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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
  • IYT Faces Resistance Cross-road 0 comments
    Nov 6, 2012 3:18 PM | about stocks: IYT

    Many economists like to look to Transports for a clue on the health of the broad economy. The Dow Jones Transports ETF (NYSEARCA:IYT) has rallied up to a clear resistance trend line that has been in place for the last two years. The broader pattern is a pennant, which is pretty neutral. A break higher for IYT would support the idea that markets are ready to rally into year end.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: IYT
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