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Monday, August 31, 2015

'Sometimes You Win, Sometimes You Lose & Sometimes.. It Rains'

The above blog header is a silly-true baseball quote from the very good film 'Bull Durham' and can apply to the stock market as well..

An interesting thing happened in the world of sports last night that made us think a lot of the stock market..

For the second time in less than two weeks, the LA Dodgers were not only shut out but had a no-hitter thrown against them.

Previously it was by a Houston Astros pitcher; last night it was a Chicago Cub.
For those who don't follow baseball this means the opposing pitcher may had walked a Dodgers batter or on of their runners may have gotten on base due to a fielding error, but overall no LA player recorded a hit.

So you would think LA must be a bad team full of terrible hitters to suffer that indignity twice..

Except you'd be mistaken..

As of today they are 72-57, in first place in the NL West and 3.5 games up on the second place SF Giants.
Baseball is a lot like the market... so much ebb and flow; up and down.

Of course the game baseball itself unlike the market is not rigged.. We'll get back to that in a moment..

In baseball, the very best teams will lose at least 60 games and the very best hitters like Ty Cobb who's the greatest ever (a .367 career average) will only find success a little more than 1 out of 3 times at the plate.

Imagine how 'successful' you'd feel if you made it to work on time or cooked a dinner that did not burn only once every three attempts.

And in baseball you can be the recipient of a no-hitter yesterday then score 18 runs off 25 hits today..
It takes time to really decipher whether the ball club is really that good, that bad or somewhere in between.

We're told we're not supposed to look at the 1,600pt drop the other week as a bad sign of things to come; merely a 'much needed' correction yet when it spiked it was treated as normalcy.

Let's crunch a few numbers so we can get a more accurate read..

Eight years ago today, August 31, 2007, stocks were near the high-mark of pre-2008 crash with a Dow close of 13,357.  The actual pre-Fed intervention High took place on Oct 7th when the Dow closed at 14,164
Now we had been in an Official recession since the start of 2007 but either the markets didn't care or it took 10 months for the sluggish economy to catch up.

Remember, this is a market that represented the state of the economy with some degree of accuracy.

On August 29, 2008 (the market was closed on the 31st), the Dow was at 11,543, a near 2,000 pt drop year to year.   Once again, this was pre-Lehman..

By October 27, it hit its 2008 low of 8,175 meaning from the 2007 high to the 2008 low, the market dropped 6,000 pts or over 40% of its value
BTW, were you ever warned?  Your stock broker perhaps?  Those douches on CNBC and in the financial section of the NY Times..  Did they give you credible info to make the best decision in 2007 with your investments?

Do you know how long it took for the market to get back to the 14,000 figure it previously held in October, '08?

It took 52 months of Federal Reserve monetary policy money pumping at the rate of $85 billion per month ($4 Trillion)  so by Feb '13 all the politicians could toast their glasses in the air.

Today its at 16,600 or thereabouts, and we're all supposed to be happy and to keep holding and buying, then hold and buy followed by more buying and holding..
We're all supposed to forget 2 weeks ago today the Dow was at 17,545, or 1,000pts more than today.

Or that a mere four months ago the Dow closed at 18,312 meaning over the dead of a supposed quiet trading summer, the market has dropped 1,700 pts approximately.

So like a Dodgers baseball team that is in 1st place yet can't even muster 1 hit vs two different ball clubs in less than two weeks, what is the market:  fundamentally strong or is this a telltale sign of things to come this fall?

In a way the answer is neither..
The market will drop into late September/early October - its what stocks historically do..

And if it drops too much or too quick or people show real concern, those plunge protection teams will step in with the politicians and the squawk boxes and seek to calm the situation..

And barring a genuine necessary drop that the Fed in ill-equipt to prevent, it will yo-yo like this forever until the Dow is at 20k then 25k and climbing and we're all working Wal-Mart wage jobs as we celebrate the recovery by buying a cake & ice creme with our employee discount.

Friday, August 28, 2015

China's Multi-Million Treasuries Dump & Media's Silence

In yesterday's post about little brown monkeys sliding up and down slippery poles, we talked about something no one in the mainstream media ever discusses - Plunge Protection

That is a fancy way of saying the Fed has so many secret backstops and switches, it if wanted to, it could reverse gravity the same way it reverses falling markets.

