The term Wall Street uses after-the-fact to rationalize self-imploding greed
"No one" predicted the collapse in oil prices
The global 1% have steadily expanded their share of global wealth from 35% in 2010 to 44% in 2014, while middle class wealth has declined commensurately. Did Pickens just assume that trend would continue forever without affecting global demand?
No one saw the Swiss National Bank lifting the Euro peg last week.
Why is that? Did they assume that the SNB would grow its balance sheet forever while speculators minted *free* money from the carry trade, on 50:1 leverage?
Global carry markets didn't anticipate the rapid rise in the dollar
Why not? Is that because they were making huge profits from the dollar carry trade? Did they assume that QE would not end as scheduled?
Wall Street didn't predict the collapse in Treasury Yields
Why is that? Were they expecting the economy to float back from China while they were exhorting every major corporation to cut costs?
Wall Street didn't predict the collapse in Treasury Yields
Why is that? Were they expecting the economy to float back from China while they were exhorting every major corporation to cut costs?
It's amazing what "surprises" will occur in a world controlled by GreedBots trading pieces of paper back and forth, based upon 'imagined realities'.
Due to the 100% correlation of economies inherent to Globalization, we can fully expect one totally predictable 'surprise' leading to the next bigger one, until the future hits the brick wall of "now".
These are not "Black Swan" events, these are Brown Swan events i.e. the inevitable result of having one's head shoved up their own ass.
