2019: The Beginning Of The End Peak Prosperity. A Fed Too Far

Behind the broad, swift market slide of 2018 is an underlying new reality: Roughly 85% of all trading is on autopilot—controlled by machines, models, or passive investing formulas, creating an unprecedented trading herd that moves in unison and is blazingly fast.

For ten long years, the world’s central banks have dragged everyone along for one last attempt at scaling Mount Credit.

Weak companies that cannot sustain themselves without borrowing more will go out of business and lay people off. Major corporations seeing that writing on the wall will reel in their own hiring and expansion plans.

Few are ready to hear these messages. More will be ready over the coming year, but still the numbers will be surprisingly small.

https://www.zerohedge.com/news/2019-01-02/2019-...