Wall Street boy-man fantasy du jour:
ZH: Oct. 25, 2015
"It's 1998 all over again..."
"The 1998 analog is working for the Nasdaq"
You can't make this shit up:
A seven year stock market rally solely due to 0% and $4 trillion in money printing while debt doubled, now compares to 1998...
It gets better with the minor admission that...
"The global equity tranche is non-existent"
Translation: The wealth is entirely fake...
"Failure is not an option...money will fall out of helicopters next..."
All Central Banks have done to date, is buy time while the economy imploded. They bailed out lenders by giving borrowers more debt. Now we're to believe they will implode the ~$150 trillion credit market by handing out free money to commoners, because that will be friendly to S&P futures...Sure
Mind the GAAP: This is not 1998...
Pavement risk visualized aka. "Gap Earnings" which have been rolling over for an entire year now, relative to the economy which has been weakening for seven years straight...
GAAP earnings with U.S. interest rates (black)
Profits/Sales aka. Ponzi Risk
Profit leverage has grown since 2008, as stock buyback alchemy accounts for ALL of the Earnings per share gain in the past 8 years:
What casino operators and ponzi schemers ALL seem to have left out of their self-deluded end of year tea leaf "predictions", is that we've moved beyond the purely financial locus of risk, to now the economic. Meaning the economy can no longer be ignored in preference for the casino.
What we face now can only be accurately described as riot risk...
