LET’S RIP THIS BANDAID OFF!!!

Every one who is discussing the “debt ceiling crisis to come” says: “well, congress isn’t going to allow the country to default on its debt. That’s just crazy.” My question to these fine chaps is: why are you so sure and what has congress ever done to make you feel confident? We’re going full nutso and very soon.

The only time these bozos act fast is when they want to bomb a country.

The GOP is embedded in a belief system that says “TARP was bad. Bailouts are evil. Government is the devil. And, we should treat the treasury like a check-book and balance it.” This is the mind-set of an idiot 10 year old school boy.

There’s also a boy cried wolf aspect to these whole “crisis to come”, in that the sequestration “crisis” proved to be nonsense. Many of our GOP leaders do not believe in mathematics and will joyfully place the fate of the country into the Lord’s hands.

In other news, the YEN is +0.6% and TLT is lifting higher, classic “risk-off” behavior. The only oddity is the rise in yields of 1 mo government bills–based upon the wild eyed idea that the government might not make good on their short term interest payments.

Oh, the BDI is up again this morning, +31 to 2115. DRYS is getting hammered this morning because they will be issuing new shares to raise capital. Remember, I told you this was a real danger for many dry bulk stocks, which is why I am long the one who will not issue new shares–because they don’t need to. Ultimately, this is healthy for the industry and the long term prospects are looking good.

S&P futures are sharply lower because people are finally starting to realize how insanely dysfunctional the US government is, in regard to operating an economy. There isn’t any need to dwell on something that I deem to be a given, so I’ll just say it: we’re going to default. Now that doesn’t ensure losses. As a matter of fact, I wouldn’t be surprised if the market went +400 on the exact day of default, simply because the market is retarded like that.

10/17 is Zerohedge day, the day when the United Steaks of American shows the world how bad its representatives are, something its citizens have known for a long, long time.

I step into tomorrow with a 25% cash position, prepared to leverage up to 150% on meaningful dip. I was going to drop a million dollars into VXX, but you jackasses ruined it for me, talked me out of making a smart decision because you’re just jealous of my grandeur.

The low probability bet is US default–because it makes zero sense. That’s exactly why it’s going to happen.

GET READY TO DEFAULT, SUCKERS.

The Option Addict is absolutely slaying the market. I tip my top hat to all of his minions who’ve joined his service and made triple digit returns. HOWEVER, and I am sure he’d agree with me when I say: you’re all behaving like spoiled brats, filled with hedonistic hubris.

I don’t mean to single any one out, but that’s exactly what I intend to do. You speak of “not being satisfied with 20-30% returns anymore” and that if “the gains are less than triple digits, they’re simply not worth my while.” Pardon the paraphrasing; it sounds better when I write it.

Do yourselves a favour and check that happiness at the door. Very soon you will be sucking from the tail pipe of an oldsmobile, as Congress tosses you under it. Do not, for a second, believe that they are responsible stewards with our money.

Being 75% invested without hedges, I stand to lose coin, just like you. The only difference is, I am prepared for that eventuality and will not draw down 20-90% on the next leg lower–if it even happens.

I bought SUNE because it’s heading for new highs.

NOTE: I never said I wasn’t ‘crazy.’

If you love Obama, Harry Reid, and the rest of the gang, you’re probably warming to the idea of buying this market. You figure there isn’t any way the GOP can withstand the Godship of the democratic party, led by Jesus himself, and thereby caving into the messiahs demands–sooner rather than later. However, I believe you underestimate the true crazy that is embedded at the heart of the new religion based, gold bug, wing of the republican party.

No longer are the republicans wearing checkered pants on the golf course, working diligently to keep out the riff-raff from their respected country clubs. These new guys are only interested in the default of the US treasury. They feel, and have always felt, “we’re spending recklessly” and it’s “best to take our medicine now than later on” when it might taste bad, filled with sugar and all sort of fillers. The GOP wants you to die from cancer right now and do not feel the need to bother with expensive chemo-therapy treatment.

The faster you die, the quicker you will get to meet Jesus, then be reincarnated, back to living a sin-less life of austere conservatism, purchasing wares with coins made from 24k gold.

THAT’S WHAT YOU’RE DEALING WITH NOW. Good luck.

UPDATE:

You suckers better start getting used to this. The BDI has bottomed and Wall St is completely oblivious to the fact that the shippers are the best engine for year over year growth in the market right now.

They’re gonna learn the hard way after earnings are released.

Top pick: BALT

I don’t mean to brag, but I’m gonna do so anyway.

Who’s the guy with a 33% cash position with his largest positions up for the day?

BALT and YELP don’t care. They urinate in your face from atop a skyscraper. I told you to move sideways and out of that ANGI, done with the female escort after taking her for 12%. Did you listen to me? Of course not.

Instead, you pepper me with questions on twitter and here. Look here pal, buzz off. “The Fly” doesn’t have time for the likes of you. He’s building empires, plotting to buy his competitors in bankruptcy.

I’m gonna buy the blood, your blood. I sit here waiting, patiently, like a vampire in a blood bank.

Disclosure: I made 0.3% today.
http://www.youtube.com/watch?v=XBupdeRZx48

Give this man a third term.

This is a total train wreck. I am tempted to buy a million dollars worth of VXX. Someone out there who cares about the mental health of Le Fly, please talk me out of it. But, seriously, doesn’t it look good?

This is the perfect scenario for volatility. No one believes congress will willingly crush the spirits and souls of investors, via a self inflicted/catastrophic default. HOWEVER, that’s exactly what they’re going to do, AND MORE.

When it happens, everyone is going to freak out, running around like chickens without heads. At that juncture in time, “The Fly” will be snacking on protein, drinking creatine shakes and generally chuckling at the drama.

So far, during my lifespan, I’ve learned to trust no one, not even Santa Claus. If you’re buying stocks here, you are trusting congress to act rationally. Now tell me, is that a rational bet on your behalf?

All that aside, BALT looks good, as well as NTE and CLSN (no position in the last two).

Oh, by the way, MODN announced they will begin firing people. That is exactly what they need to do, in order to preserve value for shareholders. With a smaller headcount, their burn will be less; hence, their net cash position, which is now $4.50 per share, is even more attractive.

VXX tits for Halloween fools. You know the routine.