Volatility has Collapsed

You hate to see it — but the Fed did it again. They took a burgeoning banking crisis and cobbled together their purses and made it go away. There’s an entire generation of spoiled brats on Wall Street who know nothing but bailouts. Back in my day, companies collapsed and their share prices went directly to zero and their bond holders got zero too — because fuck off.

But today, we are all entitled. The preferred shareholders are treated like senior lenders and the bond holders are Gods. The equity comes and goes depending on the severity of the connections between upper management and America’s ruling class. Meanwhile at the fiefdom, 5 year olds are preparing for cut off their dicks and grow mammaries because they have a right to be heard.

It’s all very perverse and in a just world the 30yr mortgage rate would be 900%.

Stocks are boring me today and the volatility has collapsed once again — fueling the expectations amongst the permanent bull class of investor that another leg up looms.

MEANWHILE at House Fly I am dealing with a dead brand new Crape Myrtle in my yard — which must remain there for at least a month because the landscaper is busy. I’ve also been informed by the HOA that I need to remove my fucking yard lights off one of their fences. Let’s see if they can make me do it.