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.
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Monday, November 21, 2016
The Wheels Are Already Off The Bus
A year ago, stocks held up until Dec. 31st, and then the wheels came off the bus. The slight difference today is that the wheels are already off the bus...
The PBOC has given up defending the currency other than holding the new lower level for a few hours...
Oil is back to where it was a year ago...
Internet stocks are where they were at the end of December, on a relative basis...
JP Morgan is coming off its high
The dollar is looking tired... USDJPY
Dividend stocks are deciding when to catch down to Treasuries...
