Chinese small caps fell vertically first. U.S. next. Now Japan.
Chinese small caps (red), U.S. small caps (purple), Yen inverted (green):
Yen/Nikkei making up for lost time:
(Grey line is S&P):
1997 x 10
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.