The Dow Jones Closes at Record Highs; The Turkey Gods Have Delivered Decadence

Gravy is dripping from the chins of traders — following a bear crushing victory since Trump snatched the election. The Dow Jones is now firmly above 19k and any talk of bear market is plainly stupid, at this juncture in time. My positions, all of a personal nature, have been strewn out across the sewer floor, my guts festooned over the horns of a raging bull.

Shares of FCX have lifted by more than 50% off the lows. DB up obscene amounts, followed by CAT, ULTA and LFC — all of which I am short. My gold and bond positions have been reduced to the rack and ruined. Ironically, all of this occurred after my long advocacy for the God Emperor’s ascension into power. The very thing that I desired most ended up to be ruinous to me.

Nevertheless, my exposure is of course limited to the amount of funds that I have invested in stocks — which isn’t even remotely close to my net worth. During times like this, being on the wrong side of what has been a very clear and easy trade, I am uplifted by the fact that I no longer need to worry about the portfolios of others — having left the business almost one year ago from today. My insistence on remaining in these positions, in spite of very obvious trends suggesting that I abandon them, has nothing to do with emotional response, but instead a very strong headed and stubborn persistence from a thought process that has been concluded long ago.   For me, this is very reminiscent of December of 2007 — just before the turn. We shall see if my dire and very retarded predictions end up producing anything at all — aside from very onerous capital losses.

I have a busy day ahead, in preparation of National Feast. “The Fly” is well versed in the culinary arts and will be partaking in the preparation of a Thanksgiving meal, whereby I fully intend to give praise and thanks to all of the American Indians who never thought of gunpowder as something worth looking into, prior to the good anglo-saxon folks heading on over to establish a new empire.

Considering the market just hiked the 10yr by 65bps over the past two weeks, I’d say a 25bps in the Fed funds rate is a rather moot point now. The next question the market will need to answer is ‘when will they hike next?’

For the Fed, this is an ideal situation to be in. Although the economy blows, as evidenced by the upcoming holiday shopping season expected to be down 3.5% year over year, markets have somehow found themselves at record highs. Hiking rates into new highs is exactly what they’ve been desiring for the past year.

The Fed Funds futures are now indicating a 100% chance for a December hike. Moreover, futures are giving a 61% chance of another hike in June of 2017.

The Fed minutes came out a short while ago and were hawkish, as expected.

“Some participants noted that recent committee communications were consistent with an increase in the target range for the federal funds rate in the near term or argued that to preserve credibility, such an increase should occur at the next meeting,” the record of the Federal Open Market Committee meeting showed. Many officials said a rate rise could be appropriate “relatively soon,” data permitting, it said.

Markets seem to be entirely disinterested with anything fundamental related, gleefully gliding into national festival at record highs, rather enjoying the monstrous spike in sovereign borrowing rates that will impose itself in the form of a widening of the budget deficit and increase in the cost of any Trump proposed fiscal stimulus projects.

Next up: Black Friday.

There are so many red flags in this article, I am astounded that actual reporters who actually get paid to protect the 4th estate aren’t upset over this. Instead of coming to grips with the fact that the insidious policies of the globalist elite have failed the average western family over the past 25 years, helped by the cover up by a corrupt media, these crazy fucking lunatics are talking about regulating news on the internet, like the Chinese, in a last ditch effort to protect their positions in power.

You cannot put the genie back in the bottle, Merkel.

In a speech today, Germany’s Merkel aligned herself with the far left in her country, calling on government regulation of fake news — in order to protect the people from being maniuplated into believing multi culturalism and globalism aren’t exactly in their best interests.

Speaking in parliament for the first time since her announcement Sunday that she would seek re-election next year, Merkel cautioned that public opinion was being “manipulated” on the internet.

“Something has changed — as globalisation has marched on, (political) debate is taking place in a completely new media environment. Opinions aren’t formed the way they were 25 years ago,” she said.

