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VIX Closes At Lowest Level Since Summer Of 2007
No, not 2008. 2007. It is at the same level it traded last when the S&P hit its all time highs, when stocks moved 10% on a Cramer recommendation, when complacency was virtually infinite, and just before the first quant wipe out of August 2007. That said, the summer of 2007 did not have a politburo of 12 Fed presidents and one Chairman determining every single tick in the Russell 2000. In that regard, this time is truly is different. Expect the VIX of the policy instrument now known as the stock market, to hit 0 as vol in FX, rates and commodities approaches asymptote.
Keep in mind, a VIX of about 15 is needed for the swaption market to function, which means that if PDs are making enough money on swaptions, they will be more than happy to create a little mini crisis and get the VIX right back up. On the other hand, what need is there for a high VIX and the expensive insurance, when Uncle Ben holds all the insurance policies on our behalf? After AIG soon to be successful emergence and its resumption of selling infinite CDS, what can possibly go wrong?
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There is no volatility anymore. It's all about buy and hold...for about 20 seconds.
Hot potato.
Truly there is no vol anymore...this time IS different.
the VXX is 31-32.....AFTER A 5 FOR 1 SPLIT...
There is no doubt this ETF will not be dismantled by summer. The simple laws of physics tell us as we will run aground well before we get to 1350 SP which is next week!
It's the biggest scam since Madoff.
fucking scam
Which incidentally proves the superiority of fundamentals over technical analysis. Normally, an aberrant VIX like that cannot last... and any person relying on technicals will immediately short this market.
But fundamentally, it is the new normal. All the rise is due to inflation (already come or to come).
Yes, just like the bull market of the 1970s...
Please explain how inflation can cause equities to drop nominatively. If the PPI increases, the CPI is very likely to increase too - unless companies decid to commit suicide -, and the earnings/company valuation nominatively increase.
I think the relative bear market in the 1970s was more due to fear of rate hikes than fear of inflation. When it was obvious for everyone that the FED was not going to increase rates, at the end of the 1970s, the market began to rise, until it was slaughtered by the surprise 1987 rate hike.
Every inflationary event has historically been accompanied by a stock market rise, from Weimar Germany to Argentina or South Africa.
PS : No need to use sarcasm or to be rude.
I like most of your post.
You answered your own question in paragraph two.
I've never asked a general question, I've asked the opinion of A Man Without Qualities on the subject.
Your opinion, though, is worthless if not expressed in more words than this.
If you believe the FED is going to raise rates before hyperinflation hits, I'm afraid you're delusional. But you're free to short the SPX; I'm watching you.
Just a small question to laugh a bit: what is, in your opinion, the reason of the 80% rise in equities seen after March 2009? Genuine investors' expectations? Or printing press injections that are flowing into the economy right now?
I'm ready to give my predictions right now, and you'll be able to bring them out one year after to laugh at me if I was wrong.
- The VIX will continue to decrease, reaching anormal and stupid levels of blissful confidence.
- The DOW will reach 14,000 (its pre-crisis peak) before May.
- The FED will never hike rates.
- Hyperinflation will hit in late 2011.
This is my opinion, and I do not mean to offend.... But you appear to be rather young with your arguments. One thing I will assure you of is that the system will not end... It will look very messed up for a while, but the sun will rise tomorrow. What you are witnessing simply is the end of a macro monetary system. Once is finally is accepted to be broken down, there will be a meeting and the rules will be changed.
Also, hyperinflation argument really does not make allot of sense because you assume that at least a part of the system is fair and reasonable. It is not. Also, the FED does not need to hike rates to control inflation. All it needs is to control the PD's, which ultimately control the flow of money. Also, commodities can easily be controlled if they get out of hand by selectively controlling the margins to the larger players. Once the ball starts rolling, you will see declines in very shorts periods of time as players get crushed by margin calls.
If you want to look into the future its simple... Long strangely calm periods with short and extremely violent volatility... But the system will eventually balance and start over as it always has..
I can´t see how the current imbalances allow for a simple restart, unless you see the Renaissance as a restart of the collapse of the roman empire. The monopolies of violence organisations all over the world have grown into a cancerous abscess. They have plundered their tax slaves to the max. They can print all the money they want and buy all the influence they need. They can force the tax slaves to keep using their money.
History and simple psychological experiments show that if a group of people has such power, it can only get out of hand.
[I can´t see how the current imbalances allow for a simple restart, unless you see the Renaissance as a restart of the collapse of the roman empire.]---pcrs
I agree with your Reply to above.
I'm sure the Romans thought the same thing: "Oh, don't worry. Everything will be OK. Our leaders will simply have a meeting and fix all this." This is irrational thinking that does not account for facts.
I think it is too painful or frightening for most people to accept the notion many aspects of life are simply out of one's control; hence, they blissfully assume politicians will fix it.
Folks, history is at our doorstep. Yet, there are 24hours worth of things one can do each day to prepare yourself, family, friends, and community.
Your argument assumes the USD will remain the reserve currency which is highly unlikely. Countries like Russia, China, Japan, ect are collaborating together to find an alternative to the USD and when that happens, shit's gonna REALLY hit the fan and the Fed will be irrelevant.
But I think you mistake a stagflationary event for an inflationary event.
Companies (of which I work for the world #2 in my industry) are finding massive vendor increases season over season, year over year. We already stripped the product in '08, stripped the organization in '09, reaped the rewards in '10, and now it's starting all over again but we've nowhere further to cut. And no, price increases to consumer are just another way of saying we'll lower our total sales to maintain margins (or vice versa).
This isn't as bad for those selling in the BRIC's where there is classical inflation (wages, homes, food, everything) rising as the price increase may be passed along. But for US, EU, Japan - this is very bad for corporations sales and/or margins. Look for negative surprises...and more layoffs or continued outsourcing.
Agreed.
Also more M&A as firms buy market share and further strip the product line, production facilities and excess staff.
Will generate nice fat fees, the aquisition can be funded by over-valued stock and the resulting firm may end up on the TBTF list. But apart from the headline spin all the consequences will be negative.
...having been an investor during the '70's and having worked for a cement manufacturing company during that time, let me say you are correct....the price increases for energy and raw materials hit faster than the corp. can raise prices to its customers.
Easily debunked by Gonzalo Lira's article.
http://www.zerohedge.com/article/guest-post-hyperinflation-part-ii-what-it-will-look
Not every inflationary event has been accompanied by a stock market rise. Firstly, the idea that PPI increases must lead to CPI increases doesn't take into account what impact this has on unit sales and therefore earning. What is clear is that with the current levels of unemployment, workers salaries are not going to rise faster than prices, leading to a reduction in unit demand. Companies may decide to delay price rises in order to support output, but if disposable incomes decline, this can create a vicious circle. Elasticity of demand is very hard to know.
In countries you cite above, the inflationary effect was actually a currency weakening, which was a boon to exporters (listed companies in smaller countries tend to be higher proportion of exporters). The S&P500 only gets 30% of its final sales from overseas sources (different to overseas revenues, because of outsourcing and transfer pricing), so it won't have the same effect. Further, in nations with a history of higher inflation, wages tend to be automatically inflation adjusted. This is true in Weimar Germany, South Africa. In Turkey, my colleagues would get an automatic readjustment every 6 months. There are very few (non-public sector) workers in the US with this deal.
You could argue that rising inflation would be good for equities if they were priced on book value, but they aren't - it is the discounting of cash flows. Even if the Fed keeps rates at zero, the long end will steepen, and if QE makes bond yields negative in real terms, investors should discount at the inflation curve, not the bond yield curve, or they will prefer real asset investments.
