Final Word from Thursday, August 30, 2018

The world is fighting on more fronts than at any time in 70 years, trade wars are threatening vast swathes of the planet, and the global financial oligopoly is trying to bring Iran, Russia and Turkey to their knees, yet stock markets are soaring. "Record-setting US stocks ignore yield curve's red flag," announced the FT yesterday. Czechs are mostly impervious to these events, in part because their own stock market was long ago crippled by insiderism, but their livelihood nevertheless depends on what is happening on global financial markets. Insiders have long understood what is going on. It can be summed up as, "Pump, dump, blame Trump." We're still in the pump phase. The Economist quoted Goldman Sachs analysts last week as saying the probability of a bubble in U.S. shares is one in five. Soon, perhaps quicker than you can say Lloyd Blankfein three times, starts the dump phase by insiders. And of course Donald Trump will be right there to take the blame. [ Czech Republic exchange Prague PSE U.S. Financial Times ]

Glossary of difficult words

to pump (up a price) - to make the price of an asset rise by making favorable or misleading statements about it;

to dump - to sell or get rid of quickly;

swathe - a broad strip or area of something;

yield curve - a curve on a graph in which the yield of fixed-interest securities is plotted against the length of time they have until maturity;

impervious to - remaining unmoved by other people's opinions, arguments or suggestions; unable to be affected by;

insiderism - the characteristic behavior of insiders;

Lloyd Blankfein - the CEO of Goldman Sachs.

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