The State Of The Union: A Friendly Reminder Where We Stand Now

Spend more than a few minutes watching CNBC (yes all 2,000 of you) 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...

 

 

 

...But then there is all this wonderful wealth creation...

 

and as a reminder, here's where the cornered Fed's balance sheet is heading (for now)...

 

Charts: Bloomberg

h/t @Stalingrad_Poor