Overall, my view is we have a large output gap, very high un(der)employment, rising input prices, high debt burdens, falling median incomes, demographic changes including graduate debts and baby boomer retirement, solvency crisis in local governments. The magic solution of the Fed is to inflate away the banks bad debts, by flooding the markets with liquidity, but this is a blunt tool and it will impact the cost of essentials far more than the discretionary goods that currently have the highest margins. Some equities will do well (oil, food, tobacco, chocolate, pharma companies tend to do relatively well in inflationary environment, but retail, real estate, consumer durables, autos etc won't do so well.)
I think we are heading towards margin squeezes and stagflation, which is probably the worst place to be for the average citizen. History shows the US, UK in the 70s that people become reluctant to spend, reluctant to borrow and reluctant to invest. It is very hard to did yourself out of this mess, especially for governments who find their costs rising and revenues falling. The level of government debts we have today makes it doubly hard to stimulate your way out of it.
"Every inflationary event has historically been accompanied by a stock market rise, from Weimar Germany to Argentina or South Africa."
True, but only after inflation is fully realized. During the price surge period, equity is a horrible asset class to stay in.
RUT
Looks like a final back test of that long-standing rising channel. And, yes, I'm now short.
http://99ercharts.blogspot.com/2011/01/rut_14.html
Fundamentals suck too.
Fundamentals have sucked since the end of September....lol.
I looked at your chart, the fifth wave we are in is extremly ugly for charting. I see room to go yet. However, I've been completely wrong since September too.
I hope you are right because I have been getting my ass handed to me with TZA...every time there is a seeming rollover, they find another dog to prop. KRE, RAX, RVBD, PAY, NDSN do I really need to go on? Additionally, and this is far from technical, rather a pattern, but the divergence ratio between the 2 indexes has been much greater than historically - gambling on the high beta next csco of the world - which wont happen. As soon as they find something to replace cloud/saas maybe it rolls, until then a buy stop is the only ammo I have. The runup that has been architected is almost perfect - nothing too choppy. Gets pretty comical when every freaking value or swing scan I have is dominated by reverse leveraged etf's - trying to break us!
The other dogshit index is the SOX - guess I will wait til RSI(14) hits 100 to find a trade in there somewhere.
cool site.
CC,
just look at the prices of stocks. NOT the p/e bullshit which can be fucked with 24/7 but the actual prices of them.
20,000 for 1 share of a company that doesnt have real cash flow. 1999.
Regardless of the financial shape they are in the prices are so crazy to the middle to lower fucks cant even begin to play this game. Whew! 100shares of NFLX for 20,000/USD.
for an account with 100k you get maybe 400 shares for $100,000.
Just look at the average selling price of ANY stock. 4, 5 and 6 handles. Not to mention that there is nothing single digits anywhere except for the scam short ETFs.
Only people who can buy these shares are pensions...
it's not going to look this good in 4 months folks....
bet!
"what need is there for a high VIX and the expensive insurance, when Uncle Ben holds all the insurance policies on our behalf?"
With the full force of the U.S. Marines backing him, us the paper... "O" you know what I mean.
shouldnt the VIX be tied too... say when the QE is going to stop, I mean when it is supposed to stop.. and / or how much new money is added to the float...
Thinking about buying (not the farm) June 25 strike VIX once it falls below 14, terrible idea?
Whatever you do do not mess with the VXX ETN; a total sham in my opinion...
He's referring to buying an option the the actual VIX, not purchasing shares of VXX. TWO completely separate investment strategies.
+1000
contango!
Why have VIX go up? Everything is great. The Fed is in charge and the Congress and White House are in the pocket. The economy is great. Everyone who has a job is great. Everyone who rents instead or owns a house is great. Food and energy prices are great. Government spending without revenues is great. Taxes are great for improving government revenues.
Japan bails Portugal, China bails Spain, Mexico to bail California, Ontario to bail Illinois, Tunisia to bail Hungary.
The shell game is great!
VIX looks like it could tank back down to 1998 - 1999 levels.
Unreal breakouts today in chip land.
