I hear in financial and other markets there are a lot of big pricks pretty much anywhere you look. And we need a big one to prick this humongous bubble we have formed. Deutsche Bank, for example, is the biggest prick in Europe. I thought the bad news, as in a $7+ Billion quarterly loss, this past week for Deutsche Bank might do it, especially with its $75 Trillion (that's with a T) or so of derivative exposure.
http://www.zerohedge.com/news/2015-10-07/first-crack-deutsche-bank-preannounces-massive-loss-may-cut-dividend
But alas, after an initial selloff of the stock, bad news once again is good news and it was today trading HIGHER than it was before the announcement. Yes, higher!
VW is certainly considered a big prick by many, including its customers and environmentalists. And it is not at all likely to exhibit the old "bad news is good news" syndrome because its bad news can definitely get a lot worse before it is all over with. Yet, its stock bounced back at least some and was up over 20% from its post-scandal lows this week. So another big prick rises again.
No, these big pricks apparently are not big enough. We need a really big one because we have a really big bubble this time. Now the thing is the Fed and other central banks are running around putting protection on all these big pricks when they arise to prevent them from pricking the bubble. China did it, Europe did it and the U.S has and will do it.
But eventually we will have one really big bubble in a room for of big pricks and poor Janet with not enough protection in her pocket to go around. And me thinks that time is coming . . .
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