The people buying this last leg up in the casino were not the bulls, they were the bears. The last ones who could be forced to believe in the impossible. The only reason we know this won't work is because it hasn't worked for 35 years straight. RepubliCons have taken their failed ideologies to their logical dead end. Proof that there IS a God. And a vengeful one at that...
EVERYTHING is now riding on the tax cut. Trump even conned Wall Street this time. No small feat, following the Big Short in 2008. Tax cuts are like crack cocaine for Republicans. It would be nice if they knew someone honest enough to warn them...
"I will bring my vast business skills to government"
Here is where it gets interesting. As we see in the first chart below, Wall Street bet against Donny twice - once during the election, and again this past summer when the Obamacare repeal clusterfuck was taking place. Both times, they got monkey hammered. So now instead of beating him, they've now decided to join him.
But don't take my word for it:
Wall Street has capitulated to fake reflation.
Just the opposite of how they bet in 2007:
Taken into consideration with their historically unprecedented oil bets:
Their colossal (short) volatility bets, and record overbought casino:
We see that everything is now riding on, the tax cut.
Nevertheless, global currency gamblers who hold the keys to this entire charade, are not wholly convinced. They believe that giving tax cuts to the ultra-wealthy and interest rate increases to everyone else, has never worked in the past 35 years, and won't work this time either.
They believe this to be just another global con job
Not the first one by any means. But the last...
Isn't it nice when the rest of the world can give a *free* vacation from volatility, as ephemeral as it may be?
After all, not everyone got a tax cut...
As far as BitCasino goes, for almost a month straight, $13,000 was steadfast support. But earlier this week that broke, and Bitcoin quickly crashed to $9,000. Now $11,000 is support and $13,000 is resistance. $11,000 being the all important wave '1' low.
If this count is right, it's about to get fugly for crypto ponzi schemers. At which point, "Ponzi guru" Jimmy Altucher won't be spamming me with $hitcoin ads anymore. I don't recall Bernie Madoff taking out ads on Zerohedge, but we know one thing, if he wanted to they would not have had the slightest reservation...
