Friday, May 5, 2017

Make Bullshit Great Again

In summary...

Bulltards inhaled a fresh breath of desperately needed bullshit this week, even as the Commodities complex went into liquidation mode...The chasmic divergence between non-stop bullshit emanating from Trump, the Fed, and OPEC versus reality has never been wider. Today's "better than expected" payrolls report was a scrap of desperately needed flotsam in an ocean of denial. And yesterday's House Obamacare repeal was viewed as a step closer to tax cuts for billunaires...

But don't take my word for it:

ZH: 'Someone' Is Blowing Up
"Movement on US fiscal policy ["Tax Cuts"] is currently driving US rates and equities higher, counteracting the tremendous negative implications of this ‘Chinese tightening / deleveraging’ story and the impact this is having upon commodities"

Equity futures and US nominal rates are currently holding higher, despite what looks to be a total breakdown in crude oil and commodities turning outright ugly now.

The simple fact is that global liquidity--and thus, financial conditions as well--are tightening.


Margin calls are rolling in across the commodity complex

The reflation lie is GLOBAL in scale

We've never seen this before - Emerging Market stocks (black) versus Energy stocks (red) and Oil (gray):

A Macron win on Sunday is fully priced in and then some...

The Magic Unicorns are saved, for the moment...

"Give the healthcare money out to my various donors. I don't need any since I don't pay taxes anyways"