SFLA - Weekly Commentary: Let The Facts Speak: Q4 2020 Z.1

• U.S. and global equities markets are historic speculative bubbles, fueled by runaway monetary inflation and acute monetary disorder. It's my opinion that markets in U.S. stocks, cryptocurrencies, corporate credit and derivatives have evolved into full-fledged manias.
• The Fed's Z.1 "flow of funds" report is our quarterly glimpse at credit and financial developments. It was another quarter that corroborates bubble analysis. Z.1 data reflect monetary inflation spiraling out of control.
• The facts support the view that a major bear market is unfolding in long-term Treasuries and fixed-income securities.

For further details see: