Therefore, once they find out the second inconvenient reality, they will instantly realize they were also wrong on the first inconvenient reality. In the meantime, the entirety of the lamestream media were wrong on Brexit and wrong on Trump, in the span of just four months, so the noose is getting ever-tighter on the de facto Idiocracy, in broad daylight.
Zero sum casino visualized:
As U.S. stocks climb, the "yield" or return on investment has been going lower. For the first time ever, in any cycle...
S&P Earnings yield (red) with global GDP growth:
Meanwhile, momentum traders make any excuse to buy stocks, solely under the auspice of the greater fool theory. Because there is no other reason to own stocks at this juncture other than to expect an even bigger dunce to come after. Only to find out the biggest dunce is already in the market....
"Fortunately, while value issues outperform growth titles in both small- and large-stock segments, blah, blah, blah..."
Small cap growth / value ratio:
Small Caps / large caps with small banks (black):
What does all of this mean? It means there's no way out...
Dry Ships gives us just the latest example of greater fool theory in action...
The word from Vienna is that things are not going well for OPEC. In fact, they are going surprisingly poorly.
"We're going to need somebody to go in and rescue it. This could end early tomorrow unless Khalid" — Saudi oil minister Khalid al-Falih — "can come in and restore order
"What I hear is kind of crazy. The fear in town is it's Doha redux. Everybody's worst nightmare," she said.
The Idiocracy is being buried in real-time, by their own serial bullshit...
