Denial ain’t just a river in Egypt- Mark Twain
The market doesn’t care about anything here. It’s like an 80’s Wall Street party. C-Notes spilling out on the floor, Patron flowing, a bottomless keg and the limo outside, paid to wait..all night if need be. It’s the Playboy Mansion on New Year’s eve. No worries.
Portugal may go bust tonight or in the morning, Europe is raising rates because we are exporting inflation and the Mideast has become the last days of Pompeii. All good, Ben’s at the spigot.
The Feds’s Fisher said to today that we have a Lindasy Lohan Congress, excessively addicted to deficit spending, shoplifting our children’s future and we are at a tipping point, and this process is just beginning.” Makes sense to me.
I have talked about the daily, weekly and monthly evisceration of our dollar for over six months, please see past posts. Many had cool pictures of a pilot in a burning greenback airplane crashing. Love Google images.
We have fifteen million unemployed and housing bit the big one yesterday, as existing home sales sucked. Some say we have moved past the housing crisis. We may have stopped obsessing, but it’s still “real.” That means NO ONE IS BUYING HOUSES AND NO ONE CAN SELL HOUSES. Stay with me.
Am I talking my book? No, I’m net long, with shorts on the runway big time. I do think last week was a warning.
The pimp that is Bernanke will stop printing soon. Maybe it’s just me.