trading recap

Overall: “If voting made a difference, they would make it illegal,” tweeted Julian Assange, Agitator in Chief, tucked tightly into the Ecuadorian Embassy, his home of five years. Madrid had just arrested nine Catalonian democratically elected parliamentarians, charged with rebellion, sedition and embezzlement. 90% of Catalan voters who defied Spanish riot police, voted for independence. Catalonians are not alone in t

Overall: “Imagine 3,500 elephants,” said Andrew Jones, Exchequer Secretary to the Treasury. “Or consider 900 double decker buses.” And at least one bored American did. “That is the rough weight of the 1.2bln coins the UK public has handed in over the past six months.” You see the British have introduced a new twelve-sided pound coin, replacing the little round bloke they’ve had since 1983 (no longer legal tender effe

Overall: “I went to buy me another goddamn bump stock,” shrieked the mentally retarded, Prozac-popping American on the Federal no-fly list, terrified it might be his last chance. “But the price jumped on me faster than you can say NRA.” You see, bump stocks were quickly out of stock. That’s what happens when you threaten to regulate something, anything. And when the NRA is open to restricting our 2nd amendment right

Overall: “The United States does not recognize the unilateral referendum,” announced Secretary of State Tillerson. What does it take these days Rex? 93% of voters in the Kurdistan region voted to establish an autonomous state in northern Iraq. And the only surprising thing was that 7% voted against independence. In 1776 an estimated 15-20% of the population in our Thirteen Colonies were British Loyalists. But votes d

Overall: “Did he really call me Rocket Man?” cried the chubby Korean kid. “Yes he did Rocket Man,” said some nervous sycophant in a cheap suit, saluting his Dear Leader. “Did he call me a scared, barking dog?” barked earth’s most powerful man, typing a tweet. “Woof!” answered the President’s pack. “He called me a suicidal madman on Twitter!” stammered shorty, combing his black bouffant. “He said he’d tame Trump with

Overall: “The global economy will recover, but the timing and strength of the recovery are highly uncertain,” said Ben Bernanke, the experiment’s architect. “Government policy responses around the world will be critical determinants of the speed and vigor of the recovery,” he explained, in January 2009. Lehman failed the previous September 15th. On that day, the Federal Reserve’s balance sheet was $905bln, roughly 6%

Overall: First came Harvey, stormed right in. Unwelcome. Undocumented. Then Irma, up through the Cuban passage. On her heels is Jose. And no wall is containing that Mexican. Not even the Great Wall could hold back such a savage force. In fact, walls stop nothing, they simply slow an advance. China learned that the hard way. Mao walled in antiquity’s greatest economy, and stopped its advance dead. Walls weaken those t

Overall: Rain fell. The water rose. Rivers flowed. Their snaking paths hidden beneath a vast flood plain. Not a soul was spared. Not the whites, blacks, browns, reds or yellows. Not the Christians, Jews, Muslims, Hindus, Buddhists, or Atheists. They all got wet. And thrashing about up to their waists, these Americans joined hands, worked their way out. Which is not to say it was pretty. Disasters never are, neither a

Week-in-Review (expressed in YoY terms): Mon: Chinese bank leverage declines $270bln YTD (1st decline in 7yrs), Bannon fired (returns to Breitbart), Trump to prioritize tax reform, Trump announces Afghanistan build-up, S&P +0.1%; Tue: Chinese firms who trade with North Korea targeted by US prosecutors, South Korea and US military drills underway, South Korea and US begin talks on potential trade pact renegotiatio