Must view: Monetary Madness by Nathan's Economic Edge
NYSI nearing 90
So, in summary, it looks like we may have a little time before a selling cycle starts. However, we do seem to be past the sweet spot of this bull cycle.
The TED Spread seems to be overbought, but it is still at levels that existed right before the Greece crisis really hit the front pages in May 2010. I honestly don't know if it was just causation or correlation. I don't know much about credit markets.
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth."
"...By combining a popular hatred of the class of entrepreneurs with the blow already given to social security by the violent and arbitrary disturbance of contract….governments are fast rendering impossible a continuance of the social and economic order of the nineteenth century."
John Maynard Keynes - The Economic Consequences of the Peace, 1919. pp. 235-248.