I agree on not attempting to time the eventual crisis because, as Jim Rickards often says, there is really no point in trying to identify the 1 snowflake which will cause the avalanche. The truth is the avalanche is coming bc the system is unstable.
Everything has been deformed since Greenspan put interest rates to 1% following the tech bubble. All price discovery mechanisms are gone. There is no market that is at fair value.
By any metric: interest rates, stock EPS, PE ratios. The CAPE/Schiller PE, real unemployment, labor participation etc. we can see that this economy is not in a recovery but as I have said before, we are in a cyclical recession inside a secular depression.
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