In other words, the brick wall stands:
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.
Wednesday, November 11, 2015
Global Momentum Is To The Downside
Every country. Every risk asset class. Is rolling over. U.S. stocks making new highs today: 54. New lows 164. The only U.S. index to make a new high: the Nasdaq 100, which has now reversed back below the prior high set in July (see below). Emerging Markets, commodities, commodity stocks and retail stocks are leading the way down...