iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,464 Blog Posts

Trump on Fed: ‘THEY’VE GONE CRAZY, OKAY’

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Nasdaq futures are -45, which is practically up considering today’s -300 squall.

Watch the USD/CNY cross. Right now, nothing.

Here’s Trump making sure the Fed hikes again in order to maintain a semblance of independence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

“Actually, it’s a correction that we’ve been waiting for for a long time, but I really disagree with what the Fed is doing,” the President added.

I’ve always been against the Fed hikes, but they haven’t got in the way for two years — until now. There was never a reason to hike rates in terms of the economy — but that wasn’t why they were. The Fed was hiking rates in order to increase the returns of pension accounts nationally, those tethered to bonds, forced to abide by certain risk criteria. Zero interest rates was a curse and a pox upon pension managers. They need higher rates in order to keep their Ponzi schemes going, otherwise we were barreling towards perdition with GE being the poster child of corporate malfeasance.

In terms of inflation, the rich enjoy 15%+ inflation, YOY. Everyone else, nothing.

The NIKKEI is -3.3%, but the DAX is only indicating -0.9% now. If this holds up, I can assure you will be bounce in the morning and Le Fly would have won again, in a most admirable and respectable way.

Enjoy your suppers.

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17 comments

  1. tradingnymph

    Huh? Dax Futures aren’t open yet??? PBoC just did daily fixing…neutral. Offshore USD/CNH is trying to push up. CNY/CNH is up over .37% at the moment..bit of short covering. This Bear is still worried about those pre Brexit talks to fix a deal for the official talks…darn Euro and Pound against the dollar has hope too.

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  2. acehood

    In other news, Brett Kavanaugh is on his fifth beer of the evening.

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    • Lyndon Keltner

      “Indelible in the hippocampus is the laughter.” Said the “hoax” originator.

      N.B. Trump still confuses a pair of asterisks with a pair of double quotes in his “writings” as of October 2018.

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    • ferd

      I know we’re not supposed to be political any more, but through the Kavanaugh drama, all I could think of is how the survivors/families of survivors of the millions of killed, maimed, raped and displaced in Iraq, Syria, Yemen, Palestine, and Libya must feel when they see us get so upset about the possibility that a high school student at a drinking party may have gotten dry humped 30 years ago.

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      • acehood

        Pretty sure they have more pressing things to worry about (extra eye roll).

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      • Lyndon Keltner

        I tend to first think of the survivors/families of survivors of police brutality, like getting shot umpteenth times for whatever reason or no reason at all.

        It literally hits home closer to me.

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        • ferd

          Yep, I hear you. But at least those shootings get some sympathetic coverage in our MSM and from our pols, while the victims of our mid-east interventions do not.

          BTW, it is not just blacks who are abused by police. While there a lots of decent cops, that profession tends to attract sick minds that need to shit on someone …anyone. And if there is no one who looks different than them handy, that sick mind will abuse someone else. And the culture of the brotherhood has the average cop protecting the many sadistic cops.

          I raised my kids in a wealthy, lily-white Boston burb. My youngest son was rendered unconscious in a horrific traffic accident in our town. When he staggered back to consciousness, he was “non-responsive” to a white police officers commands so the cop beat him and fractured his cervical spine in three places. (I knew a cop who got the skinny from another cop who was there.)

          Anyway, consider that, politically, it may be more helpful if we started to examine police recruitment, training and police culture more generally …while we continue to work on the stereotypes that cops bring to encounters with black males. After-all, for the present at least, us crackas still run the place and you need whites to see it as a problem that may hit them closer to home – as it does you.

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          • Lyndon Keltner

            Replacing shitty cops with robots is the answer.

            The cameras on the shitty cops are the first step.

            FWIW, Boston did just elect its first black police chief this year in its entire four-century history. I ain’t complaining.

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      • numbersgame

        Ferd,

        If you listened to Ford’s testimony, you’d ralize that the “dry humping” was the last of her fears. She literally thought she was going to die. Also, I dare you to make the same statement directly to the face of a sexual assault victime.

        It is a pity that the ranks of conservatives are so low in character that this is **literally the best person they could find** to dole out Justice in the highest court of the land.. That is the problem.

        You don’t see liberals saying that they shoudl imprison him, although many have gone to prison based only on the memory of a single witness. Of course those convicts aren’t from white upper calss families.

        Last word:
        “I hope that you will suffer betrayal because that will teach you the importance of loyalty. Sorry to say, but I hope you will be lonely from time to time so that you don’t take friends for granted. I wish you bad luck, again, from time to time so that you will be conscious of the role of chance in life and understand that your success is not completely deserved and that the failure of others is not completely deserved either. And when you lose, as you will from time to time, I hope every now and then, your opponent will gloat over your failure. It is a way for you to understand the importance of sportsmanship. I hope you’ll be ignored so you know the importance of listening to others, and I hope you will have just enough pain to learn compassion.”
        – Chief Justice John Roberts (a conservative worthy of the Court)

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        • numbersgame

          Sh!t, missed the first line:

          “I hope you will be treated unfairly, so that you will come to know the value of justice….”

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        • numbersgame

          To be fair, I should have wrote “the ranks of Republicans are so low in character.” There are conservatives that still hold character as an imperative leadership trait.

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  3. ferd

    US markets (Naz and S+P) only half way to reaching their 2009 to present uptrend line – might bounce around here, but it’s still a crack-fueled heated bull.

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  4. Lyndon Keltner

    Moar crash till the VIX hits 50. Let’s go.

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  5. rangersfan

    bought BLK CBLK BILI SOHU ROKU NVTA

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  6. indie

    This party is gettin’ lit.

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