Happy Veterans Day. Tho those of you with the day off enjoy the long weekend. Remember to thank a veteran if you see one for their service to our country.
"Veterans Day, formerly Armistice Day, is an annual United States holiday honoring military veterans. It is a federal holiday that is observed on November 11. It is coincides with other holidays such as Armistice Day or Remembrance Day, which are celebrated in other parts of the world and also mark the anniversary of the signing of the Armistice that ended World War I. (Major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918 with the German signing of the Armistice.)" Veterans Day - Wikipedia
I often mention that if our forefathers that fought for the liberation of this country would be rolling over in their graves if they could see this country today. Even some of the the current military don't like whats happening here now -
Showing posts with label end the fed. Show all posts
Showing posts with label end the fed. Show all posts
Friday, November 11, 2011
Thursday, February 18, 2010
Whutz In The Newz?
Isn't the market amazing? TD at Zero Hedge put it best, "So let's get this straight: we are hearing Iran is working on a nuclear warhead, an alleged rogue Mossad force in Dubai killing Hamas operatives, Greece about to file, Britain getting punished by a term that was in vogue when people still listening to a Flock of Seagulls, tax refunds getting halted, and now a possible redux of the Falklands war, and what do we have? A market that is up nearly 1% on vapor as a major "technical level was breached." The backstop - assorted central banks will be forced to rotate the "print" dial to Turbo Max. All we can say is LOL." Just another day in paradise!
SURPRISE! after the bell - Fed Begins Tightening Process: Discount Rate Raised To 0.75% From 0.5%, Futures Plunge, Dollar Surges. Nice of them to have verbiage like "the unforeseeable future" in their outlooks. I guess that means a week or two.
Mish paints a not so pretty picture in Unsustainable Spending Trends in Graphical Form; Monthly Treasury Statement February 2010. Remember the other day when I was encouraging you to do the math and how none of this can work? Well if you are mathmatically deficient, this will help.
We need to take a closer look into what may happen in Chinasooner than later and naked capitalism has a good read in Thinking the Unthinkable: What if China Devalues the Renminbi? The best quote, "It could get very ugly."
I believe Matt Taibbi is doing the best job at historically documenting what I believe is the truth behind most of this financial nonsense. While the history books will no doubt claim Greenspan and Bernanke as the next version of founding fathers. We all know better. Must read - Taibbi: "Goldman Raped The Taxpayer, And Raped Their Clients"
You knew I would get to the plane crash sooner or later. Here is ZH's posting of the suicide note, the uber conspiracy laced infowars post and Denninger gives you a more lively take in This Is How It Begins (Wanton Violence). My thoughts....Dude had enough and took action into his own hands. The comments around the web label him from crackpot to patriot. I'm leaning more to patriot. I do my part in writing congress, supporting End the Fed and various other items I slam down your throats every night. While not on this extreme, I would love to see us all do more to wakre up the nation to the financial raping we are all experiencing at the hands of the Fed, Congress and Wall Street. I am deeply sorry for those in the collateral damage field and wish them all speedy recovery (I do not know if there were any fatalities). Sadly the solution may take more larger profile actions like this to wake up our leaders and let them know we have had enough. While I do not promote or condone violence or any actions that may hurt another, I can't help but think that another Kent State is coming down the road and their ability to control the masses this time will be feeble in comparison to the anger they are instilling in us. This financial massacre has to stop and they are doing nothing, I mean NOTHING, to stop it and we may just have to take actions into our own hands one day if it is not already to late.
Can't wait to see the markets in the am after that rate increase. It is well known they are between a rock and a hard place. the have to raise rates but can't. I'm willing to speculate on more raise and then they revert to zero in the future as they attempt to keep the banks solvent and the economy humming (LOL) while attempting to reduce liquidity.
GL out there. It should be about to get really ugly.
SURPRISE! after the bell - Fed Begins Tightening Process: Discount Rate Raised To 0.75% From 0.5%, Futures Plunge, Dollar Surges. Nice of them to have verbiage like "the unforeseeable future" in their outlooks. I guess that means a week or two.
