Thursday, November 4, 2010

The World is Yours

Sometimes music and movies speaks louder than words.

Many are feeling like this poor girl today(Not a country fan but I gotta admit I kinda dig this tune):



I don't really have it!:



As the QE insanity continues you have to ask:

How much money is enough Wall St?

This question has actually already been asked before:

"Just a little bit more" is how John D. Rockefeller famously answered the question.   I see things haven't changed much on Wall St after reading this quote.

Sometimes when you have it "all" is when it all falls apart.  Entourage anyone?

I can't help but thinking of Scarface as I watch this train wreck.  At one point Tony thought he had it "all"  as he snorted a pound of coke on desk:



When you can't get enough and become consumed by greed is usually when you loose it all(warning:  baaaad language):



The Market:

I can't help but think that we are now witnessing the beginning of the end.  The Fed has opened the floodgates.  It's free hookers, money, and blow for everyone involved!

Can't you just hear them screaming "WHO CARES ABOUT THE CONSEQUENCES!!" as they churn up the printing presses for one more big party.

QE3 is already now on the table because QE2 has been so much fun according to the news today:

"So with QE2 out of the way and the market ready to ride the Fed's momentum, talk immediately switched to when the economy will see future QE implementations that some market pros think are little more than an inevitability.

"They're already talking about QE3," said Dave Rovelli, managing director of US equity trading for Canaccord Adams. "Eventually we're going to be printing so much money the dollar is going to really go down and everybody's going to try to deflate their currency against us. I just don't know how this could end well."

For the time being, though, concerns about inflation were out of investors' heads as speculation grew rampant that the Fed has sent an unmistakable signal that it stands at the ready with as much easing as needed to restart the economy."

Quick Take:

DAVE DAVE DAVE!!  Shut up dude.  This party is rocking.  Who cares about the future.  All that matters is today!!!

In fact, I think everyone reading me today should immediately go out and max out your credit cards on hookers and blow.  If that's not your thing then go hit Vegas and start betting $500 a hand until your bank account is empty.

I mean who cares about tomorrow??  Screw it!(sarcasm off)

Sadly I am not really being overly sarcastic.  I am starting to believe that this is the mentality we are starting to see out there, and the root cause of this is the Fed.

They are doing everything in their power to get you to speculate in hopes that they can "grow out" of this multi trillion dollar disaster. 

They don't care if it's stocks, houses, or cars.  They just want you to buy buy buy until you are in the poor house.  They will give you every tool possible in the process in order for you to do so....3+% mortgages anyone?

There is no way we can mathematically grow out of this but they are going to fire every bullet in the gun trying.

The problem with this policy is they are promoting bad behaviour by everyone inclucing the banks who are bad enough as it is.  It all goes back to Rick Santelli's famous tea party rant:



It's so fascinating to watch this video 2 years later.  Pretty much everything Rick warned us about has come to fruition.  It's almost eery how accurate he was, and I don't think he ever imagined that the Fed would have taken it this far.

I fear for our future and I will continue to sit here in cash and metals as I watch the fireworks.

The ironic thing about today is I am sick to my stomach watching the markets despite having a great day in the markets due to my positions in gold and silver.  

I wonder how many people are having the same feelings? 

When this "funny money" party finally ends(and it will) we should hang a planet above Wall St with a banner that reads "The World Is Yours" as the "Scarface" bankers loose it all and end up hanging from lampposts.

5 comments:

getyourselfconnected said...

Jeff,
I get you!

This crap could be a year or 18 month show, it makes me sick. The next crash will be the last crash but until then I am thinking get your popcorn ready, and maybe some food in the basement.

Jeff said...

Cray times Get

Gold surging again tonight. $1400 here we come.

Crazy shit

Anonymous said...

I completely agree that QE2 was not the way to go but then again I'm just an armchair investor/economist, what do I know. The thing I am thinking is the old adage, don't fight the fed and maybe I should buy into this market and just keep my stops up. I think the market will continue to go higher until it is thought of or realized that the feds attempts are not working, have not worked or cannot work any longer, so if my guess is correct then we better pray that the economy's own natural healing cycle is moving along. My fate is in your hands Ben, don't sell us out to wall street!!!

Jeff said...

Anon

Yep

Jobs number wasn't bad today.

We'll see I guess!

Anonymous said...

jeff:

hers the big question on gold and silver.

when the big pullback? when are you going to go short or sell? i just think this may end up like the jan 09 post stimulus drop. sugar high then a drop.