It's been a couple of weeks since the FTC approved Cyrpto ETF's. So we are getting into decent interval territory. wherein there is a moonshot and just enough distance from a major policy decision to give some plausible deniability. This isn't a prediction but just a model.
You know Crypto isn't dependent upon double entry bookkeeping and double entry bookkeeping is a problem if you want to get to Mars.
I wonder why the FOMC hasn't gone back to the one day meeting? I remember that the crowd went wild when they had the first two day meeting but I can't guess when that was. At the time I wondered what would happen if they announced a 3 day meeting but all these years later going back to one day would have made more sense. I'm sure the lunches are nice. Do they get dinners too?
No. On the news front it's the passage of a 7 week funding bill. Everyone was worried the hard core in the House was really going to do it this time and shur er down. So silly. No, little Mike Johnson did was all other congressional GOP leaders have done for years after they get an offer they can't refuse. They fold. Now who delivers these offers they can't refuse I'll leave you to guess.
Hell, maybe this Crypto thing won't work out but they are going to give it a try. Who is they? Everyone who wants more money. Which is everyone but us old fools.
Like a story that starts with a lottery winner and that soon involves strippers, a story about Crypto and then hedge funds is certain to end in tragedy.
Crypto hedge fund CEO may not exist; probe finds no record of identity
https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/
I think this year wraps it all up. Interest rates will never rise again. Low rates are permanent.
Nobody actually cares about balance sheets. It's a show me the money world.
Maintaining abundant liquidity is America's #1 global strategic concern. Greenspan nor Jerry were or are responding to simply economic concerns. Any serious bout of deflation could mark the end of American global supremacy. Put yourself in their shoes. You risk that, because of a balance sheet?
Nobody gives a flying fuck about balance sheets.
I haven't believed TNX would go much higher than 5% or stay there very long at least until there was a correction. Sorry Lee. It was these stupid charts that kept saying so.
Saw a blurb saying CA is looking at a $68bn budget shortfall because of falling revenue. The story of the year is weak withholding taxes. It simply does not jibe with observation. Who isn't paying taxes and why?
Everybody knows Jerry is going to 'cut rates' by March. Which means QE and everyone wants it. Everyone.
I visit the range every year. It's discouragingly discouraging how discouraged people are out there. Fed by media crafted grievances. It is a monumental tragedy.
Treasury, Fed, and everyone in the whole world who's wealth is high measured in asset prices, and little people too, are on board with more central bank money. Everywhere, everyone. Nobody is against it. And everyone knows more is coming.
Bears used to get so bearish they would start chewing the tires off their trucks. Now there are no bears left and the only ones chewing tires are dogs.
https://jalopnik.com/italian-town-discovers-true-cause-of-slashed-tires-and-1851074137
Plunging fast now. Piling into anything. Don't think RRP is going to last till April. Not to worry, there is never going to be a shortage of money again, I guess.
https://fred.stlouisfed.org/series/RRPONTSYD/
I just saw on YouTube that if you buy 10 shares of Tesla you will become a millionaire. Is there going to be a stock market by the time Musk is president of the Republic of Texas, or X? If so then could be.