White House Lays Down Banhammer on NY Times, CNN, Buzzfeed and Others

Finally, fascism! I’ve been waiting to enjoy some of the ancillary benefits of the so called fascism that the left have been screaming about. Thus far, I’ve seen zero, and I mean zero, right wing kill squads. And I’ve seen the press do nothing but lie and pervert the truth.

God willing, this is all about to change now.

Earlier this morning, the following fake news agencies were banned from the press conference.

BREAKING: White House blocks CNN, New York Times, Los Angeles Times, Politico, and BuzzFeed from press briefing

— BNO News (@BNONews) February 24, 2017

The leftards at Time and the AP, in solidarity with their afflicted comrades, opted to boycott the presser too.

Later on Trump discussed FAKE NEWS and how horrible they are, doing a disservice to the American people. SAD!

Trump slams the press at #CPAC: "They say that we can't criticize their dishonest coverage because of the First Amendment." pic.twitter.com/NFhcrq47g9

— Washington Examiner (@dcexaminer) February 24, 2017

No sign of the right wing goon squads just yet.

I was actually in a $JCP the other day, perusing around. It was absolutely dreadful. I don’t know how these stores stay open.

The company released earnings this morning and announced they were going to close 14% of their stores, or about 140 and do so immediately. They’re retiring 6,000 workers and will save $225m in cost savings.

Recently, Macy’s announced similar plans, store closures, as well as Sears and Kohls. Which begs the question: what will the shopping mall look like in ten years?

Anyone ever notice how much square footage these mega stores take up? How on earth can these mall operators stay in business when the mega stores go?

I suppose it’s like investing half of your portfolio in one stock. If that stock was Amazon, you’d be considered a genius. But for the mall operators, the REITs like $SPG, $GGP, $CBL, $PEI and $WCG, their investments were literally $M, $SHLD and $JCP.

Thus far, analysts don’t think it’s an issue.

Source: Morgan Stanley

Of the 269 malls owned by REITs with Sears, 79% have < $500 sales/square foot (ssf)… Our analysis shows significant overlap between Macy’s and Sears with 45% of REIT malls having both as a tenant. We do not envision a material impact to earnings, and some REITs could also be opportunistic, but it could lead to continued pressure on multiples as SS-NOI (same-store net operating income) decelerates.

Sounds a bit delusional to me. The trend isn’t grim for just the big box stores, but just about every single store in these malls — restaurants included.

I remember like it was yesterday, pre financial crisis, when retail was the darling of Wall Street — the single most important place to invest.

Now it’s in ruins.

I’m almost without words after reading Trump’s latest tweets. Like him or not, the leaks to the media have to stop. It’s both a national disgrace and risk. The NY Times should not be receiving sensitive information as soon as it leaves Trump’s desk.

But I guess we live in a country that glorifies snitches.

Trump calls them out. This is going to make a lot of people pissed off at the FBI.

The FBI is totally unable to stop the national security "leakers" that have permeated our government for a long time. They can't even……

— Donald J. Trump (@realDonaldTrump) February 24, 2017

find the leakers within the FBI itself. Classified information is being given to media that could have a devastating effect on U.S. FIND NOW

— Donald J. Trump (@realDonaldTrump) February 24, 2017

I think we have a situation like we’ve never seen before. The ‘permanent establishment’ in the FBI and CIA are both actively working to undermine the President. How is that not treason?

It looks like the rally has ended, at least for a while. Bonds are back in vogue, with the German 2yr at record lows — approaching -1%. Gold is, once again, a safe haven. It’s up 0.5% in the pre market.

Over in Europe, stocks are being bludgeoned, led lower by actual Nazis — off by 1.75%.

The sell off is broad based, maybe hitting the banks a little more than commodities.

Crude is off by 0.8%; but base metals are higher.

US futures are down around 90 for the Dow and 25 for the Nasdaq.

Happy Friday.

So why does ‘the party of science’, the enlightened ones, the people with thousands of scientists from accredited colleges throughout the country who tell us about dangers of global warming, carbon emissions, and how many vegetables to eat on a daily basis — cling to the inane subject of ‘gender identity’? You’d think that these men of letters would eschew rudimentary ‘feelings’ and only accept the biology of one’s gender when determining which bathroom he/she could use. But this isn’t about science, in spite of what they tell you.

Thousands of years ago, when the Romans would conquer territories that were hostile, they’d enter villages and take the men as slaves and order the women to raise her children loyal to the Roman standard. To make an example, often times they’d kill one of her children, so she knew they meant business. After a generation of destroying families, these territories were docile and soft — loyal to the Roman power structure.

Today we have a corrupt establishment on its last legs, fighting desperately to keep its citizens in line. After decades of permitting drugs to ravage through minority communities, passing harsh drug laws designed to break up and destroy the black family structure, the nuclear black family is on its last legs. In 1965, just before the onset of the drug epidemic, 76.4% of black children were born into married households. Today, 77% of first black births are born into pre-marital households.

So what the fuck happened?

The men were carted off to jail, while the women were left tending to her children, as wards of the state.

Sound familiar?

Now the target is everyone else. While oxycontin and meth have done a number on white neighborhoods throughout the country, it wasn’t working fast enough to truly break the family structure — especially in well-heeled families.

Enter the gender identity crisis. What better way to disrupt the family structure and create a generation of mentally challenged morons than to have them question the very essence of life and purpose: identity and procreation? Schools are pushing this hard on children, creating safe zones and sexualizing institutions that were never designed to do that. In other words, the state is attempting to take control of your children’s’ minds by blurring the lines of gender, confusing them and galvanizing a generation of potential social justice warriors who will fight the good fight for ‘human rights’, aka become WARDS OF THE STATE.

Rant over.

Here is Tucker Carlson, proving, once and for all, the DNC is run by complete morons, unable to answer a simple question: what makes a person a man?

The correct answer should’ve been, ‘your balls.’

Many of you know my signature all for 2017 was $UEC, with a side order of $URG.

Since peaking about a week ago, the uranium sector has sold off — providing an entry points for late comers who didn’t believe the hype when I was buying it 60% lower.

Today, our beloved President reaffirmed his affinity for nukes, saying that we should dominate the industry of world ending weaponary — casting aside the borscht eaters in Moscow and the dog chop lovers in Beijing.

On Jupiter’s stone, Exodus is flagging the sector to be oversold, making it a great time to grab some gusto and dive into the radioactive clouds that both heat our homes and will lead to our total extermination.

Below is the proprietary market timing oscillator I developed for the nuclear sector. We are now at the bottom of the recent range, an indicator that we are oversold and should revert to the mean soon.

If the bedraggled nature of the unranium sector is keeping you at bay from taking out a second mortgage and betting it all, consider the only publicly traded ETF, URA, as a suitable, albeit less volatile, alternative.

Maybe all of the hipster refugee lovers are doing away with pork, in solidarity with their new Muslim brothers and sisters? I hope they’re being good little hipsters and wearing their hijabs as they declare Trump a fascist.

Pork belly prices have been plunging, due to a god damned bubble in bacon that has been brewing for years. Ever notice the exorbitant price of a BLT sandwich (I love diners)?

Source: Bloomberg

Wholesale prices for pork bellies, the cut used for making bacon, plunged 14 percent on Wednesday, the biggest slump since August. The drop sent wholesale pork down the most in more than three years. Costs are tumbling as demand is easing for bacon after soaring this winter, a counter-seasonal move.

Normally, bacon demand heats up in summer, when Americans eat more BLT — bacon, lettuce and tomato — sandwiches. This year, consumers devoured the meat year-round as retailers pushed the product with deals and restaurants upped their use of rashers, adding it to everything from burgers to salads. At the same, McDonald’s Corp. made it a mainstay with its rollout of all-day breakfast. The increased demand more than doubled prices since August. It’s finally gotten so expensive that the high costs are stemming the tide of bacon indulgence, according to David Maloni, president at the American Restaurant Association.
“We’re in bust mode,” Maloni said by phone. “Anytime we get prices up at these levels, wholesale demand backs off, and that’s exactly what we’re seeing.”

One under the radar pork play is $SEB. Look at the chart on this thing.

Ultimately, pork prices will trade to zero, as the Muslim hordes reproduce and convert all of Europe into the caliphate. This could be one of the best shorts of all time, a bet on the savage rising up and imposing his barbarous theocracy on the world, doing away with bacon — thereby saving the glorious pig from feverish consumption.

Aluminum, steel and a sundry of construction names sold off with vigor this afternoon, after rumors spread by AP that Trump’s stimulus bill would be delayed until next year, in order to literally give democrats election wins this fall (anyone believe that yarn?). This is all part of the process of walking back a rally. Stocks never climb, uninterrupted. They’re instead stammered by periods of consolidation, swift pullbacks, and hair raising routs — before making it to their inevitable destination: higher.

Today’s collapse in $X, $CLF, $KALU and others is par for the course, an unfortunate tonic for an otherwise sick and twisted, even ribaldly hedonistic, spoiled rotten investor public.

On the upside were utilities and REITs, places of traditional safety and security.

When I first started the business in 1998, I was greeted with unending sell offs, panics, margin call liquidations, and utter misery, before getting to enjoy the grandeur of the dot com bubble. History doesn’t record the true nature of the dot com craze, a period in American history that will forever be remembered as the ‘Father of Stupidity’, bidding up worthless companies into the tens of billions. But there were disastrous collapses along the way. It wasn’t unusual to see your stock down 35% in a week, based off ‘profit taking’ or some fucked up rumor posted in the Yahoo message boards.

Getting off topic here for a second, one of the craziest trades we used to make was gaming CNBC Joe Kernan’s late afternoon internet stock segment, where he’d mention some dot com breaking out and why. For hours in advance of that teevee report, we’d be on the Bloomberg looking at the biggest winners for the day — buying up option contracts and taking heavily margined equity positions ahead of his report. I kid you not, after his report, the stocks mentioned would fucking explode to the upside, often doubling in a matter of minutes. Back then, merely changing your name from Fucktard Inc. to Fucktard.com meant your stock price would scream higher — because you were entering the wondrous world of the internet.

In many ways, this market reminds me of then. For the past 3 years, I’ve disliked the market. It felt fake, rigged, and definitely unsafe. At least now, like Trump or not, we’re talking about growth and not transcribing the speeches of the Fed heads, hoping to find something remotely dovish to give purpose to our bullish ways.

Yesterday Goldman predicted Trump would have to hold off on tax reform due to keeping busy trying to repeal Obamacare. That turned out to be fake news, as today Sec. Mnuchin said tax relief was coming by the August recess.

Now the ‘AP’ is reporting, via unnamed republican sources, that Trump’s magnum opus, the very reason why he was elected, to build the wall and upgrade American infrastructure, would be inexorably delayed until next year.

Source: Axios

The Capitol Hill calendar is way overstuffed — a Supreme Court nomination, plus Obamacare repeal legislation; tax reform; and budget, spending and debt-ceiling fights, including a possible showdown over a government shutdown.

So Republican sources tell us that a backup plan is emerging for one of Trump’s top priorities:

The plan: Push off until next year any consideration of the massive infrastructure plan Trump wants to push for roads, airports and other big projects, giving Republican lawmakers more breathing room amid a crowd of issues that’ll require massive effort, time and political capital.

The politics: Republican strategists say that Democrats, who’ll be reluctant to give Trump a win, will be in a jam as midterm elections close in: They’ll be under huge pressure to support big projects that’ll bring money and improvements to their districts. And blue-collar unions, including construction and building trades, can be expected to favor of the package, driving a wedge into the Democratic base.

What this shows: Trump officials, who originally wanted to flood the Capitol zone with their massive asks, are learning the rhythms of Washington — playing what White House counselor Kellyanne Conway last night called on Fox News “long ball, long haul.”

So let’s follow the logic here, shall we? Unnamed sources who spoke to the AP, an organization known to be very anti Trump, is telling us Trump will delay his big infrastructure bill because it’ll make democrats look bad, giving him ‘a win’, ahead of the mid-term elections? What in the actual fuck?

Does that sound like something Trump might do, sacrifice his economic stimulus plan so that the democrats could win some elections in the Fall?

Or, here’s another theory.

Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism – even before tax plan rollout!

— Donald J. Trump (@realDonaldTrump) February 16, 2017

Both Trump and Sec. Mnuchin are on record praising the stock market’s rally, using it as proof that Wall Street likes the direction of the administration’s policies. Leftards view this rally, or anything remotely supportive of Trump, to be hateful. They’ve even formed organizations to protest any item that is produced by anyone supportive of the President.

Here was Sec. Mnuchin today, in a CNBC interview — praising the market rally.

“There’s a lot of confidence in the Trump administration and in the desire to invest in the U.S.,” he told CNBC in an exclusive interview Thursday. “This is a very competitive place to do business. We’ve got great companies, and you see that reflected in the markets.”

The net result is an absolute rout in Trump infrastructure stocks, like $X, $CLF, $SLCA, $KALU, $USCR, $CMC, $AA and $CAT — just to name a few.

Even if the infrastructure bill was delayed to 2020, people should know the price of copper and steel isn’t born in America, but in China.

Let’s be clear. No one wants the Winklevoss twins to win. Those pedantic row boating Facebook lottery winning shits don’t deserve to keep winning like this. I don’t know how they keep getting away with it. Hopefully, the SEC will finally put an end to the ‘twin madness’ by declining their bitcoin ETF proposal, ticker COIN.

It’s widely believed, at least from gambling degenerates, the first ever pure bitcoin trust will be declined by the C students at the SEC.

As of Tuesday morning, the prediction contract’s pricing implied a 36.37 percent chance that the proposal, which has been tweaked about a dozen times over a registration battle that’s stretched over three years, will be successful.

Yeah, whatever, good.

Presently, there is a bullshit derivative based bitcoin ETF, dubbed $GBTC. Management fees are of the ripoff varietal at 2%. And, it’s trading at a significant premium to its reported NAV — due to scarcity of bitcoin product for normies.

Via Exodus.

In spite of the fact that bitcoin has been on a gorilla run for bananas since the new year, shares of GBTC have been bludegeoned to death, because (you guessed it), the fucking Winklevoss twins.

Look, you retards shouldn’t be long an ETF that is trading at a big premium to NAV anyway. If the Winklevoss twins win and this thing hits the shitter, you have only yourselves to blame.

Alternatively, I’d like to see the whole bitcoin game end already, finally laying to rest the idea that some computer generated pyramid scheme, which would’ve been highly praised by men like WEBSTER EDGERLY and his lunatic ilk, is an acceptable form of currency during the Renaissance era of fiat — where money is cheap and the central banks very loose.

The SEC will make their determination by March 11th, 2017.