Bank Stocks Reel After Top Democrat Says ‘We Will Not Do a Wholesale Rollback of Dodd-Frank’

At a speech this morning, ranking member of the Senate Banking Committee, Sherrod Brown, said “what we will not do is a wholesale rollback of Dodd-Frank.” That would be counterproductive… the law is working.”

How does it feel Trumpsters? Your beloved leader is literally hopeless, unable to get nothing done in an establishment controlled house and senate. This utterly powerless democratic senator just beat out the fuck down.

“Big changes create uncertainty, which is bad for everyone,” he said.

In spite of Trump ordering a rewrite of rage bill and dismantling of its key components, Sen. Brown and his good pal, Republican Chairman of the banking panel, Sen. Mike Crapo, like it just fine. Sen. Brown even took time out to praise his colleague and tell the people who paid him to make his speech that they were very much interested in policy that could ‘foster economic growth.’

“The days of the Senate Banking Committee and its dysfunction and, let’s just say less than busy work ethic, I hope is behind us,” he said. “We both have a commitment to work on issues we can come together on.”

He didn’t exactly elaborate which policies he’d support to foster said growth, considering his strict adherence to normality and status quo, fearing change could upset the nice little apple cart he has set up for himself.

Bank ETF, $XLF, is sharply lower on this news.

The yield curve has been tightening a bit, which has caused investors to chimp out and sell their bank stocks. At 115bps, the poor, idle, bankster is hardly able to make a living — doling out loans to stupid people at 32%apr.

Banks are off by 4% for the session. Crash mode.

Here are some larger capped standouts.

Bank stocks are reeling, off by 4%, as if the apocalypse was just around the bend. In addition to that carnage is a sharp and deleterious heart attack drop in Trump plays, like $CLF, $X and zinc stocks like $HBM.

On the upside, bitcoin and gold are higher, as well as utilities and bonds — a archetypical risk off Day.

The subsequent effect this is having on the overall indices is one of extreme harassment, sending the Dow much lower, alongside the very weak Nasdaq, which is filled with a sundry of weak numales running absurdly overvalued technology companies in Silicon Valley.

We at Ibankcoin hope that they die.

As an aside, Fed’s Kashkari was taking questions on Twitter today. I managed to squeeze one in.

Hangin’ tight, not really moored to the same emotional tirades that used to drive me fucking nuts in the past. To think that I used to burden myself with the responsibility of handling and overseeing the net worth of so many people, most of which are some of the most horrible people I’ve ever encountered in my life, I can only appraise my life after money management as zen — turning yours truly into a peacenik — only interested in good times.

Markets just dumped out, but I don’t really give a damn about that. I’m going to make a King’s ransom in my $WLK position. Time is on my side.

The Euro is much stronger today. I suppose the shills are enthused by France’s Macron and believe populism is as dead as David Rockefeller. Can’t we just get back to FOXCONN slave factories and rapidly disappearing factory jobs in America — in an effort to funnel our unskilled labor into becoming wards of the state to do with as we please? The monarch would also prefer that all wards of the state be disarmed — in order to protect them from committing suicide with their loaded pistols.

Market breadth is under 40%. Director Comey is investigating Russia and Putin is getting ready to meet with Sec. Tillerson. President Trump is permitting his daughter live in the White House and muslims are no longer allowed to play with their iPads en route to America.

Cheers.

Good news for you Applefags today. Apple has unveiled their latest color and it’s blood red. All monies earned through the sale of the red iPhone will go towards programs for HIV and AIDS — because nothing says ‘fuck aids’ like buying a $750 red phone, making oneself look like a Russian communist Nazi bastard in the process.

The new ‘special ed’  phone will come in 128gb and 256gb configurations.

The (red) program that the new phone will help finance will only serve people in sub Sahara Africa. Ergo, if you live in America or Europe, South America or Asia and have aids — fuck off — for Apple only wants to help persons living below the Sahara desert.

Quit shilling

Also, they’ve launched a new iPad, which is just like the old iPad air2 with subtle upgrades. The main selling feature is the price — starting at just $329 for 32gb, even poor people can afford it.

It comes with an A9 chip, making it faster, 8 megapixel camera with 1080p video and 1.2 megapixel FaceTime cam with 720p vid recording.

What are you waiting for? Head out to the mall and buy a few.

Not all muslims blow up airplanes. But all airplanes that have been blown up have been done by muslims. Ergo, the Trump administration has ordered that any electronic device larger than a cellphone must be stowed away in the luggage, so that it might blow up there and instead of inside the cabin where people might get hurt.

Eight airports, all within Muslim countries, have fallen victim to the latest spate of Trump’s neo racism,

Here are the guidelines. Those who do not adhere to these rules shall not be permitted to fly into the United States.

Electronics ban issued for US-bound flights from 8 Muslim-majority countries pic.twitter.com/lyphTK5RA7

— FOX & friends (@foxandfriends) March 21, 2017

$AAPL BTFO.

Secretary of State, Rex Tillerson, is skipping the useless NATO meeting scheduled for April 5-6th, in order to visit red China and then his good friends in Moscow, Vlad Putin and his diabolical band of hacking Kingmakers.

Tillerson is going to actually miss his first opportunity to meet with a group of autocrats in Brussels, in favor of a communist zealot in China and an inscrutable thug in Moscow. Can you believe it?

Advocates for the secretary might argue that the 28 nations that make up NATO are useless shills, milling about Brussels in search of good pizza — whereas negotiating with China and Russia could quite literally mean the difference between trade war and a physical one — something that is not in the best interest of the American people.

Source: Reuters

“It feeds this narrative that somehow the Trump administration is playing footsy with Russia,” said one former U.S. official who spoke on condition of anonymity.

“You don’t want to do your early business with the world’s great autocrats. You want to start with the great democracies, and NATO is the security instrument of the transatlantic group of great democracies,” he added.

I’m not exactly sure which democracies this unnamed ‘former US official’ is speaking of when referring to the cabal of European nations that make up NATO. Perhaps he’s talking about the ‘democratically elected’ leader of Turkey?

Nevertheless, expect the mayne stream meteor to chimp out on these awfully grim revelations of Sec. “fuck the press” Tillerson opting to ignore NATO in favor of relevant countries who could use some diplomacy to set things right.

We all knew the shills at the FBI were ‘investigating’ Russian phantoms, hoping to find more nothing. If we learned anything at all from today’s morose testimony by James Comey it is that he’s unwilling to confirm investigations were underway, or even considered, to reveal the leakers that keep disseminating sensitive information to the press. Bear in mind, this is a felony punishable up to 10 years in ape raping prison, yet no one seems the least bit interested in who was committing them.

We can hardly conclude that Comey is a democratic shill, considering he was instrumental in making Hillbot look like a literal prisoner one week before the elections — with the announcement of his pointless investigation which he later redacted.

What sort of game is Comey playing anyway? He confirms Russian investigation but will not confirm investigation into felonious leaks? pic.twitter.com/vbQQsM2nms

— The_Real_Fly (@The_Real_Fly) March 21, 2017

Newt weighed in on the matter which he described as ‘idiotic’ — confounded at the juxtaposition of Comey freely admitting to investing Russian phantoms, but unwilling to even say he might look into the leaks.

Pray tell me, why?

What sort of game is Comey playing anyway? As far as I can tell, he’s a bull in a China shop just making a mess and a lot of noise — but doing nothing other than that. Lots of accusations are flying on both ends, but nothing is ever revealed or concluded. He’s probably the most universally hated man in America, from both sides of the aisle, yet there he is shilling away.

How can anyone believe a word coming out of this man’s mouth?

In a long winded day of testimony by FBI director James Comey, one indelible exchange stood out to me like a sore thumb. Throughout all of the Russian hacking business, and baseless accusations designed to undermine President Trump, Director Comey’s incompetence shined brightest here — weaving a fantasy filled narrative of Russians hating Clinton and trying to undermine the US elections, only to later find Mr. Trump to be hopeless. The passive aggressive nature of these comments are not only accidentally disrespectful to the President of the United States, but they also expose the Directors proclivity to act rashly and without facts — saying things based on theories concocted inside of his office — in spite of the fact that they might further denigrate relations with Russia and make us look like a bunch of paranoid pavement apes.

