As I said in January just before VolPlosion, this shit show isn't going to crash, it's going to explode in every fucking direction. Because what this era represents more than anything is astounding heights of ignorance and arrogance.
It would be one thing if asset valuations were only bid back up to Y2K historically asinine levels amid record complacency and risk exposure
Or another thing if global interest rates were spiking to cycle highs after a decade of languishing at 500 year lows
Or, if global Central banks were just now draining the trillions in liquidity that have supported global assets for a decade, even as global fake reflation implodes in real-time
Quite another thing to layer in a tax cut for oligarchs funded by stealing from Social Security
And then something altogether different to begin a trade war at the end of the cycle
But to do all of them at the same time. That is the height of ignorance and arrogance.
Any questions?
Gundlach and Gross are about to shit a brick, along with every other dunce who predicted higher bond yields...
"Synchronized global recovery"
We haven't seen a second breakout in backwardation on weekly volatility since...
