Ode to Rigged-Market Interest

Markets always crash, or do they,
When large-cap blue chips borrow for free?
Have central banks found a new way,
To shift risk away from you and me?
                        - MacDougal Irving

     By now the current bull market, so long in the tooth, should've gotten pancaked by chop-blocking short-sellers, but hasn't.  This bothersome state of affairs screams out for explanation, and we've been waiting patiently for some brave guru to step up and offer even a remotely plausible one, but none of them have accepted the challenge.  Well, to our satisfaction anyway.

     Seizing on the "this time is different" conceptual roadblock for a possible reason why, we went there, a politically incorrect place where no market analyst in good standing has ever gone before, owing to the awful likelihood of being laughed out of his/her profession, and thence forever shunned by former colleagues and peers. What we found, however, demands mention - and also delicate couching in terms strongly indicating that it was what we observed but by no means concluded, let alone ended up believing in - unless, of course, said opaque images get turned into reality at some future date, no matter how unlikely that may seem to possibly us and definitely our fellow marketeers at this point in the financial underside of a confounding space-time continuum presently unravelling across the entirety of all 46 states comprising Trump's America.

     Getting right to the point, there is a difference this time, and has been for some years now - the utter destruction of our former free market in United States Treasury Bonds.  Central bankers have shut down that entire operation to prevent Wall Street from making the Communist Party pay the real cost of Washington runaway spending.  Fake news is a topic that at least reaches voters' ears today, fake interest a matter successfully banned from appropriate public discussion by Deep State propagandists.

     The existing Federal Government should not exist.  Under capitalism, it would've been dismantled a while back, buckling under the crippling weight of financing it's exorbitant ways, and thence taken apart piece by outrageous piece, all guilty parties sent packing by voters, themselves taken to the cleaners by hyperinflation, the inevitable outcome now deferred to another day by gangsters at the Fed.

     You don't see different, gurus?  I'll give you different.  OUR MARKETS HAVE NEVER BEEN MANIPULATED BY COMMUNIST PIGS BEFORE.  Now come up with the consequences of that.

     Okay, okay, sorry for the rant.  What we saw next was scary.  A commie trickle-down thing giving large-cap blue-chip corporations interest rates that don't hold their managements financially responsible either.  Recently enough in Europe, crazies were actually paying the likes of Coca-Cola money for the privilege of investing in Coke bonds under market conditions called "negative interest rates", meaning CEO's and them could screw up in all kinds of ways, and at that moment in time actually get paid to coat failure with all the financial paper they needed.

     Scary part is, this puts public companies in partnership with the pinko government.  Why should the stock market fall when there is absolutely no reason to think that large-cap blue-chip managements will ever face the cost of a financial mess ever again?  How should markets deal with the risk/reward thing when there is no risk?  Crashing does not appear to be one of the options.  Unless Trump is planning to change all this by bringing back free markets.

     That's what we see at and beyond the "this time is different" conceptual roadblock.  Superdonald leaving things alone, no crash ever.  The Man of Deal bringing back the old T-Bond market, hang on to your shorts as we get reverted to the days of yore.  And sure, the mob at the Fed has hinted at bumping interest rates up if this that and the other thing, or whatever, but nobody has given any indication of 1) bringing Federal spending under control or 2) not dropping interest rates back to zilch or minus if perceived pinko needs be.

     And so, you can understand our lament.  Where is a real guru when you want one?