Home > Daily Reading on the Financial Markets, Financial Ponzi > Daily Reading on the Financial Markets: 1/23/13

Daily Reading on the Financial Markets: 1/23/13

Charles Hugh Smith contends that financial alchemy has not eliminated financial risk, rather it has simply passed it up to the next – and apparently final – level, that of the Central State.

From Pragmatic Capitalism, Edward Chancellor of GMO warns that China “looks like a bubble economy.”

John Hussman asserts that current levels of bullishness (in both price and sentiment) have almost always resulted in sell-offs as indicated in the chart below, where blue vertical represent times when bullishness has reached levels currently seen in US equities.

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