I just came back from downtown Palo Alto. Since it’s the apocalypse, no one is around, so I took it upon myself to teach one of my children how to drive. Here’s a snapshot I took of what normally is the busiest street in the city.(more…)
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
For those of you who might have missed it last weekend, I announced that David Stockman’s Contra Corner was available for subscription by way of this link. To me, this is like catnip. I read it with relish every weekday evening. Here’s an excerpt from the most recent missive:
But at least back then, the Goldman Democrat in the White House, Secretary Hank Paulson, brought a semblance of competence and restraint to the dark business of pumping trillions of loot into the coffers of crony capitalist supplicants.
By contrast, this time we have a pathetic Goldman flunky, Steve Mnuchin, who is familiar with bailouts only because he got a $3 billion windfall from Uncle Sam last time around for taking virtually no risk during the pointless resurrection of a busted Savings and Loan called Indy Mac, which had absolutely no reason for existence.
Well, of course, he also helped Eddie Lampert load up the venerable Sears & Roebuck with crushing debts to fund massive self-serving share buybacks, thereby obliterating a chain of nearly 4,000 retail stores across America with $50 billion of sales in world’s record time.
Now—just one month after crowing about the stock market’s record high on February 19— this knucklehead has been put in charge of dispensing $1 trillion in Federal bailouts to a veritable soup line of corporate supplicants who have no one to blame but themselves for the alleged cash crunch now upon them.
It appears I’ve struck a chord. This thing is getting liked and retweeted like crazy. If you don’t follow me on Twitter yet, please do so.
I probably shouldn’t say anything, but I just gotta………
I went to log on to Bank of America. And on the home page……….(more…)
I have kept track of every short from last month (although long since covered) from my entry point. Just for the hell of it, here are the three short sales which have lost more than 70% of their value from my entry point.(more…)
I’m going to sound like I’m full o’ crap, but I sold all my long positions earlier today, every one at a profit. By no means did I sell at the peak of the day, but this market is incredibly fragile. As I stand here now, I’ve got one position – short XLP – and that’s it!!! I’ll probably spend the foreseeable future just doing daytime scalping with no overnight positions. Maybe.,
Just listen to the whole thing and see clearly for the first time. Come on, you could use a break from charts. Or at least give your ears some entertainment./