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
22,270 Blog Posts

BRACE YOURSELVES FOR THE FOMC NEWZ

Inflation is high, but if you’re rich it doesn’t really matter. Since most of you reading this are poor — you should be concerned about what the Fed has in store for you this afternoon. Will they destroy you little portfolios and extend your retirement age to 100? We shall see.

The overarching move in stocks has been HIGHER on Fed days; but all good things must end and for now I am mostly cash — having closed out my hedges and some trading winners. I would like to be short, and I still might do it. But who am I kidding with this bearish demeanor — when you and I both understand the Fed will figure out a way to RIG stocks higher.

From here it’s difficult to see how they might achieve this goal, since all data points leads to us being fucked and on top of that we have a fucking brain-dead President. Not that it matters, of course. Presidents are useless figure heads for who wields the true power. In our case, shitlib mentally addled fucked for faces with satanism tendencies and retarded numerology superstitions, both vacuous and delusional to their own depravity.

Go USA GO!

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6 comments

  1. metalleg

    I recall the market having anticipated a pivot the last few months and the Fed hit everyone over the head with a sledgehammer. With the mid terms approaching, Biden claiming the pandemic is over, etc, I think the Fed softens its stance somewhat, sending the market screaming higher.

    How will they accomplish it? Either a 50 bps move or a 75/100 bps move with some dovish comments.

    If they do 100 bps with hawkish comments, look out below. I don’t think they go there. No one is talking about a pivot which means they may be changing the narrative.

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  2. juice

    ‘Presidents are useless figure heads for who wields the true power. In our case, shitlib mentally addled fucked for faces with satanism tendencies and retarded numerology superstitions, both vacuous and delusional to their own depravity.’

    Flea telling it exactly as it is. Don’t know what GuidedByVoicesInMeHead was on about Fly selling out.

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  3. bambam

    Never planned to retire until I die so it’s not going to be disappointing to what I never had

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  4. purdy

    Fed want to “have positive real rates across the curve….”. If true (I doubt it) a LOT of pain will come on the way there. Brazil’s et al are already there BTW and should benefit.

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    • flea

      Yeah, but by positive he means +0.01. That doesn’t help anybody but the usual suspects (top 1%). Most ‘muricans want +3%, +4% real rates so THEY can grow wealth also.

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