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"Do You Read Zero Hedge?" A Review of Zero Hedge's Most Popular Articles of [All Time|2009]

Marla Singer's picture


True, the decade is not really over, but no one called 1930 the "last year of the 20's," and given the reflective mood that seems to grip all of Western society whenever a year ending in "9" draws to a close, well, we thought we'd better embrace the trend now so that when some idiot with a pair of glow-in-the-dark "2010" glasses with holes in the zeros for his eyes tries to convince us to watch Roy Scheider over and over again in a celebratory, all-day, marathon screening of "2010," well, we can say we gave at the blog.

Instead, and in conjunction with your many suggestions, we took the opportunity to go back over Zero Hedge's posts and see what moved you, with an eye towards getting a sense of what Zero Hedge wants to read.  The results were quite interesting.  We thought readers would find it engaging both as a sort of "year in review" post, and, perhaps, in finding old material missed the first time around (or before the discovery of Zero Hedge).

Though this is by no means a comprehensive list, and we have omitted a number of "big hit count" posts that may have repeated the subject matter of those listed here, or otherwise be dull (what weighty relevance could our T-Shirt post have?) the list below represents a good sampling of some of the most popular articles, reproduced here in (very rough) ascending order of popularity:

One thing we learned very quickly is that, as often as not, title is a strong determiner of post popularity on Zero Hedge. "Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce" was one such.  The news that a small island was buying gold en masse hit all the hot buttons:  Gold.  Banana republics. The dollar as a reserve currency.  (The swimsuit picture might have helped too).

Obviously, the FDIC has been a frequent target of our curiosity.  Along with increasingly obvious signs of an impending nervous breakdown in Sheila Bair's on-camera appearance, the recent dip of the Insurance Fund into red ink prompted "FDIC Discloses Deposit Insurance Fund Is Now Negative," which, while unsurprising to those of us who have been watching for some time, was a good reminder that when you base insurance rates on something other than real actuarial data (like say, the impact those rates might have on a bank's bottom line) you get bankrupt insurance [companies|funds].  Of course, since the FDIC can "literally never run out of money," none of that really matters.  Right?

One thing leads to another, so it's not surprising that "Peter Costa: 'The US Government Will Be Totally Bankrupt In A Year And A Half'" ends up right next to Sheila in the popularity list.  Government spending is, of course, an important topic to Zero Hedge readers.  (Also, you seem to like videos from CNBC.  We aren't sure what to make of this).

We were amused to no end on discovering that a CNBC video re-post was just below "CNBC Viewership Plunges 50% In October" on the popularity list.  To be fair, Zero Hedge has relentlessly hounded the bag of schnitzel that is CNBC on the ratings issue.  This particular post prompted an angry call from a fairly senior executive in CNBC's public relations arm to our never-complaining but often beleaguered (and uncompensated) Executive Vice President of Answering the Hot-line wherein the CNBC exec berated our hero for not calling him directly for comment before printing and accusing Zero Hedge of being a shill for the Fox network.  When asked if the figures discussed in the post were inaccurate CNBC exec reportedly paused before intoning: "Well, that's not the point, is it? You are comparing against our biggest ratings ever at the beginning of the crash!"  Yes.  And?

Huge selloffs often result in the dusting off of some version of "The 'Money On The Sidelines' Fallacy."  As a bit of silver lining lore, it is looking pretty tarnished.  That didn't stop our examination of it from being one of the top posts of the Summer.

A constant and early debate at Zero Hedge was the viability of a philosophy that included a wealth of Deep-dive analysis as a mainstay of our editorial strategy.  Would an audience entertain repeated and highly technical postings day after day and keep coming back for more?  Or would we drive away the interest if we did not dumb down the content.  As "deep-dive" goes, and begging the audiences pardon for the shameless self reference, my occasional pairings with Geoffrey Batt tend to peg the Zero Hedge complexity meter into the red with a combination of legal and financial wonkism.  "Is The Fed Facing Margin Calls From European Banks?" was no exception.  A hybridized subject matter including AIG, the circumventing of banking regulation, margin calls and backstopping by the Federal reserve combined to propel what was otherwise a highly technical post to one of the top 25 in Zero Hedge history, despite it being less than a month old.  Apparently, you Zero Hedge readers don't need "dumbing down" to remain interested.

It would be entirely impossible to catalogue a list of popular (or influential) posts at Zero Hedge without including "Is A Case Of Quant Trading Sabotage About To Destroy Goldman Sachs?" in a prominent spot.  Again, a combination of some classic Zero Hedge hot buttons (Goldman Sachs possibly influencing a young and impressionable U.S. Attorney, High Frequency Trading and the term "market manipulation") conspired to stress our servers.

Gold is a consistently popular theme at Zero Hedge so, in last month's runup, it wasn't hard to make some predictions a la "Is Gold Set To Hit $1,200 Within 24 Hours?"  Alas, we missed our call by 10 days.

Direct intervention in the equity markets by the Federal Reserve is a big "no-no."  But who cares when easy credit from the Fed can be used by primary dealers to go on a equity buying spree? We explored the answer to that question in "An Overview Of The Fed's Intervention In Equity Markets Via The Primary Dealer Credit Facility."  It was another highly technical (and yet highly popular) posting.  Kudos to you, oh, Zero Hedge reader of great complexity thirst.

We loves us some Janet Tavakoli.  So do you apparently, as the widespread interest in "Janet Tavakoli On Why Meltdown Risk Now Is Greater Than It Was In 2007" aptly demonstrated.  But then, who can fail to enjoy a firebrand like Tavakoli when she prompts the likes of Goldman Sachs to distraction?

One measure of Zero Hedge's success is the almost daunting stature of the many collaborators and guest posters our pages attract.  Articles with the likes of David Rosenberg as collaborators are, as one would suspect, intensely popular.  "The End Of The End Of The Recession" was no exception.

Need we insult you by explaining the popularity of "A Zero Hedge Petition: Break Debt Habit, Freeze The Debt Ceiling"?

It probably isn't a surprise that an article about phantom Treasury purchasers would be among Zero Hedge's top posts of all time.  That an article less than a week old would top many others with months of clicking under the belts already is, however, impressive.  Witness the massive click fest that was "Sprott Calls The Fed "A Ponzi Scheme" As Half A Trillion In Treasury Purchasers Are Unaccounted For".

The difference between real and nominal returns is oft ignored when the mainstream media engages in economic analysis based on equity prices.  Hence, our "DOW 10,000!!!! Oh Wait, Make That 7,537" got quite a lot of attention.  Never to be left out of the fun, the mainstream press has seemingly adopted the theme (10 weeks later).  We aren't holding our breath for attribution.

The Swiss Franc was redeemable in gold up until the year 2000.  Whatever else they are, the Swiss are stability obsessed.  Unsurprising, then, that "From Switzerland With No Love - Wegelin Bank Says Goodbye," a review of Wegelin's decision to abandon investment in the United States, drew so many Zero Hedge readers in.

As you might imagine, we hear a number of theories on why the Dollar is in a secular decline.  Still, our own analysis "Here Is Why The Dollar Is Now Effectively Worthless," used the apparently winning combination of QE and reserve analysis to wonder how anyone could ascribe a positive value to the fiat currency any longer.  Like it or not, you apparently enjoyed the discussion, as this post sailed effortlessly into our top ten of all time.

Closely behind was "Thousands Of Rusting Ship Hulls Are A Fitting Tribute To The Speculative Market Bubble," a bit of analysis that seems to have prompted a gaggle of writers worldwide to take a keen interest in satellite photos of idle shipping and GPS tracking sites for the world's mercantile fleet.  Of course, the obligatory flood of copy-cat analysis by more mainstream outlets followed hard upon.

My personal pick for best Zero Hedge post of all time "How The Federal Reserve Bailed Out The World" is also in the top five. I cannot imagine a forum in which this sort of analysis would ever find a public airing, or a place where readers could obtain a deeper understanding of the global interplay between central banks than is exemplified in this post.  Again, the fact that readers had a voracious appetite for the piece is a reminder than depth is not anathema to readership.

There is no way that, after a mere three days (and over the holidays no less),  "Brace For Impact: In 2010, Demand For US Fixed Income Has To Increase Elevenfold... Or Else" should be in the top four.  It is a deep, highly complex and analysis laden post.  True, there are colorful graphs, but even repeated readings by CNBC's color addled anchors could not explain the massive readership that hit this post on the afternoon of Christmas Day while the Christmas Ham (or non-denominational family dinner) was cooking in the other room.  Just, wow.

"Goldman Sachs Responds To Zero Hedge."  Yeah, so that was kind of popular.  Modest prevents us from further comment.

Arguments for the secrecy of the Federal Reserve, and pleadings for its continued independence, are always a big draw.  Still, we were surprised by the absolutely massive response to "Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information."  Massive enough, in fact, to make it the second most popular post on Zero Hedge.  Ever.

Number one "Shadowstats' John Williams: Prepare For The Hyperinflationary Great Depression" probably bears no further comment.

It has been a dauntingly popular year.  We look forward to the next one.  Join us? (Or die).


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Mon, 12/28/2009 - 16:39 | 176156 Anonymouse
Anonymouse's picture

Love the countdown.  Are you taking long-distance dedications?


Great job ZH.  Keep your feet on the ground, and keep reaching for the stars

Mon, 12/28/2009 - 16:47 | 176160 Cognitive Dissonance
Cognitive Dissonance's picture

Congratulations Zero Hedge on a fantastic first year. Judging by the amount of corporate and governmental corruption left to be scrutinized and commented upon (not to mention general evil doing as far as the eye can see) you'll have plenty of dirty laundry to launder for at least a few more years.


Mon, 12/28/2009 - 16:43 | 176164 nicholsong
nicholsong's picture

My favorite was that one story about the guy in that place with the thing.

Mon, 12/28/2009 - 17:33 | 176221 Handle with care
Handle with care's picture

That one wasn't bad, but the best one was the two guys arguing with the other guy about whether the thingamajig was still whatchamacallit.




I still reminisce about that one. 

Mon, 12/28/2009 - 17:55 | 176246 nicholsong
nicholsong's picture

Ah yes, that one gets me every time.

Mon, 12/28/2009 - 20:28 | 176375 Anonymous
Anonymous's picture

I'm not funny or articulate enough to comment often on this site, but in my days of despair in 2009 this site offered me rip roaring laughter on a daily basis. Sometimes I don't even read the articles but go staight to the comments to give myself a lift. Love all the commentators on this site. Thank You!!!

Tue, 12/29/2009 - 01:45 | 176541 qqqqtrader
qqqqtrader's picture

Are we supposed to read the articles?

hmmmm... I've just been reading the titles, I better get busy

Tue, 12/29/2009 - 07:52 | 176598 Fur Trader
Fur Trader's picture

Me too.  When time is tight I go from headline to comments right away.

I love ZH.  I love hearing my inner voice say " I didn't know that....", or better still, " I didn't know I didn't know that."

Tue, 12/29/2009 - 11:12 | 176677 Anonymous
Anonymous's picture


Yes, given the comments, that is exactly how most view ZH - as a community and not a source of facts.

Mon, 12/28/2009 - 17:10 | 176196 Anonymous
Anonymous's picture

Thanks for feeding my brain.

Mon, 12/28/2009 - 17:13 | 176199 besodemuerte
besodemuerte's picture

Thanks for the list, now I can go over all that I missed this year by discovering ZH later than I would've liked!

Mon, 12/28/2009 - 17:18 | 176206 Oso
Oso's picture

yes, great work guys.  Im not sure what my view of reality would be like if ZH wasnt around.  I mean, i would have lower blood pressure, thats for sure.... but I wouldnt be happier ;)

Mon, 12/28/2009 - 17:20 | 176210 chumbawamba
chumbawamba's picture

Sorry to rain on part of your parade, but I had read about the dormant shipping vessels at least a day or two before seeing it written about on ZH.

All the same, though...

The ZH Top Ten is simply a reflection that people want THE TRUTH, something that only ZH is apparently able to provide in a compelling way that draws throngs of readers.

Like I said before, this is the start of something very special.  The best is well yet to come.

I am Chumbawamba.

Mon, 12/28/2009 - 17:39 | 176228 Handle with care
Handle with care's picture

I'll back you up here as I also remember reading about several days before.  I discovered it on another board so it was also being discussed relatively widely on the interwebs before ZH posted it.


I have lost hope that the truth has any purchasing power in a system where every politician and mass media outlet is bought and paid for by the criminal proceeds of the actions they permit and abet. 


The level of corruption that is being revealed and is ongoing is beyond the worst nightmares of anyone and I think that most are still in a state of denial as accepting the truth as reality can only mean violent revolution.  So most will prefer to accept the panglossian propaganda rather than risk losing the little they have left.


We've reached a stage where no level of cynicism can keep up with reality

Tue, 12/29/2009 - 11:41 | 176697 Marley
Marley's picture

Thanks again ZH. 

"Most will perfer to accept the panglossian propaganda rather than risk losing the little they have left."  I would add that this is not a poor man's depression.  When those whom are less than three generations into the "upper class" are smacked back down, then possibly it will be they that revolt. Assuming they can leave their Starbucks cups and crack berries behind.  After all, you've got to have money to make or lose money.  This period of "good times" wasn't shared by all.  Look at the increasing disparity between the "rich" and the "poor".  So while you all cry into your $300 dollar bottles of wine this New Years, the real strife for life continues.

Mon, 12/28/2009 - 18:18 | 176237 Lou629
Lou629's picture

"The ZH Top Ten is simply a reflection that people want THE TRUTH..."


I note that all the tinfoil that had been having an undue influence on the signal-to-noise ratio around here lately doesn't seem to have made it into the top ten either.  Kudos.

Mon, 12/28/2009 - 18:00 | 176249 Anonymous
Anonymous's picture

Hey, Louie, sorry to see half the content of your posts are sorry attempts at provocation.

And sorry to not see 'Gold, Bitches' NOT in the top 25 - it even got itself a coffee mug!

Mon, 12/28/2009 - 23:00 | 176481 Lou629
Lou629's picture

Sorry to see another no-count "Anon." post with nothing to add except the very thing you accuse me of.  You must surely be one of the tinfoil crowd posting anonymously.  Try to imagine my surprise.   By the way, my friends can call me "Louie", it's Mr. 629 to you, Asshole.

Tue, 12/29/2009 - 01:54 | 176545 Anonymous
Anonymous's picture

M. 626,
A bit harsh no? Whilst I agree with your distaste here, coming down on Anons like that is a bit undeserved.

Also, what's wrong with a little meme here and there? 'Gold Bitches' really is a ZH endogenic meme that has, as memes are want to do, spread its wings and flown.

I think this is a little too hardcore to fall prey to the machinations that befell other once worthy but now asinine post boards(reddit/digg), so let a discussion be a discussion rather than a spitting match.


Tue, 12/29/2009 - 11:43 | 176701 Anonymous
Anonymous's picture

It's on, mofo.

Tinfoil is the only thing keeping you from getting bent over by over-funded tyranny agencies. What do you think the CIA does all day, throw candy to kids?

The CIA beats, maims, murders, bombs - worldwide. But you, and so many other sheep don't seem to care - in fact, you're not one of the sheep. You go out of your way to make fun of people that question authority - fuck you, Lou-bag.

Mon, 12/28/2009 - 18:21 | 176275 VegasBD
VegasBD's picture

dormant shipping vessels bitches!

Mon, 12/28/2009 - 17:26 | 176215 phaesed
phaesed's picture

ZH is the only financial news source I trust *shrug* Opinions are stated as opinions and facts are stated as facts. But the most important fact is that they report NEWS, not bank fluffer pieces. Thank you to all who contribute. (and yes, I do realize in the prior piece I actually dissented *gasp* :) )

Mon, 12/28/2009 - 17:29 | 176219 Anal_yst
Anal_yst's picture

Thanks, MS, here's to hoping you, TD, etc don't give up on us anytime soon/ever.

Mon, 12/28/2009 - 17:40 | 176229 Anonymous
Anonymous's picture

Very nice, I have never felt comfortable requesting this before, but I felt this was a good a place and time as I would get.

Have you ever thought of running a bank failure counter on the margins of this blog?

Thank you.

Mon, 12/28/2009 - 19:32 | 176322 dogbreath
dogbreath's picture

started as a mortgage company implode blog and then started tracking bank implosions and home builder implosions.



Mon, 12/28/2009 - 17:50 | 176236 Stoploss
Stoploss's picture

ZH is rooted in reality. To me, that is what seperates this site from any other. Keep up the excellent work!

Mon, 12/28/2009 - 17:54 | 176244 Anonymous
Anonymous's picture

thank you guys. before you arrived, i thought my head would explode every time I heard a government statistic telling me how great the recovery is, or why we "had to" give the treasury to Goldman Sachs.

thank you.

Mon, 12/28/2009 - 17:58 | 176248 Eternal Student
Eternal Student's picture

And thanks to all at ZH for these great articles.

Speaking of Janet Tavakoli, here's an idea for a ZH money-raiser. How about a pin up calendar of the hot babes of finance? Women who are:

  1. A part of the financial world.
  2. Bright
  3. Hot, or at least good looking (I'll take brains and knowledge anytime).
  4. Not a shill.

My votes so far are:

  1. Marla
  2. Janet Tavakoli
  3. Meredith Witney
  4. Elizabeth Warren
  5. Diana Olick

Diana Olick is a maybe, as requirement #4 would eliminate most of the bimbo's as CNBC. But she's no bimbo, and pretty much tells it like it is.

Any other nominations?

Mon, 12/28/2009 - 18:25 | 176279 mule65
mule65's picture

Who could forget Erin Callan?

Mon, 12/28/2009 - 18:27 | 176283 VegasBD
VegasBD's picture

Amanda Drury.

Looks are all that matters to me. Maybe its a vegas thing...

Mon, 12/28/2009 - 20:57 | 176395 Anonymous
Anonymous's picture

What about Ellen Brown.

I don't know what she looks like. Sometimes truth is hot though.

Tue, 12/29/2009 - 00:38 | 176516 Anonymous
Anonymous's picture

Yeah, go back to school and figure out that not everything has to be done by girls for looks and boys for brains. stupid ideas just don't seem to go away.

Tue, 12/29/2009 - 01:16 | 176528 tip e. canoe
tip e. canoe's picture


Mon, 12/28/2009 - 18:01 | 176250 Cursive
Cursive's picture

My favorite story?  There have been many, but Sprott's QuEasyGate.  And it's still developing...

Mon, 12/28/2009 - 18:03 | 176252 Anonymous
Anonymous's picture

Why no rebuttal to Goldman Sachs response? If there is anything, this website is not known as being 'modest' - and in fact revels in the opposite.

Mon, 12/28/2009 - 18:07 | 176257 callistenes
callistenes's picture

Thanks, there were some I missed while in Thailand trying to stay drunk and ignore Dubai.

Mon, 12/28/2009 - 18:09 | 176259 Anonymous
Anonymous's picture

Thanks for all the hard work. Great investigatory, creative, and smart writing. Now, next is to actually nudge / force progress and solutions to all this nonsense. We, the ZH consuming public, are just as guilty as anyone if the only thing we do with all your hard work is shake our heads as we shut out laptops.

Mon, 12/28/2009 - 18:09 | 176261 Unscarred
Unscarred's picture

Given the obvious cumulative wattage held by ZH senior staff, I can only image the number of laughs had at our expense based upon the popularity (or lack thereof) for various posts over the past year (not to mention the comments, both individually and collectively).  As an experiment in human behavior, this would be truly fascinating data to peruse.

Also, I share Andy Dufresne's perspective as to what hooked me on ZH.  As they say the tongue is the only tool to grow sharper with use, your abilities as cunning linguists continue to impress, enlighten, and entertain.

Many congratulations to all of you, and I eagerly await 2010.

Mon, 12/28/2009 - 18:11 | 176262 nopat
nopat's picture

Graphs, goddamnit, I need graphs.  And charts.  Fucking bullet points, too many goddamn words!!!

Mon, 12/28/2009 - 18:48 | 176299 Hephasteus
Hephasteus's picture

Nooooo!!!! Powerpoint has turned another brain to MUSH!!! LOL

Mon, 12/28/2009 - 18:11 | 176263 laughing_swordfish
laughing_swordfish's picture

Great Reads every one.

For my part I prop ZH everywhere I can, and can tell you that I have at least two dozen folks now reading the site and participating, most with more technical financial knowledge than myself.

Zero Hedge is true "Samizdat" - the hidden truth that TPTB and their bought-and-paid-for mouthpieces don't want us even discussing, let alone finding out about.

Carry on and bring it in 2010!


KptLt. laughing swordfish

9er Unterseeboote Flotille

Mon, 12/28/2009 - 19:36 | 176327 dogbreath
dogbreath's picture

Zero Hedge is true "Samizdat"  !!!

Mon, 12/28/2009 - 18:12 | 176264 merehuman
merehuman's picture

would love to hear any comment at all on Arrow trucking closing its doors over christmas. At minimum 1,400 drivers left stranded, told to leave truck.

Their last check bounced but the executives paid themselves well and first.

I wonder how they rank, they are not the biggest, but others may fall also due to retailers minimizing orders.  Lack of credit may also play in this.

Can i still get my beer and mtv?

Mon, 12/28/2009 - 18:28 | 176282 MsCreant
MsCreant's picture

I know someone who works at Ford. When I read him the news he told me that they have had this happen to them three times (ie the trucking outfit going bankrupt and leaving their cargo stranded where it sat and the trucker gone). He was not impressed with this as a news item, at all. I think the Christmas angle made it "newsworthy."

Mon, 12/28/2009 - 22:59 | 176479 merehuman
merehuman's picture

Thanks MsCreant, 1,400 drivers means that many mortgages arent getting paid.

And that many trucks arent delivering, so to me its part of the ongoing crumbling of our society.

Tue, 12/29/2009 - 11:52 | 176712 Anonymous
Anonymous's picture

Don't worry, those homes will just go into the shadow inventory. Haven't you heard home prices are on the rise again?

Mon, 12/28/2009 - 18:12 | 176265 WaterWings
WaterWings's picture

Sorry Liesman.

Mon, 12/28/2009 - 18:19 | 176271 Handle with care
Handle with care's picture

I'd just like to add that what you're doing here is important. Really important.


Sites like ZH, Denningers Market Ticker, and others, whether you agree with all the opinions that intersperse the analysis, are at the very least trying to shine light on the dark spaces where the parasitic criminal classes lurk.


The bankers and their crony politicians can only conduct their thefts in the dark.  Exposed to the light they slither away.


Only by removing the cloak of shadow that covers their misdeeds do we have any chance at all at stopping and rescuing this nation and making the seeming inevitable slide to neo-feudalism a little less inevitable.


I for one deeply appreciate the work that all contributors to this site have made to lifting up the rocks and exposing the dark undersides to the light

Mon, 12/28/2009 - 18:21 | 176276 mule65
mule65's picture

I like RobotTrader.

Mon, 12/28/2009 - 18:33 | 176281 Miles Kendig
Miles Kendig's picture

What is so amazing is the idea that a site focused upon finance and the issues relating to it would resonate not only to its directed segment, financial professionals, but to a global audience of the interested. As a regular here that came from the non financial professional camp all I care to say is what a year, what potential and thanks to those professionals that have taken the time to educate and enlighten me along the way, what a place.

Tue, 12/29/2009 - 01:57 | 176546 faustian bargain
faustian bargain's picture

Agreed, as another non-financial person I have learned a lot of important stuff here in the past few months.

Mon, 12/28/2009 - 18:35 | 176289 Anonymous
Anonymous's picture

"True, the decade is not really over"

Yes it is.

Mon, 12/28/2009 - 19:36 | 176328 Anonymous
Anonymous's picture


Mon, 12/28/2009 - 18:39 | 176291 Enkidu
Enkidu's picture

"...or before the discovery of Zero Hedge" --- that bleak bleak time.

Mon, 12/28/2009 - 18:40 | 176292 Anonymous
Anonymous's picture is like the Detroit of Zero Hedge domains.

Mon, 12/28/2009 - 18:47 | 176298 Hephasteus
Hephasteus's picture

Popularity of articles is going to be hard to come by. I just did a why does zero hedge rock search at google and got 1,300,000 hits.

Mon, 12/28/2009 - 18:55 | 176302 geopol
geopol's picture

Zero Hedge is just a thought, a whisper, an idea, in a world not kind to freedom of expression, let's make it TBTF..

Mon, 12/28/2009 - 19:03 | 176306 MiningJunkie
MiningJunkie's picture

How come you guys have not yet been shut down by the bad guys from Treasury (T-Men) or the Fed (F-Men) or the current Administration (O-Men)? I am from Canada so this post means dick - however - I am indeed curious. After all, I am a C-Man...

Mon, 12/28/2009 - 21:19 | 176410 Argos
Argos's picture

The U.S. government is not that efficient.

Mon, 12/28/2009 - 19:05 | 176308 Anonymous
Anonymous's picture

Cheers! To tyler, marla, and the rest of the irregulars here; I came across you shortly after the march 09 stock market shenanigans began, and you are near the top of my rss list to this day!

Mon, 12/28/2009 - 19:05 | 176309 fuu
fuu's picture

Thanks for feeding my head.

Mon, 12/28/2009 - 19:14 | 176312 putbuyer
putbuyer's picture

ZH is the site I visit the most. The rusty ships story scared the shit out of me and I have never stopped talking about it. The

article was jaw dropping and having my first ham for Christmas (we have always eaten cod fish), and being in the Hamptons talking to my banker relative - he knew about this, I was suprised.

I visit ZH for the truth. You guys are the best.



Tue, 12/29/2009 - 12:02 | 176722 nicholsong
nicholsong's picture

If you like rusting ships, you'll love the 26 Mile Long Glut of Idle Oil Tankers

Mon, 12/28/2009 - 19:16 | 176313 Anonymous
Anonymous's picture

I agree with several of the previous comments. Your work is not only important, it is critical to free speech and
free flowing of the "unspeakable" truth. Your use of graphs, charts and raw data speak volumes against the Government and Media hype and nonsense.

Keep it coming in 2010.

Mon, 12/28/2009 - 19:24 | 176317 Atoyota
Atoyota's picture

I'm a very recent reader of ZH

I must credit Karl Denninger and  maybe a couple other readers with the introduction. I am impressed with the well written intelligent content. Even so far as to link them to my facebook page.


Do not change a thing, this site is wonderful.



Mon, 12/28/2009 - 19:30 | 176321 Anonymous
Anonymous's picture

Sunday, December 27, 2009
2009: The Year Wall Street Bounced Back and Main Street Got Shafted

In September 2008, as the worst of the financial crisis engulfed Wall Street, George W. Bush issued a warning: "This sucker could go down." Around the same time, as Congress hashed out a bailout bill, New Hampshire Sen. Judd Gregg, the leading Republican negotiator of the bill, warned that "if we do not do this, the trauma, the chaos and the disruption to everyday Americans' lives will be overwhelming, and that's a price we can't afford to risk paying."

