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What a Week that Was

So after I commented on how the Fed was going to screw everyone, I sort of vanished on my readers by having the audacity to go across the state to Orlando, sip sake and eat sushi at Illume on top of the JW Marriott, then visit the critters at SeaWorld for the first time in about 20 years.

It was fun, I love feeding the seals and sea lions with overpriced smelt while drinking Bidenflation priced beer (youch, $11 for a Bud Light!) but hey, it’s a mini vacation because that’s what we do in Florida. Those of us who are natives either hang around here or go further south, thus why the Caribbean is our favorite back yard hangout.

Before I left, I decided to move back to the dark side and re-enlist into the Twitter army with a new screen name (@RealJohnGaltFLA) since I can not get my old handle back and after seeing what it has become under Elon Musk, I can say it’s more fun as a little anarchy never hurt anyone. Exception granted for the red wine machine maintenance department which may or may not have been laid off by Musk during The Purge.

Equity markets ended not on a sour note but a death warning to all the bulls be they plastic ones or in their mom’s basement. The rally on Friday in the DJIA was nothing but short covering again as the shorts are playing this yo-yo game like an expensive violin and the longs are begging suckers to come in and buy their garbage before stocks like AAPL or META break to new generational lows.

The chart for the S&P 500 over the last 9 months is nothing pretty and in fact holding a major downtrend quite intact heading into the mid-term elections.

I state that the chart looks worse than 2008. Why is that?

In 2008 there was a known issue with credit quality and financial stability. At this time there is no “known” issue only whispers and rumors about credit, liquidity, and financial system stability. One fact that is undeniable however is that inflationary trends are intact and the government data reported, be it real or politically concocted, is indicative of an economy on the precipice of an inflationary death spiral; yet the Fed refuses to actually liquidate assets to accelerate the credit contraction to reduce the risk of hyperinflation. Just like every other central bank in the Western world by the way, no matter the damage to emerging market economies politically or economically.

Buckle up ladies because after the post GOP wave rally on Wednesday all bets are off. We could find ourselves in a very dark place very quickly. Especially if President Dementia keeps pushing the issue of World War III to save the globalist economic order.

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