the ilster

Friday Outlook: Commodities, Emerging Markets

That news release at 3pm EST. yesterday was BULLSHIT. It confirms again how much big brother is actually manipulating the stock market. You know damn well the fed has accounts set up to buy S&P futures. They do what ever they have to to try and prop up and distort this market. New leg down this Qtr likely as 1st qtr earnings will miss bigtime!!!!!!! Short IYR and long SDS

Dennis Gartman on Gold, Oil, Government and the Economy

Gartman says

"yes, we have relatively large amounts of debt, but you can go back to the recession of 1974; you can go back to 1980-81; you can go back to the recession of 1907, and you will see the same arguments—that the world is too debt-laden. And the same arguments, the same language, the same verbiage was always written in exactly the same circumstances. Guess what? We moved on. This time might be different, but I’ll bet that it won’t be.

How he can assume that this time will be different is beyond me. It is massively different that I know question this guys credentials. He is fired!

If we are lucky we get a depression and a write down of all this debt so we can start over. Otherwise we get a slow Japanese style recession or worse.