Now we will see how today's imaginary capitalists enjoy real capitalism, sans bailouts...
"Once I stood to lose her
When I saw what I had done
Bound down and flew away the hours
Of her garden and her sun
So I tried to warn her
I turned to see her weep
Forty days and forty nights
And it's still coming down on me"
Surfing the intellectual black hole of Zerohedge I came across a meteor strike article only I would find interesting. It informed us that two asteroids will be vapourized by Earth's atmosphere tonight. For me, it was a reminder of the miracle of the blue planet and the natural protections built in to the only habitable planet in the known universe.
A stark reminder of all that we take for granted.
It was clear this week that Mother Nature stepped in to protect the hairless monkey from ourselves. No question, many will die from this virus, many more will suffer. Unlike the virus itself, the economic impacts of this Twitter-ordered economic implosion will reverberate for decades. Nevertheless, this was arguably the most innocuous way to end global self-destruct mode.
All of those prognosticators who until now were predicting inexorable population growth and inexorable carbon expansion as far as the eye could see, were this week proved instantly wrong.
Few people seem to comprehend what this event will do to the all-important birth/death ratio. This virus overwhelmingly selects against the elderly as do the economic impacts. Meanwhile, young people will postpone family formation for years. Immigration is a thing of the past. The largest mass migration in human history - which only a month ago was considered a human rights crisis - is now deemed an irresponsible pathogen. Borders have been slammed shut worldwide, in the name of social media mandated political correctness.
You see, Mother Nature took a look around and realized that the planet was now in the hands of the dregs of humanity. Corporate-owned criminals who would sell their souls to make the quarter. Culminating in the empty souled desecrator. So, she took matters into her own hands. The alternative was to continue down the path to self-destruction until such time as there was nothing left to save.
Last week the story was bond annihilation as the Fed raced to catch up with bailout Donny. No matter how much money they print, he spends far more. This past week the story was the obliteration of the oil market.
This week, demand for bailouts came from every sector of society and landed on Donny's desk. Unfortunately, he was out golfing, because the weather has improved of late. The links were calling. Soon even the dumbest of dumbfucks among us - friends and family so forth - will come to realize the problem of having the laziest idiot in history now overseeing an existential crisis. Sadly, Orangutan and company can't bail out everyone at the same time. They can't even bail out the criminals they are trying to bail out. They are that incompetent.
Not for lack of trying.
This heli money package will likely explode the already unstable bond market on Monday:
Total deficit spending in 2020 will be AT LEAST 15% of GDP:
As for the Federal Reserve, they are about to learn a very important lesson in asset pricing and markets in general - one the BOJ and PBOC have already found out the hard way. The reason the Fed can't rescue U.S. stocks, corporate bonds, muni bonds, WTI crude, Emerging market currencies, Bitcoins, small businesses, Miami condos, Vancouver crack shacks, Boeing, airlines, cruise ships, all restaurants, hotels, strip malls, stop me any time - is the same reason they can't even control the Treasury market. Because they are not on the other side of EVERY trade.
You see, what the other central banks have learned the hard way is that just because an idiot pays a million dollars for a brick, doesn't make ALL bricks worth a million dollars.
ALL global assets are right now being re-rated lower with respect to what they are worth vis-a-vis collapsing liquidity and collapsed demand.
Which is why, despite the largest Fed stimulus package in history TODAY, the Trump Casino finished the week at the very lows of the week. One more sugar rally down the drain.
"For the week, the Dow dropped more than 17%, its worst one-week percentage drop since October 2008"
Today's fake-believe capitalists are about to find out the meaning of true capitalism, the real kind wherein losses fall where they may, sans bailout.