In a society predominated by obedient sheeple, the mob follows whichever false prophet makes the biggest false promises. For example: we're going to be great again, at the rest of the world's expense. We'll extract ever-greater tribute from the global sweatshop, by collapsing their markets. It's what any last stage tyrannical despot born on third base would do - to assume that the hardest working people will just have to work harder to increase the wealth of the wealthiest. The reign of arrogant entitled frat boys recycling their dumbfuck ideas over and over again, each time at greater human and environmental expense, is ending...
Speaking of denial:
Current Dow (tariff amounts at 'a' and 'c'):
1929/1930 Dow
The Transports just made a new all time high, which implies Dow Theory Failure, because the Industrials did not confirm.
Any questions?
"Tariffs be damned"
BAML said its clients’ allocation to two-year Treasury bills, a proxy for cash, was at the highest since Sept 2008."
Bueller?
Cboe SKEW Index
"The crash of October 1987 sensitized investors to the potential for stock market crashes and forever changed their view of S&P 500® returns. Investors now realize that S&P 500 tail risk - the risk of outlier returns two or more standard deviations below the mean - is significantly greater than under a lognormal distribution. The Cboe SKEW Index ("SKEW") is an index derived from the price of S&P 500 tail risk.
SKEW typically ranges from 100 to 150"
"Smart money"
Denialistic money
"We're in a big, fat, ugly bubble. And if they raise interest rates - say because we steal money from the next generation and call it "GDP" - then it's all going to come crashing down. The only question is how many dumbfucks do we con in the meantime"
September 2016:
"Fortunately, we replaced Janet Yellen with a male Fed chief Jereme Powell. Raising interest rates is no longer a problem. The problem is these women, they've never bankrupted a casino before. They don't know what they're doing"
