Rusty Shackelford

Maybe the US market is not overpriced at all, when you consider the ratio to Brrrrrrrrrrrrrrrr:

The difference in the two columns would imply huge single day moves that can’t possibly average out on the same calendar day over the years.

Yes, it’s to support companies future bond issuance. They’re gonna need to borrow a lot more.

Fed Has Purchased $1.8 Billion of Corporate-Bond ETFs So Far May 21, 2020, 3:40 PM CDT Federal Reserve purchases of exchanged-traded funds invested in corporate debt totaled $1.8 billion in the first six days of the program, according to data published Thursday. The ETF purchases, which are part of an emergency lending program aimed at backstopping corporate debt markets during the coronavirus pandemic, were revealed in the U.S. central bank’s weekly balance sheet update. The data also showed total assets held by the Fed rose to a record $7.04 trillion in the week through May 20. The Fed began buying ETFs through its so-called Secondary Market Corporate Credit Facility on May 12. Under the program, it plans to make both outright purchases of corporate bonds as well as ETFs invested in the asset class, including potentially some sub-investment grade debt. The weekly balance sheet data don’t disclose which ETFs the Fed bought, though the central bank has said it will disclose the names of borrowers participating in the program at least once a month. https://www.bloomberg.com/news/articles/2020-05-21/fed-has-purchased-1-8-billion-of-corporate-bond-etfs-so-far

If you want to make someone pay for this stupidity, you can short SoftBank $SFTBY https://www.cnbc.com/2020/05/18/softbank-ceo-calls-wework-investment-foolish-valuation-falls-to-2point9-billion.html

wework never IPO'd.

That big ol' building was the textile mill It fed our kids and it paid our bills But they turned us out and they closed the doors We can't make it here anymore See all those pallets piled up on the loading dock They're just gonna set there till they rot Cause there's nothing to ship, nothing to pack Just busted concrete and rusted tracks Empty storefronts around the square There's a needle in the gutter and glass everywhere You don't come down here 'less you're looking to score We can't make it here anymore The bar's still open but man it's slow The tip jar's light and the register's low The bartender don't have much to say The regular crowd gets thinner each day Some have maxed out all their credit cards Some are working two jobs and living in cars Minimum wage won't pay for a roof, won't pay for a drink If you gotta have proof just try it yourself Mr. CEO See how far $5.15 an hour will go Take a part time job at one of your stores Bet you can't make it here anymore

When Carter dies it will be the headline story in every backwater around the globe, good enough for me; but no doubt, Trump is an A-list celebrity.

I negged because it was a complete dumbass take. Every living US president is firmly on the A-list, no exceptions.

He wants production in 6 months, needs to find a decent factory to upgrade. Wait I know, there’s one in Buffalo NY not being used!

Airlines stock price “too high imo”

Not just Texas, NY just wrote down $1 billion for the investment they made in Tesla Gigafactory 2 that hasn’t produced squat and may never. https://www.wsj.com/articles/new-york-state-writes-down-value-of-tesla-plant-in-buffalo-11573159578

I’ll hold my excitement until we know how much we taxpayers will be forced to give up in tax incentives/corporate welfare.

That escalated quickly.

Anybody still holding airlines?

Tempted to jump in SRNE for power hour, see if it can get to $9 again. But nah, I'm actually having a really good stonk day with PRPLW

The Human Centipede

I've just been watching today, crazy price action.

$SRNE anybody?

Blackrock finally got the green light Fed Buys $305 Million of ETFs at Launch of Historic Program https://www.bloomberg.com/amp/news/articles/2020-05-14/fed-buys-305-million-of-etfs-at-start-of-historic-program?__twitter_impression=true

summary would not to it justice, try this link instead:

M2 yoy could be telling us something here, don’t you think?

Insanity confirmed. I'd love to see Jay Powell get this treatment from congress, but none of this matters anyway. It will get much worse before it will get better.

Got no $SLAB, $100 or mamacita. Feeling cry.