There are so many clowns on “financial news” television talking up the “Santa Rally” it almost as if they forget what is happening with interest rates, chart history, and the reality of inflation. More on inflation later tonight, but let’s watch some buffoonery from Used Car Salesman Business News TeeVee:
I just picked on Cramer because I can.
But wait, there’s more:
“Another bottom” ugh.
Sheesh. Everyone points to everything but reality.
Folks, here is some reality:
All we have heard the last month is “seasonality” and a stronger finish, blah, blah, blah.
Reality is that these talking heads, a few among many, have a book to sell. They want to dump their dogs on your doorstep and make you clean up the mess they have made.
When one hears the following phrases:
“Longer term view”
“Buy and hold always wins”
“Inflation is fading”
“These are bargains”
You know the bullshit is thick, smelly and heavy when you hear those terms.
As I have discussed on Twitter (yes, I am back as @RealJohnGaltFla) the potential for a crash from Wednesday through Monday is quite high. Will it happen? Who knows. Since I’ll be back on the road trying to save the year for my clients in South Florida I shall be texting and Tweeting more than writing.
But one thing is certain:
If we crash, it will not be a “garden variety” crash.
It will look like December of 2018 when Powell panicked and bailed out the banksters.
Which means something is very, very wrong with America’s financial plumbing if the Fed bails everyone out again.