http://davidstockman...t-rolling-over/
What I find most intriguing about the chart of margin debt, is how each time it's spiked higher, it accelerated at a greater parabolic rate, which essentially coincides with ever greater levels of monetary easing. (much more intensity each time by the way, with a lesser and lesser resultant impact on actual GDP growth).
People seem to have forgotten the serious easing actually began back in 1998 by Alan Greenspan, and throughout the past 16 years, the equity market has been the beneficiary of the greater and greater and ultimately quantitative injections of liquidity to try to support the dying patient. The only result has been one bubble after another, getting bigger and bigger, then popping and in fact repeating. Housing bubble 2.0 is now peaking, then of course will be imploding soon once again. Interestingly too home prices, shown on zillow are also peaking once again, and in some cases higher than they've peaked previously, though the vast majority not coming anywhere close to reaching their prior peaks.
It's rather fascinating that anything involving the markets has been called a 'bull' throughout this entire period.
(adding another 4 letters to that descriptor would have been far more accurate).