Mish paints a not so pretty picture in Unsustainable Spending Trends in Graphical Form; Monthly Treasury Statement February 2010. Remember the other day when I was encouraging you to do the math and how none of this can work? Well if you are mathmatically deficient, this will help.
We need to take a closer look into what may happen in Chinasooner than later and naked capitalism has a good read in Thinking the Unthinkable: What if China Devalues the Renminbi? The best quote, "It could get very ugly."
I believe Matt Taibbi is doing the best job at historically documenting what I believe is the truth behind most of this financial nonsense. While the history books will no doubt claim Greenspan and Bernanke as the next version of founding fathers. We all know better. Must read - Taibbi: "Goldman Raped The Taxpayer, And Raped Their Clients"
You knew I would get to the plane crash sooner or later. Here is ZH's posting of the suicide note, the uber conspiracy laced infowars post and Denninger gives you a more lively take in This Is How It Begins (Wanton Violence). My thoughts....Dude had enough and took action into his own hands. The comments around the web label him from crackpot to patriot. I'm leaning more to patriot. I do my part in writing congress, supporting End the Fed and various other items I slam down your throats every night. While not on this extreme, I would love to see us all do more to wakre up the nation to the financial raping we are all experiencing at the hands of the Fed, Congress and Wall Street. I am deeply sorry for those in the collateral damage field and wish them all speedy recovery (I do not know if there were any fatalities). Sadly the solution may take more larger profile actions like this to wake up our leaders and let them know we have had enough. While I do not promote or condone violence or any actions that may hurt another, I can't help but think that another Kent State is coming down the road and their ability to control the masses this time will be feeble in comparison to the anger they are instilling in us. This financial massacre has to stop and they are doing nothing, I mean NOTHING, to stop it and we may just have to take actions into our own hands one day if it is not already to late.
Can't wait to see the markets in the am after that rate increase. It is well known they are between a rock and a hard place. the have to raise rates but can't. I'm willing to speculate on more raise and then they revert to zero in the future as they attempt to keep the banks solvent and the economy humming (LOL) while attempting to reduce liquidity.
GL out there. It should be about to get really ugly.
Wednesday, October 7, 2009
Rant - Cause I Need It
Just how did we get to this point of total global economic screwedupness? Simple, those mother fuckers that worship power, greed, money and prestige took us down. They fucked not only this nation but the whole global economic system in the name of power and greed.
Guess what? They can't fix the problems either, so now they are in a large, sticky web of lies and deceit that is getting larger and larger. They are covering up shit with more shit and we all know that does not work. Sooner or later the floor under that massive pile of shit is gonna give. Guess who's standing under this huge pile of shit? Yup, you and me baby.
Do we deserve it, hmmmm...., somewhat. We took the bait and ran with it. What the fuck? It was free money and no one seemed to care who had it or where or how they spent it. We consumed and they kept giving us more money to spend. What the fuck was a nation with a negative savings rate and a WHOLE BUNCH OF ENTITLED MORONS to do? (Entitled my ass. What a spoiled ass POS nation we have become.)
Guess who is going to be standing high and dry after the shit falls? Uh, you guessed it. You see, those bastards are taking our money and saving their asses leaving us to pay for the mess. The TBTF and their bonuses, LMFAO. They are saving America. Without them you would have nothing. Go fuck yourself I say to that. You bastards got us here and I'd prefer you rot in hell and pay your penance rather than have anything to do with this "recovery".
The lies and bullshit have to stop. Unfortunately they will, but not because they threw so much shit on the pile that the problem went away, but because that pile of shit and lies is so big and growing at such a pace that no one will be able to dig their way out of this mess. Think of it as a set of dominoes lined up in a gigantic pyramid eternally expanding. The first 10 rows were manageable, but once they kept falling and expanding all control was lost. Systemic risk? Ha, our government and the Fed are it and caused all of it. What a freaking joke.
