Another Real Crisis Hiding Behind Record Highs

The market won't be able to ignore these sectors forever...

Did you already read about how subprime auto is imploding behind the scenes of the market, while “investors” chase gamma squeezes higher in an ongoing distortion feedback loop that is making things look far better than they are under the surface?

Good. Now let me offer up a reminder of another sector of the market that’s also still imploding behind the surface.