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.
If you were long stocks heading into today’s jobs report, what exactly are you celebrating today? Lack of Fed rate hikes? You weren’t seriously thinking that would happen in the first place. Today’s numbers were perfect, weak, but not too weak. They were so good, conspiracy theorists might surmise they were custom tailored for the markets itself.
If you take into account yesterday’s ISM numbers and today’s +151k jobs number, which was sprearheaded by bartenders and waiters, a weaker economic narrative is being painted–heading into the fall.
Markets were up more than 100, now higher by 40. The dollar, which was initially lower v the euro, is now ripping higher.
How could oil and gold be higher in the face of this strong dollar?
The Russian President, Vladimir the Impaler Putin denied having anything to do with the DNCLEAKS, which exposed fuckery largess by the Democratic Party, who were wholly intent on fucking Bernie Sanders.
It has been a straw man talking point of the DNC and Hillary Clinton to discuss the source of the leak, rather than the leak itself.
“Listen, does it even matter who hacked this data?’’ Putin said in an interview at the Pacific port city of Vladivostok on Thursday. “The important thing is the content that was given to the public.’’
“There’s no need to distract the public’s attention from the essence of the problem by raising some minor issues connected with the search for who did it,” Putin said of the DNC breach.
“But I want to tell you again, I don’t know anything about it, and on a state level Russia has never done this.”
150k jobs were added in the month of August, well short of the 180k forecasted. The numbers were light, but still good. As such, the men of Wall are pricing in a Fed pause.
The biggest jobs gains were found in bars and eateries, with 34k new jobs added, as people drank and stuffed their fat fucking faces in record numbers–celebrating all of these gains.
Stocks are pointing up. Gold and oil are ripping, obviously. And wanton degeneracy is on the rise.
Once again, a well timed disappointment has provided the Fed with the fodder they need to sit back, do nothing, and watch equity markets do their magic.
If you’re unaware, YouTube announced that they are demonetizing content they deem offensive or inappropriate. This form of censorship I’ve seen at our little YouTube channel for months. We have a little more than a thousand subs and the vast majority of iBankCoin’s revenues derives from the sale of premium products. However, there are thousands of strong and good content providers who depend on ad revenues to not only motivate them to provide valuable content, but to live.
Phil DeFranco does the news in a comedic way. He’s great at what he does and isn’t a leftist or a right winger, as far as I know. He has over 4.5 million subscribers and is concerned about this new form of censorship by Google.
Watch these videos.
I am sure this YouTube ad policy will move to digital media next. If you’re running a digital media brand and dependent on ad revenues to keep the lights on, I strongly suggest that you diversify.
This is one of the egregious forms of media bias I’ve ever seen. A man rescued a baby and was interviewed by HLN, which is owned by the same people who own CNN. During the rebroadcast, they blurred out the letters on his t shirt because it spelled Trump. These people are craven madmen, drooling with anger.
The fuckheads at HLN tweeted a statement of apology and said it was an error.
Watch out Julian Assange. If elected, Hillary Clinton might bomb the shit out of the Ecuadorian embassy in London, in order to take you out. After 15 years of war, H. Clinton reminds us that war is perpetual and that new enemies crop up on a daily basis. Some of them are tangible. We can capture, torture them and then kill them, after extracting information. Others are more stealthy, sneaky devils in Moscow hacking into emails, exposing wanton corruption in the DNC–which demand a 21st century response.
Such a response, gentlemen, is as ancient as the Knap of Howar. War, gentlemen, was the answer then and it is still the answer now.
“As President, I will make it clear that the United States will treat cyberattacks just like any other attack. We will be ready with serious political, economic, and military responses,” she told the attendees, largely made up of veterans and their supporters.
“We are going to invest in protecting our governmental networks and our national infrastructure,” she continued. “I want us to lead the world in setting the rules in cyberspace. If America doesn’t, others will.”
“We need to respond to evolving threats from states like Russia, China, Iran and North Korea,” Clinton said in the speech. “We need a military that is ready and agile so it can meet the full range of threats and operate on short notice across every domain – not just land, sea, air and space but also cyberspace.
