We live in a society of hardcore sociopaths who blithely assume that no consequences will arise from non-stop lying. That is the entitled fantasy that led to the lowest casino volume in over a decade, and the lowest volatility ever, despite unprecedented risk...
"U.S. stocks showed resilience amid financial turmoil in China and President Donald Trump’s firing of FBI Director James Comey. But with first-quarter earnings coming to a close and equities near the highest valuations since the aftermath of dot-com era, investors are reluctant to take on more risk.
For 14 straight sessions, the S&P 500 has been both within 0.5 percent of its all-time high and stuck in a 0.6-percent trading range. A similar stretch of stillness has never happened before, according to data compiled by Bloomberg...Along the way, the CBOE Volatility Index sank to 9.77 on Monday, the lowest level since at least 1993."
The rationale for blogging, from my perspective, are 1) To maintain sanity amidst societal breakdown 2) The fatalistic belief that there are inevitable consequences arising from denial of truth 3) To "hedge" against collapse, by whatever means is deemed (locally) appropriate
This week, the serial lying, obfuscation, and asinine contortions from the Forrest Trump experiment reached levels that left even the apologists for Idiocracy speechless. The meme of the week was White House spokesperson Sean Spicer hiding in the bushes to dodge reporters, post-Comey termination:
"Straight outta da bushes"
In other words, the bar keeps getting lowered, yet the "consequences" keep getting assumed away. Why? Because the second derivative of decay is wholly ignored. These are the hallmarks of a true old age home - always assume someone else is "next", and never see it coming. We've inherited this sad property from the Japanese, who are still partying like it's 1986:
This week, the Macron win got priced in globally. And Tech guru Wally Buffett dumped IBM so he could triple his position in the world's most overowned stock, based upon his knowledge of furniture.
And while he was buying this:
His now second largest holding was doing this:
Which is deja vu of, this:
Because lo and behold, the economy is doing this:
Which is driving this: