On Wednesday, the markets did a repeat performance of Tuesday by selling off early and staging a nice rebound in the afternoon. Nothing much changed in terms of our invested positions.
Today’s hat tip goes to Mish at Global Economics for posting a video, which tries to answer the question how some of the trillions of dollars that have been spent are being accounted for.
I had to listen to it twice, because I just could not believe that so much ignorance and incompetence actually exists.
It left a bitter taste in my mouth, and I’m still wondering if anyone is really in charge or feels some sense of responsibility.
Take a look: