I have had a lot of fun with the centralized policy making over the years. Recall the Outer Limits theme?
There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will control the horizontal. We will control the vertical. We can roll the image, make it flutter. We can change the focus to a soft blur or sharpen it to crystal clarity. For the next hour, sit quietly and we will control all that you see and hear. We repeat: there is nothing wrong with your television set. You are about to participate in a great adventure. You are about to experience the awe and mystery which reaches from the inner mind to – The Outer Limits.
Well, control is being lost as we originally projected when we began the Macrocosm theme nearly a year ago. The ‘confidence declines’ planet (which should be larger, along with ‘yield spreads rise’) has been in play all along.
So that paints our friends at the G7 in a sort of comical light as they scurry to ameliorate markets driven by downside panic momentum. From MarketWatch…
 This just in…
Cue the klown kars, but realize that their tricks are getting old and tired.
Ooh, he’s bearish again!
No, not so. Not necessarily, regarding certain items in the US and global investment casino. Just pointing out the comical view of policy clowns doing what they always do, even though their time is indicated to have come and gone. Britain’s exit is probably not a ‘one off’ in the ‘global confidence decline’ sweepstakes.
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