"US equities on a P/S basis just hit its highest level on record at 2.7X. Trading in the 100th percentile of its historical distribution over 40 years."
If QE continues, what will the P/E be in 6 mths? #Dotards@RobSKaplan @neelkashkari @RaphaelBostic @marydalyecon @steveliesman pic.twitter.com/Nsj4n2xUI1— M/I_Investments (@MI_Investments) November 18, 2020
Another major spike.
Treasury holdings by banks relative C&I loans just hit a fresh record.
Again:
Banks are now lending more to the government than to businesses/households.
There is only one solution to this wall of debt…
That‘s monetary debasement. pic.twitter.com/dETM6Vy1UX— Otavio (Tavi) Costa (@TaviCosta) November 18, 2020