In less than a year, Wall Street was back. The five largest remaining banks are today larger, their executives and traders richer, their strategies of placing large bets with other people's money no less bold than before the meltdown. The possibility of new regulations emanating from Congress has barely inhibited the Street's exuberance.

But if 2009 has proved anything, it's that the bailout of Wall Street didn't trickle down to Main Street. Mortgage delinquencies continue to rise. Small businesses can't get credit. And people everywhere, it seems, are worried about losing their jobs. Wall Street is the only place where money is flowing and pay is escalating. Top executives and traders on the Street will soon be splitting about $25 billion in bonuses (despite Goldman Sachs' decision, made with an eye toward public relations, to defer bonuses for its 30 top players).
The year 2009 will be remembered as the year when Main Street got hit hard. Don't expect 2010 to be much better -- that is, if you live in the real economy. The administration is telling Americans that jobs will return next year, and we'll be in a recovery. I hope they're right. But I doubt it. Too many Americans have lost their jobs, incomes, homes and savings. That means most of us won't have the purchasing power to buy nearly all the goods and services the economy is capable of producing. And without enough demand, the economy can't get out of the doldrums.

Mon, 12/28/2009 - 19:33 | 176324 MsCreant
MsCreant's picture

OT, but not.

Here is a cute little muse story for the holiday season. Do you know this flavor?

Detained Americans had nuclear power site map, say Pakistan police

Police are trying to determine whether five Americans detained in Pakistan had planned to attack a complex that houses nuclear power facilities.

The young Muslim men, who are from the Washington DC area, were arrested in Pakistan earlier this month. Pakistani police and government officials have made a series of escalating and, at times, seemingly contradictory claims about the men's intentions. US officials have been far more cautious, but they, too, are looking at charging the men.

A Pakistani government official alleged on Saturday that the men had established contact with Taliban commanders and had planned to attack sites in Pakistan. Earlier, however, local police accused the five of intending to fight in Afghanistan after meeting militant leaders.

Mon, 12/28/2009 - 19:43 | 176337 anynonmous
anynonmous's picture

thanks for introducing us to David Rosenberg (I think)

Mon, 12/28/2009 - 19:51 | 176345 deadhead
deadhead's picture

Enjoy it while you can you little ZH phucks.

I'm going to give one of my biggest "fuck you" reamjobs to you and your servers as soon as I get things all lined up for health care, further bank bailouts, getting rid of that phucking squirrel geithner, getting our boy bernanke firmly ensconced in his 2nd term to drive the mid term election effort, my mossad buddies taking out that phuck in iran, my new strategy to get a 3rd war going on in yemen, invasion of pakistan, confiscation of nukes from pakistan, cap and trade for my buddy lloyd, the nobel for barry for economics, driving my foot up pelosi's ass til it really hurts, keeping the lid on that chicago thing with fruitcake boy blogo and the tapes, putting visine in summer's diet coke, the 4th stimulus bill and a few other things that i've got up my sleeve.

Until then, you Zero Headjobs keep pissing me off.

Fuck you.



Mon, 12/28/2009 - 20:57 | 176394 fiasco
fiasco's picture

iran is a peaceful country so i guess-a it's a target of the US

iran fully supports a jewish europe

yes, ahmadinejad is a buffoon but one man trying to pretend he runs a country is bound to look like a buffoon

no need to reply, i accept your apology for taking the mainstream media's interpretation of iran



Mon, 12/28/2009 - 21:23 | 176415 Windemup
Windemup's picture

You should be ashamed using Gerry Garcia's icon with such language and hatrid.


Mon, 12/28/2009 - 22:00 | 176445 deadhead
deadhead's picture

1. firstly, it is "jerry", not "gerry". i never criticize anybody's spelling on the internet but nobody who knows anything about the GD could possibly misspell Jerry's name.  And, the stealie was not his icon.

2. Jerry used the same "language".

3. I have no was a tongue in cheek on Rahm and the powers to be. I don't want to see anybody die unless it is from natural causes.



Mon, 12/28/2009 - 22:25 | 176459 fiasco
fiasco's picture

deadhead runs for the roses

so you ok with iran?

Mon, 12/28/2009 - 22:39 | 176465 deadhead
deadhead's picture

frankly, fiasco, most of your comments escape me. 

i have no idea what "runs for the roses" means.

i saw your assumption about mainstream media induced assessment of iran.

as to your question "so you ok with iran?", the best i will do for you is answer with a what the fuck.

i wish you only the best.

Mon, 12/28/2009 - 23:26 | 176498 fiasco
fiasco's picture

you have no idea?

a deadhead doesn't want to live and is chicken to die, so jerry say run for the roses

you accept my apology for missing your ironic piece. it's because i no speak too good english




Tue, 12/29/2009 - 13:52 | 176849 MsCreant
MsCreant's picture

We need more Rahm, along with Phil Grahm and Ben Dover. Put it to us Rahm.

Mon, 12/28/2009 - 19:52 | 176346 anynonmous
anynonmous's picture

and thanks for facilitating the assemblage of a collection of characters including but not limited to:

Cheeky B - (still seems to be recovering from his stint in a CIA interrogation center - I thought they banned WB)

Chumb... - though given his post the other day I will disavow any knowledge of his existence

Mayhem - for his lectures on conspiracy theory

M Creant - for being M Creant

Leo - who is a good guy who does great posts despite his DailyKOS like politics (must be the Greek in him)

Andy, Bruce and Robo - for their excellent commentaries

and of course the hosts of ZH

Mon, 12/28/2009 - 21:15 | 176407 Anonymous
Anonymous's picture

And get rid of this Fiasco/Mario goofball.

Mon, 12/28/2009 - 19:54 | 176348 deadhead
deadhead's picture


Mon, 12/28/2009 - 19:57 | 176354 Winisk
Winisk's picture

Good to see Sprott represented here.  He and Embry first opened my eyes to the bearish perspective which immediately struck a chord with me.  What a breath of fresh air that was.  From there it was a short hop to the gold bug sites, Denninger, and the edgy full menu offered by ZH and it's commenters.  I could never have imagined how fun it would be to read about the inner machinery of the economy that is set to blow apart.  I sort of feel like a kid who was raised by dysfunctional parents, not realizing how insane they were until someone else provided the perspective of what normal should look like.  That's how important sites like this are.  It's a touchstone of sanity in an insane world.

Mon, 12/28/2009 - 21:01 | 176399 fiasco
fiasco's picture

eh, bozo

if you invested with sprott and emery, you would have been crushed because they didn't think resources would fall with the financial meltdown.

the gold bugs have been wrong about gold stocks since 2003.  they never went up and they talk-a about the blow-off stage

when your grandmother take her pension to buy gold stocks

salt of the earth gold bugs!

Mon, 12/28/2009 - 21:33 | 176426 Anonymous
Anonymous's picture

fiasco, you are wrong in your facts. As someone who bought gold miners in 2002, I can assure you the gold stocks did not top until 2007-08. Not 2003 as you state.

