Friday, November 3, 2017

Wall Street Has LBO'd The United States

The Idiocracy just bought record highs on record lies. Because what else would they do?

Faux News and lies are like crack cocaine to the Idiocracy. Bagholding gamblers gleefully bought record bullshit with both hands, amid the highest bullish sentiment since the last major RepubliCon tax cut 30 years ago. It's been quite a week for lying. And short-covering...

"You see what you do is as stocks go higher, you increase your buying, because your risk is actually going down. That's why volatility is so low. It has nothing to do with the fact that you've been conditioned like a trained monkey to buy every dip without question. Don't worry, we'll be on the other side of the trade"

Let's see...
A Fiscal lie
A Monetary lie
A jobs lie
An OPEC lie

CNBS: Record Highs Across The Board On Record Lies Across the Board
"Chief economist at Glassdoor, said the BLS report "underlines the strength in the economy"

Zero percent interest rate policy offers infinite return on investment, culminating in mass corporate bankruptcy. But don't tell today's exploitation class, they still believe in a Supply Side economy and the jobless consumer - beneficiary of all free trade agreements. The erstwhile economy is wholly irrelevant now that we've discovered that debt is GDP and printing money to inflate stock prices is the secret to effortless wealth. A Japanified aging society has extreme preference for return on capital over return on labor. Hence the fabrication of "Supply Side Economics", the dumbest fucking idea ever invented, by the dumbest fucking society that ever walked the earth. Now led by Circus Clownius, the last emperor. Apparently it never occurred to these people what happens when there's an economy with unlimited supply and no demand. The return on capital collapses to the limit approaching 0% just prior to going deeply bankrupt. 

Hard to believe, but this week RepubliCons are taking from the poor to give to the rich again. Taking failed policies to level '11':

"The major tax cut proposed by House Republicans is “the biggest tax giveaway to giant corporations in modern memory" - Sen. Elizabeth Warren

And apparently it never dawns on them what happens when Baby Boomers retire en masse. Like right now. On average 10,000 Baby Boomers turn 65 and (most) leave the workforce every day. Which means reduced labor participation and lower average wages, since those exiting the workforce have higher wages than those entering. It also means less money going into the stock market and more money coming out...

ZH: October Payrolls Miss By One Standard Deviation

"The far more important average hourly earnings number, which was expected to rise at a 2.7% rate Y/Y, also missed"

"Who needs jobs and wages when we have iPhoney 10++?

Also this week:
ZH: Nasdaq Record Skewed to Mega Caps Apple

This Jedi Mind Trick works as long as volume never rises again, like it is now...

"I've seen this before, I just can't remember when..."

"Priced In"

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