Anybody Buying Yet? Where’s the Bottom?

Bonasababy said:
After his remarks, the dollar hit a 4 year low.

Dontcha wonder if people in his administration don't sometimes say "why can't you just shut the #$@ up?"
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All the time. But the press just keeps sticking a microphone in his face and he loves the attention, so reality TV will continue. The Don is just a mouthpiece. He certainly isn't the "brains" behind anything.
 
Bonasababy said:
Looks like we got a good indication of what the market thinks of Warsh on Friday.
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S&P futures were down over -1.5% on Sunday night and now up almost a 1%. Buy the dip remains in place, but it certainly wasn't retail buyers. There are not enough market degenerates up at 1am EST to change the trend that much. It's like the market doesn't think about Kevin Warsh at all. The good part is you can have a reaction, while the 2006 reaction was "who the flip is Kevin Warsh?". Also good, pundits can create whatever scenario they want for whatever asset they favor. I'm enjoying all the praise people are giving him. It is almost comical.

The only real takeaway out of the Kevin Warsh pick is that nepotism is the best career plan.
 
Can someone explain wtf I missed. Did Jerome Powell get fired?

I expected a huge uproar if that happened but if it did I missed it and now it’s this new guy name the way Oregonians pronounce Wash.
 
MTGomer said:
Can someone explain wtf I missed. Did Jerome Powell get fired?

I expected a huge uproar if that happened but if it did I missed it and now it’s this new guy name the way Oregonians pronounce Wash.
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His term is expiring, and Trump hasn't liked the actions from the Fed over the past year. Also behind closed doors has probably said the dumbest hire in the history of Fed Chain nominations. 🤣🤣🤣
 
MTGomer said:
Can someone explain wtf I missed. Did Jerome Powell get fired?
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No. His term as Head of Fed ends in May. Warsh was named to give the markets a heads up. Stephen Miran temporary appointment ended yesterday, but I guess he stays on until Warsh gets approved as nominations are being held up by some republicans that found their spine after announcing they were not running again. Anyway, then Warsh would get Miran's position and get elevated to Head in May. Then Trump would need to name two to replace Miran and Powell (if he chooses to leave the Fed entirely, which he probably will) positions in May.
 
SAJ-99 said:
No. His term as Head of Fed ends in May. Warsh was named to give the markets a heads up. Stephen Miran temporary appointment ended yesterday, but I guess he stays on until Warsh gets approved as nominations are being held up by some republicans that found their spine after announcing they were not running again. Anyway, then Warsh would get Miran's position and get elevated to Head in May. Then Trump would need to name two to replace Miran and Powell (if he chooses to leave the Fed entirely, which he probably will) positions in May.
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I’d run away if I were Powell but he could definitely F with Trump by finishing his term.

WSJ backed Warsh for what it’s worth.
 
brymoore said:
I’d run away if I were Powell but he could definitely F with Trump by finishing his term.

WSJ backed Warsh for what it’s worth.
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The WSJ is very Hoover-Insititutish, so it tracks. A good number of the Op-eds come from Hoover people. I note that the WSJ also supported the appointment of Powell in 2017 as a pragmatic choice that had more real-world business experience and less reliant on economic model-driven theories. This is why I laugh at the appointment of both Miran and Walsh. These guys are literally the definition of idealistic, model-driven economists. I wish him the best of luck. Being the punching bag of everyone and not being able to respond doesn't seem to fit his personality.
 
Bonasababy said:
When?

Warsh was named in the Epstein file release.

www.mpamag.com

Trump’s Fed pick appears in Epstein files

Kevin Warsh’s nomination collides with a fresh release of Jeffrey Epstein records
www.mpamag.com www.mpamag.com
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Meh. Can't blame a guy for going to party for the rich in St Barts. It's part of the job description for Nepos. He certainly wasn't picked for his ability to relate to the plight of the common man.
 
SAJ-99 said:
It is a really bad sign when you have to pull up a 10yr chart to find a level of support. My rule is give it 24-48 hrs on reactions like this. It is still cheap, but maybe for a reason?
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My flippant thought is why bring in someone HP (or Oracle or Cisco), these are companies where careers go to die, especially HP as it's not dynamic at all and just a race to the bottom for manufacturing costs.

Fintech is dynamic with a shit ton of innovation and disrutption. How do they manage those dynamics, organic innovation or acquistion? What about their application for PayPal Bank? Layer on the economic headwinds they highlighted in the earnings call. I'll give it a week, then go all in LOL
 
Haven’t Zelle and Venmo pretty much replaced any need for PayPal? It seems like a dinosaur. I can’t remember the last time I used PayPal. I’ve written paper checks more recently than I’ve used it.
 
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