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This is why the Greek debt crisis continues without end. The minute Greek bondholders have to take a REAL haircut, the wheels come off the EU and the $100 trillion bond bubble finally blows up.

This is the short-term scenario. The longer-term scenario is that the market is prime for a sizable collapse.

The Fed has created a very very dangerous situation.

Based on the current pace of earnings growth, we should see a VERY serious collapse in the next few months:

Yields can always go lower… but at some point investors will have to ask, “how much am I willing to pay the Government to sit on my money? 1%? 2%? 3%?”

Despite all of the talk of cutting the deficit and the like, the political class continues to throw taxpayer money around at a pace that is bankrupting the nation.

The Fed can talk about recovery all it wants. But it’s just talk. 

For six years, the world has operated under a complete delusion that Central Banks somehow fixed the 2008 Crisis.

All of the biggest problems in the financial world revolve around the bond markets today: Greece, Japan, the Fed's interest rate hike, etc.

The stock market is totally mispricing what's coming.

DEBT DEFLATION is a nightmare for the Fed because it would almost immediately bankrupt both the US and the Too Big To Fail Wall Street Banks.

For six years, we’ve been told that the US economy is in recovery. This is a totally bogus narrative that was dreamt up by the Central Planners running the Fed. The US economy is a disaster and has been since 2009.

Stocks are pricing in ECONOMIC PERFECTION and the reality is that the global economy is imploding.

With the Fed and other Central banks now leveraged well above 50-to-1, even those entities that were backstopping an insolvent financial system are themselves insolvent.

This bubble, literally dwarfs all other bubbles. To put this into perspective, the Credit Default Swap  (CDS) market that nearly took down the financial system in 2008 was only a tenth of this ($50-$60 trillion).