CHART OF THE DAY: The Fed's Illusion Of Growth = Bubbles

Editor's Note: Below is a brief chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.  

"... I’ll move along and get back to today’s tape (and apologies in advance for leaving out FANG and more than a few other bubbles), but that’s effectively what the ZIRP created – a galaxy of “unintended consequences”, that were A) intended and B) real.

 

Creating the illusion of growth that is inflation expectations – i.e. the belief system that prices cannot go down – gave birth to every centrally-planned bubble I’ve ever attacked with live ammo from the short side."

CHART OF THE DAY: The Fed's Illusion Of Growth = Bubbles - 12.30.15 EL chart