And no one tells better end-of-cycle lies than the Financial services industry. Can we all agree on that?
Of all of the numerous lies this week about the economy, OPEC, tax cuts, money printing, BitCasinos etc. none was more dangerously delusional than Zerohedge's assertion that "global" equity markets are fat and happy for the 13th month straight. The U.S. is the only major stock market still moving higher. Europe has rolled over. China has rolled over hard. Japan has rolled over.
Unfortunately, a tax cut can't offset global risk, it can only have gamblers looking the wrong way down the tracks when the freight train is coming from the other direction.
The direction no one seems to ever look.
Trump speech to Congress, March 1st, 2017:
Key reversal of fortune: