Alibaba valued at $231.44 billion after debut day: thanks to ZIRP lending by the Federal Reserve and EU banks, we have lunacy in stock markets again. There are only a billion Chinese and I seriously doubt each will spend $200 at Alibaba. That is, we can see the true value of something in sales this way and it is impossible for this ridiculously overbid stock to ever keep its promise of future trading value.
Siegfried Sassoon – Poem: ‘On passing the new Menin Gate’. – YouTube: The above picture is the point in France where the Allies stopped the German push to Paris in 1915. This battle lasted for nearly half a year and killed a million soldiers. It is a flat field they turned into the moon, cratering everything in sight. The butchery of WWI was the end result of globalization and free trade (that is, one way free trade with the Europeans and Americans forcing open closed markets like China and Japan!) which mirrors today with one way free trade and globalization oppressing the workers severely while bankrupting empires that are so used to looting the world, they loot their home base which is insane and stupid but they can’t help themselves. The US/Russia/China battle for dominance pits an increasingly bankrupt US against two of the greater sovereign wealth nations on earth. We will lose this confrontation and go totally bankrupt. Continue reading
OECD: China will be Largest Economy Around 2016 is news the US doesn’t want to hear right now. The ‘exceptionalism’ faith of our dear leaders flies in the face of reality. The US is going down the old, old track whereby an arrogant empire goes bankrupt due to too many wars, too many internationalists overlooking the need to keep the sovereign state solvent and sheer laziness due to reliance of often foreign-born slaves or near-slaves.