Presented with little comment aside to suggest one scratch beneath the thinning veneer of record nominal stock prices every once in a while to take the temperature of the ugly reality that no one is talking about…
1) Stocks are at record highs because global growth is ‘improving’…
FACT: There is a record divergence between the ‘market’ and plunging growth expectations
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2) Stocks are at record highs because employment is ‘improving’…
FACT: There is a record divergence between the ‘market’ and the employed population in America.
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3) Stocks are at record highs because animal spirits are ‘improving’..
FACT: There is a record divergence between the exuberant ‘rich’ and crushed ‘middle class’
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Bonus Chart:
Stocks are at record highs because… of The Fed!
And stocks have not been this far ahead of the Fed Balance Sheet since May 2013’s Taper Tantrum correction began…
Reprinted with permission from ZeroHedge.
