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Presenting The Ultimate Indicator Of Easy Money Access

Tyler Durden's picture





 

Forget M2, the monetary base, irrelevant Keynesian aggregates, reserve balances, and all that other mumbo jumbo. According to Sean Corrigan of Diapason, the ultimate indicator of easy money and speculative access is none other than Sotheby's share price.

Corrigan also adds the following disclaimer: "... reflecting the results of the latest World Central Banking Challenge Cup match:-Plutocrats 4  - Wage Slaves 0." We won't comment on this all too obvious observation.

 


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Wed, 07/20/2011 - 07:54 | Link to Comment No Bid
No Bid's picture

awesome post

Wed, 07/20/2011 - 08:17 | Link to Comment AD70
AD70's picture

This BID concept was already discussed by Contrary Investor in May: http://contraryinvestor.com/2011archives/momay11.htm

Wed, 07/20/2011 - 08:37 | Link to Comment No Bid
No Bid's picture

Thanks, I thought that was subscriber-only but now I see it's got a free monthly Market Observation.

Wed, 07/20/2011 - 09:20 | Link to Comment WeimarRepublican
WeimarRepublican's picture

... and Marc Faber did so on January 1, 2011. Quote:

"However, what is interesting is that spikes in Sotheby’s stock price coincided with stock market peaks (2000 and 2007) and lows with stock market bottoms (2003 and 2009). I am not suggesting that Sotheby’s is a perfect stock market indicator but its stock peaks were always signaling heightened speculative activity in the stock market. (As an aside, Sotheby’s stock recent surge would indicate that stocks are already far along in up trends.)"

Wed, 07/20/2011 - 07:55 | Link to Comment equity_momo
equity_momo's picture

Still pumping Sean "we can power industry with green unicorns" Corrigan? At least he isnt talking about energy.

Wed, 07/20/2011 - 07:57 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Wage Slaves never score points, they are the worst team ever.

Let's get rid of The Wage Slave franchise. Bankers unite.

Seriously though, bankers rule. No for real. Like, they own almost everything.

Wed, 07/20/2011 - 08:06 | Link to Comment Incubus
Incubus's picture

They own everything because they're smart enough to fool the ignoramous wage slaves into thinking that they can be part of the group, too.  So you have all these idiots working, paying off debts that were incurred via no risk by banks (fractional reserve usury) -- and they willingly signed up for the sanctioned playcredit so that they could peacock amongst their peers and present themselves as an imitation of success. 

 

It's plain old human folly:  "creditors" know the foolishness of men: how "base" we are.  'round and 'round and 'round we'll go—civilization after civilization.  You'll educate people and they'll still only rise to their most-primitive programming;  apes parading as something more—something they'll never be.

Wed, 07/20/2011 - 08:12 | Link to Comment DavidC
DavidC's picture

It's our programming - man with the biggest penis or most money gets the choice of sexual mates.

Conversely (or perversely?) it's why women mey make better captains - they're less subservient to testosterone.

DavidC

Wed, 07/20/2011 - 08:45 | Link to Comment Are you kidding
Are you kidding's picture

Please...women have so much OTHER baggage that they're NOT good at much.  You REALLY want a world run by bickering, gossiping women?  Really?

Wed, 07/20/2011 - 09:00 | Link to Comment snowball777
snowball777's picture

Need to get laid, huh?

Wed, 07/20/2011 - 11:01 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

That is what we have now, the Globalist cabal are all just male women.

Wed, 07/20/2011 - 08:18 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Harsh, yet accurate. Fiat for the believers, gold for the skeptics. Pick a side.

Wed, 07/20/2011 - 08:07 | Link to Comment bigdumbnugly
bigdumbnugly's picture

Translation...

wage slaves = The Washington Generals

plutocrats = The Harlem Globetrotters

complete with hilarious hijinks, paid "referees", and a guaranteed outcome.

Wed, 07/20/2011 - 08:27 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Someone bounced a basketball off my head.  Now I know who did it.

Wed, 07/20/2011 - 08:55 | Link to Comment sdmjake
sdmjake's picture

Yeah, i thought the Washington Generals were bad but this is ridiculous...

Wed, 07/20/2011 - 08:00 | Link to Comment Byte Me
Byte Me's picture

Doesn't lag much either.

Wed, 07/20/2011 - 08:04 | Link to Comment Cassandra Syndrome
Cassandra Syndrome's picture

Thanks Tyler, excellent chart to illustrate bubbles and the Cantillon effect.

