INDEX:SPX S&P 500 Index
While there is a backdrop of genuine growth, returns and new capital flowing into the financial system. There is no doubt a considerable contribution to the US market's (as well as many other risk-centric assets around the world) from accommodation championed by the Fed and its previously-unrivaled programs. What happens when they start to tighten the reins?
Great Chart, Tightening should have started in 2011 at the latest. Very difficult to get one's head around what this means for any stability moving forward. Add this visual to what is happening with the destruction of production due to the continued development of an entitlement society which feeds on the expansion of debt, and we have the recipe for....