Global reflation has been systematically imploded by rising bond yields and currency reflation. Just the threat of reducing monetary dopium has imploded the end-of-cycle eight year pseudo-recovery.
Reflationary self-implosion started of course in the U.S.:
Then we were told that Europe is reflating:
Lastly we were told that Emerging Markets are the last bastion of reflation.
"China's a very important part of this. If you don't believe in China I think it's going to be difficult to believe in EM"
"The pace of China’s economic expansion unexpectedly cooled further last month after a lackluster July, as factory output, investment and retail sales all slowed"
Then there's this end-of-cycle b.s.:
What oil dullards haven't figured out is that the $US dollar is tanking therefore oil at a 4-month high with the dollar at a three year low is irrelevant.
Bueller?
"There's a fairly obvious culprit for all the fear — that Amazon will continue to grow and ultimately swallow its competitors"
Unfortunately, Amazon is a Ponzi retailer - they sell dollar bills for 90 cents. They're the only retailer that has been consistently unprofitable for 24 years straight. Wall Street fucktards are impressed because Amazon uses their unlimited access to capital markets to destroy the rest of the economy:
"Online sales still account for only about 10% of overall U.S. retail sales"
In summary, end-of-cycle retail short-covering is ending, so mind the gap 'n crap:
In summary, end-of-cycle retail short-covering is ending, so mind the gap 'n crap:
