Meaningless Analyst from UBS Warns of Impending Correction

Julian Emanuel means absolutely nothing to me. His words are like a pebble bouncing off a hardened mountain — whose exterior is the result of thousands of years of glacial movements and volcanic eruptions — primordial ongoings if I might be so bold.

He’s obviously without cocaine and needlessly pedantic with his obsequious attacks upon the markets. If I was an analyst at UBS, getting paid for being wrong, I’d do so in non-gay flamboyantly absurd fashion. If bearish, I’d costume myself to look and appear to be ghoulish — vampire-like clad with a ghostly pallor — draped in a black-black cape and bespoke leather gloves. I’d declare the market to be dead, whilst glaring with dead eyes into the lens of the camera, into a transfixed audience whose only whim or idle thought in the back of their subconscious was ‘who the fuck is this man and why is he here to damage me?’

My price target for the S&P would be zero, not a penny more. I’d paint a very vivid picture of nuclear submarines refueling off the coast of Minsk (obviously a landlocked city to those not of the idiot genre) en route directly to Washington DC — where the Russian fleet would declare its intentions to obliterate the White House from the map — all with one fell swoop — tactical nuclear detonations reverberating around the nation like they were jumping jacks on the 4th of July.

I’d declare ‘the bust of Martin Luther King would be removed from the White House, permanently, as well as all living forms of life withing a 100-mile radius of Mike Pence’s study.’

Instead, we get Mr. Emanuel, a man with the likeness of a person I once lent money and never received any repayment or form of retribution. He’s calling for a flaccid and entirely uneventful 5-10%, boring, garden variety, pullback, at which point he declared would represent a magnanimous buying opportunity.

To hell with that advice.

Be long and strong gents. The winds are decidedly westerly and there’s nothing that can ever stop the markets from obtaining peak velocity, showering all participants with gratuitous amounts of superfluous and capricious amounts of gains — to be spent on illegal narcotics and vast quantities of rare spirits and wines to be absorbed by the protein of known to be near extinct and very expensive animals.

We will eat all of the panda bears — and there’s nothing you or any of your stupid friends can do about it.

Observe. Idiocy.

Cramer has finally given up on the retail landscape, following $EL warning that their department business was woefully impaired. Then he dove into idle speculation about $M being an acquisition target for its real estate holdings. Hmm, where have I heard this thesis laid bare before? Perhaps over at olde K-mart?

Trump’s border tax is bound to wreak a new and fresh havoc on retail too, Cramer decried — since most of them import their crap from overseas.

The core issue with these retailers is they overbuilt. Think about it. In every strip mall, in every small town in America, lies a slew of stores. Each town has a shopping mall, brimming with desperate retailers desperate for your dollars. With the advent of Amazon, coupled with a younger generation of people who are happy owning a few bedraggled t-shirts to comprise their wardrobe, the retailers have fallen victim to the oldest and most cardinal sin of oversupplying a market that isn’t growing all that much.

Courtesy of Exodus, here are the biggest losers in retail over the past year.

Some believe at least a third of US based malls will close, eventually.

“On an apples-to-apples basis, we have twice as much per-capita retail space as any other place in the world,” Kniffen said. “So, yes, we are the most over-stored place in the world.”

The U.S. has an estimated 48 square feet of retail space per citizen—a footprint that’s set to decline “pretty fast,” Kniffen said.

In time, this oversupplied market will recede — casting out the weaker companies — paving the way for a much healthier landscape. But first, there needs to be a culling, a tightening of credit, otherwise the retail industry will continue to plod along in a most heinous manner.

Starting today, Facebook, in conjunction with Google, will be blocking unsavory news from their platforms in France — thanks to the very generous and progressive assistance of 8 liberal news agencies — including the far left Le Monde. Having learned his lesson during the US elections, CEO Mark Zuckerberg wants to ensure the people of France only get to see the right news and information — generously shielding them from fake news and right wing disinformation campaigns — like global warming is a hoax.

Effective immediately, users will get to mark news articles they deem to be fake. Partners will pass judgment upon them and also get to tag them with an icon — all for the benefit of the 24 million idiot users in France who are, seemingly, unable to decipher the news themselves.

GENEROSITY WITHOUT BOUNDARIES.

Similar projects are being launched in Germany and the United States — fettering out hoaxes and fake news — with the help of ultra left wing Snopes, ABC News and Associated Press.

It’s ‘their’ platform and can do with it as they like. If you do not like it, don’t use the platform.

What’s with these people? When will they learn they can’t win?