Mother fuckers. Kiss my ass. Fuck you I say. You took our trust and our money and threw it all away. I don't want to hear any apologies. You bowed to the special interest groups and FUCKED UP ROYALLY. You totally forgot why you are in Washington. You totally PISSED all over the Constitution and put your fucking self ahead of your constituents. If you can explain ANY reason why a group like ACORN is funded or give me a legitimate reason Sarb-Ox was canned, then I may have time to listen, but till then take your freaking lies and bullshit and stick 'em where the sun does not shine.
Hell, it has gotten so bad that the SEC is actually going back to work. Ain't that the shit. The total lack or any form of regulation from our representatives (who needs Sarbanes-Oxley anyway?) is astounding. We need a total overhaul of Washington. Maybe now the smoke screen of Hope and Change (Bush and Clinton are just as much to blame) has cleared and in this next election some real fucking issues will be addressed by real politicians (term used VERY lightly) speaking real truth and with actionable ideas. I won't hold my breath.
Our goose is not totally cooked cause we still got some dirt under our feet. As for everything else you can think of as reality, it may all end soon. Our bankers and the Fed and congress have really FUCKED the whole world and they are gonna get away with it cause WE are bailing them out (not by our choice though). It is time for some real change, and I have a feeling we're gonna let Washington know it before the next election, cause when that pile of shit falls we're all gonna be so pissed they won't be able to ignore us anymore.
END THE FED NOW!
I feel better now. Thank you.
For those of you that are new followers/readers to the blog, I apologize for the foul language above. I have to vent and many readers enjoy these. If you see rant in the title you have the option to simply ignore the post cause now you know what's coming.
Guess what? They can't fix the problems either, so now they are in a large, sticky web of lies and deceit that is getting larger and larger. They are covering up shit with more shit and we all know that does not work. Sooner or later the floor under that massive pile of shit is gonna give. Guess who's standing under this huge pile of shit? Yup, you and me baby.
Do we deserve it, hmmmm...., somewhat. We took the bait and ran with it. What the fuck? It was free money and no one seemed to care who had it or where or how they spent it. We consumed and they kept giving us more money to spend. What the fuck was a nation with a negative savings rate and a WHOLE BUNCH OF ENTITLED MORONS to do? (Entitled my ass. What a spoiled ass POS nation we have become.)
Guess who is going to be standing high and dry after the shit falls? Uh, you guessed it. You see, those bastards are taking our money and saving their asses leaving us to pay for the mess. The TBTF and their bonuses, LMFAO. They are saving America. Without them you would have nothing. Go fuck yourself I say to that. You bastards got us here and I'd prefer you rot in hell and pay your penance rather than have anything to do with this "recovery".
The lies and bullshit have to stop. Unfortunately they will, but not because they threw so much shit on the pile that the problem went away, but because that pile of shit and lies is so big and growing at such a pace that no one will be able to dig their way out of this mess. Think of it as a set of dominoes lined up in a gigantic pyramid eternally expanding. The first 10 rows were manageable, but once they kept falling and expanding all control was lost. Systemic risk? Ha, our government and the Fed are it and caused all of it. What a freaking joke.
Mother fuckers. Kiss my ass. Fuck you I say. You took our trust and our money and threw it all away. I don't want to hear any apologies. You bowed to the special interest groups and FUCKED UP ROYALLY. You totally forgot why you are in Washington. You totally PISSED all over the Constitution and put your fucking self ahead of your constituents. If you can explain ANY reason why a group like ACORN is funded or give me a legitimate reason Sarb-Ox was canned, then I may have time to listen, but till then take your freaking lies and bullshit and stick 'em where the sun does not shine.
Hell, it has gotten so bad that the SEC is actually going back to work. Ain't that the shit. The total lack or any form of regulation from our representatives (who needs Sarbanes-Oxley anyway?) is astounding. We need a total overhaul of Washington. Maybe now the smoke screen of Hope and Change (Bush and Clinton are just as much to blame) has cleared and in this next election some real fucking issues will be addressed by real politicians (term used VERY lightly) speaking real truth and with actionable ideas. I won't hold my breath.
