Friday, June 10, 2016

Friday videos: I hope you know that this will go down on your permanent record


It's my birthday and I'll do what I want to, so I'll play a shit-ton of Violent Femmes cos they were my fave band of highschool:












Tuesday, June 7, 2016

Some morning reading


Stuff:

Barron's - y u so negative? They point out the S&P is a hair's breadth from an all-time high, yet negativity is at extreme levels. That suggests to me that a breakout could fly 10-20% in a couple months as all the panty-piddlers rush to jump back in... then again, maybe that will create increased chances of volatility when the UK votes to leave the EU? But at the same time, isn't everyone else already thinking this?

Da Fed - Lael Brainderd's speech. Provided for you because she seems to be the one who has the most brains on the Fed board.

Tim Duy the Fed Guy - June is off the table. He sums up all the positions advanced publicly by Fed members over the past few weeks.

Monday, June 6, 2016

OH SHIT IT'S YELLEN AGAIN


New Deal Demoncrat - weekly indicators. Nearly green across the screen. Quote:
As I indicated above, there is very little in the high frequency data that is outright negative. In fact, the long leading indicators are about as positive as I have ever seen them. With the Fed presumably on hold again after Friday's jobs report, perhaps the broad US$ will also fall back from negative to neutral. Taking the K.I.S.S. approach of simply looking at the Index of Leading Indicators, they have been basically flat since last summer -- implying an economy limping along but not falling into outright recession this year.
Again, quit piddling your panties and buy the imminent fucking breakout to all-time highs.

Calculated Risk - Yellen speaks today at 12:30. Oh shit. Okay, don't buy til after 12:30 then. Cos you know liquidity will dry up and you'll see a 2-3% spike in one direction or other. Stupid to think that you can make money with stink bids on QQQ... but there you go, that's the robot apocalypse for you.

BI - Rosenberg's a fucking retard again. He's calling for a fucking recession based on one jobs report. He's drawing all sorts of investment conclusions based on one jobs report. Rosie, you need a fucking subscription to Bespoke Investment Group. And because you need a fucking subscription to Bespoke Investment Group, you are therefore a fucking idiot clown who shouldn't be allowed to manage other people's money.


This is what you're ignoring about Muhammad Ali


There's a lot of commentary right now about Muhammad Ali, and yet so far I haven't seen or heard any that gets at the central point of why he was great.

This is the central quote:

"I ain't got nothing against no Viet Cong; no Viet Cong never called me nigger."

This is right up there with anything ever written by Jefferson.

Muhammad Ali was not great because of conscientious objection: there were thousands of Quakers who did the same thing and were forgotten. And he wasn't great for resisting the Vietnam War either.

He was great because, in that one sentence above, he reaffirmed a basic tenet of democracy that is forgotten even today: no democratic nation can deserve patriotism from a people who've been spat upon by that nation for their entire existence.

"Why should they ask me to put on a uniform and go ten thousand miles from home and drop bombs and bullets on brown people in Vietnam while so-called Negro people in Louisville are treated like dogs and denied simple human rights?"

Again, that's an entire treatise on democracy distilled into one sentence. And it's something that even the Supreme Court in Clay v. United States stayed away from, instead letting him off on a technicality and burying their support for his "religious conviction" in the written opinion.

They stayed away from what Ali really said, because to address it would have meant forcing the nation to deal with the continued oppression of their own legal citizens.

And this week, everyone who's hailing Ali for being a run-of-the-mill "war resistor" or a "conscientious objector" is also ignoring his real thesis: that no nation deserves the patriotism of people who it's treated like an enemy for decades.