“You’ve seen reports. Russia’s hacked into a lot of things, China has hacked into a lot of things. Russia even hacked into the Democratic National Committee, maybe even some state election systems. So we have got to step up our game. Make sure we are well defended and able to take the fight to those who go after us.”
Thirteen thousand refugees have arrived in Italy over the past 4 days. Turkey is holding Europe hostage, saying they wouldn’t stem the flow of refugees heading into Europe if Turkish citizens weren’t given free passage throughout the continent.
Heading into the Fall, smugglers are busy little fucking bees. You haven’t heard much about the migrant crisis because they’re all plotting and scheming to enter now through November. The face of Europe is about to change, forever.
Here is an arrival chart for the unlucky persons born into shithole countries, ravaged by wars and barbaric religious ideologies, who wish to bring their culture to the western do-gooders in Europe.
Jack Ma, CEO of Alibaba, is one of a handful of autocrats running the globalized economy. There are very few people in this world as bad as Jack Ma. But his head is shaped like a football and he speaks with a disarming Chinese accent. He looks like a rice farmer and his words are soft, docile and peaceful. Meanwhile, he’s a devil motherfucker who wants your kids to starve, as he employs your child in one of his slave labor camps.
But here’s the argument that the globalists will sell you, the layman.
“You can do it too.”
No you cannot.
The globalists are entrenched by a moat of lawyers, regulations, patents, and uncompetitive tax law.
But if you think you can do it too, well, you might just go along for the ride a little while longer.
The co announced that, although it believes that it has current liquidity sufficient to make the approximately $6.8 million semi-annual interest payment due on September 1, 2016 with respect to its outstanding 10% Senior Notes due 2017, it has elected not to do so at this time, pending the outcome of its Exchange Offers and Consent Solicitation described below. Non-payment of this interest would become an event of default under the indenture governing the 2017 Notes if the payment is not made within 30 days.
As of August 31, 2016, the Company has approximately $280.3 million of outstanding senior indebtedness consisting solely of the Old Notes with no amounts outstanding under its senior secured bank credit facility. The Company is continuing to pay suppliers and trade creditors and fund current operations on an ongoing basis.
Upon an event of default under the indenture governing the 2017 Notes, the trustee or holders of not less than 25% in aggregate principal amount of the 2017 Notes then outstanding may declare the principal amount of the 2017 Notes plus accrued and unpaid interest to be immediately due and payable. An acceleration under the 2017 Notes would also result in a cross default under the 2021 Notes. The Company has entered into a forbearance agreement with the lender under the Company’s senior secured bank credit facility with respect to certain cross defaults resulting from the election not to make the semi-annual interest payment with respect to the 2017 Notes. The forbearance will terminate upon earlier to occur of October 1, 2016 or the occurrence of any specified forbearance default, which includes, among other things, the failure to pay interest with respect to the 2017 Notes upon the expiration of the 30 day grace period applicable to such payment of interest.
Investors had no idea this was coming. The stock was up 54% over the past two weeks and was the preferred trading vehicle for degenerates everyone, up until the point when the companies reality caught up with its fictional narrative.
For a minute there, maybe two, it looked as if stocks were heading lower. The Dow was off by more than 100. WTI was down 3.5% and the mood in the room was glum. Then, as if everyone was stricken with an epiphany all at once, stocks lifted and lifted some more. The prevailing wisdom is, and always has been, stocks will continue higher as long as central banks wish it so.
Gone are the days of business cycles and earnings. All that matters now is rigging and the cajoling of sentiment, across the globe, for the explicit purposes of realizing utopia–a society that is starkly divided amongst classes and where profit is paramount to all tenets, even life itself.
Oh, you’re just a low farmer, minding your business and growing food from the earth?
Are you uncomfortable paying $2,000 per mo for your families health insurance? Too bad, profits must be had.
Eventually, most of you will become wards of the state, with the majority of property and wealth in the hands of an elite few. The indelible march towards tyranny begins and ends with the rigging of markets, which is at the epicenter of everything that’s wrong with society today.