Our goose is not totally cooked cause we still got some dirt under our feet. As for everything else you can think of as reality, it may all end soon. Our bankers and the Fed and congress have really FUCKED the whole world and they are gonna get away with it cause WE are bailing them out (not by our choice though). It is time for some real change, and I have a feeling we're gonna let Washington know it before the next election, cause when that pile of shit falls we're all gonna be so pissed they won't be able to ignore us anymore.
END THE FED NOW!
I feel better now. Thank you.
For those of you that are new followers/readers to the blog, I apologize for the foul language above. I have to vent and many readers enjoy these. If you see rant in the title you have the option to simply ignore the post cause now you know what's coming.
Thursday, October 1, 2009
Wow, I'm Actually Making Money Now!
Good thing as I dropped off the property tax bill today. So what do we have newsworthy tonight that can add some fuel to this fire? Hmmm, should not be hard to find if you ask me. I think you'll get a good laugh somewhere in this post.
TD and Zero hedge will lead us off with Nic Lenoir's Is This The Beginning Of The End Of The Ponzi Scheme? How bout this little factoid that will bring a smile to the premabears faces, "I saved the best for last: the LQD ETF which is basically a proxy for investment grade bonds which has been on a straight ramp up since October 08 seems to have broken its trend. Tha comes on the back of some observations over the last few weeks of some divergence between the CDS market which has made attempts to move wider while equities kept grinding up. This is by far the most important development. If the price action in the next 2/3 days confirms this break, then really it means the carry trade as a whole is starting to break down." As Cartman would say, sveeeeet!
Karl Denninger does the best job at ripping the preshredded fodder left over from the capitol hill grindings. Today he rips on Helicopter Ben in To Bernanke: It's Time To Stop Lying. "Or shall we talk about the "off-balance sheet" games, such as Wachovia's practice of writing CDS against their own tranches of OptionARMs as inducement to get people to buy them - a toxic brew that has now landed on Wells Fargo and remains undisclosed as to the exposure it presents to Wells from possible (or even probable) defaults! Wells has some $2 trillion of this off-balance sheet exposure and they're hardly alone in the (ab)use of these "QSPEs" - indeed, those are the same sort of vehicles that a really great energy-related company called ENRON was (ab)using to hide mounting losses that ultimately blew them sky-high." Note to Karl, stay away from the 5hr Energy man. You will blow. I can feel the angst being transmitted from your keyboard into mine and I don't need any more angst in my life right now.
OK, I'm not sure if this headline is a joke or not, Greenspan Calls Market Top Buahahahahaha, ROF, puke out nose, shart in pants! Thank you Naked Capitalism for my best laugh of the day. You mean the man with the troop of 1,000 economists (some salaried and some contracted) that all monitor this shit daily and missed the top in the first place, and YOU, yes you all by your little self, pull this out of your ass? You got to be freaking kiddin me? Uh, Mr. Greenspan, and your credibility to call this top would be? Yes? It would be?
Mish brings a rosy report from Rosenberg in Rosenberg: “We are certainly in a deflationary state”. "“We are certainly in a deflationary state,” said David Rosenberg, chief economist and strategist with Gluskin Sheff and Associates in Toronto. “Of that, there's no doubt. I think people still have no clue as to just how weak the economy is,” Mr. Rosenberg said." Uh, ok, now that is not what I heard on CNBS or from the leading ML analyst that took your old job. David, have you not had your government mandated green shoot tea today? Please report to the infirmary at once.
The Pragmatic Capitalist comes thru with it's daily must read in MUST READ: THE REAL REASON BEHIND THE FED SECRECY Sveeeet! You all know I love this shit.
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
- Thomas Jefferson
(Note: support audit the Fed HERE.)
Bhuahahahaha, ROF, puke out nose, shart in pants again! Oooh, better go clean that up.
Have a great night. Bhuahahahaha. He called a top. OMG, that's funny as shit.
TD and Zero hedge will lead us off with Nic Lenoir's Is This The Beginning Of The End Of The Ponzi Scheme? How bout this little factoid that will bring a smile to the premabears faces, "I saved the best for last: the LQD ETF which is basically a proxy for investment grade bonds which has been on a straight ramp up since October 08 seems to have broken its trend. Tha comes on the back of some observations over the last few weeks of some divergence between the CDS market which has made attempts to move wider while equities kept grinding up. This is by far the most important development. If the price action in the next 2/3 days confirms this break, then really it means the carry trade as a whole is starting to break down." As Cartman would say, sveeeeet!
Karl Denninger does the best job at ripping the preshredded fodder left over from the capitol hill grindings. Today he rips on Helicopter Ben in To Bernanke: It's Time To Stop Lying. "Or shall we talk about the "off-balance sheet" games, such as Wachovia's practice of writing CDS against their own tranches of OptionARMs as inducement to get people to buy them - a toxic brew that has now landed on Wells Fargo and remains undisclosed as to the exposure it presents to Wells from possible (or even probable) defaults! Wells has some $2 trillion of this off-balance sheet exposure and they're hardly alone in the (ab)use of these "QSPEs" - indeed, those are the same sort of vehicles that a really great energy-related company called ENRON was (ab)using to hide mounting losses that ultimately blew them sky-high." Note to Karl, stay away from the 5hr Energy man. You will blow. I can feel the angst being transmitted from your keyboard into mine and I don't need any more angst in my life right now.
OK, I'm not sure if this headline is a joke or not, Greenspan Calls Market Top Buahahahahaha, ROF, puke out nose, shart in pants! Thank you Naked Capitalism for my best laugh of the day. You mean the man with the troop of 1,000 economists (some salaried and some contracted) that all monitor this shit daily and missed the top in the first place, and YOU, yes you all by your little self, pull this out of your ass? You got to be freaking kiddin me? Uh, Mr. Greenspan, and your credibility to call this top would be? Yes? It would be?
Mish brings a rosy report from Rosenberg in Rosenberg: “We are certainly in a deflationary state”. "“We are certainly in a deflationary state,” said David Rosenberg, chief economist and strategist with Gluskin Sheff and Associates in Toronto. “Of that, there's no doubt. I think people still have no clue as to just how weak the economy is,” Mr. Rosenberg said." Uh, ok, now that is not what I heard on CNBS or from the leading ML analyst that took your old job. David, have you not had your government mandated green shoot tea today? Please report to the infirmary at once.
The Pragmatic Capitalist comes thru with it's daily must read in MUST READ: THE REAL REASON BEHIND THE FED SECRECY Sveeeet! You all know I love this shit.
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
- Thomas Jefferson
(Note: support audit the Fed HERE.)
Bhuahahahaha, ROF, puke out nose, shart in pants again! Oooh, better go clean that up.
Have a great night. Bhuahahahaha. He called a top. OMG, that's funny as shit.
Monday, September 14, 2009
Mind Boggling News Events Continue To Boggle The Mind
Let's start with the HufPo's Priceless: How The Federal Reserve Bought The Economics Profession. This one will blow your mind and is a must read. "Even the late Milton Friedman, whose monetary economic theories heavily influenced Greenspan, was concerned about the stifled nature of the debate. Friedman, in a 1993 letter to Auerbach that the author quotes in his book, argued that the Fed practice was harming objectivity: "I cannot disagree with you that having something like 500 economists is extremely unhealthy. As you say, it is not conducive to independent, objective research. You and I know there has been censorship of the material published. Equally important, the location of the economists in the Federal Reserve has had a significant influence on the kind of research they do, biasing that research toward noncontroversial technical papers on method as opposed to substantive papers on policy and results," Friedman wrote." ROF LMAO - they own 'em ALL. No one on the payroll or with any thought of advancing in the field will ever speak against them. the funniest part, how the 220 PHD's on staff all missed this one coming. Simply mind boggling.
