According to the Government, inflation rose by a tepid 0.2% in March, not even close to giving a fuck. God willing, oil will march its way up to $400 per barrel, effectively poleaxing all of those poor fuckers who clog up NYC city streets with their bullshit “shitmobiles.”
Think about it, dear Sirs.
When gasoline is “vasolined” up to $30 per gallon, it will cost like 600+ bucks to filler up. This, as you know, will eliminate traffic and leave only the rich in cars. There will be no more delays during the morning commute to work. Clear sailing.
Plus, think about this pal, our steel manufacturers will no longer have to waste their time sending product to the losers at [[GM]]. They can just put that stuff on a ship and deliver it to China. Without a doubt, [[DRYS]] will trade up on that news.
Looking at some of the news, I am pleased to see the dollar at a record low versus the euro, since most of my savings is in gold/euros. The sharp, precipitous “death fall” of the dollar is good for U.S. corporations, like [[KO]] and [[CL]]. Fuck all of those people who want to “see Paris for the first time.”
[[BLK]] missed earnings, but who cares? [[JPM]] beat and warned of more credit problems. However, Mr. Dimon is just talking shit, so that he can buy [[MS]] or [[MER]] for 2 dollars per share. [[WFC]] smashed estimates and have demonstrated to Wall Street that they are true pimps, despite the fact that their capital reserves stand at a paltry 7.3%. [[INTC]] fucking ripped the head off of their guidance, which, inadvertently, was lowered a month ago. Well done Sirs at Intel. You’ve mastered the ol’ “fuck you analyst, you’re dead” routine.It’s a fascinating thing with INTC. Lots of poor folk are without rice, due to high prices. Apparently, those same people are forgoing food, in order to stockpile INTC chips. That is very shrewd thinking on their behalf.
After all, the Chinese are known for thinking 100-1,000 years in advance, unlike us backward Americans—who only think about what’s for lunch.
See, the Chinese are thinking “hey, forget about buying rice and feeding the family. Let’s just buy these chips from INTC. After we die, these chips will continue to increase in value so that future generations may be able to afford $1,000 per bag of rice.”
Regular JP Morgans they are. Or may I say, “regular Jamie Dimons.”
Finally, I expect to see the market take the fuck off on the 11.9% decline in housing starts newz [sic]. This, as you well know, is good news for everyone, except the poor schmucks who build houses for a living. What’s wrong with those idiots? Hasn’t anyone else told Mr. Joey Bag-o-Hammers that all available steel, concrete and construction equipment needs to be preserved here, so that we may supply our friends in China and India?
Geez.
Long [[DGP]]
NOTE: China reported inflation rose by 8.3% in March, up from 6.6% in February. And, they announced they will raise the reserve requirements at their banks to 16%, from 15.5%—which is a far cry from WFC‘s 7.3%. All of this is phenomenal newz [sic].
What is this “good news Wednesday” or something?
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We need to set up a Jack Welch “deathwatch” somewhere on this site… Jeremy!
-DT
jpm profit down by 50%
DT-That is fucking hilarious.
That dude looks like he eats Lobster and Butter for breakfast.
USA USA USA
Really, I don’t usually go out of my way to compliment your posts, but this one was excellent, so I am.
Well done.
Fly:
0.2% is the core rate. Remember, the government doesn’t think that food and energy costs are important.
CPI was up 0.3%
SLV up $7.55 in pre-market trading.
Long SLV and GLD.
Last night at the supermarket, my comment was that next time we were going to have to bring a gold coin to buy some steaks. Between gas prices and food prices I feel like I’m living in England again.
so your not the the dismayed mets fan who jump to his death after last nights game….
Fucking Hilarious!
We don’t eat and drive cars anymore, so what’s the fuss all about?
I’m thinking DRYS is gonna start shipping boatloads of American pesos to China, what the hell, just send it over in bulk.
China is still tied to the US dollar. Them announcing that much inflation, says that from that 8% inflation, at least 2% was due to the inflating dollar.
Bunch of liers, inflation is at least 2, probably 2.5% for March. I guess they need another excuse to cut rates.
WE can ship our worthless dollars to Europe, so that they can recycle the paper to make euros.
Another future win.
Really, I don’t usually go out of my way to compliment your posts despite their brilliance, but since Jake did, I won’t.
However, reality will be taking the day off. I warned you. It does that from time to time.
But I’ll be shorting the close if we get a trend day to the upside. Food/gas riots, tent cities, unemployment heading to 6% & soup lines can only juice the markets so much.
Jack Welch is still scary 7 years out of GE.
Immelt must have been shitting his Depends after Jack congratulated him for destroying Jack’s immaculate forecasting record. “Kick in the ass”. Immelt would have been summarily fired by Jack if he was the div head who screwed up the forecast and made Jack look bad.
Anyone know this guy?
Fly,
That was one of the best fucking posts I have seen from you. Now, let’s get drunk, buy random stocks, and ask the Pope for forgiveness.
by the way… i hate to say it, but i think SMN is now dead… ag and materials are ripping
I think that was poor form of Jack Welch to publicly lambaste Immelt like that. Should have been done privately.
