When I started this blog ten years ago, I thought people would be flocking to this site. That never happened. I can't compete with Faux News, The Wall Street Journal, CNBS. I mean Rupert Murdoch, the denialist Anti-Christ leading the sheeple to their inevitable slaughter...
But the good news is that they finally figured out that Globalization isn't working. And that "Keynesian" bombing of foreigners will never fix an underlying imbalance of trade problem. It only took 35 years of trade deficits to figure it out. The bad news is that they have no clue that it's already collapsing. And therefore they're still playing CasinoNomics at 0%. Because "More" was never enough...
The casino story of the week was that the London FTSE was the TOP performing stock market globally this week - recovering all of the Brexit losses and making a significant gain. What they too often forgot to mention is that the FTSE 100 index of the hundred largest multinationals was up, due to the currency translation benefit of a collapsing pound to corporate profits. However, the broader based FTSE 250 which is mostly domestic companies, did not recover its Brexit losses, since the jobless consumer just got monkey hammered by a lower standard of living.
Zero sum game visualized:
FTSE 100 versus FTSE 250 price performance:
But as usual, the real story was totally ignored, because you don't get answers unless you ask questions. The same reason the sheeple never figured out PonziWorld in time to save them from CasinoNomics...
Got backtest of downtrend line? Check.
Got ETF risk. Check.
Got S&P weekend risk. Check...
With S&P downside gaps:
Billionaire George Soros, speaking Thursday, a week after Britain voted to leave the European Union, said that "shocking" decision has "unleashed a crisis in the financial markets comparable in severity only to that of 2007-8."
In fact, just the opposite has happened.
Britain's FTSE 100 stock index has not just recovered from its post-vote low close below 6,000. It has surged to close at nearly 6,600. That's its highest closing value yet of 2016, and within reach of its all-time highs.
IQ Test for Murdoch's morons:
"We almost made it back to 1999..."
I call this 3am risk. East Coast U.S. time...