Friday, December 2, 2016

Welcome To The Hotel Californication

A society as corrupt as this one will never see it coming...

"After Donald Trump ridiculed Wall Street on the campaign trail, the President-elect tapped former Goldman Sachs Group Inc. executive Steven Mnuchin to be his Treasury secretary and billionaire investor Wilbur Ross to lead the Commerce Department. Trump even met with Goldman Sachs President Gary Cohn inside Trump Tower."

"Goldman’s stock price gain of $41.44 since the election added about 284 points to the Dow, which would account for about 34% of the Dow’s 838-point gain. Add in J.P. Morgan’s stock price gain of $11.57 -- worth about 79 Dow points -- and the two banks have accounted for 43% of the Dow’s gain."

"Thanks Donny, we knew you were another corrupt charlatan who would win back the ever-dumber base for us. Brilliant strategy"

BBG: Nov. 16, 2016
In the week following the election, the Financial Select Sector SPDR exchange-traded fund amassed $4.9 billion of inflows — a record, and more than it accumulated in the past three years.

JP Morgan with Russell/Dow Ratio

"Aw fuck, how did this happen again?"