Black Swans Circling. Kunstler Iceland "subsisting on blubber sandwiches". Faber on the US
I got some UltraShorts OUTPERFORMed in the last few minutes of trading today. I am still short and in cash. I would like to get back into SKF at some point.
I am not sure what is going on, but somebody must know. The US dollar is down 50% to most currencies, the market is down 20-30% and real estate is down 20-50%.
Black Swans are circling. Will they land? You tell me...
Lets talk about some Black Swans
Listening to HariKari the Goldman Sachs 35 year old, saviour of the US economy ramble off his plan this morning gave me the stomach pain I get with BS. I use pain as a motivator to find new short positions and ideas. Does that count as technical analysis? Is it the Jedi "Force" or what?
To me the kid HariKari is just another sucker, a sh-t shield or cannon foder to take the fall, for anymore failed ideas. He is being played for a sucker, IMO. But I am sure he will cash out and have the last laugh from the safety of where ever he flees to?
Despite major protests against the bail out, it was voted thru. Despite majority opposition the war it continues. We have some how managed to have two PRO-war cannidates? A farse or tragedy?
McCain is an inept, corrupt, dumb, ill tempered, lying womanizer. (Ref 1)
Obama is an inexperience, kid with a Resume so thin he would not be hired run any company in the S&P 500. DOW 30, lol? Meanwhile 140k soildiers, surrounded in the Middle East, but not cut off. Do you think Troops will have the faith to hold the line under this "non serving" kid? (Ref 2)
Palin - a farse that may become a horrific tragedy, as the Isabel Perón of the US. (Ref 3)
Biden - "spends a lot of time at Home Depot"?
If you are not recognizing a changing in "the Force", you better focus harder young Jedi. Something is going on... my response has been to reduce nominial investments and buy REAL assets.
In a slow down, your job becomes vitally important. You must try and stay employed.
Do you know what the new word for cool is? FRUGAL!
Black Swan: NEOCON Kristol: Bush might bomb Iran if he thinks Obama will win
IMO, war with Iran will send oil to $400ish a barrell and the Straights of Hormuz will be closed, for longer then people expect.
Kunstler Iceland "subsisting on blubber sandwiches" The Nusea Spreads
Iceland is the poster-child du jour for this. The little island nation of about 320,000 souls (roughly half of Vermont's population) lately grew a banking sector that thrived on something-for-nothing finance. In little more than a month, its banks have imploded like mini-death stars, leaving Iceland with a pariah currency. Since it has to import just about everything, and it suddenly finds itself unable to pay for imports, the people are stripping the grocery markets of whatever remains there now. You wonder what they will do in two weeks. Ten years from now there may be 32,000 of them left, subsisting on blubber sandwiches.
Marc FaberGlobal Economic Slump Is `Unavoidable' 13 OCT 08
(Ref 1) The Real McCain 2
(Ref 2) Jack Cafferty Tells Us How He Really Feels About Sarah Palin