Smoot-Hawley the sequel?

[conraddobler]

http://www.dailymail.co.uk/news/wor...s-tell-bankers-The-party-ready-crackdown.html

Now don't get me wrong, this had to happen in some ways but when Barney Frank is the worlds spokesman on regulatory reform, we're doomed.

What Mr. Frank and Co probably fail to realize IMO is the extent to which our system is a ponzi scheme and when you take a ponzi scheme and make it impossible for new entrants to continue it, the entire ponzi scheme starts to unravel.

Not that we don't need to do that, it's just that I don't think Mr. Frank or anyone else has any clue as to what they're dealing with here.

This is what happens when politics meets up with it's past transgressions.

While Mr. Frank et al were looking the other way the bankers erected the worlds largest ponzi scheme then levered it many times over.

It's not just your garden variety ponzi scheme it's about like the H bomb is to the first atom bomb, it's a doozy.

Not only that but where there was in old days about one, now they're everywhere.

Barney, you're never going to believe what's comming.



"Disclosure"

I'm about to get shorter than a piss ant's toe hair.

 

[jefftheshark]

Wasn't Smoot-Hawley the erection of trade barriers and tariffs in order to stop the importing of cheap goods and jump start a "buy American" campaign?

JTS

and yes FAZ, PSQ, SDS & possibly DUG

 

[conraddobler]

Wasn't Smoot-Hawley the erection of trade barriers and tariffs in order to stop the importing of cheap goods and jump start a "buy American" campaign?

JTS

and yes FAZ, PSQ, SDS & possibly DUG

Yeah it was but you're never going to see that same mistake again, it'll be something like this, which isn't really a mistake, it's just a failure to grasp where you really are moment.

When you're in a ponzi scheme you can't stop being in it and expect things to work out.

Once you stop allowing it to feed itself, even if it's sick and broken it will die suddenely and violently.

So yeah IMO this or something like it will be our version of the Smoot Hawley thing that shoved us right back down into the deeper depths of the depression.

The grim nature of this message might be enough to do it for the markets but again be nimble and use stops, the games get worse and more violent about now.

Not trading advice but I'm getting an all out short urge, which usually means they'll bounce it good on me to start with, I'm usually a great fade in terms of being early on this stuff.

 

[jefftheshark]

Yeah it was but you're never going to see that same mistake again, it'll be something like this, which isn't really a mistake, it's just a failure to grasp where you really are moment.

When you're in a ponzi scheme you can't stop being in it and expect things to work out.

Once you stop allowing it to feed itself, even if it's sick and broken it will die suddenely and violently.

So yeah IMO this or something like it will be our version of the Smoot Hawley thing that shoved us right back down into the deeper depths of the depression.

The grim nature of this message might be enough to do it for the markets but again be nimble and use stops, the games get worse and more violent about now.

Not trading advice but I'm getting an all out short urge, which usually means they'll bounce it good on me to start with, I'm usually a great fade in terms of being early on this stuff.

On Friday we saw a large reversal to the downside on "good" GDP & confidence news. This seems to be telling me, at least, that the wall of worry has been scaled and there are thousands of fingers poised over the "sell" buttons right now.

I could be wrong, but the market looks overbought even with the correction we've seen so far.

The last thing is that there is very little going on in either the country or the world to make someone bullish, while there are a ton of geo-political events (Greece, Iran & China all come to mind) that could trigger a big move to the south. Right now, there's too much upside risk and not a lot to the downside.

JTS

 

[conraddobler]

On Friday we saw a large reversal to the downside on "good" GDP & confidence news. This seems to be telling me, at least, that the wall of worry has been scaled and there are thousands of fingers poised over the "sell" buttons right now.

I could be wrong, but the market looks overbought even with the correction we've seen so far.

The last thing is that there is very little going on in either the country or the world to make someone bullish, while there are a ton of geo-political events (Greece, Iran & China all come to mind) that could trigger a big move to the south. Right now, there's too much upside risk and not a lot to the downside.

JTS

Looks a little bullish this AM.

I'm an amazing fade on timing I tell you.

Which is why I've learned to fade myself, if that's even possible.

 

[jefftheshark]

Looks a little bullish this AM.

I'm an amazing fade on timing I tell you.

Which is why I've learned to fade myself, if that's even possible.

I just came on here to post the same thing myself

JTS

 

[conraddobler]

I just came on here to post the same thing myself

JTS

It's opposite world.

I think I'm technically and fundamentally correct which means they'll run the market the other way.

If I feel uber bearish, then it's bullish, if I ever get bullish, then it's bearish and I've come to accept this but it's very odd to trade this way, it works though.

I just wait until I have a really strong feeling and do exactly the opposite, it's odd, it feels weird and I have no idea why it works but it does.

The only thing is you have to try to avoid psyching yourself out, I've caught myself trying to trick myself which does no good.

Sybil has nothing on me, but at least my trading nut gets bigger, all that matters.

 

[Gaddabout]

How do you close Pandora's Box once you've opened it?

 

[jefftheshark]

How do you close Pandora's Box once you've opened it?

I don't know, but you better damn well marry the poor girl!

Signed,

The Religious Right
Somewhere In The Deep South, GA

 

[conraddobler]

I don't know, but you better damn well marry the poor girl!

Signed,

The Religious Right
Somewhere In The Deep South, GA

It was like that when I got here, honest.