Here is long term weekly chart of $MUT, which is an index of high yield bond prices. As $MUT rises, interest rates fall; as $MUT falls, interest rates rise.
The chart is suggesting that a double top has formed, and the next long cycle low around 3 years away, in 2022. Which means $MUT should fall over the next few years, which means interest rates should rise over the next few years. The potential target shown, suggests interest rates will at least double from here.
The Myth: Since 2009, almost 10 years, interest rates have been dropping, and $MUT rising. So the market has been acting out a Myth, being that debt is money, and savings and earnings do not drive growth. Debt does.
This Myth has unknown consequences, as its never been done on this scale (even in the 1930s), and all those folks are not alive today. This Myth is a tragedy, as its not grounded in sound thinking … and the 1930s proved the tragic outcome of this thinking. But this time its on a scale that even Atlas would blink at.
Watch this tragedy unfold, into a crash and burn for the central banks, and sovereign bonds….and the eventual collapse of the centralised banking system, and the western welfare state system (its already insolvent), as we know it today.