Is it possible the Russians hated Clinton? Of course. Why wouldn’t they? After all, it was Russia who interfered in Obama’s schemes to upend Assad and install a new ‘rebel’ led government filled with terrorists. Moreover, the United States, hypocritically, had been meddling in Russian-Ukranian relations — imposing sanctions on Russia for clay that has always been within Russia’s sphere of influence for hundreds of years.

Here’s Democratic Congressman, Adam Schiff, being hosted by a Ukranian arms dealer.

Congressman Adam Schiff (D) had a fundraiser hosted by a Ukraine arms dealer with heavy ties to George Soros! #ComeyHearing pic.twitter.com/Xo8CY5YRZ3

— DEPLORABLE MEDIA (@correctthemedia) March 20, 2017

And let’s not forget how chummy Sen. McCain was to who he thought was the Ukranian PM during a prank call last month.

If you’re Putin, clearly, you wouldn’t want Hillary elected — because it would probably mean World War 3. Don’t forget, Sec. Kerry was calling for aggressive action against Russia-Assad — which was thrawrted by Obama. Had Hillary been elected, the Syrian war might’ve taken on an element of global crisis instead of a localized quagmire of death and destruction.

If we’re talking about ‘Russian meddling’ into the US elections, we are only talking about whether or not Russia provided Wikileaks with John Podesta’s emails. That is the extent of the conspiracy. This whole drama is because one man, one incredibly stupid shill of a man, whose password for his gmail account was “PASSWORD”, got hacked and all of his sordid secrets of DNC primary rigging and collusion with the mainstream media was laid bare for the whole world to mock and deride.

To date, there is zero hard evidence tying Wikileaks to Russia — aside from Comey’s coffee table talk with his other Catholics in Action friends at the CIA.

We’ve definitely run into some resistance as of late. Part of the recent reticence in stocks is due to the Nov-Dec rally, post election, which caught everyone off guard. Now we’re digesting recent gains, sitting around doing nothing, while Mother Market decides where to take us next.

Much of our future is dependent on the Trump movement, how much he can get done in lieu of Washington shills interfering in his populist ways. Also, Federal Reserve policy might begin to play a key role soon, especially if their tightening is compounded by ECB and BOJ tightening. Next thing you know, we’re all in the back of a jam-box trying to sort out our lives in a post-capitalist society.

For the year, there are extreme losers (extra Bernie Sanders) — in light of the grandiose headlines being purported. For example, Department Stores are down 20%, Oil and Gas Exploration -17.3%, Long Term Care Facilities -14%, Food Wholesale -12%, Apparel Stores -12% and Drug Delivery -11.5%.

On the upside, there is Nuclear +25%, Aluminum +25%, Semis +21%, Consumer Services +19%, Home Improvement Stores +19%, Security and Protection Services +18% and Residential Construction +15%.

So what do we glean from all of this pin action?

Retail dominated industries are the plague, as well as anything healthcare related due to the uncertainty of Trumpcare. All of the Trump themed trades are doing well, but crowded. There have been many people piling into commodities and construction plays in hopes of a gigantic infrastructure bill.

What’s next?

I think it makes sense to accumulate larger industrial names who will benefit from better trade deals, lower tax rates, and a boost in global GDP. With my money, for now, I am 100% long $WLK. That might change, as I dig deeper into this narrative.

The bull is alive and well, in spite of its sluggish demeanor. Bide your time and watch the headlines closely and hope the country doesn’t implode before we can make our fortunes.

Does anyone shop anymore? I’m fine with the market ignoring this huge blight in the American greatness narrative. After all, consumerism kills more people than cancer, so I’ll never pretend to be a fan. But the trends in front of our faces speak volumes as to where this economic landscape is heading, a place festooned by warlords and rolling balls of hay — amidst tumult, war, death and destruction.

Happy Monday.

Retail stocks are plummeting today, off by 3% on zero new news. For the year, losses are in excess of 15% with some companies down much more.

It’s very convenient to blame $AMZN on everything, idly suggesting that all of the loss revenues have shifted to her.

(Adjusts microphone)

WRONG.

The revenues are simply lost. Americans are consumed by student loans, car loans, and healthcare, beguiled by their stagnant wages.

Prove me wrong.