Thursday, March 11, 2010

Can You Take Me Higher?

Like the (sad) death of the big haired bands of the 80's (yes, I loved them dearly - and they still dominate my ipod) this market will suffer the same fate. The Can You Take Me Higher theme is running it's course and will suffer the same dismal fate. The credit bubble will die like disco (who's songs also survive on my ipod). I expect Geitner and Bernanke to suffer the same fate as Elvis (yes, he's still alive - and his songs are on the ipod as well), a drifting off into obscurity in some sort of witness protection program (Morrison is dead, sadly).

It is all culminating at this point. You have been witnessing the greatest financial destruction the world will ever experience. Yes, you are part of history (especially since you will be paying for this disaster for many decades to come). You understand that the fraudulent commentaries of the MSM and the brokers parallel the commentary to the times of the great depression today. Many are drawing parallels to the market's actions of the '30's to today. You have read about the soup lines of the great depression and should be prepared for the same to come. This is the end (yes, the 60's and 70's were full of the best music).

TPC has BULLISH SENTIMENT SURGES NEAR JANUARY HIGH. An enlightening post that HIGHlights the euphoric, meth induced sentiment that is overriding the market right now.

naked capitalism has Spain’s woes and Germany’s export model could mean double dip an enlightening post that delves into the world of the possible double dip mentality. "What you have here is a perfect recipe for a double dip and a serious economic nightmare.  Unless Germany can get its consumers to start spending more, Germany and the Eurozone are going to double dip, something Edward Hugh has already considered even before Germany’s crumbling export data were released." And you were wondering why Germany would not post a measly $5bn bond for Greece to get out of jail?

Washington Post has a nice fluff article leading into election season. House bans earmarks to for-profit companies - Now, I normally don't report on bullshit like this and the purpose is to show you the meaningless crap that is happening in your Capital (and being reported by the MSM). While the rhetoric surrounding this proposed bill will be great, we all know nothing will come from it.

In contrast to the above - try this 82% of Americans: Clamp Down on Wall Street • Financial Experts: Rein In Big Banks to Save Economy • Politicians: Keep Them Lobbying Dollars Coming! real reporting from Washington's Blog. Now, you tell me why the blogs are winning over the readers.

It is quite possible the root of all evil is being reported on by the Times Online in Chief exorcist Father Gabriele Amorth says Devil is in the Vatican.Funny, we all know he's inhabited 85 Broad. how can he be in the Vatican as well?

I told you this was coming. I nailed this one. In Hardball In New Jersey, No Balls In Virginia; Brass Balls In Las Vegas Mish covers more municipal high jinks.In Virginia they haned out like a million traffic tickets over the weekend. I warned that municipalities would resort to this. Anything to balance the budget. So you better get that tail light fixed and stay near the speed limit, they are on the prowel and need your fines.

In the most important release of the day ZH reports New Flow Of Funds Report Demonstrates Massive Selling In Agency & MBS Holdings Away From The Fed. In my continuation of "you do the math" postings, TD has "We, instead focus on Tables F.209 and F.210, the detailed listing of holders of US Treasuries and Agencies/MBS securities, as this is precisely where the Fed is the dominant market maker, and the means by which Ben Bernanke continues to manipulate the market by being the perpetual bid for 5% and lower yielding securities, thereby forcing all other yield chasers to go lower in the cap structure and buy, buy, buy all equities." I have been telling you they are doing anything they can to save the market and make it the only game in town.

Announcing Shanky's Tournament Championship Blog Bracket! Yes, you can compete for bragging rights with the other readres in a blood bath that will resemble the social discord that will follow the meltdown of the markets. Want to join the bloodbath? It is easy  - Go to the ESPN Tournament Challenge link HERE - click to join a group - find the group shanky's blog , click on it and your password is  - shanky  (original - I know). Invite all your friends. Pass the word around. I'll be updating the blog during the tournament with results. It should be fun.(feedback on the sign up process and other stuff is encouraged).