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.
Saturday, May 21, 2016
There's No Free Lunch. And No *Free* Trade
The Idiocracy still hasn't figured out that 0% represents extreme poverty and everything is correlated under Globalization. EVERYTHING...The same guy who says he only owns the S&P 500 told me that he buys everything from Amazon.com now, same day delivery. I said that's great except retailers are getting obliterated. He got a degree in partying from an Ivy League, but made no connection. Bueller, Bueller...
This will be the lesson they never forget...
Uncreative destruction Amazon and Sears:
Amazon rolled over this week, which portends badly for the safety of the S&P 500:
On a similar note but on a global basis, Fed policy went back into obliteration mode this week: One year Treasury yields with stocks:
