This is not just about China It is about QE and the lack of. The unlikelihood of an interest rate rise which is a red flag the system is broke and overvalued asset pricing. The Dow isn't prepared to take its medicine. It is screaming for more QE and it can't hike rates because to do so would only pop the bubble in stocks anyway.
The system is broken and the heroin addict markets screaming for monetary stimulus need to go cold turkey for the sake of the global economy.
It was a sham today to see indices stopped and circuit breakers utilized only for a mystery seller to immediately produce a bounce of some 700 basis points on the Dow. Can kicking at its most transparent.
The market is rigged and corrupt. The Fed meddling and myopic. The sooner the crisis comes the sooner true valuations can be restored and genuine growth restored. Trillions of debt will have to be assessed not ignored and this applies to both the US and UK.
This comment was left by Brexit at UK Telegraph - https://disqus.com/by/disqus_E4JfvfC4LG/
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