I started working when I was 14 years old, and I haven't stopped since. In that spirit, here it is, Sunday night, and I've got a very exciting project to work on, so I haven't been blogging. I have, however, been watching all asset classes gettingg bloodied thanks to the tiny little country named Cyprus, which is suddenly on everyone's lips (or at least their Twitter accounts).
Anyway, that disgusting douchenozzle duo Bernanke+Yellen will put an end to this reality soon enough, but I think we'll be permitted a trip to 1520 before the cabal clan colludes again.
SlopefestV!: The time rapidly approaches for the gathering of THE Tribe, Slopers from around the country and even beyond. Now scheduled for May 18 and 19, 2013 in Las Vegas (where else?). Come and meet with old friends and make new ones! Match up avatars and handles with REAL people!! I can guarantee you one thing in this life for certain, you will have a great time! With any luck, our gracious host, Mr. Tim Knight, will also join us. For those of you who have not met him in person, you are in for a treat. Though notoriously reclusive and a home body, perhaps he can be persuaded to get out of Palo Alto and join us for a rollicking good time.
ZeroHedge is jammed to the gills with stories and commentary about what's going on in Cyprus. Here are the headlines from four consecutive stories:
It would seem that all the bears are itching for the Euro and e-mini markets to open so they can watch the blood start to flow. The whole Cyprus fiasco does seem like awfully big news.
But a glance at MarketWatch, where Ma 'n' Pa Kettle get all their market information, seems to yield a different picture of the world:
There's a huge article on the "10 Happiest States" (Jesus……..), and a car review, and an article about how Apple is at risk of ending its streak (Streak? What streak? Is AAPL some kind of big winner now that it stopped its plunge after losing a mere 40%?)
But if you look really, really closely, you'll see a tiny headline (I've courteously provided an arrow) that makes mention that depositers will be taxed for the bailout, which sounds like the most boring and innocuous story on the planet. The kind of story that no one would bother clicking, because who the hell is Cyprus, and is she related to Mila Kunis?
Is the Cyprus bank deposit confiscation move the "butterfly flapping her wings which ultimately causes a worldwide hurricane"?
The Euro elite and the IMF sought to punish the horrendous bank lending practices of Cypriot Banks by taxing their depositors, and not make the owners of the banks take a haircut, in order for the government to get a bailout. Now if you are a depositor in Spain or Italy and you know a bailout is required, would you keep your money in a bank account?