Maitre D’: “And finally, monsieur, a wafer-thin mint.”
Mr Creosote: “No.”
Maitre D’: “Oh, sir! It’s only a tiny little thin one.”
Mr Creosote: “No. F**k off. I’m full…” [Belches]
Maitre D’: “Oh, sir… it’s only wafer thin.”
Mr Creosote: “Look – I couldn’t eat another thing. I’m absolutely stuffed. Bugger off.”
Maitre D’: “Oh, sir, just… just one…”
Mr Creosote: “Oh, all right. Just one.”
Maitre D’: “Just the one, sir… voila… bon appetit…”
[Mr Creosote somehow manages to stuff the wafer-thin mint into his mouth and then swallows. The Maitre D’ takes a flying leap and cowers behind some potted plants. There is an ominous splitting sound. Mr Creosote looks rather helpless and then he explodes, covering waiters, diners, and technicians in a truly horrendous mix of half digested food, entrails, and parts of his body. People start vomiting.]
Maitre D’: [returns to Mr Creosote’s table] Thank you, sir, and now the check.
The Monty Python skit depicted has a lot of truth in it.
Only idiots refuse to acknowledge excess. Society is littered with examples of the consequences. Eating too much results in indigestion and lethargy, and, if done, regularly obesity and an early grave.
We’d be forgiven for thinking that these simple truths don’t or won’t apply to the financial markets.
Indeed, the GFC was but one of the last examples of such excess, and Canada’s own Real estate market is now suffering what Mr Creosote suffered.
There are naturally other examples, many covered in my subscriber-only publication, but there is one elephant in the room worth looking at:
The above graph, which I nicked from Bloomberg, is actually only a few months old… and as such out of date.
How out of date can it actually be, you might ask? Heck, it’s less than a month old.
…click on the above link to read the rest of the article…