Blackstone & KKR IPOs not a sign of a top

Unlike this peak signal, I don't see the apparent hypocrisy of private equity players tapping public money supply.

In fact, isn't it a good pairs trade? Sell the overvalued asset and buy the undervalued assets?

UPDATE: Steve Conover has another excellent graph and analysis on the strength of the dollar. To me, it says some additional things:

1-the limits of a gold-backed dollar, the loss over which the austrian school is always crying

2-how good a democrat president Bill Clinton and treasury secretary Robert Rubin were, and

3-how Jimmy Carter comes in dead last, yet again (Nixon was the one who pulled the trigger on Bretton Woods in the first place, and USD power has been unleashed, helping rich and poor households alike, especially in America and Mexico)

UPDATE II: Dani Rodrik is more sanguine about Bretton Woods. I don't always see eye to eye with him, but his Trilemma Model does seem to hold up well to my skeptical scrutiny.