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
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Hong Kong Cancels All Flights; Futures Sink

The entire country is Hong Kong is melting the fuck down — because they really want our brand of Epstein-esque freedom — the same type of freedom so liberally delivered to Iraq and Afghanistan and many other countries who were fortunate enough to see the barrels of our tanks.

A little background, China has accused the US of fanning the flames — responsible for these protests.

A Chinese media shill posted a picture of a US agent meeting with Hong Kong protesters.

What does it all mean? THE ART OF THE FUCKING DEAL!!!

“The bear is alive and kicking. We think the failed breakout last week for the S&P 500 confirms we are still mired in a cyclical bear market,” Mike Wilson, Morgan Stanley’s chief U.S. equity strategist, said in a note on Monday.

The escalated U.S.-China trade war rattled the markets last week with the Dow posting a loss of 0.75%. Major stock averages suffered their worst days of the year on Aug. 5 after China allowed its currency to drop against the dollar below a key level unseen since 2008.

The intensified tensions caused Goldman Sachs to lower its fourth-quarter growth forecast by 20 basis points to 1.8% as the firm no longer expects a trade deal before the 2020 election.

The People’s Bank of China (PBOC) on Monday set its daily midpoint for yuan trading at 7.0211 per dollar, the third consecutive session below the psychological level of 7 per dollar. It was also weaker than Friday’s session, but beat market expectations.

Dow futures -205. We’re fucked.

UPDATE: Argentinian FUD released!

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2 comments

  1. gsofield

    Its all bullish. Any weakness in the markets will be bought. They will close the pig green. Bears will go the way of the Dodo. Do your civic duty and buy all dips. We should start hearing bullshit like we are the cleanest dirty shirt in the hamper.

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  2. numbersgame

    “We’re fucked.”

    Not if you have 95% bonds and cash…

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