Ponzi World (Over 3 Billion NOT Served)

The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Friday, January 23, 2015

Life in Ponzi World: Fake It 'Til You Break It

Billionaire goes "remarkably long" U.S. stocks while assuming this is all doomed to fail

BBG: January 22, 2015

Billionaire Bet Against Subprime, Now Long Stocks, Short the 'Future'

"Greene, flew his wife, children and two nannies on a private jet plane to Davos for the week"

“I’m remarkably long [stocks] for my level of pessimism,” he said. “Our economy is in deep trouble. We need to be honest with ourselves. We’ve had a realistic level of job destruction, and those jobs aren’t coming back. America’s lifestyle expectations are far too high and need to be adjusted. We need to reinvent our whole system of life."

But for now, let's party like it's 2008
Jan. 23rd
"Developed World Carry Trade"
Short Euro, JPY, Swiss Franc. Long Aussie, Kiwi, Norwegian Krone

Realistic job destruction? At least he didn't say things have never been better...