The rather ridiculous truncated graph shown below seeks to make a point. I am showing the kind of depths the VIX presently is in, and how infrequently it has “lived” there. In fact, for over six years, this is practically uncharted territory. Back in the days of the housing buble, the VIX found itself comfortably around the $11 to $12 level (and, on one occasion, even cracked beneath $10), but, let’s face it, this is a level of complacency virtually unknown to the markets………
To put things into a broader perspective, here’s the entire history of the VIX that I have. So, after all this time, is it true that the powers that be have truly figured out how to permanently and irrevocably control the markets? Maybe so.
