DHUnplugged #629: Asexual Finance

What is happening in the "de-fi" world. Looks more like a scene from Caligula than a trading exchange.

We are allowing children to play with matches - who is really the stupid one?

Everyone is "F" ing everyone.

Bombs flying - rumors and reality.

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Warm Up

- Hey - What happened to the Red Wave?

---- Everything is gamed...

- Crypto meltdown - just one week and then...

- We are not talking about Musk or Twitter - Sick of the topics

- New Tax In Mass

- Greed - The Favorite Sport of Americans (and the world)

Market Update

- HUGE YUGE Rally - One Two Punch - Inflatio0n and gridlock hopes

---- More Rally on light PPI and Manufacturing prices

- - Short Squeeze too - offsided flip-flop

- Yields drop, USD drops - Market FLY

- China supposedly easing up on COVID restrictions again and ..... helping real estate market

- Biden's College Loan Forgiveness Program shot down

- DXY down 3.5% last 5 days. 10-Year under 4%

You know what is going on?

- Asexual Finance

- - Everyone is just creating things out of nothing - screwing each other and themselves

- - One big "F" Job that yields nothing

- - Lesson learned with FTX - don't kids matches unless you want them to start a fire.

---- OH and massive amount of losses

--- It is the NON-Boomers that are screwing this all up

BOMBS - Wartime News

- Seems that market freaked out at 2PM Tuesday

- Reports that 2 missiles veered off course and hit town in Poland

- Then there was reports that Ukraine shot down and pieces hit areas in Poland

- Then reports that all unconfirmed - markets rally back

Massachusetts Tax

- The new law creates a 4% tax on annual income above $1 million, on top of the state's current 5% flat income tax, aiming to fund public education, roads, bridges and public transportation.

- How many will be leaving?

- Where will they be going to?

Gridlock?

- What happened to the Red Wave?

- House will ensure more gridlock than we have now - even though Dems have majority in Senate

- What does the Biden scramble look like now through inauguration of new leaders?

FTX meltdown

- Whatever we know - I don't think we know anything

- Days to take down 2nd largest Crypto exchange (without any conspiracy additives)

- Bitcoin/Ether down 20% last week - crypto markets in disarray

- It is NOT the coin - it is the little greedy bitches that have been allowed to play in this environment with no regulation

- All of a sudden there is odd money movements/withdrawals. What about the transparency????

- Now potentially $$ missing ($1billion)

- Mysterious outflows and:

--- High-net-worth users are paying astronomical prices for NFTs on FTX at a time when the broader crypto and digital collectible market has nosedived. In one case, a collectible that traded near $9 three weeks ago sold for $10 million on Friday. Another NFT that was similarly priced a month ago, sold for $888,888.88 this week. (Somehow a way to move $$$ from FTX?)

Retailers Reporting this week

- Tuesday: Home Depot and Walmart (before the bell)

- Wednesday: Lowe's and Target (before the bell)

- Thursday: Macy's and Kohl's (before the bell); Gap (after the bell)

Oil - OPEC Cuts Growth Forecast

- Trims demand growth in 2022, 2023 by 100,000 bpd

- Says global supply was in surplus in second, third quarters

- OPEC Oct. output fell by 210,000 bpd, exceeding pledged cut

- Saudi Arabia reports smaller drop in its October output

- Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report, down 100,000 bpd from the previous forecast.