No sign of the market topping when economically sensitive stocks like chip equipment stocks are breaking out on 4x normal volume.
Those charts are popping wood. Unreal....
And job creation will be 500K a week by spring! (LOL)
P.S. The Fraud Bubble isn't just about bailing out insolvent banks, it's also about saving all the institutions that rely on Fraud St. for their existance!
Exhibit Numero Uno: BIG law firms (the ones that sweep all the illegality under the rug).
The critters grazing on pastures of ignorant bliss don't stand a chance!
God Love Ya Robo.. Fuckem if they dont get you Bro.
I get it. Helps to break up the echo chamber, even if I don't agree.
http://www.zerohedge.com/article/confessions-former-bear
The way this market is going we may be headed for S&P 1,500 which is seemingly absurd but the market is what the market is...trade the technicals but always know what is beneath the surface in terms of fundamentals.
!
What Robo forgets to tell you is these companies combined to make about half a billion or so in gains for their investors. Intel alone lost more than these guys gained.
He is using small and micro cap chip company surges as proof the market is not topping?
Usually when crap stocks get play like this - speculation is rampant.
+1
Looks like there are a lot of people who don't know anything else than read charts. ;-)
Everyone expects AAPL to report cosmic blow-out earnings on Tuesday. It would be a real shame, given this VIX setup, if for some reason they only did real well and beat by 20%. Of course those numbers are closely held, and none of the big shops have any inkling of what will happen...
When looking at that Vix chart any sensible person should be asking themselves a slight tweaking of Ronald Reagan's famous question :
"Are things better off now than they were four years ago ?"
Actually , the original would also suffice just fine .
The VIX looks like a big Tsunami wave that just passed. And now the wave is gone, we will start to see the damages and the real missery will start.
My God! I have been playing that card since SP 1260! I hope you are right! Thank goodness my PM holdings have offset the bearish bets....
Be careful-----The third year of a presidency is historically a favorable one for the markets – data indicates that on average, the S&P 500 gained 14.12%, and average gains were 17.7% under a Democrat party leader. The last time the market was down in a 3rd year was in 1939. That's 19 straight 3rd years in a row of being up. A stat the bears/shorts shouldn't ignore.
How does the third year of an extended economic depression usually do historically?
If its the 'depression' we're seeing today than id guess it'll do pretty damn well thanks to the infinite QEs ready to inflate everything.
Yes, but QE's cannot go on indefinitely. They are already proving, other than the stock market "stick up" (Yeah, melt up is old), unproductive. I hope you do well, and you should play the game. Know that the game will end.
Tricket pulled off a no panties Dancing With The Stars version of monetization while at the same time convincing markets interest rates are looking up.........11 out of 10 for Tricket.........bravo! bravo, Tricket!
QE's won't be needed much longer based on the strengthening economy. Retail sales have been outstanding, corp profits are strong and getting stronger as the outlook continues to improve. Manufacturing data has been solid. It's a slower growth yet solid recovery which is much more sustainable than rapid growth which could lead to future bubbles. IMVHO
if the training wheels are coming off then i guess it the modern version of the new deal and a new frontier of opportunity.
whatever it is, trade the price.
Lets just say that we have different interpretations of the data. The last bubble left is the currency. It will pop, but if I am wrong, and I pray I am, I will do fine. I hope you will store up a little extra (no need to go through the list) in case you are wrong. God Bless!
"The last time the market was down in a 3rd year was in 1939."
...eery similiarity..
"THE TOP:
The fourth and final bear market of the 1930s was preceded by a brief buying panic that began in August of 1939. That was the same month that Germany and Russia stunned the world with a nonaggression pact leading many observers to fear that a second world war was imminent. On September 1, 1939, those fears were realized as German divisions rumbled into Poland. After four years of failed appeasement with Germany, France and Britain declared war two days later. Nearly a decade of worldwide aggressions and confrontations had finally culminated into the second world war of the century. The U.S. immediately declared its neutrality, but Wall Street was giddy with the prospects of providing the combatants with the materials needed for war. Brokerage houses encouraged the buying frenzy by publishing statistics on how well the so-called "war bride" stocks performed at the outbreak of the first world war. The press was enthusiastic as well with Business Week presenting an article titled "War makes it sellers' market" in early September. By mid-September, Nation magazine ran an article titled "Boom is on." From a low of 131 in late August, the Dow rallied to a peak of 155 (a gain of almost 20%) by the middle of September (including a one day gain of 7.3% near the outbreak of the war). The rally was substantial, but the Dow was still below 1937's peak of 194 and 1938's peak of 158. Unfortunately for the Bulls, the buying panic was now over and the Dow would not trade at 1939's peak of 155 again until near the end of the war in 1945.
THE BEAR:
In the first few weeks of World War II, Germany's new blitzkrieg tactics quickly overran Poland. By mid-September, Russia entered the war by invading Poland from the east. French and British forces were unable to lend Poland their promised assistance and the gallant Poles were forced to capitulate to the overwhelming German-Russian forces by the end of September. During the "phony war" or the six month lull that followed the conquest of Poland, the Dow traded in a narrow 10 point range (145 to 155) as its initial exuberance at the outset of World War II faded. Wall Street was unmoved by Germany's successful incursions into Denmark and Norway in April of 1940, but its indifference would not last for long. One of the Dow's quickest, and most severe collapses in its history began with Germany's blitzkrieg into the Low Countries (Belgium, Netherlands, and Luxembourg) beginning in early May. The day before the "lightning war" into those countries commenced, the Dow stood at 148 which was only 7 points below its peak at the outset of the war eight months ago. In just one month's time, Allied forces were thoroughly routed and forced from the European continent in a humiliating evacuation at Dunkirk near the Belgian border. By mid-June, the German army marched into Paris and the French subsequently surrendered. During this period, the Dow plunged 25% to 111 as previously giddy investors realized that U.S. companies would have a hard time selling war products to defeated nations."
we'll see what happens next week! until then keep them puts in place and enjoy your weekend!
Terrific commentary by Jesse's Cafe today:
US Consumer Price Index (CPI) came in much higher than expected today. The Fed and Treasury are very concerned about managing the perception of inflation, even as they levitate the stock markets on excess liquidity to manage the perception of economic recovery amidst growing foreclosures and jobs losses. I was actually on the lookout for this one since the arrival of adverse economic data is the second greatest cause of a smack down in the metals, the first being key date such as an option expiration.
Those who do not think that the Fed and Treasury watch things like the price of gold are greatly mistaken. Much of the current activity of financial engineering these days revolves around the management of perceptions rather than real productive results. Its the modern American way.
TradingJoe, are you saying you really believe a correction is coming soon? I've been short SP w/Puts since 1257 and they just keep moving away. Who is really buying at these prices and multiples????
"Who is really buying at these prices and multiples????"
Banks, with free money.
Just like in 1918-1922 Germany.
Equities can't physically go down. The DOW will reach 15,000 by June 2011.
Of course, but in my opinion this is treason. How can banks, backed by the taxpayer, speculate in the financial markets? Oh, I get it now. Glass/Steagal. Right. Backed by R's and confirmed by D's. Two-sided coin. Does anyone get it? And if so, why do we tolerate it?
Lots of Democrats and Republicans in the USofA, just a very, very few left within the USofA that are AMERICAN.
I agree. 'American' is not what it used to be. When I grew up (late 60's, early 70's), integrity meant something. Nowadays, integrity is not even a word they teach in schools...
Welcome to the USofI...
If you're a professional insider, or a day trader with the balls, the inflation trade is obviously there to churn for short-term profits.
Personally, I can see what's coming in the longer term (3-5 years) and since I've got a business to run that still generates income, I'd rather not watch the pulse of Ben the Bernank's braindead zombie on life support...
