What word would you use to describe current conditions in the financial markets?
The market is sick. It has become delusional. This is typical for any late stage part of a cycle. What is truly different this time is that we have seen multiple attempts to defibrillate the financial system before it even fully went to sleep. There’s no good explanation for their action based on the data they provide. Something doesn’t add up. But regardless, mainstream news, alternative news, analysts, fund companies, and the small time investor have all capitulated, all-in, maximum risk, highest leverage, margin-trading madness. The consensus is now clearly: Nothing Else Matters.
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household holdings equities vs debt.jpg (737×406)
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