Look at what’s happening to the commodity markets, the debt underlying these companies, trading 50 cents on the dollar. Look at JNK, HYG. I am telling you to look at it because it’s been YOU the whole time accepting of the notion that we could and we should hike rates. In other words, you are complicit in your own destruuction by encouraging the people who don’t know a damned thing about stocks to destroy us with tightening the monetary base, when we could least afford it.
Icahn weighs in
“The high-yield market is just a keg of dynamite that sooner or later will blow up.”
He’s right, 100%. I didn’t want to believe it myself. But look at the 265 billion dollars in distressed oil/gas debt. Look at CHK. Do you think it’s funny? There is a ripple affect, you know. Oil and gas towns will become depressed and the people living in them DISHEVELED.
We wanted to ‘normalize’ rates because we wanted stocks to trade significantly lower, said every single short seller in the United States.
Enjoy your bear market.
If you enjoy the content at iBankCoin, please follow us on Twitter
Until you start buying tza a la the good ol days this ain’t a bear market, Fly.
I just hope these broke oiler refugees don’t start migrating to Detroit. We need to close our border and keep oil folk out! #PureMichigan
Or to keep us in! #PureMichissippi
Not to worry, yellen won’t raise rates. She’s stuck between a rock and a hard place now and there’s absolutely nothing she can so to kick the can down the road. She’ll just need to sit on her hands and cry.
Guess who’s making money today
(flaps suspenders)
You know it’s a fucked up market when GPRO is the one that rallies.
Great series of posts fly.Also
Icann is a cocksucker.
Do we need to be invested in SJB?
Hey.. No one forced CHK to borrow $11.6 BILLION.
“Disheveled”? I guess it is pretty awful to be disheveled. Truly.