Will and Adam delve into grammar and how adding misused words, e.g., supposably, to the dictionary normalizes stupidity and is analogous to the market rewarding investors in meme stocks. We connect the dots on the disconnect between the Fed’s transitory view of inflation versus what the market is anticipating, look at the overlooked impact of the variant in Europe, and discuss other risks the market is currently ignoring in its desire to mitigate FOMO.