“Today we have fake sites, bots, trolls — things that regenerate themselves, reinforcing opinions with certain algorithms and we have to learn to deal with them.”

Merkel, 62, said the challenge for democrats was to “reach and inspire people — we must confront this phenomenon and if necessary, regulate it.”

She said she supported initiatives by her right-left coalition government to crack down on “hate speech” on social media in the face of what she said were “concerns about the stability of our familiar order”.

“Populism and political extremes are growing in Western democracies,” she warned.

Last week, Google and Facebook moved to cut off ad revenue to bogus news sites after a US election campaign in which the global misinformation industry may have influenced the outcome of the vote.

But media watchers say more is needed to stamp out a powerful phenomenon seen by some experts as a threat to democracy itself.

But she is facing a strong challenge from a resurgent rightwing populist party, Alternative for Germany (AfD), which has her liberal refugee and migration policy in its crosshairs.

So let’s imagine they get their way and are able to appoint czars who run large government run bureaus to regulate news, like they do in China. I’d imagine, like in China, websites would be required to attain a license to publish news. Anonymity would be disallowed. Mediocre government employees would pass judgement upon every single post and comment that you make online and ‘social scores’ will be issued, like in China, which would be equally as important as credit scores. If your social score dropped too low, then your license would be revoked, website shut down, and you’d face possible imprisonment and/or fines.

Since this new bureau would cost a fortune to run, employing thousands of good, loyal, public servants to do the bidding of the globalist scum, website owners would be required to pay hefty annual fees and would need to register in every country they wanted their site seen. In other words, iBankCoin could only be seen in counties where it had an accredited license, fully paid and active.

Is this the type of world you want to live in?

Attention liberals: take control of your party, else social misfits like the man pretending to be a part of society below will preside over the death of good and decent liberals.

The incessant race baiting by the extreme left, who are trying to control language, has failed. The only problem for the people who work at CNN, and those belonging to their cadre of ideologues who are hell bent on destroying the culture of a free and open society, is the fact that the echo chamber isn’t resonating any new ideas or permitting realism to infect their bubblelicious lives.

Nothing about drain the swamp is racist. As a matter of fact, it infers an end to government corruption and scandal. To associate it to white supremacists is no different from saying terrorists use the phrase ‘good morning’, therefore, if you use that phrase you’re associating with terrorists.

Hell-fucking-oh.

WATCH: Liberal geek on CNN says “drain the swamp” is a term used by racists and white nationalists.?? pic.twitter.com/UmWHQNEeYb

— Tennessee GOP (@TEN_GOP) November 23, 2016

Wake up people. Purge these idiots.

They killed three patients back in July, which led to an FDA halt of their program, only to be lifted and then result in the deaths of another two. While some might argue the patients were going to die anyway, as lymphoblastic leukemia isn’t exactly the common cold, running trials on people that consistently result in their deaths isn’t exactly progress either.

Adam Feuerstein, biotech writer at TheStreet.com, weighs in.

To folks defending $JUNO b/c CAR-T eligible cancer patients were going to die, anyway. Perhaps, but you can’t HASTEN THEIR DEATHS!

— Adam Feuerstein (@adamfeuerstein) November 23, 2016

Seems highly likely, necessary, for FDA to shut down $JUNO entirely, all CAR-T programs, until they figure out what is going wrong.

— Adam Feuerstein (@adamfeuerstein) November 23, 2016

Source: Bloomberg
The patients were part of Juno’s mid-stage “Rocket” trial to treat acute lymphoblastic leukemia, and developed cerebral edemas this week, the company said Wednesday in a statement and during a conference call. The trial is testing the drugmaker’s lead product, called JCAR015.

Acute lymphoblastic leukemia, or ALL, is an aggressive blood cancer that progresses quickly without treatment. It is the most common type of cancer in children, who are often cured, according to the National Cancer Institute. Juno was testing its therapy in patients whose cancer had come back after other treatments.

