Household Deleveraging Continues As Net Worth Jumps On Stock Market Gains; UBS Sees Stagflation Coming As Real Estate Values Drop To Q4 2003 Levels

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Thu, 03/10/2011 - 16:14 | 1037720 bob_dabolina
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Tim Geithner sucks

Thu, 03/10/2011 - 16:35 | 1037803 william the bastard
william the bastard's picture

How do you know?

Thu, 03/10/2011 - 16:41 | 1037825 malikai
malikai's picture

Geithner sucks, everybody else gets to swallow it.

Thu, 03/10/2011 - 17:06 | 1037924 covert
covert's picture

ride the wave to the end of the bubble then shortsell to rip off all the suckers. then hide it all well to escape envy.


Thu, 03/10/2011 - 16:16 | 1037722 edotabin
edotabin's picture

The property double-dip really looking like a fact while stocks just getting pumped, pumped and pumped! Let's see when that's gonna pop....

Thu, 03/10/2011 - 16:17 | 1037726 Caviar Emptor
Caviar Emptor's picture

Too bad for Benny Boy the psychology of the "wealth effect" has changed since 2008: consumers are simply not as ready to spend. They need the money to cover infaltion in the cost of living in the real world, not the Fed's fantasy

Thu, 03/10/2011 - 16:30 | 1037727 TruthInSunshine
TruthInSunshine's picture

We're about to find out how loyal hungry dogs really are.


The Bernank's "virtuous circle" tagline (virtuous circle®) is about ready to boomerang and decapitate him, sharp side inward.


"Virtuous circle" is destined as a historical slogan that will come to be associated with "epic failure."

Something along the lines of "permanent plateau"......

The Bernank spent 12 trillion in OPM and all he has to show for it is a worsening American and global economy (and a plush little most favored segment of the economy over on Manhattan).

Thu, 03/10/2011 - 16:20 | 1037745 NOTW777
NOTW777's picture

wheat getting clobbered; dxy continues to hum

Thu, 03/10/2011 - 16:34 | 1037798 william the bastard
william the bastard's picture

Price of beer gonna be dear.

Thu, 03/10/2011 - 17:34 | 1038022 CrazyCooter
CrazyCooter's picture

Actually, a 12 pack of cheap-o beer in the cans with paperboard packing is the ideal poor mans inflation index:

  • Poor alcoholics will buy the *cheapest* shit they can find, thus are very price sensative. Margins are usually low and fixed.
  • Aluminum is a core industrial metal
  • Energy to heat/brew
  • Fuel to transport the beer (its not light in weight!)
  • Cost of clean water
  • Cost of paper packaging

I would love to see the wholesalers price of a 12 pack of natural light or keystone or old milwaukees best for the last ten years or so.

Anyway, pick a brand and keep an eye on it in your local store and you too can see the train a'comin!


Thu, 03/10/2011 - 16:23 | 1037750 buzzsaw99
buzzsaw99's picture

joo bankers don't eat pork because that would be cannibalism.

Thu, 03/10/2011 - 16:48 | 1037850 squexx
squexx's picture

A funny thing I like to do is to take pork products like ham and leave them in the Kosher section at grocery stores. Nothing funny than reminding the Satanic Tribe what they are!

Thu, 03/10/2011 - 16:24 | 1037754 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

I can't wait till the McMansions are at Q4 1973 Levels!

It will happen, just wait...

Thu, 03/10/2011 - 16:26 | 1037766 Caviar Emptor
Caviar Emptor's picture

Saudi unrest could tip the apple cart. Poor lemmings!

Thu, 03/10/2011 - 16:26 | 1037774 Archimedes
Archimedes's picture

I just took off my Dow 12K hat and replaced it with my Dow 11K hat.

Soon to be followed by Dow 10K hat, 9K hat, 8K hat.....

Thu, 03/10/2011 - 16:33 | 1037792 william the bastard
william the bastard's picture

Can't but the dip until you end the slip.

Thu, 03/10/2011 - 16:26 | 1037777 jus_lite_reading
jus_lite_reading's picture

Stop bitching! Don't worry! The worlds richest BILLIONAIRES just got a whole lot richer! $1 TRILLION RICHER!

YEE HAW! Trickle down is working wonders! Thank you BEnron! Keep pumping billions into the stock markets! It's creating JOBS!..






Thu, 03/10/2011 - 16:28 | 1037779 The Axe
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Fawn Hill, Harding NJ   listed at 22 million sold at auction 6.7 housing is getting much better...

Thu, 03/10/2011 - 16:28 | 1037782 Seasmoke
Seasmoke's picture

would have went for $21 million, but those NJ property taxes are a BITCH

Thu, 03/10/2011 - 16:54 | 1037867 kaiserhoff
kaiserhoff's picture

Something in Joisy is worth 6.7 mil?  Must be rumors of buried gold, or the bones of Jimmy Hoffa.  Sure as hell ain't the 'hoes.

