FOR FRIDAY: (9/30) Deutsche Bank continues on the tilt-a-whirl, suggesting a Lehman moment, and of course they’re spouting rhetoric of how all is OK in the same kind of denial that Lehman spouted days before they collapsed. Some investors are starting a minor run but ultimately the government will come in and save DB. Starting to think climax by Oct. 9 so it continues to seem safer to be short overnight for a world and market on edge. Still, we won’t discount the power of the oligarchs to keep their world going and richer so those expecting the end of the world with DB or a Trump win will be disappointed. One of my favorite movies by Luis Bunel, The Discreet Charm of the Bourgeoisie, is a reminder of that: whatever the ups and downs and craziness of this group, they continue to grow and prosper and rule.
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