Unbeknownst to most, the much anticipated market crash actually happend yesterday. But, the powers that be decided to cancel it. Interesting, indeed, that the worlds economy is currently ruled by stimulus fed by the worlds largest central banks to a few erratic algorithms that play circle-jerk with the most liquid stocks. Whoever said the financial markets may one day become an end in themselves and a burden on society clearly didn’t expect this.
For those who have the time, I strongly recommend listening in on Karl Denningers BlogTalk radio today, as he will discuss the upcoming second american housing collapse. In all honesty, I think the US banking sector is about to meet its maker within a year or two. Too-big-to-fail + too-big-to-bail = ???
I leave you with this image of something looking very familiar :
Are we there yet ......?
