## [1] "GDP"
## [1] "DGS10"

## [1] "GDP"


The Term Structure of Fed Funds out to 7 Years

The Term Structure of Fed Funds out to 7 Years; 2016 to Date

The Term Structure of Fed Funds out to 7 Years; 2007 to Date

With Term Structure of NGDP Growth, Expected GDP Level in 7 Years Derived

The Level of GDP in 7 Years


The “Basis” of 7 Years Forward GDP to Current GDP

Error to Use Current GDP to Qualify the SP500; Duration Mismatched

The US Treasury Curve Flattens to Dec 2018 Then Slight Steepen Into 2019

SP500 Is Rich Compared to 20 Year US Treasurys

SP500 Duration Matched to GDP 7 Years Forward
The 7 Years Forward GDP Level Does Not Support Current SP500 Levels
A Siginficant Sell Off In SP500 Likely to Occur

The “Basis” of 7 Years Forward GDP ( 7 Year Forward GDP less Current GDP)
“Basis” Is The Amount of GDP Growth Expected in Next 7 Years

The Federal Reserve Is Midstream of a Most Significant Error in Monetary Policy