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30h21 till kabooooooooom time.
Pertaining to what ?
U.S. budget talks ?
No deal by July 23, not much of a chance that they will pass something before D-Day.
You have a time-bomb in your pants?
naww. He's just happy to be first poster.
I’d say that it’s probably safe to say that the probability that we've begun another leg higher in world equity prices is much better than for a BTFD opportunity first. ;-(
Europe is not being the drag I thought it might be. All of Europe is inside an extremely important short setup on the daily charts though (except for the MIB and IBEX), but I see a lot of strength going into that setup and it just might fail. (That same setup is broken on the majority of the U.S. majors, but Asia needs to get in gear tonight.)
In any event, if you were expecting prices to be higher intermediate term, you’d at least be mildly long, and therefore not too upset about not getting that short term buy spike to load up on first.
What, no ES/Risk basket arb today tyler?
What, you missed it?
Great Work from Gary.
It's just a dam shame that the United States of America could not make page 22. I mean W.T.F.
We really are stupid sheeple, aren't we? At least we have ZH to help us.
Unfortunately, there's a lot more structurally wrong with the US economy than just "too much debt" and a "balance sheet recession". That's the prevailing view. It pre-supposes that once debt is either paid-down, defaulted on, marked down, forgiven or inflated away that everything will be right back to where it was on September 14th, 2008. Not.
All those things sound great...paying down debt, deleveraging, defaulting on debt that can never be paid back. The stuff of dreams.
However, there is no f'n deal! There is a Wall Street generated sense that things will get done, Rs in the house that will not vote for taxes, some worn out old term limit candidates in the Senate who would sell their children's kidneys for a deal, and a nation infuriated with all of it.
And as for Europe, I'll believe "Greece is fixed" again [for the sixth time] when someone tells me how private participation [in absolutely certain future losses] are going to be implemented within a group of 17 nation states, all with their own central banks...because Zarkosy hugged Merkel?
Day by day, the absolute steaming pile of bullshit gets so high that the outcome of all of this is so clear that almost nothing else can be seen except the inevitable. WE'RE ALL FUCKED with these daily assclown reports! And in the corners, the very theives that created this shit pile are algorithmically printing more money.
I cut my teeth in the markets exactly during the dotcom bust. And the market behaved then exactly as it is behaving now. And NO! It isn't fucking different this time.
We have arrived...at our deserved end...and I expect things will be very clear...and very soon...not three years from now but possibly as soon as the AH session ends and the dumb ass Chinese start pulling down their dumb ass Euro exposure.
Good grief! [and by that I mean fuck me]
Day by day, the absolute steaming pile of bullshit gets so high that the outcome of all of this is so clear that almost nothing else can be seen except the inevitable.
Old Italian saying: The longer the bullshit lasts, the less it smells
new media saying: "you have 45 characters or you pay. begin."
i would be more impressed if he dropped the 'and' from his firm name.
Davidowitz is great in this one
This guy tells it striaght from the ground level. NO BS
Hahahaha Jean-Vincent Gave. Is he still around??? Are people still listening to him, paying money to hear him speak??
Please see "Brave New World" by GaveKal as the nonplusultra of being on record absolutely, entirely, completely and massively incorrect.
Excellent charts.....a handy reference to assess overall global economic fuckedupedness.
Since nothing meaning ful is happening here:
Some days ago I presented this chemical reaction to you:
Fe2O3 + 2 Al -> Al2O3 + 2 Fe
Now why is that so important ?
Because it is the so-called Thermite reaction.
It takes place at around 2500 °C.
Since steel melts at 1400°C, this reaction is armor-piercing.
Need I say more ?
They will probably make use of the active-denial system, but the solution to this is you need a mirror to deflect micro-waves.
Or a material to absorb it.
Well, should they go as far as to use the neutron-bomb, well, then all bets are off of course.
Then you can just try to hide near the rich guys, because that's of course, where the bomb won't hit.
Do you agree with his last page? Sell commercial real estate? IYR has been only up for the last 3 years.
The only strength for US multinationals is demand in China. US consumer market on life support breathing credit card oxygen as Shilling describes. Consumer recession inevitable and bolstered by any adverse budget cuts contemplated in entitlements,and pork. Real estate dead for at least 5-7 years. Unemployment systemic with global economic model. Only bright spot is stock market which relies on QE continuation and unsustainably low interest rates. Nevertheless, I look forward to other presentations but troubled that economists in power tell you what is wrong , but no guts to offer suggestions for real change. In that sense they are just as guilty as polititians. Only one with guts was Volker and no one listened.
This is the theme to Garry's show...the theme to Garry's show. Garry called me up and asked if I would write his theme song. I'm almost half way finished, how do ya like it so far....OH Shilling, not Shandling. Sorry.
i'm giving the blue ribbon for this month's entry to chart # 32 [US Bank Exposure To The EuroZZZone & UK (as of 9.30.10, in $ billion)] where the grand total is:
2,146,074 $ billions, or
i have no idea what this means, but that is a very large #, and the only way i can relate to the sheer magnitudinality is, ^?uncle scrooge?^
where's elmer fudd when you need him?
i like faber's weird little pony tail
i think he is wrong about the 20% to go in housing, so many homes are going for less than construction costs now
The US consumer is the driver of economic growth going forward? Maybe if we double the amount of 18-34 year olds living with their parents to 26%?
Between Spilling's 20% more down in housing to go, need to replenish retirement accounts, higher oil costs, small savings rate being inflated away, and insolvent governments clawing away at consumers with higher taxes and fees, I don't see how how the US consumer can restore global economic growth.
Good information..ty for posting it. Shiller puts his finger on the key point....our GDP is 70% consumer spending---which produces nothing, nada, zero.
Why are Larry Summers, Timmy and Barry trying so hard to bring CS back to life when they might better focus on creating jobs where we actually produce something, somebody needs? OUr GDP numbers would sore and we could handle the deficit better; i.e. work it off realistically as opposed to inflating it away via more massive printing?
Classic. slide 41, sell item #12: Japan_ slow train wreck.
Seems like Japan is the model of economic success... avoiding high speed train wrecks.
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