1st add in China as well and this graphic looks stunning.

2nd #bitcoin will soon have a gamete of digital currencies adding to its own sort of dilution.

If it can be man made without a hard asset then it can be manipulated, gamed, and diluted. $bcomp.

It is strange that companies keep drilling and pumping #oil at a loss, however, with borrowing the way it is, inefficiencies are not just created but perpetuated. In reality, oil drilling and pumping is more a method of borrowing more and more than a economically viable endeavor much like building useless buildings anywhere or operating factories that can't sell anything for a profit. We are falling into the same hole all socialist programmed economies do and the argument goes, if we stop then our economy goes down.

Thus unprofitable drilling continues and oil gluts remain. I do believe, such drilling shouldn't happen until way into the future when they will make huge profit, but everyone acts like if we don't drill now it will be lost to the oil eating worms or something. Absurdities, just like the buying of oil and dumping it into the ground that we call our strategic reserve. Our real strategic reserve is not pumping our oil out of the ground at a loss.

The author is right about #zirp shoving up asset prices. The issue is they already have been shoved up. If you look at Japan as an example, the rise in multiple from there for Japan was caused equally by the collapse of earnings and growth from their central banks monetary escapades. We are only now seeing the slow growth erode earnings for out companies.

I am hopeful good companies will avoid this rise in stock multiples and will inevitably rise in value instead although I know most companies will not avoid this fate.

Very good article. Sadly, there really isn't many safe places to go anymore and get any decent return besides a select few stocks, and I don't mean #REITs. The risk retired people are taking to make ends meet is frightening right now and is mainly due to the game the Federal Reserve is playing at the cost of #retirees.

Great, now the view the #Fed won't raise rates for a few more months is firmly in place. Now what? They put on the thought they may raise rates again so they can play the won't raise rates again card. I think I'm having getting off #zirp deja vu all over again?

Good analysis and quite key. All is not well in this economy and although ones can speculate as to what it is, there certainly isn't agreement on what it is besides, the effect is there. Slow growth and weak consumption.

OMW it's Tom Cruz. Where's the nuclear bombs in volcanoes? Sadly as we see in Japan as growth cools and yields touch new lows asset bubbles are blown and then, eventually the stock market crashes from its lofty position to recover after lost decade after lost decade.

Given global central banks have hoisted this death knell on capitalism through socialistic managed economies without democratic say and without even trying to give capitalism a chance to develop its own solution. However, as we fall into this mess, please realize the corruption and problems aren't from capitalism, rather the renunciation of capitalism for centrally managed economies organized through central banks. Tsk tsk.

The market is right to go up as rotation occurs towards a commodity rebound, however, this upside will be offset by declines in earnings and drops in demand. Thus, like every event there is excess before what is happening is hashed out. After years of no growth in most commodities the bottom is pretty much in on these and as they recover without growth and more demand, the rise will not be offset easily to consumers and thus the next sectors go down leading to a labor correction which will hurt the US more than the commodities downturn which hurt China.

There is value out there. It's just not the stocks most people are buying.

"The real worry is that they are not remotely close to being out of bullets." exactly true. Look at #Japan's central bank as an example. Inevitably they always have another bullet as long as the public has assets they can devalue. Inevitably even their asset pumping will not save you and then Japan, where slowly yet surely they end up owning everything and there is no growth and no jobs for anyone but bankers and politicians.

It is sad we have to compare the US to Japan's failed run down the tube of managed economy failure. How have we gotten here. There will be a difference though. We may get inflation, but without growth which may make our experience a lot worse, but hopefully bad enough to stop from going as far as Japan has gone.