0 care, as in zero care not O care, this may just wind up being the STB "event" that ends it all. A fascist, socialist, totalitarian, statist plan to give health care coverage to all, that is so un-american on so many levels, created in the bowels of the democratic/socialist party, is about to be implemented.
The plan that would not impose new taxes, that could not be read by congress before passing it under near blackmail circumstances (a regurgitating theme these days for any bill it seems) not long after Captain Transparency was elected promising a bill reading grace period, that democrats and labor unions even oppose is about to be turned on. A plan that is 0's legacy will be the president's greatest failure (and that's saying a lot).
How did we devolve to a point where doing something that so many despise and loathe (on both sides of the fence), something that we know is going to be a total train wreck, can be passed into law and acted upon? Two words, Patriot Act. The act that basically makes Obummer an imperial ruler is the reason. The act that allows him and his government unlimited power over the people is how.
How have we sunken to a point so low that we can not remove a known and proven liar and possibly psychopath from the presidency? Take a look at 252 Documented Examples of Barack Obama’s Lying, Lawbreaking, Corruption, Cronyism, etc. , and now you can add to that list Obama on Obamacare: “We did raise taxes on some things.”. Fear of personal persecution from a tyrannical administration is how.
I'll leave race out of the discussion today, but I think it has some relative merit in this conversation. I'm not quite mad enough to go there, but it will be discussed here in the future.
STB has documented the many thousands of job losses that have already been associated with the implementation of this bill. STB has documented the layoffs and transformation to a part-time labor force as a reaction to this bill. All of this at a time when employment is more critical than ever, this plan is destroying many businesses' ability to function normally and fully employ. There has never been a time in history where it is more important to be pro business and we get this.
The great global ponzi is when China and other countries buy our debt so we can spend that money buying lead laden trinkets from them to passify our needs as consumers. Now China and other countries are net sellers of our debt, our consumer is tapped out, the Fed is having to print money to make up the (double if not triple) difference forcing us further into debt and devaluing our dollar, and the Fed is now tapped out. This is not good and is beyond the point where we can ever recover from our printing. All that and we're going to implement the most idiotic heath care plan ever conceived?
Folks, this is the end of the road for this great nation. With the failure of the great global ponzi and the fact that government for decades has supported corporations shipping our jobs overseas, we can not support anything anymore, much less a socialist healthcare plan. This will be the last straw, and on that race issue I ignored above, who the hell is going to destroy the first black president's legacy, no matter how devastating it is to the country, and get away with it? Can you say race riots?
They have us cornered folks, get used to it. From the CIA, DHS, IRS, FBI, TSA, FSA, NDAA, CISPA, you name it, they have us in complete lockdown. This man (who some believe is the head of the Muslim brotherhood - which I can believe) has lied his way to the top and is destroying this country from the inside. Yes, it is partly Bush's fault, he got the ball rolling. Sadly, it is the man who campaigned as the anti-bush, the man who promised hope and change, Captain Transparency, that has not only continued Bush's legacy but furthered and improved it along the way making some believe that hes not the anti-bush but the antichrist. And how is this man still president again?
Good luck out there. It's about to get really rough.
As for the markets -
I've been top hunting and if this thing cracks support here I may throw the towel in. A quick note to those that are bullish, be that way, be right all the way to SPX 4,000, but in the end when this all turns to dust and you think you are rich as shit piling up all that fiat, if you have not been diversifying into physical assets and out of the dollar you will lose, big time. Take the risk, be as greedy as you like, but remember pigs do get slaughtered. Up may be the right call for the market, but being long this farce with all your chips is not the prudent thing. I'm about to start defending the bear camp with a bit more gusto.
SPX Daily - Technicals will matter again one day, I promise, but till then taper off means QE on. Till they stop easing or till my "event" happens they remain in complete control of the market and it will only go where they want it to. If 1687 goes you have to look to gap fill, 1666 support and MAJOR diagonal support. If that blue support goes, I think it is all over and 1600 comes into question. The lowest blue line near 1540 is the ultimate bail point.
Minis 60m - yellow support and 1687 just what STB has been looking for. And this is a pretty major support point. Possible RS ramp job here should be heeded by the bears coming off 87 and yellow channel support. If this cracks I'll refer you to my red major support diagonal. This is kinda like a death line I believe, cause if that goes (near 1646 now) it whould be all over.
More to come below.
Have a good day.
GL and GB!