Nothing could be further from the Truth, however.
As we put pixels to photons (or whatever), a few very uncomfortable facts have to be held. in mind.
1. Amidst all the HS&J (hype, shuck, and jive) around sports this weekend, most people failed to notice that Iran is on the verge of abandoning the U.S. Dollar (USD) as the basis for settling their oil business.
To make this a kind of triple slap in the face, it tells us a couple of additional things, as well. One is that while many in the West think that the EU will collapse into the Second Depression ahead of the U.S. Iran by virtue of the militant brand of religion-marketing, may have grand designs on eventually subsuming Europe which is already well on its way to becoming Eurabia.
Here’s the count: To think the Euro is better than the Yen, Rubble, or Dollar? That’s one. Two, to have an invading force already hard at work changing loyalties in the EU is number two. And number three? We just pissed away $150-billion and the Obama administration appeals distinctly like a troop of idiots, even with what’s her name trying to run for office.
2. Second point is this: As we have been explaining, China is trying to build a Middle Class. And they are working on warrior values and chivalry (see Coping section). And North Korea is their lap dog.
The launch of the North Korean long-range rocket this weekend is being widely condemned, but guess what? They did it.
In response, the U.S. is doing lots of wagging about getting out your checkbook in order to tell Japan and (South) Korea that “We got your back…”
The problem with Secretaries of State is they seem to be terminally disconnected from a reality which we refer to now and then around here as economics.
Japan is kicking our ass on the international balance of trade numbers and so is South Korea. So hate to say it, but Kerry should get the hell of his bicycle and get over to Census and read a bit.
Now I don’t claim to be a rocket surgeon, or anything, but to me it looks like if Kerry is hinting at “installing” an anti missile system on the US Gov’s military’s dime (which comes right out of your pocket) he should get a lot more serious in his negotiating skills. In a word, Trump is right on this point.
Then we have the case of South Korea: We imported almost $70 billion while they bought how much from us, do you suppose? $44.5 billion.
Now, look. All fine to run around the world all macho’ed up and bike riding…got no problem with that. but when we have almost $100-billion of outright freeloading going on, seems to me that Kerry et al, including Denis Rodman’s boss, out to learn how to read a freaking balance sheet and get their poop back in order.
I don’t know how you feel about it (go ahead, leave a commend) but the points are pretty damn simple here.
A. IRAN took our money and turned around and is going to pistol whip us with it.
B: North KOREA just launch a space-capable rocket. They will use it to put one or two nukes into orbit crossing the USA. And then they will have us by the orbital nuts.
Sure, there’s a bit of “global outrage” but you don’t seriously think they give a rip, do you? If they did, would they be challenging South Korean navy patrols? (The quick answer is no but if you need some extra time this morning, it’s OK and we understand…)
I can hear the classified Rodman-Obama last-day in office discussion.
O: Well Denis?
R: Yes, the NK’s now have an orbiting push-button EMP system in place that they codename “Nightfall.” And, as you have planned, this will now be an infinitely modulated next demon for us to spend money we don’t really need to, on.
O: (sounding like Monte Burns rubbing his hands) Excellent!
Henceforth, between us here, the code-name Nightfall will be used to apply to EMP weapons which the U.S. government had copped to building for drone-sized delivery. NK would naturally want to counter such a threat by getting a system going and put it in space. The kind of thing that could be activated by a cell phone call from anywhere in the world and making it virtually impossible to protect against… (None of this is classified, by the way.)
If you want to blame the decline on Denver winning, great. Momma Manning has to be pleased with the boys, I’m sure.
But the market is a little more pragmatic and someone besides Ure’s truly may see the games that Iran and North Kimchee are playing.
When I looked, the futures were down 230- on the Dow. And there’s a little more than a side bet in the office pool going on here.
Back to Alka-Seltzer and reality, huh?
By the Way
For our lone reader who still insists on the Super Bowl driving markets, do you think it’s possible that the fact that all of Europe is down between 2 and 3% has something to do with it?
We notice that 2% off the Friday closing Dow would be a decline of 324 points today while a 3% decline would be a 486-point slider.
And since we have the technical problem described in our Saturday Peoplenomics.com report for subscribers, I’m guessing somewhere in the middle of that would be a reasonable toss at the dart board today.
Janet will be Yellen later in the week, as markets continue to engage in running the Fed instead of the other way around.
You will recall that the Fed supposedly raised rates in December. At that time, the 10-year Note was running 2.25%.
Fast forward to last Friday, and the 10-year was down in the vicinity of 1.85%. What does that tell you about the sincerity of the Fed “hike?”
Wednesday, Janet will be at the House and then Thursday at the Senate. Not that anything she says to the House or Senate Bumbling Committees will make sense, mind you. The big deal is can she swing the market from it’s current free-fall…that’s the part to watch.
That and retail sales Friday…
Bill Clinton Running
Well, not actually, but he sure sounds like it in the Time article Bill Clinton Revs Up Attacks Against Bernie Sanders.
That’s what we’d have to call the CNN headline: Syrian refugees: We did not flee for tents.
No, they fled to take over Europe and America and get a piece of the big pie, of course. And without paying…which is your job.
Meantime, we continue to be astounded by the political ineptitude and lack of actual leadership as once again Angela Merkel is back in Turkey as Syria push triggers more refugees.
ABC is reporting 7 people have been arrested in a supposed ISIS terror plot.
The “I Wish I’d Thought of It…” Department
Ziff Davis has a killer story here: Want the full MS-DOS virus experience? Time for a night at the Malware Museum
OK, so much for Monday…much to do so more tomorrow.