The FT brings us, Court rejects SEC settlement with BofA Judge Rakoff holds serve and sends 'em to court in February of 2010. "In Monday’s order, Mr Rakoff wrote that the settlement “does not comport with the most elementary notions of justice and morality, in that it proposes that the shareholders who were the victims of the bank’s alleged misconduct now pay the penalty for that misconduct”." What is mind boggling about this one is that justice may actually be served and may be gaining momentum.
Calculated risk has Failed Banks and the Deposit Insurance Fund. this is a real gem that hits home to me. "The cumulative estimated losses for the DIF, since early 2007, are now over $42.5 billion.Regulators closed three more banks on Friday, and that brings the total FDIC insured bank failures to 92 in 2009. At the recent pace, regulators will probably close around 150 banks this year - the most since 1992." That is a mind boggling $42.5 billion they are now in the hole and possibly hundreds or thousands of more banks to fail? Heloooo?
And from Pragcap.com - DAVID TICE: THE S&P IS GOING BELOW 400 You know I could not resist this one. "David Tice is undeterred by the 50% rally in stocks. In his latest interview he says the market will fall over 60%." There is a link to the full interview there. Nice to hear one realist out there with a mind boggling prediction the pundits at CNBS can not fatham.
And last but not least our friends at Zero Hedge dug this up at Bloomberg: China Probes ‘Unfair Trade’ in U.S. Chicken and Auto Products. Mind boggling to think that China is complaining about fair trade practices. "Chinese industries complain that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday. The dumping investigation relates to poultry alone, a spokesman said in Beijing today. The ministry didn’t specify the value of imports of the products."
GL trading.
The FT brings us, Court rejects SEC settlement with BofA Judge Rakoff holds serve and sends 'em to court in February of 2010. "In Monday’s order, Mr Rakoff wrote that the settlement “does not comport with the most elementary notions of justice and morality, in that it proposes that the shareholders who were the victims of the bank’s alleged misconduct now pay the penalty for that misconduct”." What is mind boggling about this one is that justice may actually be served and may be gaining momentum.
Calculated risk has Failed Banks and the Deposit Insurance Fund. this is a real gem that hits home to me. "The cumulative estimated losses for the DIF, since early 2007, are now over $42.5 billion.Regulators closed three more banks on Friday, and that brings the total FDIC insured bank failures to 92 in 2009. At the recent pace, regulators will probably close around 150 banks this year - the most since 1992." That is a mind boggling $42.5 billion they are now in the hole and possibly hundreds or thousands of more banks to fail? Heloooo?
And from Pragcap.com - DAVID TICE: THE S&P IS GOING BELOW 400 You know I could not resist this one. "David Tice is undeterred by the 50% rally in stocks. In his latest interview he says the market will fall over 60%." There is a link to the full interview there. Nice to hear one realist out there with a mind boggling prediction the pundits at CNBS can not fatham.
And last but not least our friends at Zero Hedge dug this up at Bloomberg: China Probes ‘Unfair Trade’ in U.S. Chicken and Auto Products. Mind boggling to think that China is complaining about fair trade practices. "Chinese industries complain that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday. The dumping investigation relates to poultry alone, a spokesman said in Beijing today. The ministry didn’t specify the value of imports of the products."
GL trading.
Wednesday, September 9, 2009
Afternoon Delight - Which Way Do We Go? (Mini Rant)
This is a copy of a post I did for www.stocktock.com.
IMO this is a really tough point in the market right now. You have the bears all (rightfully) screaming how bad things are and then you have GS throwing out upgrades like candy. Is this the end of 2 of 1 of P3 and we have a 3 of 1 in our sights? Is this 1 or 3 of C of P2 up? What is an investor to do? Really tough point right here. One thing for sure, nut cuttin time is upon us and we’ll know for sure pretty soon which count is right. A higher high places the P3 top callers on hold a little while longer and keeps us on the parabolic train of love.
