Mark McHugh

Really, Really, Really Bad Theatre

In Open Thread on Monday, August 8, 2011 at 12:41 am

Standard and Poor’s has downgraded US debt….and NOW the sky’s falling?

Seriously?

The US government isn’t creditworthy, and hasn’t been creditworthy for at least three years now.  I know it. You know it.  China knows it.  So why is this news?  I mean shouldn’t this be filed under, “No shit, Sherlock.”???

A: Yes, yes it should. 

Do you understand that S & P’s parent company is McGraw-Hill, the largest publisher of educational material in the US?  Now ask yourself this: Why would they bite the hand that feeds them?

A: They wouldn’t.  Not in a million, billion fricking years.  There is only one reason S & P would downgrade US debt….They were told to do so.

What you are witnessing is a bull massacre, not a bear raid.  Think about it, everytime congress bends America over for Wall Street the market rallies to confirm the “wisdom” of our elected officials.  You could bank on it……..until now.

Every momo in the world was betting on a stock rally when the debt limit was raised.  Options and futures activities confirm this.  So Wall Street was going to have to pay out on some very large bets if stocks rallied as expected.  Crooked casinos aren’t designed to pay out, so stocks started moving down, somewhat slowly.  Instead of taking the hint, more momos went long.

This wasn’t supposed to happen.  They actually thought they debt ceiling drama would draw shorts for them to steal from.  No such luck.

The Fed-induced stock bubble is the closest thing Obama has to an achievement.  He needs to preserve it and the only way to do that is to feed Wall Street victims (meaning bears).  Thus all the chicken-little crap you’re seeing unfold.

I’m telling you again, the “set-up” for a market collapse isn’t there.

Too many people are betting on black, so red’s gonna come up until people start betting red…..

You sure you wanna bet on red? 

 

 

  1. Betting on red… well I also purchased a large life insurance policy.

  2. Good Luck.

    (That’s not sarcasm, by the way) At this point the move has been so huge, it would seem it can’t be easily reversed.

  3. I will BTFD just as soon as QE3 starts to bake in.

    Wanna vomit again? I have Larry Summers trying to be clever. http://dagnytaggart55k.blogspot.com/

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