Wed, 07/20/2011 - 08:08 | Link to Comment Oh regional Indian
Oh regional Indian's picture

That looks like a leading/lagging indicator to me.
Also, you can throw in all of Robotrader's picks and probably find the same exact picture.

Price-less market, this.
ORI

http://aadivaahan.wordpress.com/2010/07/24/value-vs-price/

Wed, 07/20/2011 - 08:19 | Link to Comment Paul Thomason
Paul Thomason's picture

The chart can only go to zero on the way down but can still go much hgher on the way up.  Looks like it will head to 70 before this booble is done.  I'm calling this booble 'The Peak Debt Bubble' - pretty cool eh?.

Wed, 07/20/2011 - 08:25 | Link to Comment francis_sawyer
francis_sawyer's picture

Get your "wage slave" official t-shirt here... (wear it with pride)

http://www.crazydogtshirts.com/catalog/86harlem_alt1.jpg

Wed, 07/20/2011 - 08:31 | Link to Comment css1971
css1971's picture

Apple

Google

Lululemon Athletica (What The Fuck?)

Wed, 07/20/2011 - 08:59 | Link to Comment css1971
css1971's picture

yoga clothes & running gear for sweaty workouts

Ah, I see... Make perfect sense. Clearly moving the world forward. Not a fad at all. Clearly not a bubble. Bound to be here for generations.

 

BTW, I consider myself an awakened wage slave. A very pissed one, and I am going to get even, one way or another.

 

Confidence? Fuck your confidence.

 

Wed, 07/20/2011 - 08:45 | Link to Comment Sudden Debt
Sudden Debt's picture

JUST TAKE IT AWAY BOYS! ENJOY!

We'll downpay it for the next 50 generations...

 

Wed, 07/20/2011 - 08:52 | Link to Comment Saxxon
Saxxon's picture

The last two spikes are powered by mainland Chinese contemporary/antique buyers.  They are stubbornly Sinocentric - with a few exceptions (e.g. Bentleys, Rolexes) they only buy Chinese.  I have spent a good part of my leisure time in the last several years trying to find pieces to throw at them.  When the P.R.C. corrects that spike will subside right soon.

Wed, 08/10/2011 - 19:36 | Link to Comment Dirt Rat
Dirt Rat's picture

Russian oligarchs searching for Russian trinkets and objets d'art also have some hot money.

Wed, 07/20/2011 - 08:56 | Link to Comment FoieGras
FoieGras's picture

Chart needs to be inflation-adjusted.

Wed, 07/20/2011 - 09:41 | Link to Comment dvsteenk
dvsteenk's picture

and beta-adjusted

Wed, 07/20/2011 - 09:55 | Link to Comment Djirk
Djirk's picture

I used to be skeptical about the FED and their price stability mandate, but when I see this chart. With the help of a largely uneducated populus they are pretty good at creating a series of bubbles....bubblicious

Wed, 07/20/2011 - 10:06 | Link to Comment adr
adr's picture

We can call it the "reality takes a nosedive indicator" or the "Irrational Exuberance Indicator". I think I hit it on that one, perhaps we can set up an IEI ETF. Trading on irrationality could make us all billionaires!!!!

I tried telling someone who was hyping Lulu that it is impossible for them to sell the amount they claim out of 125 small stores and a website, but they said I was crazy. I said, "Do you know anyone who actually shops there?". The reply was, "No, I don't even know where to find a Lulu store." They currently have a market cap twice Under Armour and UA is sold in over 3000 doors in the US alone. Lulu has one hell of a creative accountant.

DON'T FORGET THAT THE TARGET FOR CHIPOTLE HAS BEEN RAISED TO $400!!!!

Wed, 07/20/2011 - 10:36 | Link to Comment rosiescenario
rosiescenario's picture

Lulu

GOOG AAPL

HOG

...obviously this is a market that is very worried and expects a black swan event

Wed, 07/20/2011 - 10:38 | Link to Comment rosiescenario
rosiescenario's picture

Lulu

GOOG AAPL

HOG

...obviously this is a market that is very worried and expects a black swan event

Wed, 07/20/2011 - 11:02 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

yeah, but the banksters scored all 4 by making 25% of their penalty kicks and we put 9 of the assholes in the fukin hospital

piratically, that would be a pyrrhic loss, doncha think?

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