Must Read Introspective: A Look Back At 2010 Events, Key Market Themes And The Circular Nature Of Everything

Tyler Durden's picture

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Azwethinkweiz's picture

Double double (dip) bitchez


animal style!

Trimmed Hedge's picture

Lesson from 2010: Buy the effin' dip!!

jeff montanye's picture

not in bonds: sell the top (late august).  what's that you say?  does the bond market lead the stock market?  at times.

e_goldstein's picture

Buy the EFFIN' dip, douchbags...

all of western civilization hangs on You, buying the dip.

btw, merry fucking christmas everyone.

Cursive's picture

blue pill >>>>>>>>>>>> red pill

   beta   >>>>>>>>>>>> alpha

    now   >>>>>>>>>>>> later

Red Neck Repugnicant's picture


Obviously, the biggest story of 2010 is my amazing ability to predict market movements, often in the face of severe ridicule and opposition.  You don't understand how much courage it takes to post my thoughts around here, as I get junked into the stratosphere on a daily basis. There is only one other Man in human history that has faced as much oppression as me, and His enduring spirit gives me great strength. If I must wear the crown of thorns in the ZH community then I will, but just remember the holy words of Ephesians 4:31-32:

Let all bitterness and wrath and anger and clamor and slander be put away from you, along with all malice. Be kind to one another, tenderhearted, forgiving one another, as God in Christ forgave you.

The second biggest story of 2010 is one that touches many of the readers here at ZeroHedge:  The Glenn Beck/Goldline Fraud.  Since many of you are passionate Glenn Beck supporters, I can only hope that you haven't been victimized by this media wing-nut with crocodile tears.  While everyone understands and accepts that QE2 was the work of American Unions, not everyone understands the lunacy of buying a 20 franc French rooster (Goldline's most popular coin) at 200% market value.   

This past summer, Business Insider did some investigative work into Glenn Beck that deserves accolades from the Scripps Foundation.

Rather than giving a synopsis of the crime, here is a link to an easy-to-read flow chart on how the scam works:

Faith/Family/Flag 2012


Burnbright's picture

Rather than giving a synopsis of the crime, here is a link to an easy-to-read flow chart on how the scam works:

Very nice touch of satire their. 

Chappaquiddick's picture

Faux (**cough**  **cough**) - Happy Birthday.   +1

nmewn's picture

"If I must wear the crown of thorns in the ZH community then I will,..." 

Appointing yourself messiah status amongst the statist faithful who post here at ZH?...LOL.

They will approach the ACLU and sue you to have those praying to you stopped...then there is the other alternative.

Good luck with that ;-)


Black Friday's picture


You Sir Redneck, have just won the intrawebz with this most awesomely and ultimate post of utter trollification I have ever seen.

RockyRacoon's picture

It appears that the wheels have come off his chariot.

ZeroPower's picture

beta   >>>>>>>>>>>> alpha

What? Beta is 'better' than alpha??

Milton Waddams's picture

Sung to the tune of Piano Man

It's eight o'clock on a Monday,
the Wall Street crowd shuffles in.
There's a banker sitting next to me,
makin' love to his TARP and economic spin.

He says Ben, can you blow me a bubble?
I'm certain your academic training knows how it goes.
But it must be enormous and hazardous and I knew it complete,
When Greenspan was at the controls.

Huff huff hufffff puff puff puffffff
Huff Huffffff puff puff puff pufffff

Blow us a bubble, you're The Bernanke, man.
Blow it for us right now.
We're all in the mood for record bonuses,
and you've certainly got us kowtowed.

Now Tim at the Treasury is a friend of mine.
His endorsement allows me to issue money for free.
And he's quick with the cash or to help you evade your tax,
but there's someplace that he'd rather be.

He says, Ben, if I had a conscious it'd be killing me,
as the frown ran away from his face.
Well I'm sure I could be an oligarch,
if I could get to seriously looting this place.

Huff huff hufffff puff puff puffffff
Huff Huffffff puff puff puff pufffff

Now Lloyd is a CEO of an investment bank,
who is doing god's work for life.
And he's talking with Bernie, who is in the clink,
and probably will be until he fake dies.

And the unemployed are watching D-list celebrities dance,
as the small business man struggles for a loan.
Yes they're sharing in the gutting of the middle class,
but it's better than suffering alone.

Blow us a bubble, you're The Bernanke, man.
Blow it for us right now.
We're all in the mood for record bonuses,
and you've certainly got us kowtowed.

It's a pretty good rally for a Monday morning,
and the SEC gives me a smile.
Cause it knows that it's me that issues money for free,
to paper over the depression for a while.

