The Onion: "Financial Sector Thinks It’s About Ready To Ruin World Again"

Oh this is classic:

Via The Onion:
Financial Sector Thinks It’s About Ready To Ruin World Again

Read it all, but some funny (true?) snippets:
-“People are beginning to feel at ease spending money and investing in their futures again,” Blankfein continued. “That’s the perfect time to step in and do what we do best: rip the heart right out of the world’s economy.”

** See this commercial as back up:


-“On second thought, maybe we’ll wipe out the housing market again too, just for the hell of it,” Schnall quickly added. “Might as well, right?”

**The current accepted idea of a housing recovery is going to be so hilarious in a year or so I chuckle everyday.

-“Now that the public’s efforts to curtail questionable Wall Street trading practices have all but ceased, it’s time for us to bring the world to its knees again,” said AIG CEO Robert Benmosche. “There are still plenty of opaque financial derivatives, high-frequency trading operations, and off-balance sheet transactions out there, all with virtually no federal regulation. Trust me, we can definitely work with that. And if anything, we can always just lobby for further concessions and deregulation in Washington—which, by the way, is so, so easy to do—and then we can cause as much damage as we want.”

**No worries bulls, Janet Yellen is set to unleash QE Infinity TIMES Infinity come January but wowza, it's quite a way until then! Another commercial to help with the visual:


-"And while we’re at it, we’ll make sure we once again come away from this whole thing scot-free and far wealthier.”

**It's true. What really drove me away from things market and trading was that every trader/investor/money manager is responsible for the way the market works. To turn a blind eye in the awe of an uptrend is dishonest and shows where your real drive is from.

Have a good night.

Wall Street Babies Get Pampers Changed by Bernanke's Au Pair Hilsenrath

In case you were confused about things for the STUNNING 4% or so drop in the indices and rate sensitive items getting clobbered this handy diagram should clear things up.

1.) OMFG!!!! The Fed may taper/slow/stop extra bond buying:

2.) WE ARE SAVED!!!!:

As you were.


Note: The recent drop extends my time estimate until we get there, but I believe when the S&P 500 gets to 1800 there will be a significant opportunity.

Have a good night.

Vacation

The Bahamas for the next 8 days, see ya!

ATTENTION: Wall Street is Hiring Bagholders. Step Up!

How do you know you are Bearish and showing cognitive bias? How many Zero Hedge articles you reference in a work. Bullish? Anything by Joe Weisenthal on Business Insider.

Anyways, If I hear people "missed out" on the 145% rally from the lows I will scream. Only Wall Street types and morons think some dude with a job reacts in minutes or hours to market gyrations.

My chart (click for larger view):

We know, PE expansion due to low rates, etc.

The taunting, the smug dismissive attitude has to stop. No wonder normal folks do not do anything but steady invest and not watch. Main Street has seen enough of the baloney. Keep selling this uptrend (its not a 'rally' morons going on 4 years; if of course you missed the murder holes then bought the bottom which is easy) and no one is buying. Wall Street needs a bagholder that is not them (think 2000-2001; did YOU get bailed out? No? Too bad...) so buy in if you want.

Good luck.

I Will Be Saving This

Puzzling that faced with overwhelming evidence that former Fed head Alan Greenspan is a blathering idiot that blew 2 bubbles and caused massive damage, people now look to Ben Bernanke as some kind of hero:

I will be saving this one.

Guilty Pleasures: "The Undertaker"

Ok, so I used to LOVE the WWE (formally the WWF) and most especially the performer known as "The Undertaker". Fake? Yup. Silly? Maybe. AWESOME? Of course.

Enjoy this entrance at SummerSlam in 1994:

That just rocks!!!!!!!!!!

Lighters Up; Party Time

All is well and getting even better.

Because I am a "perma bear" or I don't philosophically empathize that unlimited handouts/bailouts/support for losers and their failed efforts constitute real accomplishment, I am an idiot. I have nothing to add. All anything is about, is making returns and money. I guess I missed that class. Too much fishing can be blamed as usual.

Stocks, bonds, real estate, anything but gold and silver is going to unknown highs and you have to buy. Buy now. In a thousand years of history no one but Benjamin Bernanke has figured out how to make a nirvana of free money with no consequence rain prosperity upon the masses. I tip my hat. Well done sir, well done.

I often think of this Kevin Depew Miyanville article
Five Things You Need to Know: Deflation is Here, What Next?

It's all become untethered. Emotion, momentum, and how far one can push it.

I think we see S&P 500 at 1800 in 6 months.

Is 1800 on the SPY overvalued? How can I know? There is no way to gauge it.

The restraints are off.

Have a good night.