Monday, June 17, 2013

Nowhere to Run for Suckers

There was nowhere to run for anybody who bought into today's "rally" - and how can it be called a rally if the only people participating are pumping futures from some back office in Hoboken just to get an imaginary boost in the equities markets, shooting everything higher right at the open only to close below that starting point.

Around 2:00 pm EDT there was a major selloff, telltale of the gutless rip-off merchants which have been roaming the canyons of Wall Street the past decade or two. All the markets gave ground, only because those who had bought in the morning, pushing stocks to artificially-inflated levels (they've only been doing it for the past five years, without pause, so they should know what they're doing), decided that it was time to skin some of their own clients, and those of other firms, such is the nature of the game they play.

The equity markets are a sick, tired, stupid joke. One would think that after five years of stimulus by the Fed, the US economy, and maybe even the world economy, would be cranking along at a better clip than what amounts to the "new normal," which is nothing but vapor and badly over-managed economic data that is so far off the mark from reality to be laughable if only it wasn't so sick and perverted.

Speaking of sick and perverse, those who run the show on Wall Street and in the central banking cartel that is destroying the global economy - mostly alumni of Goldman Sachs and JP Morgan - are nothing but small, twisted creatures, afraid primarily of their own shadows.

But, it matters none to them, because the people they deal with as clients are smaller, and more frightened, and venal and ignorant and important only to themselves, so the narcissism carries through the entirety of the upper crust, as does vanity and pride and probably a whole of of more than just the seven deadly sins.

These people think their money has value in a better regard than say, friendship, honesty, morality, decency or truth, but, as they have learned from their role models in the political vein, those values don't matter. At the end of the day, everyone is supposedly measures in dollars. And if you ain't got 'em, you ain't nothing.

It's too bad. Seriously, because their pride will bring a fall, as sure as the sun follows the rain and bees make honey. These folks - the bankers and politicians - are nothing but cheap criminals, skimmers, really, who would steal the diamonds off their mother's engagement ring if in dire straits. The people who get nozzled into the game through IRAs, 401ks, pension and other products of financial scammery are suckers only by their willingness and play along because they have not an original idea in their heads.

They might as well just crash the whole thing and start over, The current flimflam that poses as wealth creation or preservation or management is nothing but a semi-sophisticated game of three-card monty. The dealers take their percentage, as does the house, and players chasing the dough generally end up with less on the way out than they had on the way in.

Tough. Win, lose, or go home. Somebody needs another dollar.

Dow 15,179.85, +109.67 (0.73%)
NASDAQ 3,452.13, +28.58 (0.83%)
S&P 500 1,639.04, +12.31 (0.76%)
NYSE Composite 9,337.89, +74.20 (0.80%)
NASDAQ Volume 1,580,505,125
NYSE Volume 3,464,888,250
Combined NYSE & NASDAQ Advance - Decline: 4272-2241
Combined NYSE & NASDAQ New highs - New lows: 259-47
WTI crude oil: 97.77, -0.08
Gold: 1,383.10, -4.50
Silver: 21.76, -0.196

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