Loading ...The Titanic
We can sympathize with the disbelief of the officers, and with their contradictory duty to simultaneously reassure passengers and attempt to goad them into the lifeboats. Passengers were reluctant to heed the warning because it was at odds with their own perceptions. With the interior still warm and bright with lights, it seemed far more dangerous to clamber into an open lifeboat and drift off into the icy Atlantic than it did to stay onboard.
The evidence was undeniable, but humanity’s first response is denial, regardless of the evidence. The evidence that the coronavirus is contagious is undeniable, as is the evidence that carriers who have no symptoms can transmit the virus to others.
As a result, the first lifeboats left the doomed ship only partially full. Only when it became undeniable that the ship was doomed did people attempt to get on a lifeboat, but by then it was too late: the lifeboats had all been launched.
This may be an appropriate analogy to the U.S. stock market, which is widely considered “unsinkable” due to the Federal Reserve’s unlimited ability to create “liquidity” (cash) out of thin air.
The stock market just had a minor collision with the coronavirus, and few are heeding the warnings, preferring to heed the reassurances that thanks to the omnipotent Federal Reserve, the market is unsinkable, and the party in the First Class deck will continue indefinitely.
https://www.zerohedge.com/markets/coronavirus-and-unsinkable-titanic-analogy
Buygold @ 7:23
Some real funnies there! 🙂
Interesting chart
Gold miners – patience will pay off in my opinion #Gold #Silver #preciousmetals #GDX #GDXJ #HUI #business #finance #investments #stocks #stockstowatch #stockstotrade #StockMarket pic.twitter.com/MbJJGSnXk4
— Northstar (@NorthstarCharts) January 28, 2020
Buygold @ 7:53
Lots of shorts / hedges going on due to the contagion so they could drop a nuke right now and the machines would still rally the Dow.
Have a nice day.
Lost in the shuffle a Fed meeting today? No wonder
“The dollar’s next moves could be determined by the U.S. Federal Reserve’s meeting later on Wednesday where the central bank should reiterate its on-hold stance. But speculation has risen that the Fed could provide an additional boost as a result of the virus outbreak, with money markets predicting one 25 basis-point rate cut this year and a small chance of a second.”
US Event Calendar
- 7am: MBA Mortgage Applications, prior -1.2%
- 8:30am: Advance Goods Trade Balance, est. $65.0b deficit, prior $63.2b deficit
- 8:30am: Wholesale Inventories MoM, est. 0.05%, prior -0.1%; Retail Inventories MoM, est. 0.1%, prior -0.7%, revised -0.8%
- 10am: Pending Home Sales MoM, est. 0.5%, prior 1.2%; Pending Home Sales NSA YoY, est. 10.3%, prior 5.6%
- 2pm: FOMC Rate Decision
DOW just jumped another 70 pts.
Not sure what that was about, maybe one of the components had some great earnings.
Looks like Monday’s action will be erased by the end of the day and long forgotten by Friday as a one day wonder.
A little sports humor after a dismal day. Sometimes ya just gotta laugh..
Infamous Sports Quotes – Old Ones From the ‘Net
1. Don Meredith, Dallas Cowboy Quarterback, once said: “Coach Tom Landry is such a perfectionist that if he was married to Raquel Welch, he would expect her to cook.”
2. Harry Neale, professional hockey coach: “Last year we couldn’t win at home and we were losing on the road. My failure as a coach was that I couldn’t think of anyplace else to play.”
3. Reggie Jackson commenting on Tom Seaver: “Blind people come to the ballpark just to listen to him pitch.”
4. Doug Sanders, professional golfer: “I’m working as hard as I can to get my life and my cash to run out at the same time. If I can just die after lunch on Tuesday, everything will be perfect.”
5. Mickey Lolich, Detroit Tigers pitcher: “All the fat guys watch me and say to their wives, ‘See, there is a fat guy doing great. Bring me another beer.’”
6. Tommy Lasorda, Los Angeles Dodgers manager: “I found out that it’s not good to talk about my troubles. Eighty percent of the people who hear them don’t care and the other twenty percent are glad I’m having them.”
