Those of you who have been on Slope for a while probably know that I hold no affection for consumerism. I agree with Thoreau that “the mass of men lead lives of quiet desperation”, and my view is that men – – and, God knows, women – – try to extinguish that desperation by plunging themselves into debt to buy crap that they don’t really need. It’s simultaneously pathetic and revolting.
Buying stuff ceaselessly has become the American Pastime, and this “lifestyle” is a vapid emptiness we have successfully exported to China, Japan,and all around the world. We are now a globe packed with insatiable consumers, always looking for the next shiny thing to distract them from an existence that would torment them if they deeply examined it.
Having started with that dose of sunshine, I present three charts which illustrate a trio of exchange traded funds which are showing signs of exhaustion and possible breakdown. I have put the symbol and description beneath each one.