"The PunchLine" Has Nothing Funny To Say About The Future Of America

Tyler Durden's picture

In this relatively quiet night (no major central bank interventions... yet, just one downgrade warning of the United States, Fed "other assets", mostly of the 30 Year Treasury calls variety, at fresh record high), we are delighted to present our readers with the latest edition of Abe Gulkowitz' fabulous newsletter: "The PunchLine" which in our humble opinion succeeds in doing in 18 pages what Kiril Sokoloff's 13-D does in 80 (both being the best 3rd party research one can get about economic developments).  So for everyone curious about what has been happening in the US in the past few months, or what is sure to happen, TPL is your one stop shop for unvarnished information, most typically presented in easy to digest, chart format.TPL July 12 11

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mynhair's picture

Can't open in a new tab?  Oww...

Got lost on the 100th sentence in the only paragraph.

citrine's picture

You can download it as a PDF file, if you click "download" on the bottom.  I was logged in to Scribd though, not sure if it made any difference.

macholatte's picture

The reason it's only 18 pages is because they use a microscopic font. You'd think they were trying to save the electronic rain forest or something. Sheesh!

macholatte's picture

WHEN is somebody going to write a news letter detailing the success of the destruction of the USA for Christ sake? Soros has a 20 inch hard on since the dollar is crashing. Destroying ecomonies is what he does for a living. Obama is his "BOY".  The failure to raise the debt ceiling is not a failure at all for the Progressives. There's a communist, community organizer, college professor, Marxist, Muslim, racist, egocentric, sociopath in the White House. They own the Supreme Court and the Senate and the MSM. It's their plan. They are playing the moronic Rebubs like a violin.

Hello?? Anybody home?? Hello???? HELLO???


JW n FL's picture

what do you mean the Supreme Court is filled with strict constitutionalists! LOL!!!


they are together.. they are one.. the drama is all dog and pony show buddy!


it was never going to happen! the masses are to ignorant or stupid to see it.. just kick back and enjoy!

malikai's picture

 There's a communist, community organizer, college professor, Marxist, Muslim, racist, egocentric, sociopath in the White House.

This is the most ignorant, uninformed, incorrect, and frankly stupid comment I've read on this board in a long time. Are you Hannity's or O'reilley's sock puppet? There's plenty of names to call BO that are actually factual, yet you use this drivel?

mick_richfield's picture

Oh, you think he's not a Muslim ?

WhiskeyTangoFoxtrot's picture

B.O. is a miserable failure at best. But he's not a fucking Muslim, dumbass. And if he was, who gives a shit. Keep your eye on the ball. There are much more important things to worry about.

mr.smooth's picture

You have hit the nail on the head. Obama is in a win win situation. If there is a default, he wins, If the Rupubs cave and give new taxes and increased debt limit, he wins.

Obama, the great destroyer!


Seasmoke's picture

for a cheap day out, i go out and hang out in a mall and the next day spend my money online at tax free and free shipping online stores

blunderdog's picture

Sounds like you're ready for the next step.  Quit filing that income tax return.  Be part of the solution.

Tax evasion is what it is.  If you're in for a dime, go in for a dollar.

nmewn's picture

My name is Charlie Rangel and I approve this message.

My name is Tim Geithner and I approve this message.

My name is...

blunderdog's picture

You'd be funnier if you weren't so pathetic.

You're all about principles and honor and not giving an inch, and you've made some grandiose claims about fighting tyranny, but you don't even have the balls to stop writing checks to the big bad tyrant because you're too afraid.

Wake us up when you grow a pair.  ;)

monopoly's picture

Tough to read but the charts speak for themselves. A picture worth a thousand words.

Thanks Tyler, Good night all.

mynhair's picture

917 area code?  is that like bankrupt NY?  we should 'read' a piece by a fool still there?

And,no, like Pelousy, I didn't read it cuz my eyes kept crossing.  Try structure!


zorba THE GREEK's picture

 From all the charts it looks like Obama administration not doing too

 good. Doesn't look like slow recovery. Looks like double dip.

Dre4dwolf's picture

Ahahahaha "government or private sector", the other day I was thinking the same thing, I was thinking it might be profitable soon with the break - down of society to start a small organized crime sindicate / bootlegging / selling tax free weed (because they will legalize it) / tax evasion.

