About this app
About Leprechauns Magic
Nobody is predicting the end of gambling. The market is still growing. Good operators are still making money. New products are emerging.
But what has changed is what shareholders want those companies to prove – and the price they are willing to pay for that proof.
Fantini points to land-based examples like Red Rock Resorts and Monarch Casino as companies that can still attract capital because they offer sensible growth and strong management. That is a telling comparison with the industry’s recent past.
What is Leprechauns Magic?
This process of dumping nearly $1 trillion into the U.S. banking system has already begun. How is it going to work? There is currently a $1.5 trillion short term bill hamster wheel that the U.S. Treasury has been running on like a crazed mouse since April. They issue about $1.5 trillion in short term paper every month and pay it back with about the same in new short term issuance. They have about $1.6 trillion stuck in their bank account at the Federal Reserve, and that money is now coming out to pay down that hamster wheel. The issuance of new short term paper is slowing down. All this new money is going to stuff banks so full of short term cash that they will be forced to slam it into the existing supply of short term paper to such an extent that the rates are going to go negative, nominally. Nobody knows how deeply, but it’s definitely coming, probably in the next few days.
Below is the graph of 1-month rates from CNBC. They are about to cross the zero boundary.
When that happens, commodities prices are going to get completely unhinged. The cash on corporate balance sheets is going to start losing purchasing power very fast. And that will only encourage more dumping of it, and increase the positive feedback loop now already in place.
How to play Leprechauns Magic
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