MarketWatch – Central banks spent the past decade all but forcing investors to buy risk assets and shun cash. This data suggest it worked. But whatever the reason, investor cash levels suggest that caution is unpopular right now.

In 2018, a lot of chickens are going to come home to roost in Washington, on Wall Street, and in the media centers of New York City and Los Angeles. Icons will be blasted into dust as the tides of cheap money, cronyism, complicity and stupidity recede. Beware entities with too much debt, too much secrecy, too much hype. Beware false idols. Every bubble destroys its idols, and so shall this one…

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