Ponzi World (Over 3 Billion NOT Served)

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, October 26, 2016

The iPhoney Rally Is Over

This era's dumb phone fetish is wearing off, just like last era's crackberry fetish imploded at the end. Blackberry doesn't even make phones anymore...

Overnight Apple reported its first full year revenue decline in 15 years. Sales to China were down -30%...

Apple with Crackberry (blue line):

It's all short-covering now. Last night's bad news got bought with both hands this morning, into the breach. Nevertheless, this fake rally is running on fumes...

Short-covering is clearly visible on this chart during the 'Brexit' rally. Why that was a buying opportunity is not for me to say...

S&P overnight gaps with the internet fund

Speaking of opening gaps...

The Nasdaq: