Silver 2011 Flame-Out for Stocks?
- The bubble in mortgage and high risk commercial products (notice how officialmonetary base was in essence flat) began to fade in 2006 as corporate profits began to roll over, soon followed by the S&P 500.
- The 2008 liquidation of the Greenspan era excesses brought with it all manner of official bailout operations, including QE's 1, 2 & 3. Notice how each QE was instituted after a flattening of money supply.
- But ultimately it is corporate profits that conventional market analysts are paid to respect (paying no attention to that man behind the policy curtain) and they have generally been strong.