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Not exactly a restful night, is it, folks?
I’ve been waking up about every hour. It seems to me today is going to be one of the biggest crashes in history. Anything which is an “asset”, with the exception of bonds, is getting annihilated. Even gold, which initially screamed almost $60/ounce higher after the shock event, is getting killed.
Oh. My. God. This is so awesome.
I have spent the weekend beating myself up for not being totally short. I watched with chagrin as the weekend indications showed the Dow dropping 1100 points at the opening bell on Monday. And yet, God bless ’em, the Federal Reserve and its timorous chairman, Jerome Powell, have absolutely panicked. As described over on ZeroHedge, the measures they took include:
(more…)First of all, please note for all paying members (including Bronze and Silver) there is a double-header companion piece called Crucial Details which you should watch. It has two important videos for you.
This is a vitally important juncture for the market. Emotions are running very high, and it sounds like a lot of folks are considering stocks to be “on sale”. My point of view couldn’t be plainer: I believe the Fake Bull Market that started March 2009 died on February 20, 2020. We will not exceed those highs for many years to come (unless some form of hyperinflation takes hold, at which point the nominal figures become meaningless).
(more…)Many of you know the name David Stockman. He was Ronald Reagan’s famous budget director for the “Reagan Revolution” , a Congressman, a money manager, and author of what I consider the greatest business book ever written, The Great Deformation. He is, incidentally, a paying member of the Slope of Hope, and I have had the pleasure of corresponding with him.
As my over-the-top review of his book suggests, I consider Mr. Stockman a stunningly superb writer. Besides his excellent books, he also writes a five-times-a-week missive called Contra Corner, of which I am a dues-paying member. He wrote me about a week ago and suggested Slopers might find it appealing, as I do, so he suggested (unprompted by me) promoting Contra Corner here on Slope. I readily agreed.
Here is his “pitch” below. I am, let’s just say, a thrifty soul, and Contra Corner is the ONLY thing I subscribe to. I’d urge you to consider signing up, since he offers a vantage point I don’t think you can get anywhere else. So here’s David……………
(more…)I’ve been waiting years to show you this:
