Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
While every cycle has an economic sine-curve that rhymes, no cycle has the same precise emergent properties, other than #accelerating market volatility. In today’s Chart of The Day, you can see where today’s point-to-point #acceleration is US Equity Volatility fits:
What’s similar to 2008 is the early (Q1 and Q2 of 2008) panic-policy-response by the Bernanke Fed… which didn’t work… so many market participants moved to beg for corporate bailouts and fiscal (Hank The Market Tank Paulson’s Bazooka) response. That’s why Trump insinuating he has a “major economic package” (which includes bailouts) is, if anything, a little early. |