Equity futures are close to even this morning despite failure once again for a Greece deal (default) to be consummated. The Euro is much higher, dollar lower, bonds rolling over like the Costa Concordia, oil higher, gold & silver higher, and food commodities continuing to strangle those on the margins.
Remember WHO the “private” bondholders are that will take the haircut on any Greek default… they are primarily the large banks who created the money they used to “buy” the bonds from nothing. Any “deal” will only cause a paper loss which will be immediately replenished by more money from nothing deals. A true default would wipe the slate clean, but not here, no, they are talking about only wiping the debt to the 120 laughable percent of GDP level – which means the country is still beyond the macroeconomic debt saturation level. So this will set precedent for the rest of the countries who will then also have to be defaulted down to 120% of their GDP. LOL, it’s all a joke meant only to enslave the majority of the nation, strip it of its assets, and keep the private bankers in power.
No meaningful economic data today, quite a bit later in the week though, with the first whack at deceiving the masses with 4th quarter GDP being the highlight of the week this Friday. The complicit expectation is for a whopping 3.1% growth, up from the current Q3 lie of 1.8%. Whatever the current lie, look for it to be subsequently lowered, and overstated by at least 40% in the real world.
I’ll be working two boat shows over the next two weeks, and therefore this will be my last post until the second week of February. Fred will be posting on occasion and will have an open thread posted each morning where I know you will update one another on the latest data and events, thank you for that.
The shows will be interesting as the Sportsman’s Show in Puyallup is supposed to begin setup today, but as of last night was still without electricity from the ice storms that devastated trees and power lines in that area. I understand it looks like a war zone, there was so much damage.
Speaking of war zones, the EU has just imposed more restrictions on Iran following the U.S. sailing an aircraft carrier up the Straight of Hormuz yesterday. This does sound like baiting to me… just remember that desperate people do desperate things, and those in power will do desperate things to hold onto that power – thus other events are coming.
Regarding what's left of the "market," the VIX closed below the lower Bollinger Band on Friday and it looks like it will close back above it today. If so, that is an entire market sell signal - for what it's worth in this manipulated, money from nothing, end of empire stage:
I hope everyone has a good couple of weeks, if you get the chance come visit me at the Seattle Boat Show, Century Link Field through February 5th.
I, Nathan Martin, no longer consent to the lies.