China Delivers the Death Knell to Trump’s Presidency: Trade Talks End Without Progress

NO ONE KNOWS WHAT THE FUCK IS GOING ON HERE: WH says SCMP report is inaccurate. Spox Judd Deere tells me: “We are not aware of a change in the Vice Premier’s travel plans at this time.” Senior admin official says Liu still scheduled to depart Friday evening, and dinner is on for the delegation Thursday evening in DC.

This is why we can’t have good things here. As soon as shit started to look good, BAM! — the fucking Chinese come in and fuck us. It’s bad enough Turkey has been let loose to genocide the Kurds, now we have to deal with the fucking Chinese. Jesus Christ.

Source: ZH
“They have made no progress,” said another source familiar with the talks, adding that the Chinese side had not made headway in persuading US negotiators to consider a freeze on tariff increases, a main priority for Beijing.

And confirming that the week’s entire negotiation was a fiasco from the start, the SCMP reports that the Chinese delegation is planning to leave Washington on Thursday – one day early – and after just one day of principal-level talks, the SCMP source noted. Beijing’s negotiating team, headed by Vice-Premier Liu He, had previously planned to leave Washington late on Friday, allowing for up to two full days of talks.

I only lament severely because I am long, having sold out from my TVIX position today — thinking Trump had his shit together. But I was wrong.

Nasdaq futures are down 30, Dow 70. The futures were down a whole lot more earlier, more than 300. The folks at CNBC were speedily jerking off to that news and now they’re stuck with flaccid cocks and stupid headlines, whereas I have a glorious headline and a stomach filled with mushroom risotto, made by my own hand.

In related news, Trump is finished!

Traders got their faces boxed the fuck in today, coming in short, in heavy cash, fucked sideways and out. No one expected this to happen, +100 Nasdaqs, Kurds BTFO, Trump’s China deal unimportant — more fucking craziness.

One could make a strong argument for ignoring any and all news. Granted, it might make you woefully ignorant and a dullard bore at cocked tail parties, but you’ll be happier and richer for it.

I just partook in a spate of poorly executed trades. I had recently broken a miserable trading streak with a dozen solid gains and now I’m right back where I started — mired in mediocrity.

My last 10 trades.

TQQQ +1.85%
(ROKU -3.5%)
MU +2.3%
JNUG +3.9%
SPLK — wash
(TNA -5.9%)
(KEYS -6.4%)
(CREE -9.8%)
(SEDG -1.5%)
(TVIX -5.2%)

Of course as soon as I sold TVIX the market dumped out 60 points and TVIX leapt higher; but that’s the nature of this business isn’t it? We’re constantly second guessing, strong arming opinions, acting on impulses and/or attempting to find a holy grail. Truthfully, and this goes without saying, you’ll never get rich trading. Write it down and post it on your fucking wall. Your gains, over time, will be had via long term cap growth, the old boring method of having an S&P like structure, yielding 10% in gains, 2% in divvies. You do that over 30 years and you’ll be financially secure.

But that’s boring you none of you read me for that. You want Fly out there in the City Square cutting dicks off with his dick guillotine, beheading people for looking at me sideways. I can do both, and will do both, believe me.

Into the bell, I’m bullish, positioned in SAAS and other indelible names — working thru the bad streak and optimistic for the future.

There’s a lot to be said about a man, such as myself, who is malleable to the point of maddening flexibility. One minute I am a gold insect, the next I am this sort of lunatic selling short the metal. I am, after it’s all said and done, a slave to the trends.

We do not have an accommodative tape for gold presently. The metal has shined wonderfully the past year, but is now BOGGED down in a sideways pattern that is bound to shake out weak kneed faggots. As such, you might see a divergence between the metal and the miners, with the latter getting smacked cold, as rates reflate upwards.

There is a good correlation between rates and gold. You might not be paying close attention, but I am.

That being said, and until further instruction: fuck gold.

This is the sort of news flow that could drive anyone crazy.Yesterday China was leaving early and Trump was kicking out their officials. Today, MEH, maybe they’re open to the idea of a trade deal.

