A Poorly Run Casino

A funny thing happened five years after the credit super cycle Big Bang, the capital markets have morphed into a poorly run casino. In our conference call last week on Morning Edge (thanks again to @pipczar) and in posts "Dystopia Now" and several to follow, we are outlining the now speculative foundation of the markets.
The plethora of reverse engineered explanations for movement cannot keep up with the change in the net change. Pedestrian understandings of the world are tripping into a paucity of executable ideas. In the "bizzaro-world" of Quantitative Easing, price is driven by position liquidation.
In the days to come we will attempt to show how "large specs" have taken over the majority position in futures markets from Wheat to 10 year notes since 2006. Technology, "for profit" exchanges and fear of loss recognition have transformed free market capitalism into a global craps table pass line.
Stay tuned, or should we say, "Comin' Out !"

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