Time to double down

Ted Cruz got it right with his Beavis and Butthead remark. Time to double down on comedy. We first suggested that the daily Media Spokesman wear a mask and speak like the cartoon character he looked like. But now he needs a partner to impersonate and mock the haughty-saintly D’s at the hearings on TV. “Impeachment is too good for the man. I saw him waving his arms like wings and quacking like a duck in the Oval Office! Lock him up now” – and so forth.

Gotta be better than taking this nonsense seriously.

One Response to “Time to double down”

  1. feeblemind Says:

    Meanwhile . . .

    Fed Will Flood Market With Gargantuan $500 Billion In Liquidity To Avoid Year-End Repo Crisis

    From the article:

    One word: “Massive”. A few more words: The largest series of RP operations ever! The Fed announced it’s RP operations schedule for the next few weeks and it’s huge!

    Here are my calculations:

    There are two existing $25 billion term operations over the Turn already in the market totaling $50 billion

    The Fed committed to at least a $150 billion overnight operation on year-end

    A REG-start year-end operation on the day before year-end of $75 billion

    Between now and year-end a total of 6 term RP operations totaling $225 billion

    All total, I count the Fed committed to pump $500 billion in the Repo market over year-end. Naturally, the Turn (12/31-1/2) rallied a bit today. Trading from 4.25% yesterday to 3.80% today

    There’s more: add in the incremental liquidity from the expanded overnight repo of about $50 billion and another $60 billion in T-Bill purchases, and the Fed will inject a total of just shy of $500 billion in the next 30 days!


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