- Published on Feb 5, 2016
If you were on Wall Street today, you would smell the rank stench of pessimism. Citigroup strategist Jonathan Stubbs was quoted in a recent report stating “The world appears to be trapped in a circular reference death spiral.”
Meanwhile, The Chinese company, Chongqing Casin Enterprise Group is attempting to acquire the Chicago Stock Exchange. A definitive deal requiring regulatory approval that is expected to be completed in the second half of the year. Bloomberg reports “The Chicago Stock Exchange — a subsidiary of CHX Holdings Inc. — is minority-owned by a group including E*Trade Financial Corp., Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to the company. The minority shareholders are also selling their stake…”
As free falling Chinese equities spill over and tank global markets, the Chinese with over 72 Billion invested in the United States are now being embraced by the United States criminal stock market class as their owner. While the DOW falls, mainstream media desperately announces that the U.S. created 151,000 new jobs in January and the unemployment rate dropped below 5% for the first time in eight years.
But that Fairy tale falls flat on its face. The Washington Examiner reports, The New Bureau of Labor Statistics reveals that 665,000 jobs were actually lost in January and that those supposed 151,000 added jobs appear to be employees taking on second jobs.
The American middle class has fallen below 50%, the millennial generation continues to struggle to enter the workforce and every taxpaying American owes $41,000 that will increase to $142,000 in about 20 years. But by then we may all be maintaining the robot workforce, living in homes the size of closets and speaking Chinese.