Gundlach is like the 3x inverse Rick Santelli, giving mad shade to Grandma Yellen’s naive Fed. The clam-fuckers at the Fed are either the stupidest motherfuckers to have ever walked the planet. Or (and this is my working theory), they are purposely trying to bankrupt CHK.
“I have a hard time believing a Fed tightening will help the economy,” Gundlach, whose Los Angeles-based company manages about $80 billion, said Monday on a conference call with investors. “I think volatility will increase and the economy will weaken.”
Do any of you people actually believe Fed tightening will help the economy? Being honest with yourselves, you know damned well it’s going to expedite liquidations in the 100 billion plus distressed oil and gas debt and ruin so many people who invest in stocks; this shit is going to get comical–like 2008 funny.
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I really don’t think it’s a big deal. I’m more focused on the rate/frequency of tightening. And for what it’s worth, a lot of high yield debt in energy space already trading below par so attractive rates already unachievable and floating rate debt tends to have 1% LIBOR floors, so there should be no impact there. New issue high yield (and high grade for that matter) has definitely widened, both including and excluding energy, a noticeable amount in the past few weeks.
If it’s not a big deal. Why are they making such a big deal about it.
think about it…
Rents are at all time highs and boomers are “retiring” dead broke by the thousands a day. The states can not pay the lottery and pensions are next. Obviously none of that matters. Fucked either way?