Lots of bad news today, such as Moody’s downgrading a bunch of regional banks, Chinese exports to the US collapse, Italy affixing 40% taxes to their banks — etc. The Nasdaq is off by 183, and the US 10 yr straddled at 4.01%.
The breadth is an appalling 35% and VIX is spiking.
All of this would lead me to believe a rally was NOT in fact even remotely possible. There is simply too many reasons to sell, especially since the market has risen so much and we’re in August and only losers are trading a lot now, instead of going on boats to drink seltzer water and look at the fucking fish through the lenses of $400 sunglasses.
But we’ll likely rise anyway — since the new approach to Post modernism is to go towards and gallop into the dumbest of all scenarios. The worse the news is the better. The biggest degenerates are the most celebrated and any semblance of cognitive thinking is eschewed, mocked even, by soulless demons without families or a future.
As a permanent bear, it’s important that we WADE THROUGH IT and resist the temptation to short everything into dust — because odds are the dumbest path will be the one most readily traveled, worn out even.
Have you ever talked to people outside — get a sense of what they’re thinking or listen to their syntax and vocabulary range?
We are most certainly living in the last of Empire Pax Americana. I only wish I can live long enough to see it though and to profit from it — puts on the whole thing — the entire experiment as it bursts and concaves into flames and the savage beast of its populace busts loose like zombie hordes to cannibalize in open fields and prey upon the weak — but regularly offered shotgun bursts of metal into their faces when chanced upon towns of the minute varietal.Comments »