Presented with little comment aside to suggest one scratch beneath the thinning veneer of record nominal stock prices every once in a while to take the temperature of the ugly reality that no one is talking about...
1) Stocks are at record highs because global growth is 'improving'...
[4]
FACT: There is a record divergence between the 'market' and plunging growth expectations
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2) Stocks are at record highs because employment is 'improving'...
[5]
FACT: There is a record divergence between the 'market' and the employed population in America.
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3) Stocks are at record highs because animal spirits are 'improving'..
[6]
FACT: There is a record divergence between the exuberant 'rich' and crushed 'middle class'
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Bonus Chart:
Stocks are at record highs because... of The Fed!
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And stocks have not been this far ahead of the Fed Balance Sheet since May 2013's Taper Tantrum correction began...
