My Friday started today due to me being a bit under the weather and taking part of today and all tomorrow away from work. In the end, who knows--better safe than sorry for my colleagues. While sitting home I stumbled upon this headline, just get this:
After that, this "analytical" piece goes into all kinds of Wall Street BS about shares and indices and "volatility" crap which exposes exactly what a complete pile of steaming shit this whole "economics" pseudo-science is. The reason being that the question isn't even stated correctly because people who state this question in this way are either morons (which is highly likely) or "free market" fanatics (which is also likely), or people who have neither stake nor faith in what's left of American Republic. Putting it even in simpler terms: the nation which, despite Boeing's many well-known problems, doesn't want to preserve its industrial and scientific crown jewel, shares' prices and "capitalization" notwithstanding, and continues to judge it only in financial terms--such a nation doesn't have much to live for. That is how the issue of Boeing should be framed. In this case, such ANALysis like this:
If Boeing can get going back over $180, it puts $200 and $220 on the table. However, if it can’t find buyers and the stock takes out the recent low near $155, the $135 to $140 breakout zone may be the next downside target.
Should be discarded as yet another fluffy mambo-jumbo and psychobabble and one has to consider a possibility of the state taking over this American icon to preserve it. Recall what I wrote 4 years ago:
In other words, Boeing is a combination of a massive national symbolism and of a damn serious scientific and manufacturing substance. Boeing long ago transcended traditional meaning of private company since it is, unlike fraudulent US investment banking system, is too big and way too important to fail. That is why Boeing exists within, however not-advertised, system of US government contracts and support. Is Boeing perfect? No, not even close, but if Bank Of America fails tomorrow, yes, there will be serious consequences, some economic disruptions, some CEOs may go to jail and some Wall Street a-holes may get heart attacks or may even commit suicide. But within fairly short time this failure will be addressed and the life will go on. Now, imagine if Boeing fails. Depending on what this failure may be, but Boeing's "failure", which may stop such a company in its tracks implies immediately that if Boeing fails, the US also does. It means only that something in the United States went so wrong that it changed its economic and social fabric and relegated the US to the ranks of not so great powers. Boeing is one of the pillars of the United States' superpowerdom. Merrill Lynch and its owner BOA are not.
As you may have guessed it already "something did go wrong", or, rather, continued to go wrong and this "wrong" is the fact that the United States is run by bookkeepers and MBAs who do not know shit from shinola. That is why they are ready to discuss scenarios of Boeing being "done" based on "valuation" when in reality, Boeing transcends some BS monetary theory and is one of those very few things which is left as real American pride which will be back. Unless, of course, well read my whole post from 2016. As for Dow "plunging 10%" and Fed pouring $1.5 trillion of worthless paper into the pockets of very same people and structures which bankrupted the United States, what can I say--I am writing about incompetence (and corruption) of the American elites across the board for many years. You all, of course, recall Einstein's definition of insanity--observe it in real time. But since it is MY Friday on Thursday, let's recall the times when music was simply incredible and people had a better grasp on things.