Money is made in recognizing the consensus before it’s the consensus

Chinese stocks had been among the most out-of-favored assets in the past 2 years

Chinese valuations relative to the US recently reached lows NEVER seen since 2009

Such a setup made China an attractive

Japan’s population has now been contracting for almost 15 years

At the same time, number of vacant homes there has risen significantly

Now reaching the 9 million mark

At this rate, Japan’s demography poses long-term sustainability risks for their economy

This is a very concerning chart

A lot of companies will have to refinance their debt in 2025

“Higher for Longer” rates is going to be a major issue for them

WARNING: Default rate on consumer loans have now hit the highest level since 2012

This is happening at a time when the consumer has run out of excess savings

But still has to pay back record levels of credit card debt

Something is bound to break

This is a very concerning development

Bonds have broken down from a +40 year uptrend

While a bounce is likely based on:

- Technicals
- Potential rate cuts

High levels of debt + inflation are likely to lead to more downside for bonds this decade

US debt is now bigger than the ENTIRE US economy

In 2012, debt surpassed GDP for the first time in History

Ever since then, it has only gotten worse

Fiscal irresponsibility at its best…

Yield curve steepening from inverted levels have systematically ended in recessions

This will be a key signal to monitor in 2024

Is the market rally over according to the VIX?

Our latest free Blog dives into the current state of the VIX

And all the necessary historical context relevant

Find it at: gameoftrades.net/blog/is-the-sp…

Berkshire Hathway is currently sitting on a record $157.2 billion in cash

This is THE highest cash level for the company since 1991

16/ Thanks for reading!

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