Bercow is known in Britain as a ‘former right winger’ who finally found his soul and transformed into a social liberal — becoming part of the system of globalist authoritarian progressives — who also opposed BREXIT. In other words, he sold his soul to the devil, becoming a cuckold in the process.

He’s also on record saying migrants are ‘better workers’ than his own people.

Now he’s vying to ban Donald Trump from addressing parliament during his trip to the UK next month — on the premise of being a filthy racist, sexist bastard of a man.

This all stems from Trump’s decision to temporarily ban immigration from 7 muslim countries, until his administration is able to formulate a more effective way of vetting people coming into the country — something his predecessor failed to do. Because of this, Leader Bercow accused Trump of being both a racist and a sexist and doesn’t want to give him the ‘privilege’ of addressing the British parliament.

“Before the imposition of the migrant ban I would myself have been strongly opposed to an address by President Trump in Westminster Hall; after the imposition of the migrant ban by President Trump I’m even more strongly opposed,” Bercow told lawmakers. “I feel very strongly our opposition to racism and to sexism and our support for equality before the law and an independent judiciary are hugely important considerations in the House of Commons.”

“An address by a foreign leader to both houses of Parliament is not an automatic right, it is an earned honor,” Bercow said. “There are many precedents for state visits to take place to our country that do not include an address to both houses of Parliament.”

Bercow’s announcement was greeted with cheers and — rare in the House of Commons — applause from the opposition benches. A motion arguing that Trump shouldn’t be invited to speak has been signed by 163 out of Parliament’s 650 members.

Bercow made clear he wasn’t going to comment on the merits of inviting Trump to the U.K., something that will be getting its own debate in Parliament on Feb. 20. “We value our relationship with the U.S.” he said. “If a state visit takes place, that is way beyond and above the pay grade of the Speaker.”

They’re all so sensitive. Trump keeps winning.

Truth be told, the market deserves to be thrashed to pieces. I’d love nothing more than to see it drop by 10,000 Dow points in a single session. The amount of money I’d lose would be catastrophic and ruinous, but it’d be worth it just to see the looks on people’s faces.

We’re all accustomed to being coddled by our central bank overlords and for good reason. They’re completely rigging the markets. Now when you read me saying that, some of you might scoff and dismiss it as Fly banter, but it’s true. It is a certifiable fact that central banks are manipulating equity prices higher and have done so since 2009.

Mario Draghi just said the ECB would step back into the fray with more EUROBUCKS, if needed. The ECB QE project is set to drop from 80b per mo to only 60b in March. But guess what?

The French elections are on 4/23 and the ECB might be completely fucked by then. Le Pen is going to guillotine so many people when she wins, the blood will flow freely through the streets of Paris — all the way to Algiers. Bulls have approximately 2.5 months of unfettered freedom, before the French elections become a topic to be feared.

Remember, I was bearish last year for negative rates and the deflationary spiral it represented. Rates have risen sharply, hitherto. There’s a remote possibility that German bunds might start rising again, ahead of the elections. But my money is on more rigging, more perversion, less worry.

In this era of hedonism, there’s very little for a bear to do, other than lose large sums of money.

The robots are still in control. Ergo, stocks will trade higher.

Can you smell that rancid odor? It’s the end of globalism. France’s Fillon will attempt to save his political career today, scheduling a press conference to discuss the fact that his wife and two children made over $967k in public funds for doing nothing, all the while Le Pen crushes all in recent polling.

The stark realities of Le Pen being a distinct possibility for France has the bond markets in Europe freaking out — sending French-German spreads to the widest since 2013.

The subsequent result of France electing a person whose campaign pledge was to blow out of the EU and NATO is causing a disruption in the matrix. The FTSE MIB is feeling the brunt of the sell off, down by 1.65%. Overall, the Eurostoxx 50 is down in the magnitude of 1%.

More interestingly, German bunds are sinking in yield, while the periphery nations are rising. This divergence, although small, is notable and will upset the apple cart — should it continue.

Bund Spreads

France 72bps
Ireland 81bps
Italy 197bps
Portugal 382bps
Spain 137bps

The lowest bond yields in Europe belong to the Swiss. They plunging this morning.

Happy Monday.

This has to be the most butthurt genre of people in history — politicizing everything and losing badly too, almost on a continuous. The left went apoplectic last night after the New England Patriots rallied from behind and defeated the Atlanta Falcons, under the auspices of the best quarterback to ever live, who also happens to be one of Trump’s biggest supporters.

