An outsider's guide for how to live large under a reserve currency:
Assume it will last forever
Assume trade deficits don't matter
Assume Ponzi borrowing doesn't matter
Assume that college is where you go to meet like-minded sociopaths
Assume that everyone else can lose their decent paying job, but not you
Assume that the jobless consumer benefits when prices are lowered at Walmart
Know that carbon from Exxon is solely dependent upon carbon from exceptional bullshit
Assume coffee shops and fast food outlets are as good as factories
Assume the rest of the world doesn't exist, other than to fund deficits
Ok, now trade stocks...
Emerging Markets are pulling their money out of this scheme:
A lot of it has already come out...
U.S. liquidity (red) with Rest of World stocks:
Liquidity = Price / Volume (20 dma)
Chart of the week:
Another 8 years of exceptional bullshit. Ending badly...
