THE IDIOCY OF THE FED

“Could they do any worse than the Twits running it now?!”

Have you heard this before? … “Inflation is good!, and we want it to be at

2%” … no? … well that’s what your FED wants! EXIT QUESTION: “Since

when, and in what society has inflation ever been good and resulted in

prosperity”? … [Hint: think Venezuela.]

Take a look at the latest inflation numbers put out by the math whiz kids over

at the Department of Unicorns & Fairy Tales. Directly below, can you spot the

problem?

click to enlarge

Just take the top line and then look at the bottom line … and while the wages

picture is probably accurate, the inflation numbers are wildly inaccurate and

misrepresented to the downside … bottom line, though, even accepting their

phony inflation numbers, is that Mr. & Mrs. Middle Class lost 1.1% of their

purchasing power over the last year … “Congrats!, you’re on the Titanic and

don’t even know it”! Oh wait … I forgot … Everything Is F-ing Awesome,

Baby”!

And while our Preezy can try and “talk up” stocks all he wants, I don’t think

it’s working near as well as he thinks … just shut up already and move on

… instead, why not work on getting the traitors who tried the “soft coup”

against you shot at sunrise?

As we move forward into the day, let’s see how the “Plunge Protection Team”

[PPT] uses its muscle to move the indices higher … should be interesting.

Market opened all wrong … shouldn’t be going higher from the NYSE open,

cuz it’s just gonna be seen as a “dead cat bounce” … now we’re hitting new

lows, and we’re most definitely in the back end of the “80/10/10” paradigm

for now … quite frankly, unless we see some kind of washout, capitulation

selling event on new lows, you just have to leave this alone … yea, you may

miss the bottom, but remember when the “10” selling hits, it’s catastrophic in

nature and scope and is lead by “gamma shorts” panicking to get the hell out.

Not a scenario you want to see for buying. As we get into the afternoon on a

Friday, who knows what kind of panic sets in, or what the PPT is gonna do, or

even what the ChiComs might say to stir the pot … and of course, if you get

caught on the wrong side of it, it will be brutal with no chance to recover

… none.

Here in the P.M of New York, and not much of any bounce in the NDX100

while the risks to the downside are enormous … when you get into these

selling sprees, everything depends on strategic timing, and unless the “Plunge

Protection Team” [PPT] shows up, what you want to see before you get long is

some kind of capitulation that I mentioned before … so far, we haven’t seen

that at all … bottom line is, somebody has to blow themselves up first before

buying commences with any gusto … until then, sit and be patient, otherwise

you blow your wad too early and even a big move up will only get you back to

even. Again today, over an hour down near the low of the day [so far] … does

everybody get the chance to buy the low?

Onto the weekend … blog update Sunday night … if I do make a trade later

today, I’ll post in an update after the close. Until Sunday mi amigos

… Onward & Upward!!

Have a great weekend everybody!

-vegas