Something is all "wet".........................from Rico

While the daily 'new' normal is a daily historic 'high' for the S&P500, something is all "wet" here.

Sure, global equity markets are all 'juiced' on Cental Bank provided crack...er, QE 'liquidity' but this is completley disconnected from economic activity which is anything BUT booming.

- Especially for the 52% of American families that do NOT have a cent in the markets (a historic low).

Consider the shipping index reflecting world trade, the Baltic Dry Index, as an indicator of what is REALLY happening in the global economy as opposed to what the cartoon channels of FTV are telling you.

- Today the Baltic Dry Index is ~900.....5 years ago it was 11,000.