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
18,706 Blog Posts

PANIC

Crash mode sequence initiated. This is the part when everyone gets sold on the idea that we really are gonna crash — because the new, oh, it’s so damned bad.

20% cash, lamenting a little for buying retail earlier today. Mistakes will be made, and often, in tapes like this.

Maxine Waters is going to be in charge of bank oversight. She’s a damned idiot. Trump’s trade war. Slowing growth in EM. Dollar. Crashing oil. Parabolic natural gas. Bitcoin is dead.

This is 2018.

Pray for warmer climes.

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12 comments

  1. bronze28

    fwiw and not to be taken too literally in this market but 61.8% pullback from recent low to high is 2684;

    damm this is bad.

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  2. tha pirate

    All ye leftist IDIOTS who hated Trump because of his personality & orange face (rather than judging him only by his policies) – are ye happy now laddies? Enjoy this woman in charge of bank oversight along with the rest of the Socialist-Islamist Dems who are coming fer ye ducats.

    What I can never understand is if rich leftists want to raise taxes & redistribute money, how come it is never their OWN money they want to re-distribute? Funny also how all thjese leftist in Congress while earning 6 figures have net worths in the tens or even hundreds of MILLIONS. Wonder how that happened laddies? Also funny to watch the financial leftist media now ‘worry’ about Rep Waters after they cheerleaded the Dems and demonized Trump.

    Ye reap what ye sow laddies. Now I go back to reading ‘Animal Farm’ by Orwell. Arrrrrr…

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    • numbersgame

      There are many rich guys (WArren Buffet comes to mind) that say their taxes should be higher. Pelosi is a 1%, so any tax increase will hit her harder than it ill hit you.

      Anyway, redistribution has been a 1% strategy for decades, just more subtle. The 1% doesn’t pay their fair share. Two examples:
      1) Why is 2% the infaltion target isntead of 0.5%? Wage earners are helped by defaltion, asset owners are hurt by it.
      2) Why does the cost basis reset when you inherit assets?
      Jack buys $1,000,000 of stock. It rises to $10,000,000
      Jack dies, and Jill inherits the $10M in stock. Inheritance tax:$0
      Jill immediately sells stock. Capital gains tax: $0

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      • ferd

        Read Number’s post Pirate …reflect on it.

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      • tha pirate

        So what’s stopping Mr. Buffet from voluntarily paying MORE than what he owes laddy? -All the rest of the billionaire Dems for that matter as well? The hypocrisy gentlemen, is that they do EVERYTHING possible with the best accountants they can find, to pay as LITTLE as possible.

        No one has a right to someone else’s money – we should all play by the same capitalist rules in the world’s greatest capitalist nation in history

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        • tha pirate

          Enjoy your Socialist Dems lefties – you ASKED for em, you GOT em. Arrrrr…..

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    • ferd

      Trump is a disaster because of things that are seldom, or never, talked about on MSM. We have team Fox-MSM against team ABC/NBC/PBS/CBS/NYT/WP-MSM. I’m guessing you cheer for team Fox-MSM.

      The powers that run the place are delighted by you and others being distracted.

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  3. soupbone

    Maxine Waters; why the same faces over and over? Wtf that will solve for the good? Why the low turnover?

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  4. bennyhill

    Just sold my QID for a nice gain, reloading on the bounce.

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  5. soupbone

    25% tariffs on all things Chinese will stop Maxine’s brain out. And fuck the US in a really quick way. Surely that is an issue worth discussion?

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  6. cancel19

    The banks must have a plan if they let a mutant dirty butthole with a dress rule over them.

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    • numbersgame

      Here’s a question people should ask themselves:
      Do you have biases against people of particular races/gender/sexualorientation/ etc.?
      One good way of determing that is if you use different types of insults for different groups of people.

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