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, June 1, 2016
The Status Quo Is 3x Leveraged To OPEC
Shorts covered ahead of the OPEC circle jerk, because really what could go wrong? JPY was strong overnight versus USD and Chinese Yuan, indicating RISK OFF at the U.S. open. I mean buying opportunity...
3x leveraged speculators have been throwing money away for four months straight in anticipation of this non-event: WTI crude with 3x leveraged ETF volume (UWTI):
Retail ex-Amazon imploded due to Nike and Under Armour. Amazon reversed into the close.
Auto sales for May tanked, hammering automakers
Big Cap Tech lagged notably
Skynet pulled out all stops to manage a green close
Dividend/recession stocks re-tagged their overthrow high: