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.
Monday, August 7, 2017
An Inconvenient Hairless Monkey Hammering
Unfortunately, the post-2008 global recovery was a hoax propagated on a society of hardcore denialists who will believe ANYTHING, except the truth. But don't take my word for it, here is data straight from the World Trade Organization. Bearing in mind that the global population has grown 10.7% since 2008, not to mention the effects of 8 years of inflation, not factored into this sad equation:
CBC News spent some time this evening discussing conspiracy theories and why they've become so popular, even mainstream lately. I have my own theory, which is that a society that has been lied to and wants to be lied to constantly, loses its ability to rationally separate fact from fiction. In essence they've been living in a virtual reality bubble inflated by fake reality TV, Faux News, and talk shows. So much so that bald face facts have lost all meaning. The truth is absolutely meaningless.
Case in point, Trump's approval rating with cash balances. A sense that something is wrong and yet a total lack of effort to act upon it:
Or, as I've discussed recently, the global reflation hoax propagated by Central Banks upon willing sheeple. Essentially a hoax believed by the same idiots who created it in the first place.
Tonight we got this inconvenient dose of reality:
"China's export growth slowed to 7.2 percent in July from a year earlier...Analysts had expected a 10.9 percent gain"
"Despite an uptick at the end of the second quarter, (China's) trade growth now appears to be on a downward trend."
I wonder what impact this news will have on EM currencies celebrating fake reflation:
Also this evening...
"S&P 500 companies benefit from dollar weakness and growth outside of the U.S.
Small cap companies are more domestically focused." In contrast to the double digit gains for S&P 500 company profits,...the small cap S&P 600 was expected to see earnings decline 2.5 percent"
Imagine if the weak dollar - which was entirely brought about by the weak U.S. economy - was the only reason S&P earnings appeared to magically grow this quarter. Also consider U.S. domestic profits shrinking by -2.5% in the context of the U.S. economy:
Which means that stoned gamblers went ALL IN on cyclically peak earnings
And therefore the "Amazon effect" has nothing to do with Amazon: