Europe

After yesterday's last hour selloff sent the S&P to the very edge of the critical support trendline which, as shown yesterday, meant 1980 had to be defended at all costs...

... so far the support has held, and in overnight trading European stocks have managed to rebound on the back of more levitation in oil, while US equity futures have ignored a drop in the USDJPY which touched 112.20 in morning trading, and have jumped by 0.5% as of this moment, up 10 points to 1,990.

Authored by Paul Craig Roberts,

In the 21st century Americans have been distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, that remain undefeated after 15 years. All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.

As you might have noticed, Europe is falling apart.

Some manner of ambiguous “deal” with the Turks notwithstanding, the EU is going to collapse under the weight of the millions of asylum seekers that have inundated the bloc over the past 12 months.

Submitted by Richard Fernandez via PJMedia.com,

Via EvergreenGavekal.com,

“The areas of consensus shift unbelievably fast; the bubbles of certainty are constantly exploding.”

– REM KOOLHAS, RENOWNED DUTCH ARCHITECT AND HARVARD UNIVERSITY PROFESSOR

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