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.
Monday, March 16, 2015
Catch a Falling Knife
Since December, Etraders have spent $41.5 billion playing Jed Clampett via the USO oil ETF
Now they are underwater and the oil keeps flowing faster than ever. Another leg down in oil and the S&P is toast.
