July 16, 2008 DJIA 11,239 So the question is: do you want the band-aid off fast or would you like it to take 8 fucking years. We've chosen the latter, so guess what, you cannot be long stocks or buy a house for any reason other than wanting to light hundred dollar bills on fire until around 2012 which I think is when the world ends anyway.Here it is. We need the market to clear. That means we need the indexes down hard, we need several of the dumbest banks to fail, we need Paul Volcker to come in and jack rates, end inflation and sure up the plummeting dollar.
The guys in charge now are so compromised, so lacking in credibility, yet they keep tinkering around trying to plug holes where there are none, because guess what?
THERE'S NO MORE DAM, it's gone baby gone, you (we) are so under water, and messing around with short sellers, trying to bail out another I-bank, socializing risk is both prolonging the pain and making it worse.
But they will continue to take asinine steps like they did today because it's in their DNA. It's the strand known as the: Let's Keep Fucking Around With This Hand-Grenade Gene.
So tinker on, play politics, help out your idiot banker friends, you might get few hundred more points, maybe even a thousand, hell anything's possible, you may even get another bubble. Tinker on my friends, you cannot help yourselves, I know.
But, one thing is certain. This tinkering. . .will end in tears.
Aug. 25, 2008 DJIA 11,386 So yeah, I'm still bullish on this country 20 years out. Still believe we have a wicked awakening upon us in the markets and perhaps a depression, but we'll come out of it. I think we'll be all right now. I think so because Michelle Obama just delivered 5 million votes.
Sept. 18 2008 DJIA 11,020 Yeah, it gets better. Hedge Funds are a huge part of the economy. These funds are enormous, like massive beyond even the banks, which all just went out of business btw. As these funds blow up, and they will blow up at lightening speed now, they will need to liquidate, and this unwind will make the last week seem like a walk down Main Street Santa Monica -you know, like after yoga class you float over to the vegan cafe, have an elixir, jump in the ocean, fly your new kite, but i digress. . .
. . .So, the good news is the Market will rally hard, I mean hundreds, maybe a thousand points. (Sept. 18-19 DJIA rallied 800+) This will be followed by lethargy.
Which will be followed by the biggest crash in the history.
Oct. 9, 2008 DJIA 8579
*Oct 6-10, 2008 DJIA & S&P 500: worst weeks in history
