So far this morning, the idiocy of Wall Street Whitey continues. Ford is down -3SD, and so is Magna, so I guess Whitey thinks a stupid reversible referendum in the UK will cause a worldwide recession. That's confirmed by CN also being -3SD.
I guess this'll continue til the TA says it won't, because that's all these idots are trading on, otherwise they'd be lapping up Royal Bank's 4% yield as UST10Y drops below 1.5%.
New Deal Demoncrat - still no sign of a recession. But don't let that stop you piddling, Whitey.
Calculated Risk - largest US population cohorts are now 20-24 and 25-29. This may be a case of "demographics trumps economics", Bill. But then again, last time demographics trumped economics, the US government invested trillions to build future productivity via the Marshall Plan, the US Interstate system, NASA, and the GI Bill. So really, policy trumped economics. Nowadays, policy aims to cause a worldwide depression. Can demographics trump that?
Simon Wren-Lewis - blah blah Brexit. Literally everyone English is all weighing in. And worse, the lefty blogs are now making it all about Corbyn, as if he has a fucking duty to bail out the banksters: whatever happened to labour being in fundamental opposition to the ruling class? Fuck you all and your quaint nostalgia for the lickspittle centrism of Tony Blair, you fake lefties. But the interesting stuff is in the comments, such as:
Ages 18-24 Leave 27%, 25-34 38% Leave, 35-44 48% Leave.Like I said, figure out how Ena Sharples votes, and that will tell you the election result. Always. And Ena Sharples votes with the Daily Mail.
And as for the rise anti-European Nazi populism in England: the people wouldn't be forced to swing Nazi to oppose Europe if Militant Tendency were still around, would they, Simon? It wasn't Labour who fought the Poll Tax, it was Militant. And it wasn't Thatcher who killed off Militant, it was fucking Kinnock. So fuck you, ivory-tower socialists in academia. Go join Tim Farron, you fucking Quislings.
Polly's Panties - like the Cuban missile crisis, sense will prevail. Here's a quote from the Institute of Give Your Head a Shake:
Humankind has a natural inclination to avoid pain. If UK votes to leave and it threatens other countries' economic stability then other countries will do what they can to alleviate it.But nobody reads his blog anyway, so they'll likely continue to assume sense won't prevail.
There is punishment and there is mutually assured destruction. It's much like the cold war. Threats are made but when fingers are on buttons they will waiver and diplomacy will take over to avoid net sufferance.
I cannot believe that the EU, whose behaviour has constantly displayed a 'whatever it takes' response to survival, would let a Brexit vote paint themselves into a corner of sufferance.
As any parent knows, threats of punishment before the action are a different matter once the action has taken place. Negotiation and compromise is still most likely.
If we seriously think that, as the FT has suggested, the likes of the Mexican Peso's fate is in the balance of Brexit then something is messed up. Shock is one thing but reality is another. The tertiary correlations should be faded.