Down And Dirty -- I'm All In -- June 30, 2022

If one reads Peter Zeihan, c. 2022, and at the same time one is following world events, it's time to panic.

I haven't watched CNBC in months. Tonight while looking for "streaming" sports, I spent 120 seconds or thereabouts on Jim Cramer.

I don't recall ever seeing Jim Cramer so pessimistic. What a doofus.

Worse, his interview with the VP of IBM. Talk about a depressing interview. IBM is begging for government help to jump-start the semiconductor industry. Say what? IBM begging for government help? LOL. You won't see TSM, AAPL, or NVDA doing that. In this environment, IBM needs help from the government? Oh, give me a break.

Cramer said he took his huge profit in CVX and sold "some" from his charitable trust. 

With two consecutive quarters of negative growth, most folks would say we are in a recession.

A lot of folks disagree.

I could(n't) care less. 

What would you prefer, a recession that lasts six months, or Turkish inflation of 20% that lasts three years?

No hurry. Take your time.

 Biden says high gasoline prices are not transitory. 

Cramer is afraid to go all in on oil. Why? Windfall profits tax.

 Yes, it may happen, but two things.

First, only Congress can legislate windfall profits tax. Not gonna happen.

Second, every Biden initiative vis a vis the price of oil is a misstep. Or deliberate.

A windfall profits tax: bullish for oil. Counterintutive. 

Oil companies, to minimize the impact of a windfall profits tax, will simply cut back on production.

But I digress. Good, bad, or indifferent, I remain fully invested. 

No market timing for me. 

Bottom line: I'm betting the farm. As they say. 

I'm fully invested. And staying fully invested. 

But ATT (T) paying almost 6%! Are you kidding me?

AAPL at $134 or thereabouts. Are you kidding me?