This bubble had flat wages + 1/2 the GDP growth of prior two economic cycles; but 0% rates, exploding global debt (US $10T–>$22T, China $7T–$40T) + $15T global QE.

June 15, 2019, 10:09 PM by Alex Mark

Book value vs stock prices at every #Bubble peak. This bubble had flat wages + 1/2 the GDP growth of prior two economic cycles; but 0% rates, exploding global debt (US $10T–>$22T, China $7T–$40T) + $15T global QE.🤔#idiocy @RobSKaplan @neelkashkari @marydalyecon @EricRosengren pic.twitter.com/NwNVK8IqOr
— M/1_LP (@MI_Investments) June 15, 2019

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