Crescat Capital commentary for the month of February 2022, titled, “A Trifecta Of Macro Imbalances.” Q4 2021 hedge fund letters, conferences and more For the first time in history, the US is experiencing a confluence of three macro extremes all at once: 1. High government debt to GDP like the post-war 1940s2. Excessive stock market valuation on par with 1929 & 2000 bubbles3. A resource-driven inflationary crisis environment comparable to the 1970s Any one of these three economic states endangers the health of markets and the economy. Together they are a highly explosive mix. The disparities ha…