The following 5-Year Daily ratio charts of the S&P 500 Index compared to Major World Indices shows that the SPX has underperformed all of them since the beginning of this year, and some for the past 1 1/2 to 2 1/2 years.
As China ascends to the top global economic superpower (leaving the U.S. permanently behind, in spite of visionary leadership from the likes of Joe Biden and Nancy Pelosi), the chart of the stock markets from the middle kingdom are breathtaking. It sort of reminds me of the divergences that took place in 1999/2000 between big global markets, some of which were stratospheric while others had already topped out. This is only going to feed the frenzy of retail excitement in China, as their citizens continue to jump into equities feet-first.
Greece was brought to her knees at the hands of its corrupt political class elites with the full support of an avaricious international banking cabal. Please don’t put the blame on the little old lady pushing her Gyro cart up the steep streets of Kolonaki. She was perfectly within her rights to assume that the leadership of her country knew what the hell they were doing whilst managing her distinguished nation’s finances.
Yet today, she has taken the full brunt of the fiscal pain, while those most responsible for this massive over leveraged abomination, namely the Greek political family dynasties and their complicit int’l banksters, continue to bask in the sun off of Mykonos on their luxury yachts.
Along with the privilege of leadership comes responsibility, it’s way too easy to simply blame the little people. (more…)