Deutsche Bank was out this morning with a 217-year chart that says it all. To wit, markets have reached a point of Peak Lunacy. In a world choking on economic, political, demographic and military troubles, stock and bond prices have never been so high. Or as its crack analyst Jim Reid put it, "we’re in a period of very elevated global asset prices – possibly the most elevated in aggregate through history".
Shrug Today, Bleed Tomorrow
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.