This chart from today's Early Look by Keith McCullough shows the momentous shift Janet Yellen made with deficit spending and issuance panic in full crescendo.
After the non-Magnificent 7 (i.e., Russell 2000) crashed (again) -17% from the end of July to October, Janet made a decision many investors interpreted as the all clear to "BUY STAH-KS!"
All clear? Hall of Fame central planning? Not.
This thing that won’t go away with time and space. It’s called gravity. You know, The Cycle still cycles, and now, these Big G folks like Goolsbee and Janet still have a LIQUIDITY problem…
This is one of 160+ slides McCullough explained to Macro Pro subscribers in this week's Q1 2024 Macro Themes presentation. To upgrade your subscription and gain access, email support@hedgeye.com.
