Well, well, well. So we dribbed and drabbed to get back to the halfway mark of the “Europe is Saved” rally. It took six weeks to give back about 100 SPX points. Then we lost another 25 points in a day and a half.
There is plenty of blame for the action and its the same shit that I’ve been ranting about for weeks, months, years. I certainly don’t need to list them, outline style. And after three consecutive years, there are no more winks and nods. Everyone finally admits the true state of the economy and how truly fucked the capital markets are. The latest rally has been fun, like the previous free money inspired moves, but time and price are running out.
I believe in “The System” and that that it will endure long after we’re gone. But it needs a hard reboot and that will certainly be painful. Maybe the G-8 will pony up another trillion or three. Perhaps we can invent another product or sector that can distract investors and traders. Or maybe not.
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Great post. The “system” as i see it, has become convoluted and dysfunctional beyond repair on just about every level.
We have undoubtedly crossed the event-horizon as our “leaders” have already spent us into oblivion.
Don’t get me started on the devolution of modern society itself…people might think I am becoming cynical.
interesting. i was wondering why 1310 meant anything to you. the recent carnage looks like get the fuck out mode. keep us small plebs updated on your thoughts.
Nice post Scott- appreciate your commentary.
http://www.pakalertpress.com/2012/05/15/why-is-the-obama-administration-allowing-the-chinese-government-to-buy-up-u-s-oil-and-gas-deposits-worth-billions-of-dollars/
this is an obama-nation. thanks for the heads up.
Sure. The “system” is magically broken now. We go up from here. If you believed anything you thought, you would have pocketed big money with TZA over the last two weeks. Instead, you keep playing the same song over and over, hoping the dance comes to you. T. Boone Pickens and that Singapore resident, what’s-his-name, must have lost a ton, if they back up their mouth with their money, and yet I doubt they lost a cent. They just play the masses in a never ending euphoria/panic diatribe that marks the reverse of their entries and exits.