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An extended drop in industrial production without recession seems very unlikely: https://fred.stlouisfed.org/series/INDPRO Shiller P/E is well above the historic mean: http://www.multpl.com/shiller-pe/ Corporate buybacks are dropping, and dividend cuts are rising: http://www.bloomberg.com/news/articles/2016-05-16/bull-market-losing-biggest-ally-as-buybacks-fall-most-since-2009 It is all very suggestive of the end of a credit cycle.
ThurberMingus · 3192 days ago · link ·
Thanks. I hadn't seen the industrial production data before.