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Jorma

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Everything posted by Jorma

  1. Obviously I don't mean to praise him for popping the bubble. You don't know that by now? Earth to Lee. Come on. I'm pointing out one of the odd outcomes of the Credit Bubble. The biggest enemy of the bubble might be our worst nightmare. I'm not for Putin for God's sake. I'm not even for popping the bubble, but then, how not to? Got me. The bubble has allowed 7 billion people to live with the lowest percentage of them in extreme privation than ever in history maybe. The credit bubble has been very good to me, and anyone likely to read this. And also several other billion people. How do you keep 7 billion alive without it? It sure ain't war. Sheesh. We have been against the excesses of the bubble because we wanted to prevent the disaster of the downfall. Of course nobody payed attention. I sure as hell don't think Putin or Russians have some principled opposition to the bubble. Some higher motive. Cripes. He's a politician. Higher motive? ROTFL. I'm just saying there is something in that culture which is anti credit.
  2. One thing that can be said about Russia, but never is said, is that alone among the worlds major nations, it rejects credit expansion and asset inflation. Think about it. Has any major global bank ever had anything but a pro forma presence in Moscow? No, not even after the USSR went caput. For 100 years they have been dying to capitalize Russia, and failed totally. Now in these parts a rejection or at least a skepticism about credit/monetary expansion is an honorable thing. One thing is to consider that Putin is trying to pop the bubble that the rest of the world is in. I can make the case that this is the Russia's strategic goal. With a global financial and economic reset Russia's relative strength rockets higher. Remember, they don't have any bubbles that I know of. Russia is an island all it's own. A serious downturn in the markets and the economy would put most all major nations into serious political trouble. Not so much Russia. Remember, they don't have any bubbles. I don't even think the Russian government provides nearly as much direct income into households as the West does. So that threat to political order is far lower there. One other thing is this could blow up China's great Belt and Road Initiative , Eurasian integration grand plan for the century. Anyway for now I will consider this war is intended to blow up the bubble of the last 30 or 40 years, and it just might. Untold tragedies await for so many. Even us. Let's hope not.
  3. It's best to always remember that old stock market nostrum: buy death.
  4. On a relative basis this might be the worst bond performance during a stock market air pocket since, well I can't remember. The first few hours of Black Monday?
  5. Well were back to those one minute charts kind of days. VIX is probably the best thing to watch.
  6. I think todays question is going to become a familiar one.
  7. I'd like to congratulate our PD friends who win todays and tomorrows auctions of $100bn of Treasury Notes.
  8. https://www.youtube.com/watch?v=Jffnl6JQ9xE&ab_channel=nimophile
  9. It's hilarious that everyone says the Fed is going to set interest rates higher but the only interest rate they set are the ones they pay to the banks. As if? Right? Would they really raise the RRP rate? I guess it would be a way to keep the money locked away.
  10. So the RRP rate and the excess reserve rate is 0.5%? Won't market rates fuel an exit from RRP? Aren't we there now?
  11. In order to get Elon's base on Mars, which is directive #1, several hundred trillion will be needed. The banking system isn't up to the task so it's crypto, I guess.
  12. I still don't think anarchy is bullish but what do I know?
  13. So what was the deal with that $700bn Treasury supply story? Was that for real?
  14. No kidding? Are microwave small? Does the pope poop in the woods?
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