Merry Christmas!

Ya gotta admit it. Its all good. No inflation this year contrary to my prediction last December.

Oh, I know you think that Oil up 25% with Gas prices also up 15% doesn’t mean anything. Oh, I know your think that Health costs and insurance climbing 15% or more is nothing. You been to the grocery store recently? Its up only 1.5% right? Rents are rising exorbitantly in many areas as are home prices now. Funny how these costs just don’t show up in our inflation metrics any longer. How convenient. As long as there is no inflation, we can print until the cows come home. We can run the stock market assets to the moon. And of course, we can just run our debt to the moon with no interest rate checks to check it. Watta plan.

I have coffee with multiple guys that have pensions and most of them are government pensions. One of the guys that’s a broker was trying to explain the insane mathematics to them and why our future system just can’t work without a drastic reset to our expectations. I could tell none of them wanted to hear him. I laughed because he is a respected speaker to other brokers in his national firm. Funny thing, he predicted the 2008 crash in a conference of several hundred brokers in 2007. He wasn’t asked to speak at a major conference since. He laughs about it because he knows that his warnings are not welcome again. In fact half his clients refuse to take their winnings out of the market in spite of his warnings.

My point is simple. It’s all good. And when it appears to be “all good” and you are seeing all of the big numbers on the stock market, a very important part of a ponzi is accomplished and that is CONfidencece. Once you have the marks herded into the chute then you know EVERYONE is in. You have no more buyers for your grift. Oh I know, you think its not a grift. Or maybe you think its a grift but it can just keep on going and you missed out on it. 

That is not the purpose of a grift. The purpose of the best grift is to take all the money from the mark without knowing it was all a grift and your money has been stolen. So what are they doing now. Not only have they run the market up to nosebleed areas but “they” are telling you now its gone up too high too fast. You’ve been warned.  The grift sends out their grifters to warn you that its too high and the grift sends out the barkers to tell you the market has further to run and its not too late to get in on the final innings. So they try and rope in the last of the suckers knowing the emotion of greed and “missing out” on this fantastic run will win over the emotion of fear.

If you don’t believe that, then all you have to do is take a look at Bitcoin. Its run up to 11K and now all of the final suckers are jumping in with predictions it will go to a million. I don’t know when they’ll slaughter them but I do know they will harvest them.

So Merry Christmas….The Dow at 24K and Bitcoin at 11K…..what more can you ask for. Just don’t do anything foolish like buying gold or silver.