There are better ways to live, and create productive wealth, than be intimately involved with fraudsters, hucksters and whores!
P.S. Buying PMs shouldn't be about "profits", it should be about securing one's wealth and voting against the fiat ponzi bubble insanity!
.
"Who is really buying at these prices and multiples???"
Robots
The market is looking like it may not correct until after earnings. So far, they have been outstanding and it would have to take some major event outside the markets to get a correction now. 1340 might be the spot for a pullback. IMVHO!
Just keeps getting more and more insane. Liquidity driving these stocks higher and higher, lets see if earnings really substantiate these prices or is it just the Bernank. Went to all cash today, gold in another correction, cannot buy stocks on what I see out there, so will just hold cash for now.
Can always buy CMG after the burrito maker hits 300. And, no shorts.
Algos, computers and heggies are buying every day. I know very few people in the stock market now. Baby boomers my age took out what they had left after the last dump. But they can keep it going. Shorts just do not work with notable exceptions. And I luv to short an overbought market. But am not smart enough to know when to short this absurd situation.
Do I hear 44 million on food stamps next month?
"Keep in mind, a VIX of about 15 is needed for the swaption market to function" Uhm, what???
I'm guessing that whatever the VIX signals to the swaption market will get lost in the noise floor if the amplitude < 15.
What Robo forgets to tell you is these companies combined to make about half a billion or so in gains for their investors. Intel alone lost more than these guys gained.
He is using small and micro cap chip company surges as proof the market is not topping?
Usually when crap stocks get play like this - speculation is rampant.
Wow!....... that is so deep.
dang, so wish I had some money to short that VIX thing. Could make a million or two.
............. "The fundamentals that support heavy-duty commercial vehicle demand are all signaling the start of an upcycle for the market, according to ACT Research Co. Net orders for both Class 8 vehicles and commercial trailers surged in the last quarter of 2010, indicating trucking fleets are ramping up replacement of vehicles that has largely been deferred the past two years.
In the latest release of the ACT North American Commercial Vehicle Outlook, ACT projects full-year 2010 production of Class 8 vehicles approximately 154,500 units, up 31 percent from a weak 2009, but still well below normal replacement demand. ACT forecasts that demand will continue to ramp up over the next two years, with production in 2012 and 2013 exceeding 300,000 units.
Production of commercial trailers was extremely weak in 2009, but the latest forecast from ACT expects the sector to post annual growth rates in excess of 50 percent in both 2010 and 2011.
"The combination of rising freight volumes, improving trucker profits, rising used equipment values and the oldest North American fleet on record have led to a resurgence in demand for new commercial vehicles," said Kenny Vieth, president and senior analyst with ACT Research. "The biggest constraint in 2011 will be the ability of equipment manufacturers and component parts suppliers to ramp up production fast enough. As a result, the upcycle is expected to last through 2013," added Vieth." .......................
..... "After an encouraging 2010, U.S. railroads got off to a good traffic start in 2011. During the year’s first full week, which ended Jan. 8, they originated 285,108 carloads, up 20.1 percent, and 213,665 containers and trailers, up 8.6 percent compared with volumes from 2010’s first week, according to the Association of American Railroads (AAR).
Container volume jumped 10 percent and trailer volume rose 1 percent. In addition, 15 of 20 carload commodity groups — including two new groups, iron and steel scrap, and waste and nonferrous scrap — registered year-over-year gains.
Coal volumes climbed 22 percent. Lower utility inventory levels and the potential for colder-than-normal winter weather in the East support railroads’ optimism about near-term utility coal demand, according to Robert W. Baird & Co. Inc.’s latest “Rail Flash” report.
“Additionally, headwinds from lower natural gas prices have begun to moderate as natural gas prices move north of $4 per BTU,” Baird analysts said in the report.
