Thursday, August 25, 2016

Globalization: Fun, Games And Competitive Debasement

Tomorrow, trillions of gambling capital will get reallocated based upon what Janet Yellen says. After tomorrow, reality will resume where it left off... 

Asinine levels of risk:

All time extreme complacency

All time low cash balances

Blow-off in junk risk assets (IPOs, Biotech, Small Cap growth)

U.S. GDP ex-deficit, lowest since 2009

U.S. oil and gas combined inventories all time highs

Retail inventories all time highs

Fed policy clusterfucked at 0%

ECB, BOJ, PBOC engaged in competitive debasement

Retail and dollar stores imploding

Transports not diverging massively

Rest of world diverging massively

Retail has had a big week, as the cyclical trade rolls over...

First, the Lockheed Martin indicator...

JnJ indicator:

Small caps:

Activision end of cycle indicator...

Ameriprise Financial

Car Max

Gap stores


Bonus Chart: Money Flow