The pain trade is DOWN gentlemen, always down. With the vast majority of Americans invested via retirement and discretionary accounts, the pain trade is almost always DOWN, except for rare occasions when the gloom is so infectious and caustic — the move higher comes as a surprise.
Here we are again, gingerly trodding higher amidst deleterious economic circumstances. Ordinary plebs are having their septic tanks explode on them, shitted lawns, all the while Lawrence Summers vacations in the Caribbean informing said pleb that his job is about to be lost in order to preserve the FOMC mandate.
YOU WILL BE FIRED IN ORDER TO PRESERVE THE FEDERAL RESERVE MANDATE pic.twitter.com/BkDPzQzTs6
— The_Real_Fly (@The_Real_Fly) January 9, 2023
All market professionals understand stocks belong lower. Those of us unburdened with the shackles of having to manage it for others, collect exorbitant fees, trading from wine cellars, really just want the whole thing to burn down — sometimes because others might’ve retired from managing OPM in 2017.
But will it?
The answer is YES! The market will, at some point, crash and burn — and it’ll make for a great spectacle. However endearing the thought might be, as of now, sadly, we are trending up.
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Notably, this is the most telegraphed recession in decades. Recession predictions of econmists are rarely to never correct until after we obviously are having one. The soft landing is now in sight to economists, go figure. Soft landing has only happened once in decades in the ’90’s. But actions speak more than words and the Fed is hiking rates presently. The mandate is elusive but inflation is clearly not wanted and possibly they want to distance themselves from zero interest rates hopefully for a long time, employment be damned.