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Unfulfilled Promise 9/8/20

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This is my favorite part.

"In an article in the Buffalo News on July 4, 1995, Kudlow was cited for the following:

  • He was fired as economics editor of the National Review and was “in danger of overdosing on cocaine,” his wife said.
  • Kudlow became so desperate for cocaine that he withdrew $60,000 from his Individual Retirement Account at Bear Stearns.
  • Mrs. Kudlow said her husband’s drug counselor thinks he “will probably overdose or die of a heart attack if he has access to the money at Bear Stearns.”
  • Mrs. Kudlow said she had to “sell both of their Manhattan residences to pay for treatment of his cocaine habit and to pay off $150,000 of debts accumulated because of his addiction.”
  • Kudlow was fired from Montgomery Securities and Bear Stearns for his drug problems. At Bear Stearns, he was a senior managing director and chairman of the firm’s investment policy committee, and chief economist.
  • Kudlow’s addiction was treated and he has recovered, but his addiction did raise some red flags at the White House. People who are addicted or have other substance abuse problems are considered Security risks. But for some reason, Kudlow got a pass.

Separately he also said “We [the Trump White House] have contained” the COVID virus,” Kudlow told CNBC in February 2020. “I won’t say airtight, but pretty close to airtight. We have done a good job in the United States.”"

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Hmmm... complicated. On the one hand looks like quite some damage has been done. On the other hand there is still dough looming which can be used to bomb the market higher. Tricky.

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5 minutes ago, fxfox said:

Hmmm... complicated. On the one hand looks like quite some damage has been done. On the other hand there is still dough looming which can be used to bomb the market higher. Tricky.

Going to use the Dough tomorrow to pump it up higher during European Trading hours.

More bang per buck

 

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It's been quite a feat of levitation to keep oil up near $40 all summer.  Gas prices didn't budge over the holiday. That never happens. Well Christmas 08.  The worlds most valuable asset isn't what it used to be.

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14 minutes ago, Jorma said:

It's been quite a feat of levitation to keep oil up near $40 all summer.  Gas prices didn't budge over the holiday. That never happens. Well Christmas 08.  The worlds most valuable asset isn't what it used to be.

Seems so. Many broken kong term charts in oil sector: Monster rounding top on minthly chart in Exxon. BP and Shell also broken. Those are all „dividend aristocrats“, or should we say: They used to be?

Hard to say which impact the Saudi Aramco IPO had for the whole sector. Normally it should have lead to selling of other major oil shares.

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10 minutes ago, fxfox said:

Seems so. Many broken kong term charts in oil sector: Monster rounding top on minthly chart in Exxon. BP and Shell also broken. Those are all „dividend aristocrats“, or should we say: They used to be?

Hard to say which impact the Saudi Aramco IPO had for the whole sector. Normally it should have lead to selling of other major oil shares.

There will no place to hide. Cash will be king. 

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