“You cant taper a Ponzi Scheme” – Mitch Feierstein @planetponzi
“A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying on record.”
“Money has become a death cult and Janet Yellen is the head Priest”
We discuss cognitive dissonance in US stock markets. In the second half, Max continues his interview with economic researcher, writer and trend forecaster, Chris Martenson of PeakProsperity.com about ‘the mother of all bubbles’ in US equity markets.
“So for those of you who haven’t seen it — strap yourselves in for 140 years of Monetary History In Ten Minutes”“By the end of this clip you’ll be able to answer for yourselves:– Are we overdue for a new monetary system? – Is war good for an economy? – Why did Nixon sever the link between all currencies and gold?”
“Britain’s service industry recorded its 12th consecutive quarter of growth on Thursday and now accounts for almost 80 per cent of the economy.”
“Other growth areas include the vibrant creative industries, encompassing everything from computer games to musical shows. Stian Westlake, policy director at Nesta, the innovation charity, said the sector has enormous potential. “As the world becomes richer, people want to be entertained,” he said.