from The Morgan Report
David Morgan‘s weekly perspective for September 22nd, 2017…
Charles Hugh Smith, financialization and the destruction of the real economy. Financialization eventually destroys an economy. Everyone is trying to sell everyone financial instruments. Nothing is really produced. The financial structure is really very fragile. The ability of the system to seize up is very real. PM Trudeau was extolling the virtues of globalization. But in reality how much has it really accomplished, other than increasing debt? The Fed said they’re going to unwind their balance sheet. It will take them 23 years at the announced rate. The entire system is coming apart as we speak. The macro picture, where we’re at. Transports rise to new record levels. Toys-R-Us files for BK. Retail is suffering greatly. Trucking index hit new records. Oil and gas trading above its 200 moving average. And lot’s more.
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