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From a time perspective, the 10-12 month cycle ideally should be in a top phase. But it surpassed its last cycle projection of 4440 so it is probably in trending mode. Both the 6 month cycle and the 13 week cycles appear to be trending.
The already-wealthy and their minions are unprepared for the Smart Crowd opting out.
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5 Charts
Evergrande owes over $300 billion – to banks and non-bank financial institutions, domestic and international bond holders, suppliers and apartment buyers. It has bank borrowings of $90 billion, including to Agricultural Bank of China, China Minsheng Banking Corp and China CITIC Bank Corp. (reports have 128 banks with exposure). Thousands of suppliers are on the hook for $100 billion.
These types of situations generally prove worse than even the more bearish analysts fear. Assume ugly and messy.
Now that every financial game in America has been rigged to benefit the few at the expense of the many, trust and credibility has evaporated like an ice cube on a summer day in Death Valley.
The next, much bigger test, is dead ahead with the SPY, which is vastly more important:
FEEDWell, there’s no doubt that the idea to short Brazil by way of EWZ has turned into a roaring success. I’d say that, in the weeks ahead, there’s way, way more to go.
GAFAM, short for Google, Apple, Facebook, Amazon and Microsoft, are not only commercial tech giants, but also some of the most active contributors to open source projects on GitHub. As our chart indicates, not even open source veterans can hold a candl…