Whether they make further highs from here, we'll have to wait and see.

Mon, 12/28/2009 - 20:05 | 176358 Sqworl
Sqworl's picture

My favorite:



Mon, 12/28/2009 - 20:22 | 176367 RockyRacoon
RockyRacoon's picture

Don't know what I'd do without the crew at ZH.  Learned a lot and have studied more than I did in college.  Of course, all would be for naught if the articles were any less technical than they need to be to get the point(s) across.  Don't dumb-down anything.  If I, as a reader, cannot understand it then I need to.  Just because.

As for the comments, they are the best around.  Lots of new and supplemental information to search out.  Just now I was looking into the Arrow Trucking thing.  Just amazing and sad.  Those are families who are left stranded, not just drivers.  Not to mention the goods that were bought and paid for left abandoned.

I won't call out any of the commenters -- don't want to give you folks a case of the swell-head.  Very few junk posts are found here, and they don't last long as commenters.

Thanks to you all -- and a better year ahead.

Buy silver and gold!

Mon, 12/28/2009 - 20:22 | 176368 Anonymous
Anonymous's picture

How is the decade not over with the end of 2009??

Of course it is.

The '00s will be over. 2000 thru 2009 = 1 decade.

Starting 1/1/10, we will have a new decade: the '10s.

You just had to ruin it for the entire year, didn't you, Marla.

Perhaps you can redeem yourself near the end of 2019.

Until then, I will remain extremely disappointed. I may even demand a full refund....

Mon, 12/28/2009 - 20:27 | 176373 fiasco
fiasco's picture


when your body wants to laugh it goes to see a funny movie

when it wants to cry it goes to see a drama

when it needs to purge feelings of guilt, it goes to church

and now whatever the body needs to purge, it can go to the internet

the internet is a purging machine


what did you do?

you make-a me mad and cause me to raise my voice and now the bambino is waking up

you are purging your frustration

this is a redirection of intensities to stop action in the technological empire

be a man and act or be a pussy and log on

Tue, 12/29/2009 - 00:27 | 176512 TumblingDice
TumblingDice's picture

The downtick today was caused by the masters of the universe selling some spoos to place an extra order of the internets for you to quell (purge? that is impossible) your disproportionate anger.

What kind of action are you talking about?

If you are dumb enough to think that his battle will be won with torches and pitchforks then by all means put that theory into practice first.

If you want entertainment, then watch CNBC.

If you tired of hearing the bad news and need therapy, then meditate or find a therapist.


If you think that the solution lies in the Truth, sound reason, education, and citizen action then you go to Zero Hedge.

Tue, 12/29/2009 - 01:42 | 176540 fiasco
fiasco's picture

"the Truth, sound reason, education, and citizen action then you go to Zero Hedge"

bad news for you.  the zh manifesto say nothing about Truth and citizen action

zh are-a good anarchists that want-a liberate information.  that's crazy stuff no doubt so forget that last line

but citizen action is crazier

you-a mind equates your well-being with the truth.  nietzsche say you need a therapist

Tue, 12/29/2009 - 03:59 | 176568 TumblingDice
TumblingDice's picture

Citizen action does not have to be crazy. It can be a simple thing like voting for the right person, done enough times. Seeing by your tone and previous posts you might mean to equate citizen action with violence, in which case I stand by my remark and call such a viewpoint stupid. Violence is only the answer when survival is the question. Not only that, but it is also very unlikely to work, even if it is successful.

I cannot define something that I can only approach, truth, so in the same way, I cannot equate anything with truth either. And not only that but I distinctly separated therapy from Zero Hedge (which I think is congruent with the truth), so I can't see how you came that conclusion.

Anyways, I find that most of your posts that I have seen are filled with anger, bitterness and provocation. Maybe you mean well but these emotions are not helpful to the purpose of this site, which, to my best knowledge, is to use liberated information to educate people to do well for themselves by voting better with both their dollars and their ballots.

Tue, 12/29/2009 - 11:51 | 176710 Anonymous
Anonymous's picture

By your logic the Founding Fathers were stupid. That makes you stupid.

Tue, 12/29/2009 - 20:39 | 177299 TumblingDice
TumblingDice's picture

Interesting point.

My logic does not lead to that though. The founding fathers did not equate citizen action with violence. They used violence as a last resort when the possibility for such citizen action as using representation in government was lost.

...And even if it did, an argument can be made that in the long term, their solution did not work either, since we have become an evil empire ourselves.

Tue, 12/29/2009 - 22:21 | 177376 Anonymous
Anonymous's picture

The serfs here in the 1770's were not citizens. They became citizens once the government was under their control, by force of arms. As in, firearms. If the government isn't for the citizens then it isn't for the citizens. That means quartering of soldiers (and your wife gets raped after dinner, how nice), no right to a lawyer, no right to remain silent, shiiiiiiiit, I ain't even talked 'bout the right to bear arms or freedom to say: 'fuck you, Dodd n' Pelosi!'

Ya think we're still citizens?

United We stand, divided We fall. Pull your head out.

As deadhead would say, "I wish you the best".

Tue, 12/29/2009 - 07:38 | 176595 Anonymous
Anonymous's picture

The communist manifesto says nothing about enriching bankers, but trust me its implied not stated.

You log on ... so you're a ... just using logic here.

The mind does not equate well-being with the truth, you mindful dolt, the SPIRIT equates well-being with the truth!
Seek the truth, know the truth and the truth shall set you free, every time.

Nietzsche, I'm quite certain, never advocated therapy - why lie? What purpose does it serve you? Please enlighten the rest of us

Tue, 12/29/2009 - 10:16 | 176640 fiasco
fiasco's picture

you want to meet outside of il dolce coffee shop tough guy

hey nietzsche, you think this guy should go to therapy because he use big letters for the stupido word spirit?

he said yes

and he give you the finger

sometime he babysit the bambino, he calls him his little ubermensch 

the zh manifesto is not the communist manifesto, as much as you like it to be

and the zh manifesto is anarchist.  sorry for you and the GHOST you believe in



Mon, 12/28/2009 - 20:28 | 176376 Hesperus
Hesperus's picture

Major kudos to all at ZH and to many of the frequent commenters from one of ZH's many silent readers.  These past 11 months have been an incredible education and an eye opening experience.  The documents you are able to present and the fact-based analysis is far beyond what's normally available in the blogosphere and on a par with my list of  the "best of the best" analysts (Rosenberg, Pomboy, Coxe et al).

Many of your "third party" contributors are not at the level of ZH original material.  Hopefully you will maintain the implied ZH "brand promise" and not further devolve in the contributor posts to a "Seeking Alpha" clone, overweighted with people "talking up their own book" or just pontificating without solid factual support.  Better screening or voting tools should help.

Congratulations to all!  Looking forward to even more in 2010.

