Look Out Below! The Red Ponzi’s All That Matters To Markets

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By David Stockman

Investors are trying to understand what yield curves are telling us,” said the CIO. “They listen to every word from the Fed, trying to figure out what they’re up to, whether they’ll succumb to the pressure to ease rates,” he said. “And strategists serve up all sorts of charts comparing what is happening in today’s economy with unemployment, credit spreads.” Then he paused. Smiled. “But never has China been such a big part of the global economy. Its influence dwarfs all else. Which renders history mostly meaninglessChina is all that matters.

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