“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception
We have not seen much profit taking yet into year end despite a spectacular rally from the market bottom.
Wait for it. This may be a nascent asset bubble being created to offset the coming writedowns in Commercial Real Estate and the bad debt remaining on the books of the banks.
