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What the world has come to!
I nursed him through two divorces, a cocaine rehab, and a pregnant receptionist. God's creature, right? God's special creature. I've warned him, Kevin. I've warned him every step of the way. Watching him bounce around like a fucking game. Like a wind-up toy. Like 280 pounds of self-serving greed on wheels. The next thousand years is right around the corner. Eddie Barzoon... take a good look, because he's the poster child for the next millennium. These people, it's no mystery where they come from. You sharpen the human appetite to the point where it can split atoms with its desire. You build egos the size of cathedrals. Fiber-optically connect the world to every eager impulse. Grease even the dullest dreams with these dollar-green gold-plated fantasies until every human becomes an aspiring emperor, becomes his own god. Where can you go from there? As we're scrambling from one deal to the next, who's got his eye on the planet? As the air thickens, the water sours, even bees' honey takes on the metallic taste of radioactivity... and it just keeps coming, faster and faster. There's no chance to think, to prepare; it's buy futures, sell futures... when there is no future. We got a runaway train, boy. We got a billion Eddie Barzoons all jogging into the future. Every one of them is getting ready to fistfuck God's ex-planet, lick their fingers clean, as they reach out toward their pristine, cybernetic keyboards to tote up their fucking billable hours. And then it hits home. You got to pay your own way, Eddie. It's a little late in the game to buy out now. Your belly's too full, your dick is sore, your eyes are bloodshot and you're screaming for someone to help. But guess what — there's no one there! You're all alone, Eddie, 'CAUSE YOU'RE GOD'S SPECIAL LITTLE CREATURE. Maybe it's true. Maybe God threw the dice once too often. Maybe He let us all down.
Registered Gold At the Comex
7 minutes ago
4 comments:
...There's no chance to think, to prepare; it's buy futures, sell futures... when there is no future. We got a runaway train, boy. We got a billion Eddie Barzoons all jogging into the future. Every one of them is getting ready to fistfuck God's ex-planet, lick their fingers clean, as they reach out toward their pristine, cybernetic keyboards to tote up their fucking billable hours. And then it hits home. You got to pay your own way, Eddie. It's a little late in the game to buy out now. Your belly's too full, your dick is sore, your eyes are bloodshot and you're screaming for someone to help. But guess what — there's no one there! You're all alone, Eddie, 'CAUSE YOU'RE GOD'S SPECIAL LITTLE CREATURE. Maybe it's true. Maybe God threw the dice once too often. Maybe He let us all down.
Pure Poetry.
Jsut been looking at a few charts with a view to next week. I won't be doing anything with most of these next week, but here are some random thoughts (encouraged by GAW)...
EWP: Spain. Now, that's a clear top broken: trend line broken, neckline of H and S broken 150 day ma broken. What more do you want. It's oversold now, but must be a good short, or put, on a puillback (if available). I would say that Brazil (EWZ)and China, PGJ, also looks pretty shorty on a pullback.
JNK also look ripe for a short on a pullback.
Drama Queen's fave, India, looks like a possible long play as the stop is near and obvious: trendline and 150 ma.
Edgar I was watching The Devil's Advocate for I think the 10th time and decided this is the scene that reflects the greed on Wall Street. That movie was made in 1997 and it is a little known movie with one of Al Pacino best performances.
As you said pure poetry. The movie title could have been "Dancing with The Devil."
@Mugabe that you for that tidbit as I am going to stay out of the market. At least until you GAW and Shaza, DQ or other chartists see a reason to get back in. I feel like I am back in October of 2008.
Bit of macro from Colin Twiggs. More on the theme of Asian lunacy:
China: Red Star About To Implode?
China's reaction to the global financial crisis was to stimulate domestic demand in an attempt to make up for the sharp contraction in export orders, primarily from the US. The strategy was twofold: a $586 billion stimulus plan and to stimulate private demand by quantitative easing. At a staggering 20 percent of GDP, the stimulus plan boasts a massive infrasture spending program including construction of new railways, environmental protection and investment in new technology. Aggressive quantative easing aimed to boost private borrowing by lowering finance costs and easing credit standards.
The resurgence, with GDP growth reaching 10.7 percent in the fourth quarter (WSJ) appears to vindicate the strategy, but the true cost of the plan lies ahead. Bank loans grew by $1.4 trillion in 2009, or 29 percent percent of GDP. That is madness — and likely to cause a massive speculative bubble in real estate, the stock market, and to some extent commodities. Inflation is also starting to bite, with the consumer price index up by 1.9 percent in the last month.
A sharp cut-back in bank lending, however, will cause a contraction in private demand, sending the manufacturing industry back to where they started — with a large hole in their order books. Welcome to the real world.
Japan: How To Turn A Financial Crisis Into A Total Disaster
Japan is a lot farther down the track than China. In an attempt to avoid the collapse of its banking system after the implosion of an enormous real estate and stock market bubble in the early 1990s, Japan embarked on a similar strategy to the one now pursued by China. Massive infrastructure spending and aggressive quantative easing, with the BOJ maintaining interest rates near zero for most of the last two decades failed to restore the economy to its former growth path. The new government now finds itself painted into a corner, inheriting massive public debt as a result of the failed stimulus program. The IMF expects Japan's gross public debt to reach 218pc of gross domestic product (GDP) this year, 227pc next year, and 246pc by 2014 (Daily Telegraph). With savings rates falling, further stimulus spending is no longer an option and the pigeons of the 1990s will finally come home to roost. Except they now closer resemble pterodactyls.
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