We are fucked for at least 2 years. The fantasies of V shaped recoveries are juvenile dreams on par with pornographic woolgatherings. Markets feinted higher and have since collapsed — presently and without brakes STEAMING lower into the close, now down 78 NASDAQS.
Whilst not entirely terrible, the key component of the market angst is lack of places to hide. It seems the commodity sector has been co-opted by the recessionistas and have made that sector part and parcel of the bet against the west, as they continue to spiral lower into recession self inflicted by the sanctions placed against themselves in an effort to protect their vassal state Ukraine.
I have remained in cash the entire day because I am a professional. I am not fooled or tricked easily, like so many of you. I do not view the market as a place to loiter, but instead strike fast and hard with pistols drawn.
Into the bell, I will position into risk averse names with a hedge, but also lots of cash.
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Good Sir, we are currently rallying…
Canceling student debt would be a bold move by Jim.
Rewarding all the worst offenders. The apparatus that generated these loans and the ‘students’ they talked into lifelong servitude. And finally rewarding those who paid their own way or paid off loans – rewarded with a kick in the teeth.
Bernie Sanders @SenSanders
Cancel it. Every penny.
Student Debt Crisis Center (SDCC) @DebtCrisisOrg
Today, the student debt crisis reached $1,909,026,295,600