RangeRider

Bucky is taking it on the chin overnight on Sunday and futures were up modestly. Monday looks like another day for the bulls, courtesy of carry trades. I haven't checked gold but I bet it is over $1100 tonight.

Anyone tired of this yet?

As one person on a board put it:

Crappy dollar good for the market.
Strong dollar good for the market.
Bad news good for the market.
Good news good for the market.
Nobody earning money good for the market.
Continuous bankruptcies good for the market.
Imminent war good for the market.
Government in control of your health good for the market.
Climate change propaganda good for the market.
Massive Wall Street bonuses very good for the market.
Christmas retail to really, really suck good for the market.
Government becoming the nations largest landlord good for the market.

It's all good...

Obviously none of these are good for the market. It's just that these carry trades are so damned bubbly. Nothing else even remotely matters. The hard part is guessing when the carry trade comes to an end, as it is a ponzi scheme from hell.

If you are playing the carry trade, congrats... And also good luck to you. You might need it when it comes to an end.

Apparently, not very important at all.

From Reuters: Flu shots for Wall Street stirs ire in New York

New York City health officials scrambled to explain themselves on Thursday in the wake of media reports about bankers who got scarce H1N1 flu vaccines through their employers.

Members of Congress fired off letters demanding immediate explanations and the U.S. Centers for Disease Control and Prevention reminded state and city health officers of the need to make sure the most vulnerable people get shots first.

"I am concerned that the distribution of the vaccine is resulting in favored treatment for the privileged," New Jersey Democratic Representative Frank Pallone said.

Now you know where you stand.

If this isn't enough for you to begin boycotting the Wall Street banks and other large banks, I don't know what is.

In the event of an 1987 style crash taking place, there are circuit breakers in place to prevent it from going too far, but not necessarily prevent it from happening. You might want to keep the below handy just in case.

Click Image To Enlarge

Peter Schiff:



Really Peter? People don't believe you? Most Americans have been drinking the koolaid for way too long and convincing them is a waste of time. Good luck with that.

I'll probably never agree with Schiff on the dollar and inflation. But this is one I do agree with him on.

If interested, here is my opinion on this subject from back in December of 2008: To Buy A Home Or Not?

Who says? The U.S. Census Bureau, that's who.

See table 3 in this report: http://www.census.gov/hhes/www/housing/hvs/qtr309/files/q309press.pdf

Well who would have known that?

I did. And anyone who actually reads this blog should know that.

See a post from back in early May: Housing In Absolute Shambles

Do you really think there is going to be a recovery in housing? Seriously. If you do, I think you need to have your head examined.

This will take a very long time to work off.

The FDIC dressed up for Halloween as the reaper on Friday.

They took out 9 banks. Wow.

North Houston Bank Houston TX
Madisonville State Bank Madisonville TX
Citizens National Bank Teague TX
Park National Bank Chicago IL
Pacific National Bank San Francisco CA
California National Bank Los Angeles CA
San Diego National Bank San Diego CA
Community Bank of Lemont Lemont IL
Bank USA, N.A. Phoenix AZ

Mr Bucky also went as the reaper, trashing equities on Friday.

In other news, if you're insane and would like to buy some November calls on Wells Fargo, let me save you some time on securing your financial demise. The symbol for that is "FHUKD."

How appropriate.