“These are obviously difficult times for us,” Chief Executive Officer Hans Bishop said on the call with investors. “Adult ALL is proving to be a difficult disease, but we really are not ready to give up on it.”

Juno’s trial has a rocky history: It was halted in July after three patients died, and then a week later was allowed to resume by U.S. regulators. Since then, 12 patients have been treated, including the two who have died. Juno’s approach involves removing a patient’s immune cells, genetically engineering them to recognize cancer cells, and reinfusing them back into the body.

Juno said it has told the Food and Drug Administration about the hold and is weighing its options. That may include testing the drug further in the disease, according to Mark Gilbert, the company’s chief medical officer.

“It’s important to say that we see a likely path forward for JCAR015 in ALL,” Gilbert said, though “it’s still too early” to be sure what it would look like.

After the trial halt in July, Juno pointed to fludarabine, a drug being given as part of the therapy, as a potential cause of the brain swelling. Cutting out fludarabine helped but wasn’t sufficient, Bishop said on the call.

“It undoubtedly contributed in the way we expected, it just hasn’t gotten us as far as we hoped it would,” he said

As you could imagine, the stock is in free fall mode.

Since its peak, JUNO has shed more than $6b in market cap. Interestingly, other Car-t plays, KITE, BLCM, BLUE, aren’t doing to badly today, all things considered. As a matter of fact, BLUE is higher on the day.

UPDATE: German Bunds reversed earlier losses. Yields are now down 2bps to 0.257%.

Happy Thanksgiving eve. This is the day of the rope for Dollar bears, as demand for the greenback soars to new highs — sending shockwaves throughout credit markets. The euro is trading with a 105 handle against the dollar, off by 0.7%.

German bund yields are rising again, in addition to the rest of Europe.

U.S. 10yr is officially in blowout territory, rising from 1.75% to almost 2.40% since election night. Somehow investors have ignored the deleterious affects this rise in borrowing costs will have on the economy. Instead, the financial media has been fixated on an alleged inflation that is going to rip through the economy, like a miracle, thanks to Trump’s fiscal plans. The only problem with that train of thought is said plans will be wholly dependent on cheap credit, which is getting more expensive with every passing day.

Gold is down more than 2% — absolutely brutalized thanks to dollar strength.

Subsequently, gold stocks are off by more than 5%. It’s truly the day of the rope for them.

Tech stocks are resuming their post Trump win weakness.

Markets are somewhat benign to this whirlwind in the credit markets, led by the dollar. Eventually, this will mean something — especially when the Trump administration attempts to borrow a trillion dollars for new roads and tunnels.

One of the largest digital ad service agencies in the world, AppNexus, has kicked one of the most visited websites in the world, Breitbart.com, down an idle sewer drain — for violating hate speech rules and for being news of the faux varietal.

A shill for the company, Josh Zietz, said Breitbart violated a strict policy of inciting violence. This, of course, is butthurt cuckery at its finest. Breitbart is a lot of things — but inciting violence isn’t one of them.

“We did a human audit of Breitbart and determined there were enough articles and headlines that cross that line, using either coded or overt language,” he said.

In other words, in their opinion, some of the titles used by Breitbart might’ve been code words for calls to violence. Very intriguing stuff.

Zeitz insisted that the ban and pursuit to demonetize Breitbart’s efforts had nothing to do with the recent fake news hysteria, a struggle that the cuckolds at Facebook and Google are in the process of tackling. Instead, it was all about VIOLENCE, the type of revolt that caused millions of people to head out to the polls and remove the most corrupt candidate for President in the history of the United States from contention, much to the chagrin of the ad-losers at AppNexus.

“This blacklist was solely about hate speech violation,” fucked face said.

The ban will most certainly have an effect on Breitbart’s bottom line. It’s worth noting, AppNexus is backed by Microsoft, News Corp and WPP — second only to Google in digital ad services.

