Markets Disassociate. Look under the hood. No real equity bull market. Fed is compounding dysfunction. Unavoidable Conversation Now. Even on Bloomberg. “Collapse begins when real reform becomes impossible”. 8 reasons why the

“We’re all minions now of the stock market” QE has no impact on Nominal GDP growth Interest rates now insensitive to liquidity excess Banking Lending mainly for capital markets not economy S&P

Q3 earnings look like confirming an earnings recession Caterpillar results indicate a global industrial depression But what do earnings have to do with stock markets? Buybacks USD/JPY China Too! Policy ever more

Clarity and Transparency Static allocation from MPT to AW NAAIM says 95% of advisor funds remain in Static Allocation Strategies Adaptive Selective Allocation Cycle Dynamics Macro models, Bayesian models, and combinations

  Simple behavioral explanation for Fed policy statements. Fed never had an exit strategy. Documented. Astonishing 82% of “Economisseds” are still following the Fed. Effective cycle and macro models left the

Earned Income as a percent of GDP has declined for 45 years. Debt, however, has risen exponentially for 45 years Earned Income Capitalism was overwhelmed by the bank credit system The