The descent into madness has been slow but relentless. Now Europe is charging people to save their own money - on asinine parity with printing money to inflate the stock market. And yet the all-things-fake Idiocracy doesn't even blink at this mass insanity. They just switch from full acceptance to full-auto with one click...
"The silicon chip inside her head
Gets switched to overload.
And nobody's gonna go to school today,
She's going to make them stay at home.
And daddy doesn't understand it,
He always said she was as good as gold."
[Boomtown Rats, I Don't Like Mondays]
The Greater Fool
It was an important week. The greater fool contest continued unabated - those of us skeptical before-the-peak, versus those who will be bankrupted after the peak. Elliot Wave International rose to the occasion this week putting out a major ALL TIME HIGH prediction as of Friday, for the Dow at current levels. And apparently their arcane wave rules - you know the ones that have had them wrong-footed for five years straight (and me for that matter) - , don't give them much wiggle room either. Basically either the Dow at the current level will be lethal to the future of mankind and lose 90% over the next 2 years on a scale worse than the Great Depression OR if it ekes out a mere .008% more to 17,061, this could all go on forever. Sure, whatever. The stakes are high indeed, or not depending upon how you look at it.
For my part - regardless of the direction of the next hundred points in the Dow - as always I predict that the impossible will end with extreme dislocation as of yesterday.
PEAK DOW PROZAC?
When the Dow Breaks, the Ammo will Fly...
Dow with volatility and volume, both at decade-low levels:
PEAK DOW PROZAC?
When the Dow Breaks, the Ammo will Fly...
Dow with volatility and volume, both at decade-low levels:
Their Fate is Sealed
One interesting article cited by EWI, was from the Wall Street Journal a month ago, which conveyed the sentiment of the average Etrader at this late juncture. My overall summary can be described as sad and pathetic. Retirement Investors Flock Back to Stocks (May 1st, 2014):
"Retirement investors are putting more money into stocks than they have since markets were slammed by the financial crisis six years ago"
"Stocks accounted for 67% of employees' new contributions into retirement portfolios in March"
"At the stock market's peak in October 2007, investors put 69% of new 401(k) contributions into stocks"
"Jerry Verseput, a financial planner in Folsom, Calif., said he has let the stock allocations in clients' 401(k)s ride well above normal levels as the market continues to rise: 'What am I going to do, buy bonds?'"
"Adam Rakunas, sold out of his stock-market accounts and moved the money to cash near the end of 2008. Now, he and his wife keep their 401(k) and IRAs completely in stock mutual funds. But if the market begins to drop - 'Oh, hell yes, I'll be quicker to sell'"
ECB @ Full Casino: The Illusion is Flickering
Speaking of the impossible, those ~20 of us skeptics who dare question the status quo, were given fresh ammo this week in attempting to prove that the impossible is not possible. This new negative deposit rate takes elitist desperation to an all new never-before-tried-for-a-reason dumbfucked level. Somehow they've managed to even surpass printing money to inflate the stock market in its level of asinine futility.
More high profile shootings @ Peak Dow Prozac
And these ever greater lies and attempts to maintain the status quo are now colliding with the outer boundaries of reality offering us a preview to future disaster. More high profile shootings this week in the U.S. and Canada as the masses attempt to reconcile the reality dissolving in front of their eyes with the lies they are expected to believe from our thought dealers. All while the oppressive weight of debt deflation bears down on the them like a 400% of GDP ton of bricks, as they attempt to keep-up-with-the-Kardashians despite having negative discretionary income. It's all a psychotic-inducing combination at manic Peak Dow Prozac.
VA investigation
The number one diversion this week was Bowe Bergdahl and whether or not a young soldier turned Taliban after five years in captivity is a "good American" or not. He will be judged by hockey stadiums full of patriots no doubt, all assiduously avoiding military service. And the Veterans Affairs scandal is important, no question. However, perhaps the Republicans can do their part in reducing the 22 veteran suicides every day by starting fewer wars and by reinstating foodstamp aid to homeless veterans, which they've cut twice already.
THE ILLUSION IS FLICKERING AND THE STAKES ARE HIGH ALL AROUND
