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.
Wednesday, January 6, 2016
Idiocratic XGames: Bungee Jumping With A Noose
Unfortunately, no one has told the zombies that they're on the verge of losing everything. Because they don't trust anyone who can be trusted... The S&P held the 1990 Maginot Line at all costs...A level coinciding with the day before the August Flash Crash:
Oil and oil stocks at new lows. Emerging Market stocks, EM debt, and EM currencies new lows, Yen carry approaching August lows. Big Cap Tech rolling over. What could go wrong?
A Yuan devaluation followed by two big downside gaps and then a crap...we've seen this movie before: