The sum total of what today's psychopaths have achieved is to suck record amounts of global capital out of local cash/bonds and into the riskiest internet stocks. In order to fund Supply-Side proven failure taken to level '11' FULL RETARD.
"There is no alternative. To Netflix"
This was a batshit crazy week, even by Trumptopian terms: China trade wars off/on. WWIII off/on, car tariffs looming for Japan and Europe, NFL-mandated patriotism, "Spygate", Dodd-Frank rollback, and to summon the Kraken once and for all - the Capitals in the Stanley Cup playoffs against Las Vegas. In other words, hell has frozen over...
But first, start at the locus of implosion, Ponzi reflation is now fully imploding:
"Oil prices plunged on Friday as reports said OPEC and Russia are considering lifting production by as much as 1 million barrels a day to meet the shortfall in supply from Iran and Venezuela."
Any questions?
Meanwhile, Treasury yields are screaming lower as another mega bubble implodes.
Which leaves the set-up distinctly deflationary, deja vu of '15/'16:
Bueller?
Only one bubble left to implode, which will be spectacular to say the very least...
We also learned that the Fed is steady as she goes...
Getting back to the theme of this post, all week, retailers announced their earnings, and depending upon whose bullshit one was believing this quarter was either the beginning of a retail comeback or sheer fantasy.
MW May 22nd, Macy's Upgraded On Same-Store Sales Potential
"People are talking about how Macy's has resurged. ... That's bull. It hasn't happened yet. In a year, if their performance continues to improve, you might be able to describe what's going on as a turnaround."
Mind the Gap 'n Crap
