Record bullishness about the S&P 500! But beneath the largest stocks, volatility has taken over ruthlessly, the market is in turmoil, people are dumping stocks wholesale, dreams and hopes are drowning in red ink, and Wall Street doesn’t want you to see it.

How the most important “data” Wall Street hands out via its army of analysts to rationalize lofty stock valuations is consistently (chart!) the biggest hoax out there.

While the US economy, and by extension the world economy, is desperately waiting for escape velocity to finally kick in, world trade has descended into a very unpropitious slump.