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Utterly Meaningless Words, Devoid of Substance 11/25/20

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Other than anything I say, the fiscal games that the Trump Regime is playing on its way out. As Jorma axed laxt nocht. 

  

8 hours ago, Jorma said:

Munchin says he is putting the unspent CARES Act money back in the Treasury General Account at the end of the year.. Those are the exact words I read. But where are they now?  Do you know Lee?  Do agencies have their own segregated accounts? 

So is the appx. $500 billion 'returned' going to put the Treasury General Account at $2TN?  Why and WTF for?  Also, why borrow another $150bn by Dec.1?   Inertia?

This "unspent money," is absolutely irrelevant. 

WTF is the big deal? The Fed can create as much money as it wants, when it wants. Witness the $190 billion per month it is currently imaginining into existence by crediting Primary Dealer trading accounts so that they can buy more paper at a discount and sell it at a premium at no cost to themselves. They merely act as strawmen for the real buyer- Load Jaysus, while the Load, praised be his glorious name forever and ever, pays them a skim on every purchase and sale that results from the cash that the Fed hands them every day. 

I mean, really, WTF, are we even paying attention to this Munchin Trumpkin shit. Because the fucking Wall Street mob that runs the fucking Primary Dealer skimming operations, wants you to. And it works. Every god damn fucking time, it works.  

As for it's alphabet soup programs, the Fed can create those at will also. They made up some bullshit about the Treasury partnering with them for this CARES nonsense. It's bullshit. It was just an excuse to back the worst of the loans with cash raised from taxpayers and bond buyers, rather than new Fed money backed by bank deposits, which G-D forbid, people might decide to withdraw en masse one day. 

But guess what. Nobody wanted the CARES money. All those alphabet soup programs have about $200 billion outstanding, about what the Fed pumps into its Primary Dealer financial market subsidies each and every month.  It's about as big as a pimple on an elephant's butt.  

To the extent that the Treasury raised that money via debt sales, and whether those funds were earmarked in some way for various purposes, I doubt, but I really n't know. It doesn't matter. The fact is that Congress has to appropriate spending. Otherwise the Trumpists would have spent it to keep the fatass, tin-pot, lying bastard dictator, in power. The Treasury is still sitting on over $1.5 trillion that was raised and never spent because it was never appropriated. 

Will Joe and Moscow Mitch sit down and decide to spend some it? I'd imagine so. How much, only G-d knows and he doesn't exist for our purposes. 

But the real issue is whether they appropriate anything beyond that. My guess is no. The level of government borrowing now is atrocious and obscene enoug.

And keep in mind that what they don't spend, they can use to pay down outstanding debt. That should have any remaining bears quaking in their boots.

But again, WTF do I know? 

The Passion of Jaysus

The only game that matters. 

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As for the current state of the ES fucutures at 4 AM in NY, we seem to have reached yet another infartion point. 

Trend support is indicated here at about 3635. If it holds, the thrust seems capable of launching the ES to 3660, or even 3675 by the end of the NY market day this afternoon. 

If this trend support line breaks here, then we look for the next trend support around 3625 or support level of 3620. Not a big deal. 

I think that up is more likely. The trend is your friend and all. 

If they're going to break it, they'll have to show me they can first.  This is not an environment where I see any benefit in being early. 

tvc_e571a972c526e386510aed2bb7fd9fc5.png

 

Meanwhile, the euro is back above $1.19. Ouch.  Thanks to my income being in doolars, I've suffered 10% inflation since I came to Europe a year ago. 

The Fed has done a great job of stimulating consumer price inflation everywhere but in the US. 

 

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As I go through my daily stock screen ritual, looking for trading candidates, I'm struck at just how bullish so many household names look. Absolute dogshit that has miraculously turned around from these saucer base patterns. 

Admittedly, there are only several dozen of them, but they are big caps, representative of the thoughts and prayers of millions of investors. 

Even stuff that looked like a good potential short a few days ago has whipsawed and turned bullish. In many cases they had risen to their 200 day moving averages, and had triggered the first of usually 3 sell signals before heading down. 

Instead, most of them whipsawed, gapped above the MA yesterday and kept running.  

It's hard to fathom. 

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Because all of the money is being made overnight, I decided to start leaving my best looking stocks on the daily charts near the end of day in place. Just one or two. 

Yesterday I had one long and one short. 

I had a massive loss in the short when NY opened, and an equal sized gain in the long. After the first half hour I cut my gain and let my loss run, thinking, OK, this has to pull back during the day. 

It didn't. fornicate me. 

I spent the entire day trading furiously to cancel out that loss which I finally took in mid afternoon after it became clear that this bastard was never going to pull back. It was after all, a clear beneficiary of the new narrative. 

Last night I left the arena with 2 longs in place.  

That probably wasn't a good idea. I'll probaby have to trade like mad again just to recover the losses. We'll see. 

 

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I had an error in my trading list in Technical Trader. Wrong price on the first stock on the list. Also wrong stop. I had both way above where the stock was. It was actually at 102, not 118, and the stop was 96, not 106.  Hopefully that error was obvious to anyone who saw it. The trade is a long, and doing fine. 

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attention all telecom investors -  the Resistance is suing the FCC. this is truly monumental

 
We will soon have our day in court! 
 
The U.S. Court of Appeals for the District of Columbia Circuit has set oral arguments for January 25, 2021, right after President-elect Joe Biden's inauguration. This is the time we will present our case, EHT et al v. FCC, filed with Children's Defense Fund and other plaintiffs. 
 
The hearing will be live streamed at 9:30 a.m. EST.
 
You will be able to watch our attorneys live as they make the case that the FCC must revise its 24-year-old wireless radiation limits. The FCC can no longer ignore the scientific evidence and can no longer ignore the people injured by wireless radiation! Governments cannot rely on last century thinking to evaluate this century's technology. 
 
Thanks to your support, we have been able to amass compelling legal arguments that have persuaded this important appellate court to take a hard look at this case. We appreciate all the help you've given to get us this far! 
 
I wish you all the best to you this holiday season and I am so very thankful for your ongoing support.
mail?url=https%3A%2F%2Ffiles.constantcon
mail?url=https%3A%2F%2Fimgssl.constantco
 
Devra Davis
Founder & President
Environmental Health Trust
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