Good Morning,
The impossible math is finally catching up with the stupid who refuse to believe there is anything “fundamentally” wrong with the U.S. economy. Impossible math just is, and those who did not and still cannot see it for what it is simply must be very close relatives of the Gump family.
Stocks are continuing to act like a submarine avoiding the depth charges, the dollar fell on the S&P downgrade but is now rising with the deleveraging, bonds are higher too even though they are worth less (subtle pun), oil is crashing now down to $82, Gold is leaping tall buildings in a single bound now above an amazing $1,700 an ounce, silver is higher too, and food commodities are lower.
There are no meaningful economic reports today, the data is light all week with the highlight of the week the “Fed’s” FOMC manipulate you some more meeting of real world irrelevance. Well, I guess creating the debt saturation Ponzi is relevant, unfortunately – especially since these criminals are the source of the impossible math. And like a festering boil, it will only get better if you lance the wound and remove the poisonous traitors that are sickening the overall system.
The S&P downgrade is a big deal. S&P is owned by McGraw Hill, who in turn is owned by a very wide range of institutions, thus it’s difficult to pin a manipulate the market moniker on them – although they most certainly have by overrating just about every debt they monitor including our nation’s debt.
China says US 'Good Old Days' of Borrowing Over, and their reasoning’s may sound insulting to a Gump relative, but to anyone with any sense whatsoever it is just simply the truth (remember that… quaint and old fashioned, I know) “China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve currency.
"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," China's official Xinhua news agency said in a commentary.”’
Traitor Buffett, of course, prefers to ignore the impossible math he helped to create and claims that S&P made a mistake. The private “Fed,” of course, also denies reality and responsibility saying that it simply doesn’t matter (except when we want to threaten the markets), that there will be no change to the bond markets. The stupid here is not the “Fed” criminals, it’s us for not yanking their lying you-know-whats out of our money system.
There were 852 new 52 week lows on the NYSE Friday. As a reminder, the H&S targets are 1,130 on the S&P, 10,900 on the DOW. Does TA matter anymore? Well, the G7 is supposedly going into an emergency meeting this week and according to them will “do whatever it takes” to stabilize global markets. In other words they are going to backstop the symptoms of impossible math with more impossible math on a global scale – lovely, that’ll work.
Whatever… none of its real, your loss in the markets is definitely someone else’s gain. I’ve been warning about the market fluff forever, oh, and I’ve been telling anyone who will listen to own gold ever since it was $250 an ounce. Is now the time to sell? No, not while you still have the G7 thinking they can fluff up global markets and not while the private “Fed” is still in existence.
It’s going to take “other events” to clean them and all their ponzi debt schemes out. Those other events are percolating just below the surface – you can feel the tension, it’s there. Thirty dead Americans in Afghanistan, tensions rising in Syria, a gunman goes on a rampage killing 8 and it barely gets noticed in the headlines.
Run, Forest, RUN! Stupid is as stupid does…