Update: NASDAQ hit a new high. SPX stopped withing 2 points. Dow came within 60 points. This may have some screaming double top.
A simple glance at the weekly indicators combined with the P/E multiples of the SPX (and the plethora of other financial and economic issues) and you get that dizzy feeling like you are standing on a girder about 1,000 feet up with no safety rope or net. All it will take is one stiff wind and you are toast.
So Shanky, what’s the problem? Why can’t you figure out which way we should go? Well, GS and the Fed and the Treasury and our government are the problem. You see the reflation trade has been blowing smoke up this economy’s butt for over a year now and has created nothing but optimism of a V shaped recovery. This is what you firmly believe if you are a CNBS disciple, yet that is not reality IMO. The TARP funds have been nothing but a prop for the still IMO insolvent banks. The TARP funds were a waste of good money being thrown down the rabbit hole of economic fantasy.
Why bother to reflate the bubble that got you all of the problems in the first place? So the insolvent banks can put on a pump and dump and take all your money so they can survive. Who gives a shit about you or your future, you little worm undisciplined ignorant investor? The banks are the big boys and they need to survive. You dear investor are an expendable asset in this shell game.
IMO America has been taken to the bank by first Paulson and his fear mongering and second Bernanke, Timmay and the administration. Here is the deal and Karl Denninger at The Market Ticker loves to harp on this. The banks made the bad loans and are not having to pay the price – YOU ARE. You can’t have it both ways. You can’t take from the poor and give to the rich and make it work. You see the consumer is 70% of GDP and without the consumer having jobs, credit, savings and some sort of manageable debt ratio, it all fails. You see, they sucked us all in (well most of us) to the cheap credit must own a home inflated bullshit rape of American wealth. Did they give a shit about you or me. Hell no! This is where fractional reserve lending comes in.
In Ron Paul’s absolutely must read End The Fed you get to know the history of the Fed, fractional reserve lending and how and why we got where we are today. You see those greedy mofo’s wanted it all. They wanted to die with the most toys and win the game. Problem is the game is still going. They screwed the game for everyone and now YOUR government is basically siding with the banksters and saving their collective asses and leaving us out to dry.
This is bullshit and leads us back to why P3 will happen and any other count is a bunch of crap. To learn what I think is the truth please visit Zero Hedge as it is IMO the best resource on the web for the truth about manipulated markets and the shenanigans they are playing with your welfare. The pump and dump is nearing an end. P/E multiples are exponentially high. Insider sells are at a 95 to 5 ratio. 40% of mortgages are underwater, CRE will crash, unemployment will continue to grow and is not being factually reported, the consumer is dead, blah, blah, blah and CNBS will lead you to believe the Haynes bottom is in and a V shaped recovery is all but guaranteed. WAKE UP SHEEPLE! You dear reader/investor have to make a choice here and soon. Do you feel lucky? Will the manipulators carry out the scam of 1,000 years and continue the HFT front running and market prop to even further unsustainable heights or does it turn here? Is this P3 or P2? We’ll know in a week or so which count is right.
Sorry I can’t answer the question for you, but I have done really well siding with the manipulators. I still believe we are in P2 and have one more leg up to C. Maybe the mutual funds have enough in them to get one more good QE statement out of the market. Maybe there are a few more upgrades left or GS will create a new “super buy” recommendation to garner a little more room for further upgrades. Maybe Ben will trump the dollar down to complete its wave count one last time. I have wanted a 1050 to 1121 top in early October, so I will stick to the call. BUT I will also be playing it as the market top is in. I am not playing this or any speculated run up. I am short in SDS at this time and looking to add to shorts. I do have a plan and stops in place if the trade should go bad, but I will not chase this move any higher at this time.
GL trading,
Shanky
IMO this is a really tough point in the market right now. You have the bears all (rightfully) screaming how bad things are and then you have GS throwing out upgrades like candy. Is this the end of 2 of 1 of P3 and we have a 3 of 1 in our sights? Is this 1 or 3 of C of P2 up? What is an investor to do? Really tough point right here. One thing for sure, nut cuttin time is upon us and we’ll know for sure pretty soon which count is right. A higher high places the P3 top callers on hold a little while longer and keeps us on the parabolic train of love.
