Loading ...The overnight global melt-up has put a perma-bid under the S&P futures, the likes of which we’ve never seen before.
Those who believe that the melt-up is just “getting started” are the REAL dumb money coming in at the end…
The Fed, ECB, and PBOC are now all reducing monetary dopium flow. Because they want to tame the runaway fake wealth effect they set in motion…
Therefore, gamblers are left with the Ponzi wealth effect – bidding up their own assets at the end of the cycle, while pretending to be wealthy.
Therefore, gamblers are left with the Ponzi wealth effect – bidding up their own assets at the end of the cycle, while pretending to be wealthy.