There is chaos in global markets. I may post everyday because finally something is happening. Something any reasonable person expected to happen. The only mystery is why it took so long. I never thought this central bank reflation nonsense was going to work, and it's imploding right now all over the world. Mighty China is leading the way down.
The nitwits on NPR were talking about "learning lessons" today as they urged people not to panic and stay in the market. They were so desperate to prop up the status quo that they started talking about how loss aversion causes people to panic & sell (as the VIX goes off the chart).
There's only one lesson to be learned in August, 2015:
Humans came to believe that the "new normal" was normal.
Which comes as no surprise at all. The "new normal" was never normal. And now there's even more panic because the Fed may raise interest rates by a whopping 25 basis points! (That's 1/4 of 1 percent.)
I couldn't stop laughing reading David Stockman today.