Tuesday, May 1, 2018

Mayday: There's No Such Thing As Labour Day Anymore

It's all rapacious criminality now...

Global capitalism failed because it exploited the hardest working people, made the vast majority insolvent, destroyed the planet, and put asinine amounts of fake wealth at risk. 

Otherwise it worked great.

We'll see which man-boys still have the brass to make excuses for this overwhelming disaster when it all explodes in their faces with unprecedented extreme dislocation. Because, "No con man saw that coming".  

It turned everyone into a gambler. There's no way that average people should be investing in the stock market as a form of retirement. They might as well be playing Russian Roulette with their finances. Every cycle is the exact same - at the beginning the grasshoppers are fearful, but by the end they throw caution to the wind. Unfortunately, that's where this time is different, because forty-years of chicanery later, and policy-makers have now found the global zero bound for interest rates. If 2008 was the front wall of the hurricane this is the back wall that takes down what is left.

The headline all day was Dow down, Nasdaq up ahead of Apple earnings. Leave aside the fact that Apple is in all major indices, it only moved the needle for the Nasdaq, while everything else imploded. After hours, Apple's earnings report was much ado about who gives a shit. 

Industrials were particularly shellacked today:

Likewise, global mega caps are through the 200 day:

With all of the hand holding going on between Trump and Macron and the two Koreas, the Keynesian war trade is right pissed off...

Gamblers are crowded into a handful of over-owned, and overbought mega cap Tech stocks:

So we wait

Because one thing every zombie has agreed upon, is that this fraudulent farce could go on forever...