Bob Janjuah's Latest: Time To Fade Jackson Hole

Tyler Durden's picture

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FOC 1183's picture

No abbreviations.  :{

oh_bama's picture

The idea is that as long as there are people don't believe the BTFD--the guys appear to be knowing what they are doing,

then you can safely


blindfaith's picture

you take both side of the story and melt them together and you get a story that isn't saying a thing, especially to Zh readers.

You, as a strategist, lack in a strategy.  Describing situations is not analysing  situations for a strategy.  How can you state to invest in commodities in one place and that will have  Major sell off in another?????

gringo28's picture

no fucking shit. if this is what passes for buy side strategy these days, no wonder 75% of hedgies can't even match the stupid fucking SP500. on a serious note, i will say that this guy misses the big point: that the US is going through a structural recovery and the EMs are cyclical doesn't preclude for a minute the possibility that things will be just fine in EM land, if not at a slower pace, and persistently shitty here in the US. armchair analysts need to get on a frikin' plane and spend some time in Brazil or China before they decide to impose the US development model theory on developing economies. EMs' greatest asset is a starving populace that will work harder for less money.

Ajaxromeo's picture

JanJuah's logic uses the wrong premise. He accepts QE as a stimulus when it is not. It is monetization of debt that cannot be sold at rates the US can afford.

Anyone who argues that QE will end should be required to cite who will buy the 2 trillion in new debt the US will issue over the next year and at what rates.

The only way QE will end is if the Arab Genocide Program (war on terror) is halted.

How high is the 'political hurdle' for that?

whatz that smell's picture

dude! - enough - with - the - hypens - already!

maybe go half -- half on the de-hypenated expresso next time...

The Axe's picture

Please I agree with the comment..A whole lot of nothing. These guys are more confused them I am in this glorified Fed induced fart stink of a market...

Trader7's picture

Forgive my ignorance, but what is the "EM bloc"? I'm guessing it refers to Europe. What does "EM" literally stand for?

Trader7's picture

Thanks. ...and thanks to RSI below.

Buttcathead's picture

Debt does equal wealth.  If you is bankrupt and gots no debt you is broke.  If you is gots debt you is gets mega bail outs from The Bernack. 

nathan1234's picture

It's time that the Fed along with Alan & Ben be buried in Jackson's Hole forever. A cement jacket would be ideal as Ben may otherwise EASE himself out of it

Zero Govt's picture

"We think the risk is that Asia and the EM bloc choose growth over the prudent and credible management of inflation.."

How do you think Govt policy has any effect on what 50,000 businesses in each economy do and react to events? Govt is the King Canute of the economy, actually check the facts, they FOLLOW the economy not dictate or predict it. Govt is a fag paper flapping in the economic wind, not a conductor. It has no control over small to medium sized business decisions who are 90% of the private sector. Big Govt talks only to Big Biz. Both are marginals in the economies direction. 

"...a common eurozonewide fiscal policy... seems to also to be accepted by eurozone policymakers up of sovereignty."

I got news for you buddy. The Eurozone is popping at the seams. The trend you haven't noticed is for Euro disintegration, not integration (tell Barruso and Van Rompey, these dreamers need to face reality sometime). The trend will be for countries to stamp their own sovereignty and go their own way, not be consumed by the dumbed down EU Marxists trite view of a harmoginised Euro-margerine they can play conductor with. They're about to get their wand stuck up their rectum while their 'Great Euro Empire' splinters and shuts down the EU for good.

"Policymakers may indeed have won a few battles recently... risks that exist are not only being ignored, they are actually getting bigger."

You mean faced with a problem of debt, policymakers thought double the debt was a 'solution'. Every political solution throughout history is to throw more money at it. When faced with dumb, politicians think double-dumb is the answer. 

The real 'solution' is to allow the free market to work, for the bankrupt to go bankrupt, and to shut down Govt the worst problem solvers in history

gwar5's picture

Too late. It's a one way trip. They're past the fail safe point.

There's no going back. Benbabwe is all in.

Zero Govt's picture

"Benbabwe" like that... but it suggests this counterfeit money is hitting the streets, it ain't, it's going to theirer buddies in Big Banks because that's all Big Govt talks to. It has no effect on the 90% of the economy, SME's, nor does any political decision from central bankers who haved no control whatsoever over inflation or anything else. Big Govt and Big Biz is a fantasy land for the deluded control freaks ...windbags one and all