The Old Man’s Views
Thanksgiving Thoughts from the Old Man
Unusually for me, I am a bit short of inspiration this week.
I think it might be because of the launch of CNN Portugal last night. That happened exactly one year after they stopped the transmission of Fox News in Portugal.
Then again, it might be because the people telling me to buy BTC a couple of weeks ago because “we will see 100,000 before Christmas”, are now telling me there is a double top in place.
Oh, well. Let's have a quick look elsewhere and have a bit of a ramble.
I am looking for a better sign of weakness in the stock market. But I see nothing worth mentioning.
Seasonal plays might bolster some interest from the stock guys trying to protect their end of year bonuses. However, I am sticking to my view that we might see a 30+% drop in equity values over the next year, which might begin in the first quarter of 2022.
On a different topic
With the cost of Hunter Biden’s pictures continuing to rise, is there an NFT for Biden produce? There must be one somewhere.
Oh, and let us not forget the big news in the financial world this week.
John Kerry, the Carbon Tzar, who goes everywhere in his private jet, has been given a million-dollar share in a Chinese Fund by the Chinese government.
There is nothing to see here.
We are going to see higher oil prices for some time and therefore continued inflation.
Joe Biden’s selling-off of the Strategic Oil reserve will do little to halt further gains.
Let me be clear. All Biden is doing is giving a band-aid to someone who he shot. Nothing he has done has worked. Nothing!
So far, things continue to bode well for cryptocurrencies. But not so great for the burdensome infrastructure projects our governments keep approving.
When it comes to infrastructure projects, I wonder how governments estimated the cost of raw materials?
Metals are strong, and some big banks and institutions are long physical, with little ahead suggesting they should be selling. So who will?
Oil prices are steady and expected to hold.
And God only knows how they expect to keep cement prices low when cement producers are penalized with higher carbon emission fees.
And if all these potential problems are not enough to worry about, we can always argue about the latest increase of Covid-19 cases and how we are all looking at lock-downs and wearing masks over Christmas.
But let me finish on a more positive note and wish our American cousins, Happy Thanksgiving! Especially those living in Santa Cruz who have to wear masks indoors whilst nibbling on their Turkey.
Let's Go, Brandon!
Until next time
Good Luck and Good trading.