Update: NASDAQ hit a new high. SPX stopped withing 2 points. Dow came within 60 points. This may have some screaming double top.
A simple glance at the weekly indicators combined with the P/E multiples of the SPX (and the plethora of other financial and economic issues) and you get that dizzy feeling like you are standing on a girder about 1,000 feet up with no safety rope or net. All it will take is one stiff wind and you are toast.
So Shanky, what’s the problem? Why can’t you figure out which way we should go? Well, GS and the Fed and the Treasury and our government are the problem. You see the reflation trade has been blowing smoke up this economy’s butt for over a year now and has created nothing but optimism of a V shaped recovery. This is what you firmly believe if you are a CNBS disciple, yet that is not reality IMO. The TARP funds have been nothing but a prop for the still IMO insolvent banks. The TARP funds were a waste of good money being thrown down the rabbit hole of economic fantasy.
Why bother to reflate the bubble that got you all of the problems in the first place? So the insolvent banks can put on a pump and dump and take all your money so they can survive. Who gives a shit about you or your future, you little worm undisciplined ignorant investor? The banks are the big boys and they need to survive. You dear investor are an expendable asset in this shell game.
IMO America has been taken to the bank by first Paulson and his fear mongering and second Bernanke, Timmay and the administration. Here is the deal and Karl Denninger at The Market Ticker loves to harp on this. The banks made the bad loans and are not having to pay the price – YOU ARE. You can’t have it both ways. You can’t take from the poor and give to the rich and make it work. You see the consumer is 70% of GDP and without the consumer having jobs, credit, savings and some sort of manageable debt ratio, it all fails. You see, they sucked us all in (well most of us) to the cheap credit must own a home inflated bullshit rape of American wealth. Did they give a shit about you or me. Hell no! This is where fractional reserve lending comes in.
In Ron Paul’s absolutely must read End The Fed you get to know the history of the Fed, fractional reserve lending and how and why we got where we are today. You see those greedy mofo’s wanted it all. They wanted to die with the most toys and win the game. Problem is the game is still going. They screwed the game for everyone and now YOUR government is basically siding with the banksters and saving their collective asses and leaving us out to dry.
This is bullshit and leads us back to why P3 will happen and any other count is a bunch of crap. To learn what I think is the truth please visit Zero Hedge as it is IMO the best resource on the web for the truth about manipulated markets and the shenanigans they are playing with your welfare. The pump and dump is nearing an end. P/E multiples are exponentially high. Insider sells are at a 95 to 5 ratio. 40% of mortgages are underwater, CRE will crash, unemployment will continue to grow and is not being factually reported, the consumer is dead, blah, blah, blah and CNBS will lead you to believe the Haynes bottom is in and a V shaped recovery is all but guaranteed. WAKE UP SHEEPLE! You dear reader/investor have to make a choice here and soon. Do you feel lucky? Will the manipulators carry out the scam of 1,000 years and continue the HFT front running and market prop to even further unsustainable heights or does it turn here? Is this P3 or P2? We’ll know in a week or so which count is right.
Sorry I can’t answer the question for you, but I have done really well siding with the manipulators. I still believe we are in P2 and have one more leg up to C. Maybe the mutual funds have enough in them to get one more good QE statement out of the market. Maybe there are a few more upgrades left or GS will create a new “super buy” recommendation to garner a little more room for further upgrades. Maybe Ben will trump the dollar down to complete its wave count one last time. I have wanted a 1050 to 1121 top in early October, so I will stick to the call. BUT I will also be playing it as the market top is in. I am not playing this or any speculated run up. I am short in SDS at this time and looking to add to shorts. I do have a plan and stops in place if the trade should go bad, but I will not chase this move any higher at this time.
GL trading,
Shanky
Subscribe to:
Posts (Atom)