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.
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