iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,474 Blog Posts

THERE’S ALWAYS A BAD REASON TO PANIC

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way–in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.

 

-Master of the English language, Charles Dickens

There isn’t anyone who has ever written a passage as succinct and haunting as the opening paragraph in A Tale of Two Cities, by Dickens. The first time I read those words, I was hooked. In many ways, it describes the plight of mankind, at least since the invention of fire and the wheel.  There will always be injustices thrusted upon the lower wrung of society and there will always be excesses enjoyed by those in a position to enjoy them. Somewhere in the middle we fight for position, trying to outmanoeuvre one another for the spoils of capitalism. To that end, many of us (speaking in general terms here, nothing personal you insolent knave) cheat and steal to further our position, regular mountebanks living in the shadows of treachery.

Here is my point: how is it that we were stricken by panic, sheer unadulterated panic, when rates were going higher? Now that they’re going lower, these same blackguards are trying to instill fear into the hearts of all of you in the middle, who rarely refuse an opportunity to step on each other’s faces in order to get a leg up on the competition. This is intellectually insulting and you should try to ignore what the hucksters in the bond markets are doing, for they are always led astray–easily tricked like red meat tossed at a dog…by a burglar.

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35 comments

  1. the unbeliever
    the unbeliever

    Fly- Since bannings are back, how come Zombie has never been banned? All he ever posts is “FIG”. Is it only because he’s a PPT member?

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  2. uglyflint

    Where is Alf ?

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    • alf44

      .

      … been out of pocket the last few days with the death (last Thursday) of my wife’s Mother.

      Funeral arrangements … meetings with attorneys … Relatives …

      Fun stuff !!!

      .

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  3. Bullish

    Funny, you get all philosophical, quoting classic literature and not a peep from anyone, but when you lose money terribly, the comment section gets littered with wild animals speaking of masturbation and feces.

    This should tell you something about the audience you are attracting.

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  4. zombie

    The Fly is God.

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  5. bood

    if this was a top formation today we would have had a disaster . so this is not a top . go ahead and trade .

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    • bood

      the only thing it seems ( TO ME ) we’ve stepped in is some old top digestion.

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  6. Bullish

    Dark red to green days are best. Nice shakeout of all the Tom Demark followers.

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  7. budh

    A program of self improvement does not require beating the competition, whoever that is.

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    • bood

      interesting , how can you improve ( on what? too general as assesment ) if you do not beat a competition , i.e. yourself

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      • budh

        The competition is not myself.

        There are all kinds of self improvement. In athletics we try to improve strength, speed, conditioning, skills. In academics we try to learn more. Other skills like music can be a means of personal improvement. In life, I feel, one must continue self improvement and there are many avenues to do that. Failing to strive in some area of personal improvement is a route to failure, in my opinion.

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        • bood

          if you are not good ( @ something ) may be better to learn&practice , then compete , then when you understand well rules and yourself usually you become your best competitor . that’s simple and is how it works , in many fileds and applications

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  8. samjan

    ok, for your watchlist. Cause I’m feeling magnanimous, too.
    ATK Alliant Techsystems Inc
    Shareholder Equity 1157, 1227, 1502
    FCF 177
    Fwd P/E 13.1
    P/B 2.8
    P/S 1.1
    P/CF 13.0
    I’m long common.

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  9. bradysbarr

    Fly – Can you describe your IFON thesis again? I’m curious about this stock…

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  10. tradingnymph

    Ahhh, didn’t Tale of Two Cities end with the poor masses uprising and cut the heads off the rich? For this market, IMHO it has been always a China Story. With that default in March/April, no one is going to be falling all over themselves to loan out to their Shadow Banking System. We are popping, finally, it is just taking time because Hedge Fund Managers are too busy buying up Multi Million Dollar Homes.

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    • bood

      lady,,,,drop the ball please..it’s been years you wrtie we were we are we will be about to pop … no pop around.. grab some pop corn and prepare for more of the same

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      • tradingnymph

        In 2009 I saw a bubble forming when China was importing more Copper then what it needed for true demand. I choose to study it because very few people have watched a bubble form in real time. Normally, People see bubbles when they are huge or not at all…this FIVE year study has been mine and like all bubbles, it will pop…very interesting anatomy of it..I have learned a lot.

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        • curious

          like how to look like a dumbass on a blog comments section

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        • bood

          sorry to remember you,,, this pop should have happened,., to your forecast.. and happaned again .. and again.. and then again.. multiple time,.. but never did eventually..
          so this time , it is the right one milady?
          just to register one more time your studies results and forecasts..

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  11. curious

    wow no one comments anymore, going to go check out some other sites I guess 🙁

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  12. moneybagz

    This is the passage that did it for me, probably the reason why I am a Perma bull life’s too short not to believe in the green light

    “Gatsby believed in the green light, the orgasticfuture that year by year recedes before us. It eluded us then, but that’s no matter—tomorrow we will run faster, stretch out our arms farther. . . . And one fine morning——
    So we beat on, boats against the current, borne back ceaselessly into the past.”

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  13. moneybagz

    This is the passage that did it for me, probably the reason why I am a Perma bull life’s too short not to believe in the green light

    “Gatsby believed in the green light, the orgasticfuture that year by year recedes before us. It eluded us then, but that’s no matter—tomorrow we will run faster, stretch out our arms farther. . . . And one fine morning——
    So we beat on, boats against the current, borne back ceaselessly into the past.”

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