…..Volume & Credit Slumping. In 3 days the Fed has talked the S&P 500 up 4% (amid collapsing volumes)….
…..read more HERE
Some Hard Numbers on the Western Banking System
by Simon Black
‘If one of you stands up right now and heads for the exit, the rest of the audience probably won’t pay much attention. If ten of you do it, one or two people may notice and follow. But if 400 of you suddenly head for the exit, the rest of the audience would probably follow quickly.’
It’s a great metaphor for how our financial system works. The entire system is based on confidence. And as long as most people maintain this confidence, everything is fine.
…..read more HERE
