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The AAA-rated Jacko Market


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Today?s Nasdaq Market might as well be the Jacko Market.

 

Rumors swirling around that Michael Jackson ?freaked out? on the plane ride to Santa Barbara, bordering on suicidal.

 

Michael Jackson ?freaked out????

 

I thought he was already at Maximum Weirdness. Guess it doesn?t mean that he can get even more psychotic. Can?t wait to see the courtroom drama.

 

Then the local Hollywood Touts like Elizabeth Taylor emerge from a 5-day pill binge to offer up ?support? for Mr. Jacko via her publicity managers.

 

No different than multiple Wall Street houses using in-house ad agencies to spool up Tout Sheets on the most absurdly overvalued tech stocks, issuing ?strong buy? ratings on these 80x trailing screamers.

 

Just because these Jacko Stocks are overpriced doesn?t mean they can?t get even more overpriced.

 

?????????..

 

Anyone check out the WSJ editorial on FRE and FNM?? Reveals massive lobbying efforts 24/7 at the highest levels seeking the ?cream of the crop? influence. No wonder they have been Riverboating so many derivatives. Trying to generate ?non-core cash flow? to finance these massive lobbying expenditures, campaign donations, and other assorted Beltway greasings.

 

I guess that Franklin ?Mr. Potato Head? Raines is attempting to become the ?Mr. Hollywood? of the Finance industry.

 

Just like Mr. Willie Brown of San Francisco.

 

- The most lavish Jaguar automobiles.

 

- The ?A-List? invitations to celebrity events.

 

- The most shocking expense accounts.

 

- The most beautiful 24-year old girlfriends.

 

- All avenues of excess and greed satisfactorily greased.

 

Note the full page ad in today?s Wall Struck Journal by Freddie Mac. Touting ?new homeownership? for over 3 million new babies born each year. Must be heavily lobbying the pro-immigration politicians, in order to get the population base to multiply exponentially in order to have more Soylent Green feedstock for the Atomic Particle Accelerator, which must create exponential rates of new credit growth to pay off other Ponzi Scheme Promise Ticket Holders demanding their 15 b.p. spread over Treasuries Agency Paper.

 

???????????..

 

I?ll let Soup finish up today?s commentary:

 

The stock market is the national report card, only A's are allowed to be printed.

 

The only traits that matter are the ability to steal, lie and manipulate effectively. There is an excellent post from Chris Carolan on how the Govt/Fed/Wall Street Cartel manipulates stock prices. Just goes to show, there is no reason to think, in fact critical independent thought will not be tolerated.

 

The stakes have never been higher. If the truth is revealed there will be far too many casualties. Failure is not an option. Lies and deceit must be perpetrated at all costs.

 

Anytime there appears to be any selling that might take the SPX back to unchanged (or God forbid red) th TICK ramps up as another Govt instituted buy program kicks in. Just stay long, nothing to see here. Regular +1000, +1100 +1200 TICK readings occurring on all support breaks.

Gov?t is on a mission.

 

When the market turns and heads north, they do not give anyone a chance to jump on. No clue as to where the turn is, but its always fast and furious. No way the Govt will stand by and allow a slow deterioration.

 

Mutual fund problems are of no consequence. Any and all redemptions will be backstopped by the Fed. The Fed will closely monitor all transactions and provide funds as needed.

 

All financial paper is Govt Guaranteed. Heck, the VXO might as well be at 2.

 

The majority of assets have been "parked" in stocks. Why would any fund hold any cash? All redemptions have been backstopped by the fed. Why be silly and let cash lower one's returns? After all, if they are guaranteed to return 10+%. Who am I to argue?

 

The govt has proven to us time and again that they will be the buyer of last resort, anything to keep stock prices moving higher. They are here to help us. Granted it took me a long time to believe, but I now have placed all my trust in the central planners. They truly know what is best.

 

The masses, the crowd if you will, sees no risk whatsoever in being fully long. The boat is very one sided. What will happen? I certainly have no clue, but the bet is heavily skewed in favor of higher prices. If the level of bearishness was 1/10th of the prevailing bullish sentiment you could damn well prepare for a monster up move. Will the asymmetrical relationship continue?

 

???????????.

 

Today, the Fear Gauges staged another spectacular plunge to new lows. Absolutely no fear in the market. And why not? Because the QQQ and SPY might as well be AAA-rated Jacko instruments. Crazy and insane, but 100% government guaranteed.

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soon all financial instruments will be valued at infinity, regardless of quality. 0.00% yield, 0.00% divvy, infinite price. There will be no trading, since there is no doubt about an instrument's value. No risk, all reward. No arbitrage, no advantage to be gained, so no trading necessary. Government guarantees all paper instruments. No one works anymore. Why bother? We'll all just "be". We'll reach a higher vibration level as a society.

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Today's "news" from the NY Times is like a pep talk for the Matrix. Apparently their tenacles are everywhere:

 

Sales of the American Dream Rise in Oct.

Published: November 25, 2003

 

The Federal Housing Finance Board on Tuesday said the average single-family home purchase price in October rose just over 3.4 percent, or $8,039, to $243,756 from $235,717 a year ago, paving the way for U.S. housing agencies to raise their loan purchase limits.

 

If the housing giants increase their loan limits, this could support buying of new and existing homes, already at a record pace this year with interest rates at or near 45-year lows

 

Also, increased loan limits could spur some mortgage refinancings, reducing costs for some consumers who had higher-cost jumbo loans that previously were too large for Fannie Mae or Freddie Mac to guarantee and purchase.

 

http://www.nytimes.com/reuters/business/bu...ncial-fhfb.html

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Hi everybody,

 

Just got back from a trip to Roswell, NM and wanted to report on what I seen. Roswell Ind Air Center was leased back to the military for the past 30 years or so. Not anymore, but what I seen was 1000's of planes being stored out there. Even the one runway is shut down and being used for storage of airplanes. I seen planes of American Airlines, United, Continental, United Express, BAX, Fedex, all just sitting in storage.

 

Did a search and came up with this.

 

http://albuquerque.bizjournals.com/albuque...14/daily15.html

 

Well I guess the good news is they created 200 new jobs to store the planes.

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Hi everybody,

 

Just got back from a trip to Roswell, NM and wanted to report on what I seen. Roswell Ind Air Center was leased back to the military for the past 30 years or so. Not anymore, but what I seen was 1000's of planes being stored out there. Even the one runway is shut down and being used for storage of airplanes. I seen planes of American Airlines, United, Continental, United Express, BAX, Fedex, all just sitting in storage.

 

Did a search and came up with this.

 

http://albuquerque.bizjournals.com/albuque...14/daily15.html

 

Well I guess the good news is they created 200 new jobs to store the planes.

I used to do some VC stuff with Aircraft leases, and post 9/11 the market absolutely collapsed. I'll never forget the president of Aloha airlines calling my boss around 9/30/01 when the dust settled and saying

 

"Ok, we have a non cancelable lease of 6 planes with you guys at $125,000 per plane per month. We cant make our payments. You can either renegotiate our deal and make our payments $75,000 a month, or we'll be happy to give you the planes back..."

 

Ouch. We had choice, and certaintly didnt want our planes back to sit in the desert. I heard that the lease rates are back to speed again though, and if you had the cahones to step up then, and buy out some existing leases, and with all the sweetheart tax incentives, you prolly would have done well.

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ag: one quick question? Why would rates be @1% if the economy was really growing @8%? Why do the fed statist geeks repeat themselves every 12 hours on the hour? Whoops, sorry was thinking ther for a sec, not thinking allowed , stocks always go higher and one must always be long. My bad.

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