And the money printer,
it churns into the midnight hour.
As the bond vigilantes respond with ire.
And they trade their paper regardless,
as they continue to extoll my great power.

Huff huff hufffff puff puff puffffff
Huff Huffffff puff puff puff pufffff

Blow us a bubble, you're The Bernanke, man.
Blow it for us right now.
We're all in the mood for record bonuses,
and you've certainly got us kowtowed.

homersimpson's picture

I think more appropriate songs would've been "I go to Extremes," "Pressure," or "Big Shot." Nevertheless, good job, tho'...

Caviar Emptor's picture

Great. Another appropriate tune for the Bernank: "(You take my) self-control" 


duo's picture

Ben Bernank lies in bed looking at a ceiling fan.....

Whop whop whop whop whop whop

[Doors guitar licks play]

"Extend and pretend,

my only friend, extend"

westboundnup's picture

LATOC discussion forum (Doomers) gives up the ghost.  Aside from ZH, anyone have any forums they'd recommend?

jeff montanye's picture

there's a list to the left.  imo jesse's is great.  john hussman is too (he's not there because he runs money on his site, sort of).

westboundnup's picture

Thanks.  I should have seen it before.

Brindle702's picture

I can't believe he would rather do astrology.  A shame really.  His aggregation of news was a thing of beauty.

homersimpson's picture

I'm sure Robo, Harry, Trimmed Hedge, and other hopium addicts got a hard on reading the section after "But as I look back to 12/09 is see headlines"..

If you're blind enough to really believe the economy is getting better just because of some overly-manipulated stock market number, you're probably dumb enough to believe Blankfein is doing God's work.

It took 4 over years for the market to rise from 10k to about 14k... and only 9 months to drop back down to 6500.

In other words, economic recovery my arse. I never heard of economic recoveries requiring 24/7 money printing and trillions of deficit dollars.

Trimmed Hedge's picture

I'm doing fine, shrug.

In fact, my net worth is hovering around all-time highs. I guess I have hard work and foresight to thank for that, at least in part.


You know, it's almost comical, but many here know exactly what's going on (e.g., Benny printing 24/7 to fill that black hole) -- yet many here also refuse to profit it from it due to blinders, stubborness, pride, fear, who knows what.


God, imagine if ZH were around during the '30s....

jeff montanye's picture

i'm with you through the shrug, the hard work and the foresight, the comical refusal to profit via blinders, pride, other sins.

but what if zh were around during the '30's...?  it would have... been a feel-good stock equity and real estate bull and gold bear?  would have lengthened the depression by its even longer investment face?  what??

LeBalance's picture

Net worth by what measurement standard?

Implicit simplicit's picture

-how much more money one has by by defaulting

Wave-Tech's picture


Just think if back in 1974 someone had told you that in the year 2008 there will be a significant turning point in the stock market. You would have thought they were mad. But low and behold, just three months following the end of 2008, a major turning point for the stock market was indeed established. Not bad for a general forecast made some 34-years in advance.

before jumping to conclusions, read the entire piece, which includes part-I below:

Elliott Wave, the Next Generation part I


jeff montanye's picture

or, behold, just two months before the beginning of 2008, a major turning point for the stock market was indeed established.  i mean from 1974 the parallax is quite exquisite; doesn't take much of a wobble to throw the whole thing off.  

question (the answer to which is, almost certainly, because i don't understand elliot wave, which is certainly true):  if this is a bear market of elliot supercycle dimension (and we obviously have hit the end of the (private) credit cycle -- no wait stop the fundie analytics) why do all his chart price channels go up?  no chance the double top of 2000-2007 was it and any price channel that uses data from the 80's as part of that up channel is missing the boat?

The Answer Is 42's picture

But what's the question?

tom a taxpayer's picture

Russ Certo: "Given the rudimentary walk down memory lane above, I think themes have come full circle... Related to the ebb and flow of monetary and fiscal policy aspiring to make adjustments to imbalances caused by earlier failed fiscal and monetary policies.  How, circular indeed."

Tyler Durden: "In other words, not only does history not only rhyme, but chases its tail, and the more things change, the more absolutely nothing has changed."

James Joyce: "riverrun, past Eve and Adam's, from swerve of shore to bend of bay, brings us by a commodious vicus of recirculation back to Howth Castle and Environs."

