Well, it’s Halloween and that means it’s time for a post with some generic, scary charts.
But first, the most disturbing picture of them all:
Yeah. There are so many things wrong with that visual it’s impossible to catalogue them all.
And while we can’t top that for sheer horror, here are some visuals that should at least give you pause if you’re still “long and strong”…
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For his part, Barclays Chief U.S. economist Michael Gapen says the following about the extent to which blindly driving up asset prices in pursuit of ever diminishing economic returns may be a bad idea:
Scary things happen when policy is too loose for too long. In the most recent cycles, the pursuit of low unemployment was associated with unsustainable increases in asset prices. What scares me is that we may be repeating past mistakes. Are we generating asset price bubbles in support of maximum employment?
BofAML’s Michael Hartnett notes that flows into risk assets are inexorable:
Forever flowing bubbles: The pace of inflows into corporate bonds & equities accelerating, up $534bn YTD (Chart 1) on course for record risk asset inflow year (prior was $281bn in 2013).
And cash levels are at all-time lows:
Increasingly, it’s on the shoulders of passive:
(Wells)
And the robots will murder you in your sleep:
Valuations matter despite what you might have heard on Twitter:
“No price is too high” when it comes to investing in “the future” – or so the narrative goes:
Tell me again about how there are bargains out there if you just know where to look…
Nothing could go wrong with this (obviously):
And this should be fine:
So fear not, because “the only thing to fear is fear itself.”
Well, that and also the orange man handing out candy from a giant box on his desk…
Pres. Trump to reporters' kids at White House: "I cannot believe the media produced such beautiful children." https://t.co/GyYdF5sDSd pic.twitter.com/R7CrciMzyD
— ABC News Politics (@ABCPolitics) October 27, 2017
Another scary chart:
https://www.predictit.org/Market/3306/Who-will-be-Senate-confirmed-Fed-Chair-on-February-4%2C-2018