Sunday, December 2, 2012

Digging A New Grave Right Beside The Old Ones

Three Bubbles in a Row. How Do We Think This One Will End?

The implicit, inevitably catastrophic assumption that we now live under is that continued levitation of the $200 trillion global capital markets is solely dependent upon the incremental drip feed from Central Banks and not upon the solvency of  underlying assets.

We've crossed this same level 30+ times since 1999. 
Bulls are taking a cigarette break at their old gravesite. Not recommended.