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.
Monday, July 6, 2015
CasinoConomy Monkey Hammered
Deep fried zombies are totally oblivious
(U.S.-listed) Chinese small caps now down 40%
China's overnight efforts to prop up their casino failed, so today they just announced that no one is allowed to sell. You can't possibly make this shit up. Bloggers can in no way compete with the circus buffoons in dealership.
Tomorrow, by law, everyone will have to own at least 3 revenueless IPOs, so they can pretend to be wealthy in the CasinoConomy. Instead of foodstamps, we'll all just eat some worthless stocks.
So far, as expected, oil/commodities, carry trades, and Emerging Markets are bearing the brunt of selling aka. all of the things that are not supported by Central Planning for billunaires. The deep fried zombies are still oblivious.