Forever Flowing Bubbles? – SPY/VIX Ratio Pushing Extremes – Renting Has Never Been More Unaffordable – One Month HIBOR to highest level since December 2008 – A Bunch Of Scary Charts

Can capitalism continue without consumption of goods and services? The rate at which money exchanges hands is collapsing

rent ate up more disposable income than at any prior time in history.

Which unfortunately means that while US housing has never been more unaffordable, renting in the US has… well, also never been more unaffordable.

One Month HIBOR (used to benchmark mortgages) to highest level since December 2008

We Are Witnessing the Controlled Collapse of the Financial & Media Edifice | Rob Kirby

Another China Company Defaults on Bond Payment as Borrowing Costs Jump
Here Are A Bunch Of Scary Charts For Halloween.

Scary things happen when policy is too loose for too long. In the most recent cycles, the pursuit of low unemployment was associated with unsustainable increases in asset prices. What scares me is that we may be repeating past mistakes. Are we generating asset price bubbles in support of maximum employment?

BofAML’s Michael Hartnett notes that flows into risk assets are inexorable:

Forever flowing bubbles: The pace of inflows into corporate bonds & equities accelerating, up $534bn YTD (Chart 1) on course for record risk asset inflow year (prior was $281bn in 2013).

And cash levels are at all-time lows:
Increasingly, it’s on the shoulders of passive:
And the robots will murder you in your sleep:
Valuations matter despite what you might have heard on Twitter:
“No price is too high” when it comes to investing in “the future” – or so the narrative goes:
Tell me again about how there are bargains out there if you just know where to look…
Nothing could go wrong with this (obviously):
And this should be fine:
So fear not, because “the only thing to fear is fear itself.”