Zip! Pow! Bam! Socialism bad-

... unless you are a corporation facing insolvency....

Day Traders generally ain't worth a damn... Arrogant Gordon Gecko Young Republican wannabes, bragging about how much money they made on blah blah blah. No one knows market movements like those guys, though, (they've lost enough money in one minute's time to be fully aware of sudden spikes the wrong way).

Fly at IBankcoin.com cracks me up daily, along with his flytrap of faithful followers. He's always close to the target, but it's the nature of the daytrading mentality to secondguess themselves. While they are bobbing and weaving, trading jabs- investors are standing back, waiting for the time to unload the haymaker and call it a day. Reminds me of the old Dad and son bull joke...

"No, son, let's walk down, and fuck em all".

Fly's dead on with his assessment of today's news, though -

Wasn’t it nice to find out there is NO inflation, via today’s CPI data? According to the Fed, gasoline and commodity prices went LOWER. Ha.

Something tells me the g-men are trying to save a few bad dollars in social security payments, via juking the inflation data to appear benign.

Forget about what the idiots with pocket protectors say. We have run away inflation. Trade accordingly.

Apparently, (BSC: 32.48 -43.02%) is on the brink of insolvency. As you know, should the worthless assets of Bear Sterns be recognized for what they are (worthless), the world would slip into a black hole and be eaten by dinosaurs.

So, in order to prevent world destruction, the NY Fed, in their infinite wisdom, decided to save Bear Sterns. Very nice.

Let’s sum up the bullshit country we live in:

During the worst housing crisis in 100 years, we’ve learned, NO ONE is allowed to fail. Everyone is too big. From homebuilders to money centers to low-end brokerage houses to monoline insurers, if you need a little scratch, knock on the Governments door and they’ll help you out. This, as you know, is not capitalism. This is socialism heavy, not light, which is disgraceful.

However, none of my bickering or sharp spikes in interpersonal acts of violence will help anyone make money.

Here’s how I see it:

Fuck Dennis Gartman. Ride this sucker out. When I smell panic, there is bound to be some sort of shoe to drop. Just so you know, the Fed is panicking. If you’re the nervous type, hedge some of your downside plays, with a few longs. No big deal.

Inevitably, those betting on the downside will be right, as the recession deepens and little fuckers like Bear Sterns get washed out.

UPDATE: Watching Dubya (for moral and fiscal inspiration) on CNBC: Quotes as fast as I can type them:

"Interesting times ... Envy of the Free world ... ups and downs ... this is not the first time since I've been the President that we've faced economic challenges... corporate scandals and I have the difficult decision to confront the terrorists (lol)... resilient...flexible...Fortunately we recognized the slowdown early and took action... may sound incongruous (nailed it!) to you...robust... once I sign the bill, the signal's clear... tax rebates (bitches!)... buoy the consumer. (keep em bobbing in the ocean?) ... it's coming! Those checks ...second week of May... that's what the experts say (Bernanke, Paulson?)... I respect Ben Bernanke (heckuva job, Bernie!)... we also hold dear the notion that the Fed acts independently (snort!)... adding liquidity... some financial institutions... must repair their balance sheets (no sheet!)... make more credit available (max out, Amerka!)... promote stability... foreclosure disrupts community... temptation for people to limit the number of foreclosures is to put bad law into place... anything short of a massive intervention... deeply concerned about law- ... (hang on, picking myself off the floor... people in office staring)...

a couple of ideas I strongly reject... purpose of government ought to be to help the individuals... (ouch, couple of Bush corporate supporters just felt stabbing pains in their necks)... it sounds reasonable in a speech, I guess... market is in a process of correcting itself (to the bottom)... checks...second week of May... we want to help you refinance your notes!... 300, 000 families (and their mortgage lenders!)... walked across the street in Midland Texas and said I need a little help (Daddy!)... foreign country... hard to renegotiate the note... (no speaka da english)... industry wide standards ... (AAA ratings for all!)... whole purpose is to help people stay in their houses (and keep paying those mortgages!)... beginning to help, problem we have is, a lot of people aren't responding to letters send out... pay attention.... toll free numbers (wake up Amerka- we'll gladly ADJUST your finances to uh.. a better deal, yeah, thats it)... complete transparency... too complex... better confidence...strengthen oversight (oh noes!)... rough period... long term negative effects on the economy... without paying taxes (taxes is teh bad!)...
Congress... uncertainty...major source of uncertainty... (when is he going to mention terra again?)... if Congress doesn't act, capital gains will be taxed at a higher rate (oh the poor are worried about that!)... waste some of your money... Challenge congress to cut earmarks.. (Iraq is a biiiiiiiiggg earmark)... sent Congress a budget... priority... put those troops in harm's way... beyond that... non-security spending (all money for war) ... calm people's nerves (oh, THAT'S what he's doing?! My bad)... whether or not this country is confident enough to open markets overseas (China needs YOUR MONEY)... dangerous for this country to become isolationist ( I LUV Dubai!) ... made it clear... important agreement...national security... most Americans don't unnerstand... terrible signal... false populism.. (them, the people, bad)... work the issue hard... a confident nation accepts capital from overseas (keep buying our dollar, Please?!)... NAFTA has been good... best way to describe govt policy is like a car in a rough patch... its important not to over-correct... important to be steady... deal with the issues as we see em (yeehaw,bitches!)... respects- uh....

Uh-oh question and answer time... chuckles gonna wing him some. Expect laughs and lot of "uhs". Okay, got to stem the cerebral hemorrhaging... can't take it anymore.

Oh shit- "we got to figure out what the enemy is saying on their telephones" Christ on crutches, this bastard is full of shit.