Lots of people long this market, tech, metals should be extremely careful ....
The USD has (2) bullish patterns dating back years...

1)-USD touching support from 2011
2)-1985-2020 USD broke above trendline in 2015

Banks are pulling credit lines from individuals and businesses with underwater balance sheets. This has accelerated the last eight weeks...A very high percentage of businesses and individuals have underwater balance sheets. I would guess 80%+

M2 Velocity -
A good inflation metric ....

(10 Year Breakeven Inflation Rate)

This rolled over at the end of August. Even with the Federal Reserve manipulation taking place in TIPS market. Without that manipulation most likely this would be screaming WARNING!....
1)- Lacy Hunt in my top five regarding all things finance...

What does he think....?

Lacy Hunt
Is the " new " credit or debt or money entering system today going towards organic growth or capex? Or is it filling void of previous obligations.. Personal, business, city and states or sovereign balance sheets.

What about overcapacity?
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