Here's some more info about what's going on in the market that none of these evil bleeps (it's swear jar Friday at A&G) in media or investment circles will talk openly about for fear of scaring the public.
Behind the scenes is an event unfolding that has the market shaking in its boots. Yet you don't hear this discussed by the mainstream media, let alone investment bankers.

The dumping of US treasuries by China.

The US currently owes China just over $6 Trillion which includes $1.25 Trillion in US backed securities.  Japan is sovereign nation #2 with $4.4 Trillion owed by us..  (We owe the Fed more than we owe China which is why there never is the option to default)

China has the ability to wipe out the US dollar in one quick motion, by dumping their treasuries on the market..  That is pretty much commonly known
What is not common knowledge are the recent events that have unfolded behind the scenes in which China has begun this very process.

On August 11th, China unexpectedly devalued the Yuan. This came as a shock to the greedy piggies in the global markets as well as to China themselves which saw the currency rapidly plummet by 4% and would have continued to do so if not for the extreme intervention of the Chinese Plunge Protection Team.

You see China wants its devaluation to occur slowly and secretly over time so not to be noticed, not a quickie plunge which wakes everyone else up to devalue theirs to compete.

Now since that time, they have been actively and directly engaging in the Forex (foreign exchange) markets, where they have propped-up the Yuan and artificially maintained their fix with the US dollar.
How did they do this you may be curious?

By selling US treasuries.

I the past two weeks alone, China has sold over $106 billion worth of treasuries! This does not include the additional $107 billion worth of treasuries continually being sold since the beginning of the year..  ($106 + $107 equals.. $213 Billion)

So why haven't treasuries collapsed under this huge influx of supply on the market?

Ahh.. good question..
Its not being openly asked and no one is making any attempts to publicly answer..

Who is buying up this huge influx of supply?

You know how with every 1930's and 40's murder mystery 'Who done it?', the answer always ended up 'the butler did it' ?

Well.. just imagine the part of the butler in this financial manipulation play is as always was..  The Fed.
To prevent any dramatic drop in treasuries to make the public take notice, they have been monetizing their own treasuries, in an act that is akin to paying off a credit card with a credit card.

In simple terms, let's take that swear jar mentioned earlier in the posting..  Let's say the total amount of the jar is $50 and $20 of that comes from yours truly with $30 coming from others cussing.

I take $10 from the jar to buy lunch and rather than it now sit at $40, someone else fearing the response in the office, steps in and adds $10 on his/her own so the jar stays at $50 and no one is the wiser...

So as the situation in China continues to move into the realm of a full-blown crisis, you have to wonder how much more of their massive stockpile of treasuries are they willing to dump on the market..

And how long the Fed will technically give cover to it?
To end this week, we wanted to ask you a question which we do not expect or want you to openly answer..  just think about for a moment..

We like to think we're living well - nice home, pretty car, lovely kids..

Let us say as of today (the day you're reading this), the only forms of payment accepted in stores and online for all goods and services were Cash, Checks and Debit Cards drawn from whatever funds you have tied to that card's checking or savings acct..

No charge now/pay at next bill cycle credit cards accepted by anyone anywhere..
How many days do you think you could go before you tapped out and thus prevented from buying gasoline or milk or a fast-food hamburger?

Most Americans would run out of disposable cash within 2-5 days if everything purchased had to be in essence collected on the spot vs charge now, pay later...

If you don't like the figure you came up with, perhaps its time to think about how to go about having less 'stuff' and more liquid capital, then putting the plan into action.

Thursday, August 27, 2015

Stock Market like Little Brown Monkey Climbing Tree

Stock market go down..  Stock market go up..

Like little brown monkey climbing tree..

Up.. Up..  then Down..Down..Down...

Then little brown monkey go Up Up.. then go Down Down some more

At least little brown monkeys have valid reasons...
So the big question: yesterday why did it go up 600+ pts yesterday out of the blue when all the financial scum were in sell mode?

The media will say that China did this or the Fed said no rate hike, and the greedy swine were calmed into a believe this 'correction' was all over..

Of course no one talks about an apparatus that is secretly and quietly in place around the world called 'Plunge Protection Teams' (PPT)
The mindless herd MUST be turned away from selling by ANY means available, when propaganda on TV and print media doesn't calm the situation, then what follows is coordinated stock buying by the central banks.