Life in America has been nothing but anguish and unimaginable misery since Trump defeated Clinton. Their inability to cope, coupled with their lack of forbearance, have led them down a path of seemingly unending public humiliation.

In the event you’re not tired of seeing snowflakes melt, I’ve gone through the trouble of procuring some of the better public meltdowns on Twitter last night, as the Trump train rallied and ran through the coxcombs rooting for the Falcons, due to political beliefs.

That was the best super bowl comeback I’ve ever seen. Once that Edelman catch was completed, you knew something was happening.

The signs were everywhere. You just had to look.

Somehow the game became political, starting with a sundry of leftarded commercials, from the Audi feminism trash to the Airbnb social justards to the inappropriate Verizon commercial and finally to Lady Gaga’s satanic ritual disguised as a half time show.

Our hopes for a political Lady Gaga #SuperBowl statement be like pic.twitter.com/1BYsMSM6q0

— Fusion (@Fusion) February 6, 2017

Some were making it a racial thing, with the historically whiter NFL team playing the Falcons, home of the most prominent black city, during black history month. Utterly absurd and racist. Think about if the shoe was on the other foot. I’m sure you social justards would be rioting now.

THE FALCONS CANNOT LOSE TO THE PATRIOTS DURING BLACK HISTORY MONTH IN THE TRUMP ERA.

— Charlamagne Tha God (@cthagod) February 6, 2017

In what could only be described as amazing, Trump’s biggest high profile athlete supporter, Tom Brady, gave it everything he had in the 2nd half and absolutely annihilated the Falcons — reducing them to matadors.

Indeed.

The GOAT #SB51 #Patriots #PatriotsNation #TomBrady pic.twitter.com/tN96YDV8yU

— ?? jess (@jNikkiii) February 6, 2017

What an amazing comeback and win by the Patriots. Tom Brady, Bob Kraft and Coach B are total winners. Wow!

— Donald J. Trump (@realDonaldTrump) February 6, 2017

The 9th circuit court of appeals rejected Trump’s attempt to reimplement the immigration ban. The judge who made the ruling has been in the news before, by essentially, making a pro BLM statement in another ruling this past summer.

Federal Judge James Robart Appointed by GEORGE BUSH Halts Trump Immigration Ban; HE’S A BLACK LIVES MATTER SUPPORTER! #Immigrationban #BLM pic.twitter.com/w09zlMk8BF

— TRUMP ANOMALY® (@ANOMALY1) February 4, 2017

Does it really mean something? Only if you’re naive enough to believe judges are super human people without bias. Yes, there are plenty of ideologues in the country, with two very distinct schools of thought.

Trump threw down the gauntlet on Judge Robart with this tweet, effectively making him public enemy number one in the event of a domestic terror attack.

Just cannot believe a judge would put our country in such peril. If something happens blame him and court system. People pouring in. Bad!

— Donald J. Trump (@realDonaldTrump) February 5, 2017

Naturally, we all await the authoritarian right wing goon squads. In the meantime, the non based courts let us down.

The 9th circuit court of appears has declined the government’s appeal to Judge Robert’s ruling on the migration ban. As such, both Syrians and Iraqis are now permitted to flow freely into America’s poorest neighborhoods, far away from the good hearted liberals who covet them so dearly.

Source: CNN

A federal appeals court early Sunday morning denied the US government’s emergency request to resume President Donald Trump’s travel ban.

The Ninth Circuit Court of Appeals has asked for both sides to file legal briefs before the court makes its final decision after a federal judge halted the program on Friday.

What this means is that the ruling by US District Court Judge James Robart suspending the ban will remain in place — for now.

The US Justice Department filed an appeal just after midnight Sunday, asking to pause a sweeping decision from the judge that temporarily halted enforcement of several key provisions of President Trump’s executive order.

The controversial order banned foreign nationals from seven Muslim-majority countries from entering the US for 90 days, suspended all refugee entry to the US for 120 days and indefinitely suspended entry for Syrian refugees.

The strongly-worded filing by the Department of Justice argued that blocking the travel ban “harms the public” and “second-guesses the President’s national security judgment.”
The government’s emergency motion lodged a multi-pronged attack on Robart’s decision, emphasizing the President’s broad authority in the immigration context.

“(Robart’s ruling) contravenes the considered judgment of Congress that the President should have the unreviewable authority to suspend the admission of any class of aliens,” the Justice Department wrote in its filing.

DOJ further argued that the parties who filed the lawsuit — the attorneys general of Washington state and Minnesota — lack the ability to sue in federal court because their alleged harms are too “speculative.”