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.
The headquarter of the deflationary vortex can be found at Amazon. It’s only a matter of time before they assimilate all products and services into their manifest. They’re now taking aim at food delivery. Why? Well, because Jeff Bezos felt like doing it.
In September, Amazon debuted the service in Seattle and many speculated that the service was just an experiment. More recently the service has been available in Portland and just yesterday L.A. was added to the roster. The company is now planning to add restaurant delivery to everywhere Prime Now—its same day ordering platform which delivers direct from local vendors– is available.
So how does it work?
Prime Now has an annual $99 fee. It’s currently available in several major U.S. cities including Atlanta, Austin, Baltimore, Chicago, Dallas, Houston, New York, Miami, Minneapolis & St. Paul, Phoenix, San Antonio, and the San Francisco Bay Area. The service boasts a free two-hour delivery window but if a customer needs something in one hour a $7.99 delivery fee applies.
Will Amazon make money on this new venture?
Don’t be ridiculous. Bezos takes the Commodore Vanderbilt approach to capitalism. He competes to destroy his competitors. When they’re all washed away, Jeff will likely turn on the money faucet and turn Amazon into the world’s largest company.
I’ve had my reservations with Herb’s red flags, dating back to the days when I was long HANS, now called MNST. I hated when he’d appear out from the woodworks and talk shit about my position on CNBC. Obviously, I didn’t want to lose money due to some guy on the teevee casting aspersions at my positions.
But over the years, I’ve grown to accept and even respect his work, especially when it comes to China.
On a CNBC interview today, when asked about BABA, Greenberg posited “what are the numbers?” He went on to say his partner analyzed the numbers and his head felt like exploding, when looking at the sheer scale of fuckery taking place at Jack Ma’s playhouse.
On a day when just about each and everyone of these Fed fuckers are making speeches, talking out raising rates and how inflation is just around the bend, the IMF issued a report, reminding the Fed of their own mandate.
“The Federal Open Market Committee’s (FOMC) decision should
remain data-dependent, with the first increase in the federal funds rate waiting until continued strength in the labor market is accompanied by firm signs of inflation rising steadily toward the Federal Reserve’s 2 percent medium-term inflation objective,” said the note, which does not necessarily reflect the views of the Fund’s executive board.
A Reuters poll published on Tuesday showed a 70 percent chance the U.S. central bank would raise its short-term lending rate at its Dec. 15-16 meeting, after a stronger-than-expected jobs report last week.
In a speech today, Fed’s Bullard warned the Fed of being in a ‘permazero” rate environment and this fucker even said he ‘yearned’ for times when the Fed actually had a job to do, pulling levers. It sounds to me these old hags are bored, nothing to do, feeling useless, so they’re trying to restore themselves back to their former glory.
I’m sorry, I didn’t realize America’s monetary policy was there for you to amuse yourself with, fill the void of a mid-life crisis.
The Fed is afraid of becoming Japan. Well, it’s too late. We are Japan. We’re not Japan because rates are zirp. We’re Japan because we absorbed the banks’ losses in 2008 and now have $20 trill in debt. It’s pretty hard to grow fast when you have that much debt.
I’m doing alright today. Stocks are getting fucking hammered into puzzle pieces. We’re at session lows right now; but I am okay, fully accepting with a ‘calm normality’ that the reason why Fed’s Dudely is asking for a series of rate hikes, after the obiovus December one, is because he’s a villain, wholly consumed with destroying the world.
Janet Yellen took over a Bernanke Fed with one job: don’t fuck it up. Since then, she’s done everything in her power to mess things up. Now the world is in a very hard spot. I get the fact the economies ebb and flow and we’re overdue a little ebbing now and then. But what I don’t get, for the life of me, is why the Fed feels it’s incumbent upon them to accelerate the drop by causing a stock market rout.
After thinking it over, fireside over a glass of brandy, I’ve concluded there could be just one reason.
The villainous Federal Reserve wants to bankrupt CHK and their stupid peers.
They are going to clear the market of weak balance sheets, exact a reset, cause financial anarchy, then try to pick up the puzzle pieces later and create a new economy.
You’d be wise to sell all of your weak balance sheet stocks now. The pain is here and it’s not leaving until CHK is dead.
Unlike previous birthdays, I’m not going to wax poetical over the past, bring back old bloggers from the dead, and reminisce over yesteryear’s glory. I’m very excited with the new iBankCoin and the direction the site is headed. For years I treated the site as a littering ground for my frustrations, thrusting them upon you, the reader; and, as a result, I greatly limited my ability to inform and communicate with an otherwise inferior set of intellects.
Thankfully, I’ve decided to embark on a new journey with iBankCoin, one focused on content, finance news with an interesting twist, as well as continued excellence in stock market commentary, wrought with scandal and ripe for picking. During the year we were able to launch Exodus, our market intelligence platform that is 2nd to none in the Fintech industry, one that defecates on all of the combined products of my competitors, then lights their skeletal remains on fire.
