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.
Friday, May 6, 2016
Weaker and Weaker
Locus of overnight implosion
World ex-U.S. with S&P:
Chinese stocks were down -3% but that didn't get noticed...
Biotech is in full wave 3 mode
Apple just lost support at $94 and is now heading for last line of defense at $92 which should last a few seconds...
Johnnie & Johnnie As long as this rising wedge never breaks, it's all good: