Monday, October 3, 2016

House of Lies

The Ponzi scheme hangs on colossal widely accepted lies...

OPEC controls the price of oil

Saudi Arabia isn't going bankrupt

China is transitioning to a consumer-based economy

Angela Merkel will bail out Deutsche Bank

The BOJ can ease further

Obama's recovery isn't a debt-sponsored fantasy

Fiscal stimulus can offset a multi-decade trade deficit

0% is free money

Printing money is the secret to effortless wealth

Globalization is solvent...

Corporate profits will turn around any day now...

The liecovery will go on forever...

Paulsen's employer, the largest U.S. bank isn't imploding:

"The International Monetary Fund earlier this year characterized Deutsche Bank as the biggest single potential source of shocks to the global financial system..."

"Deutsche Bank, if it fails to secure fresh capital and sees its stock resume a downward spiral, could eventually find itself in dire straits. At that point, it’s difficult to imagine the German government wouldn’t find a way to shore up the institution despite the potential political backlash from German citizens and the charges of hypocrisy from fellow European governments that would follow."