Here’s a fine rant from Rick’s Picks forum regular John Jay that deserves more prominent play. It nicely captures the feckless behavior that has come to rule the world’s financial markets in these very interesting times:
Between Brexit, the continuing collapse of civilization in the MENA, NATO telegraphing Barbarossa 2.0 to the Russians, Western Europa welcoming Muslim hordes, the collapse of Venezuela likely to spread throughout the rest of South America, and half the USA populace in some combination of broke, on the dole, suffering from diabetes, drug addiction, and Celebrity Worship…Not to mention the Feds “Tightening” plans evaporating…Well, no wonder the markets are comatose except when Fed Intervention sends a flood of buying/selling through the pipes of any given market.
The entire planet is now w-a-a-a-a-a-a-y off the map of sane behavior at every level! I am beginning to think that the rise of world population to over seven billion people over the last 100 years will be seen by future historians as a classic Greek Tragedy. That spike in the population created a huge surge in the total numbers of high-IQ individuals that enabled the incredible surge in technology that took us from the Wright brothers and kerosene lamps, to the A-380 and smart phones in the last 100 years. However, that same surge produced a tidal wave of billions of ignorant savages that are in the process of tearing it all down. “The future of man? We’ll blow ourselves up,” said Admiral Rickover. And a kindred thought from Kurt Vonnegut: “How embarrassing to be human.”