The "Niagra" Moment Approaches?
Is that a waterfall I hear in the background.... and why is it getting louder?
Unemployment claims came in at 375k, year over year PCE up 3.5%, core up 2.2%, spending up 0.2%. Psst - that's called "recession."
The odds of a 50 bips cut in March in the FF Futures market goes up instantly to 80%, while the futures sell off to -200 on the DOW within seconds. Oh, and the intrameeting cut crooners come back out again too. Immediately.
Hmmmmm.....
Its rather amusing to me how "Da Bulls" are forced to come kicking and screaming around to what is better known as "reality."
And who's responsible for this?
The "Mainstream" Media, who's job appears to be to insure that Pavlov's Dogs continue to salivate every time someone say "buy!"
But what happens when that Pavlovian Response leads you to a trough full of sweetly-flavored treats, you eat them, and then discover they're laced with Ethlyene Glycol?
You die.
Or rather, your 401k does.
The worst example of all last night was Cramer - we had a raw Bull Stampede that aborted instantly as soon as a bit of "reality" came into the picture. Yet Cramer's interpretation? "Buy buy buy buy buy" because "The Fed has our back."
Really?
Let me include one little chart here, which I usually don't do in the Ticker's any more - saving them for the technical - but this time I have to.
That first "bubble"? It was the emergency rate cut that Greenspan put on the market on the first trading day of 2001.
If you listened to the market "crooners" who told you to buy because "The Fed Has Our Back", about two months later you had lost twenty five percent of your money.
Worse, if you bought on that very day, right now, eight years later, you are barely back to "even", and if you look at purchasing power, you've lost 20% or more in real wealth!
You want to believe them this time?
Cramer's FAMOUS call in the early months of 2000 still stands as the crown jewel of pure folly in listening to these people - if you believed him THEN you lost basically ALL of your money!
How does an ******* like this who literally bankrupted people back in the 2000 "tech wreck" get his own TV show? How does he sell ANY books? How is it that his FAMOUS calls over the last few months - CROX anyone - aren't enough all on their own to lead people to show up at his studio with pitchforks and torches?
Its obvious that in this "ADD World" there really are a lot of STUPID people out there, otherwise people like Kudlow and Cramer would have no audience and would be off the air!
Are you one of them?
Today we keep hearing that the ratings agencies are intentionally holding off downgrading the monoline insurers even though they know they don't merit their credit grade.
If this is true that's fraud guys. This is a purely indefensible move and those who are engagaed in it will eventually find themselves paying for it, either through civil or criminal action.
This shouldn't lead to lawsuits - it should lead to indictments and revocation of "agency" status, and I predict that eventually it will.
Look folks. You can deny deny deny all you want, but the reality of the situation here is that the "smart money" has taken its ball and gone home. The sooner you recognize that until the truth is told and the excesses shaken out of the economy we will not have "found the bottom" the more of your money you will keep!
We have allowed, through willfully-absent regulation, the "Pigmen" of Wall Street to intentionally deceive those who lend money - real money - into our economic system. We allowed people to claim that there was a "risk free" return available that was radically better than Treasuries, when in fact such a thing is impossible. We have allowed "financial alchemy" to take place - when scientific truth is that "alchemy" is a scam and a fraud - ALWAYS - just as it was when people claimed they could turn lead into gold!
Now the trap has sprung and all that so-called "smart money" has been burned. The very regulatory system that makes us allegedly a "first world" nation, where crimes are punished and truth is the hallmark of our government and economy, has been shown to be not only toothless but intentionally absent.
And the politicians? They're being paid off by these very same "Pigmen" who did this!
Go take a look. Who makes "campaign contributions" to all these Senators and Representatives? Can you find one who isn't flush with campaign cash from the Wall Street Crooners?
Good luck.
Was all of this - the housing bubble and now crash - an honest mistake?
Or was it an intentional act perpetrated by greed with the simple intent to siphon off as much money as possible, truth be damned to Hell?
But now all the folks with "hard money" have in fact bit into the sandwichs they were served up and they've discovered they in fact have crap in the middle, not peanut butter. 2Girls1Cup (and no, don't look that up on the web - unless you want to be grossed out!)
The real nasty is the pension funds, money markets, and other places where Joe Six Pack - that is, you, the public - have their money. You trust these people to guard your retirement. To keep that money safe. To insure that you have something coming in when you retire and swing on the porch with your wife or husband.
You've been had, but most of you don't know it yet.
The fine folks over in Abu Dhabi have figured it out. Why do you think their LAST bunch of "hard money" came with a 14% effective coupon? They may be able to be duped, but they're not stupid, and most people will not willingly let you have more than one free shot at their back door. After all, most people don't get (and stay) rich by being stupid.
Wake up folks.
Or lose 50 or even 75% of your money.
Again.
Just like in 2000.
PS: Beware that "rally" today. Take a real close look at the last 15 minutes. That can - and likely soon will - happen all day.
Here's your technical!
Unemployment claims came in at 375k, year over year PCE up 3.5%, core up 2.2%, spending up 0.2%. Psst - that's called "recession."
The odds of a 50 bips cut in March in the FF Futures market goes up instantly to 80%, while the futures sell off to -200 on the DOW within seconds. Oh, and the intrameeting cut crooners come back out again too. Immediately.
Hmmmmm.....
Its rather amusing to me how "Da Bulls" are forced to come kicking and screaming around to what is better known as "reality."
And who's responsible for this?
The "Mainstream" Media, who's job appears to be to insure that Pavlov's Dogs continue to salivate every time someone say "buy!"
But what happens when that Pavlovian Response leads you to a trough full of sweetly-flavored treats, you eat them, and then discover they're laced with Ethlyene Glycol?
You die.
Or rather, your 401k does.
The worst example of all last night was Cramer - we had a raw Bull Stampede that aborted instantly as soon as a bit of "reality" came into the picture. Yet Cramer's interpretation? "Buy buy buy buy buy" because "The Fed has our back."
Really?
Let me include one little chart here, which I usually don't do in the Ticker's any more - saving them for the technical - but this time I have to.
That first "bubble"? It was the emergency rate cut that Greenspan put on the market on the first trading day of 2001.
If you listened to the market "crooners" who told you to buy because "The Fed Has Our Back", about two months later you had lost twenty five percent of your money.
Worse, if you bought on that very day, right now, eight years later, you are barely back to "even", and if you look at purchasing power, you've lost 20% or more in real wealth!
You want to believe them this time?
Cramer's FAMOUS call in the early months of 2000 still stands as the crown jewel of pure folly in listening to these people - if you believed him THEN you lost basically ALL of your money!
How does an ******* like this who literally bankrupted people back in the 2000 "tech wreck" get his own TV show? How does he sell ANY books? How is it that his FAMOUS calls over the last few months - CROX anyone - aren't enough all on their own to lead people to show up at his studio with pitchforks and torches?
Its obvious that in this "ADD World" there really are a lot of STUPID people out there, otherwise people like Kudlow and Cramer would have no audience and would be off the air!
Are you one of them?
Today we keep hearing that the ratings agencies are intentionally holding off downgrading the monoline insurers even though they know they don't merit their credit grade.
If this is true that's fraud guys. This is a purely indefensible move and those who are engagaed in it will eventually find themselves paying for it, either through civil or criminal action.
This shouldn't lead to lawsuits - it should lead to indictments and revocation of "agency" status, and I predict that eventually it will.
Look folks. You can deny deny deny all you want, but the reality of the situation here is that the "smart money" has taken its ball and gone home. The sooner you recognize that until the truth is told and the excesses shaken out of the economy we will not have "found the bottom" the more of your money you will keep!
We have allowed, through willfully-absent regulation, the "Pigmen" of Wall Street to intentionally deceive those who lend money - real money - into our economic system. We allowed people to claim that there was a "risk free" return available that was radically better than Treasuries, when in fact such a thing is impossible. We have allowed "financial alchemy" to take place - when scientific truth is that "alchemy" is a scam and a fraud - ALWAYS - just as it was when people claimed they could turn lead into gold!
Now the trap has sprung and all that so-called "smart money" has been burned. The very regulatory system that makes us allegedly a "first world" nation, where crimes are punished and truth is the hallmark of our government and economy, has been shown to be not only toothless but intentionally absent.
And the politicians? They're being paid off by these very same "Pigmen" who did this!
Go take a look. Who makes "campaign contributions" to all these Senators and Representatives? Can you find one who isn't flush with campaign cash from the Wall Street Crooners?
Good luck.
Was all of this - the housing bubble and now crash - an honest mistake?
Or was it an intentional act perpetrated by greed with the simple intent to siphon off as much money as possible, truth be damned to Hell?
But now all the folks with "hard money" have in fact bit into the sandwichs they were served up and they've discovered they in fact have crap in the middle, not peanut butter. 2Girls1Cup (and no, don't look that up on the web - unless you want to be grossed out!)
The real nasty is the pension funds, money markets, and other places where Joe Six Pack - that is, you, the public - have their money. You trust these people to guard your retirement. To keep that money safe. To insure that you have something coming in when you retire and swing on the porch with your wife or husband.
You've been had, but most of you don't know it yet.
The fine folks over in Abu Dhabi have figured it out. Why do you think their LAST bunch of "hard money" came with a 14% effective coupon? They may be able to be duped, but they're not stupid, and most people will not willingly let you have more than one free shot at their back door. After all, most people don't get (and stay) rich by being stupid.
Wake up folks.
Or lose 50 or even 75% of your money.
Again.
Just like in 2000.
PS: Beware that "rally" today. Take a real close look at the last 15 minutes. That can - and likely soon will - happen all day.
Here's your technical!
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