Uh oh. Someone in central bank land just uttered the “C” word – “contained.” More specifically, the Bank of International Settlements, which is sometimes called the “Central Bank to Central Banks,” issued a statement about Brexit.
In that statement, the BIS said: “With good cooperation at a global level, we are confident that uncertainty can be contained and that adjustments proceed as smoothly as possible.”
The last time we heard how “contained” things were — from the likes of former Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Hank Paulson in regards to the subprime mortgage crisis — your best bet was to run for the hills. Is this time different?
The Dow doesn’t seem to think so, what with a loss of around 600 points at last check.”
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600-some points… Weren’t we here 10 days ago? Brexit was a heck of a Black Swan tho; never happen. Now all the derivatives, credit default swaps, leveraged stuff that was re-leveraged and resold will take it all down again. Lie Lie Lie Rinse and repeat. New-world-order my eye! Great Recession 2.0. Same old. same old. Trump’s gonna win. The lunacy of both sides of the political order (which is really the same side class) make him sound like the only one making sense from the main street world order, rather than state department world order.
Hillery Clinton is completely inept at any job she has done at a state dept level or as the presidents wife to see her as president we might as well elect North Korean dictator Kim Jong Un
gotta hand it to larson. he called a bad market coming months ago.