Double Whammy

Posted on Jun 14 2016 - 10:56am by Dan

The markets of the last few years (I view everything after 2009 as one ‘cycle’ of the market) always need some sort of political event to obsess over.

We had the meetings on Quantitative Easing in 2009.  Remember when everyone was crying about hyperinflation back then?  To May 6, 2010 as HFT trading firms who were playing as if they were market makers suddenly and conveniently walked away en-tandum.  Something true market makers are not allowed to do by the way. Remember when “Iceland” was a thing?  The Greece Crisis.  The PIIGS fiasco.  The Euro crisis of 2012.  The ongoing China hemorrage?  The ‘Fiscal Cliff’ of 2012?  The Greek Elections?   Grexit?   Ebola?  Remember Ebola?

It’s always something.  Some new political event or crisis that we are all supposed to stop, wait, and twiddle our thumbs until the collective short-term amnesia wipes it from the headlines.

At the moment, we’re awaiting for the Fed’s decision on rates that will drag on into tomorrow.

But never fear, once the rate decision is known everyone can wait for the the second whammy of the month, as everyone can obsess over the “Brexit” referendum on June 23, 2016.

I prefer quiet markets, so I find all of the repeated obsession over events droning on for years on end rather … droll.  To say the least.

3 Comments so far. Feel free to join this conversation.

  1. mappy m June 14, 2016 at 12:23 pm - Reply

    The business news networks need to keep people watching. All about viewership and ads.

    • Dan June 14, 2016 at 6:10 pm - Reply

      Agreed.

      But it was just NOT like this back in 1997, 1998, 1999. Or from 2002 to 2007. I don’t think it was necessarily that the bull markets were the reason either. This has been going on for 8 years now, during this latest bull run in stocks. I mean, there were fundamental problems back in the earlier cycles. But now, it just seems like everything is to be considered SO OVER THE TOP catastrophic in a way that didn’t occur before

      D

      • mappy June 15, 2016 at 10:29 am - Reply

        That’s why I just shut the TV off for a good 3 years. Nothing but nonsense.

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