Wasn’t it nice to find out there is NO inflation, via today’s CPI data? According to the Fed, gasoline and commodity prices went LOWER. Ha.
Something tells me the g-men are trying to save a few bad dollars in social security payments, via juking the inflation data to appear benign.
Forget about what the idiots with pocket protectors say. We have run away inflation. Trade accordingly.
Apparently, [[BSC]] is on the brink of insolvency. As you know, should the worthless assets of Bear Sterns be recognized for what they are (worthless), the world would slip into a black hole and be eaten by dinosaurs.
So, in order to prevent world destruction, the NY Fed, in their infinite wisdom, decided to save Bear Sterns. Very nice.
Let’s sum up the bullshit country we live in:
During the worst housing crisis in 100 years, we’ve learned, NO ONE is allowed to fail. Everyone is too big. From homebuilders to money centers to low-end brokerage houses to monoline insurers, if you need a little scratch, knock on the Governments door and they’ll help you out. This, as you know, is not capitalism. This is socialism heavy, not light, which is disgraceful.
However, none of my bickering or sharp spikes in interpersonal acts of violence will help anyone make money.
Here’s how I see it:
Fuck Dennis Gartman. Ride this sucker out. When I smell panic, there is bound to be some sort of shoe to drop. Just so you know, the Fed is panicking. If you’re the nervous type, hedge some of your downside plays, with a few longs. No big deal.
Inevitably, those betting on the downside will be right, as the recession deepens and little fuckers like Bear Sterns get washed out.
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