Before you start celebrating the end of the bull market, just know that the government has one more trick up its sleeve: FRIDAY’S JOBS REPORT.
Please recall that it was the May jobs report that got the Fed off the hook of hiking rates. After that report, markets ripped higher on the prospect of a very easy and accommodative policy. Ever since the economy has been showing signs of strength, the fucking assholes who control this market like muppets have been keeping stocks in a very tight range, as if to say ‘go ahead, fuck with me.’
It’s worth noting that the Fed has never hiked rates without the market already pricing it in. It’s not a conspiracy theory to say the Fed is entirely beholden to equity markets and has no power to control policy, without first gaining permission from the stock Gods.
Right now, the market is pricing in a 35% chance of a September hike. El Erian thinks that number is more like 60% and says it will spike to 80%, if in fact the Friday’s jobs report comes in strong.
In short, let’s all pray, in unison, that jobs were lost in the month of August, and that men and women were tossed out onto the scorching hot concrete by employers and told to ‘fuck off’, as their jobs were shipped off to Mexico to lower wage workers. If our prayers are answered, retroactively (extra EU), we will all enjoy splendour and hedonistic ascension in the stocked market.
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They say retirement is 62-65 but from what I’m seeing, it’s more like 52. You reach that age, you get mysteriously let go and pretty much retire.
I know several people who lost their jobs about 6-8 years ago and were in their mid to late 50’s and were never able to recover. Too old, too expensive for employers, etc.
They picked up a part time low wage job from time to time but always left after a few months (either voluntarily or not) but their main problem was health insurance and because the wife had decent jobs (schools and had tenure-continuing contract) they received no subsidies under 0-care and were paying around $600.00/mth on the BS bronze plan with huge co-pays and deductibles. It was even more expensive to be on the spouse’s plan at work (no freebies for spouse).
They got on their knees and were thankful when they hit 62 and started grabbing early SS and 2 are now on Medicare @ 65.
It is with great care, And unfaltering disdain, my ideations and inductions are being echoed in these halls. From a prescient time, Quite a long time from the subject’s pivot, in undeniable consensus.
Such patterns and notations were seen and called vehemently and briskly by I. You bet your candy ass.
extra EU… well played sir