Mon, 12/28/2009 - 21:25 | 176385 anynonmous
anynonmous's picture

in the course of any given day there are probably a couple of dozen good links that end up getting buried in comment sections of the various posts (often they are off topic yet they are worthwhile)

a suggestion - if ZH could provide a place to share links to articles / sites of interest other than under the various posts I think that would be great e.g. the link below to the exploding underwear

Mon, 12/28/2009 - 20:47 | 176388 anynonmous
anynonmous's picture

From ABC news

EXCLUSIVE: Photos of the Northwest Airlines Bomb

Mon, 12/28/2009 - 21:07 | 176401 Anonymous
Anonymous's picture

Sunlight IS the greatest disinfectant, so I applaud you, but I too wonder if/when the government will in one way or the other shut down this and other similar sites.

Mon, 12/28/2009 - 21:11 | 176403 vanderrook
vanderrook's picture

The second I stumbled onto your site like a drunken mountebank (because I'm a mountebank, and I was drunk), I knew I was home.

I relive this anniversary every day by coming to this site- and being drunk.

No, not really....sometimes I'm stoned...

This is, hands down, one of the best sites for financial and market info- REAL info.

Mon, 12/28/2009 - 21:25 | 176416 Anonymous
Anonymous's picture

I learned of your website through Matt Taibbi's writing. I appreciate the quantity, quality, and depth of the articles your provide. You do a great job.

Mon, 12/28/2009 - 21:29 | 176419 Anonymous
Anonymous's picture

And thanks for all the anonymous comments - especially Generalissimo Tyler

Tue, 12/29/2009 - 22:57 | 176422 heatbarrier
heatbarrier's picture

Look ! There's Tyler with the ZHedgers, standing like a stone wall !  

Zero Hedge, you ARE The First Brigade! Godspeed!

Mon, 12/28/2009 - 22:03 | 176448 MarcoPolo
MarcoPolo's picture

I am astonished at what you've been able to accomplish in <1yr. Making asymmetrical info flows (hft) an issue being an important one. Subscribe via rss & ignore comments generally. Too little value there - as is perhaps the case with this one. And the best thing you've done is DARPA. No change is coming top down. Solutions will be bottom up. Best wishes for a prosperous and successful 2010

Mon, 12/28/2009 - 22:29 | 176460 Anonymous
Anonymous's picture

Lots of value in both commentary from contributors and from comments here. I have watched this blog grow over 2009 and I have much to say, but I have yet to comment here. This changes now. Yes, I expect the commentary to expose what has been.
Much more important is exposing what will be. Where do I begin?
Enjoy the new Year!

Mon, 12/28/2009 - 22:37 | 176464 lynnybee
lynnybee's picture

Yes.    I read ZEROHEDGE.    You know this website is doing everything right when a 59-year-old grandma from the midwest must read her ZEROHEDGE every day to get the truth.    Thank you, for educating me.    Sincerely .........

Tue, 12/29/2009 - 01:34 | 176538 Anonymous
Anonymous's picture

What a coincidence! Happy Holidays from your counterpart in NYC, and thank you to ZH, I'm their addict.

Mon, 12/28/2009 - 23:04 | 176486 Anonymous
Anonymous's picture

ZH you are not in the top ten in finance blogs, you are in the top five. I agree with many others that reading your material has given me an excellent education in this area in the last year. You may not have been the first on every big story, but your coverage is always among the best. As another already mentioned, please source your material carefully to maintain the high standards of accuracy and detail that you are now famous for.

Mon, 12/28/2009 - 23:06 | 176488 Anonymous
Anonymous's picture

ZEROHEDGE has become my number one/first-load web site in the last couple of months (after checking currency and gold prices), thanks for the amazing work!

Mon, 12/28/2009 - 23:51 | 176504 Anonymous
Anonymous's picture

I've been reading you a long time - but recently when I was speaking to my hubby about you he said he was no longer reading you - too busy reading too much else - (Mike Hudson, Mish, Nathan Martin, itulip, and all his market analysts I don't even know) hmmmm. I sent him something I had just read on your site - and he said "oh. that's good. maybe I need to go back." LOL

You're still in my top five with Nathan, Karl, naked capitalism and Mish.

Thing is, there is so much that is wrong that it's hard to figure out what to do to make anything right anymore.

Since the agencies are now all run by the industries they are supposed to be regulating, it's not hard to figure out why we cannot find any source for real information inside anything considered part of 'the system' - it's like asking the fox not only to guard the hen house but to provide the weekly updates on the state of the chicken farm...

So, while I find myself increasingly despondent about what is going on out there - I'm still glad you are here to tell the truth - I just wish I could find a way to feel as if there was some place positive to take it all...

but thanks for being here.

And no, please don't do some lame girls of finance crap. exploit the guys for a change if you must go that route - but it would be SO much better to do something really ELSE than that. Yeah yeah yeah girls are to look good and guys are to be strong and brave. really? REALLY??? Or maybe I'm just getting tired and the earlier comment was a spoof.

Tue, 12/29/2009 - 09:12 | 176617 JR
JR's picture

it's like asking the fox not only to guard the hen house but to provide the weekly updates on the state of the chicken farm...  Priceless! A P.J. O'Rourke!

Tue, 12/29/2009 - 00:47 | 176511 Kayman
Kayman's picture

Thank you Tyler and Marla:

1. After I got my sea legs back, I discovered Zero Hedge. Now I get Macro information found nowhere else.

2. Don't rebut Goldman, but rebuke them anytime.

3. Janet Tavakoli is hot.

4. Yes, more discussion about solutions (see below)

It has been said:

There are those that make it happen

There are those that watch it happen

And there are those that wonder what happened.

Let us all try     making it happen.


As far as the wisdom of Gold, it seemed to be little publicized that Barrick Gold wiped out its entire equity by hedging their gold position(s).

And there is a good question in the Arrow Trucking "bankruptcy" ?  Who(m) is/are their financiers ?


Happy New Year !  Including all you FA's (Fearless Anonymous)

Tue, 12/29/2009 - 03:57 | 176514 TumblingDice
TumblingDice's picture

My college textbooks couldn't hold a candle to the material here.

Thank you Zero Hedge and Happy New Year.

Tue, 12/29/2009 - 09:45 | 176518 JR
JR's picture

Zero Hedge runs in front of the pack. Happy New Year, young 'un.

Tue, 12/29/2009 - 01:05 | 176523 digalert
digalert's picture

Keep up the good work ZH, you're providing a sorely lacking service today, honest journalism. thank you

Tue, 12/29/2009 - 01:19 | 176532 SilverIsKing
SilverIsKing's picture

ZH is awesome for sure but I rue the day when I go to ZH and get a 'site down' message due to an 'unfortunate technical incident.'  What's the back up plan?  Is there another URL and server ready to go if this one gets blown up?  www.???????.com?

Thank you TD, MS, et al and have a very Happy New Year!

