I get very, very nervous when things are going too well. There are times when every day is good, one after the other, and I keep waiting for something Really Truly Awful to happen. I guess I believe too much in balance. Of course, if “balance” is really true, then the bulls are in for years of unending agony, with me leering the entire time, so I’m not sure I should fear balance as much as I do. Nature’s lessons deserve respect.
All the same, we need to take things one moment at a time without overthinking the future. And, as of this moment, I couldn’t ask for a better greeting.
As I’ve said before, I don’t want a crash, I don’t want a panic, and I don’t want vapid whores like Mitch McConnell pretending they know anything about the economy (as opposed to the shameless graft of politics, which is the only thing their ilk understand) and going on television and saying how they’re going to “fix” it.
All I want is a steady, stumbling slide, driven by the same simple procession I’ve been talking about all year long. (a) a world smothered in debt (b) falling bonds (c) higher rates (d) suffocation.
I remain positioned aggressively on the short side, with 70 live positions and another 25 in the batter’s box. For I have seen the future of America, and it looks a lot like this: