Last night I was truly excited for the first time in weeks, seeing futures limit down and Zerohedge excited on Twitter and all of the bullfags peasantly quiet, demurred by the specter of pain. In spite of having 50% of my trading account long and 100% of my long term quant long, I wanted to see investors ‘go away in May’ because I’ve been bored and needed another distraction — aside from cleaning blinds and moving.
Early this morning, the news got even worse after it was reported we might strike Iran for looking at us sideways. We sent the USS Lincoln there to put those fuckers in line and Trump was tweeting shit towards China.
Then I saw Brent higher this morning and WTI barely down and I knew it was more nothing.
Buy the dipFAGS barreled in heavy and now we get to listen to so many market geniuses telling us to simply buy all the time and there’s never going to be a pullback — because I don’t know what anymore. I do freely admit that the bull market has been great for me — but I must also admit that I hate it with nearly every fiber of my existence.
I’ve thought about this a long time and I think I know why.
See, this market is like a baseball game with 5 outfielders and no strikeouts. Swing until you hit the ball. Ever play that shit as a boy? No one on the bench — but pile everyone in the outfield and let the batter swing 100 times until he hits the God damned ball. Second place, third place trophies for all. That’s what this market is to me — rigged and an abhorrent display of late stage end game capitalism.
Oh, I’m being dramatic and talking shit?
Then explain to me why the ECB had to bail out all of the fucking banks in 2012 and tell me what was happening to said banks before they did? Also, explain to me what would’ve happened to American banks, had it not been for the continuous support of the Fed?
We’re all filled with vim and hubris, courtesy of government support for markets. Believe me, I’m not betting against it and it’s likely to keep going higher. But do not disillusion yourselves and be clear eyed about what you have in front of you — a Frankenstonian economy at $22 trillion in debt standing on its legs thanks to the crutches provided by central banks.
I didn’t buy anything this morning because I didn’t want to get lured into a buy the dip morning and get ravaged by a sell the buy afternoon.
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crutches provided by central banks…AND the most powerful military complex to ever fucking exist
One of my favorite post of yours. Why have we all allowed this? There will be many books written on the upcoming Great Global Depression…and so many will question why the world was so stupid to allow it to happen.So many lives are going to be destroyed with so much suffering. Good that we have a strong Ark…but OMG we should have stopped this.
Agree with you Fly … there’s something badly wrong with this market and what it is currently doing. ECB all the way…
So – not only were the banks bailed out, but why after 97 years did the Fed feel that now it must pay interest on reserves??? Those very same reserves that for 97 years had been cost of doing (a most profitable) business??
2% of $1.5T of reserves = $30B/year to the banks FROM US for doing NOTHING!?
And we, ChumpFAGs, just let it go on fine.
END THE FED!
her ye, hear ye, it’s the BAIL-OUTS R Us market
sponsored by your friendly CB’s using confetti money or your taxes, whatever they can get their grubby hands on
Of course, this game is a lot longer than you think, so I don’t see it ending anytime soon.
Here’s the endgame: just like most Western countries (and China and Japan, too), demographics are slowing down econmic growth. Retirees will be taking an ever increasing slice of the pie. Of course, older voters are more reliable voters as well. This will put the US in a postion of a growing population of non-workers directing how money gets spent, which is not a stable position: eventualyl the younger workers will get sick of paying the debts and entitlements run-up by their elders.