I’m sure it’s all just a coincidence that AppNexus felt they had to take action now, AFTER the tsunami of tears from melting snowflakes — emanating from the broken and disheveled faces of the Hillary Clinton cadre of elite, walking sticks —  demanding that action be taken. They couldn’t stand the fact they finished second and weren’t given a consolation prize — instead told to fuck off and to go home. Now their minions are scouring the internet, care-trolling like never before, out to stop hate speech and FAKE NEWS, which, incidentally, resides solely in the ‘alt-right’ genre of news and information.

The suicide of the west is at hand and its epicenter is in nazi Germany.

A German court ruled in favor of a Sharia community police force — unsanctioned by local police — that takes it upon themselves to patrol their city to tell people to fuck off and to stop drinking, gambling or maybe permitting their wives to be outside, unchaperoned after dusk, or ordering female residents to cover their entire faces — because Allah said so.

This is Germans being Germans — naturally attracted to a totalitarian sect that wants to kill jews and gays, interested in world domination, just like Hitler.

The ultra-conservative Muslim group around German Salafist convert Sven Lau sparked public outrage with their vigilante patrols in the western city of Wuppertal in 2014, but prosecutors have struggled to build a case against them.

The city’s district court ruled that the seven accused members of the group did not breach a ban on political uniforms when they approached people while wearing orange vests bearing the words “Sharia Police”.

Judges said there could only be a violation of the law – originally aimed against street movements such as the early Nazi party – if the uniforms were “suggestively militant or intimidating”, a court spokesman said.

In this case, they found that the vests were not threatening and noted that one witness said he thought the men were part of a bachelor party.

The same court had already thrown out the case last year, but was overruled on appeal by a higher court which agreed with prosecutors that the ban on uniforms could be applied in this case.

The “sharia police” members walked the streets of Wuppertal in September 2014, telling nightclub-goers to refrain from drinking alcohol and listening to music, and arcade customers not to play games for money.

Lau, the organiser, is one of Germany’s most controversial and best known Islamist preachers. He is currently on trial in a separate case on charges of backing “a terrorist group” fighting in Syria.

So-called “sharia patrols” by sometimes violent radical young Salafists have also been seen in other European cities such as London, Copenhagen and Hamburg.

Hitler in a headscarf. Germans have no balls.

You’ll be hearing about Twittergate soon. Just know, the CEO of Twitter has fucked with the wrong sort of obsessive compulsive people — who obviously hacked into and suspended his account. Or, maybe simple Jack said something on Twitter that violated his own terms of service — leading to a self-imposed ban of the retarded nature.

Nevertheless, BIG wins come in small packages. For all of the good people from the darkest corners of the interwebs in search of vengeance against the Twitter cognoscenti, here is your Thanksgiving present.

HAHAHA @Jack Dorsey got suspended from his own platform ???

MEME MAGIC IS REAL FOLKS ? pic.twitter.com/vCb4Lbwuno

— Baked Alaska™ (@bakedalaska) November 23, 2016

UPDATE:Unfortunately, Jack’s twitter ban was short-lived — albeit diabolically delightful.

We’re living in perilous times, gentlemen. There are morons amongst us and they’re not right in the head, if you get my drift. Case in point, below is a clip of a former NY Times reporter,  during a live CNN debate versus a black Trump surrogate, using the N word, plainly, in an attempt to brandish Trump a racist. It was a magnificent display of sheer tone deafness, one that started a slow burn in the host which ended in total meltdown.

This CNN broadcast had all of the perfect ingredients to cause a well meaning CNN reporter to completely lose her shit. There was the caustic libtard using the N word. Then there was the soft spoken and eloquent black American Trump supporter trying to discuss racial unity at Breitbart and the Trump administration. Then finally, after a 5 minute conversation about race, the caustic libtard tossed another race laden grenade at the nice black man — causing the CNN host to end the debate and cry.

Behold cuckery at its finest.