Recovery? 3 "Uncomfortable Truth" Charts

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'...

 

FACT: There is a record divergence between the 'market' and plunging growth expectations

*  *  *

2) Stocks are at record highs because employment is 'improving'...

 

FACT: There is a record divergence between the 'market' and the employed population in America.

*  *  *

3) Stocks are at record highs because animal spirits are 'improving'..

 

FACT: There is a record divergence between the exuberant 'rich' and crushed 'middle class'

*  *  *

Bonus Chart:

Stocks are at record highs because... of The Fed!

 

And stocks have not been this far ahead of the Fed Balance Sheet since May 2013's Taper Tantrum correction began...