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.

Sunday, October 25, 2015

Round 2: "Aw Fuck, Not This Again !!!"

Global stock markets rallied on Friday on news of a Chinese interest rate cut. Now we know why carry trades (aka. Aussie/Yen) didn't participate...

Oct. 23, 2015:

"China’s currency slumped to its lowest level in almost a month against the dollar in Hong Kong Friday, the latest sign that investors are betting on a further devaluation in the yuan."

"China’s decision to cut interest rates has reinvigorated fears that capital will leave the country at an accelerating rate as economic growth slows, adding to pressure on the currency and ultimately forcing officials to devalue the yuan against the dollar."

BBG: Oct. 25, 2015

Yuan Bears Forecasting Devaluation Test Market Nerves

"Commonwealth Bank of Australia, Rabobank see sharp weakening"

Aussie / Yen versus S&P