So tired of saying it, and so tired of people coming out EVERY- SINGLE- DAY- CALLING A BOTTOM THAT ISN’T THERE!!!!!!!!!!!!!!!!!!! We’re going lower, probably 1000 points maybe 2000 at the very least. We will bounce, as that is what happens in extreme bear markets, but we are going lower. 1987 had nothing on this bear. This is a full blown panic, get me out at any price bear market and I think we’re in the fourth inning.
I do love that the ratings agencies are getting there asses fried in front of Congress, because just as the analyst community they are FREAKING USELESS!!!!!!!!! It’s days like this that I’m glad I have a blog so I can vent my thoughts on the pathetic state of affairs that we find ourselves in. The mindless pundits who call the bottom at every turn, only to be proven wrong again, and again and again, the fat useless bureaucrats that make policy, yet haven’t a clue about the time of day, the phonies in Washington that pretend they are for the taxpayer, when in fact they are just jockeying for position and are trying to just get reelected at our peril. They are all truly clueless but it is still the best system on the planet. We could be Iceland or Argentina……nah I won’t go there.
Kudlow is pontificating the wonders of low oil prices, does the man even have the guts to say why? He’s part of the problem. We have massive deleveraging, demand destruction brought on by a global recession. Gee Larry, low gas prices are really helping. I’d like to shove a TED spread up his ass. Moron. Even Bernanke can’t say RECESSION, just won’t say it. What a leader. Where’s Paulson? Hey, where’s Howard Dean, haven’t seen him in a year, pulling his best Jimmy Hoffa. Speaking of Kudlow, he’s off my viewing list as he is a liability to the everyday viewer. Just not fair, just not right.
Why am I so pissed when I am making a fortune being short this bear? Because I am getting sick of the system. It’s broken and screwing people. My sisters, my friends and relatives. Folks I know listen to the bullshit and keep taking the bait, every freaking single day. I’ll take advantage of it as long as it lets me but people feel they just can’t trust anybody. I’m a Republican but Bush is a joke, Obama will be proven to be our worst nightmare and our Congress and Senate have never been more self serving and ignorant.
This time is different because all the players are clueless.