You and I both know, if talking between two gents at a cigar lounge, none of this shit is happening. Trump will never cut a trade deal with Xi, especially with the elections and impeachment in the air. Who in their fucking right minds would cut a deal?

That being said, I’d argue this rally is in danger of dissipating and then dissolving into the sewers.

Trump’s trade war took a dark turn for the worse. More than that, QE4 is getting people nervous. More than that, impeachment is just around the bend. More than that, we’re in October — the month designed by the simulators to crash markets.

I took three losses today and added a bunch of stocks to the mix. Cash is 25% without any real hedges. My only counter equity position is a leveraged bond ETF. Frankly, I’m spit-balling into a volatile wind from the east.

Should I give up and go short?

BAD MOVE.

QE4 is ultimately bullish.

Nevertheless, we’re in a mood now and most of you will just have to ride it out. I’ve had poor experience shorting into the hole, so I am refraining from doing so. As for gold, it looks good, but not great.

Better luck tomorrow.

Markets were recovering until this came out — more bullshit by Trump by way of Chinese trade war.

BREAKING: Trump imposes visa bans on Chinese officials linked to the mass detention of Muslims in Xinjiang province, @nwadhams reports.

More on @TheTerminal

— Mike Dorning (@MikeDorning) October 8, 2019

This ends, naturally, with Trump forcing out all Chinese students from American Universities — and China banning and/or liquidating their Treasuries.

Meanwhile, QE4 is unofficially underway.

hey @lebas_janney do you want to correct your correction now or in 1 month? pic.twitter.com/rYQevPmPLv

— zerohedge (@zerohedge) October 8, 2019

As jarring as this all seems, judging by recent history, Fed intervention should be bullish for stocks. It’s unhealthy and morally wrong, but asset prices will be jimmy jacked the fuck higher. As for the China trade war business, not good.

QE4 is already the same size as QE1 pic.twitter.com/KPLkrF8dNi

— zerohedge (@zerohedge) October 8, 2019

The Father of the Yield Curve is warning Americans to batten down the hatches and prepare for recession.

Duke University professor Campbell Harvey says the bond yield curve is “flashing code red” for a recession.

Harvey encourages investors, business executives and consumers to prepare now.

How does one prep for a sharp economic downturn? Should one collect evidence against his employer to blackmail him/her in the event of a firing? If one were to gather some strong evidence, one could certainly protect one’s job against termination.

What does it mean to be in recession?

I bet you millennial and zoomer retards haven’t the slightest idea what it would entail. Well imagine a world that behaved like Bitcoin in 2018, or perhaps an avocado toast that has already browned and gone bad. Would you eat said toast? Probably not. Or how about a pineapple that looks nice on the outside, but after cutting into it you find out the pineapple is in fact bad. This is a recession, small people of the internets.

Then you get the panics, people freaking out that the recession can turn into something worse and dreadful — a depression. During a depression there aren’t any avocados left in the store, because the dust bowls wiped out the crop. The only White Claw flavor left is grapefruit and the pineapples are only in canned form. As a matter of fact, during a depression, organic foods will become extinct and beef will be laden, mind you, with harmful chemicals — as ranchers “treat” the meat to last longer. The halcyon days of grass fed beef would be nothing short of a wistful memory of better days.

Markets will descend into the pits of hell, festooned with margin calls and financial advisors overseeing their businesses destroyed from the fires.

The way we would extricate ourselves from said depression would be war. The blood of the many will be used to nourish the tree of capitalism, paving the way for a new era of crony capitalism and grift.

In short, prepare young lads, prepare for the worst of times.

I should’ve listened to my inside voice and stayed in a larger cash position. Now I stand to get BOGGED the fuck out in an array of new longs, thanks to a China trade deal that was never going to happen in the first place.

Now for the headlines.

Chinese state television CCTV said it was suspending the current broadcast arrangements for the NBA’s pre-season games in China.

S&P Futures down 21 points; Bloomberg now reporting that the Trump administration is considering limiting China stocks in US government pension funds

Let me help you put that frown upside down. No one likes waking up to bad news and the specter of losing money. I bring you entertainment on an industrial scale now. I bring you Hillary vs Donald, Deathmatch — part 2. Loser goes to jail edition.

BREAKING: Hillary Clinton ‘thinking about’ running for President in 2020, according to multiple sources

— BNL NEWS (@BreakingNLive) October 7, 2019

Well well well, color me surprised. The good folks in our ‘scientific community’ have just revealed something that no one saw coming: VAPING CAUSES FUCKING CANCER!

This business pivot will be studied in Universities around the world for the next millennia. The timeline works wonderfully. Bear with me as I assemble my marbles.

Early 2000s, young stockbroker Fly sops up juicy tobacco settlement bonds by NY State and other states, who settled with BIG TOBACCO for fucking billions upon billions. States took the money and ran, and issued bonds secured by these payments. Everyone got rich, me, the state, BIG TOBACCO, except Joe Cancer who could no longer sue BIG TOBACCO because the case had been settled.

Cigarettes get BTFO in NYC and other places around the country, followed by a groundswell of health moments in America surrounded by the idea that organic food and doing without harsh chemicals might improve quality of life.

This movement led to a greater awareness of human health and total rejection of the cigarette. By 2010, only fucking retards and loser boomers smoked.

ENTER BANANA FLAVORED VAPES/E-CIGS.

BIG TOBACCO couldn’t just make money by giving Europeans cancer anymore, so they invested in new nicotine products, one’s with banana and rainbow flavors that appealed to Johnny Hop Scotch around the schoolyard. They made it look like a cool electronic device, like a fucking iPhone, permitted you to charge it and everything. Johnny Hop Scotch and Sally Snow Blower sopped it up and gave it to their friends and they all become cool in school. A few years later, the government, desperate for cash, LEGALIZED POT — while heavily promoting the health benefits of cannabis, a drug that had led to the incarceration of thousands for decades. By 2014, pot + e-cigs became the coolest shit in the world, attracting scores of zoomers to share inside the schoolyard and urinals.

.@CNBC: E-cigarette vapor causes lung cancer and potentially bladder cancer in mice, damaging their DNA and leading researchers at New York University to conclude that vaping is likely “very harmful” to humans as well. "E-cigarettes are bad news,” according to the lead researcher

— Bill Griffeth (@BillGriffeth) October 7, 2019

Last year if you weren’t vaping THC — you simply were a fucking boomer retard who deserved to die of lung cancer. Vaping THC was going to increase cock sizes, cure cancer, baldness, and turn incels into irresistible sex maniacs.

Until people started getting sick in 2019. Anyone with a basic science background would tell you there was no way of knowing if vaping was healthy or not, since humans were the ultimate guinea pig and it’d take years to find out. Well, it took about 7 years to find out vaping causes cancer — and could kill you a lot fucking quicker than the slow burn of lung cancer, by way of filterless Pall Malls.

So now, with upwards of 75% of gen Z zoomers smoking e-cigs, and a burgeoning health crisis crashing into the lungs of America, these little shitheads are quickly switching for the safest option to ingest nicotine, and of course the coolest one — smoking cigarettes.

Phillip Morris wins again.

This is not a market for the faint of heart. Two minutes before the following news was released, I had gone long stock. I am of course troubled by this minor disruption and naturally perturbed by the downward trend, but I fight on — backs against the current.

FOX: CHINESE COMMERCE MINISTRY SAYS WHAT IS NOT IN THE TABLE AND NEVER WILL BE IS CHANGES TO THEIR LAWS TO PROTECT INTELLECTUAL PROPERTY. THE COMMERCE MINISTRY TELLING US THAT THE CHINESE WILL DEAL WITH INTELLECTUAL PROPERTY THEFT THROUGH ADMINISTRATIVE REGULATIONS

My original assumption was for a horrible tape, based upon my logical conclusion that Pelosi and Co. were retarded and malevolent in attempting to remove the Orange Lunatic from office — by any means necessary. Then I woke up in a better mood and went long stocks. Truthfully, I am second and third guessing almost everything. I do not have a firm handle on the near term direction and would caution you from thinking you know this tape — because you don’t. Its florid display of inequity is somewhat jarring for the uninitiated. But veterans of this shit-show understand, this is just par for the course.