Sunday, February 21, 2021


When the sheeple realize they got conned into human history's biggest one way pump and dump and obliterated on the eve of global economic depression, I predict there will be considerable societal "acrimony". The only benefit of imploding in human history's biggest moron bubble is being able to claim no one saw it coming...

Historians won't understand how the worst global pandemic in 100 years spawned the biggest asset bubble in human history. After all it's a well known fact that the economic dislocations from the pandemic are four times worse than the global financial crisis, however stoned gamblers have been fully euthanized by central bank monetary heroin. This manic RISK ON party only makes sense in the context of the non-stop monetary bailouts since 2008. Dopium stoned gamblers have been conditioned to believe that the decimation of the economy is "good news" for stocks. The hangover from this final delusion will be brutal. 

“This has been the most severe crisis for the world of work since The Great Depression of the 1930s. Its impact is far greater than that of the global financial crisis of 2009”

One year later from the beginning of the 2020 meltdown and gamblers are celebrating mass unemployment and record debt accumulation by bidding up stocks to insane valuations. 

Depressionary interest rates and "free money" are the cat nip fueling this manic rally. There is no concern for the fact that these same 0% interest rates portend economic obliteration on the other side of global margin call.

Such is the overwhelming belief in free money that the "experts" on Wall Street can't think of anything to worry about right now. One minor pump and dump in Gamestop three weeks ago almost brought down the entire financial system, and yet professional money managers are too high on monetary crack to realize their careers will soon be ending.

"Up 75% from March, the S&P 500’s gain dwarfs all previous bull markets at this stage of the cycle since the 1930s"

“Whether it’s herd mentality, or fear of being left behind, that’s what you’re seeing.”

Dated from the last bear-market bottom, the boom cycle is young -- 11 months, versus five years for the median bull market...a majority of money managers in a Bank of America poll this month viewed the current bull market as being in a late stage"

Got that? According to today's "experts", this is a young bull market that is in its latter stages, so they are buying it with both hands. With that kind of logic it's clear they owe their careers to central banks. The inconvenient truth is that this was all just a headfake rally in a bear market that started one year ago. This was always how it was going to end. Money managers ALL IN at the top. Clearly when it explodes they will all look like fools, however the stampeding herd always believes there is strength in numbers. 

I keep a chart list of what I call the "COVID implosion" stocks. These are the industries that have been blighted by this virus. What we notice is that they are all three wave corrective, which means they are in a bear market:

Energy stocks have been the worst performers since the March low. This overlapping correction shows wave 'c' is barely above wave 'a' which ended last June. 

Among the most beaten down cyclicals, regional banks have enjoyed the deepest retracement

History will show that this COVID rally was the blow-off top in the risk rally that began back in 2008. Useful idiots bought the story that last year was late cycle, and the blowoff top was early cycle. You have to be brain dead to believe this shit, which is why few people questioned it. 

They got conned by the usual psychopaths. What's new?