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
23,328 Blog Posts

It’s the Economy Stupid

What sort of depraved animal buys stocks based upon some absurd notion the Fed will stop hiking rates? BUDDY: the damage has already been done. We are in the midst of an economic collapse and the market isn’t pricing that in yet.

Today we had a TGT miss and MU supply cut. See how the market is treating both of those stocks? Why aren’t the PIVOTOOORS buying them? They’re not buying them because the economic realities outweigh the sugar high of less poison to the economy.

I am deeply embedded in the belief of lower prices. It is the market’s destiny to COLLAPSE amidst bankruptcy filings and pestilence.

Remember, the Fed can only pivot once. They’re likely to do so in December and then all eyes will be fixed on the economy and the earnings reports.

Are you feeling lucky about earnings, punk?

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  1. soupbone

    The so called pivot we were are planning to celebrate will have lost it’s potency due to earnings. After that disappointment, the actual turn in Fed policy will be the goal. Man this is super complicated situation right here.

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  2. dchanko

    something is going to break
    Housing makes up just less than 20% of USA economic activity

    “A homebuyer must earn $107,281 to afford the monthly mortgage payment on the typical US home, this is up 45.6% from a year ago,”

    These are average numbers… in the tech heavy west coast / bay area
    the typical monthly mortgage payment is now in excess of $10,000

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