When all hell breaks loose, you gota make a living... anything to keep the stomach full... I got like 20 people ready to jump on the bandwaggon once it gets rolling, everyone should have a similar plan, because its going to be dog eats dog.

Perseid.Rocks's picture

Wait 'til the US military gets destroyed in the final battle; then you'll have unfettered access to those black markets. Going off the grid is going to have its drawbacks, but it'll be a whole new world of opportunity.

JimBowie1958's picture

Yeah, looks like Afghanistan is going to turn into our own Stalingrad.

Once Pakistan refuses to let us supply through their territory, and the Taliban has enough AA squads trained and ringing our air fields, we will be without direct logistical support.

Then all proverbial hell breaks loose.

Alot of very good men will likely be lost, but it seems to not concern the PTB.

Meanwhile Iraq turns into an Iranian client state, and what have left to show for 10 years and trillions of USD fighting those damned wars? Nada.


uniman's picture

This is the key to liberation. Imagine organizing with other like-minded people to engage in peaceful civil-disobedient style political protest. The basic idea is to simply disconnect from the existing political system and build a new economy based mostly on trade with each other. Yes, we can enjoy some limited intercourse with the infidels but doing so will constitute gravy not the main meal.

I'm exploring these themes at grandfubar.com and These are humble beginnings but we have to start somewhere.

In the beginning, open and violent insurrection totally plays into the hands of the enemy. They would use that as another excuse to tighten their noose and would be easily crushed. This is best saved for the end-game when .gov has been banished to Puerto Rico to contemplate their strategy for retaking the Mainland. Engaging in non-violent civil disobedience will remove the military as a serious opponent because there would be nothing significant for them to shoot at.

The basic idea is to either live free or live-for-free. Disconnect from their system. Stop voting. Get your money out of their banking system. Stop buying their shit. Build tent cities on various pieces of underutilized land. There’s lots of that around. The intention is that these tents cities become the nuclei of the new society. We must have land to live and farm. We will not pay rent or buy the land. We will take and hold underutilized land. When we have secured our bases then our new economy can begin to grow.

Eventually .gov will beg to differ and tell us to leave. So we tell them to leave instead. We make the standard offer… “you leave us alone and we will be good neighbors. But if you fuck with us then we’ll make lots of expensive trouble.” Eventually, .gov will choose to either leave us alone or to start arresting people. Hence the live-for-free angle. However, nobody will be incarcerated for long because living in a tent city is not a major crime. But you will get the opportunity to clog their courts and contribute to their bankruptcy. No arrest will result in a plea bargain or acceptance of probation. Nobody bails out. Everybody goes to jury trial with court appointed free attorney.

As long as this is peaceful civil-disobedience then the enemy's weapons are blunted. They can arrest and levy fines and penalties all day long. But at the end of the day, we do not pay, so what are they going to do? Keep us in jail? Ha ha assholes, your jails are already full! Dealing with us would become a money pit. Their jails are full now and their money supply is running low. It would not be hard to overwhelm this system.

Some of you might have caught the “go-to-jail” angle in this. Yes, an unpleasant reality. But there are plenty of scenarios scarier than that. There’s no path to liberation that’s not going to involve some very difficult times as well as the extermination of whatever wealth you presently have. You can kiss your job and house good bye (assuming you still have either.) If you want your liberation you're going to have to rebuild civilization starting with your bare hands and feet.

I hear lots of people boasting about how well armed they are, apparently with the implication that the Marines had better stay clear. But anybody who lacks the balls to spend a few nights in the lockup is hardly going to really open fire when the time comes.

Voluntary Exchange's picture

What is being described is "agorism" or "voluntarism", a good thing.  Voluntary exchange is not "crime" when no force, fraud, or theft are involved.  It is, and always has been the state that is the primary problem. The state is where most of the theft, fraud, violence, and murder in this world originates from by a large margin. Free market purchase of defense and justice services is far superior to relying on monopoly providers who force "purchase" of their services through force or threat of force: (state "defense"/"security" and state "adjudication"/"justice") .  A purchase in a free market is a far better expression of social preference than any political system could ever pretend to emulate. And preserving the vital "power of the purse" in the hands of the people in a truly free market is the best possible check on criminal/sociopath  accumulation of power. Political systems are forms of mass deception to empower a particular group to take by force, fraud, or theft.


