"George Orwell once offered an excellent explanation for this phenomenon: as the imperial end-game approaches, it becomes a matter of imperial self-preservation to breed a special-purpose ruling class—one that is incapable of understanding that the end-game is approaching" - Dmitri Orlov
S&P Earnings yield with global GDP:
History's largest circle jerk...
Anyone who trusts Circus Clownius with their casino dollars, deserves their doomed fate...
"And then I'm going to cut your taxes"
"And then I'm going to go big on Infrastructure"
"And then I'm going to rebuild the military"
Ok, shut the fuck up you goddamn moron:
Every election requires a bigger buffoon and a bigger set of false promises because the gap between reality and fantasy grows with each passing day. A bigger reality gap requires a bigger clown to fill it and more fake news to paper over the chasmic gaps in the facade...
To date, Circus Clownius' only accomplishment is to monkey hammer GDP while incentivizing the Fed to raise rates...
Almost a 50% relative drop in Q1 GDP forecast in two months:
And at the same time encouraging gamblers to embrace financial risk with record abandon...
Here we see financial asset allocation (red) with Financial stocks just now getting back to the 2007 peak.
In other words it's a perfect time to monkey hammer the attention deficit...
Meanwhile, throughout eight years of outsourcing for stock buybacks, Wall Street cheered weak jobs reports because it meant more Fed dopium. But now they desperately need a strong jobs report and strong wage growth to justify their late cycle historically unprecedented over-allocation to Financial stocks...
The irony can't be overlooked.
Payrolls (red) with log scale Fed rate:
I think we all see where I'm going with this. Every apologist for the status quo should be "satisfied" when markets sit down to the banquet of consequences they themselves laid out for them.
When they realize that markets may not always be rational, but they are extremely efficient at re-pricing new information...
Real wages
"No dunce saw that coming"
