Living In a Fool's Paradise

Kind of a mixed bag in the world of news so far today.

This morning in a Bloomberg news story, I read that JP Morgan is releasing the funds it seized from bankrupt MF Global. Account holders who lost all of their money will get back about 93% minus the loss of investing power one gets from possessing your own money since Halloween day, 2011.

So there's that. I have never been surprised that the government's bank, JP Morgan, was at the heart of the MF Global scandal. They continue to be the greatest criminal enterprise in America- second only to Congress. http://www.bloomberg.com/news/2013-03-20/mf-global-inc-trustee-reaches-agreement-with-jpmorgan.html

Freddie Mac is also suing JP Morgan, the criminal enterprise, over manipulating libor rates. Another shocker. http://www.bloomberg.com/news/2013-03-19/freddie-mac-sues-multiple-banks-over-libor-manipulation.html

The worst story of the day. http://news.yahoo.com/worker-admits-cutting-10-babies-abortion-clinic-171908888.html

Unlike perennial stock cheerleader Warren Buffett, legendary investor Jim Rogers has now declared that we are living in a "fools paradise." I giggled when I read that. There are a lot of people that agree and many of them are pointing to some very dark clouds on the horizon. This is an excellent article that explains why. http://moneymorning.com/ob-article/jim-rogers-major-crash-ahead.php?p=PPYRP206&utm_campaign=content&utm_medium=cpc&utm_source=taboola#.UUlYdBz5knY

Gold bug Jim Sinclair says the bottom is in for gold at 1600. He does not believe it will retrace below those levels. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/14_One_Of_Legendary_Jim_Sinclairs_Boldest_Predictions_Ever.html

I have gold down 4 bucks at 1607 in the futures market but I think that may reverse. Equity futures are much higher because that ten billion in POMO money the FED has handed out since last Friday has to go somewhere. Just a paltry ten thousand million.

Dow futures up 65. The media never mentions POMO. Today they say the markets are up and breathing a sigh of relief over Cyprus as they try to find Plan B.

Equities are still ridiculously priced.

Whirlpool, that sexy-high growth appliance company, only trading at 116 bucks a share.

One of my favorite short selling ideas is Boeing. Even after losing a 220 jet order to rival Airbus, union unrest, sweeping away the Dreamliner bad news, and trading near it's top at the 86 dollar mark- how much higher can it go? It has already more than doubled off the 09 lows.

A lot of ripe fruit in the fools paradise.




Comments

Anonymous said…
We can all agree on congress being the greatest criminal enterprize. But maybe we should extend it to all of government.
March 20, 2013 at 8:53 AM
Anonymous said…
Hi Brian, Just remember Boeing is a very large goverment contractor. Besides airplanes they are also principal designers of that wonderful new creation "THE DRONE". I think we both know that Boeing is in T.B.T.F. club.
March 20, 2013 at 11:07 AM
Post a Comment

Popular posts from this blog

It's Showtime Bitches!!- The Sunday Collage

Image
 Today, they convicted Former President Trump today on 34 counts of make believe bullshit fabricated from a 17 year old tryst with a porn star.  At it's very worst, Donald Trump may have gotten a piece of ass on the side. He may have used campaign funds to give Ms. Daniels 130,000 to shut up about it. He may have (gasp) lied. Let's conjure up some perspective. Of all the whores in the Whitehouse, JFK was probably the worst. Kennedy was a well documented sex addict. The "Stormy" of his day was a film star named Marilyn Monroe. Men (and women) have been screwing around on their spouses since time began. Millions upon millions and probably billions. Clinton paid Paula Jones 7 times what Daniels received. Where was the big witch trial then? So men like to get laid. Unscrupulous women provide vaginas. There is nothing proprietary there. No news flash.  The US government spends 100's of billions of dollars a year on welfare, wars, shitty student and housing loans, bond ...
Read more

Was It Worth the Trouble, Mr. Trump?

 Several years ago, as Ann Coulter (2016) was being laughed at for predicting the Trump presidential win, I was reading a piece about why working-class America was supporting a billionaire. It was a nasty piece, a hit job, explaining that poor, working class Americans were a bunch of dupes enamored by wealth and fame. Deplorables, according to Hillary. It was also total bullshit.  Over the years after Hillary Clinton, perhaps one of the most highly effective criminals in America lost her bid to become President, I came to understand the widespread appeal of Donald Trump. It wasn't polished bullshit, it wasn't party support, experience, or a career of broken political promises. It was something else entirely. Something that I treasured.  To be sure, I was not a Trump supporter back then. I am a strict adherent to George Carlin's political views in that we keep electing these rich assholes and nothing changes. So I skipped the voting process in 2016 for that reason and also...
Read more

9 Million Counterfeit Ballots- The Sunday Collage

 Earlier this week, graphs started popping up on X and other places. Most of those graphs showed the steep and dramatic increase in popular votes that occurred in 2020 and compared the elections of 2008, 2012, 2016, 2020, and 2024 for context. Beyond any doubt, democrat or republican, the popular vote totals for Biden in 2020 were astronomical. Many charts reflected raw data as it stood on Wednesday and Thursday. Some showed a difference of as many as 18 million ballots cast for democrats compared to previous elections and 2024. Those early charts did not take into account that California was still counting. Counting votes in California is apparently a Herculean task unlike Florida who had their votes counted in a few hours after the polls closed. Thus we are left with the rusty machinery that counts votes in California by either necessity or design. California still had at least 8 million votes to count and Arizona still hadn't finished counting either. By extrapolating what's...
Read more