I spoke too early when I said the bears were setting up to be executed. As you know by now, the devil’s advocate, S&P, downgraded Italy to A, outlook negative. I know the knee-jerk reaction is to ignore “suchness.” However, Italian 10yr bonds are already too high, at 5.58%. This is going to press the envelop on Spain too and soon after, France. The only way this gets kicked down the road is if the ECB levers up the EFSF and prints euros like a motherfucker to dilute the debt. Due to the political differences, this is not likely to happen.
Even though the patient has cancer and is going to die without medicine, the guardians are so embedded in their own way of thinking, it’s virtually impossible for them to agree on anything that will save the patient. Why?
Answer: politics.
I am now 45% cash and treasuries, due to my permanent floor of 30% cash and oversized TLT position. Although I will lose money tomorrow, I suspect the market will snap back after the Fed takes action. Nevertheless, the way this “crisis” is unfolding, one has to think it’s being done on purpose. Seriously, criminal masterminds could not plan this out better, if they were hell bent on destroying the western banking system. It’s as if our leaders were hired guns for Al Qaeda, purposefully dismantling America one brick at a time. I can guarantee you this: Obama’s holy war against the rich will fail and he will be a one term President. It is truly unbelievable how jaded this man is, with regards to “the rich.” Trust me, I hate talking politics and rarely feel this passionate about these sort of things. But, if this country is interested in getting the fuck out of this manufactured depression, we need to elect Romney, and fast.
Get the Baine in there and you will see this market roar.
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Romney for president …
but I would rather vote for Sir Fly …
The Ben Bernanke for president, el generalisimo, grand poobah, whatever title he wants to be called. Blank check time.
This hope cards end is coming to fruition. The market Is going to correct itself. Pathetic, incompetent government will NEVER fix this, Germany said it best, with a polite FUCK YOU..
they are as incompetent as the fucking St Louis Rams …
The banking system was/is being destroyed by the um…. bankers
“The only way this gets kicked down the road is if the ECB levers up the EFSF and prints euros like a motherfucker to dilute the debt. Due to the political differences, this is likely not going to happen.”
So…….what happens when it doesn’t get kicked down the road. Are we looking at Armageddon?
of course.
As Hugh so eloquently put it – “I would recommend you panic”
So does Bernanke save the day on Wednesday morning or Wednesday afternoon? Or is it actually on Thursday?
The calendar shows Wednesday 2:15 pm FOMC statement
( I’m sure somebody will clarify shortly)
Its a two day meeting starting tomorrow. I guess the Clam thinks that he can lock them all in the room like a “Time Share Sales Pitch” and try to force them to do something stupid…they won’t, the Core CPI doesn’t support it. A Press Conf follows the announcement, IMHO, its the “We will use the Tools when the need arises” stuff. Clam is wishy washy since that positive NFP posted a few months ago and Core CPI moves up.
BTW……I agree with your premise that it will not happen. Finland, Germany and Holland are not playing nice.
Romney should’ve run as a democrat. Republicans primary voters just won’t go for him
Mormon haters
“Obamacare haters.”
No “e” in “Bain” btw.
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…Which is unreal. Mitt’s the first republican candidate to not bring shame to the party. You couldn’t ask for a more intelligent, experienced man to run. Every guy I know in PE, and/or M&A, worships Mitt, and what he’s done with Bain. Bain bangs out 100-200% returns on individual investments like clockwork, in time periods < 2 years. Even my tailor is a huge fan of the Mitt (I use a tailor located directly across the street from Bain offices), and claims that he's just as genuine a guy to the man sticking pins in his suit that he appears to be while campaigning.
By the way, I campaigned for Obama… like a total moron.
He’s a very nice guy. Unfortunately, he tried to impose Obamacare in his state before Obama imposed it on the country.
Kind of tough self-defusing the single hottest point of rage in the 2012 election cycle.
I hope he gets the Veep nod, though, and then people will have forgotten about Obamacare by 2020 or so.
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Appreciate the mea culpa about the error of supporting Obama in 2008. However, that does not me more inclined to buy your endorsement of Romney. Personally, I’m waiting to see how things play out. Our ridiculous primary system is such a mess (same states go early each cycle???) that I really don’t have a say in the matter as the nominee is usually picked long before my state weighs in. Maybe go old school where nobody gets enough delegates and they have to fight it out at the convention.
