Friday, June 22, 2018

The Imploder-In-Chief. Never Disappoints

Skynet is heading for a mental breakdown, due to bullshit system overload...

The Dow opened solidly green for the first time in nine days today, to forestall the curse of Saturday Night Fever; fortunately Donny stepped in to make things a tad more challenging for Skynet. In case anyone was looking forward to a boring weekend...

First off, this was a difficult call, predicting what they've always done in the past:

And this has to be the best dumbthink line I've read all week:

"Producers agreed to start pumping more so that they are no longer overshooting the production limits they agreed to in November 2016"

We raised the limit, to ensure that we're not overshooting the limit. Because otherwise people would say that we're cheating. Holy fuck, we're doomed.

But it gets dumber, because it's abundantly clear that the realtor-in-chief doesn't understand economics, finance, markets, or anything really. Which is fine because today's EconoDunces don't understand economics either. They understand supply and debt just fine, they just don't get supply and demand.

I hope for greater competition to implode our domestic oil industry, deja vu of 2014, but this time with feeling...

Oil is bid today due to short-covering, but needless to say, Donny will get his way. Solve this equation for a happy ending: Make Energy Great Again by flooding the market with too much oil:

#REF: Does not compute:

Short-covering in oil, shocker:

It gets better or worse, depending upon how much crack you've been smoking. When Trump was forced to back down on his child abduction scheme in order to save the midterm elections for his fellow RepubliCons, you could count the seconds until he lashed out at someone else, to placate his base.

Having duly monkey hammered China and Canada this past week, it was now Europe's turn. 

Paging Jimmy Kunstler, I think you need to work on your boss's grammar, son. I can only make out the part about the 20% tariff. Maybe take away his crack pipe while you're at it:

Happy Monday

Speaking of electronic meltdowns, BitCasino is getting smoked to what will be a new closing low. Which also does not portend a boring weekend:

"Roughly 60 percent of weekends since December have seen a 5 percent move or higher over a weekend, and 82 percent of weekends have had at least a 3 percent move in either direction"

Prices can move dramatically since "there's not much new money coming in to support prices"