This explains everything:
How To Monetize Idiots In A Post-Truth Idiocracy. For Fun and Profit:
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What Trump represents is America's final descent, into unfettered corruption. The last false prophet promising MAGA, he is the embodiment of the Republican legacy: a continuous stream of non-stop lying and rapacious criminality. The inevitable result of Ayn Randian nihilism taken to its logical self-destruction: a society lost in a sea of ad-sponsored mass delusion. Feasted upon mercilessly by industry-owned sharks.
This will be the downfall of the Republican Party and the new Herbert Hoover, right here...
1997 x Y2K x 2008 x 2016:
More capital is now at risk than ever before amid higher global risks than ever before. Average investors are totally clueless. They've been systematically led to believe that global selloffs, global trade wars, Fed double tightening, Y2K blow-off speculation, IPO pump and dumps, Emerging Market meltdowns, and oil wars, all occurring at the same time, are "buying opportunities". No need to ask where they got that idea from:
"The Obama-era rule effectively breathed its last on June 13, when a deadline for the DOL to appeal the Fifth Circuit Court’s decision to the Supreme Court came and went. The Trump administration has not been friendly toward the rule, which had required that all professionals offering advice on retirement accounts place clients’ interests ahead of their own."
The con man is good, very good:
"As president, Trump has promoted those businesses with his presence relentlessly. During his first 514 days in office, he visited Trump properties on 159 of them.
As demand rose, the Trump organization raised prices.
“The stars have all aligned”
When I started this blog, I asserted that Globalization would self-implode. "No one" believed me. Now it's actually happening in real-time. Still no one believes me. Which proves the historical axiom that you can fool all of the people whenever you want, like an ATM machine. The world is caught between denial and a hard place. Republicans are caught between a tax cut and a trade war. And there is no way out. But who could warn them, they don't trust anyone who can be trusted. Just remember the phrase "No one saw it coming", because you're going to be hearing it a lot soon...
Speaking of which...
Oil led all week despite OPEC's pledge last Friday to increase production. Completing the three wave retracement off of the 2014 decline:
Crude oil (black) with World Stocks (ex-U.S.):
"No one saw it coming"
This week is the end of the second quarter and first half of the year. The S&P 500 has been stair-stepping lower, each leg of larger magnitude. It's a waterfall crash in real time. Each decline coming overnight, followed by a BTFD rally during the day.
As we see via the chart above, the rest of the world is telegraphing risk, and U.S. gamblers are buying it with both hands...
Now here we have an IQ test:
S&P 500, :5 minute view (recent top, June 13th):
Zooming out to the daily view, bears got rinsed back through the 50 day to complete the quarter/half. The horizontal blue line marks the break-even S&P level for 2018. Skynet is trying to close the first half of the year in positive territory. Much better marketing that way.
Of course, as it was the last two times (circled), breaking this level is a clear shot to the 200 day which is now within convenient overnight gap down distance...
"The $30 billion that came out of global stock funds in total in the past week was the second highest ever and largest since the financial crisis"
The other reason the casino hasn't imploded just yet, is because this is Wall Street's biggest June pump and dump since Y2K:
Trump's counter-retaliation against Europe last Friday pounded the S&P -60 points on Monday this week. One more semi-literate tweet and this gong show explodes in his face...
Adding to the excitement, in response to the Indian Central Bank's request to slow quantitative tightening, the Fed will (automatically) accelerate balance sheet rolloff by an additional $10 billion/month, beginning in July.
To kick things off in style, an entire month's worth of liquidity removal ($30 billion) will take place this weekend, hitting the tape Sunday evening.
This strategy will continue until something implodes, more than likely everything at the same time, since there's not one part of the casino that hasn't rolled over. It's a tried and true formula, why stop now?
"Another week of this Johnson"
One way or the other, there will be fireworks in DonnyLand next week: