Show me the deflation here you son of a bitch.
I had a good day, +3.85% — only to be beset with 100bps worth of AHs losses on this fucking son of a bitch loss in ILMN post earnings miss. I was gambling on purpose and had two choices: TOST or ILMN. I chose ILMN due to the large capped nature of it and the fact that it is a high quality company.
TOST is +15% in AHs and ILMN is going to zero.
I can’t even boast about my gains today and my inflation is coming back to ball and chains your portfolios anymore. I am livid over this last minute earnings gambit that I took at 3:58pm.
I was going to rant about the inflation narrative coming back. See graphic above and come to the conclusion that any reflation will also be met with inflation, a circular fuckery that leads us to only higher rates and a complete destruction of the global economic order.
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But correct higher rates are coming.
Sorry for the losses.
“… a complete destruction of the global economic order.”
Sounds like fun. That and 87,000 new IRS agents.
May have to do with crypto and/or their understanding that, when the wheels really come off, people will do their business off the grid.
I don’t think this is about going after the little guy who gets paid in cash/tips or even those who use the tax code to their advantage.
It may also be a police force that just seizes assets from those who don’t agree with the narrative.
ie conservatives.
They will go after crypto hard for sure but 700,000 new audits target those earning under $75k. (They’re easy defenseless targets.) to strongarm.)
This is a classic declining empire gambit. The expected revenue never comes in. Tax rates have been 20% to 90%. % of tax revenue never varies much regardless. Bozo’s know nothing of history and will try things that have failed again and again throughout history. Go where you are treated best is the only hope.
Trump & Reps attempted to cut the federal tax subsidies to the profligate blue Dem states like NY, IL and CA. In the process it triggered an exodus (and more political power) to the financially solvent red states (which was accelerated by COVID lockdowns).
I think part of the motivation for the IRS focus is the Dem desire to go after the Red states.
It won’t matter who is in power in future as the permanent bureaucratic state is matastasizing like a deadly cancer. The IRS, DHS and other critical agencies are being weaponized.
When these people can use the federal arsenal, they acquire unlimited, unchecked power. A license to kill. Shocking that almost every federal government agency has an armed enforcement capability. This should never have been allowed.
Congress (both sides) is the embodiment of Sherlock Holmes’ “The dog that didn’t bark”. Nelsonian knowledge.
Not sure because many earning $75k or less are W2 employees. Not much meat on them bones.
Two quotes from literature on inflation:
“The inescapable conclusion of any factual study of the major kinds of inflation is that debt, in its many forms, moves restlessly and relentlessly beneath all of them” (Skinner)
“Inflation is always and everywhere a monetary phenomenon” (Friedman)
We are in a new era and way out of the sweet spot for equities, (being diminishing inflation and low interest rates).
I wonder where the price of oil will go when they start to refill the strategic petroleum reserve, post midterm elections?
And what if hurricanes cause one or more temporary refinery shutdowns?
Inflation is zero. Just ask the President.