As I sit here sipping the finest tequilla, minding a couple of fillet mignon and working on some veggies – I contemplate what the boys in Washington are doing at this moment.
Obama most likely has his head in his hands or perhaps has “retired” to a private area – digesting the current fiasco playing out with respect to the “Obama Care” roll out, and good ol Uncle Ben can’t be too thrilled about the rise in USD.
Me? – I just cracked another cold one.
Could it be any worse for these guys?
People now realizing the incredible increase in payments, the difficulties in qualification, and the out right “lies” put forth over the past years in selling this thing to the masses.
I don’t know all the details, and likely never will – but what I do understand is “sentiment”.
When “investor sentiment” changes ie…people become enraged/ scared/fed up/rebellious etc…it always reflects in financial markets. If only a mirror of human behavior, as it pertains to both greed and fear – financial markets provide an incredible field of study.
I can’t imagine it could get much worse for poor ol Barak here, as people are pissed – really pissed.
Sentiment is on the verge of change/ rolling over – and we don’t want to be on the wrong side of that.
Kong, LOL, I think YOU may care more about the state of affairs here that ole BO. You way overestimate him. He’s probably planning where he’ll be hanging next with Jay-Z and Beyonce or better yet planning another golf outing with Tiger Woods. Life is good for ole BO. He’s set for life and I’m sure he’s going to make the most of the rest of his time with full access to the U.S.’s expense account. Also, unfortunately, I don’t think as many people here are as pissed as you’d think. Most of them have absolutely no clue what’s going on (though I suspect it’s the same or worse where you live). The people that voted for him like him. There’s been a movement sweeping the country for years now where people want “stuff” from the government (i.e., wealth distribution). They didn’t get the memo that such policies have never worked and never will. Maybe they’ll wake up when the Obamacare disaster hits home, but I wouldn’t bet on it with your money.
Long Dong Kong –
Just as you’ve suggested, people behave in unusual ways when they’re forced into a corner.
You phrased it as “people become enraged/ scared/fed up/rebellious etc…it always reflects in financial markets”. Totally, completely agree, 100%.
This rebellious financial market action is taking place right now all over China – the Chinese are jumping into bitcoin at an incredible pace and it is not going to stop. It’s spreading to non-US countries that are bitcoin friendly faster than latin american whores onto a tourist in a hawaiian shirt. Bitcoin=gold except nobody has any yet, and the panic hasn’t set in yet for the people who have spent the last three years dismissing it as cyber funny money/ponzi/etc. This is going to turn every fiat currency on its ass way faster than a central bank could do it on its own.
Get on it, seriously. This isn’t criticism, I’m hassling you because you’ve made me some money in trades before, I like reading your blog, and this pestering is owed to you and your readers.
-Galt
Pissed? The sheep finally woke up…..
I hope to see gold up for good! I’m a gold bug.