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.
Tuesday, June 7, 2016
Smash Crash: From All time Lies
What do you get when you combine massively over-crowded dumb beta, 2008-level short-covering, mass complacency, overnight currency risk, 3x leveraged oil, ultra-short volatility, nominal new highs, unresolved HFT glitches, and no liquidity? Smash crash 30 day moving average volume:
What could go wrong? "Currencies of countries that count the U.S. among their biggest trade partners are most likely to retreat"