Thu, 03/10/2011 - 16:32 | 1037786 Johnny Lawrence
Johnny Lawrence's picture

Why do we sometimes rip the big banks for their research and then sometimes use their reports to support our previously established opinions (i.e. UBS)?  Fuck them.

I work at UBS.  Their macro research is so bullish it might as well have sugar sprinkled on it.

Thu, 03/10/2011 - 16:29 | 1037787 Caviar Emptor
Caviar Emptor's picture

Fed could announce a new facility: oil sheik and dictator-backed liquidity facility

Thu, 03/10/2011 - 16:33 | 1037797 fragrantdingleberry
fragrantdingleberry's picture

We are in a bull market and you suckers are missing it. BTFD.

Thu, 03/10/2011 - 16:33 | 1037799 NOTW777
NOTW777's picture

day of rage (pick ur location madison or SAUD) will be excuse for QE3;

bill p will announce back in (of course after a 2-3 wk frontrun)

Thu, 03/10/2011 - 16:37 | 1037809 william the bastard
william the bastard's picture

Al Jazeera has been suffering interference on its Arabsat satellite frequency. During jamming Al Jazeera English can be watched on Hotbird 13E Frequency: 11034 Vertical FEC

Thu, 03/10/2011 - 16:42 | 1037823 TruthInSunshine
TruthInSunshine's picture

Days of Rage in Camden, Charlotte, Detroit, Sacramento, Memphis, Cleveland, Atlanta, Chicago, Philly, Miami, St. Louis...etc...soon?

The Bernank assaulted by angry throngs losing homes and jobs, shouting "Bitch better have my money!"



Thu, 03/10/2011 - 16:41 | 1037824 max2205
max2205's picture

The Fed has all these charts....Who, in the Fed, actually reads them and tells someone to hit the brakes or hit the gas.....silo management

Thu, 03/10/2011 - 16:42 | 1037831 NOTW777
NOTW777's picture

great news - only rubber bullets used how nice

Thu, 03/10/2011 - 16:43 | 1037836 NOTW777
NOTW777's picture

euro looking waterfallish

Thu, 03/10/2011 - 16:45 | 1037839 stormsailor
stormsailor's picture

WASHINGTON, D.C. -- A months-long investigation into abusive mortgage practices by the Federal Reserve found no wrongful foreclosures, members of the Fed's Consumer Advisory Council said Thursday.

Thu, 03/10/2011 - 16:52 | 1037862 Yen Cross
Yen Cross's picture


Thu, 03/10/2011 - 18:23 | 1038228 TeresaE
TeresaE's picture

BTFD.  DMMFL (don't make me fucking laugh).

I knew a CPA turned recruiter in the late 90s.

He believed in the dotcom bubble like no tomorrow.

Of course, the fact he was making a cool half-mil a year selling employees to companies was flavorning his world.

One drunk night at a company party, we were talking about the economy, China, etc.

He said, BTFD.

I said, "Ryan, come the fuck on.  You know this gravy job is going bye-bye after Y2K right? You know that paying high dollars for low/no performing companies isn't investing, it's speculation, really gambling, don't you?"


"No way, the world has changed, things are different now."

He ignored the fact that the following year millions of highly trained and educated would be out of their high-paying jobs, and that our federal taxes were scheduled to go up. And he firmly believed that these things wouldn't hurt our economy because "it was different this time."

Oops.  He went from net worth of nearly $10 million, to net worth of less than $500,000.  And his income quartered.

Flash forward eight years to the housing crash, lather, rinse, repeat. I heard through the grapevine that he lost his ass in housing too.

There is not much real wealth production left anymore.  Tech was a bubble and after it popped the industry offshored the repeat work.  Housing bubble and it ain't coming back.

In my mind, BTFD = KYFMG (kiss your fucking money goodbye).

Best of luck to the Rosy-Optimist's Club.

Thu, 03/10/2011 - 19:31 | 1038599 TruthInSunshine
TruthInSunshine's picture

You're spot on, TE.

Thu, 03/10/2011 - 19:36 | 1038622 ebworthen
ebworthen's picture


Good to see you, and I agree completely.

Thu, 03/10/2011 - 19:43 | 1038671 Don Birnam
Don Birnam's picture

"Things are different now."

Belief in this fallacy has been the ruin of many, back to the days even before the Semper Augustus tulip bulb was the investment du jour. Your last couple of paragraphs nailed it, Teresa. Frankly, nothing is coming back, for a very, very long time.

Thu, 03/10/2011 - 19:31 | 1038600 tom
tom's picture

Remember that "household net worth" as the Fed defines it includes domestic hedge funds, which account for the lion's share of reported "household" capital gains on equities.

Thu, 03/10/2011 - 19:32 | 1038607 ebworthen
ebworthen's picture


Compare DOW/GLD

Almost a direct inverse trade daily since Feb. 18th.


Fri, 03/11/2011 - 00:52 | 1039552 arun 1
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