Peak Economy

If you believe in cycles – – and I tend to – – please take note of this chart based on data straight from our friends at the Federal Reserve: it illustrates the capital goods manufacturing in the U.S. economy. To my eyes, this looks like a very regular, reliable cycle, and I’d say it looks rather on the toppy side. Not that fundamentals MATTER anymore, but still………….

(Click on image to enlarge)

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