There’s no need friend, at least not yet… But I also want to remind you that no matter what risk cannot be eliminated, it can only be transferred. And in a representative democracy like ours where the state appears so vast and powerful that it can absorb essentially infinite amounts of systemic risk, the truth still remains that the state is like any other system: its ability to sustain monetary games is finite, as is its ability to fund unproductive churn indefinitely and its control of destabilizing risk.
Because in the end the only thing that is infinite about the state is the hubris of those at the controls and the narrow self-interest of those at its capacious feeding trough.
Poles, I think what ahhhaaa63 meant to say is that "a rising tide raises all boats". Unfortunately when it comes to CME I'm not too sure. Seems this boat is made of lead.
That was before ZIRP aka the mutually assured destruction (MAD) policy of our time.
I just wanted to further clarify my earlier statement on the markets & central bankers in particular.
Right now central banks see their main role as that of supporting asset markets, the economy, the banks, and the government. They are positively petrified of potentially derailing anything through tighter policy. Case in point Draghi's statement today. They will structurally “under-tighten”. Higher inflation will be the endgame but when that will come is anyone’s guess. Growth will, by itself, not lead to a meaningful response from central bankers, etc... I guess what I'm saying, is to my knowledge no country has ever become more prosperous by debasing its currency and ripping off its savers. And that’s why I think this will end badly... Hope I’m wrong though.
I wouldn't hold my breath... Besides, by the time any of this becomes 'law'--if ever, I suspect the lobbyists will have created loopholes the size of Scarillary's ego for HFTs to walk through.
Jeff, I'm not negative towards the market. After all, I have a sizable sum invested presently. No, I just think there's way too much manipulation these days... Right now the terrible irony in the central bankers official strategy of "buying time so the financial system can heal itself" is masking the real problem, which is that these same policies are prohibiting true healing and in fact guaranteeing that the next financial crisis will be greater in magnitude than the last one. That’s all.
Don't remind me... Have a few of those as well, CLF (down -34%) and NEM (down -26%). I would also add JCP to that list, but for no I'm still pretending I never bought it.
Poles, it's always good to have company...however our ship is starting to resemble the Titanic at this point. Now, I'm worried we might even strike an iceberg around the 67 latitude line... What's your take...where do you see the next support level, if any?
Cant say, I'm surprised.
Why are you surprised? He just wanted to make sure ALL of his distant relatives would be able to make it to his next family reunion.
THX for the TA insight Poles... For awhile there I thought CME was going to prove me wrong this year... Anyhow, I guess I was once again premature in my optimism. Still tomorrow is another day and miracles could still happen.
I sometimes feel like uttering Al Pacino's character, Michael Corleone's famous line from the Godfather III movie..."Just when I thought I was out, they pull me back in"...every time this happens.
Anyhow...yes, I to took a stab at it today at around 70, will probably regret it I suppose.
I suspect the same, already started trimming my AAPL position somewhat today... Same goes for this market, I know I'm starting to sound like your average tin foil hat wearing nut, but I just don't trust this market--I just don't see any sort of recovery taking hold, sorry.
Seems they're trying to ramp this market higher, but it doesn't seem to be working--at least it doesn't seem to be attracting other buyers... Oh well, maybe this "someone" will try again later.
…and I quote, “we increased our Q2 GDP tracking estimate by two-tenths to 3.9%."
What are these m0r0ns smoking, and where can I get some because otherwise I’m starting to feel as I’m living in a Twilight zone episode of some kind?