It works like this (sorry if some of the information is a bit technical - just follow the gist):

1)  Since the majority of trading is now done by software programs (trading bots, algorithms, etc.), the first step is to create positive momentum so the bots will detect an "up day" and buy, buy, buy.

The easiest way to generate positive momentum is to buy a truck load of S&P 500 futures in a time of low volume, where the impact will be the greatest. usually this is pre-market open.

This is why you usually see a big opening spike the day after the Dow drops by a large number - a means to restore confidence
2)    If this fails, the next step is to send a central bank Talking Head out to discuss more quantitative easing which the Wall Street scum just love

Announcing the central banks' readiness to do more of what has goosed markets higher for six years will generally spark a buying frenzy, as those who have bet against central banks over the past six years have had their heads handed to them on a platter as well as experienced their share of ulcers.

3)  If this fails, grandiose but purposely vague claims of "doing whatever it takes" are issued. There is no need to actually have a plan, or to lay out a plan in public; the open-ended announcement is generally enough to reverse a trap-door decline.

People want to hear 'hope' and pledges that things will quickly improve even though its bullshit.
4)  If this fails, it's now serious.

The Plunge Protection Team (PPT) must start buying equities. This is usually done by private proxies via dark pools or offshore accounts or by state agencies--investment funds, retirement funds, etc.

And when things get very serious, the central bank can buy assets directly, and in such massive quantities that the markets are forced to respond appropriately.

5)  If this fails, the last resort is a coordinated buying campaign by all the central banks, acting in concert. This last stand has a rallying cry: Plunge Protection Teams of the World, Unite!

Of course the PPTs of the world monitor key technical support levels, but what the PPTs are Really monitoring is the dangerous sentiments of fear and panic because when the trap-door opens and the herd turns to selling, the entire six-year prop-job will crumble.
Geez.. Wonder why CNBC and Wall Street Journal never talk honestly and openly on this?

Here's a couple examples of how the financial media works in collusion with the Fed to calm and soothe jittery investors who are in panic sell mode..

The following headline appeared in the business section of the NY Times this past Saturday August 22, the day after the market suffered 3 consecutive multi-hundred point drops:

"Advice After Stock Market Drop: Take Some Deep Breaths, and Don’t Do a Thing"

At one point sarcastically or sincerely, the writer expresses, "So pour yourself a drink, or sit down with a pint of ice cream and consider the following..."
So as you're losing thousands.. tens of thousands.. maybe even millions of dollars, you're supposed to sit down with a pint of Haagen-Daas and just Breathe...  Whewwww..

A second article in Saturday's NY Times started with the intellectually insulting headline, "This Week’s Market Sell-Off May Not Be Such a Bad Thing" then refers to the massive drop as a mere correction while expressing "its about time" and "a much needed breather"

Ah yes.. there's nothing a mom & pop investor wants more as his/her investments are rising is to have a nice refreshing little 'breather' where it goes down by 20% in about 1 week
The G-D prick finishes by taunting the reader:

"In the meantime, the best response for most investors trying to grapple with the latest bout of volatility is to take a deep breath, appreciate the remarkable run-up of the last five years, and remember that if you panic at the thought of losing 6 percent of your money in a week, that money really shouldn’t be invested in the stock market to begin with."

Sorry to be so profane but NYTimes: Fuck you!
THIS is the constant barrage of lies and psychological babble the print and TV media collectively bombard people so not to panic, fear natural fear of the future or worse.. Sell their shares.

And we are sure there really are some gullible morons out there who did take some deep breaths, had a couple spoonfuls of Cookies n' Creme and now believe everything is OK based on yesterday and what the market is doing this moment..

Gawd, we are just so tired of the Idiots!  More so than the liars because at least we understand the 'Why' of it all...
This problem is not going away because China's problems are not disappearing any time soon..

China is a liar nation having created a giant lying debt bubble for years. Much if not most of its growth ‘miracle’ was nothing but a huge credit expansion, with an outsize role for the shadow banking system.

Much of this has remained under-reported in western media, probably because its reporters were afraid, for one reason or another, to shatter the global illusion that the western financial fiasco could be saved from utter mayhem by a country producing largely trinkets.

