There Are No Triple Tops…
As they often do, ZeroHedge gets it right in my opinion.
Then I check a max duration S&P 500 chart (click "All" once the .INX chart renders). And my Technical Analysis (TA) perspective sends ripples of acidic apprehension along my esophageal tract.
Isn’t .INX headed for another collapse, technically (as ZeroHedge ponders) when the S&P index fails to take out 1550 over the next couple of years? The basic TA tenet being: "There are no triple tops!"
Moreover, today Ameritrade (my eBroker) announced a new debt issue from Goldman Sachs -- "negative outlook" 6% bonds with thirty year duration. If my five percent CDs redeemed today, I would take that bet for 20-40% of the portfolio. Just suspecting that during the next couple of years that inflation (er... I mean “GDP growth”) spurts may create ideal timing to lock-in relatively high, stable debt yields -- to hopefully ride out a 2-3 decade Japan/deflation/stagflation collapse scenario. If less orderly, “The Ben Bernanke” free money sugar high collapse is going to get ugly, very ugly!
Then I check the headlines -- e.g. Wisconsin, Ohio, Indiana, Egypt, Libya – and ask myself: “Will unemployed and average working people sit still for QE #9, for #27? Will today dominant BRIC (Brazil, Russia, India, China) economies, with lower per capita GDP, accept the inflation QE essentially guarantees?” I know I don’t want to! Already in the U.S., some 99ers are killing themselves… The dichotomy and displacement QE is causing is gruesome! Already it’s creating major social unrest.
Thus, as equity bears and economic critiques of meta corporate capitalism have surmised for at least a decade, hasn’t "peak everything" finally capped exploitation capitalism? Has GDP pie, after swelling steadily since 1600 AD, exceeded its natural shelf life? And who chases market alpha (price appreciation) under such a scenario? The same too-big-to-fail banks and funds that created the housing collapse!