Tue, 12/29/2009 - 01:50 | 176544 Grace
Grace's picture

I'm not a finance person (shocking.)

I spent my career building web sites and working hard to make them relivant & popular. (Boring.)

Since Netscape 1.0, in something like 1994, I have never seen a phenom like 0Hedge. (Google grovels at your feet.)

Not only have you - in less than 2 years, defied every benchmark I ever measured a site against - you also changed my view of reality, of life, of meaning, and Truth.

Not to mention the basis of conversation across the MSM, in coffee houses worldwide, and among the previously "unwashed" sheeple.

You WILL go down in the Saga of American history, alongside the like of Jefferson and Franklin. You are Poor Richard and the Federalist Papers for the 21st century.You are the Cato of our generation (and we need you as much, if not more than they needed Him!)

Thank You.

Do NOT stop, buckle, or bend. You only get one chance (most of us never get it at this level) to be THIS relivant, timely, and necessary to a greater cause. This is your moment. Give it.




Tue, 12/29/2009 - 08:05 | 176602 Anonymous
Anonymous's picture

Perhaps you'd like a napkin to wipe the shit from your lips?


Tue, 12/29/2009 - 11:49 | 176707 Anonymous
Anonymous's picture

Make that the Anti-Fed papers. Otherwise well put. Bob needs to learn some manners - wait, Bob needs to be taken behind the woodshed.

Tue, 12/29/2009 - 02:49 | 176553 Anonymous
Anonymous's picture


Tue, 12/29/2009 - 03:06 | 176556 Rick64
Rick64's picture

Thank you for an intelligent alternative vs. the talking heads.

Tue, 12/29/2009 - 03:20 | 176561 Anonymous
Anonymous's picture

Don't forget Zero Radio, Rock on for 2010........

Tue, 12/29/2009 - 04:32 | 176578 Stevm30
Stevm30's picture

Wall Street Journal says Fed proposes tool to drain cash - a FED cd for banks... awww how cute!  It's called a Treasury bill Bernanke you dumbass! 

So let me get this straight... we need to give banks money for their shit assets, in order TO SAVE THE SYSTEM!  Then... we need to offer them a lot of money for free... TO SAVE THE SYSTEM!  Then... we need to pay banks to hold that money in their vaults TO SAVE THE SYSTEM!

Anyone else getting dizzy with that logic? 

Tue, 12/29/2009 - 05:10 | 176581 Louise1
Louise1's picture

All day, every day.


you are my heros


thank you

Tue, 12/29/2009 - 05:18 | 176583 Anonymous
Anonymous's picture

The banks get the money. The people get the debt.
You missed this? It's in the fine print:

1. Loan Mods that do not write down principal balances, instead add a 10 year interset only period before swapping out for a fixed rate 4.75 - whatever the newest going rate will be when they get done with the program - means a house worth 200k today and with a 480k loan (this is an actual common example in my world) will pay approximately 500,000 more for the same property were they to sell the house and buy one at current market. So the loan modificantion program 'allows' the homeowner to pay an additiona half million dollars for priviledge of owning a home purchased during the control fraud bubble of the housing market versus dumping that house and buying one at current market they could afford. Sweet!

2. Short sales are now considered 'strategic default' and thus bar borrowers who do so from FHA financing for longer terms, unless they have suffered 'death of a primary wage earner' or 'extended uninsured illness' of the primary wage earner - no job loss is mentioned in the new rules...

3. New credit card legislation does not put a cap on interest rates to be charged - (wasn't that the point of the bill?)

If you haven't figured out what debt peonage is - and you haven't read Michael Hudson, then you haven't got it yet - the banks own the world, the people pay the banks to live.

Thanks zero hedge for being the hub to bring some of the more important pieces to the forefront. Now let's keep going.

Tue, 12/29/2009 - 05:58 | 176586 Anonymous
Anonymous's picture

hey marla, best wishes
missing posts on H1N1 - please make our days :))
thank you

Tue, 12/29/2009 - 08:53 | 176611 Anonymous
Anonymous's picture

Sex sells!

Tue, 12/29/2009 - 09:00 | 176613 johnny9iron
johnny9iron's picture

I never look at the pictures in ZH, I only read the articles.

Tue, 12/29/2009 - 09:06 | 176615 Anonymous
Anonymous's picture

looking forward to 2010 - when everything you have been writing, warning and keeping us amused will come to a head.


Tue, 12/29/2009 - 10:41 | 176654 Brother Revegen...
Brother Revegend Magoun's picture

Great job, Zero Hedge! my favorite site for today)

Tue, 12/29/2009 - 10:47 | 176657 BoyChristmas
BoyChristmas's picture

ZH, when the Feds/GS Mercs come, you can always crash at my place.

Tue, 12/29/2009 - 11:36 | 176694 AmenRa
AmenRa's picture

ZH is a must read!!! Thanks to you NASDAQ just stopped offering pre market and after hours quotes on the SPY. Bravo!!! Let the manipulations begin! LOL

No, really I've found myself looking for sources and explanations to better understand some topics. You can't find info this good in textbooks.

Tue, 12/29/2009 - 12:14 | 176738 Lndmvr
Lndmvr's picture

Just a note on Arrow Trucking. I drove for them in 2001. First thing noticed was the quality of trainees. Face piercings, over 300lbs, etc. My training month was an exercise in trying not to jump out of the truck somewhere near to someone I knew so I wasn't stranded, seems the trainers had a running bet how many they could get to quit. Many new drivers wrecked thier trucks within the first month, over speed into turns, not being able to judge a turn in a damn truck stop for Christs sake! The money promise turned into a joke. I left after sitting 3 days in a parking lot only to have to run 28 days before seeing home. Most disgruntled drivers trashed the inside of thier trucks, crapped on the drivers seat, and bought thier own ticket home. The company had a crew just to go get these abandoned trucks. I would love to see a column hear concerning the problems of trucking companies. Drivers sitting in a stop with internet would give an earful.

Tue, 12/29/2009 - 21:11 | 177333 Sasquatch
Sasquatch's picture

Thank you, ZH, for a great year amidst a crap year.

Please don't dumb-down the posts - if I, or anybody else, can't understand them, then it's a good reason for a learning experience.

As for personal favorites...well, I have enjoyed the hell out of the perpetual badgering of both GS and CNBC...the pieces and the running commentary have been a bright spot all year long!

Keep up the good work!

Wed, 12/30/2009 - 00:00 | 177452 elfuturo
elfuturo's picture

Fuck Conflicts of Interest!

For conflict free financial transactions:

Wed, 12/30/2009 - 07:06 | 177566 agrotera
agrotera's picture

love ya love ya love ya!!!

Sun, 03/07/2010 - 03:42 | 256729 qqqqtrader
qqqqtrader's picture

Cruising through old posts ...

Thanks ZH crew for the great work you do!

Wish I had more time to read it ALL.




Do NOT follow this link or you will be banned from the site!