{"id":345537,"date":"2018-01-26T16:47:35","date_gmt":"2018-01-26T15:47:35","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/flying-blind-lewrockwell\/"},"modified":"2018-01-26T16:47:35","modified_gmt":"2018-01-26T15:47:35","slug":"flying-blind-lewrockwell","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/flying-blind-lewrockwell\/","title":{"rendered":"Flying Blind &#8211; LewRockwell"},"content":{"rendered":"<div>\n\t\t\t\t\t\t\t                            \t<!-- S3 Cache --><!-- S3:S3:Non-Original -->\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>You could say thank\u00a0heavens they have\u00a0finally stopped buying the \u201cdip\u201d. Then again,\u00a0there apparently\u00a0aren\u2019t any left!<\/p>\n<p>That\u2019s the\u00a0case, anyway,\u00a0even if your notion\u00a0of a\u00a0\u201cdip\u201d is any day the market doesn\u2019t go up. So far\u00a0there has been exactly one such\u00a0occasion during 2018. Or\u00a0worse still,\u00a0if you assume the traditional metric of at least a 5% drop, you have already\u00a0been out of the dip buying\u00a0business for a lifetime\u2014-\u00a0whether measured in market lives\u00a0or even dog years.<\/p>\n<p>That\u2019s right.\u00a0Heisenberg reminds us this morning that we are in undisputable record territory. It has been fully<em><strong>\u00a0395 trading<\/strong>\u00a0<\/em>days since the market had a<strong>\u00a05%<\/strong>\u00a0drop, and that\u2019s never happened before in all of recorded history.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i2.wp.com\/heisenbergreport.com\/wp-content\/uploads\/2018\/01\/DaysWithout.png?zoom=2.1025000691413877&amp;resize=700%2C373&amp;ssl=1\" alt=\"DaysWithout\" width=\"650\" height=\"347\"\/><\/p>\n<p>Then again, the central banks of the world had never even dreamed of\u00a0snatching<strong>\u00a0$22 trillion<\/strong>\u00a0of fiat credit from thin\u00a0air prior to 1995, either. But\u00a0in the nine years since the\u00a0financial crisis they generated\u00a0<em><strong>$14 trillion<\/strong>\u00a0<\/em>of new footings and more than\u00a0<em><strong>$20 trillion<\/strong>\u00a0<\/em>during the last three\u00a0bubble\u00a0cycles combined.<\/p>\n<p>Needless to say,\u00a0this\u00a0<em><strong>$20 tr<\/strong><strong>illion<\/strong><\/em>\u00a0emission of something for nothing has deformed and poisoned the entire warp and woof of the global financial system.\u00a0Everywhere financial asset prices have been massively inflated and falsified, causing a two-phase distortion of the global economy.<\/p>\n<p>Initially, massive money printing by the Fed fostered\u00a0defensive currency market\u00a0interventions (i.e. \u201cdirty floats\u201d) and\u00a0exchange rate suppression by the PBOC, BOJ, BOK\u00a0and other exporters of both commodities and industrial goods. Buying in dollars to sequester in their own central banks,\u00a0the mercantilist exporters of the world\u2014including the dollar-linked petro-states\u2014<em><strong>essentially imported the US dollar&#8230;<\/strong><\/em><\/p>\n<\/div>\n<p><a href=\"https:\/\/www.lewrockwell.com\/2018\/01\/david-stockman\/flying-blind-part-1-how-bubble-finance-destroys-economic-efficiency-and-rationality\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You could say thank\u00a0heavens they have\u00a0finally stopped buying the \u201cdip\u201d. Then again,\u00a0there apparently\u00a0aren\u2019t any left! That\u2019s the\u00a0case, anyway,\u00a0even if your notion\u00a0of a\u00a0\u201cdip\u201d is any day the market doesn\u2019t go up. So far\u00a0there has been exactly one such\u00a0occasion during 2018. Or\u00a0worse still,\u00a0if you assume the traditional metric of at least a 5% drop, you have already\u00a0been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-345537","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/345537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=345537"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/345537\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=345537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=345537"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=345537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}