Albert Edwards Goes All Out: Sees New Recession By End Of Year, Market Collapsing "Like Pack Of Cards"

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Thu, 06/24/2010 - 11:25 | 431467 doomandbloom
doomandbloom's picture

is this why the rats are leaving Obama's sinking ship?

Thu, 06/24/2010 - 13:25 | 431725 Oso
Oso's picture

wow, u got flagged twice!  are there really people out there that actually believe Obama has even the slightest clue...?? wow.... all of you deserve a round of applause!

Thu, 06/24/2010 - 15:51 | 432110 masterinchancery
masterinchancery's picture

The smarter rats anyway.

Thu, 06/24/2010 - 17:50 | 432465 Dr. Sandi
Dr. Sandi's picture

Obama knows exactly what he's doing. And he's so good at it that you don't have to bend over.

One does NOT get to be the first black president by making waves for the people who own and operate America.

And by the same token, one does not keep being president unless one understands the rules of engagement. This is where JFK and Lincoln screwed up.

I'm pretty sure BO is smart enough to keep the back of his head exactly where it is.

Thu, 06/24/2010 - 11:25 | 431470 bugs_
bugs_'s picture

52 card pickup.

Thu, 06/24/2010 - 11:28 | 431476 schoolsout
schoolsout's picture

I'm pretty sure there are a few jokers in the mix, too

Thu, 06/24/2010 - 11:33 | 431488 superman07
superman07's picture

We elected a fool, then elected another, and another. We allow ourselves to be "managed" and ruled by idiots. I guess we deserve it.

Where did i put that pitchfork? Oh there it is under my 1911.


Thu, 06/24/2010 - 11:50 | 431506 BlackBeard
BlackBeard's picture

Where's your rifle son?

Thu, 06/24/2010 - 12:09 | 431546 DosZap
DosZap's picture


Right on,a handgun is only used to fight your way to a rifle,and do you know how to use one?.

Past 100-200yds?.

If not, best get a move on..........let another 30-40 million lose jobs, and homes, and we're in a world of shit.(not that we're not now).

To paraphrase Celente,

"When people lose it all, they LOSE it".



Thu, 06/24/2010 - 13:38 | 431750 Cathartes Aura
Cathartes Aura's picture

Genuine question:

When all you boys get out your guns, rifles, whatever, who do you plan on shooting?  Because you never really spell that out. 

When you "lose it" who are you going to kill??

Thu, 06/24/2010 - 14:09 | 431829 potatomafia
potatomafia's picture

Anyone who tries to steal what I have already earned, or tries to bring harm to myself or my family.. 

Thu, 06/24/2010 - 14:42 | 431919 Muir
Muir's picture

Well, baby, me so horny. Me so HORNY. Me love you long time. You party?

Son, all I've ever asked of my marines is that they obey my orders as they would the word of God. We are here to help the Vietnamese, because inside every gook there is an American trying to get out. It's a hardball world, son. We've gotta keep our heads until this peace craze blows over.

Thu, 06/24/2010 - 14:03 | 431814 Cathartes Aura
Cathartes Aura's picture

double-post ala page refresh.


Thu, 06/24/2010 - 11:56 | 431520 Walt Whitman
Walt Whitman's picture

I would tend to agree that "we deserve it," BUT...


As the media is owned by only 6 corporations, the info that gets disseminated to common-folk usually is full of obfuscation, shallowness and set narratives that do not tell the full story that people need to hear to make fully informed decisions.

Thu, 06/24/2010 - 13:01 | 431649 IrishSamurai
IrishSamurai's picture

Although freepress correctly identifies our national information problem in that link, they do not advocate the appropriate solution ...

If they truly were for "free" press, I'd support their efforts, but as it is they only support their "version" of the truth.

That said, we DEFINITELY deserve it ... the last 30 years has been a self-interest orgy the likes of which the world has not seen since the Roman empire.  Anyone who hasn't caught onto the "truth" yet is either blind, stupid (not ignorant mind you), mentally impaired, or in most cases, "agenda-challenged" ...  they don't want the truth because it does not meld with their agenda.

Thu, 06/24/2010 - 17:07 | 432346 Forbes
Forbes's picture

>Owned by only 6 corporations...


NYTimes/BostonGlobe, WaPo, USAToday/Gannett, WSJ/FOX/News Corp., CBS, NBC/GE/Comcast, ABC/Disney, CNN/Time-Warner--well there's 8.


Don't make me take my shoes and socks off...


Did you have anything more than a bogus talking point?

Thu, 06/24/2010 - 13:14 | 431679 Red Neck Repugnicant
Red Neck Repugnicant's picture


YOU may have elected a fool, but I didn't.  I voted for Bush, which is a vote for Jesus. Bush governed the right way - with the full guidance of a "higher father."

Then I voted for Palin, who also is in close communication with Jesus.

I have done significant research on the matter, and it is obvious that everything began to unravel in this country on January 20, 2009.  The credit markets where really bad that day, and that was Jesus telling us that he won't give us money since we put a Kenyan Muslim in the "white" house.  