7. E.J. Holub, Kansas City Chiefs linebacker regarding his twelve knee operations: “My knees look like they lost a knife fight with a midget.”
8. Vic Braden, tennis instructor: “My theory is that if you buy an ice cream cone and make it hit your mouth, you can learn to play tennis. If you stick it on your forehead, your chances aren’t as good.”
9. Walt Garrison, Dallas Cowboys fullback when asked if Tom Landry ever smiles: “I don’t know. I only played there for nine years.”
10. John Breen, Houston Oilers: “We were tipping off our plays. Whenever we broke from the huddle, three backs were laughing and one was pale as a ghost.”
11. Bum Phillips, New Orleans Saints, after viewing a lopsided loss to the Atlanta Falcons: “The film looks suspiciously like the game itself.”
12. Al Hrabosky, major league relief pitcher: “When I’m on the road, my greatest ambition is to get a standing boo.”
13. Paul Horning, Green Bay Packers running back on why his marriage ceremony was before noon: “Because if it didn’t work out, I didn’t want to blow the whole day.”
14. Lou Holtz, Arkansas football coach: “I have a lifetime contract. That means I can’t be fired during the third quarter if we’re ahead and moving the ball.”
15. Knute Rockne, when asked why Notre Dame had lost a game: “I won’t know until my barber tells me on Monday.”
16. Bill Walton, Portland Trail Blazers: “I learned a long time ago that ‘minor surgery’ is when they do the operation on someone else, not you.”
17. George MacIntyre, Vanderbilt football coach surveying the team roster that included 26 freshmen and 25 sophomores: “Our biggest concern this season will be diaper rash.”
18. Rick Venturi, Northwestern football coach: “The only difference between me and General Custer is that I have to watch the films on Sunday.”
Maddog–I agree…”investors” blindly plow ahead pouring money into a handful of mega-caps…the “invincibles”….like the Nifty-Fifty
The world financial system is in grave danger…todays set-up reminds me of last Fridays set-up…I wish the VXX calls weren’t so high but I may just have to pay up and fade an up opening today or just buy 10K VXX out right…
R640
The scum have got the mkts saying, it was just a weekend knee jerk …..which considering that the virus has a 2 week period before symptoms are visible and that millions have left the area to go all over the world…is just insane.
Jeesh! Corona virus…Yeller Vests…now locusts!! Repent O Ye sinners! O, wait…The NY Feds’ trading desk will come to save the day and has the situation well in hand
The end is nigh, brother, the end is nigh!
World markets are like a pie crust stretched across the roof of a volcano!
Fu Manchu is about to pull the lever to the trap door!
Warbucks signals the trusty Punjab to cut the cords of the rope bridge!
Grease the skids! Happy tobogganing!
A Plague Of “Billions” Of Locusts Threatens To Create Horrific End-Times Famine Across Africa
Looks like the protests in Virginia worked well, 9 new gun controls laws coming.
French Firefighters Set Selves Ablaze, Spar With Riot Cops As Yellow Vest Chaos Resumes
Obese Americans who can barely get their asses of the sofa should learn from the french instead they just sit by watching the circus in Washington and their country fall apart. WINNING! Looks like the protests in Virginia worked well, 9 new gun controls laws coming.
MKT ALERT–TREASURIES WELL BID –EVEN THOUGH STOCK FUTURES UP–5 AM–AAPLE/GOOG/AMZN/FB/NFLX TSLA ALL UP
Huge Turnout at Trump Rally In New Jersey
They camped out all night in the cold to get inside stores bars giving specials like the MAGA Rita drink. 🙂
Maya
It was probably tears of joy that white goober who if the shoe fits had to make something up it so wasn’t directed at him this time.
CNN’s Don Lemon Asks Whether A ‘Black Hole’ Swallowed Malaysian Plane (VIDEO)
https://talkingpointsmemo.com/livewire/don-lemon-black-hole-malaysia-jet
CNN Calls Trump Supporters Stupid Illiterate Rednecks
Don Lemon howls with laughter as panel imitate southern accents
https://www.zerohedge.com/political/watch-cnn-calls-trump-supporters-stupid-illiterate-rednecks
…and we’re DEPLORABLE, too!
