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.If you enjoy the content at iBankCoin, please follow us on Twitter