I’d like to see that… Eddie Shore politics.
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Lets get online gamers together to solve the financial crisis
http://games.yahoo.com/blogs/plugged-in/online-gamers-crack-aids-enzyme-puzzle-161920724.html
Forget Mitt … I’d vote for the owl!
No word from Alf.
His Mom must have taken away his computer once she realized what he’s done to their 401k.
I’m worried.
Why play at all right now? Opportunities are made up easier than losses, no?
we started to enjoy pain !!!
The economic hit men use surgin-like precision to orchestrate the grande spectical.
*surgeon, shit. Aside, iBC looks fucking BOSS on an iPad.
No shit. iBC is a first tier organization.
* spectacle
I’ll buy your TLT from you if you want, Sir Fly.
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SHORTER … THAN VERNE TROYER !!!
.
…nuff said !!!
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.
🙂
.
Anyone think the Italian 10yr hits 7% ?
(I think Greece and Ireland hit approx 6.5 when they were asked to take loans)
Gold and silver to rally.
However now that I am on the PM train, the top is in.
(Krull and I are cousins)
Trade accordingly.
Relax with a tale of mitigating unmitigated greed.
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Holy shit, that was a bad post. Not up to your usual standards by any means.
@po – wtf’s wrong with it? @jake – read both stories based on po’s non-rec. enjoyed it!
Fuck off, it’s a guest’s piece. Mind your manners.
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You are going to pay, bitch. (shorter Obama) And as for Obama being a one term president..you are lying to yourself. I know from experience. How the fuck could anyone re-elect Bush? They did. Do yourself a favor and embrace it.
Herpes, that shit has gone to your brain.
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Did you read the fucking post? Mitt is going to save the day? Really? I have smoked some killer Peruvian flake in my day, but it pales to the shit I read in this post.
No, Mitt won’t be the candidate in 2012.
But my dog beats Obama without a bath from now til November ’12.
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yawn !!!
.
… for Christ’s sake, Gint …
… givitafuckinbreak !!!
.
Your Obama Derangement Syndrome has created a blind spot..shit happens to the best of us. In fact some smart folks at a socialist institution (university) have made a little video about it. http://viscog.beckman.illinois.edu/grafs/demos/15.html
To keep it real, I always run my shit against this list before posting. http://en.wikipedia.org/wiki/List_of_cognitive_biases
Nice list.
Dunning-Kruger syndrome: the cognitive pandemic of our day.
that list is amazing!
You’re underestimating the vote from those that put him in the WH in the first place … they only come out for the 4 year cycle and won’t forget who got Bin Laden. They see through the GOP double speak and will re-up their guy again. Stop wasting everyone’s time here … If you’re that “coMitted” then campaign in your own neighborhood but stop posting bills here at IBC … Jeesh, Alf is right …. enough already!
Remember.. my dog… sans flea bathes… after rolling in the road-squirrel remains.
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Methinks you ladies doth protest too much.
Did you hear me complaining whilst you were shitting on Bush for the entirety of this site’s life?
Man up and eat your shit cakes.
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No one is interested in anyone else’s views on politics. Politics is about perceived self-interest. Is anyone interested in taking up the banner of someone else’s self-interest? Of course not.
Of course politics isn’t really in anyone else’s real self-interest except the politicians and the lobbyists. So the rest of us are just responding to false words that just sound pretty or ugly to us. “A tale of sound and fury signifying nothing.”
your all mistaken,he flat out plays his “color”,thats his strategy for the black diaspora.the other percentile that votes for him are believer’s of a delusion.
Hey Dpeezy, stfu with your wuss-self.
Lol
Bernanke has passed TWICE now. The last two times saying, either monetary policy can only do so much, or we have tricks but can’t tell you now. Jackson Hole was supposed to be the big saving. Why would this week be any different
Yep, Totally agree.
Yup Doc
It’s called being out of bullets.
Adding more debt to solve a debt problem is moronic.
In fact, it’s borderline insanity.
Geithner was told to go pound sand by the Europeans when he floated this idea because it’s crazy.
A collapse/reset is ineveitable folks. It’s time for bondholder haircuts and massice pain.
Your a fool if you think it won’t happen.
