iBankCoin
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.
Joined Nov 10, 2007
23,441 Blog Posts

Another Big Win For Corrupt Government

A corrupt judge just ruled that it is illegal to uphold the law in Arizona. The O’bama administration has no idea what it just started. The majority of people view illegal Mexicans worse than Al Qaeda, mainly because most Americans have the IQ of a llama. However, it goes without saying, if you are going to run a fucking country, it needs laws. Without the law being enforced, the law in an ass. Going with that train of thought, this country, as a whole, sans states who want to uphold the immigration laws, is an ass.

In my opinion, this should have little to no bearing on the markets. If anything, it increases the chances of big GOP wins this fall, which will undoubtedly buoy the market, if only for a couple days.

Nevertheless, I am disgusted by the policies and inaction of the Federal government. There is no one there to represent the will of the people. That includes BOTH SIDES OF THE AISLE. I know some of you will point to one or two “good guys”; but they have no power. The power in consolidated into one train of thought: milk the people.

As for the markets: very boring. It’s never a good idea to short a boring market. I want you to understand, despite my gloomy forecast, I still hold a plethora of longs and even more cash. I have built up a colossal cash position (40%), so that I might endeavor to buy your margin liquidations, yet again. As absolute as my convictions may be regarding this market coming down, it is NEVER easy riding out tops, or bottoms for that matter. I loathe the process.

Keep your beady little eyes on the Yen, for it is your master.

If you enjoy the content at iBankCoin, please follow us on Twitter

57 comments

  1. MOOBS

    BASIL MARCEAUX FOR PRESIDENTE!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Seraphos1

      Basil is implicitly a supporter of immgrants, his policies will be a boon to the landscaping industry.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Ecchymosis

      Sounds foreign – do we have his birth certificate??

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  2. Seraphos1

    Eventually though something has to be done about the average American’s retarded view on immigrants illegal or otherwise.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Fly

      I agree with that assertion. And, I actually prefer the hardworking culture of the Mexicans here. They put Americans to shame. Their kids will be Americanized and assimilate into society. That’s what America is all about. However, the border states are fucking going broke because of this issue. The Federal Govt should not impose their will on the states, especially if said state is upholding the law.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Seraphos1

        Not knowledgable enough regarding legal issues to comment on the law itself, but if those states are going broke because they are building giant walls or have welfare-state systems that are being naturally abused then I frankly have little sympathy for them.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • The Fly

          Walls don’t cost a lot. Try education and medical budgets

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • weirdo jay

            Carlos Mencia (probably “borrowing” this joke from someone else as he does) said… why not forget the wall, and just build a giant wallmart. The Mexicans still get to work in back, thaat way they won’t need to cross the border. Plus, wallmart’s productivity will skyrocket, and the wall will pay for itself!

            • 0
            • 0
            • 0 Deem this to be "Fake News"
    • duck

      American’s prefer their immigrants to have PHDs and MDs.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Jakegint

        Who wouldn’t?

        In the meantime, a strong desire to provide for one’s family has worked for us for well over 300 years now….

        ___________

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  3. enraged beaver

    All hail canada. thats were my money is.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. toptick114

    Exceptional!!

    Indeed.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. SteveTheNeighbor
    SteveTheNeighbor

    Hello Neighbor Fly. Can you please ask the illegal gardeners living in the shed behind your house to please tone it down. I hear celebratory salsa music through my walls (sounds like Ricky Martin and Jose Jose- are your gardeners gay? ) and a lot of firecrackers going off near Mrs. Steve’s marigold garden. Also please tell them to stop throwing the beer bottles up on my roof and then shooting at them as they roll off and onto the ground.
    Thank you.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Sidney Carton Braveflaps
    Sidney Carton Braveflaps

    Milk the llamas.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Cicarelli

    What’s the IQ of a llama?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. fubsy_cooter

    Hey Fly,

    Provocativ e post, as always. I agree on most points, but don’t think Amers feel worse toward Mex than Al Qaeda. Most, like you, have some respect for their hard working culture. i have never seen a Mexican beg. They just don;t do it. They ask for work, and when you hire them, they work their ass off…again we’re in agreement. So, perhaps the problem is the lazy ass competition of entitled Amers who believe it below them to flip burgers or wash dishes for a living. I mean, who would you rather hire, a pimply asses teenager who is thinking about aqueezing the prom queen’s tits all day, or a Mexican parent who will work 16 hours to support their seven kids? Let’s face it, we’re in the collapse stage and solutions will come much slower than problems. A cleansing is what we’re due, and a cleansing it will be regardless of the laws.

    Fubsy

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Fly

      From my point of view, I see more people paranoid over Mexicans crossing the border than Al Qaeda. But, the reason for that is due to the lack of Al Qaeda in their bullshit cities.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  9. omen

    of the 60% which isn’t cash, what’s the breakdown between long and short? Just curious…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. C_Farley

    So when I go to Costco I have to show my I.D.

    But someone suspected of being in this country illegally does not……..????? (Federal offense…..by the way)

    So Costco is more secure than the U.S.A????? WTF

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • weirdo jay

      lol! If the government was a business it would be in trouble.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  11. xxxHuggieBearxxx
    xxxHuggieBearxxx

    So you are still currently biased long?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. TheArtist

    RC’s 2010 stock contest now has 40 positive picks (in the +) verses 60 now negative (in the -)
    this was the other way around a few months ago.
    the new economic indicator?

    ha, carry on.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. Daymano

    El Fly es Dio

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. WSJC

    how about the promise of “transparency” w/ the new financial reform legislation, Obama and his tax evading cronies are all a bunch of lying, stealing, crooks. Blago verdict any day now, Rangel too

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. xxxHuggieBearxxx
    xxxHuggieBearxxx

    Down with all you HuggieDoubters out there claiming i was playing with Butane. These cocksuckers are running the same game on you they’ve ran each and every quarter. Soon earnings reports will be gone and all we’ll be left with are dismal econ reports.

    And I love the argument that “its a strong market that goes up in the face of bad econ numbers”….sure it is, right until the final straw gets added on top. Which one will be that straw? Dunno, but its coming.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. weirdo jay

    Countries would be better off with a code of ethics rather than laws and judges that determines whether or not something is “ethical” and to “bring justice” as THEY define it, and their rulings are looked over by other judges and voted in or out by the people… This way you would avoid having to define every minor detail, and you would avoid situations where things are “unethical but not illegal” and you would avoid situations where someone does something that only after seeing the result is made illegal because it poses a threat, while the first person who is “guilty” walks. You would have checks and balances and you wouldn’t have corruption so easily

    You have a legal system without true justice. It’s not a justice system it’s a legal system. you have thousands upon thousands of laws that no one can remember, that no one can interprit one single way.

    politically, ban all funding for campaigns including personal funding. You need to have a “final four” style election where you have candidates eliminated after various tests, speaches, etc to prove their abilities. Then you narrow down candidates until you finally have debates and vote.
    You can’t have people run “just for the heck of it” and you can’t have people run because they’re power hungry. You need it to be the duty of every citizen to due what’s best for the human race. People should be nominated or selected based upon qualifications that indicate that they are calm under pressure, can handle multiple tasks, have integrity, etc.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • DMG

      I’m not sure why, but am feeling peachy after reading this.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Jakegint

        Not one of those things stands up to scrutiny. Arbitrary judges would be a hedge against corruption?

        Really?

        And how do candidates make themselves known to the public without media, which doesn’t come very cheap these days?

        Let me guess… those judges again?

        Read this piece, it’s a perfect rebuttal.

