You are not alone Sean, wanted to share that earlier but I forget to post sometimes. It is a house of cards.
I think the reason we have not seen wider pain yet is because of the huge US budget deficits that still mask the underlying weaknesses.
Things are deteriorating though and the problems are worldwide:
reuters.com
This should have been mainstream news, but it isn't somehow. I had to dig to find it. Imagine the co-owner of the Chrysler building going bust and the media pretend all is still fine, stocks roar higher and cryptos too.
Meanwhile the federal government runs $2 trillion deficits, has $33.8 trillion debt, interest rate on the debt is at $1 trillion and the Reverse Repo Facility is at $768 billion. The RRP is the last thing providing liquidity to this system, but it is emptying rapidly. Probably the Fed will counter by lowering rates when that empties, let's see.
I'm as bear as it gets and with the VIX below 13 might be good for you to load on some long term puts if you have managed to stay out of it so far :)
On a positive note, Gold is at all time high! Finally something moves in the right direction, miners should follow! |
