by Michael Covel
Daily Reckoning
Talk to the average Joe on the street and he’ll tell you the world is coming undone… And he’s right.
There’s widespread social unrest… rampant institutional corruption… record numbers of unemployed… pandemic violence and terrorism… and historic levels of global debt that can never be repaid.
If stock markets were not at nominal all-time highs, everyone would believe that events are spiraling out of control.
Yet even with stocks at highs, people know there’s something terribly wrong… and they can’t seem to put their finger on why it’s happening and what it all means. The market tanked after Brexit, but it was hitting all-time highs again shortly after. What gives?