Am I supposed to get excited that our execution has been stayed? The gallows are still there, freshly built, awaiting our necks. European markets have soared over the past two days. Ours? Ours are for the dogs.
More than 340 stocks traded down more than 10% this week, an ordinary correction in a land of milk and honey. After all, we have the best banks, Fed, tech and medicine man companies. We also have a benevolent oligarchy who bestow mercy upon us in the form of short prison sentences for IRS violations.
I see oil is trading up again, luring managers of money back into its fuck up web. Having positions in a variety of oil stocks, I am not complaining–per se.
It’s past 2 o’clock in the afternoon and I haven’t bothered to blog yet. I’ve been awake since 6am, sort of in a trance like catatonic state. I’ve been reading a book, about the life and times of Jay Gould, robber baron extraordinaire.
How did olde Jay amass his $86 million back in the 19th century? Very simple. He merely would sell short the company he was in charge of, purposely fuck up their contracts, cover his short, and then get long after fixing the contracts. He also once forced UNP, the company he was CEO of, to buy the Kansas City railroad, in which he owned the majority of the shares, at an extreme premium. He netted $40 million from that deal.
He also treated the Erie railroad as his personal piggy bank, legally.
Ah, the good old days.
Needless to say, I am not impressed by today’s rally and will not be buying anything. There is too much muck, implicit corruption, and a strangely docile investment public to believe anything seen on my screen.
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