This is the part where global capitalism self-destructs in order to prove that it's the best option available. Because everyone knows that anything less than all out rapacious greed would be "socialism". These hardcore dumbfucks didn't just bet everything they own on Herbert Hoover, they bet their ideology on him as well. There will be no bailout for the casino class this time around...
This is like investing in the Dow in 1930 AFTER the crash and at the time the Smoot-Hawley tariffs were imposed:
Below, this is the type of delusion that is rampant right now. That an imploding China is "good news" for the U.S. because it means more negotiating power for the U.S.. Does the term Pyrrhic victory mean anything to these dunces?
This is subprime 2.0:
"When the middle class blows up, boy will we be rich"
"When the middle class blows up, boy will we be rich"
"China is facing its "worst financial situation" in 17 years, says Bass, who made a huge currency bet in 2016 against the Chinese yuan.
Bass is known for profiting and betting against subprime mortgages during the 2008 financial crisis."
What has changed since the last tariffs were imposed is that correlation between Chinese Tech stocks and the S&P 500 is now close to 100%. Back in the summer, correlation was negative:
"but the arbiter of the Chinese plan is their exchange rate with the rest of the world," Bass told CNBC's David Faber"
That was only good for limit down S&P 500 in 2015:
For those who have retained their sanity, the freight train is right on schedule:
"Fund managers cut bullish crude holdings to 15-month low"
#Winning!!!