Remember all media has selfish agendas..

For instance, ours at A&G wake people the hell up to the economic reality of a nation they blindly trust as having their best interests in mind and a System that wants nothing more to control and stomp out your inner-individuality (For instance, covering your body with tattoos doesn't make you an 'individual'; it simply screams out you have inner-issues needing addressing)
As this post concludes, we keep thinking about a figure we reported the other day...  China's national debt when converted to US currency is presently over $27 Trillion

Now people look and go 'Wow' then move on but there's a scary proposition going on behind the scenes

There are people in places of economic/financial power in this country that think, yes US debt stands at $16T and that's bad However...

The concept being "We all know this will never get paid back And see China over there with its $27T in debt and no creditor is calling in their money..  So what's to prevent US from ultimately expanding our debt load to $27T as well?"
So the Fed is thinking somewhere in their deviant recesses, 'So if we have to spend another $11 Trillion in QE to ultimately keep the Dow progressing up to and past 20,000 and the everyday moron thinks its to their benefit, then really...  Why not??"

There's a lot of deeply evil, soulless sociopaths who make their living via the Stock Market

And even more deeply evil, sociopathic diabolical creatures from the black lagoon who run the show from behind the scenes.
We at A&G will keep hoping and wanting and willing for the market to crash and get down to around 9,500 levels which is the Accurate reflection as to the True state of the US economy..

And ultimately we expect to get our way on this.

Today the little brown monkey is back climbing up the tree...

We expect in due time that little brown monkey to take a bad fall.

Wednesday, August 26, 2015

The Next Political Correct Victim (in a long line): Curt Schilling

Today we're going to take a little brake from stock market silliness to talk about something even more genuinely irritating that we wish would just go the hell away by now..

Political correctness

The latest victim: Former MLB pitcher Curt Schilling who pitched for the Phillies, Diamondbacks and Red Sox and won a couple World Series in his career.  Currently he was covering the Little League World Series for ESPN before he was suspended.
Why was he suspended?

He tweeted a statistical comparison that a very small percentage of Muslims call themselves 'extremists' compared to a statistic back in the 1920's that very few Germans then considered themselves Nazi

Then later on it was found out he collects 'Nazi memorabilia'

And based on those two factoids, one can paint a pretty quick picture of a rotten, hate filled monster..

Except here at A&G we are not lazy quick-to-judge sons of bitches like the rest of the mainstream media and we're going to analyze the information to get a clearer picture
We'll start with the memorabilia..

Curt doesn't collect Nazi items because he is in love with Hitler or the party ideology.  He is a serious history buff especially when it comes to World War II and he is not alone in this.

How can we say for sure?  

Because being that we are located in Philly where Curt spent the bulk of his career, it was common knowledge he absolutely loved World War II history with zeal and this passion made him stand out in the clubhouse compared to his beer-swilling dum-dum teammates
Articles have been written that he loved playing WWII strategy and simulation games.  

Just go on Google and keyword the terms 'Schilling' and 'history buff' and you will see many references to his interest in WWII..

Here's just one of many examples courtesy of the Allentown Pa. Morning-Call:

"Curt Schilling, a World War II history buff, sounded a little like a Marine recruiter when he was asked his expectations for the 1998 Phillies..."

That was the first sentence of an article written during Spring Training, 1998, which was 17 years ago!  Source:  http://articles.mcall.com/1998-03-30/sports/3179772_1_general-manager-lee-thomas-phillies-curt-schilling
It was what drew yours truly to Schilling because I am an avid Civil War buff which is why I am constantly taking the time to defend the Confederate flag from revisionists and history-deniers.

The software company he tried to get off the ground after Schilling retired which didn't work out was supposed to create historical WWII military simulation gaming..

So its not like the man collects swastikas to relive the 'good ole days' as genuine haters do..

Also there is a big difference between someone collecting Nazi military flags, coat buttons, medals, etc vs collecting Concentration Camp remnants, memories of the atrocities or has a collection of Hitler photos on the wall.
When a person who genuinely loves history has a particular fascination and passion for a specific period and the financial means, the desire is to collect historical authentic artifacts and relics from that period; to make a personal museum if you will..

It does not automatically make someone ideologically simpatico.

If Curt ever said something pro-Nazi, then yes, he feels that way..  No one has ever stated he had..