For additional "must read piece of introspection", try James Joyce's Finnegans Wake:

"The fall (bababadalgharaghtakamminarronnkonnbronntonnerronntuonnthunntrovarrhounawnskawntoohoohoordenenthur-nuk!) of a once wallstrait oldparr is retaled early in bed and later on life down through all christian minstrelsy. The great fall of the offwall entailed at such short notice the pftjschute of Finnegan, erse solid man, that the humptyhillhead of humself prumptly sends an unquiring one well to the west in quest of his tumptytumtoes:

and their upturnpikepointandplace is at the knock out in the park where oranges have been laid to rust upon the green since devlinsfirst loved livvy."

Croesus's picture

I would consider this one a Must Read, for anyone long physical silver:


gwar5's picture

Yes I saw that earlier. Show Stopper indeed. 

gwar5's picture

The bankers got the only parachutes and are safe and sound on this troubled flight. They're trying to guide us in by remote control without having done it before and with none of their own skin in the game.


MOAB's picture

It was coming from everywhere all year. bernanke must be twitchin like a squirrel.

Its gonna get better.

Caviar Emptor's picture

The Big Trend 2010 was: the rise of obliviousness to bad news, deterioration and rot. Way back in 08, when we quaintly allowed the market be free, there was a thing known as 'fear'. It, along with 'greed', was supposed to be the cardinal determinant of investing. Ha! How silly we were.

Then sometime in 2010 we came across the Spoon Boy from The Matrix who let us in on the secret:

Spoon Boy: "Do not try to interpret the market. That would be impossible. Only try to realize the truth.

Neo: "What truth?"

Spoon Boy: "There is no market"

Neo: "There is no market?"

Spoon Boy: " Then you'll see that it is not the market that fluctuates, it is only The Bernank"

wisefool's picture

As others have mentioned, it is time for us to move on. The "Fight Club"/"Bernakes penis" imagery was right and fitting for this phase of the economy (pre 2011). But we really do need to go onto the Children of Men/Clive Barker/Blankenfeld stylisms from here on out to stay relevant in this post POMO world.

kevinearick's picture

In and Out Burger


RobotTrader's picture

Biggest memories of 2010:

1) Many bears were utterly destroyed trying to fight the tape.

2) Many gold bugs were sorely disappointed in the performance of gold stocks

3) Unintended consequences of trillion dollar "POMO" print-a-thon:  Epic rally in overvalued tech stocks and retail stocks.

Implicit simplicit's picture

Laws of gravity apply to all infated assets.

the wheels go round and round

tainted banksters go up and down

we're all captured on the carousel of time=decay

Bicycle Repairman's picture

Robo,  I wasn't disappointed in the performance of my PM stocks or PMs.  I feel my reward/risk greatly out-weighed that of tech stocks.  Just because tech and retail stocks rose in 2010 that does not mean that 2011 will be great for them.  I have no intention of changing my course.


You have a habit of showing charts after the fact.  How about some predictions for 2011.

ebworthen's picture

2010?  Reaffirmation that failure is o.k., even desirable, as long as you are not an individual.

erik's picture

Memory of 2010 will be the day the Federal Reserve sunk the stake into their own heart.

Nov 4th.

QE2 will be remembered in infamy.

pan-the-ist's picture

This took a while to sink in for me.  The game is over. It has been over for a long time, long before QE2.  QE2 was "their" attempt at stretching the tarp to try to keep the truthcovered up.  Unfortunately, the tarp is becoming threadbare and soon it will rip open and fall apart ($4-$5 dollar gas will do it).  Now is the time to be schizo and enjoy "the good old days" before the new normal really sets in.

When the hard working people who saved and lived within their means find out that their retirement has been looted, all hell will break loose.

They will try and channel that anger towardminorities, the poor, and foreigners-- as they always have, and will be quite successful.

I hope the middle class will one day wake up and see who the enemy is, just like they did after they last depression, but I have my doubts.

Bendromeda Strain's picture

The way that evil men destroy liberty and commerce is through banking. Whether money lending or money changing, it has always been so.  Socialism is a foil to disguise the underlying rot. Go to Plimoth Plantation sometime and hear first hand how it worked in a societal petrie dish. They tried it both ways, and collectivism almost led to failure by starvation. I surmise you tend left, and I am not disagreeing with your statement. Weimar showed the base instincts that emerge in a financial crisis run amok. The left will agitate and lose, those remaining will embrace the machine and create a hybrid menace. As we all see, the Democrat machine is not the vehicle the left thought they were getting any more than the coopted Tea Party is for the Libertarians. 

Bob Sacamano's picture

I think the more simple explanation is:  Government prints LOTS of money, then price of just about everything goes up - corn, cotton, sugar, copper, coffee, gold, silver, stocks, bonds, etc, etc.  

Not that complicated.