Glenn Beck (my hero!..that guy is super-brilliant!) had some arrows on this chalk board the other day, and they all pointed to this recession being entirely Obama's fault.  It's true.  The closer that Obama became president, the worse the recession got.  Then when he got elected - KABAM! - big-time recession.  Glenn Becks charts prove it.  If it's on a chalk board, it's probably true.  

We need to immediately impeach Obama, and immediately bring back George Bush to clean up this mess. A vote for George Bush and/or Sarah Palin is a vote for Jesus, and there is no better economist than Jesus Christ.  

The end. 



Thu, 06/24/2010 - 13:24 | 431712 Cathartes Aura
Cathartes Aura's picture

hilarious troll is hilarious.


+ a dozen vuvuzelas.

Thu, 06/24/2010 - 13:27 | 431734 Oso
Oso's picture

wait, is this a serious post...?

Thu, 06/24/2010 - 13:34 | 431749 IBelieveInMagic
IBelieveInMagic's picture

Stephen Colbert?

Thu, 06/24/2010 - 13:45 | 431765 akak
akak's picture

Red Neck,

Yes, I agree with you, George Bush Jr. was the second coming of Christ, who sacrificed himself (oh, and a few thousand lives, and a few trillion dollars) to redeem us from our sins of peace and frugality.  As for Obama, I have no doubt that the only reason he hides behind those teleprompters is because their polarized filters hide the "666" on his forehead.  As for Sarah and her marching mental midget minions, God bless her, you betcha!

Thu, 06/24/2010 - 14:23 | 431868 Village Idiot
Village Idiot's picture


Thu, 06/24/2010 - 14:15 | 431849 SteveNYC
SteveNYC's picture

That is actually fuckin hilarious. Whoever junked that is a clown, based on humor value alone. Something tells me Red Neck doesn't necessarily like Obama and the Dems as much as the "junkers" may think he does..... does bring to bear, however, the hilarity in humans bringing "Jesus" and "God" into debates about war etc. Fuckin brilliant.

Thu, 06/24/2010 - 15:25 | 432032 Double down
Double down's picture

That is too funny, more please 

Thu, 06/24/2010 - 11:34 | 431489 Sudden Debt
Sudden Debt's picture

and no one can pass the game and has to play each hand to the end.

Also the common consumer is also hearing the rumors about the second dip and that's going to create a lock on their wallets yet again.

Obama will soon lose all the colour in his hair so it seems :)

Thu, 06/24/2010 - 11:36 | 431492 LoneStarHog
LoneStarHog's picture

John Williams at ShadowStats has put his reputation on the line and stated that 2010 will end in a hyperinflationary depression.  No mincing of words, just flat stated it.


Thu, 06/24/2010 - 13:03 | 431662 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Lone--Do you have a link? Last interview I heard (which was early in the Spring) He said it could fall apart tomorrow or 2 years, it depended on other factors.


Do you know if he changed his mind and where we could hear that interview?


Thu, 06/24/2010 - 11:38 | 431496 fearsomepirate
fearsomepirate's picture

Good analysis.  To throw more gasoline on this fire, don't forget that capital gains taxes are scheduled to skyrocket at the end of the year, so even the algos will get lower returns.  Everyone's trading is going to slow down, even the vampire squid's.  And *everyone's* income taxes are going up.  Consumers will have even less money to spend.  Small business owners will make less profit.  Real dividends are going to go down (and we all know what marvels low dividends do for stock prices).

This is where I pimp my blog, where I've written a bit more extensively about it:

Thu, 06/24/2010 - 12:41 | 431601 Muir
Muir's picture



That's great, this is really fuckin' great, man. Now, what the fuck are we supposed to do? We're in some pretty shit now, man. 
That's it, man. Game over, man. Game over, what the fuck are we supposed to now, huh, what are we gonna do?



Thu, 06/24/2010 - 12:55 | 431633 IE
IE's picture

A classic.

Thu, 06/24/2010 - 13:43 | 431656 Village Idiot
Village Idiot's picture

Paxton in his finest hour.

Thu, 06/24/2010 - 15:26 | 432038 Double down
Double down's picture

Typecast forever.  A fine death 

Thu, 06/24/2010 - 11:51 | 431505 FranSix
FranSix's picture

Don't like ZIRP?  Get ready for NIRP.  Negative Interest Rate Policy.

Unless of course, printing money nirps it in the bud.  *snork*

Thu, 06/24/2010 - 11:52 | 431511 Wynn
Wynn's picture

Never underestimate the tenacity of governments to do whatever it takes to preserve their power. I imagine Bernanke, Geithner and Summers have a few arrows in their quivers that none of us would suspect. They will eventually fail, of course, but this isn't over, not by a long shot. 


Thu, 06/24/2010 - 12:08 | 431541 IBelieveInMagic
IBelieveInMagic's picture

It is depressing to see ZHers appear to be rejoicing that the system is failing just because of investment in PMs/guns. It is going to be a pyrrhic victory.

Yes, the current government has no choice but to take desperate measures -- it is not like it has caused every single disaster, it is just happening on their clock while the bigger player responsible is clearing brush at his ranch in TX -- I am not an apologist, just a concerned citizen.

