The S&P futures were down -50 points overnight as the global selloff continued. But the dip got bought with both hands in the U.S. December was just a "glitch"...
We all know too many people who are self-destructing. They can't help it, apparently. Life on this planet is not good enough without a daily bottle of Jack Daniels to wash it all down. Add in rampant pharmacology, virtual reality video games, viral internet porn, iPhone addiction, and of course Social Media. All of a sudden the "boob tube" is looking like the good old days.
Social Media is arguably the biggest form of self-destruction going on right now. Echo chambers of ignorance and groupthink bringing to life the "Borg" hive mentality predicted by Science Fiction. Instead of making computers more like people, we've made people more like computers:
All of which has taken Social Mood misdirection to a whole new level. The ability to propagate lies and deception aka. "Fake news", now on a scale previously inconceivable. George Orwell could not have predicted what means of mass communication lay thirty years beyond 1984.
Facebook has been turned into a weapon of truthful mass destruction:
Facebook has been turned into a weapon of truthful mass destruction:
Objectivity is a quaint value long since discarded in favour of conflict of interest. A society run by and for industry shills who view all forms of media as an opportunity to redirect opinion to a more profitable outcome.
Now, for the first time in a decade, we see in plain view the way asset markets work when Central Banks are out of the picture: Fantasy reigns on the way up, and inconvenient reality reigns on the way down.
Sadly, the Mad Men can't adjust their delusional narratives fast enough to capture the turn. Not to say that they would be wont to do so anyways. As the CEO of Citigroup said at the top in 2007, right before all of the chairs disappeared:
"You've got to get up and dance while the music's playing"
July 2007:
"...his account amounts to quite an elegant explanation of why financial bubbles persist. Even if Citigroup’s executives were worried that private equity valuations have gotten too frothy and loan terms too loose, it would make little sense for them to pull back. Because they can never know for sure when the music’s going to stop, and they’d be crazy to forego all those underwriting fees for the year or two or three before it does. So they keep dancing."
Seattle Home Prices Drop -11% In Six Months
Australian Home Prices Falling Fastest In A Decade
Vancouver Home Prices Fall Most Since 2008
Australian Home Prices Falling Fastest In A Decade
Vancouver Home Prices Fall Most Since 2008
For those who will believe anything and anyone, the more fraudulent, the better:
"BTFD"
