06 December 2016

Charts At the Market Close - Central Bank Follies

The markets were still churning around today, going nowhere in particular.

I think that the theory that there was a determined intervention in the markets yesterday in the aftermath of the Italy vote is a reasonable one.

The Banksters and their functionaries learned a lesson from Brexit, although in this case the Italy vote result was widely expected, and turned into a bit of a 'bear trap' engineered by the well-connected.

The credibility trap is a very useful explanation for a number of odd behaviours that we are seeing these days, both in policy, politics, and finance.

How else could someone explain an article such as recently appeared in Fortune with the title, Donald Trump Is Inheriting the Best Economy In a Generation.

Their hypocrisy knows no bounds.

Have a pleasant evening.