This is a hell of a week for stocks. We have option quadruple expiration Friday, and with the Dow very near the same levels as last month, we don’t expect too much out of the ordinary until the following Monday.
Despite being up 50 points in the early futures trade, remember the market STILL needs to put on 1,281 points in order to post a new record high – and it needs this level by a week from Thursday. Otherwise, we are at that problematic 55-day zone I’ve told you about.
Friday, I should have changed my name to Ben Dover, though. That’s because my levered short position didn’t roll like it could have…and that cost me more than our gambling outing this weekend. Speaking of outings…
President Trump will be in California inspecting new Wall prototypes this week. That will be interesting because it’s the kind of trip where a “left field” event might occur.
The L.A. Times this morning sums it up this way “Trump loves winning, but in his presidency and business, California has gotten in his way.”
In our view, however, the only thing in California’s way is? California.
Not hard to figure, though, given the California bullet train costs soar to $77 billion, opening delayed. Typical California project management.
Do they not teach zeroes and minus signs in schools out there? Used to, I know, when we were there.
Who is Programming the damn Kids?
The short answer is likely left wing teachers.
I say fire ’em. We send children to school to learn – not to become political pawns. Walk outs and days off? For the kinda of money we pay in taxes for schools? Exsqueeze me? WTF?
The long answer begins with the story in the Chicago Sun-Times “Student walkout over guns poses balancing act for schools.” Only if they have idiots in charge.
These are kids and they (frankly) aren’t bright enough to manipulate the national media this way without grown-up subversive help. And I can tell you from the peace and quiet of the outback that it’s the left-wingers who are selling the kids a “day off” (it’s as good as a free lunch promise).
This is organized efforts to disarm America in play, as we see it.
Speaking of Commie Overthrows
You have been watching, we trust, the China One Man for Life Rule that president Xi is undertaking?>Already the apologist articles are appearing. Like Time’s “‘More Opposition in Mao’s Time.’ Why China’s Xi Jinping May Have to Rule for Life.”
Well, let’s see: If you lock up or isolate all opposition, why then, sure, you can pull it off. Even Mao knew the dangers and in his reforms of 1982 set in place obstacles to this kind of takeover.
Which leaves us with the echo of Hitler – which eventually led to the invasion of Poland in 1939 which set things on the road to World War II. Only in our future rhymes with past view, this means China will “lebens raum” Taiwan (and whatever else they want) in less than 10 years and that will be the eve of World War III.
In this iteration of Stupid Humans Repeating, we are likely to see China as the new Germany while Russia will reprise the role of Italy. Not that Putin hasn’t made the trains run on time but also Russia Says It Successfully Tested a Hypersonic Missile. But U.S. Officials Aren’t Worried. Something about “time to market” perhaps?
The better news is we STILL get a Depression.
The best news is that with Friday’s market action, the case warms for a blow off to the upside for markets that could last another year…but we shall see how the next week goes.
Warhammer‘s take is more moderate in comparison:
“Whether he is called President, Chairman or Emperor, Chinese leader Xi Jinping was gifted with some serious job security late last week.
What national plans and goals require a lifelong leader? I encourage people to think about that for more than a minute. The move to make Xi president for life is a clear indicator of national intent.
One naturally wonders if Comrade Supreme Putin will maneuver to eliminate the Russian prohibition of holding office for more than two consecutive terms, doing away with the inconvenience of having to vacate the position for one term until he can once again be elected later on to two more. consecutive terms.
Putin is not an oligarch, since as an ex-KGB officer, he lacks the wealth required to earn that title. Putin is not an autocrat – yet. Until the Russian rule mandating no more than two consecutive terms is eliminated, he is an elected leader. We may learn more about Putin’s intentions as 2024 approaches.
My primary interest is in the sudden resurrection of autocratic rule in the 21st Century. The trend is troubling, as epic decisions impacting countless human lives rests in the hands of a very select few, or just one. History proves this trend does no produce good results.
Power is seductive and, as history proves, the root cause of tyranny is generally followed by misery on an epic scale. Science fiction writer David Brin once said that power doesn’t corrupt, it attracts the corruptible. All eyes should be on Xi and Putin and their future moves as rulers.
Benito Putin and Adolph Jinping, yah mean?
Woes of Warren
The NY Post is having fun reminding people that once-attractive political hopeful Elizabeth Warren is refusing to take a DNA test to confirm or deny her native American claims.
Cue the music for this one... (another one bites the dust).
More Serious Native Matters
Fairbanks is shrinking. We’ve always like the Fairbanks Daily Miner and their story of what’s going on in the sometimes-frozen North is worth study.
But there is something else, too.
We happy to have (distant) relatives who lived in southeast Alaska in a smaller rural area. They felt “pressured” into leaving because Alaska native peoples are re-asserting primacy in some areas.
Given the relatives are not native Alaskans, I get that. But keep an eye on first people’s up North. They’re looking at the folks from “outside” a little differently now, we hear.
And given America’s track record in dealing with first peoples? Can’t say as we blame ’em a bit.
The lower 48’s vision of “progress” seems to inevitably involves line, higher taxes, resource depletion, grandiose schemes and crooks in office.
And speaking of TV, did you see where The Church of Scientology Is Launching its Own Television Network?
What Goes Up…
Comes down badly – and the wryrony is that it’s in the N’s today: New York and Nepal:
And since there’s an old airline saying thatr “Crashes happen in three’s”, the story “Iran recovers black box from Turkish plane crash killing 11″ must mean the next month should be extremely safe for flying…
And with the “Dallas-bound flight makes emergency landing in Albuquerque” out of the way….
Defining National Purpose
We’ve bemoaned non-stop the lack of a HUGE national goal for America – something on the order of “going to the Moon” and such.
But now, check this out: “Dubai Decrees Itself the A.I. City-State of the Future.”
Uh…this leaves the U.S. to claim it’s future as the largest, most divided, brain-washed country in the world as a goal maybe?
Oops! Already there, lol…
Weather, NOT Climate Dept:
And while Ure pondering that, did you read about the new book that details what we’ve long suggested: About Al Gore’s quest to “...become world’s first ‘carbon billionaire’ – ‘Lavishly’ profited off climate lobbying ?”
Repeat after me, kiddies: Everything is a Business Model.
Almost worth buying the book to see how B.O.’s funding (as an Ill-state senator) of the original carbon exchange figures into this… too many books to read, not enough time.
Point is: Climate talk is not about ACTION – it’s about power and bilking the stupid.
Now, if you don’t believe it, write a check to make it rain, then write a check and make it sunny. Get back to me on how that works out. During our lifetimes, if you please?
As Social Blows Up
We spied this on our point that social media is bad for you: A combination of personality traits might make you more addicted to social networks.
Consumer Prices are on the menu for Tuesday’s breakfast. I wouldn’t be surprised to see a fair bit of upside.
Producer Prices and Retail Sales for Peoplenomics readers Wednesday morning.
Thursday, Philly Fed and NY Fed numbers come out plus import and export prices.
Friday – quadruple witching plus industrial production and housing starts.
In my view, right now we’re in a pretty good spot: We have lots of overlap in the economy. Old businesses are still there and new ones are coming on line.
Where we run into the ditch is when the old jobs peter out and the new jobs – made more efficient with technology – do the same work but with fewer people.
Did you see the modern spin of phone booths is coming around?
Now, if we could just outlaw phones in public places so we don’t have to suffer through loud conversations….why that would clean up the environment nicely, wouldn’t it?
Moron the ‘morrow…