Yesterday, I was intrigued to see on how Bill Fleckenstein called Tim Seymour “a jerk” on the air, since Tim was needling Bill about missing out on the Fed-created stock market rally.
My pre-dawn dog walks are the closest thing I get to meditation, and as I walked this morning, something occurred to me: for the months leading up to the Olympics, ZeroHedge posted dozens upon dozens of articles about how catastrophic it was going to be. Everyone was going to get the Zika virus. Everyone was going to be held at gunpoint. There would be Islamic terrorists. The water was going to get everyone deathly sick. And on and on and on.
It is summer slack season, with no FOMC meeting in August and so into the void go our friends in the mainstream media, with all sorts of noise to distract investors. Here’s one that was anticipated…
From NFTRH 406 (July 31), after the July FOMC meeting in which they fretted about inflation not being high enough (ha ha ha):
“Yes yes, I know the Fed does not see enough inflation yet. And that is just the point. They told us last week that there is not enough inflation and damned if they are not going to keep trying to promote it. It is also worth considering that while they will probably send various expectations managers to their assigned microphones, there is no meeting in August and there is a lot of room for asset price appreciation between now and September 21, per their wishes I assume (by their policy inactions and their inflationary words).
What they didn’t tell us is that they are not stupid (misguided in my opinion, but not stupid) and they know that something built on inflation (metaphor: a substance with opiate-like qualities) must have ongoing inflation (opiates) in order to keep the markets (metaphor: patient) stable. Withdrawal of these substances would mean a come-down and financial detox that would seem like hell on earth to those who think any of this is normal or organic in anyway (like a Keynesian intellectual, for instance).
The game of Whack-a-Mole is ongoing and institutionalized. It is an exciting time to be an investor a casino patron. But we need to be aware of things like the music stopping, how many chairs there are when the music stops and our own egos, bias and limitations.”
Back when I was a youngster and had first moved to California, I saw ads for Alpha Beta supermarkets all the time, such as this one:
Here’s a break from charts as we wait for the Fed announcement at 2 p.m. EST…………..I’m a big Harry Nilsson fan, but the video below was one of his most bizarre ideas: to find a bunch of senior citizens and have them sing a song about how they’d rather be dead than wet their beds. It’s actually kind of sociopathic to have them do this, if you ask me, but it’s an interesting little time capsule………(and kind of a catchy tune):
My love of the original Star Trek has been mentioned often in the hallowed halls of Slope, and the 50th anniversary of the series is coming up on September 8th of this year. Leonard Nimoy’s song has put together this documentary, which is coming out the day after:
About a week ago, I mentioned in the comments section that a new documentary appeared on Netflix called I Am Not Your Guru, which is about Tony Robbins. Now, I’m familiar with who Tony Robbins is, because it’s pretty hard not to be if you live in the U.S. At first, I thought it would be some kind of tell-all take-down of the man, but it turns out it’s pretty much a two hour commercial for the guy (he did, after all, have total approval over its content).
I found it terribly interesting to watch, however. I tend to view the whole New Age-y, Self-Help-y, Personal Empowerment industry to be pretty vile. It strikes me as shallow, shamelessly opportunistic, and it tries to cloth itself in some kind of spirituality when, in fact, it’s 99% about making a buck. This clown on YouTube captures it nicely (and this isn’t a parody; he’s for real):