This is probably my last blog until tomorrow, since I’ll be traveling soon. I was surprised to see the United Steaks ordering China to close its consulate in Houston, given just 72hrs to do so. One would think, given the context, the US is on war footing with China. I suppose the whole meddling into our business is cumbersome and I also suppose it’s important to have an enemy at all times — in order to give the Fed something to finance.
Futures are mixed and I don’t expect much to change. The indices are in fact bulletproof and although we are seeing a breakout in silver and the euro rallying hard against the dollar, don’t expect a revolution.
You will endure, for the balance of your lives, more status quo than ever before. The social change you see in front of you has had zero bearing on markets. All of the lockdowns and subsequent destruction of business in the country, since the global pandemic began more than 6 months ago, have produced substantially higher stock prices.
If we bombed Beijing tonight, I suspect markets would climb another 130 NASDAQ, in order to price in new Fed easing.
This whole game you participate in on a daily basis is a giant clown show. Stop trying to make sense of it.
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As we speak, a fleet of Chinese bomber dirigibles are on their way to bomb Houston harbor. Even taking the slow boat, the Chinese dignitaries will safe at home long before the bombs hit. A day that will live in infamy!
Generalissimo Cuomo will be placed in charge of the 56th Fleet in the Gulf
(of Mexico)
I haven’t visited in a while and I see Fly is still killing it. 300%? JFC I don’t doubt it. Makes my 20% YTD look pretty weak.
I agree, and I have finally figured out that the government really will prevent a crash and that the markets will not freak out over it. That clears the way for 4 trillion a year for 10 years if need be.
Of course there is more to the story, and if properly executed the economy can be saved.
But failure means going down harder and that is over the horizon. I hate to admit it but the dumbass BTFD crowd was right, at least for the next several years.
Goddammit Fly, what happened to my old avatar?!
The pelican algorithm assigns avatars based on value to the community. For an example of a high status avatar, see mine.
One does not come here with the expectation of being respected.
Still better than no avatar
FORTY trillion over 10 years/? That will be 1.5 to 2X annual GDP.
I didn’t say it was wise…just doabls.
By the late 200s AD, the economy of ancient Rome was in serious distress.
There was hardly a single year during that entire century without some major crisis– civil war, barbarian invasion, plague, imperial assassination, political scandal, or economic depression.
Sound familiar? But I think we can do better.
https://www.sovereignman.com/trends/mortgage-rates-are-effectively-negative-in-the-land-of-the-free-28337/?utm_medium=email&utm_source=sm_notes&utm_campaign=notes&utm_content=20200722_mortgate_rates
Is the Fed finite or infinite? If it is finite the point of uncomfortableness is already in play. If it is infinite, why the need to work for a living? Everyone is working for a living in the world so infinite is not likely the case. Nowthen, a huge increase in money supply to support a generous lifestyle can do no good when the lifestyle goes into remission for other reasons. Inflation makes people poor as fast as deflation. Either way the glorious tenure is certainly over.
Its ability to create money in any quantity is, literally, infinite.
The practical limit is unknown.
That is it exactly. People are indoctrinated yourself included. The ability you speak of is slipping away rapidly.
I followed exodus trades best I could via email alerts for all of Q2.
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