It was fascinating and interesting to listen to the Senate hearings yesterday of the failed bank CEOs from the likes of Silicon Valley Bank and Signature Bank of New York. I’m still making my way through it, because it goes on for yours, but it’s quite captivating once you get past the fact that these Senators cannot help but talk about themselves in the course of their grandstanding.
One thing that struck me is that it provided a rare opportunity to see what kind of self-delusional, slimy horse-crap goes on in corporate America while the companies are simultaneously projecting how sugar-sweet everything is. It’s a lie, a farce, and a deception, and the difference is that these rodeo clowns happened to have gotten caught.
I’m sure it’s like that, from Apple on down, and thus I’d like to indulge in a quick little fantasy based on the magnificently well-formed head & shoulders pattern on the Russell 2000 stock index futures. I know that in this fake, government-controlled “market” we’ve had since 2008 it’s hard to imagine something actually going down, but here is my fondest hope and speculation:
That is to say:
- A decent drop-off prompted, I suppose, by this debt ceiling thing semi-blowing up;
- Followed by a hearty rally prompted, I further suppose, but some suspicious grand bargain struck between the warring factions of this nation’s political parties;
- Ultimately followed by all holy hell breaking loose, since a debt ceiling increase don’t fix dick
Let’s extend this fantasy to the IWM itself:
I realize this crooked market doesn’t lend itself to such logical outcomes, but I wanted to go on record in the unlikely event that this transpires, at which time we can all get together and make a plaster-of-Paris monument to these charts.
