Wednesday, April 25, 2018

The Beatings Will Continue Until Morality Improves

Peak consumption
Peak corporate profits
Peak leverage
Peak speculation
Peak asset values
Peak delusion

The Idiocracy is boxed in by their own amoral bullshit. What can you say about an aging generation of thieves and con men willing to steal from Social Security, raid Obamacare, and plunder their own grandchildren to fuel their insatiable profligacy? Nothing good...

And yet, sadly there is no *free lunch* in markets, so with each tick higher in bond yields, ironically, the Trump tax cut is monkey hammering stocks. The inevitable consequence of fiscal impropriety, unforeseen by a generation of thieves and idiots.

Who would tell them this could happen? Wall Street? Car-Salesmen-turned-investment advisors? Larry Kudlow? CNBS?

It's Supply Side Ponzinomics taken to its level '11' self-destructing conclusion. 

"With the 10-year yield hitting the 3 percent mark, financial markets around the globe have fallen, with European and Asian indexes trading in the red Wednesday."

CNBC: The Final Rotation Back To Cash Is Underway

"While everyone on Wall Street is pounding the table over the rising 10-year yield, the 2-year note rose above 2.5 percent Wednesday, a level it last saw in July 2008, just two months before the financial crisis imploded with the collapse of Lehman Brothers."

Unfortunately, global speculators are out of ammo

"They had nothing left to sell"