Extended dead cat bounce for those poor unhedged crack up boom bastards...
The lockup is only for people already in the fund. As warned not even a Cigarette after they get done with them. The rest just get
the flick of a match soaked in alcohol.
Weinberg was asked why his company had formed so many closed-end funds so rapidly in 1929. His reply was: “Well, the people want them”
There was a telling moment in 2005, at a conference held to honor Greenspan’s tenure at the Fed. One brave attendee, Raghuram Rajan (of the University of Chicago, surprisingly), presented a paper - yes we read it - warning that the financial system was taking on potentially dangerous levels of risk. He was mocked by almost all present — including, by the way, Larry Summers, who dismissed his warnings as “misguided.”
Washington ignored reality -"Paul Volcker, Stanford, Feb 11, 2005
On February 11, 2005, the U.S. national debt was approximately $7.71 trillion.
A few selected excerpts:
"Altogether, the circumstances seem as dangerous and intractable as I can remember."
"Boomers are spending like there is no tomorrow."
"Homeownership has become a vehicle for borrowing and leveraging as much as a source of financial security."
"I come now to the heart of the problem, as a Nation we are consuming and investing, that is spending, about 6% more than we are producing. What holds it all together? - High consumption - high leverage - government deficits - What holds it all together is a really massive and growing flow of capital from abroad. A flow of capital that today runs to more than $2 Billion per day."
"What I'm really talking about boils down to the oldest lesson of financial policy in Central Banking: A strong sense of monetary and fiscal discipline."
We have years to go not month's. We are not advancing forward so observe that first.
On his trip to England in 1979, Deng Xiaoping learned why free economies were outperforming Russia and China, and he returned to launch the Sino-Capitalist Revolution which keeps astonishing the world even as faith in capitalism fades across much of the OECD. He had learned why Hong Kong, Taiwan and South Korea could keep creating jobs and wealth by rejecting socialism—whether on the Maoist, Bolshevik, or Indian models.) Putin calls the collapse of Bolshevism, “The greatest geopolitical catastrophe of the 20th Century.” It was certainly bad news for him and his fellow KGB officers, but they regrouped amid the chaotic Yeltsin era and eventually took control of Russia. The KGB were the Jesuits of Russian Communism, and they worked loyally to advance the Kremlin’s goals. But their relationship to the Party was—like the Jesuits’ relation to the Vatican—at times problematic. Example: Khrushchev once claimed that he had personally shot Beria, the KGB leader, who wasn’t deemed sufficiently submissive to the Central Committee, (although the later version was that he’d died before a firing squad). Like the Jesuits, the KGB considered themselves the elites, and remained loyal to each other. Now that they are the ruling class, they no longer have to answer to bureaucrats and theorists.
Media knows the price of everything and the value of nothing.
thread: lightswitch
Who is pulling ahead as a simple ratio was clear enough....
Btw Tehran is on fire tonight... Developing... Iran is a prison now with 90 million inmates. IRGC lunatics and picnic cylinder gas leaks...
Hamas to be rebuilt per IRGC.
Explosions In Iran - IRGC Infighting Over "Deal" - Hezbollah Attacks Israel 15 June 2026
https://www.youtube.com/watch?v=UKdaicFmK1E