May 13, 2016

Hotel Mass Euphoria

Hotel California - cover art

With thanks to The Eagles  (YouTube)

In a booth at Chipotle, heard "just fools can be bears"
Smell of poison carnitas rising up through the air
Filled with dread, sudden sickness, a migraine’s shimmering lights
I put my head down near my side of chips, and fell asleep for the night

Yellen stood in my dreamscape, I heard the opening bell
And I was thinking to myself "this can’t be Heaven, so this must be Hell"
Then she grew a green candle and she showed me the way
There were voices on a trading floor, I thought I heard them say...

"Welcome to the Hotel Mass Euphoria
Such a lovely place, such a bullish case
Plenty of folks at the Hotel Mass Euphoria
Any time of year, you can find them here"

They’re buying Tiffany, Twitter – they got some big, crazy bets
They bought some shitty momo toys, and ‘style’ fund blends
How they crushed all the short funds (“Sweet -- watch ‘em sweat!”)
Some danced with Fed members, some chanced more long bets

So I called to their Captain, "Please make it decline!"  
He said, "We haven't had a selloff here since mid-2009"
Then it seemed voices were calling from far away
(Chipotle staff, changing shifts for the night, comin' to take my tray …)

Welcome to the Hotel Mass Euphoria
Such a lovely place (just the bullish case)
They’re bidding it up at the Hotel Mass Euphoria
What a nice surprise -- all your AAPL buys

Then stocks hit a ceiling, oil shorts move in on ICE
And they said "We are all just prisoners here of our greed and vice"
And in Carl Icahn’s chambers and Chanos’ fund back east
They short it with their friends and wives, but they just can't kill the beast

Last thing I remember, I was running for the door
I had to sell my SPY shares back at the price I bought before
"Step back," said the doorman, “this is Keynesian Hell
You can buy stocks any time you like, but you can never sell!"

{Beelzebub and James Bullard, both playing V-bottom guitars, trade solos in an endless Bull run that, each time it appears to be fading, surges back in a flurry of notes, going on and on ...}