And Ho Hos. Don’t forget the Ho Hos.
Something tells us this is an underappreciated tail risk, indeed.
“Indeed, the Donald’s impending attack on the purported sacred ‘independence’ of the Fed is the Orange Swan that looms over the casino.”
The spillovers will be “tremendous.”
Got all of that?
“In effect, the Donald is taking credit for the doings of the plain old business cycle, and at the worst possible time.”
“The Donald is not leading America to the promised land. Instead, he’s leading it to war abroad, fiscal and economic calamity at home and a crisis of governance that pales Watergate into insignificance.”
Who’s “tired of winning”?
Plenty to fret about (and laugh at).
It was one of those rainy and damp days, I was finding my way out of the F-train subway on Bergen St. in Brooklyn. On the mezzanine level, in the corner of the stairwell, I noticed a young man, couldn’t have been much older than 30….
Apparently, Wall Street needs to conduct surveys to get a read on what the “word” from Main Street is, because after all, if you’re working in lower Manhattan and pulling in a cool 300k, you’re probably not spending a lot of time hanging out with the poors in social settings.
Without further ado…
“While the FBI was raiding the offices of Trump’s lawyer yesterday afternoon, the CBO published a blockbuster report evidencing the Donald’s own raiding party.”
“In the next recession, I would expect the P/E to bottom at about seven times, a lower low with earnings about 30% lower because of the recession. That would put the S&P lower than the 666 low of the previous crash, versus 2671 Thursday afternoon.”
#MALFRTIAW: Make America less fiscally responsible than it already was.