“We’ve Reached The End Of The Line; Now, The Game Changes”

Friday, August 14, 2015
By Paul Martin

by Raul Ilargi Meijer via The Automatic Earth blog,
ZeroHedge.com
08/14/2015

The most pivotal importance of China is that it was the world’s latest financial hope. The yuan devaluation shatters that hope once and for all. The global economy looks a lot more bleak for it, even if many people already didn’t believe official growth numbers anymore. Because we’ve reached the end of the line, the game changes. Of course there will be additional attempts at stimulus, but China’s central bank has de facto conceded that its measures have failed. They just hope you won’t notice, and try to bring it on with a positive spin. Central banks are not “beginning” to lose control, they lost control a long time ago. The age of central bank omnipotence has “left and gone away” like Joltin’ Joe. >Omnipotence has been replaced by impotence.

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