Ipso
I pulled out a old book was looking for a story in it and ran into this. I think it was already too late then but not as bad as it is now. These people moving to other states need to be more informed and and use critical thinking skills to question these demos propaganda. Not just sit back believe what ever the tell them and vote in the same problems. How many times have they been proven false. Don’t let this happen in your state…
In this book it talked about unmanaged immigration which is now a global problem and expanding to propaganda even in schools. Same people who abandon the homeless. Now their going to charge home owners in one city 300 each to clean up the mess the homeless made.
Summed up:
One time with proper policies immigration was a blessing. Immigration is not a neutral factor in the maintenance creation of welfare. If fosters and expands constituencies who favor the extension of welfare programs which they benefit, In 1990 welfare participation as a whole was 9.1 percent that is 1.7 percent higher than Americans as a whole. National review 1994
Washington is asking Californians not only to tolerate four million illegals but also school them, look after their health and pay them welfare benefits. So it’s time for voters to stop putting up with this situation. Because the burden of immigration is greater than our resources to cope with it. National review 1994
I didn’t mention their names because these days they could be harassed.
Ipso
I feel for yeah. I’ve seen these people in LosAngeles. They didn’t listen when they had the chance or were scared of a oppressive government. They had to learn the hard way when except for a few pocket areas it was too late to vote it out. Now a large percentage are living in another state.
goldielocks
I think she would rather take the gas pipe than watch Fox News.
I just try not to talk politics with her. It’s pointless.
Richard
Someone once said, “Mother Nature will take care of over population.”
But yet these demos want open unmanaged borders.
The far more devious, subtle, but potent intent is to dial in just the right mortality rate to crash China’s economy and with it it’s political system. All without firing a single missile.
Even if the 3% death rate were to go global, it would burn out when only the survivors are left.
Given the population growth in Africa and India, this so-called epidemic is a drop in the bucket.
“We’re gonna to need a bigger boat”, ie. a meaner virus. Much meaner, if you want to reduce the world population by a significant percentage. You would need something that has 99 percent mortality rate for 90% of the population. It would also need a long incubation (4-10 weeks, not 4-10 days) for it to spread universally.
…
EVERYONE here is missing the Strategic Intent of this nCoV virus, if it is a release of an attenuated and patented version of the original Coronavirus (CoV) from a few years ago:
With a mild 3 to 6% mortality rate, the intent cannot possibly be to reduce the population anywhere. That’s just basic math (ye math numbskulls and logic failures).The far more devious, subtle, but potent intent is to dial in just the right mortality rate to crash China’s economy and with it it’s political system. All without firing a single missile.
If the Swine epidemic doesn’t crash the CCP, maybe this nCoV will. If not, the next version — with a 10-20% mortality rate — might.
Has the penny dropped? Has the light finally gone ON, ye shining 5W lightbulbs?
Re SILVER, versus GOLD, Adjusted For Inflation, Food For Thought
Since entering the workforce, in 1962, and getting married in 1965, most of the inflationary price increase changes I remember average 20 times more now than back in the day. In other words if a cup of coffee was .10 cents figure $2 a cup today plus or minus.
I remember we almost bought a house for $12,000, X 20 $240,000 estimate, and one on the waterfront $18,000 X 20 $360,000 estimate. They are more that though, more like $375 to $400k and $500k to $550k. on the water. There is a small cheap house for sale for $315k right now.
If I remember right, you could switch a paper $1 bill for a $1 silver dollar. You can get Silver Dollar today for around $20 plus or minus re condition. Or key date. Factor of 20.
Gold? When we were first allowed to buy it was $140/oz X 20? Should be $2800/oz today.
Silver Dollars were $1 and Silver Eagles today are $22.42, factor of 22, about where it belongs.
Therefore, we can say that Gold is more under priced than Silver. However, Silver being like a Penny stock can go crazy high and crazy low. We have seen both. Under $5/oz in many many years and $40 in 1980 $45 in 2011.
Silver Chart: https://www.mrci.com/pdf/si.pdf
Gold chart: https://www.mrci.com/pdf/gc.pdf
Ipso
She doesn’t know she’d watching propaganda news that is promoting dictators.
Suggest she watch Fox News at least.