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, July 7, 2017
Weekend At Bernie's
I adjusted the Nasdaq count following today's payrolls rally...
Alternating daily rallies and declines for 8 sessions and four tests of the support line:
Oil rolled over hard again this week, along with commodities
Banks started to roll over again...
The dollar is getting shellacked as global Central Banks play catch-up with tightening...
The chart of the week of course is this one:
Bitcoin
Bitstamp, $USD
The 50 day is rising for the inevitable cross-over...
Recession stocks got monkey hammered this week
Bueller?
Campbell Soup
General Mills