We have what looks like a bull market, and if it looks like a bull, it is a bull. Unless of course it's a bull trap, and not a mini-1 day huge 1% drop "Biggest drop of the whole year" with bears salivating and piling on AFTER the initial morning move, AND getting killed the next morning gap up.
Funny how that works.
But the Nikkei is priced in JPY, and the futures NKD are priced in USD. Who will be the more "successful" printer? Maybe they "take turns" which seems to be the case for the major currency pairs over the last three years....currency wars....every country wanted their fiat the weakest so they can sell product to other countries AND have a defacto default on paying back their debts with fiat that is "worth less" if not worthless.
And in lieu of a real default, that is the way that it has to play. One exception, a real default like Iceland, who just whipped the creditors the bird and said you ain't getting no money, and then proceeded on with organic growth without the overhang of a debt that can never be repaid, a crippling debt, a confidence destroying debt.
But that said, Nikkei looks very BULLISH with a precaution that the big 38 Fibo from the 2007 peak to the 2008 bottom is potentially in play as resistance.
HBB loves it this way....you MUST put your assets at risk in the stock market in order to keep up with inflation, and then they can have their HAL 20000 computers work you over, running stops whenever possible, transferring wealth. It's war for your money under the pretense of a "civilized society with the rule of law".
And the next game up...the amount of money in tax deferred retirement accounts is roughly equal to the US national debt.....hmmmm.....for desperate politicians, do you really think there is any possible outcome other than the obvious? Even a chance of a different outcome? 5% chance even?
After all, unless you are not a "Patriot" you should let Uncle Sam use that money that you never paid tax on, and they will pay off the debt, making bankers and bondholders whole. Then they will enter an electronic note to your social security "account" to credit that amount....then once you reach 67 or 70 or 72 you may be able to start taking some of that out, around $2000 per month. BUT only if you pass a "needs test", which means if your other assets are above say $50,000 then you are "wealthy" and you don't get any social security or Title 19 until you are impoverished at $50,000. If you die, your remaining social security account just goes into the general fund, after all, you didn't "need it".
Government Generously Offers To Help You "Manage” Your Retirement Account http://www.zerohedge.com/news/2013-02-02/government-generously-offers-help-you-manage%E2%80%9D-your-retirement-account
ReplyDeleteWell after all, people did so poorly managing their own retirement accounts! Thanks to HBB and the grand theft.
ReplyDeleteThe central planners love to create the impression that the masses are incapable and therefore should be deprived of their freedom of choice. The gullible seldom consider how the same folly exists within the governing caste as well.
ReplyDeleteHBB?
HumongousBank and Broker, coined by Bill Cara to represent the big broker bankers
ReplyDeletecould it be that the government is in such a hurry to raid retirement accounts because the rightful owners might pawn their accounts first? http://www.foxbusiness.com/news/2013/02/05/rethinking-savings-plans-as-struggling-americans-raid-401ks/?Intcmp=taxes
ReplyDeleteyep, for me I haven't been contributing in around 5 years....saw this game coming. better to pay the tax and have freer will to do as you please, as long as you submit your foreign bank holding reports! LOL ouch
ReplyDeletethanks for sharing...
ReplyDelete