Because what's two weeks between propaganda spewing friends?
If nothing else we have learned it doesn’t matter how obvious the lie is if people don’t want to know the truth.
While many will claim otherwise, often those who are awakening just want the system to be ‘fixed’ so they can go back to sleep.
Financial markets are broken. Fundamental analysis and Modern Portfolio Theory are relics of the past. Investors used to care about maximizing a portfolio’s expected return for a given amount of targeted risk. Fed policies have led to (investor) herd behavior that has plunged market volatilities and manipulated asset prices and correlations to lofty levels. The allure of the Fed’s magic spell has lapsed investors into a soporific state of cognitive dissonance, with them focusing more on trying to justify valuations, rather than on the Upside Downside Capture Ratio. Markets have thus mutated into one of two possible combustible states. Either financial assets have all transcended into prodigious bubbles, or stocks and bonds are signifying two completely separate outcomes. Either possibility will have dangerous repercussions for the economy, and for portfolios and investors.
It is the effective manipulation of our belief systems that enslaves us to the present day insanity.
Canada Releases Atrocious Jobs Data; Then Revises It Above The Highest Estimate Following Public OutcrySubmitted by Tyler Durden on 08/15/2014 09:08 -0400
This morning it was take two for the Canada jobs print, which was as follows: In July, Canada employment increased 41.7K in July according to Statistics Canada, from -9.4K in prior month. This was about 41K higher than the previous "erroneous" print, and double the original estimate: high enough to make everyone happy. In fact, it was so high, it surpassed the highest range of the forecast, which topped out at 41.4K based on 20 economists.
The prospect of renewed war has little effect on the public anymore. But in reality, we can’t begin to understand how it feels to live under the threat of bombs and shrapnel every day. As Americans, and Westerners, we are gifted with the option to not partake directly in war, but play the casual observer. Is this really human progress? Have we reached the pinnacle of human existence where men can live comfortably cheerleading for mass murder? Did anybody think to question this outcome of secular materialism before celebrating its benefits?
In so many ways caged from birth, is it any wonder we exhibit clear and disturbing signs of depression, neurosis and self destructive behavior?
Okay, so American culture may be a little schizophrenic. So what? Why should we care? We believe in laissez-faire and non-intervention, so how is it our problem?
We warned last month that under the covers Chicago PMI looked a lot weaker than the headlines and this morning's collapse confirms that. Against expectations of a small rise to 63.0, Chicago PMI plunged from 62.6 to 52.6 (13-month lows) for the biggest miss on record. According to the release itself, "A monthly fall of this magnitude has not been seen since October 2008 ." The was an 8 standard-deviation miss from analyst expectations (Joe Lavorgna was on the high side at 63.0). New orders, inventory, production, order backlogs, and prices paid all dropped (but employment rose?). This is the biggest 2-month drop since Lehman (and 2nd biggest since 1980). We await the seasonal adjustment "correction" as MNI get the call from Yellen.
The continuity bias is astounding as many with assets address this as an “extra rough patch” to get through rather than the clear paradigm shift it has been telegraphed to be.
The revolution is already in motion. It is a peaceful and intellectual revolution - not one of violence or force, and that is why it will succeed.
The promises of the master, used as currency to compel and reward our willing participation, can no longer be fulfilled since the economic system that is the ultimate delivery vehicle for those promises is about to sink beneath the waves.
Of course the surveillance police state is not used to control the individual, but rather the herd which in turn controls the non sovereign individual.
"In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” - The Fourth Turning - Strauss & Howe – 1997