Political systems, being based on the initiation of force, by their very nature contradict fundamental principles of civilization: life, liberty, property, cooperation. And political systems that attempt to protect fundamental rights constitutionally will end up being the biggest threat to those rights because those who exercise monopoly power to enforce or adjudicate will end up trumping or "interpreting" what ever you try to write down on a  piece of paper in any kind of "constitution".  The "Lincoln" or "Caesar" statist tyrant will always eventually come when your system is based on the initiation of force and monopoly adjudication/enforcement.

All "taxation" is theft and a crime. Voluntary exchange without the initiation of force or fraud is a definition of "lawfulness". Involuntary exchanges are a definition of "crime". 






"Charles "Rad Geek" Johnson chats it up with MHD about Agorism"



"Brad Spangler ... Agorism"  "The Makers can live without the Takers!"





spinone's picture

"Free Market" is a myth. Show me one.

WhiskeyTangoFoxtrot's picture

Food for thought. Thanks for the links. 

sasebo's picture

Just another obnoxious asshole. They're everywhere in DC.

TruthInSunshine's picture

I didn't read this - yet - but I will (before bed).

I just want to say that I predict that the prognosis for the U.S., the Eurozone, Japan & China (for some of the same reasons and for a few different reasons) are all quite negative, based on whatever concrete and solid facts and analyses are contained in this report.

Am I right?

I went out on a limb (/sarc). Let's see if I'm proven correct.

Even if the report doesn't exactly state what I predicted above, I maintain that it should.

One last thing: Revolution isn't always bloody, violent and traumatic.

Sometimes, revolution (and revolution powerful enough to bring down a corrupt political system and the vagabonds who back them) looks just like this - which I really am detecting in the actions and opinions of MANY people I come into contact with as of late (if you see what I see, hedge accordingly):


Gonzalo Lira On The Coming Middle-Class Anarchy | zero hedge


mcguire's picture

i thought the most interesting charts were the chinese and russian pmi numbers... wow, both on the brink..  

JW n FL's picture


U.S. Dollar.. 120%(ish) Leverage from the FED.. straight off the printer.


China Renminbi.. 1,200%(ish) Leverage from the Central Bank in China.. straight off the printer.


Before anyone touchs these paper / fiat / toilet paper they are already cooked.

insidious's picture

The one line in the PunchLine (in the section on Playing Make-Belive with Greece) that let me know things are really dicey was that: "The European Central Bank has maintained that it won't accept bonds with a default rating as collateral." What's this? Who the hell do they think they are bailing out? Someone who's finances are in great shape? I guess they could bailout Germany or China (but they'd probably have to first get the money from Germany or China - or, of course, they might just push the overdrive button on the printing presses - and of course, "printing presses" is so last century, all you need now is a little program to manipulate all those zero's and ones in a few computer systems and wala all's good).

Oh regional Indian's picture

Who would?

Even Hu wouldn't.

Progress is an interesting word. All it means is moving on in the dominant direction. 

So yes, everyone is making pro-gress, it's just that the gress (direction) is all wrong.



cosmictrainwreck's picture

ah, ORI.... as always, a little Zen-ish spin, this time on the "gress" :)

Oh regional Indian's picture

;-) Egress, ingress, digress got me thinking about that one!



cosmictrainwreck's picture

but I digress.... slow night here, only action is on Barney-bashing thread. Hey - what the hell time is it over there? Friday afternoon? 10 pm Thur on Left Coast usa

Oh regional Indian's picture

Yup, late Friday morning as I type, 11:30 to be exact.
All is not so well here, what with bomb blasts in Mumbai and all.

The great patsy trainwreck continues! ;-)


cossack55's picture

Wish they would change their name to The Neckline.

digalert's picture

If I may quote Joe Biden:

"there’s no possibility to restore 8 million jobs lost"

“no way to regenerate $3 trillion lost. Not misplaced, lost.”

At least Joe slips on some honesty off guard.


overmedicatedundersexed's picture

Hey Mali, you are sort of required to list those names you approve of No?

overmedicatedundersexed's picture

mali? mali? remember a coward dies a thousand deaths. you will forever be a troll until you fess up..give us your approved list of names to call the obuma.  crickets chirping

Bastiat's picture

Long-legged MacDaddy? Fraud?  Usurper?

jack stephan's picture

A relative of mine works on death row, and lived during the Great Depression, and he's even petrified scared.  "Ramming speed!!!" towards 2012-13. Tally ho folks.