Pass the Saki

With one major move we have become Japan with a zero interest rate environment. You heard it here six months ago as I opined that the actual event would happen by January, I was two weeks early. I have also purchased Rosetta Stone tapes to learn the language of France as we are almost fully nationalized. I will now wait patiently for ten or twenty years for the privatization of America. I hear it will be all the rage as those crazy Europeans did it back in the mid eighties with great fanfare.

Last nights post rang true today as the greenback collapsed and the commodity sector took off as well as the entire market. Helicopter Ben has now become Bunker Buster Ben as he did his best version of " shock and awe." The market bought it, so did I. The financials completed exploded higher today as did most sectors. Interesting how DIG and OIH were up but the actual commodity was down. Interesting how UYM rocked but no one is buying the underlying commodities. China's steel output just plummeted 11%. Interesting how the Baltic Dry Index has been up for five weeks strait,but not because the economy is booming but because they are being rented out for floating warehouses because no one is buying the junk they are storing.

The Fed is out of bullets as far as rate cuts go, unless they want to throw in the last 25 basis points for good measure, but promise that they have more arrows in their quiver. I'm thinking total forgiveness of outstanding mortgage, auto and credit card debt as a keen place to start. Let the peeps just start over, why not the banks and autos have?

Yes my post is saturated with cynicism but thankfully that has kept me short throughout this entire God awful economic implosion. Santa's belly is almost full and soon it will be time to release the hounds of hell on the short side. In the meantime I'm doing what an greedy bastard would do and I am getting long the rally. I will ride the bull butt naked into the sunset wearing my propeller hat knowing the shorting Gods are protecting me.

And a shout out to my best pals from Chatham NJ. Jeff, Nunzy, Suzy and Nancy. I miss you all terribly.