the long run

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/11-overflow/20151115_stifel.jpg

what is truly enjoyable about this chart is that the red line is up because of 

1. the authors fed contention but also

2. the repair of bank balance sheets with free money

3. the recycling of that free money through corporate balance sheets to buyback their own shares

4. and the free dollar lines to other central banks globally (think the japanese)

in the long run.....