If there's any pictures of him wearing the uniform, then yes you have to kinda wonder..  To this date, there's no photos of him wearing one or draping the Nazi flag around him like a Superman cape..
When it comes to both studying WWII and Civil War, there's always an 'out' or an individual or two that you can outwardly embrace that gives a sort of 'cover' from the PC monsters..

For the Civil War, its Generals Lee and Stonewall Jackson.

For the Nazi era, its General Erwin Rommel

Had Schilling tweeted something about Rommel's strategic acumen, nothing would have been said.  Sure he celebrated a Commander who served under Hitler but supposedly Rommel didn't like him, and this and that..

Instead, Schilling compared Nazis to Muslims..
Fair?   Not Fair?

We say 100% Fair and Accurate

The Nazis sought the extermination of the Jewish people.  The Muslims' ultimate goal is that end..

The Nazis were violent genocidal killers..  As for the Muslims, well ask yourself the questions the PC vermin don't want you to ask:

What religious faith was every single person who was directly or indirectly responsible for 9/11?

How many were Catholics? (Zero)  How many were Hindu?  (Zero)  How many were Muslim?  (ALL)
What is the religious faith of ISIS?  Are they beheading innocent people and spilling blood in the name of Christ?   Or Allah?

In Iran, they scream 'Death to America' and 'Death to Israel'..  What faith are those people?   Lutheran?  Episcopalian?  Greek Orthodox?..   Try Islam

Which religion's holy book has passage after passage about killing Jews and Christians as a way of appeasing their God and serving their faith?

In the beginning of Nazism, many joined just to get jobs and didn't believe the deeper hate ideologies but stood back anyways..    Supposedly most Muslims aren't Extremists yet stand back out of fear and in some cases empathy
So really.. What did Curt Schilling do that was so wrong?

Oh yes.. He tweeted something that had the potential to disrupt the commerce stream of the corporation conglomerate he works for..

Because ESPN with its 12 different sub-networks is part of a larger umbrella which includes ABC and Disney, etc..

So god-forbid as a result of the tweet and ESPN doing nothing, those offended may boycott watching or threaten the sponsors...

And what is Schilling (or any other on-air personality) to ESPN?

As disposable as a piece of tissue
Of course if these corporations were sincere about their desire to combat 'intolerance' they'd have a program where Muslims and people like Schilling could express openly why they feel as they do and let people learn..

But political correctness is not about tolerance and inclusion.. Never has been

It is about no one offending anyone and disrupting the ability of merchants and public institutions like school to conduct its business without costly distraction or disruption.

Muslims have credit cards so you can't offend them..

Plus if you do, they will bomb the place you work or cut your throat open like they did with journalist Daniel Pearl and or riddle you with bullets
If you want to burn the Bible, the government will not only not try to stop you but not even know you did so..  

State that you intend to burn the Koran and idiots like the President and old wretched Hillary are publicly begging you not to..

Why?  We all know why..

You don't go out of your way to incite the mentally unhinged.

So Curt Schilling may end up getting fired for a tweet that was factually accurate and expressing a love of a historical event ((WWII) in a way that some others can not understand or comprehend.
Remember (its vital you understand this), Political Correctness seeks and demands a collectivist mindset; everyone thinking the same and looking at the world from the same perspective and direction

It makes no lee-way for individual thought or expression and no time for nuance or analysis

The PC mindset is anal retentive:  X is 'wrong'; Y is 'acceptable'; and if Y hurts someone's feelings then Y instantly becomes 'wrong' as well...

You obey; you DO or expect to be everything from socially shunned to financially ruined

And we as a society still put up with this!

Tuesday, August 25, 2015

Update 4:50pm Tues: The End of Another Good Market Day...

From Reuters:   "A strong rally on Wall Street evaporated and turned into losses on Tuesday, as concerns about China's economy heavily outweighed lower valuations that some investors earlier saw as bargains."

Even the disgusting greedy sloth pigs and rats on the NYSE trading floor couldn't alter reality which is the economy is terrible, its been this way for a long time and no amount of Fed QE liquidity pumping in the past could indefinitely wallpaper over the truth of things

The Dow dropped another 204pts to close at 15,666..

