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.
Sunday, October 9, 2016
Competitive Debasement Resumes
In onshore trading, the currency was on track for its biggest one-day loss against the U.S. dollar since the U.K.’s vote to leave the European Union in June.