It’s wet here today. Really wet.
Like there’s a two foot deep lake out front of my place…with cars stalled in it “type” wet. Hurricane “Ingrid” blew thru early in the week, and a smaller tropical storm has now developed in her wake. As with the weather here in the Yucatan “so it goes” in financial markets as well. Having missed one of the largest one day moves in USD in the history of my career “sitting out” – I can honestly say ” I’ve had better days”.
So there it is. Rain on my parade.
Bernanke “toes the line” and doesn’t even blink with the smallest suggestion of tapering. Zip. Zero. Nada.
The U.S Dollar absolutely crushed with one of the largest one day moves lower I’ve ever seen ( all be it sitting here looking to smash my computer screens to bits). Epic dollar destruction. Continued printing. Ponzi scheme “on”.
You’d expect that anyone in there right mind would perceive this as “very , very , very bad news” as obviously, if the U.S cannot afford even the “tiniest of tapering” you’ve gotta know the trouble runs far deeper than most imagine. This is bad news. It’s bad, bad , bad news – but what’s a guy to do?
You’re supposed to go back to work , mind your own business, but stay tuned to that T.V for further updates on the destruction of your economy and currency.
If I was “modestly bearish” some time ago, I’m now OUTRIGHT growling now, as this has now passed “all levels of reason”.
Trade ideas to follow but as it stands….we’ll wait to see reaction to this over the next “day or two” and stay open to the idea of a solid dollar bounce.