The Show Must Go On....

....The S&P 500 closed out the year (2013) with a 29.60% gain and ended at a new all-time high.
 Only four times since its inception in 1957 has index had higher annual gains:
38.06% in 1958,
31.55% in 1975,
34.11% in 1995,
and 31.01% in 1997.
According to the U.S. Treasury, the yield on the 10-year note closed at 3.04, a new interim high.

The Coming Epic Collapse of the Bond Bubble
by Phoenix Capital Research

In the 1960s every new $1 in debt bought nearly $1 in GDP growth. 
In the 70s it began to fall as the debt climbed. 
By the time we hit the ‘80s and ‘90s, each new $1 in debt bought only $0.30-$0.50 in GDP growth. 
And today, each new $1 in debt buys only $0.10 in GDP growth at best.
Put another way, the growth of the last three decades, 
but especially of the last 5-10 years, 
has been driven by a greater and greater amount of debt.
 This is why the Fed has been so concerned about interest rates.

You can see this in the chart below.............................