Friday, December 6, 2019

Owned By Trump

It's clear our time will come, just too late to warn the sheeple not to trust Donald Trump. The magnitude of this dislocation will be measured by the number of people conned by it i.e. everyone you know. Record carbon footprint for a biblical con job...

2019: The Year of Easy Money

This coming week is shaping up to be the most explosive week of the entire year:

Existential UK election, Thursday December 12th
FOMC decision, Wednesday December 11th
ECB decision, Thursday December 12th
Trade truce deadline December 15th

Any questions?

The jobs report was better than expected which put another bid under the fake reflation trade.

It takes a clown to love a clown:

Underemployment is the biggest economic issue of our lifetimes but it can never get resolved because too many criminals keep telling us this is the best job market of our lifetimes. Underemployment means a surplus of low wage dead-end jobs. Corporations constantly swapping out higher paid workers to maximize profit while the economy adds more and more debt to make up the difference.

"Good news, we have achieved 100% underemployment for the first time in our lives"

Labor share of the economy is the lowest in U.S. history. Divided by the largest population in U.S. history. 

One more bounce in cyclicals; I will go out on a limb and say the last:

(5g) semiconductors are the linchpin of this entire delusion. Also topping out:

Emerging Markets rolled over a full month ago.

At the last two tops EMs peaked first:

Also putting a bid under Ponzi reflation was the OPEC announcement today: 

Among the record new "highs":

Among the record divergences:

Make no mistake, this is how it ends. Clowns imploring us to ignore reality.

“Don’t let the armageddonists and the negativists and the hucksters scare you away from owning stocks.”