It is simultaneously amusing and annoying to see the constant “BREAKING” news from the crypto creeps, trying to come up with something – anything! – to re-ignite their dying crypto market. Whatever news is being offered is always “giga bullish” when, in fact, it is anything but.
I used to look up to Zerohedge like a big brother. They were super-bearish, super-cynical, and totally cool. I used to write for them, garnering tens of thousands of views on each post (far more than I ever get here on Slope).
Over time, however, ZH really changed, and I’ve soured on them. I guess they feel the same about me.
I was curious what my final comments were that set them off. They weren’t that extreme, but they definitely convey my feelings about where they were heading.
There is currently much hype in the media about a hawkish Fed because the media wrongheadedly anticipates rate hikes due to the “inflation” being caused by rising oil prices (directly and indirectly). Furthermore, CME traders, often little more than a wind sock indicating current sentiment as opposed to accurate forward forecasters, have completely backed off their previous view of rate cuts, and now increasingly favor a rate hike this year.
Perfect!
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