September 2009 - Fundamentally...Disconnected

Tyler Durden's picture

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Hephasteus's picture

The ratings agencies and analytics agency appear to be just out of thier God Damn mind.

Anonymous's picture

3 Years ago it was a given that home loans were solid gold. Now its a given that US Government and Agency debt is solid gold. We shall see how this plays out, but right now the US Government is borrowing from Asian savers to finance a stock market bubble, a cash for clunkers bubble and a first time home buyers bubble, all while financing two losing wars.

Missing_Link's picture

Two losing wars?  Really?  Then why are the Iraqi security forces taking over in that country?  They wouldn't be doing that if we hadn't won.

Anonymous's picture

We haven't. All we've succeeded in is bribing the Sunnis (called the "Great Awakening") from blowing things up by paying them to join militias that our nabob sheiks run.

In a couple of years, as soon as the bribe money slows, the Great Civil War will finally unfold. At that point, we can only intervene again if China decides to give us the money to do it with.

Some superpower.

3greenlights's picture

Tyler, thank you. Excellent, excellent work.

nope-1004's picture

Do we need Egan Jones to tell us that the economy is "fundamentally disconnected"?

Hell.... I can feel it.  Things today just don't feel right.  We had billions in bad loans go POOF in mid air.

Obviously the value of money means little today if banksters are willing to piss it all away in the name of greed then ask for assistance to curtail "systemic risk".


F'em.  There is a HUGE fundamental disconnect from reality, and it's called the ENTIRE US ECONOMY as it is run today.

ghostfaceinvestah's picture

Well, the big banks like JPM, C, BAC, WFC, etc can't survive without your deposits and your credit card usage, so in a way the American public is reponsible for keeping these guys alive.  no one is forcing 10% of the population to bank at BAC.

I refuse to do business with these crooks, but many others support them.

You want change, start there.

They steal from us everyday's picture

The American people are responsible for ALL of this.

They voted for Barney Frank and Chris Dodd and Obama and Pelosi.  Bush too, although his contribution was mostly to let Paulson handle the bailouts.

The American people are currently ignoring this all.

They deserve it quite frankly and I just wish I could figure out how to leave the country.


Anonymous's picture

Yes, you are right. I've been advocating this to anyone and everyone. This is what must be done.

You can protest, write your congressman, etc. until your blue in the face, but if the public at large starts transferring their "cheap money" out of the anointed/collaborating big banks to local banks, we can take care of this problem ourselves in short order.

"When the people fear the government it's fascism, when the government fears the people it's a democracy."

Bankster T Cubed's picture

The only thing that matters to the markets is what the banksters' Godzilla bot has programmed in.   the whole of the markets is pure farce.   Price discovery is as dead as Adam Smith.

crzyhun's picture

Thanks, good labor day reading- to all who will take the time.

Anonymous's picture

Good article. I found the stat indicating about 20% of personal income comes from the government interesting. I assume that does NOT include the wages of government employees. Given they are something on the order of 13-14% of civilian employment and at least at the federal level, more than non-government employees, that would give you over 1/3 of personal income involves government employees or their dispersement of government largesse. Damn

Anonymous's picture

Good stuff. You must be on to something if CNBC tales the time to belittle you.

The market is a ponzi scam. Stay away.

KeyserSöze's picture

Tyler can they publish more? Love these guys!

Anonymous's picture

I would be more impressed with the analysis if they were more careful about "Colgate to Flour".

Umm, "Fluor"?

Useful tip, covering A-W isn't enough in a presentation if you forget to XYZ

Anonymous's picture

I would suspect that the "smart" word processor decided they had spelled "flour" wrong.