Want to read a word salad? This is from the Communist dictatorship of China regarding their “economy“. You might want to have an air sickness bag nearby. Here we go:
“It is necessary to help enterprises tide over difficulties. It is necessary to look at the current economic situation comprehensively, objectively and calmly. Face up to difficulties, strengthen confidence, and effectively enhance the sense of responsibility and urgency to do a good job in economic work.”
You get all that? Feeling OK? I’ll understand if you need to lie down for a while. Anyway, the preceding nonsense was their sweaty-handed explanation about why they’re firehosing TRILLIONS of Yuan into their so-called economy, since their real estate market is collapsing, their equity market peaked years ago, and the only thing they care about besides money – – brutal power over the masses – – is being threatened. Thus, they got out the thesaurus, found all the words they could related to confidence, and let fly with their verbal money shot.
Not to say that it didn’t work. The FXI, which was already blasting higher this week, went into absolutely ape-shit mode.
And individual stocks like Alibaba and JD.com, which had withered away to a fraction of their former selves, likewise blasted higher.
Want the greatest sell signal of all time? Look no further than me. I’ve reached my complete breaking point with respect to all this government interference. It is absolutely causing me to lose my mind, and I haven’t had a complete night’s sleep for weeks. So I’ve moved ALL my cash out of the brokerages and am sticking with a handful of “well, maybe it’ll work out eventually” positions.
Putting it another way, the white flag has been hoisted, and I’ve never despised markets more than I do right now. Based on that alone, you know what to do.
