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Editor's Note: The excerpt and chart below are from today's Morning Newsletter written by CEO Keith McCullough. If you're not a subscriber yet, you're missing out. Click here to learn more and subscribe.

...The two core components of our Global Macro slide deck remain A) the cyclical call (USA in a #LateCycleslowdown) and B) the secular call (#Demographic slowing of core baby boomer consumption cohorts, in the US, Europe, Japan, and China).

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CHART OF THE DAY: S-L-O-W-E-R  For L-O-N-G-E-R - z 06.03.15 chart