So here we are again. The entire financial world is awaiting the ramblings of an old man who is going to declare which policies are best guaranteed to preserve his nine-figure family fortune. While at the same time hearing him utter his lies about how what he’s doing is for the common folk of the country. It’s sickening.
In any case, that’s where we are, all at the mercy of Jerome Powell and his minions. To my eyes, when I look at the path of interest rates, this chart doesn’t exactly scream to me “bull run“; instead, it screams to me “heading for negative values since that’s all our enfeebled economy is going to be able to support for years to come.“
As for equities, ever since we got that silly spike last Thursday (based on concession after concession from President Backpedal), we’e just been lingering beneath that little triangle top. Whatever Powell vomits up should resolve this quagmire.
As for me, it’s all quiet, except for one particular short – Federal Express – which is down about ten percent. Huzzah! This was one of the positions featured in my premium members post that came out Saturday.