Insightful post and excellent questions being raised. I’m thinking Turkey Club today.
TAN the new solar ETF just listed yesterday already has close to 300,000 shares traded.
Cool (no pun intended) symbol.
Random thought:
Bloomberg TV is better than CNBC, in case anyone hadn’t realized.
Think about…inflation is of no concern to the super wealthy. During hyper inflation scenarios your $100 million networth is still worth $25 – $40 million. So its all good baby.
As long as the top 5% of the population gets by there are no worries.
Peace
Looks like its game over for the bears. They are just getting rolled on. Commodities are going up another 50% while “inflation” goes to zero.
Ahh…my dear friend the “Fly”; you just don’t get it do you?
So simple minded; reminds me of a chimp I saw on the animal planet kicking back, like he already done figure out the jungle, only to be eaten by a fucking panther three seconds later;
God bless your soul, sir.
The market is a discounting mechanism…so we’re seeing shit from like 10 years from now; Inflation is a lagging indicator, and CORE CPI is still fine; plus the Fed will start easing and the housing problem is over-stated…remember its election year, those fuckers on the news are clearly anti-bush and making shit worse than it seems.
The financial firms will have WRITE UPS of $20 billions or so, and I am hearing a CORPORATE TAX CUTS whispers.
Let’s see, $115 oil is good because it’s showing DEMAND… Gold is shooting higher, cause the Chinese are starting to wear Rolexes, gold chains and such…showing demand.
About the food riots…clearly…I mean anybody can see this…they are NOT food riots…they are just protesting for TIBET’s freedom.
Welch was the master of earnings manipulation. He was smart to leave when he did.
Ag shorts getting taken to the Woodshedder.
How can you bet against Ag with global food riots/food shortages? Egregious.
That said, they make yet another short term blow off top today.
Re: Boomer’s vid:
Tricia Walsh-Smith can be watched on YouTube lashing out at her husband, Broadway executive Philip Smith, in a teary and furious clip that has been viewed more than 150,000 times.
Local 6 reported that lawyers can’t think of another case like Smith’s and are calling it a “scary, new step.”
During the video, Walsh-Smith goes through their wedding album on camera, accuses her husband of trying to evict her out of their apartment, and even makes embarrassing claims about their intimate life.
Her lawyer said she acted out of passion and is a “victim who is holding her head up,” though he wasn’t representing her when she made the video.
—-
Hard to believe that he wants to divorce her….
Minute Maid called for this nonsense, unbelievable. The turd rangers think its 05 and they are buying condos in Miami Beach.
Oil inventories dropped more than expected. I guess some people are still driving their cars.
If some people are still eating food, expect the ag stocks to continue their rally.
Oive stopped eatin’ — wha’ of it, ya bleedin’ Orangeman pig??
Fry,
How much of yo 40% gain yu gib back now?
How you showt aglicortchu stahks?
SMN biggest position? Hiralious!
We need foo in Asia. We build much needed housing and taw buildings. Dis stuff keep going up!
SMN could be going to zero! Abandon ship captain! This fucking thing could be as bad as DCR.
you should make t-shirts with citi_logo_ripoff.png
goddamn i hate POT so much
GODDAMMMMMIT >:(
This whole Intel earnings news doesn’t make sense. Increased demand for chips ? Apparently a Chinese company was looking to order potatoe chips and ended up calling Intel and ordered 5 million chips. Due to the misunderstanding here, Intel thinks that the world demand for chips is increasing when its actually demand for potatoe chips thats increasing. All this will be sorted out in the next week or so and the market will be 5% lower.
What happens first:
WMT- $60
SMN- $29
GRMN- $39
????
The Fly is getting hosed on SMN.
Dennis Kneale says the worst is over!!! He says BUY BUY BUY!
Holy shit ! I better cover every short & get 200% net long!
If he’s wrong, will he bail us out?
The Fly is Dead!
Inflation
All bad news is priced in. Time to get heavily levered on SPY calls and high beta names!
I guess I am the only person on the planet who is cutting back on gasoline use. It’s lonely being a fool.
TraderCaddy: The $4 stuff runs better in my car.
All this talk about $4 gas is making me hyper.
Interesting article, poke holes in it:
http://seekingalpha.com/article/72516-how-to-solve-the-housing-crisis-tomorrow
MON secondary
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=tm&bn=11865&tid=24288&mid=24288&tof=2&frt=2
$4.00 gas would be okay for the public except wages are not keeping up with the cost of fuel and food. If wages do catch up we will then have a return of the ’70s.
stating the obvious here…
i was surprised to find out, after reading the FT this weekend, that my wife and i are not middle class, but rather “upper class”, based upon our income
but i gotta tell ya, every time i go to the grocery store or the gas station, i cause a disturbance because i can not control my incessant screaming of “JESUS FUCKING CHRIST”
if i am in the “upper class”, i cant imagine what mr. donuts and family are going thru
nullpointer: I could not agree more. How the fuck am I upper class. At best I would consider myself lower middle class. Christ all mighty when did 6 figures mean top tier. FUCK FUCK FUCK.
If your getting one of those gay stimulus checks back from the IRS than your middle class like me.
I have a couple of friends who let me know ever so subtlety that they are not getting one.
Fly,
Interesting Ranting!!! Not sure if you are pissed off because of:
A.> Your loses are growing exponentially.
B.> Your Home Improvements are bankrupting your cheesy lifestyle.
C.> You’re using of this website to double-speak.
D.> All of the above.
Good day to buy options, VIX is way down again.
mr kc-
no, we are not getting the free flat screen.
null
I’m getting the full egregious sperm package of $1,800
Thats 300 shares of S —–ODD NO?
More likely will hire some illegals to make my front yard look better than yours.
My kitchen already looks better than everyone on this thread. Thats right Fly,Shed– well maybe not Juice but shit he has Bilderburg dough.
My current theory is that the stock indexes are like an inverse ETF for the actual/perceived value of the US peso, er I mean dollar. Since the dollar is worth crap lately, the indexes, which are denominated in US dollars, must go up, somewhat like oil.
Either that, or people are stupid. Going for the Costanza trade, if it’s logical, do the opposite.
mrkcbill, I haven’t posted pics of my kitchen yet. My husband wants to finish his custom tile work before he takes the photos for me.
Some of you guys need to chill the fuck out…somethings said are really class-less shit…
Especially that SMN position…shit, I have a position there as well. Don’t kick a man when he is down…
Im calling a top at the TECH names and AGS…thats right bitch, you heard it right…
mr kc-
no doubt your front yard AND kitchen are way nicer than mine.
i am admittedly a weirdo (the nice term is eccentric i guess) that doesnt really care about $$, believe it or not. if you saw me on the street, you would wonder where my TWO bags of donuts were (much to my wifes’ dismay).
RE: my obsession with the market: its not about the $$, its about being right
when i die, everyone will be astonished at the fuckload of $$ i have amassed, and furthermore will be devastated to learn that i have given it all to charity.
BanD:
Update: “Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing”. Joke is on me.
I can’t poke a hole in the “Solve the Housing Crisis” article, because it doesn’t have enough substance to poke.
Just to give one tiny example of what I mean –
He proposes that homeowners transfer $100k of mortgage and $125k of equity to the government. Somehow, the plan is supposed to reduce the writedowns the banks have to take. But the banks have just seen the underlying asset value drop $125k, while the mortgage amount has fallen only $100k.
RE: my obsession with the market: its not about the $$, its about being right
I think you’ve summed it up right there. Great comment. That need to be right drives the whole thing from business management sports management- investing.. you name it.
Null go buy some egregious shit— fucker…its fun.
ottnot: The man wears a bow-tie. Does that change your opinion?
big mike why don’t u guy some aga then
Bought a little SMN @ 31.66 for a scalp here. No idea why.
….
“When gasoline is “vasolined†up to $30 per gallon, it will cost like 600+ bucks to filler up. This, as you know, will eliminate traffic and leave only the rich in cars. There will be no more delays during the morning commute to work.”
I’ll be selling concrete bricks on your local overpass.
Could be for this month, look at UDN? Looks like it’s setting up for another breakout.
This month was just a consolidation period before the dollar sinks to all time lows, and gold goes through the roof.
I want to own gold here and commodities, and the shippers that ship them. So much for the dollar recovering, price of oil will get worse before it gets better. It won’t be until it gets so important that it’s the issue everyone’s talking about. Politicians on both sides will have to come up with a solution. Economy will be a bigger issue than the war, afterall the largest part of the population is babyboomers that won’t have to worry about going to war, and they’re more concerned about their money being worthless when they retire.
When People talk about gold 2000, or 2500, I think, maybe, but that could just be the tip of the iceberg. The real move is going to come when this baby boomer generation starts saying “okay, I’ve retired, time to take out my nestegg! Hell, it could go to $5000 if hyperinflation occurs. The government can’t afford dirt when you consider their obligations towards pension and social security, and the inflating of the dollar will only force baby boomers to sit inside a home and die, and that’s when real estate really collapses. Before then, we’ll need to do our part in ensuring population growth, so in 20 years when the babyboomers die, theres another boom of kids to take their place. So get to work… grab a wife, a mistriss, whatever, only YOU can prevent population decay.
Sure, bears can come up with a legitmate reason why the market will collapse, and why everythings gone awry, and how the ratecuts hide the true picture of how bad it’s been since 2000. But the real reason is all the money that’s coming out of the market, and all the money that the governments going to pay. Sure, afterwards, the government won’t have to pay it, and people will inherit wealth, and it might recover, but it’s not like all the seniors are going to drop at the same age, so it’ll most likely be a pretty long term decline.
If you want a long term play, buy gold, silver, and short the dollar. You could go with SRS too, although if the market is flooded with too many dollars, and it’s too easy to buy a house it could rally somewhere between it’s current decline it’s in, and it’s decline after the oldmen kick the bucket.