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Big Middle Finger to the Fed (strong language inside)
I'm still hopping mad - 10 hours later.
I must be getting old... my football team loses last night and I'm over it in about an hour. Maybe I care more about money and the state of my country than football?
Anyway, I feel the need to just let it fly. I had thought the Fed was going to hold the line. Hell, even at 5.25%, inflation is STILL too high. And now it's dropped, and likely to drop again. My thoughts were that the Fed would either hold steady, or give a token 25 point drop as a bone to wall street. I had thought the chance of a 50 point drop with an "ode to our banker friends" as remote, less than 5%.
Boy I was wrong. And I'm still ******* mad.
Partly I'm mad because I've divested a lot of my main stock holdings this year, but I'm more mad because of what this means for the future. But yeah, losing 5% on every single liquid dollar in my name has me pissed the fuck off, and maybe even more pissed at what I won't be able to afford in the future, despite having a good white collar, upper middle class type steady job.
More inflation. Higher oil. An attempt at retriggering the housing bubble. Stagflation much worse than what we saw in the 1970s. Class warfare?
Not that I didn't think these things would happen before. Nor did I think we would get someone with the stones, intelligence, willpower, and political backing of Volcker.
And who knows, maybe it is too little too late.
But still, I just want to give a big FUCK YOU to all the ******* banksters out there especially the head bankster, the former head bankster, and especially all the lying fuckers that talked tough on inflation and then voted for the 50 bps rate cut (I'm looking at you William Poole).
And yeah, blah blah blah gold silver platinum oil copper palladium hard assets - while I get the message, I'm underweighted to where I should be in commodity based investments due to the fact that I was waiting for a nominal Ka event in the stock and equity markets (it's the value investor in me - I don't like to buy something unless it's screamingly undervalued). Which may still come? Geez I ******* hope so. Doubtful at this point. Gotta pull back, no investing decisions for a week, see where I stand and what I want to do.
I can't ever remember a time where I have been more pessimistic about the monetary, political, and social aspects of my country, and maybe i'm just being a young curmudgeon, but I seriously feel like this is one very, very dark day for the US of A. So go to hell Greenspan, big middle finger to you Bernanke, Mr. Poole, you are a lying sack of dog shit, and all the Fed governors who continued to talk about fighting inflation, you are all lying bastards who are doing more to destroy the fabric of our society more than any criminal, drug dealer, addict, car thief, or murderer, you should all be sent to seven years in a federal "pound me in the ass" prison and be made to watch Office Space over and over again Clockwork Orange style.
I must be getting old... my football team loses last night and I'm over it in about an hour. Maybe I care more about money and the state of my country than football?
Anyway, I feel the need to just let it fly. I had thought the Fed was going to hold the line. Hell, even at 5.25%, inflation is STILL too high. And now it's dropped, and likely to drop again. My thoughts were that the Fed would either hold steady, or give a token 25 point drop as a bone to wall street. I had thought the chance of a 50 point drop with an "ode to our banker friends" as remote, less than 5%.
Boy I was wrong. And I'm still ******* mad.
Partly I'm mad because I've divested a lot of my main stock holdings this year, but I'm more mad because of what this means for the future. But yeah, losing 5% on every single liquid dollar in my name has me pissed the fuck off, and maybe even more pissed at what I won't be able to afford in the future, despite having a good white collar, upper middle class type steady job.
More inflation. Higher oil. An attempt at retriggering the housing bubble. Stagflation much worse than what we saw in the 1970s. Class warfare?
Not that I didn't think these things would happen before. Nor did I think we would get someone with the stones, intelligence, willpower, and political backing of Volcker.
And who knows, maybe it is too little too late.
But still, I just want to give a big FUCK YOU to all the ******* banksters out there especially the head bankster, the former head bankster, and especially all the lying fuckers that talked tough on inflation and then voted for the 50 bps rate cut (I'm looking at you William Poole).
And yeah, blah blah blah gold silver platinum oil copper palladium hard assets - while I get the message, I'm underweighted to where I should be in commodity based investments due to the fact that I was waiting for a nominal Ka event in the stock and equity markets (it's the value investor in me - I don't like to buy something unless it's screamingly undervalued). Which may still come? Geez I ******* hope so. Doubtful at this point. Gotta pull back, no investing decisions for a week, see where I stand and what I want to do.
I can't ever remember a time where I have been more pessimistic about the monetary, political, and social aspects of my country, and maybe i'm just being a young curmudgeon, but I seriously feel like this is one very, very dark day for the US of A. So go to hell Greenspan, big middle finger to you Bernanke, Mr. Poole, you are a lying sack of dog shit, and all the Fed governors who continued to talk about fighting inflation, you are all lying bastards who are doing more to destroy the fabric of our society more than any criminal, drug dealer, addict, car thief, or murderer, you should all be sent to seven years in a federal "pound me in the ass" prison and be made to watch Office Space over and over again Clockwork Orange style.
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