A minor retracement day — nothing to get too upset over. I see the US 10yr is +5bps again and now people are losing their shit. The closer we get to the prime home sales time the more anxious Wall Street will become over the specter of a FULL BLOWN COLLAPSE. Last year we thought the rates might have a deleterious effect — but it didn’t and because of that housing stocks boomed. Let’s see how people are fairing this year, after absorbing an entire year of high rates.
One could only surmise there will be, at some point, EXTREME tolls to be paid — people tossed out from their homes into the gutter for missed payments. The rates are TOO GOD DAMNED HIGH. Does anyone else see this as a problem OR is it just me?
I’ve been listing all day, down 42bps for the session. I do not have the testicular fortitude to sell short mid-afternoon. We are likely to see 30 green candles into the close today, as it is customary in this market to do so.
We are in this repetitious cycle of false collapses, fake bad news, real bad news that does nothing, deluded people clamoring for something substantial to happen and meanwhile NOTHING HAPPENS but the semis continue to reach record highs and the people from the Amazon come streaming into the country INVITED by the most evil people in the world. There isn’t a single person in power willing to stop it and we are of course satiated by the length of our live’s coupled with the wee bit of comfort we enjoy — thanks entirely to the record high stock market. In a generation or two, the nation will be torn asunder amidst rapes, murders and pillaging throughout all urban centers — the very testaments that proved we were a great society will be our downfall all because of compromised men in power were blackmailed into compliance and no one was there to remove them.
In the end, people get what they deserve. If Americans are so weak as to allow the Barbarian Hordes rum over them — perhaps it’s a good thing the HAN CHINESE are ascending and will create a better world order than the bullshit we have now.If you enjoy the content at iBankCoin, please follow us on Twitter