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.
Tuesday, August 25, 2015
Gold's Pattern Is Identical To 1980
The major difference is that now is not 1980 and the level of deflation we face now will exceed anything ever experienced in modern history. Nevertheless that falling wedge usually resolves to the upside, if only for a little while... FWIW, this is Prechter & Co's count as well, last I checked which was several weeks ago. I'm taking a break from wave counts that change every other day. Gamble at your own risk. Read the prospectus carefully before throwing all of your money away.