Jorma

https://www.youtube.com/watch?v=ZBAijg5Betw&ab_channel=JeanMallart

My mind has been frozen ever since the tax data diverged from the employment data. Since I live in a place where the employment situation is better than it has been since 1969 with plenty of industrial and commercial development ongoing the tax numbers make zero sense, but of course it's one place, Michigan. Still, it makes no sense. My mind freezes up.

Judging by the trends I expect VIX to reach zero and stocks will achieve a permanently high plateau.

Double entry bookkeeping for central banks and banks has just outlived it’s usefulness I’m afraid. It can’t keep up with the demand for money anymore. You know double entry bookkeeping rose with the Age of Reason, but that’s all over per Kellyanne Conway and alternative facts, so why not double entry bookkeeping too? The foundation of Lee’s work, or Noland or others with our odd views, is the balance sheet view of the system. The mechanism. The thing is nobody cares about the balance sheet. Just show us the money. We are muddling through right now until the Fed has to do QE Infinity, because it’s demanded, by everyone. The mechanism isn't a machine. There are no rules. It's human behavior. Meanwhile the melting snow is still roaring down the mountains in the High Sierra’s.

I botched that. Should have been discretionary spending, with of course no decrease to the military. I guess the details will be leaking out the next dew days. Whatever they, are the on Friday the idea of deal + lower spending was in play.

The bullishness is justified on the details of the Deal. There will be what amounts to stupendous cuts in non discretionary spending going forward, which is only13% of the total budget. especially considering inflation, The kicker is they will be automatic, in other words no votes on those items every year come budget time. It essentially incentivizes inflation in an odd way.

All the live shooter players are prepping for the real thing.

I'm taking a nap anyway. They bring her down midweek for a rally into the Memorial Day holiday. Well usually. Admittedly Armageddon seems possible. I'm headed to the mountains. Probably visit the Sand Hills on the way.

I think they are eyeing up a single digit VIX.

I had no idea you were familiar with charm.

One likelihood is that Biden will simply direct the Treasury to begin borrowing again. A Maginot line of sorts for Treasuries.

"All chart patterns resolve upward. This is the essence of modern technical analysis." Dt Stool

That's one hell of a disconnect. Maybe less people are paying taxes? I mean WTF.

I think we should revisit this. All chart patterns resolve upward. This is the essence of modern technical analysis. http://www.capitalstool.com/forums/index.php?/topic/15037-beware-the-barfing-brontosaurus-11421/&do=findComment&comment=950666

Since the price of money, interest rates that is, make no sense, I don't think any market prices makes sense now. I mean assuming they are supposed to.

Greenspan and Bernanke and the rest are simply doing what's popular. All Americans love money, meaning credit. Love love love love love it. Money to inflate asset values is a bedrock of America. Being against inflation in America is like being against gravity.

Yellen announces the drop dead date. June 1st. https://www.reuters.com/markets/us/us-may-run-short-cash-after-june-1-without-debt-limit-hike-treasury-2023-05-01/

20 years ago today. It's surprising we've lasted 20 years.

There is a $2.3 TN elephant in the room they didn't include, the RRP.

Yep, Just my luck. I invested in baking powder.

file:///C:/archive/image/bushid.jpg

One way or the other the story will be positive sales comapred to last year. Profits from sales are another story, one that seems to matter not at all anymore. What the heck, it's just stories.