Thu, 06/24/2010 - 12:20 | 431563 Anton LaVey
Anton LaVey's picture

I agree with you the biggest culprit is clearing brush in Texas, but the elected replacement promised "Change we can believe in"... And the least that can be said about that is that he has been a HUGE disappointment.

Agreed on the "Pyrrhic Victory": it is going to be very, very ugly in the near future, and I, for one, does not rejoice in that, despite a certain amount of, shall we say, "Schadenfreude". Especially when it comes to bankers.

Thu, 06/24/2010 - 12:50 | 431621 Village Idiot
Village Idiot's picture

"It is depressing to see ZHers appear to be rejoicing that the system is failing just because of investment in PMs/guns"


And don't forget sovereign cds and currency trades, among others.  I'm using this site as a support group while the hedge fund I'm in works it's magic, hopefully.  I was a buy and hold sucker, and paid a price.  My turn for revenge. As far as destroying the country - the more I learn, the more I see how this country and it's people have been in a virtual screw job for god knows how long.  Count me in as a patriot that is looking to replenish wealth, and, get rid of the scourge.  And save the bullshit about me being part of the problem because I am betting against or using the same financial tools that are part of the root cause.  Just know that I will be around when/if the shooting starts and in the meantime, I'll just enjoy the show.  btw, ZH is like watching it in 3D.  Awesome.

Thu, 06/24/2010 - 12:50 | 431622 trav7777
trav7777's picture

the system is doomed to fail.  What kind of a system was it, anyhow?  One that enshrined the rentier class and a bunch of plutocrats into aristocracy?

who WOULDN'T rejoice at the destruction of that?  This is not the system we had before CEO pay multiples blew vertical

Thu, 06/24/2010 - 12:52 | 431625 desgust
desgust's picture

Pretty much the whole world is waiting for the "system to fail and not only for schadenfreude but cos we are fed up with the American hegemony, American Wars against the World, American Robbery, American Lies !!! The sooner the bettter! Sorry for all decent people out there is life!

Thu, 06/24/2010 - 12:55 | 431640 RRA_223
RRA_223's picture

"Bush's Fault?"   Good thing we've moved on.   Unfortunately this is the dumbest response I've read on ZH all day.

Bush holds his share of the blame, but we're shamelessly ignoring decades of contributions from both parties: Clinton, Bush, Obama - Pelosi, Reid and every sesson of Congress since Carter.  

Some planted the seeds, some fertilized them, some talked them into blooming, some helped those seeds grow - but ALL of them played important parts in growing the wild brush that's burning in front of us now.

"Blame Bush" is as myopic and simple an excuse as modern politics has known. 

Thu, 06/24/2010 - 14:15 | 431846 fearsomepirate
fearsomepirate's picture

Don't forget Woodrow Wilson, FDR, and Hubert Humphrey, while you're at it.  It's taken nearly a century for them to take down America; shows just how tough it was built to begin with.

Thu, 06/24/2010 - 12:57 | 431645 -Michelle-
-Michelle-'s picture

This goes back way further than 2000...

Thu, 06/24/2010 - 17:54 | 432478 ToddGak
ToddGak's picture

Indeed....the seeds were sown with the closing of the gold window in 1971...this allowed us to start settling our debts with dollars instead of gold, and of course we can always issue more dollars...thus leading to our massive trade imbalance, destruction of the manufacturing sector as we could use credit to purchase more foreign goods than we export, etc. etc.

Thu, 06/24/2010 - 13:05 | 431668 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Obviously you are a newbie. You'll figure it out um, concerned citizen.

Thu, 06/24/2010 - 14:14 | 431841 fearsomepirate
fearsomepirate's picture

When our masters in Washington and New York have conspired* to destroy us all for their own gain, there's little we can do except rejoice in being able to say, "I told you so."

*Not a real conspiracy of course, merely an emergent conspiracy caused by each Nice Government Man acting in his personal interests, like plans and orders emerge in economies when we each act in our own interests.

Thu, 06/24/2010 - 15:39 | 432081 Freebird
Freebird's picture

And when he has finished in Texas there is always Paraguay...

Thu, 06/24/2010 - 11:53 | 431513 buzzsaw99
buzzsaw99's picture

Does this mean Ann Margaret is not coming?


Seriously, Bennie B. can fix this, he has a hella-printer.

Thu, 06/24/2010 - 11:53 | 431515 MGA_1
MGA_1's picture

Deflation for sure with all the bad debt out there.  The question is: "Will the Fed Print?".  If we look at past actions, then the answer is yes.


I think a deflationary depression would be slightly better than inflationary in that at least the dollars you hold would be worth something.  Right now, purchasing precious metals seems to be a pretty darn good idea.

Thu, 06/24/2010 - 12:04 | 431528 fearsomepirate
fearsomepirate's picture

Well, yeah.  Destroying the dollar doesn't help anyone except the vampire squid and its minions.  It doesn't prevent the real economic phenomena associated with deflation, like contracting credit.  And it makes people feel like they're profiting when they're actually taking on huge losses, so we consume ourselves that much faster.  It's like economic leprosy.

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