Sic transit gloria mundi
Numbers matter.The Benchmark numbers have been raised so high that the losses, as a percentage, are Tis but a scratch.DOW down -260.51, or just 1.50% in a Market pegged at 17,140.21.S&P down -113.54, or just 1.81% in a Market pegged at 2,000.54But then again, understanding math and arithmetic is not easy, time to review the lecture by Dr. Albert Bartlett: Arithmetic, Population and Energy - a talk by Al BartlettDepletion - the unrelenting race between a limited resource and those who demand to access it - THAT will be the ultimate determining factor. The Seneca Cliff approaches.
think it's nothing but a brexit over reaction . brexit long term will have about as much effect is the good old piigs did--- nothing but presenting a buying opp is all. now on to 2152! and beyond : )
Here it goes, as I see it now:Short term first:http://keptarhely.eu/view.php?file=20160629v00j30oh5.pngLonger term:http://keptarhely.eu/view.php?file=20160629v00jsk805.pngThere are other variations, like that last impulse upward on the short term map as a 'c' of an expanding flat or such, but it's better to keep it clean. In short: there is a possibility, that the end is near or it's actually happening, but it's just not nice - price actions in the past suggests that it'll be just another 'not yet'.
I wake up this morning and....Brexiteers 1 : 0 Scaremongers - UK Stocks Erase All Brexit LossesFTSE 100 is now unchanged from pre-Brexit as Osborne, Cameron and the fearmongers appear to have been proved wrong.Watch Nigel Farage give the EU HELL! As though Nigel was the ONLY Adult in the room scolding a group of pentulent children. Great stuff! The members can't stop sniggering'shortly after Nigel berates them for being lazy, incompetent Bureaucrats who have completely out of touch with the realities of the working man - upon which the unaccountable Bureaucrats prey. (starts around 4:30 mark) LOL!Farage Slams The EU Parliament: "You're Not Laughing Now Are You?"
I know you keep a close eye on the Yen/Dollar CG. What's your take on these latest moves?
last 2 days confirms brexit was overblown. much like the piigs from a few years ago. brexit will have little to no effect on the us economy. stocks are going higher, much higher. don't forget, they always come back. never once have they not. can't fight those odds. cg, your 2154 is safe
I actually would love to see a pullback tomorrow and Friday -- 50% to 2032. That would allow me to get long again. I covered some SPY calls today and want another long entry. I'm counting this ABC from the 1991 low -- maybe building an ending-diagonal into mid-July.The Yen looks like it's bottomed, but should also weaken into July, and I bet the W3 up on this one is something else.If July gives us a candidate top, it sure would be nice if the VIX is all debauched at 12 or 10 or some busted level. Puts on that first impulsive leg south will score big.
ftse up over 2.5% post brexit. fearmongers proven wrong again lol
Who's up for some divergences? http://stockcharts.com/h-sc/ui?s=%24SPX&p=60&yr=1&mn=0&dy=0&id=p78408797923&a=462502849
Hugh --Look @ a long-term chart of TLT back to the 2008 cycle lows.Now imagine if that one tops over the summer ... stocks and bonds selling off together ...
Searching for yield? Watching in amazement at a market which can only go upwards to reach new highs? Wondering why Reality has been blurred with FANTASY - and why now "PERCEPTION IS EVERYTHING?"You should have been an Illinois Teacher vested in a TRS Title 26 Section 401(a) pension plan.https://trs.illinois.gov/employers/guide/guide.pdf26 U.S. Code § 401 - Qualified pension, profit-sharing, and stock bonus plans(a)Requirements for qualification: A trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an employer for the exclusive benefit of his employees or their beneficiaries shall constitute a qualified trust under this section—https://www.law.cornell.edu/uscode/text/26/401Imagine - being perhaps derelict in your contributions to your pension, and in fact FIRST withdrawing your paltry contribution of $39,563 - then LATER ON convincing the local School Board to make a one time contribition of $105,000, with no payback provisions, to purchase "20 years worth of credits" in order to to secure a pension of $77,000 annually - subject to COLA increases. LOL.HEY! The article even speaks about "MONEY" As if it's an abstract thought.... ROFLAO"Money may be tight in Bellwood School District 88, but the school board still managed to quietly divert more than $105,000 from an education fund to replenish a retirement account its superintendent drained years ago.The money added 20 years of service to the Illinois Teachers Retirement System account for Superintendent Rosemary Hendricks. That change, under a TRS formula, would increase annual pension benefits to $77,000 from an estimated $14,000. Taxpayers across the state will pick up the tab, potentially for years to come.The move is another example of an Illinois school board diverting funds to help administrators land more lucrative retirement packages. The Tribune has written extensively about salary spikes, penalty payments and sweetheart deals that compound the state's pension obligations.District 88's attorney said Hendricks, 66, is required to repay the $105,504 to the district, but the district has not provided a copy of that agreement or any details about a repayment plan or said whether she must pay interest.What I can inform you with some certainty is that the item you reference was voted on by the BOE (school board) approving the payment of said amount and requiring Ms. Hendricks to pay the money back," attorney Michael Castaldo wrote in an email.The district did not disclose the spending during open records requests seeking details of Hendricks' compensation, but the Tribune found the $105,000 expense listed in a September document among scores of other district payments for routine bills including milk for school lunch, legal work and general maintenance.The terms of the spending have been so elusive that records show even the district's finance director and the Proviso Township school treasurer's office, which oversees District 88's finances, have been kept in the dark about whether Hendricks and the school board hashed out an official agreement over the spending."
CONTINUING:And quite FRANKLY - "This ain't your BUSINESS..."Hendricks withdrew all the cash — $39,563 — from her TRS account in 1998, effectively wiping out the roughly 20 years she paid into the system. As of last year, Hendricks had only 4.5 years of TRS service credits."You can buy back that service if you decide you want to go back to teaching," said Dave Urbanek, a TRS spokesman. However, it comes with a 6 percent annual penalty that compounds over time. In Hendricks' case, it cost more than $105,000 to replenish the money she withdrew.Hendricks declined to comment on her taxpayer-funded compensation."This is personal business," she said.LULZ.Why work?Work is for suckers and Illegal Immigrants. No wonder why the Muslims protest. FIAT is the alchemy of the gods of Industrial Civilization. The gods will be with us until The End of The Age. An ODE to Janet Yellen: via Carly Simon:Carly Simon - Nobody Does It Better
Ja, TSE, you do not reform this system.You do not argue over policy positions, proposals, or legislation.The system simply collapses and you tell the parasites that it's too damned bad that they didn't get their payout.Heck, with the Illinois, you have pension law in the state Constitution itself. Good luck reforming that one.
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