Unbelievably shitty day. The US stock market is in a forced rally. How does apple trade 12 million shares and average is 34 million? All I can say is that asia and the brics are driving everything while the US gets supported because no one knows what stupid deal private equity is going to next.

More China talk is starting to pop up around blogs. There is no doubt that there is going to be an economic crash in china. I dont know how representative the stock market is of the whole economy, but China isnt going to grow at 10 percent forever and is on a collusion course. Its distinctly possible that it happens sometime in the next few weeks. What will be the ramfications? I dont know.

Why is the sp mini absolutely dead. 575,00o contracts! nuts. There is zero volume behind any of these moves. I was surprised the bonds didnt rally today. Higher yields are coming and in a world of silly leverage and yield chasing 5 bps is a big deal. It wont take much to blow out spreads.

BOJ is meeting. My least favorite CB. The yen carry trade and swissy trade keep coming back. The fed shouldnt have to bare all the tightening responsbility. And in case Asia doesnt get it, all they are doing at this point is stimulationg more consumer price inflation. Housing is done. Good luck selling Toyotas to Americans who cant extract any more equity from there homes and are straddled with inflation in gas, food, healthcare. We have a global inflation problem that no one wants to deal with.