Spend more than a few minutes watching CNBC (yes all 2,000 of you) [2]and you will be told how great things are, how great things will be, and how (no matter how bad the immediate 'event' is) the hockey-stick of future exceptionalism will always be there. In the interests of full disclosure, that is wrong and these four charts show why... a friendly reminder of the state of the union...
[3]
...But then there is all this wonderful wealth creation...
[4]
and as a reminder, here's where the cornered Fed's balance sheet is heading (for now)...
[5]
Charts: Bloomberg
h/t @Stalingrad_Poor
