I was going to pen a stinging hit piece on how giddy the media is over the Fed wasting $600 billion dollars to stimulate foreign economies. I was going to discuss the difference between QE1 and QE2 and how QE2 is far more sinister and lacks the innocence of Fed policy enacted during a crisis. But then I realized my own words: “whining over things beyond your control is an exercise in futility.” So instead of throwing raw meat at the mob, I’ve decided to be constructive, all part of “The New Fly’s” persona.
Forget about the economy, for it is doomed. The Fed couldn’t care less about jobs or the dollar or you. The market is rigged, from the top all the way down to the bottom. Upright walking pigs, aka mutual fund managers, are mandated to invest in equities, no matter what. They simply take your money and toss it into barrels of flaming garbage. True wealth is being created abroad. Look no further than the profits of your favorite stocks—all overseas. That’s what the market is all about, right or wrong. Sometimes it’s difficult to accept America’s second tier status, which induces investors (myself included) to act rashly when witnessing bad data, here at home. It’s not about us anymore.
This is a country full of Brett Favre’s, once great but now past its prime. Slowly but surely, people will accept this new normal and send their money abroad, right alongside the QE miracle bucks.
UPDATE: I sold out of MERU, north of $16.
[youtube:http://www.youtube.com/watch?v=ke6VpcWsLlE 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
Patriotic, but sad.
Frankly… that scares me.
Holy shit, that’s powerful. An obvious comparison only after I read it.
You sound like a whiny pasty faced liberal.
You are a filthy animal.
As those miracle bucks swim away from our shores, so will the wealth of the lower / middle class in the form of egregious dollar devaluation. Pain is coming to the proles. Either eat your heart out over it, or position for it. At least the distinguished gentlemen of iBC know enough to see it coming. 99% of the people I know are going to get sucker punched because they have no idea, nor do they have the intelligence or conviction to do anything bout it even if their eyes were opened.
I think California needs a separate currency — Kelly-Phonia Bux.
They can only be traded for broccolini, new leather soles, and razor blades. Everything else in Kelly-Phonia is on the barter system.
Faceplates of Moonbeam and Boxer on the Kelly-Phonia Bux $1 and $5 denominations, respectively, to remind the citizens “why.”
Maxine Waters on the $100.
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Great post, I like New Fly.
What we need is a ’70’s style Roger Staubach Nation…
But it’s a Golden Richards economy.
You name your child Golden he had better make something of him or herself…
At least Billy Graham had the sense to withhold that moniker from young Franklin.
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But he could never escape his nickname – Wheetabix.
Does the PPT include % of revenue derived from emerging markets/overseas for each stock in the database?
its been about overseas for quite some time now.
problem is, about that any hag making a street vending munge can get a ticker cymbal. in china that is.
Instead of buying treasuries, why can’t they spend money to improve the infrastructure of the US? Build high speed trains, nuclear plants, high-tech manufacturing plants, a better electrical grid, etc.. This would inject money into the economy by way of the unemployed construction worker / engineer / project manager, and also produce something tangible that will have lasting value. This constructed ‘wealth’ could not leave the country either. Using the money to play around with asset prices in an attempt to stimulate the economy is like watering a dead tree, we need something more drastic.
The Obstructionist Republicans won’t let Obama do that.
Right, because the Democrats who were in total control for the last two years were so good at making those investments already.
The Government should not be spending money on “investments” at all. They are a group of cluetards who are driven only by politics instead of reasonable returns.
Are you crazy? Haven’t you ever heard PJ O’Rourke’s famous maxim?
“Giving tax money to Democrats is like giving booze and the car keys to teenage boys.”
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So who fixes the grid and our modernizes our transportation infrastructure … GE?
http://bit.ly/cnzoyg (WSJ article from 11/2)
We are building a high speed passenger railway! Between to Madison to Milwaukee! 77 miles of luxury transport reaching speeds of .. get ready for it… up to 79 mph! Serving the combined 700k residents of these two megaopolis’ will only cost $810M in US federal grant money.
China ain’t got nothin’ on us!
The future is here! I think they should connect Fargo, ND and Jackson, WY too.
79 mph! Wow! I’m pretty sure that science has shown that humans can’t survive at such vast speeds.
The Fly nails it once again.
time for baked vitti with gravy and a lamb steak on the grill. too much qe2
What’s baked vitti?
It’s like baked zitti, except with yak hair.
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I thought it might be some nouvelle New Jersey cuisine trend.
China Winter coming…..they don’t have Christmas like we do………my question, At what point does this thing all stop and what finally does it??? Today is a day that I just feel like I want to throw in the towel.
