If you’re someone who i) enjoys comprehensive presentations with lots (and lots) of pretty charts and ii) believes markets are hopelessly distorted by central banks gone wild, then Citi’s Hans Lorenzen is for you.
See Hans (and sometimes Matt King, who will get around to writing something when he damn well pleases) has a penchant for couching everything in terms of monetary policy and QE.
He’s not wrong.
Because what we’re seeing isn’t normal. In fact, it’s not even any semblance of normal.
And really, why should it be? Policy makers at the Fed, ECB, PBoC, BoJ, BoE, and SNB have now spent $20 trillion in an epic quest-turned tragicomedy aimed at reflating a global economy that was waylaid nearly a decade ago.
Have they succeeded? Well, in a word “no.” At least not where growth and headline inflation figures are concerned.
But, as discussed earlier today in “Bubbles, Bubbles, Everywhere,” what they have managed to do is create a shit load of asset price inflation.
Basically, Citi’s Lorenzen and Matt King will periodically take you on a visual tour of this Salvador Dali-ish investment landscape in which we are all forced to trade.
These are spiritual journeys for those of us who understand how truly surreal the world has become in the post-crisis
error era and Lorenzen/King can be counted upon to make the trip even more LSD-ish than it already is by painting everything in psychedelic colors.
Simply put: these are hands-down the best presentations on Wall Street and there’s a new one out on Tuesday.
So grab your shrooms, lick a stamp, and pop some molly, because Hans is about to help you “break on through to the other side” goddammit…