More Gavekal Research: Why Is Every Property Downwardly Inward 2018 ( Iii Questions For 2019)

From ZeroHedge:

Why Is Every Asset Down In 2018 (& 3 Questions For 2019)

In his latest Strategy Monthly, Louis-Vincent Gave writes...
Investors volition endure happy to bid good daytime to 2018, a misfortunate twelvemonth inwards which all assets underperformed U.S. dollar cash.

But, Gave notes that for adjacent year, three questions are critical:

1) Will the US-dollar liquidity squelch ease?
2) Will the expanding U.S. budget deficit show a decisive factor? and
3) Are nosotros witnessing the slow-motion unraveling of the “Chimerica” synergy betwixt the U.S. together with China?

And what they imply is critical:

*  *  *

Option 1: Influenza A virus subtype H5N1 Liquidity Squeeze (And How It Ends)

Does crude oil kickoff a chain reaction leading to an easier Fed?

Option 2: Growing U.S. Budget Deficits Are Crowing-Out The Private Sector
Despite record-high revenue enhancement receipts, the U.S. budget deficit ane time once to a greater extent than expanded inwards 2018. This is unprecedented. We accept never seen consecutive deficit expansions exterior of a recession....

...MUCH MORE

Yesterday:
Gavekal: Bubble 3.0: The Upside of Downside (Chapter 7)