And So It Goes…#725


Is there a , ” Crisis ” somewhere ? is anything going awry with the global economy – y’know the kind of thing ;the life chances and future prospects of  hundreds of millions of ordinary people right across our planet. If there is something terribly amiss,let Ambrose Evans-Pritchard ,the Daily Telegraph’s Economics and Finance guru non-pareil put you at your ease with passages such as this gleaned from his very latest zen-like meditative state :-

It said a “big tradable multi-week rally awaits” but requires catalysts, above all a stabilisation of the Chinese yuan and oil, better PMI data and a halt to the rising dollar.

The risk is that this market storm drags on long enough to hit investment, regardless of what the economic data should imply. At the end of the day, market psychology can itself become an economic “fundamental”.

Pessimists warn that unless there is a batch of irrefutably good data from China over the next two or three months, the sell-off could become self-fulfilling and quickly metamorphose into the next global crisis.

…              …          ….          …

And in case you didn’t quite  ” get it ” , AEP’s full article mentions Bunds and Treasuries ; why ? because that’s what the savvy capitalist investor is into right now. Austerity is for Others. Other people are Poor,Marginalised,Excluded,Exploited,Sanctioned. Them clanking,whirring gears of the Usurer-Capitalist money machine just keep a rollin’ on,yessuh ! Time to make plans for the Progeny of the socio-economically Elect to get them into the right schools,for the right education that will take them on the next stage of the invisible conveyor belt of immutable destiny to the right University etc.etc.ad infinitum ,amen ? Nah , Bollocks.

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