A Bigger, Fatter, Uglier Circus Clown

The capacity of the hairless monkey to entertain and amuse while self-destructing, is literally unlimited. This rock spinning through outer space has the children hiding under the bed. And I'll tell you why, because they don't really have faith in God in the first place. Contentment and gratitude being anathema to corporate whore aspiration...

"Is anyone home?

There is no pain, you are receding,

A distant ship's, smoke on the horizon
I have become comfortably numb"

Global markets are teetering on mega crash as the algo-driven tail is no longer wagging the dog. Today's zombies have bet the farm, their mental health, and their entire way of life on a fraudulent mega bubble and human history's biggest circus clown. 

Eleven months and $1 trillion in stock buybacks later, the S&P is up 1% on the year. Why? Because stock buybacks can't compete with imploding global growth. 

Yesterday:

"So many of them are baffled that we could find ourselves in this late-cycle dilemma that wasn't supposed to occur so soon."

"The situation reminded Cramer of when, on the cusp of the 2008 financial crisis, his corporate sources confided in him that the Fed "seemed to be out of touch ... with what was happening" 

Unfortunately for Cramer, beyond gambling recommendations, he is totally clueless as to how the economy actually works.

As I say all the time, the Fed has been boxed in by fiscal policy:

"The hike in interest rates triggered by faster growth from U.S. tax cuts may cause the bubble in credit to pop...global high yield bonds suffered their worst October since 2008 and continue to sell off this month."

Stocks, bonds, currencies and real estate are all overvalued"

The headline stories this week are...

Oil market annihilation:

The Brexit clusterfuck.

Exhibit A of a country attempting to retain all of the profits from Globalization without incurring any of the social "costs" aka. British Trumptopia. 

The latest dead semiconductor canary in the coalmine

"The company blamed the inventory issue on the passing of the cryptocurrency mining craze...miners have sold off their rigs, unleashing a flood of secondhand gaming chips like Nvidia’s Pascal-based chips and those made by AMD onto the market."

In the face of all of this economic turmoil, what "worked" all week was the recession trade:

This week was the worst week for junk bonds since February: