# Stocks Shrug Off Inflation Scare But Bond Yields Extend Spike

Update: The opening bell in US markets prompted panic-buying back to unchanged as stocks shrugged off any inflation scares...

Despite bond yields pushing to new cycle highs...

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The "most-watched datapoint in history" just hit... and everything is hotter than expected...

Amid updated seasonal adjustments from BLS and strong base effects, Headline CPI printed a much hotter-than-expected 2.1% YoY (1.9% YoY exp)

The index for all items less food and energy increased 0.3 percent in January. The shelter index increased 0.2 percent as the indexes for rent and owners' equivalent rent both rose 0.3 percent, while the index for lodging away from home declined 2.0 percent over the month.

The apparel index rose sharply in January, increasing 1.7 percent after falling in previous months. The medical care index increased as well, rising 0.4 percent. The index for hospital services increased 1.3 percent, and the physicians' services index rose 0.3 percent; the index for prescription drugs, however, declined 0.2 percent.

The index for motor vehicle insurance continued to rise in January, increasing 1.3 percent, its largest 1-month increase since November 2001. The personal care index rose 0.5 percent; this was its largest increase since January 2015. The used cars and trucks index also continued to rise, advancing 0.4 percent in January. The indexes for household furnishings and operations, education, and tobacco also increased in January.

A few indexes declined in January, including airlines fares, which fell for the third consecutive month, decreasing 0.6 percent. The new vehicles index decreased 0.1  percent. The indexes for recreation, communication, and alcoholic beverages were all unchanged in January.

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The reaction is obvious - bond yield surging (prices tumble) and stocks drop...

Equity Futures are down across the board...

10Y Yields are spiking..

The Dollar is spiking...

Rate-Hike odds jumped after the inflation scare... expectations are now for 2 and 2/3rds rate hikes in 2018...

Fed Fund Futures imply a 23% chance of 4 rate-hikes in 2018 - up from 17% yesterday.

As Bloomberg's Richard Breslow warned yesterday:

If the fate of the stock market, and every other global asset for that matter, is so utterly sensitive to a handful of basis points either way on the 10-year Treasury, then it’s in an even bigger bubble than analysts are copping to. And we should cease and desist arguing fundamentals.

He is right of course.

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## Comments

Wed, 02/14/2018 - 08:34 Permalink

* Only an idiot would buy US Treasuries at these pathetically low interest rates. You're guaranteed to lose money due to inflation!!

The_Juggernaut Wed, 02/14/2018 - 10:26 Permalink

Or maybe it is being sold to cover margin calls.

It is really starting to look like last couple of weeks stock carnage was nothing more than VIX manipulation.  Now they are screwing the Shorts.  Gamesmanship at its finest.

In reply to by The_Juggernaut

Juggernaut x2 Wed, 02/14/2018 - 09:13 Permalink

When you look at the real picture, and I have a background in finance at an international level, you see three things:

Stocks, Bonds Tumble After Consumer Prices Surge More Than Expected

Wage Growth? Real Hourly Earnings Are Slowing Notably

These are the articles here.. and it is as obvious as a Java patch and then a bit obscure as well.  But that .25 BPS was in response to the fed wanting to "push the string" in an effort to push or stimulate money supply in the general economy.  But what classical economics no longer addresses is the debt-deflation of the consumers, the debt-deflation of the consumer debt, the variance that is being discussed in reflection of QE and not as a consequence of the real-economy which still is in transition to:  Globalization and Open borders and "best cost sourcing in talent" (that is a fancy term for wrist slashing and sending jobs overseas) and then you have the naked pricing phenomenon, where any smart phone can tell you if an identical item is cheaper at another mega-store, and then finally the old and simple observation: THAT TOO MANY DEBTS CHASING TOO FEW DOLLARS = DEFLATION.

Look at the bankrates for loans, look at the bankrates for poor credit, look at the amount of debt-service.. and you cannot push a fucking string.  People were at the IMF back nearly 15 years ago saying: YOU CAN'T PUSH A FUCKING STRING!

What allot of people don't realize that was as far back as 2000 this was understood and that what you are witnessing is just the dancing in bubble gum of institutions that simply cannot change fast enough in response to the change that surrounds them.

https://en.wikipedia.org/wiki/James_Orlin_Grabbe

Predicted shitcoin? Check!

Predicted Derivatives and CDO collapse? Check!

The departure and endorsement of the commanding heights narrative of globalism is fucking failing, there might have been one and only one accruing beneficiary and that was the CHICOMS.. cockcuckers..

http://www.pbs.org/wgbh/commandingheights/hi/story/

Everything you think you know or have been indoctrinated into believing especially if you were trained in the book Orlin wrote and said was wrong.. well these models are not fucking working any longer.

Now you can debate Grabbes opines and politics but what you cannot debate is math!  Irving Fisher and debt-deflation is an equation and not an opinion, you should be making decisions based on facts: convenient of not.

You cannot make this shit up.. to quote: Ipso Facto it's the math stupid!

https://en.wikipedia.org/wiki/Ludwig_Wittgenstein

1. Die Welt ist alles, was der Fall ist.
The world is everything that is the case.[162]
2. Was der Fall ist, die Tatsache, ist das Bestehen von Sachverhalten.
What is the case, the fact, is the existence of atomic facts.
3. Das logische Bild der Tatsachen ist der Gedanke.
The logical picture of the facts is the thought.
4. Der Gedanke ist der sinnvolle Satz.
The thought is the significant proposition.
5. Der Satz ist eine Wahrheitsfunktion der Elementarsätze.
Propositions are truth-functions of elementary propositions.
6. Die allgemeine Form der Wahrheitsfunktion ist: {\displaystyle [{\bar {p}},{\bar {\xi }},N({\bar {\xi }})]}. Dies ist die allgemeine Form des Satzes.
The general form of a truth-function is: {\displaystyle [{\bar {p}},{\bar {\xi }},N({\bar {\xi }})]}. This is the general form of proposition.
7. Wovon man nicht sprechen kann, darüber muß man schweigen.
Whereof one cannot speak, thereof one must be silent.

In reply to by Juggernaut x2

Dilluminati Wed, 02/14/2018 - 09:21 Permalink

" I have a background in finance at an international level" --  LMFAO!!!

So you should recognize that money creation has not involved real risk, real work, or real collateral for 40+ years!!!!

All those paper/digital claims will seek out real assets eventually.  Anything else is simply more mental masterbation from a CON artist. The BAD behavior should be punished (but it is being rewarded instead), the BAD debt should be allowed to clear (but thanks to "mark to fantasy" accounting it is being considered an asset instead).

Simply put;

"Full Faith and Credit"

same as it ever was motherfucker!

In reply to by Dilluminati

LawsofPhysics Wed, 02/14/2018 - 09:26 Permalink

Stop being a cunt: this is what I believe of money.. sorry not to fit your pre-packaged narrative:

“So you think that money is the root of all evil?” said Francisco d’Anconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?

“When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor–your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil?

“Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions–and you’ll learn that man’s mind is the root of all the goods produced and of all the wealth that has ever existed on earth.

“But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man’s capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made–before it can be looted or mooched–made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produced.’

“To trade by means of money is the code of the men of good will. Money rests on the axiom that every man is the owner of his mind and his effort. Money allows no power to prescribe the value of your effort except the voluntary choice of the man who is willing to trade you his effort in return. Money permits you to obtain for your goods and your labor that which they are worth to the men who buy them, but no more. Money permits no deals except those to mutual benefit by the unforced judgment of the traders. Money demands of you the recognition that men must work for their own benefit, not for their own injury, for their gain, not their loss–the recognition that they are not beasts of burden, born to carry the weight of your misery–that you must offer them values, not wounds–that the common bond among men is not the exchange of suffering, but the exchange of goods. Money demands that you sell, not your weakness to men’s stupidity, but your talent to their reason; it demands that you buy, not the shoddiest they offer, but the best that your money can find. And when men live by trade–with reason, not force, as their final arbiter–it is the best product that wins, the best performance, the man of best judgment and highest ability–and the degree of a man’s productiveness is the degree of his reward. This is the code of existence whose tool and symbol is money. Is this what you consider evil?

“But money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. It will give you the means for the satisfaction of your desires, but it will not provide you with desires. Money is the scourge of the men who attempt to reverse the law of causality–the men who seek to replace the mind by seizing the products of the mind.

“Money will not purchase happiness for the man who has no concept of what he wants: money will not give him a code of values, if he’s evaded the knowledge of what to value, and it will not provide him with a purpose, if he’s evaded the choice of what to seek. Money will not buy intelligence for the fool, or admiration for the coward, or respect for the incompetent. The man who attempts to purchase the brains of his superiors to serve him, with his money replacing his judgment, ends up by becoming the victim of his inferiors. The men of intelligence desert him, but the cheats and the frauds come flocking to him, drawn by a law which he has not discovered: that no man may be smaller than his money. Is this the reason why you call it evil?

“Only the man who does not need it, is fit to inherit wealth–the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir; his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one, would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve the mind that cannot match it. Is this the reason why you call it evil?

“Money is your means of survival. The verdict you pronounce upon the source of your livelihood is the verdict you pronounce upon your life. If the source is corrupt, you have damned your own existence. Did you get your money by fraud? By pandering to men’s vices or men’s stupidity? By catering to fools, in the hope of getting more than your ability deserves? By lowering your standards? By doing work you despise for purchasers you scorn? If so, then your money will not give you a moment’s or a penny’s worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame. Then you’ll scream that money is evil. Evil, because it would not pinch-hit for your self-respect? Evil, because it would not let you enjoy your depravity? Is this the root of your hatred of money?

“Money will always remain an effect and refuse to replace you as the cause. Money is the product of virtue, but it will not give you virtue and it will not redeem your vices. Money will not give you the unearned, neither in matter nor in spirit. Is this the root of your hatred of money?

“Or did you say it’s the love of money that’s the root of all evil? To love a thing is to know and love its nature. To love money is to know and love the fact that money is the creation of the best power within you, and your passkey to trade your effort for the effort of the best among men. It’s the person who would sell his soul for a nickel, who is loudest in proclaiming his hatred of money–and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it.

“Let me give you a tip on a clue to men’s characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it.

“Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. So long as men live together on earth and need means to deal with one another–their only substitute, if they abandon money, is the muzzle of a gun.

“But money demands of you the highest virtues, if you wish to make it or to keep it. Men who have no courage, pride or self-esteem, men who have no moral sense of their right to their money and are not willing to defend it as they defend their life, men who apologize for being rich–will not remain rich for long. They are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of the guilt–and of his life, as he deserves.

“Then you will see the rise of the men of the double standard–the men who live by force, yet count on those who live by trade to create the value of their looted money–the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law–men who use force to seize the wealth of disarmed victims–then money becomes its creators’ avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

“Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion–when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see that money is flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed. Money is so noble a medium that is does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.

“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, ‘Account overdrawn.’

“When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ‘Who is destroying the world? You are.

“You stand in the midst of the greatest achievements of the greatest productive civilization and you wonder why it’s crumbling around you, while you’re damning its life-blood–money. You look upon money as the savages did before you, and you wonder why the jungle is creeping back to the edge of your cities. Throughout men’s history, money was always seized by looters of one brand or another, whose names changed, but whose method remained the same: to seize wealth by force and to keep the producers bound, demeaned, defamed, deprived of honor. That phrase about the evil of money, which you mouth with such righteous recklessness, comes from a time when wealth was produced by the labor of slaves–slaves who repeated the motions once discovered by somebody’s mind and left unimproved for centuries. So long as production was ruled by force, and wealth was obtained by conquest, there was little to conquer, Yet through all the centuries of stagnation and starvation, men exalted the looters, as aristocrats of the sword, as aristocrats of birth, as aristocrats of the bureau, and despised the producers, as slaves, as traders, as shopkeepers–as industrialists.

“To the glory of mankind, there was, for the first and only time in history, a country of money–and I have no higher, more reverent tribute to pay to America, for this means: a country of reason, justice, freedom, production, achievement. For the first time, man’s mind and money were set free, and there were no fortunes-by-conquest, but only fortunes-by-work, and instead of swordsmen and slaves, there appeared the real maker of wealth, the greatest worker, the highest type of human being–the self-made man–the American industrialist.

“If you ask me to name the proudest distinction of Americans, I would choose–because it contains all the others–the fact that they were the people who created the phrase ‘to make money.’ No other language or nation had ever used these words before; men had always thought of wealth as a static quantity–to be seized, begged, inherited, shared, looted or obtained as a favor. Americans were the first to understand that wealth has to be created. The words ‘to make money’ hold the essence of human morality.

“Yet these were the words for which Americans were denounced by the rotted cultures of the looters’ continents. Now the looters’ credo has brought you to regard your proudest achievements as a hallmark of shame, your prosperity as guilt, your greatest men, the industrialists, as blackguards, and your magnificent factories as the product and property of muscular labor, the labor of whip-driven slaves, like the pyramids of Egypt. The rotter who simpers that he sees no difference between the power of the dollar and the power of the whip, ought to learn the difference on his own hide– as, I think, he will.

“Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns–or dollars. Take your choice–there is no other–and your time is running out.”

In reply to by LawsofPhysics

Dilluminati Wed, 02/14/2018 - 09:37 Permalink

I read this long ago. Ayn Rand changed my life totally.

Her books are my Bible, I always carry a book of hers just to remind me how stupid other people can be.

The Meaning Of Money I have ready many times and I use to have a print hanging in my office at work but only truly understood it after the GFC when it exposed just how crooked the system had become.

In reply to by Dilluminati

JohnGaltUk Wed, 02/14/2018 - 09:46 Permalink

I happened to come across Grabbe about 20 years ago and read Rand.  It changed my life.  I'm not a debt-serf.  I actually paid cash last month for a new Jeep.  You can't fucking argue with math.  Math wins.

In reply to by JohnGaltUk

The_Juggernaut Wed, 02/14/2018 - 10:36 Permalink

If true, damn interesting as the guy was way out in front in respect to digital currency and derivatives, his encryption now seems dated but is one of the founding concepts of blockchain.  Interesting dude is putting it mildly..  The guy died on options expiration date.. fun tidbit.  I wonder if the cat chewed off his toes?  Fucking cats do that shit.

In reply to by The_Juggernaut

Dilluminati Wed, 02/14/2018 - 10:56 Permalink

I'm not necessarily the most capable judge of intelligence, but there were some pretty smart people there, and some really smart ones.  Orlin was clearly operating on a higher plane than any of them.  I can tell you that he was a caring and friendly guy, and a solid tipper.

In reply to by Dilluminati

Yen Cross Wed, 02/14/2018 - 10:40 Permalink

Dude they were near giving them away December of last year, and what I traded in was turning ten and had 184K on it.  I got a very good deal.. I wasn't specifically shopping jeep.. Jeep just got off their asses and brought the $to buy. I took the sucker financing (really good price) put 2K on a credit card with cash back, and then paid all but$300.  That leaves next month payment, and a final invoice of balance for title.. I do math.. with the cash-back I paid zero interest and took the "FINANCING."  lol

In reply to by Yen Cross

0valueleft Wed, 02/14/2018 - 10:44 Permalink

They were giving them away in December.. there was two cars that were "given away" last year due to poor sales.  One was the Hyundai Accent Standard Trans.  The other was the redesigned 2017 Compass 4x4.  Bought two new cars last year cash.  Both were predicated on making anything at all on the sucker financing.  I have family in the area and Jeep made two sales there as well.. Yeah jeep got off their asses and made some sales.

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId…

Yeah these were cheaper by 2k

And then

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId…

And these were cheaper by about 2K

Keep in mind I got new 2017's not the 18's.   I run em sane, change the oil, I know that I didn't abuse them.  But yeah there was two cars last year that were begging to be bought new and used didn't make any sense.. I traded my used junk off.

BTW I got blue and orange.. no fleet colors

In reply to by 0valueleft

Dilluminati Wed, 02/14/2018 - 10:15 Permalink

It is the love of money which is the root of all evil, not the money itself.

And apart from that main problem, there are lot of other holes in that argument, mostly revolving around the assumption that trade is free. For that to be the case, every individual must have sufficient land - free, clear and untaxed - to feed themself. We do not live in that world, and haven't for 8,000 years at least.

In reply to by Dilluminati

Dilluminati Wed, 02/14/2018 - 09:44 Permalink

Wittgenstein had a political agenda. His arguments are tainted by it. Moreover, if you will examine his argument carefully you will discover that it is an extremely enormous case of "petitio principii" (begging the question).

In reply to by Dilluminati

rrrr Wed, 02/14/2018 - 09:52 Permalink

True, aside from

https://en.wikipedia.org/wiki/Alfred_North_Whitehead

They are all stuck on trying to remain consistent..

Wittgenstein in respect to economics along with Fisher however allowed the "facts of math" to dictate.

It is funny that Lesley Stahl of 60 Minutes, produced an investigative segment about misinformation on the Internet that aired on March 2, 1997.[22]

And then in respect to math~

https://www.ft.com/content/aee9e3a2-a11f-11dd-82fd-000077b07658

‘I made a mistake,’ admits Greenspan

Some people think that this is opinion or policy...

At the basis of it however is math!

Again.. lets see what raising rates does to consumer debt and purchasing power as manufacturers scramble to sell shit?

If your horizon for decision making is short you love BTFD, but if you are in the game for a lifetime.. debt serf you do not want to be.  Greenspan was all hollywood for ugly people.. he lacked the integrity to do the right thing for the nation or got confused thinking there was a Soros world team.. and the Chicoms laugh and play the long game

Grabbe was right with the math.. Greenspan wrong.  And most intellectually lazy cannot tell you why CDO crash really happened.  Least of all Lesley Stahl who never allowed math to stand in the way of her opinions.. (talk about ugly hollywood)

https://timesofindia.indiatimes.com/world/us/IITs-better-than-US-instit…

https://en.wikipedia.org/wiki/Low-cost_country_sourcing

and debt-deflation..

She thought she was on either team soros or getting a great bargain, meanwhile the nation sank damn near into systemic default.. the ridiculous cunts.

In reply to by rrrr

Obsidian Samctum Wed, 02/14/2018 - 09:19 Permalink

Panic, run for the hills, inflation is over 2%. This is good, it's not deflation.  It means growth, we can't have high growth without inflation.

This isn't stagflation, because we need much higher inflation to cause stagflation. This is just the rumblings of a massive super economy beginning to rocket into the history books as the greatest come back in world history.

Economic records are being broken. We haven't had this kind of record breaking growth in decades, but naysayers whine of debt and compare China, well there would be no debt if we didn't have a massive trade deficit, especially the $400 billion China trade deficit. But we're going to fix your little China wet dream, we're cutting into the trade deficit and we're allowing the American slave the opportunity to produce the same cheap plastic. And to win back lost industries but with a high tech upgrade. We're winning, but it's going to be a long run to 18 months. I predict in 18 months from the tax reform act, the US economy will break every and all growth records in all economic reporting categories. AMERICA FIRST. In reply to by Obsidian Samctum MK ULTRA Alpha Wed, 02/14/2018 - 09:45 Permalink Boy, you really drank the kool-aid, didn't you? I like Trump, I really do. But it will take more than cutting taxes and a few trade deal to save the sinking ship called the US economy. Debts are way too massive. Too much consumption and not enough production. People have a sense of entitlement and are counting on the government to pay for their health care and retirement. Lawmakers spending like drunken sailors. No fiscal discipline. Sorry, But the most likely scenario right now is massive money printing and eventually hyperinflation. In reply to by MK ULTRA Alpha Mementoil Wed, 02/14/2018 - 10:20 Permalink There is a fundamental underlying trend in productivity, energy production isn't being measured for productivity input. The US is in the early phase of natural gas conversion. The supply and demand is endless. (proven reserves are proving unlimited, the numbers keep rising.) The Obama era green energy movement and natural gas conversion has stalled crude oil consumption growth in the US, at the same time, US crude oil production is breaking records. Crude oil imports compared to ten years ago are much lower. The green energy economy, the endless supply of natural gas, and record breaking oil production is changing the economy. Since 2015, the lower price of oil gave the US an economic tax break. The repeal of the ban on exporting crude, (traded for in a congressional pork filled budget), has reduced bottlenecks for production, coupled with the recent tax reform act has goosed energy production and exports. Lower amounts of imported oil and increased exports of US produced oil, this is a new dynamic. Added to the equation is the great wave of natural gas conversion, and the continued life of the green energy movement. (the majority of green energy projects have finished the payout period, and real equity is being returned.) The energy complex dynamic is changing the productivity input for the economy. In reply to by Mementoil MK ULTRA Alpha Wed, 02/14/2018 - 09:51 Permalink No, no, no. Pessimism is our salvation. Every metric portends doom, rising OR falling, it is ALL bad, and the wise prognosticators have no solution. It was doomed It is doomed It will always be doomed The reality is that it is the speculators who are doomed, and they know they are trapped like rats. This is their Ponzi. Let them choke on it... I've got to get to work. In reply to by MK ULTRA Alpha MK ULTRA Alpha Wed, 02/14/2018 - 10:06 Permalink MK ULTRA Alpha Check your "record growth" orgasm with a condom of accumulated money printing. "Growth" floated on a sea of credit - claims on to-be-earned actual money - is an illusion that is only sustained by those who believe it is real. In reply to by MK ULTRA Alpha mayhem_korner Wed, 02/14/2018 - 10:36 Permalink We're winning, record low unemployment, soon the retirees will be called back to work to supplement the reduced pension and social security. Higher prices from growth, big deal when everyone is employed in the new Trump America. Grab a shovel, tax reform act, repatriation of offshore profits, defense build manufacturing boom, record oil and natural gas production,$1.5 trillion dollar combined federal, state and private infrastructure build, and the Wall.

