There’s no respite in sight.
Relentless deterioration meets stunning overcapacity.
Something broke in the gears of financial engineering!
And then there’s S&P’s “pessimistic scenario.”
At the worst possible time.
Central banks have lost their aura of omnipotence.
Default Rate Highest since 2009, US Distress Ratio Soars.
The goods-based economy swoons.
A terrible deterioration.
CEOs, Wall Street are furiously making hay while the storm moves in.
"This will most likely drive a drawdown much like the one we saw in 2009 and 2010."
Now it’s getting serious.
This comes at the totally wrong time.
This trade has become blood-soaked.
But what’s different this time?