Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to subscribe.
"... Have you been of the view that the money that was printed was going to create a “velocity” of money or behavioral distrust? If the short-term policy was to create the illusion of growth (inflation expectations), isn’t the long-term risk a #Deflation of those expectations?
How about the $9 Trillion Dollar Problem (see Chart of The Day) that is US Dollar-denominated credit to non-bank borrowers outside of the US? That’s a massive contract. Does it have risks? As the economic cycle slows, in debt linked to inflation expectations do you trust?"