It’s rather befitting to see the market appreciably lower on this fine day, the 8th birthday of iBankCoin.
Stocks smashed lower because the Federal Reserve is hell bent on destroying the capital structure of CHK, which fell by another 3% for the day. I invite all of you to join the ranks of Exodus to get an edge in this sordid affair.
My largest position, COST, faired well. Nothing is able to stop the Costco juggernaught. I do not pretend to have massive upside in it. I am merely content with not fucking destroying myself in it.
Nothing is working. Everything is shit. The world is a wretched placed, filled with goons and goblins. War, pestilence and famine are right around the corner.
Now if the market trades up tomorrow, my animal spirits might cause me to get real bullish again. But, just know, right now I am seeing things clearly and truly for what they are. The scenario that I am going to paint for you is likely to play out, once the Fed begins raising rates.
We will parallel the great fuckery of 2007, when the Fed purposely induced a housing slowdown, which caused the crisis we all know as “The Great Recession.” The amount of oil and gas debt is in the hundreds of billions. Since 2009, Wall Street has been sucking the dicks of big oil, shilling for them, issuing fuckloads of products, financing oil fields in Bumfuck, USA.
All of the chickens are coming home to roost, rest assured.
Credit is going to seize up and the dollar is going to the your albatross, gaining by leaps and bounds, pushing crude to the point of desperation. Bankruptcies, largess, will press stocks lower to levels not seen since 2011.
Forget about 2016. We might mark time here until year end. But if the Fed gets there way, we dive lower by 30% in 2016, led by catastrophic declines in most commodity related stocks.
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FIG
Has turkey rally ever not happened?
Had to liquidate HART in october market retrace. Bought back start of this week. Showtime is on a roll
I’d be surprised if 2016 ends up that bad considering it is an election year.
Are you nuts. The last 2term guy started with lehman.
end of 2nd term is precisely when it can get bad
Didn’t get to post it on the birthday post, and now it’s too far down the timeline to matter, but happy 8th Fly!!
Although I take exception with this statement “We’ve never, ever, had better content and talent than we have now. I really mean that”. JAKEGINT, The Senator. Say what you will about the Jacksonians, but his mordant wit is untouchable. Everyone else, however, can be assuredly dispatched to the “butter in coffee” garbage bin.
Anyway, good shit, and I’m enjoying your new joie de vivre with the fin/news/reporting angle. Here’s to the next 8
Long time Danny, you still skateboarding around San Diego?
You too Juice.
Definitely still skating — though lower impact stuff now, can’t be flying down 10 stairs on the reg any longer. It’s empowering to walk into a room full of people and know with absolute certainty I have the best kickflip in the room haha
Le Fly,
Whatever you do, just don’t bring back that douche bag named John Lee.
I done told you that the sun revolves around my trades. Revolves right to my 6 and rapes me, anyway…
Fly, if this is your view, why aren’t you raising cash big time?
What I want to know is, does the Fed bring in someone to read the tea leaves or do they already have someone on staff?