Rates are collapsing this morning, with the 10yr touching down at 1.62%. Futures are -300 and gold is soaring above $1,500. While this might seem like an ordinary decline, it is anything but ordinary.
Since 2008, we’ve depended on the Federal Reserve to bail us out of jams. Whether you agree with the policies or not doesn’t matter. The reality is, the S&P bottomed at 666 in 2009 and we’ve been going up since then — mainly because of Fed policies to buttress markets. With Trump demanding the Fed acquiesce to his demands under the menace of being fired, the dynamic of the Fed being a holy and sanctimonious organization whose sole purpose is to be smart and place a bid in markets is now gone. Finished. They’ve been compromised and because of that, rendered persona non grata.
What sort of market will this be with the Fed being a non-player, simply abiding by a rank amateur Trump by slashing rates at record highs and then watching in horror as markets reel lower thanks to an acceleration of the US-China trade war?
Here’s Trump this morning, rendering the Fed even more useless and pathetic.
“Three more Central Banks cut rates.” Our problem is not China – We are stronger than ever, money is pouring into the U.S. while China is losing companies by the thousands to other countries, and their currency is under siege – Our problem is a Federal Reserve that is too…..
— Donald J. Trump (@realDonaldTrump) August 7, 2019
….terrible thing to watch, especially when things could be taken care of sooo easily. We will WIN anyway, but it would be much easier if the Fed understood, which they don’t, that we are competing against other countries, all of whom want to do well at our expense!
— Donald J. Trump (@realDonaldTrump) August 7, 2019
If you’re thinking markets will bounce back sharply because MUH BTFD — good luck. This time it’s different — because this time the Fed is off the table. Now we have Trump dictating foreign policy and Fed policy — pissed the fuck off after 3 years of inane Russiaphobia via Mueller, ebbing into an election campaign that is sure to be rife with disgusting rhetoric and emotions on tilt.
Watch for yields breaking below 1.5% towards record lows and keep a close eye on crude breaking $50 to the downside. Gold should be, inexorably, a staple in your portfolios, along with cash. Shorting below $180 on the Qs is a layup trade.
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Fly
The CDC advises a 2-step evaluation of your blood test. First, your blood sample is tested through a process called enzyme immunoassay (EIA) or indirect immunofluorescence assay (IFA). If this is positive for Borrelia antibodies, the sample is put through an immunoblot test. This is also known as a Western blot test. This test measures immunoglobulin G (IgG) and immunoglobulin M (IgM) antibodies in your blood.
You will likely receive a diagnosis for Lyme disease if both the EIA/IFA and the Western blot test are positive. But in some cases, you may also have other tests, such on your cerebrospinal fluid (CSF).
Do not take those idiotic, expensive, totally unfucking-reliable tests.
If you have a bullseye and were exposed to ticks; take the antibiotics pronto.
If you were exposed to Lyme; you’re covered
If you weren’t exposed to Lyme; you’re fine.
win / win
Doctor: I have good news and bad news.
The Fly: Quit playing around and tell me or I’ll slap you with a wet noodle.
Doctor: The good news is you don’t have Lyme’s disease.
The Fly: I can’t take much more bad news. Did I tell you about my house and plan to move south to live with Hillbillies?
Doctor: The bad news is that you have congenital Mad Cow disease, probably acquired at a local hammed burger joint.
This is it….this is the big one.
It really is
I this is so great my coins are growing they must be 2 feet in diameter then you need to look at me LOOK AT ME!
They only look like they’re growing. Every else is getting much smaller.