“Demagogues are like the fishers for eels; in still waters they catch nothing, but if they thoroughly stir up the slime, their fishing is good; in the same way it's only in troubled times that you line your pockets.”
Aristophanes, The Knights
Well, the end of year shenanigans to add some coin to the bonuses might not be all to waste.
We might get a decent shorting opportunity for January. But we will have to wait and see about that one.
Someone asked me today about my 'year end' predictions. I rarely give any.
January is likely to set the 'tone' for the equity markets for the year.
My long standing forecast is for stagflation, and that has not changed. Deflation is a possibility, but as I have said repeatedly, that has to be a policy decision in a purely fiat currency.
And the financial elites are doing quite a few of the things to foster that, given their propensity to use top down stimulus and virtually ring fence it for their own speculations.
The stock markets overall appear to be very 'fragile' and susceptible to any shocks, even of a moderate character. However the Fed and the TBTF zombie banks are increasingly brazen in their interventions.
Have a pleasant evening.