Friday, November 21, 2008

Suckers, come on out

Right on schedule another sucker rally today. I've lost count, but since Sept 2007 I would say we've had about 30 days like this. Days after a massive loss the previous day where a company sells itself and everyone goes apeshit on the buy side. Only to realize 2 days later that things are still as shitty as they were before. Rinse repeat every 2 weeks.

Today's seller is Citi. And the buyer is Saudi Arabia. Awesome. Simply awesome. Let's have even more Arabs control the financial industry. After all nothing like having your enemies control your banking system. Imagine if in the 1930s the country's biggest bank had been sold to Japan or Germany. It's fucking lunacy. Hey I know, why not sell GM and Ford to Al Qaeda. They have the money, they need a place to invest and we need a buyer. Perfect right?

I predict next week Omaha will release real estate figures showing sales of 2 bedroom condos on streets ending in a vowel rose 8% last year. This will be seen as a bottom and stocks will be up 5%.


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