I plotted out systemic fear and was looking at it. My understanding is system fear is associated with capital power. So I added labor power as proxied by strike frequency.
I would expect the two series to be inverses of each other, as in when capital power is high labor power is low and vice versa. This is the case for the measure I use for capital power, what I call the investment index, which is a ratio of the value of a portfolio of 50-50 stocks and bonds after taxes divided by a wage series. Here is investment index and labor power.
