Ann: Appendix 3B, page-3

A good read.....I like the bit "America is ungovernable and Europe even more so......." how true.......
Gold to rise......needs a trigger....more data coming this week.........one will puncture the market bubble.... eventually....
Move that dirt....

Yanis Varoufakis states:

“The crisis of 2008 won’t go away. It is a unified, solid crisis, although it is metamorphisising and changing. Between the 80s and 2008 the world economy was fuelled by US debt, then financialisation [the huge increase in credit] which created a pyramid of money which collapsed in 2008.

“The world economy lost its capacity to create demand for factories, but China reacted by creating a huge bubble. They were hoping the west would stabilise but it didn’t because America is ungovernable and Europe even more so.”

He has described the settlement imposed on Greece in July as doomed to failure and will “go down in history as the greatest disaster of macroeconomic management ever”.

Read more at:

http://www.theguardian.com/world/20...ng-of-world-economic-forces-it-cannot-control

The Dow has now totally disconnected from world economic reality.....