Yesterday was a momentous occasion. About three months ago, the weak, cowardly, and amoral Jerome Powell cranked interference with the markets up to an “11” with his free-money-for-big-banks Repo scheme, and of course the market did nothing but hit new highs every day. Yesterday, for the first time in nearly 80 trading days, we actually dropped more than a single percentage point. The poor dears!
Can you imagine an era where people are screeching and whining about a slightly more than 1% drop off of a Dow that nearly reached 30,000? Powell and his disgusting ilk have crafted a globe of self-entitled whiners, and it’s a cool drink of water on a hot desert day to actually see things flip slightly organic, even if just for a few moments.(more…)