Put your work clothes on and work boots on, stand up and be a man instead of whining like a child raised in a single mother household with zero male influence. Momma victim, child victim, daddy bad, then child grows up and fights American because America and authority is daddy, communist defeatism and victimism is taught on campus, in the schools and on television, with a background of no opportunity and a dependent codependent government Nanny state relation, it's all woven into the culture.

But we're winning just the same.

In reply to by mayhem_korner

Rickety Rekt Wed, 02/14/2018 - 11:07 Permalink

Have you always been depressed? It sounds like a whining excuse, just give up and die, right?

The work force is growing. It takes 18 months to see real results from an action impacting the economy.

18 months from the tax reform act, the economy will be breaking every record.

In reply to by Rickety Rekt

skbull44 Wed, 02/14/2018 - 10:58 Permalink

If they say CPI went up 1/2 a percent we know it had to go up at least 1 percent.

... Someone needs to develop a stat/index that measures "shrinkflation" and "substitution*"

* Although sneaking cheaper ingredients/components into products is never going to be information that companies volunteer.

In reply to by skbull44

Snaffew Wed, 02/14/2018 - 10:09 Permalink

You can't actually tell what the gold and silver price is.  You can tell what the paper GLD and SLV price is, but that's just feed for the Trough of Misinformed.

Trough of Misinformed - dilly, dilly!

In reply to by Snaffew

Snaffew Wed, 02/14/2018 - 10:47 Permalink

I agree. Buy any precious metals dip if you have not acquired your ounce goal. If they are going to give it away, take it.

Do know, however, that the "powers that be" who control this market are now 99.9 percent confident they can do this, maybe forever. And they are going to have to do this for as long as they want to keep using the printing press as needed (which is a long time).

In reply to by Snaffew

Mementoil Wed, 02/14/2018 - 10:42 Permalink

Just the regular morning paper smash. Take a snip of the action every morning and throw it into a word document and you will see that 9/10 days are the same pattern.

If gold moves too fast then derivatives explode, never mind the fact the the east has been buying hand over fist for years. US losing control of gold price = US losing world dominance and USD to the squatter.

In reply to by Mementoil

Mementoil Wed, 02/14/2018 - 11:05 Permalink

Substitute the word paper, for gold.   Then rest easy in the Truth.

'Gold' isn't going anywhere until (real) fear grips the market.

No worries though, because fear has a dinner date with us soon.

In reply to by Mementoil

Mementoil Wed, 02/14/2018 - 13:51 Permalink

Not ridiculous. Actually, very typical.

Trump’s wide mouthed, legion of shit eaters are enthusiastic about the same economy in place from 4 years ago.

They are are no longer filled with as much fear stemming from their Satanic hate-driven fear of people of ethnic backgrounds and different religions.

The racist morons are always ready and willing to amaze their lord Moloch.

For peace will never be attained when the darkness of desolation is the chosen pathway to damnation.

Just admit that you guys can’t be at peace in your own skin. You all want to see others suffer.

It’s a constant itch inside your skull.

God bless you scum.

The ego can never let you Rest In Peace.

In reply to by Mementoil

phatfawzi Wed, 02/14/2018 - 10:44 Permalink

The NY Times has a story (linked on Drudge today) about the "boom-bust" economy in California. It actually acknowledges that California's swelling budget surpluses have been caused by the unbelievable increase in stock valuations.

They don't come out and say it and don't publish specific numbers on income tax receipts or capital gains tax receipts, but the bottom line is this:

The massive bubble in the stock market was the salvation of California's state budget. Now note the recent stories on the precarious position of state employee pension funds, which also depend on the stock market never declining.

If indeed the stock market (and other markets are rigged) how in the world could "they" allow this balloon to burst when so many states and people depend on it only inflating? They can't.

In reply to by phatfawzi

Give Me Some Truth Wed, 02/14/2018 - 11:12 Permalink

Keep in mind also that 'Social Media' (FAANG's), got their legs just as the last downturn was getting underway.    It was serendipitous timing for Silicon Valley, as this area would have suffered probably worse than other areas of the nation hit by the downturn had this new phenomenon of sending selfies and sharing each other's personal issues over a smartphone never got going, nor the $ad-revenue which fueled it... California's economy consists of (4) sectors: - Technology ($ad-revenue by any other name)

- Defense/Aerospace (The 'MIC', primarily So Cal)

- Entertainment (Primarily So Cal)

- Government (Primarily the Central Valley)

In reply to by Give Me Some Truth