As the economy implodes, gamblers are seeking the safe haven of 250 P/E Netflix. There's never been a society dumber than this one...
During the first years of this fake recovery, the stock market rose at the expense of the economy because a weak economy meant more monetary dopium. Now in this last stage of Ponzi, the stock market is rising BECAUSE the economy is imploding. According to today's self-destructing alchemy, falling bond yields "justify" higher stock prices...
During the first years of this fake recovery, the stock market rose at the expense of the economy because a weak economy meant more monetary dopium. Now in this last stage of Ponzi, the stock market is rising BECAUSE the economy is imploding. According to today's self-destructing alchemy, falling bond yields "justify" higher stock prices...
WTO Trade database
Facilitating the Icarus Melt-up:
All of which means that the fake-levitated casino won't survive what comes next. At which point, Ray Dalio and other Ponzi schemers can stop fretting about the Central Bank assisted divide between the fake wealth haves and the real wealth have nots. Because there won't be one. It never once occurs to any of them that their fake wealth is the part of this equation that's unsustainable.
Skynet doesn't do rising volume aka. "Selling".
Two hours into the gambling session and the IBD 50 has already traded record (down) volume. Prepare for island reversal of fortune...
Per the principles of Shock Doctrine, post-2008, Central Banks monetized the deluge of deflationary poverty into 0% ponzi capital for gambling and speculation. All good, because according to the principles of modern financial alchemy, the interest rate aka. "discount rate" determines the present value of future earnings. Therefore the lower the discount rate, the farther into the future and more speculative the earnings. Meaning that growth is all that matters. No surprise then that as the real economy has been cannibalized to make the quarter, and as long-term rates have fallen, Wall Street's price targets have marched steadily higher.
"We basically got steamrolled. I don't think we want to be bearish when markets are focusing on other things"
It's modern Ponzinomics at its "best" - cannibalize the real economy to justify higher casino prices. You really can't make this shit up. A dumber society has never existed. Wall Street's price targets for 2018 have already been exceeded.
Facilitating the Icarus Melt-up:
"Another bad quarter of economic data. It's time to raise price targets again"
Skynet doesn't do rising volume aka. "Selling".
Two hours into the gambling session and the IBD 50 has already traded record (down) volume. Prepare for island reversal of fortune...
