I am squarely back in chicken little territory (like I ever left). Nonetheless, I have this really bad feeling. It could be the market reversal between March and now being the most extreme since the Great Depression (what was so "great" about it) or it could be that consumer debt versus income is still at record levels and climbing.
Either way, we are into the old bubble pop territory. Yep, I am not feeling at ease about this recovery. You judge for yourself.
Disclosures: None.
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