Probably won’t be burning much coal this winter.
Or earl.
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TN – What do you mean they don’t have Christmas? http://www.jackiechankids.com/files/Christmas_in_China.htm
Are you still short ???
A distinguished 27 point increase. Indeud.
Speaking of Brett Favre, VXX will suffer a 1 for 4 reverse split on next Tuesday, as it undergoes a “penny stock-like” transformation.
http://www.ipathetn.com/pdf/VXX_reverse_split_press_release.pdf
and GS said to buy puts on VXX with the impending QE2 announcement today … boy, they were right! Sold of just as the announcement was made … that’s my only loser, should have taken their advice or dumped my shares as the hedge has been a waste so far.
come on it’s obvious where this money is going – it’s yet another back door bailout to the banks. buying up their junk so they can return to ‘lending’ ..
Holy crap, is that a Saudi Prince or a 1970’s T.V. private eye working out of the back of his Chevy Nova?
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I prefer the background to be mules and camels. Why is he sitting in chair?
Because I think he’s given up the headsheet and gone all “Lee Horsely” on us!
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TMoe opened a short position on OPEN. Crazy valuation
What in the hell is wrong w. Maria Bartiromo? She looks like a bullfrog rising out of the swamp, with the plantmatter/hair hanging lank against her face.
Take a Xanax, Maria!
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She isn’t as ugly as Michelle Caboose Cabare-ass.
Yeah, watching her is like suffering through a skank convention, and all of a sudden financial news is breaking out everywhere.
It looks like zombie bit her, and turned her into a walking dead thingie.
To think I used to have a crush on her
So did Joey Ramone.
She needs another ride on the Citicorp jet.
Is that what you are calling it these days?
And I use to think calling mine “the Lion” was arrogant….
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I have a “dragon”.
Spits out fire……also needs to be drained after a couple of 6-packs.
I’m wary of a day-after Fed meeting reversal tomorrow…today seemed like no interest in buying, just holding up…if we get past tomorrow without any damage, I’ll feel better we could move higher into year-end.
After runs like these, I feel like the “thing” on the left hand side …
http://lh4.ggpht.com/_wkgIzuqJM0w/TKIwFxoSlHI/AAAAAAAAGco/BbSCkTfaWNg/s800/Bear%20trainer.jpg
That photo summarizes the last 3 months perfectly!
There was no indication of wave of “sideline money” entering the market at the open, due to election. We’ve been promised that wave for 2+ years.
So, question to anyone bullish up here
when the hell is this “retail sideline money” going to appear? we cant go to dow 15k with JPM and GS passing chipotle stock back and forth all day.
FEAR THE BEARD!!!!!
Who needs retail money? It’s Uncle Ben’s Liquidity and it needs to go somewhere. Pump up the bubble.
Check out SGG if you want some proof.
Candy bars are going to start going through the roof, just like I remember they did as a little kid in the seventies.
Meanwhile, back on Planet La La — Congress to Senior Citizens: NO COLA FOR YOU!!
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Water and potatoes are probably healthier anyways.
Retail money don’t matter in any market… they only matter to you as retail.
Big portion of retail money went to Gold and Silver in the past 2 years by the way.
Retail is waiting to get trampled on when Mr. Big gets out of TLT …
The Pres. should tell people to quit worrying about the economy, just go out and do some useful work. The economy would take care of itself. Stop the smoke and mirrors stuff with Uncle Ben’s printing press and government entitlements from deficit spending. Just quit your bitching and do something.
Bring on QE3!!!
It will come, they left the door open, I am not kidding.
No worries there… it will keep coming until dow 14K… Ben told me.
CAD and AUD should be at 1.30-1.40 US by than… than all Canadians and aAustralians will come and buy cheap US real estate.. and dont’ forget Japanese…. the final solution to RE prblem is here.
Tenn Titties pick up Randy Moss!
Somebody had to do it before he feel back to New England … Thanks TN!
Yes.
We are a Brett Favre Nation for sure.
I hear penis pictures being sent via electronic transmissions are all the rage these days.
Gold to $3,000 (more or less….adjusted for inflation, and other acts of trickery).
Canada shoots down BHP bid for POT …
Bravo Canada…
They should tell BHP to talk to Obama.. he might sell some POT…
it’s getting cheaper by the minute if you pay AUD 🙂
shoot it down because too low. everybody’s got a price. give it time…
The avoidance of taxes is the only intellectual pursuit that carries any reward.
– John Maynard Keynes