According to Factset, earnings for this current quarter only one month underway, have deteriorated 5% in one month. Which is faster than the one-year, five-year and 10-year averages. In other words, company's are announcing fourth quarter earnings and guiding down forward guidance...
The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Friday, January 29, 2016
Terminal Idiocracy: "Great News, No Economy"
The stock market had its best week since August on news that the economy is slowing and the Fed is on hold forever. Gamblers took the opportunity to double down on Facebook and shorts covered on the news. The Big Four Central Banks encouraged them to buy with both hands...