Still another 6,500 pts needed before the stock market Accurately & Honestly reflects the True state of the US economy and the 1% scum lose all the wqealth they gained over the last 7yrs

Will tomorrow be the day the market spikes with more "bargains" abound?

Or will it continue to drop?

Ehh..  

Just wake us up when the G-D US financial media begins to cover this market crash with sincerity like the UK press seems to...

Hoping Tuesday is another Market Downpour

The stock market is SO manipulated and outright rigged, its both sickening and insulting to the intelligence when anyone dares infer otherwise..

If it is not, then answer us this:

Why is it when the Dow spikes up a couple thousand points in a matter of minutes or hours nothing happens but cheers Yet if the Dow were to drop that same amount in a short period of time, the NYSE suspends trading?!!

So the Dow can keep spiking higher and higher into the imaginary stratosphere and no one does a thing to adjust back to a semblance of reality Yet if goes down 7% or more in valuation in less than a few hours trading is halted for minutes or hours..
And why is this done?

So the verminous sloth pigs can calm, take a breath and shake off their panic selling so to resume greedy buying

So the big drop the last few business days have been because of China..

Everyone's acting so surprised that a secretive pro-censorship Communist nation never told the truth about how weak their economy was..

By the way, did you know China, our largest lender nation (we actually owe more $$ to the Fed) has a debt problem too??
Guess how much the Chinese owes their creditors?

The debt in Chinese currency translates to $27 Trillion US dollars

That is $27,000,000,000,000

No wonder they're so furious in efforts to weaken their money.
So ask yourself.. If China owes $27T, and the US owes $16T and pretty much every Western nation from Britain to Germany to Japan owes someone and all the third world emerging markets are completely beholden  to the 1st tier nations to help their economies grow..

Well why is anyone surprised when the stock market crashes??

Everyone owes banks and professional "I" Investors and they seem generation after generation to always run the show..
The other day China tried to calm the panic with a $300B market injection..  Didn't work well did it?

$300B just doesn't buy what it used to..   To give perspective, it cost the US $345B in total to fight WWII..

So what will happen next?

Will the market rally Tuesday for some gigantic +1000 rally based on heavy behind the scenes injection and deeply greedy investors looking for deals?

Or will the free fall continue?
We thought the following piece of information was pretty interesting care of the newspaper, The Independent UK:

"A former adviser to (former Prime Minister) Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide.

Damian McBride appeared to suggest that the stock market dip could lead to civil disorder or other situations where it would be unreasonable for someone to leave the house.

“Advice on the looming crash, No.1: get hard cash in a safe place now; don't assume banks & cashpoints will be open, or bank cards will work,” he tweeted.

“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.

“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to.”"
Can you imagine any US media outlet having the guts or integrity to present information like That to its public?!

Nope.. More like 'Keep Calm and Don't Sell'

Or this bit of honesty care of Guardian UK:

"Financial markets have gone cold turkey. For the past seven years, they have been given regular doses of strong and dangerous narcotics. The threat that the drugs will no longer be available has resulted in severe withdrawal symptoms.

Unlike in 2007, this crash could be seen coming.
Financial markets in the west have been booming for the past six years at a time when the real economy has been struggling. Recovery from the last recession has been patchy and weak by historical standards, but that has not prevented a bull market in equities.

The reason for this is simple: the markets have been pumped full of stimulants in the form of quantitative easing, the money creation programmes adopted by central banks as a response to the last crisis...

There were always doubts about what might happen when central banks decided it was time to remove some of the stimulus they have been providing for the past seven years. Now we know. 

Financial markets merely needed a trigger for a big selloff. China has provided that"
In other words its all an excuse for banks, corporations and Big Boy investors to cash out their massive post QE stock portfolios while inciting another panic in hopes it triggers a new wave of QE and thus the cycle continues..

Remember the world survived the global markets dropping precipitously between Sept '08 and March '09 and it will easily survive whatever pullback the market is experiencing now.

But also remember, this is how governments exert and maintain power over its populaces..

It creates the fear and instability then steps in to calm
And as people lose their rights, liberties and personal wealth at the hands of the power brokers, they find themselves thanking the System for it.

Tomorrow we hope the market drops another 1000 points..

A lot of genuinely greedy-bad one-percenters are losing a lot of money from this

That's why you should be hoping for a further drop too..