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.

Friday, October 7, 2016

Just Another Ignored Flash Crash

Overnight the British Pound Sterling Flash Crashed and then partially recovered. The extent of the off hours crash is not shown on this ETF chart below, however, it's clear that the British Pound is in free fall...

GBP ETF (red), London FTSE (black):

Since Brexit, the UK stock market has been the best performing stock market in the world. However, some perspective is in order...here is the UK stock market in U.S. dollars...

Doh!

We'll be tracking this today...