The Worst Global Economy of Our Lifetimes, Part II

by Andrew Hoffman
Miles Franklin

Wow, what a crazy turn of events! To start, we saw perhaps the biggest one-day manipulative tsunami in financial market history; with the PPT and “oil PPT” turning the horrific results of the Doha oil producers’ meeting – i.e., the “most overhyped, non-event in financial history” – into a cause celebre, by reversing overnight stock and oil losses the second the NYSE opened. And in prototypical, Fed-like fashion, propagandizing of the “next” oil producer meeting in June, as the reason all will be fixed in the historically oversupplied oil market. Not to mention, the BOJ’s own, comically transparent manipulations (given that it already owns more than half of Japanese stock ETFs); when, following one of the worst earthquakes in Japanese history, they reversed the entirety of yesterday’s 3.5% Nikkei loss, this morning.

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