Canadian railroads had a good first week, too, with carload volume up 5.4 percent to 70,742 units and intermodal volume up 3.4 percent to 44,314 units. Mexican railroads reported week No. 1 carloads totaling 12,959 units, down 1.1 percent, and intermodal volume totaling 6,059 units, up 2.9 percent compared with figures from 2010’s first week.".............
All selling to Asian economies no doubt!
Just about everything, and more.
... with the leveraging up we've got *everywhere*.
Brent crude at $98...big spread from WTI at $91.54. Eurpoe is going to start to feel a pinch if Brent stays up that high.
"Europe is going to start to feel a pinch if Brent stays up that high"
The Bernank says "pinch this", as long as wages don't go up there is no inflation....Party on.
Look for WTI to follow Tapis as it is probably an indicator of where demand growth will be coming from.
http://www.bloomberg.com/apps/quote?ticker=APCRTAPI:IND
TAPIS - $104.45.
Primary Marker Crudes
WTI (US)
Brent (Europe/Africa)
Dubai and Oman (ME)
Tapis and Dubai (Asia)
Cookoo's nest.........the sedatives and lobotomy are working.
who is better in the winter of 2011 than the summer of 2007
We know thanks to Frontline's (PBS) Video timeline - Explore a timeline video chronicling the tide of regulation and derivitaves. Also the only hero in this disgusting mess, Brooksley Born. A woman I would love to meet and give candy to on valentine's day. All others in this video of "The Warning" are scum, for not making a stand and doing what was right and just. To hell with the CDO's and swap markets, if you want a low risk business investment, hire someone to do the legwork and filter out the bad investments, do not use the american people as a backstop. Myself I just started to pay attention to financial goings on just recently. I wish I had also done something to help stop the fraud.
Can anyone out there explain the core beliefs of the equivalents in power today of Greenspan, Summers, Rubin, . This documentary uncovers the core beliefs of these thugs, and the Presidents, all guilty.
Does Bernanke, Geithner, Gensler, etc all believe in the status quo of no govt regulation, pro business-defacto against the american people financial security, what are the core beliefs of the present bunch. We need some prosecutions and claw backs, and dismissals from office, soon. Someone enlighten me on the present status quo, what are their core beliefs, and what is the direction they a taking to achieve this?
How about consumers? Are consumers also responsible?
Whats comming up in the next few weeks ?
Muni debt & Debt ceiling
That accompanied with the throddling up of residential mortgage foreclosures, resets and default commercial turnovers is gonna rock the markets.
"Shhhhhh" Bernie is gonna take care of it.
Notice how the NEW TERRORIST as stereotyped by the MAINSTREAM MEDIA are WHITE DUDES in a suit and tie like Mr. Vincent McCrudden??
Watch the YouTube video "The New American Terrorist ~ Regular Joe's" at (http://www.youtube.com/watch?v=bz9E5aTURWE).
Anonymous-
Isn't American tyranny great? I can't wait for the Gestapo to knock on my door and jail me for being a capitalist!!!!
What the flying fuck is going on with ABX (Barrick Gold)? It should be skyrocketing right now. Instead, its down >10% from its peak even though gold is barely down.
Yet AAPL keeps skyrocketing even though anyone with any brain knows that the consumer is tapped out and isn't going to spend ridiculous amounts of cash on AAPL's overpriced stuff.
Does this mean I should take out a home equity loan and buy Citi like Cramer said today?
VIX is that inversely proportional of risk.
You just have to turn down the chart to understand that when VIX is low it
means that risk is high, not the opposite.
Low volatility means the markets brittle, expect a 'break' real soon!
you need to move your dates back, to say 2004-2007, when the VIX pretty much stayed below 16-17 for like 3 years. why do people so easily forget that?
We've gotten away with it by growing
private debt for the last 40 years. Now
that debt is literally too high to be grown
higher, so this time is different. Look at how weak
JPMs top line actually is for a vision of
the future. (Yes, yes...they've masked the
weakness by adding loan loss reserves
back into earnings)We're still pushing on a
string. And we will be for the duration.
Japan, bitchez.