Was Brexit a Bear Sterns Moment and if so when is the Lehmans shoe going to drop?

[Mercury]

This is the most sarcastic and to the point commentary I have seen to date.  I have to admit I agree with all of it.

 

Doubt it will take another 6 months from Brexit to get the Lehmans moment this time but dangerous to bet against the self delusion of the market and the central bankers just now, got to wait for the turn to show itself.

 

http://davidstockmanscontracorner.com/its-not-just-the-brexit-stupid/

 

 

[Guest Ken]

UK is up because of -15% GBP devaluation, Most FTSE100 companies have income other than GBP...

[Mercury]

FTSE is up because US is up and traders are expecting more central bank stimulus, little to do with currency.  In my view the clear and dominate factor driving stock markets is central bank policy rather than fundamentals.  When that stops or when people stop believing central bankers can continue to prop up the world economies and hold back the tide of the natural crash that should have happened in 2008/09 then we will really see something and it will not matter where currencies are at.