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.
Thursday, December 17, 2015
Overnight Risk: The Farce Awakens
The Bank of Japan meets today (Friday in Tokyo) ~9:30pm Eastern. They are expected to make no change to policy. Dollar was bid all day, but that could change after the decision... Yen / Dollar with S&P:
China is weakening the Yuan every day now:
Stocks closed on the lows of the day. All of Big Cap Tech rolled over.