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Takeaway: Paul Krugman and Ben Bernanke need to go back to whatever dorm they were sippin’ the Sapporo in and rethink everything.

(Excerpt from this morning's Hedgeye conference call)

Every Sector ETF in our S&P Sector Model (with the exception of Utilities) is in what we call a Bullish Formation (bullish on all 3 of our core risk management durations – TRADE, TREND, and TAIL). The Utilities Sector ETF (XLU) is getting crushed, already -6.4% in May.

What is people giving up on Utilities (Yield Chasing) saying? It‘s saying shame on you Ben Bernanke. He’s forcing retired people to chase yield and rethink the whole historic notion of savings going back to Benjamin Franklin.

Another shame shout-out goes to New York Times “economist” Paul Krugman. If you can stomach it, take a moment to read his latest op-ed championing “Abenomics” and Japan’s insane efforts to turn its economy around. Holy smokes. Krugman may as well be writing about the Weimar Republic in 1924-25.

Bottom line: Krugman and Bernanke need to go back to whatever dorm they were sippin’ the Sapporo in and rethink everything.