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
21,906 Blog Posts

CATACLYSM

Complete annihilation from the top down. When has American been this bad, tell me? We are segregated by class, race, and medicinal status, all encouraged by leadership. Our wars have been giant colossal failures to the point of national humiliation. Economic policy has been ruinous to the point that it encourages sloth and has resulted in supply chain catastrophes and rapid inflation. Structurally our cities are cesspools of crime and degeneracy, once testaments to our greatness but now reminders of our failures.

So it’s not really a surprise to see Russia moving military personnel around or China menacing Taiwan or our medical establishment completely and totally discredited after two years of propaganda trying to convince parents to inject their 5 year olds with a vaccine against a virus that poses close to zero risk to them. I thought the Trump administration was bad, always making promises but instead ending up in scandals — but this takes the cake.

Has a President ever been so persona non grata? I don’t even hate Biden. He evokes no emotional response from me other than depression. I look at him and think he’s not there. Luckily for us, the President isn’t really in charge. I must say, this is the worst leadership from the CIA in decades, perhaps ever.

Markets are spiraling lower and at the center of the problem are interest rates, with the 10yr now above 1.8%. SAAS stocks are off 18% for 2022 and only energy stocks are doing well thanks to inflation and a European energy crisis.

I’m open to the idea of a silver lining in all this. Perhaps, at least from a stock market point of view, we are oversold and can rally soon out of sympathy. But even if we did, none of the problems are going away and in order to get the inflation genie back in the bottle it’s gonna take some deflationary measures to make it happen — never a feel good process.

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10 comments

  1. juice

    Sadly right on the money all the way around

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    • roguewave

      I wish I could disagree with any of it.
      It’s a runaway train with no brakes headed down the mountain. An individual has no overall influence. All you can do is protect you and your family, best you can.

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  2. Orson

    Oversold? We’ve been overbought for 13 years. What rhymes with trouble?

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  3. Mr. Cain Thaler

    Energy prices are kind of trading down into the end of the say. It wouldn’t surprise me if they go zero or a bit negative.

    But NY Fed all but confirmed recession. Energy should be down 4% across the board right now, not flirting with the highest prices since 2014.

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    • Mr. Cain Thaler

      Energy prices now turning higher, other commodities following.

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  4. Mr. Cain Thaler

    Of the day*

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  5. purdy

    Excellent summation in your opening paragraph.

    Bought the dip in Lukoil and Gazprom.

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  6. traderconfessions
    traderconfessions

    When u were trading well way back in 2021 all was fine but now that you’re back to sucking the world is coming to an end? You should have an altar to Biden in the Fly plantation home. He’s been paying for your wine and tennis lessons.

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