Over the past year, we’ve built a solid infrastructure, brought in some new people. We established an iBankCoin customer services department with a live 24 hr per day hotline, manned by a real person who doesn’t live in India. I pay him to just sit there and watch televsion, awaiting your calls. I have tons of new tools and ideas that will go into Exodus, all free upgrades. But most importantly, we brought back the Peanut Gallery, aka iBankCoin’s Blogger Network. I’m really excited about bringing new talent into our fold. I intend to expand the program from the current 6 bloggers to 30 within 6 months.
As you know, we just executed another website redesign, one that brings us in line with current trends, focused on mobile. Over the past month, traffic is up 50%, thanks to the new approach and design.
What to look forward to in the future?
I’m gonna continue to rain fire on all of the catamites out there, pretending to be stock market gurus. I have a brand new arsenal of weapons and I intend to use them, up until the time when I finally complete my Orbital Space Cannon (OSC) and use it to destroy whole continents in one fell swoop.
I’ve had lots of bloggers and stock pickers come through these halls throughout the years. We’ve never, ever, had better content and talent than we have now. I really mean that. The team that I’ve assembled at iBC is second to none and anyone who’s attended our investors conferences knows that to be true.
Thank you for reading and supporting the site, as its grown from nothing to the dark, insidious force it is today. Thank you for all of the people who contribute in the comments section, keeping the energy levels high. Thank you to all previous and current bloggers, giving me your passion for stocks and love for the written word. And, lastly, thank you to the fucked faces who keep this stock market ponzi-fuckhead scheme going. You’ve given me endless nights of horror and countless days of wanton enjoyment, watching humans behave very badly.
Happy 8th birthday to iBankCoin!
NOTE: I just opened a Facebook account for iBC like last month. Words cannot express how stupid I am for ignoring the world’s largest social media site. Please like it, share the content with your moron friends, and help spread our brand of propaganda.
Back in 2007, this was our introductory video, made by Danny, unveiling the new site.
Only in China. Can you imagine all of the fun a chinese version of Fred Wilson is having right now?
We conservatively estimate an average gain of ~300% after listing,” Wang wrote. “Although some companies will directly set the offering price, the pricing process is still expected to be subject to some potential restrictions such as the P/E ratio.”
Under the new IPO system, companies that sell less than 20 million new shares will be allowed to “directly” determine the offering price. That suggests IPO valuations above 23 times earnings may be allowed, though authorities still haven’t provided clarity on this point, Wang wrote.
The new rules will also abolish a requirement that investors make an advance payment when bidding for shares, which should ease the liquidity drain when new deals are priced.
“I have a problem with Berkshire’s ownership of Coke,” Ackman told an audience of about 200 people. “Coca-Cola has probably done more to create obesity, diabetes on a global basis than any other company in the world.”
“I’m never one for avoiding controversy,” Ackman told the attendees, which didn’t include Buffett or Munger. “What is Coca Cola’s business model? Coca-Cola’s business model is to displace the water that children and adults consume with sugar water.”
Ackman went too far in his critique of the company, which also sells bottled water, milk and fruit juice, Kent Landers, a spokesman for Atlanta-based Coca-Cola, said in an e-mail. “These comments are irresponsible and do not recognize the current breadth of our business,” he wrote.
“You have some of the best marketing in the world and a lot of happy skinny people drinking it in the advertising,” Ackman said. “Unlike the tobacco companies, there’s no disclaimer on the Coke saying ‘replacing the water in your diet with Coca-Cola can cause harm.’ So when Charlie was saying Valeant is a deeply immoral company I would argue that.”
So, the answer to William Albert Ackman’s problems with his wrectched VRX position is to get into a pissing match with legendary Berkshire Hathaway investor, Charlie Munger, who, by the way, is 91 years old.
I thought I was bad for kicking old men into sewer pipes; but this is brutal.
Ackman is sounding awfully thirsty these days. Perhaps Charlie should mail him a bottle of coke.
Numbers just came out, pointing to the extraordinary measures China is taking with their “command economy” to meet grwoth expectations and one has to be wow’d by the sheer stubborness and tenacity the red communist devils are taking to avoid apocalypse.
China’s government spending surged four times the pace of revenue growth in October, highlighting policy makers’ determination to meet this years’ growth target as a manufacturing and property investment slowdown weigh on the economy.
Fiscal spending jumped 36.1 percent from a year earlier to 1.35 trillion yuan ($210 billion), while fiscal revenue rose 8.7 percent to 1.44 trillion yuan, the Finance Ministry said Thursday. In the first ten months of the year, spending advanced 18.1 percent and revenue increased 7.7 percent.
China is turning to increased fiscal outlays as monetary easing, a relaxation on local government financing, and an expansion of policy banks’ capacity to lend, struggle to stabilize growth in the nation’s waning economic engines. Meantime, government revenue has been strained as companies face overcapacity, factory-gate deflation and the slowest annual economic growth in a quarter century.
“With downward economic pressure and structural tax and fee cuts, fiscal revenue will face considerable difficulties in the next two months,” the Ministry of Finance said in the statement. “As revenue growth slows, fiscal expenditure has clearly been expedited to ensure that all key spending is completed.”
Bear in mind, one doesn’t avoid the apocalypse, per se. One merely delays its eventuality.
With that in mind, I think it’s abundatly clear by these numbers that the Chinese government isn’t fucking around. Next step is to start murking people to support GDP growth, starting wars and global mayhem to keep the dream alive.
Viewing the entire landscape from above, it truly is hard to remain bearish on global markets when you see all of this effort to keep the pig eating the slop. We’re not ready to slaughter the pig yet. First, we want it to eat MOAR, get fatter, while we prepare the table for a delectable feast.
Coming from the man who told us to move to China, teach our kids mandarin, and then sell our NYC real estate to buy a fucking farm in Lancaster, PA, I’d say his advice is of the ‘fuck boy’ varietal. Pardon my ghetto street slang vernacular. I grew up in a part of Brooklyn that wasn’t gentrified and had to defend myself against savages on a daily basis.
In a recent interview with Barrons, this is what the old bow’d tie had to say.
“Right now as I look at the world, I’m not terribly optimistic. The American stock market has been in a bull market now 6½ years. In America we’ve had economic setbacks every 4 to 7 years since the beginning of the Republic and chances are we’re certainly getting closer to being due for some kind of correction, bear market even. And the next bear market is going to be worse than most of us have experienced because the debt is so much higher. You know we had a problem in 2008 because of high debt, but since then debt worldwide has gone through the roof. I mean nobody has reduced their debt, no nation has reduced its debt since 2008 – the debt has gotten higher and higher. I’m afraid that the big picture is such that we are going to have more problems in the next year or two and being long most stocks or most investments is not going to be great.”
He furthered, whilst jogging on a treadmill.
“Big problems are going to come from the U.S. essentially because it has been the American central bank which has been the most at fault. We’re the ones who started all this money printing and everybody else of course copied us, but it is the first time in recorded history that you’ve had all the major central banks printing staggering amounts of money: Japan, America, Europe, Great Britain, we’re all doing it. Having said that, you look back at previous bear markets they usually start with a small, marginal country that snowballs and the next thing you know we’re all in trouble.”
Things Jim has been doing, whilst learning to speak mandarin.
“I have been shorting U.S. junk bonds by going long the Proshares Short High Yield ( SJB ) and I’m shorting U.S. tech stocks through the ProShares Ultrashort QQQ ( QID ). I own FXI [the iShares China Large-Cap ETF] and ASHR, [the Deutsche X-trackers Harvest CSI300 ETF] as well as some based in Singapore. But the best investment might be AMP Capital China Ord (ticker: AGF.AU ) units listed in Australia, which is a closed end fund trading at a big discount. I would probably start to buy oil in a small way, energy in a small way. I own gold, but I wouldn’t buy gold at the moment. I still expect a great opportunity to buy gold in the next year or two or three. I guess I would buy agriculture with both feet, energy with a toe and watch the others. I would certainly put a fair amount of money in agriculture. It could be 10% of a portfolio.”
This man is the Benedict Arnold of our time.
According to a basket of raw material ETFs that I created inside Exodus, Jim’s favorite asset class is down 45% over the past 3 years. The deflationary vortex has eaten Jim Rogers’ brain.
I wrestled with the title of this post, since I’ve seen a lot of bad tapes. Despite being up 16% for the year, this is, by far, the worst tape I’ve ever seen, for a multitude of reasons. There are so many wild cards, cross currents, fuckery on a grande scale. It’s really hard to keep up. Bear in mind, I made all of my gains and more before the summer. Since then I’ve been spinning my wheels, getting clown-raped by Mother market.
There are no places to hide. Literally, aside from the mega cap standouts, almost every single sector has been shredded this year, even utilities.
Want to hide in REITs? Sorry, you’re fucked now because, umm, yields are going to 0.25%. There’s no way your 5% divvy can compete with that.
How about the awesome biotech/drug sector? Sorry, you’re fucked there too. See, drug companies have been taking advantage of people for the past 100 years. But since it’s an election year, they’re susceptible to political pressures and their share prices are no longer sacred cows.
Can you even dream about a scenario where retail was a safe bet? We all know the shopping mall is a centre for the deflationary vortex to chill, drink milkshakes, frappacinos, eat burritos.
You literally GET NOTHING, fucking around with this market for more than a week. Trends get broken before trades settle. The oil and gas sector, the steel sector, the copper sector, the natural gas sector, the coal sector, the motherfucking grocery stores, the solar sector, the 3-D moronic computer sector, LEDs are for the birds sector, the high end casual dining sector, the aluminum sector, even the hospital sector are black nothingness, whispers in the wind that lure people towards it for the intent and purpose of ruining them. The prices are lying to you. This is siege warfare and the Federal Reserve is outside our city with catapults, launching dead, diseased bodies, into our city–infecting its inhabitants with a zombie plague that is sure to kill us all.
NOTE: If you want to make sense of this mess, sign up for Option Addict’s 5 day iBC Conference Online. He’s one of the few people who’ve been seeing this mess and able to create art with it.
