The economy looks pretty damn good . . . to the inflation profiteers!

 

Earnings aren’t yet painting anything like a picture of an apocalyptic profit slowdown

Not flying at all is my way of fat-shaming people

Hey look, Biden throws another last minute Hail Mary to buy votes with less than 3 weeks to Election 2022!

 

Biden to announce release of up to 15 million barrels of oil from Strategic Petroleum Reserve

 

Biden has cut the emergency reserve from 33 days supply to 20 days, with more cuts to come. 

"Wouldn't be prudent". -- Bush 41

 

 

 

Hey look, another inflation trade!

Fewer units sold at higher prices yields . . . profits!

We are at the bottom of this food money chain.

Procter & Gamble’s earnings beat as higher pricing offsets drop in volume

Jay Powell is only appearing to be serious about battling inflation

 The only thing Jay is doing about inflation is making sure everyone thinks he's doing something about it, while making sure there remains plenty of spread for his pals to trade off it.

Currently the spread is 5.12: Inflation at 8.2 minus an effective funds rate of 3.08. This is a golden opportunity for the banksters and everyone down the food chain until it reaches you. The banks are getting rich off it. Wall Street is getting rich off it. Corporations are getting rich off it. And, of course, the stock market investor parasites are getting rich off it.

You get left holding the bag of all the price increases jacked up under the guise of the general condition.

 

 

 

Three years ago there was no spread: -0.03. Nothing there to exploit.

The banksters LOVE LOVE LOVE this inflation:

Bank of America said Monday that quarterly profit . . . topped expectations on better-than-expected fixed income trading and gains in interest income . . . third-quarter profit fell 8% to $7.1 billion.

The bond market is not happy.

In Rama a voice is heard, lamentation, weeping, and great mourning . . ..

I would like to come back as the bond market . . . You can intimidate everybody

 Yippee-ki-yay.

 

 

Long US Treasury and Investment Grade bonds both made new 52-week lows again last night

Yippee-ki-yay.

 

Bond vigilantes be like . . .

 Yippee-ki-yay, motherfucker.

 

Through Oct 14 the traditional 60/40 401k portfolio is down a net 21% in 2022, not counting inflation

 Bonds are supposed to perform well as the safe haven asset when stocks fall, reducing the net impact to the portfolio when equities decline.

But not this year!

Bonds have actually crashed on the long end, down even more than stocks, as stocks entered a bear market.

The bond crash is a market statement rebuking the spending those bonds have represented: Not enough return for the risk.

So far the spendthrift Congress remains tone-deaf, leaving it to the Fed to raise interest rates . . . ever so feebly.

No one in his right mind believes raising interest rates 300 basis points is going to have much impact on inflation raging at 800 basis points.

That's because spending money you don't have to save the economy destroys the economy

 

Dems Spent $2T to Save Economy, But Won't Talk About It

Jim Tankersley, NYT

You can't get this kind of information just anywhere, and you know why

Wawa shuttering two Philadelphia stores amid city's retail crime surge:

Retail theft is up more than 50% in Philadelphia

Jim Cramer's stupid people who made a lot of money on Oct 13 weren't stupid until today, when they gave it all back, lol

Jim thought the market would tank on the inflation news. Instead it rallied.

But the market took it all back today.

Jim is nothing if not entertaining, as are other market cheerleaders.

Gayed meanwhile fully expected the rally to continue today.

Tonight there is much weeping and gnashing of teeth behind the brave faces.

Traditional 60/40 portfolio fails to protect investors when both stocks and bonds dive: Worst in 100 years

 

CNBC S&P 500 chart doesn't show the 2022 low-to-date on 10/12/22 like Yahoo Finance and Google Finance even though they mentioned it

 

COVID-19 is over: Drudge no longer features stats

Food and energy are bad enough, which core inflation would you rather have?

 

Democrats underestimate the power of Crimea as a political liability

 

GOP Overestimates Power of Crime as a Political Issue

Walter Shapiro, New Republic

 

AOC Receives Backlash At Town Hall: "You're Voting To Start A Nuclear War With Russia And China"; "You're Establishment"

France is upwind

 France Says It Won't Deploy Nukes If Vlad Uses Them Against Ukraine...

Debt draws forward prosperity -- Ambrose Evans Pritchard

 

Payback is a bitch, or why everything sucks

Debt stopped buying economic growth, if it ever did in the first place, way back in 1982, but no one has seemed to notice.

Prosperity based on debt is not prosperity.

Debt draws forward prosperity, and then when you get forward, there's no prosperity there because you already made off with it.

It's like the polar explorer who starved and froze to death because he ate the food caches on the way to the pole instead of saving them for on the way back.