Panic Mode!…”the ever-widening “chasm of destruction” between collapsing economic activity and rigged financial markets is becoming too great for even the world’s best “weapons of financial destruction” to control.”
Andrew Hoffman
SilverSeek.com
January 8, 2015
Three months ago, I wrote “2008 is back, with one temporary exception”; which, in hindsight, parallels May’s “most damning proof yet of QE failure” as the most important articles published in the past year. The latter refers to the abject failure, based on plunging interest rates, of the Fed’s comprehensive market manipulation and propaganda scheme – starting in April 2013, seeking to fool the world into believing QE had successfully revived the U.S. economy, and was easily reversible under the Fed’s expert custodianship. That said, the aforementioned “temporary exception” – of PPT-goosed equity markets – has successfully prevented the all-out collapse that will inevitably destroy the towering debt pyramid erected during 44 years of unfettered money printing.
Unfortunately, the ever-widening “chasm of destruction” between collapsing economic activity and rigged financial markets is becoming too great for even the world’s best “weapons of financial destruction” to control. And thus, even “policy tools” like the “Dow Jones Propaganda Average” are starting to buckle under the pressure – like the blowout preventer at the Macondo well, when BP drilled into the “well from hell” four years ago. Just a week into 2015, the horrifying trends I wrote of three months back have mushroomed dramatically; with, for instance, WTI crude plunging from $90/bbl to $48/bbl, and the 10-year Treasury yield from 2.45% to 1.95%. Think about it. Three months ago, I was saying “2008 redux” had arrived; i.e, before the cataclysmic oil plunge that will unquestionably catalyze financial implosion on a par with, at least, the 2008 mortgage collapse.
Now that economic implosion is spreading like an uncontrolled wildfire, even the “doubt” the Fed’s scheme attempted to cast is dissipating; and thus, for the foreseeable future, global economic indicators have only one way to go – STRAIGHT DOWN. Given that the oil price plunge only started in early October, fourth quarter data will only be partially affected; which in and of itself is terrifying, given how essentially all economic data, the world round, has been freefalling. Heck, just look at this morning’s mortgage and refinancing data – which despite the collapse in mortgage rates, plunged a whopping 9% last week alone!
The Rest…HERE
