They’ve just about kicked this Fiscal-Cliff Dead Horse (FCDH) into the ground as deeply as they have repeatedly done so with the Endless Euro-Debt Crisis (EEDC), haven’t they?
On the one hand, I’m sick of feeling like we’re being held hostage once again by a bunch of corporatist politicians and bureaucrats.
On the other hand, we have made a ton of money over the last couple years by buying whenever the markets and media panic over the EEC and selling the subsequent relief spikes, so why not just accept the market as it is and since we know that the impact of any FCDH is meaningless in the context of the ongoing trillion dollar wealth transfers to the Too Big To Fail/Too Big to Jail banks, GE, News Corp, and all the other giant corporations endlessly begging, lobbying and propagandizing for ever more direct and indirect welfare, tax breaks, subsidies, below market loans, etc. So let these damn corrupt powermongers from the Republican/Democrat Regime at every level of the government continue to spend as much of our and our future generation’s money on blowing up asset bubbles and ensuring record corporate earnings and margins and share of GDP as they possibly can while they play their faked debt and deficit concerns with these repeated updates, speeches, and leaks about the FCDH, the EEDC, social welfare programs, and so on.
We’ll just have to continue to follow our playbook of buying the panics and selling the spikes as long as the asset bubble blowing business booms like it is. Stay flexible though, because these Republican/Democrat Regime Corporatists and their cohorts around the world are hellbent on pushing these markets, the economies, these societies, and these citizens who will eventually pay for all these wars, bailouts, and other wealth transfers upwards til they truly break. Even if that breaking point has nothing to do with the FCDH.
As for trades, I am shorting some RIMM common stock as it’s up 100% in a straight line, has started to crack and will report its earnings on Thursday after the close. The thesis being that expectations are now high heading into the RIMM report and that there’s absolutely no way that the company could possibly report anything tangibly positive. The risk is that the company foolishly hypes the next quarter’s numbers to the point that the bears and shorts like me have to squeeze themselves out as the longs and bulls decide to gamble on the future, hyped or not.
Just a trade, and I plan on being out either Friday or early next week regardless of whether I win or lose on this one.