Yeah, screw it, I just can't be serious about any of this.
BI - yay, Marxist class rhetoric is back in fashion! Venezuela recently arrested over a hundred capitalist parasites; Maduro announced "we have more than 100 of the bourgeoisie behind bars at the moment."
This is so awesome, because now it's cool again to use words like exploitation, proletariat, worker's struggle, world revolution, and rentier capitalism. (Just don't mention the lumpenproletariat if you want to make friends!)
Plus maybe we can start up new Baader-Meinhof gangs, with hot communist chicks carrying machine guns:
|My favourite scene from der Baader Meinhof Komplex. Yeah, I fapped vigourously to this chick.|
What a beautiful world this will be.
Reuters - China unveils boldest reforms in decades. The thing about the China policy leak.
FT beyond brics - China's Plenum: not a dud. Wendy Liu at Normura nails it:
The equity market is driven by a series of short-term macro and micro considerations. A mix of some misplaced hopes and overlooking some real nuggets may have contributed to investor disappointment.Well, duh.
We did not expect the reforms to offer short-term upside, but rather medium-term structural upside.
Based on the policy priorities outlined in the 3rd plenum Communique, it appears to us that Beijing has taken a pass at going after the short-term gain.
Bloomberg - Republicans asserting reliance on gold as world loses faith. A nice long article on how the gold trade is mixed up with the American retard trade. Frankly, one big strike against gold is that it's the god of the clueless moron set.
Ritholtz - remember that thing about QE meaning currency debasement and inflation? Usually Josh is the asshole in this duo, but today Barry O'Ritholtz lets his Irish heritage shine with a succinct reminder of who the morons are who were predicting hyperinflation back in 2010. And who's on the list? Zerohedgers like Cliff Asness, James Grant and Jim Chanos; but also Republicans Dick Bove and Bill Kristol. And thus, the deeper truth: Republicans are morons.
And it's important to read the comments for some context: even if these guys someday end up right, in the meantime they're wrong, and thus their prediction was untradeable.
And this is important to remember: as far as I'm concerned, the guy who "will be proven right someday!!1" is not worth listening to. I'm not going to wait 5-50 years to put on an armageddon trade! I want to make money now. In any case, these clowns are never saying "we'll be proven right someday!!1"; every single missive coming out of their ignorant mouths asserts that apocalypse is right around the corner. Thus they continually prove themselves wrong all over again, each day.
Also interesting to me is this little gem from Barry about John Mauldin in the comments section:
Years ago, I used to post John's work sight unseen. As he went deeper into the partisan craze, less of it appeared here.Since you read this blog religiously, you'll know what I think of that apocalyptic clown Mauldin and his recent association with the Ayn Rand worshipping fruits at Casey "Research". So it's nice for Barry to come out and admit that it was a bad idea to dump that clown's blather in our inboxes.
You will note that I post less and less of his work these days.