Over the Fiscal Cliff we Go
The winner these past few days has been the iPath S&P 500 VIX Short Term Futures (VXX), other than that its been a difficult week for equities. Is the worst yet to come?
As we pointed out today in Volatility: It's what's for dinner the VXX has jumped 18% in the past 5 days. We told you to buy into the VXX back last Friday, for those that did congratulations. Now we have to worry about credit agencies downgrading the U.S., and if that happens it will be an instant -10% across the Dow Jones, Nasdaq, and S&P 500. We are entering uncharted territory and its terrible for equities.
GOP members you are going to have to raise taxes. Democrats please be sensible and agree to whatever the GOP is willing to do. Both parties stop embarrassing Americans that voted for you and reconcile your differences before the shit hits the fan.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Frontrunning: May 29 | ZeroHedge
- "Welcome To The Contraction": Q1 GDP Drops By 0.7%, Corporate Profits Crash | ZeroHedge
- The Clinton Foundation Paid Sidney Blumenthal $10K/Month As He Gave Horrible Libya Advice To State Dept | ZeroHedge
- Low Wages & Unemployment Are An Existential Crisis For Millions | ZeroHedge
- "Ms. Wantanabe" Bets On Resurgent Yen As PE Cashes Out | ZeroHedge
- These 19 Passports Will Be A Lot More Valuable On July 1st | ZeroHedge
- Do Not Show This Chart To Bank Of Japan Governor Kuroda | ZeroHedge
The most relevant financial news and articles from the Internets
- Bride and prejudice: rare ethnic marriages reflect... | Business Insider
- THE E-COMMERCE DEMOGRAPHICS REPORT: Men are actually more likely to... | Business Insider
- Here are the most common words in tech, finance, and energy job listings | Business Insider
- Notable Mergers and... | StreetInsider.com
- These are the secret rules for getting your app to the top of Apple’s App Store (AAPL... | Business Insider
- FIFA votes amid corruption crisis : LIVE REPORT | Business Insider
- Palantir, the War on Terror's Secret Weapon | BusinessWeek