What is the twist going to spur economic activity when the 30yr is already almost touching 3? Not
this is the simplest market ever over a long or intermediate term basis, and the hardest over any short time frame.
when do you by and then go on a nice long trip, planning confidently to come back richer than you left?
when europe sets interest rates for troubled countries. people are so damn stupid. the market for italian and greek bonds is no more necessary or relevant, today, in this crisis, than me wearing polka dotted underpants as I type this. the ECB could announce rates and I promise the market would follow, its alot simpler than eurobonds.
AND when the US announces a meaningful fiscal stimulus, HOPEFULLY, an infrastructure one. While over the long term the generally insane tea partying gold loving austrian worshipping ryan believing crowd are right htat we’d all be better off with less gov’t intervention, what we need is jobs. And tax breaks won’t cause hiring, ONLY DEMAND WILL, PERIOD, PERIOD, PERIOD. Best way to create demand is to invigorate the dormant construction industry, and such.
If we get really lucky, if there really was a PPT, if there really were men behind the scenes pulling the strings, if there really was some grand conspiracy…
they’d spend $4T on infrastructure off the books. just don’t issue bonds, just don’t tell people the “deficit” went up, then they wouldn’t panic about it, and the plain and simple truth is that right here, right now, with massive slack capacity, with a debt deflation macro backdrop, deficits don’t matter.
Buy when governments take action that actually matters, as long as people remain wildly ignorant about economics, and wildly petty and retarded overseas, its a traders market.
The best thing that ever happened to europe was when we decided to rebuild them after WW2. Once left to their own designs, they promptly began self destructing, they are just so bad at even that, that it took them a long time.
I’m all short. Tomorrow I wanna see this market tank like a mofo… Let’s do this!
Shizzle “My EBT” bitchez! This shizzle is off the hizzle!! Obama 2012!!
http://www.youtube.com/watch?v=o64Fz-KW1Dk
Italy should get an EBT!
Romney can NOT defeat Obama and is a ‘flip flopper’, he’s not genuine. Perry is the best. Perry 2012!
True Dat!!! Bitchez need to reckognize!!! I just swipe my EBT!!!! Haa Haaa!! Shiiit..
Romney gets Rick Perry’d. Perry becomes GOP nominee, then what are you going to do ?
See “Al Davis, famous phrases”
Repeat.
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ROFL, I actually was right about my Black Monday Call…wrong market though, http://www.shanghaidaily.com/article/?id=482942&type=Business
fuck china
All I’ll say is one thing. Respect the fucking PPT. Don’t even try and think about this fucking market.
This is the most annoying chop market we’ve ever dealt with. At this rate, I’ll blow up my accounts by next week. Fuck this chop.
Pick a fucking direction.
The Fly is God.
No Zombie, you’re wrong. The Fly is no longer God.
The PPT is God.
You were told this a few days ago and for some reason refuse to listen.
“But, if this country is interested in getting the fuck out of this manufactured depression, we need to elect Romney, and fast.”
The hope that one person can “fix” things is, imho, misplaced.
No one who can get elected can fix this.
It’s time to admit that the system is broken.
WPRT, smokin today, yesterday and..
That’s BTFO!
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Although I will lose money tomorrow, I suspect the market will snap back after the Fed takes action
Bipolar disorder is a lifelong condition that can affect both how you feel and how you act. It is a mood disorder thought to be caused by chemical imbalances in the brain that can result in extreme swings in mood—from manic highs to depressive lows
Obama is a serial liar. http://www.attackwatch.net To know him is to despise him.
“To know him is to despise him”
And we have a winner.
What garbage…… you’re kidding, right?
you dont know these people,i wouldnt click on that site if you paid me! this whole administration DO NOT PLAY BY ANY RULES DEEMED FAIR BY THE STANDARDS THAT WE GREW UP WITH. just sayin
SURGEON GENERALS WARNING: Ideology May Cause Blindness
Warning:
I Wanna warn you fuckers now!!!!
Euro/Swiss strengthened 100 point in the past hour. I don’t quite know why, however pleasant shit must be going on in Europe for that cross rare to take off like that. That’s a fucking huge risk on indicator.
I don’t want to get into any debate that Europe is doomed and shit as that isn’t what i’m warning about.
Shit is going on there on the positive side by the move of this cross.
The Rumor is the Swiss are thinking of re-peggging the cross at 1.25.
If those swiss dwarfs are thinking of this they must shit about the euro.
“Know shit?”
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