Last week's dead cat bounce ended with a thud on Monday. Oil plunged, stocks retraced more than half of their bounce, and a couple of manufacturing reports reinforced the sense that the US is tipping into recession. Meanwhile, political systems around the world continue to teeter on the edge of (what establishment elites would consider) the abyss. A Donald Trump/Bernie Sanders race is now at least conceivable in the US this November, while formerly fringe parties of both the right and left are gaining power in Europe. That's what happens when you grossly mismanage the economy.