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As Red Geithner might say: "No one could have seen this coming!"
What's the smilie for puking?
But Trav7777 said the Fukushima incident is completely contained and nothing to worry about!
Thomas Lee from JPM also sees rainbows and unicorns. I was just reading on Bloomberg he is calling for a big recovery in housing just around the corner. Apparently building materials suppliers are a great buy. Oh yes we have seen the market bottom for the year as well!
The best time to talk up the housing book is when the kids are getting out of school. There's lots of inventory to dump...lots of sheep need to be sheered. If not, it means another cold winter in the housing warehouse .
Last year's NAR theme: "there's never been a better time to buy a home".
BUT TYLER!!!! The Associated Press says "Japan is recovering"!!!! reprinted about a billion times in every newspaper around the world but the main source is Associated Propaganda... opps I mean Associated Press!!!
Huh, and these guys actually get paid for such pearls of wisdom and insight.
First Dominique-Strauss Kahn, now billionaire and silver bull Hugo Salinas Price is fearful that something will happen to him next:
I see further economic downgrade after the demise of the human race due to three "China Syndromes" occurring at the same time. I'll wait for a Wall Street Stategist to tell me to die before I expire. Gotta hedge that bet.
Took them a long time to see the light on Japan.....enough time to adjust positions.
The light of Japan? you mean the ever so growing green glow?
Exactly. They are talking their book, the most recently updated one.
Remember the huge "Japan Reconstruction Trade" trumpeted by CNBC's Bob Pisani and the ensuing rally? These CNBC clowns really piss me off...
Obviously, Pisani skipped Bastiat's parable of the broken window.
With a smaller trade surplus can they buy treasurys in the quantities anticipated?
Might this be part of the reason Governmant Sachs aka the squid went bearish?
And another thing....The Fed (barnank) are guaging the "economy" by watching the S&P - wealth effect, my ass.
But I thought the apoacalyse was bullish for GDP!?! Everything will have to be re-built. Unemployment will be 0% after everyone is dead. Inflation will be transitory too, I suppose, as all of the worlds money comes home to the few things that weren't destroyed.
Bullish for undertakers. The mortuary sector will pull the economy out of recession
You mean that some things can be negative? Wow, man.
A big component of a true Ponzi scheme aka the economy, is never ever admitting that you can have a bad day. The tell (as with Madoff and Ponzi himself) was always an unrealistic winning streak that became as predictable as the sun coming up in the morning. In a Ponzi economy based on growth of paper (money, credit, securities) rather than organic growth it becomes harder and harder to admit you could have a bad day for fear that the shaky edifice will come completely unhinged.
The current economy is like my ex's outlook on life: Disregard reality at all cost and never ever waiver in your delusion. It's a recipe for great success and happy ending.
Wasn't it also Joe LaFagna at Doosha Bank, starting a year + ago who kept calling for a 400k + Non-farms Payroll print "any month now"? The delusions of PermaBulls!
The article title is priceless. Why are people so fucking stupid? I 100% believe Osama Bin Laden was killed and thrown to sea! Any person believing that without question is nothing more than an asshole. Same goes for believing 911 the day that buildings fall apart, planes disappeared, but passports were found in the rubble are found.
Is there any way we can label climate change/weather as a terrorist and wage a war on it? Fucking bastard is a threat to national and global security.
DoyBank still living in the easy fiat money yesteryear to ever think devastation leads to growth. Not anymore, not before SAVING that is.
I vividly remember throwing up in my mouth when I heard the first jackass claim that this catastrophe could in any way be a good thing for Japan.
Sure, a lot of stuff has to be rebuilt, etc...
...which creates jobs, maybe helps manufacturing, etc...
...which is great if you can actually pay for it...and/or aren't in too much debt already...
it is healthier to focus on the green shoots. for sheep.
and, i think the world has a bit more overreacting to japan to go; after all, the zeroHeads were among the most alarmist on the planet; why stop now?
" But, but, wasn't it Deutsche Bank's very own Joe LaVorgna who first said that the disaster would actually be beneficial for world GDP, and subsequently that the world is "overreacting."
i think overreacting = bailing out douchebanksters. so there!
Quarterly earnings in June and July will have bad news for the stock markets due to the supply chain disruption from Japan to the rest of the world. This is not only for automobiles, but for other industries as well. Economic collapse? Prepare yourself.
The Broken Window Fallacy fails to reboot the economy. But it makes a great sales pitch to the IMF head, Cash for Spunkers!
Only these fucking economic savants would think that a major disaster is a net economic plus which creates a growth event. That illustrates what is wrong with MMT, they are idiots in a cardboard box thinking they rule the world.
Insane is another description.
Disaster or War = good for the economy
Borrow more and hide the issue - the social sec Ponzi scheme, military insanity - 3x 2002 levels
Borrow more and hide the issue - the destruction of the middle class, the rape of health care by Washington, a few thousand greedy Doctors and HC execs
Disaster and War = good for the economy
Don't get it Joe, do you ?
Joe BaLogna pulling down high 6g's for what? What is his value proposition?
YouTube's Harisebon7777777 should be commended for his work on measuring the radiation levels in Tokyo. The device he uses costs about $1000, which I am sure he has paid out of his own pocket to provide us with the truth of what is really going on in Japan. It is eerie to watch his videos. Typically, his hand is shown holding a geiger counter in some public place with people walking all around him as if there was nothing of importance going on; while all along, the geiger counter in his hand reveals what is really happening. Harisebon is documenting the slow irradiation of the Japanese archipelago. A visual unfolding of a tragedy. While watching these videos. it is hard not to wonder how many of the folks one sees walking down the street will come down with cancer in 10, 20 or 30 years. Go to Harisebon's YouTube channel and give him a shout-out. He deserves it. http://fukushimadisaster.blogspot.com/2011/05/radiation-harajiku-omotesa...
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