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Who believed that central banks’ financial perpetual motion machine was anything more than trickery designed to generate phantom wealth ?

Greed is a powerful motivation to be an ardent believer in the central banking cult. The ideal cult convinces its followers that it isn’t a cult, it’s simply the natural order of things.

It’s not just the price of oil that matters: how much disposable income consumers have left to buy more goods and services matters, too. The Oil Curse (a.k.a. The Resource Curse) refers to the compelling ease of those blessed with an abundance of oil/resources to depend on that gift for the majority of state/national revenues.

Few seem alive to the potentially consequential financial risks arising from uncertainties evolving in China. One thing we know rather definitively is that markets don’t like uncertainty: uncertainty is Kryptonite to markets.