        _______

        _______

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  17. drummerboy

    there’s a difference between stealing your way into a country, than working your way into a citizen. dont even get me fucking started about the implied, or the unintended consequences. both sides of the aisle want an explosion of wet backs,gm went bankrupt just for the sole purpose of getting out from underneath the unions that were fucking them to death, and thats without the complimentary cigarette after the fucking. the more they come across the border,the more all the folks that made 35k-70k will have to take a huge cut in there wages. thats the way the country is being taken. all because we cant compete with chinese labor costs. so…….how many of you all have high hopes for your offspring………they will be the ones sorely effected………anybody got a towel, consuelo swimming over, she giving birth.but jose, he’s nowhere to be found……………yea, alot of american sheeple are fucking clueless. the problem is with their country ,cant do/or wont do for their own nationals. come here take american money,build a home 4 times the size of your home here in the states, cause its 5 times cheaper,then live in it when its frio out side……… so tell me…….who’s got /or needs the fucking sympathy card here…………… fuck you.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. Fly'sIllegalGardeners
    Fly'sIllegalGardeners

    Senor Fly. We now demand air conditioning in our shed behind your house, access to your refrigerator, two cases a week of Dos Equos Cerveza, and tickets to the Mets games. If you do not comply we will be talking to El Presidente Obama.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Jakegint

      And, if it is not too much trouble, please bring by “The Most Interesting Man in the World,” por favor.

      __________

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  19. C_Farley

    Why the bias towards the poor hard working mexicans that don’t plan on learning our language.

    Last I checked they still stop boats filled with illegals from tiiwan, china, philippines, cuba, indonesia…ect.

    They work just as hard as some the hard working mexicant’s but they get stopped from coming here illeagally, why the bias towards mexican’ts?

    It should be a fair playing field for all countries to immigrate illeagally….why the fuck Not?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Fly Leech

      Exactly! Bring over the Chinese by the boatload. Why pay $10 / hr when we can get a Chinese farmworker for 5?

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • C_Farley

        Most of those other countries actually want to assimilate and have learned english…..a lot are well educated as well. Again why the bias…..implies we only want low educated slave type workers to enter illegally.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  20. The_Real_Hmmm

    I mentioned this a few weeks ago but the United Farm Workers have thrown down the gauntlet and offered farming jobs to any American who wants it. They even titled the campaign “Take Our Jobs.” (See takeourjobs.org).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • C_Farley

      How about landscaping, construction and building/roofing jobs? Those used to be good jobs and plenty of americans would take those jobs???

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  21. Apocalypse Now

    If Al Qaeda entered the country illegally, the enemy combatant would be an illegal immigrant. How can you tell a Mexican illegal immigrant from an enemy combatant? The true answer is that you can’t since the distinguishing factor is a religious mentality or belief system.

    Either terrorism is a real threat and we should protect the borders, or it is not. This is supreme logic and can not be argued with. You can emotionally equivocate, but it is sound. Now, if you could determine the religious status as Roman Catholic versus Muslim Extremist, then one could discriminate or give preference to one group of illegal immigrants over another, but how do you actually enforce that and should you on the basis of religion? Globalists agenda 101 – no borders vs Nationalist americans.

    I think the market is being supported by unseen forces at 10.5K on the dow, we could even rally into the close and remember Obama will be on the View tomorrow. With options expiration and a roll coming up the market could move flat and then drop dramatically on Friday (it has been flipping between significant moves up and down on options expiration).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • C_Farley

      They have found islamic prayer rugs along some of the border crossings….what does that tell you?

      This administration has forbid our border patrol from annotating “OTM” when they process illegals…..”Other Than Mexican” so does our government not want Americans to know how many
      Non-Mexicans are actually entering our country illegally? Just wait till shoping malls start blowing up?

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Po Pimp

      With options expiration and a roll coming up the market could move flat and then drop dramatically on Friday

      Aren’t you about two weeks late on that options expiration thing?

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  22. casque

    Hey Fly; If that is so, can u tell me the IQ of your President??
    I guess you should keep your comments on a technical research tone.
    How many Countries do you know? as many as Obama or Bush before becoming
    Presidents? Culture my friend is learn in Traveling and in knowing another Peoples way of life.
    So let’s keep it simple. stay in your subject.

    Casque

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. Sachmo

    Enforcing border patrol is one thing. Pulling over anyone who looks “foreign” is something else altogether. The Arizona law was bullshit and had to go. Completely unconstitutional.

    • 0
    • 0
    • 0 Deem this to be "Fake News"