Ponzi World (Over 3 Billion NOT Served): Davos 2017: "We're Going To Need Better Lies This Year"

Wednesday, January 18, 2017

Davos 2017: "We're Going To Need Better Lies This Year"

By sheer ironic coincidence - not to visit my money - I was at Grand Cayman today, on a cruise stop with a hard luck relative who gets one vacation per year from his "generous" employer. Nevertheless, Grand Cayman exhibits all of the problems with globalized Ponzi capitalism, all in one place. Despite having arguably more "wealth" in its banks per capita than any country in the world, scratch the surface and it's still a Third World country. Why? Because the wealth is all private and its used only for private consumption by the global elite. It's also of course fully available to chase the next hot money bubble before it collapses. But there's apparently no investment in Cayman Island public infrastructure. Because that's not how the "system" works. However, contrary to the apologists for the "system", it's not working...

Janet Yellen inadvertently admitted today that this is the first failed recovery in U.S. history. Because in an Idiocracy, bad news is always good news:

"Good news, eight years after the recession and we're still applying more stimulus than we've applied during any previous recession in U.S. history"

Unfortunately, they conveniently forgot what comes next. And hence are raising rates at the very end of the cycle.

The big news this week, so far, was Trump saying he doesn't support strong dollar policy, which monkey hammered his entire Trumpflation trade put on last November. The dollar and banks stocks in particular:

USDJPY with regional banks