Conflict Of Idiocracy: Party Like It's 1929

Absolutely nothing was learned in 2008, hence the do over. The net effect of 0% interest rate policy is that more capital is openly exposed to risk now than at any time in human history...

Unfortunately, the Idiocracy doesn't believe in conflict of interest, responsibility, accountability, global warming, global warning, objectivity, facts, data, reality, or anything else of value for that matter. What they believe in is circus clowns, alternative facts, Faux News, printing money, ponzi borrowing, intra-generational theft, mass exploitation, CappuccinoConomy, serial EconoDunces, bailouts for billunaires, Walmart, Kardashians, and Goldman Sachs running Treasury.

In other words, there's only one way this can all end - the most painful way possible via the Inefficient Market Hypothesis and the mis-pricing of risk...

Why is risk mispriced? Because Wall Street is more worried about the P&L than the balance sheet. Meaning they gladly put capital at extreme risk rather than sacrifice their own profits by hedging: 

RISK IS BINARY
The re-pricing of risk will be instantaneous. You know, like last time except several orders of magnitude more violent...

Unhedging

Index Put/call:

Hedge funds versus S&P:

Still making up for their bet on Hillary...

Active Manager risk exposure: