Fathom Consulting: "There Is A Bubble In Everything Except Housing"
@zerohedge -

Presented with minimal comments, the following 'picture' from Fathom Consulting paints a thousand words of unsustainability and delusion...

h/t @Schuldensuehner

While we agree with most of the chart above's content, we note that the call on the 'housing' non-bubble all depends on which market you are looking at...

Of course, the charts above are merely the symptoms.

This is the cause...

Compared to the 'normalized' movement in central bank balance sheets before Lehman; the current (and...

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