Henrich notes we have had 13 straight months of up in the global equity markets. However, central banking liquidity game has peaked and is dropping off:
On Thursday, the Dow blasted over 300 points higher on news the Senate would pass a tax cut.
Will it create any jobs? I rather doubt it and so does any thinking individual. I will have more on the beneficiaries of the tax cut later today.
Curiously, Goldman Sachs' economist Peter Oppenheimer says "risks are to the upside" in a Bloomberg video in the above link.
Henrich as a much different opinion, meticulously laid out with 17 charts.
Whether you are a bull or a bear, do yourself a favor and read Henrich's excellent article.
Mike "Mish" Shedlock