CRAP

Tyler Durden's picture

No One Told You When To Run, You Missed The Starting Gun





They may be able to engineer a stock market rally to further enrich themselves, but they can not propel the real economy of 318 million people. Our consumer society is dying – asphyxiated by debt – shorter of breath and one day closer to death. I’d love to offer some sage advice on how to fix this problem, but it’s too late. Too many people missed the starting gun.

 
Tyler Durden's picture

What The Fed Has Wrought





The financial, economic and political system has been captured by corporate fascist psychopaths. The Federal Reserve has aided and abetted this takeover. Their monetary manipulations have resulted in this deformity. The American middle class has been murdered. Decades of declining real wages have left them virtually penniless, in debt up to their eyeballs, angry, frustrated, and unable to jump start our moribund economy by buying more Chinese produced crap. Yellen, her Wall Street puppeteers, and the corporate titans should enjoy those record profits and record stock market highs. The artificial boom will lead to a real depression. Luckily for the oligarchs, most middle class Americans are already experiencing a depression and won’t notice the difference.

 
Tyler Durden's picture

Bread, Circuses, & Bombs - Decline Of The American Empire, Part 2





"The evil was not in bread and circuses, per se, but in the willingness of the people to sell their rights as free men for full bellies and the excitement of the games which would serve to distract them from the other human hungers which bread and circuses can never appease. The moral decay of the people was not caused by the doles and the games. These merely provided a measure of their degradation." The moral degeneration of the American populace, like the Roman people before them, happened slowly over time as they sold their liberty, freedom, and self-respect for full bellies, an endless array of modern day distractions, and promises from their highly educated rulers they would be taken care of and protected from all threats to their well-being, whether foreign, domestic, physical, mental, or social.

 
Tyler Durden's picture

Keynesian Shangri-La From Myth To Reality





In less than the time it takes for a chrysalis to release one of life’s remarkable transformations, many once called “capitalists” woke to find the world they once new changed into something only dreamed or told in folklore. In this new fairytale land there must certainly be a pot of gold at the end of every “rainbow.” However, one would be mistaken. For one must remember this is a “Keynesian Shangri-la” and gold here is useless. Today, at the end of these self propagated rainbows lies a Central Bank ready and willing to print as much money as one needs to see those vivid colors so plainly; only the term Technicolor® seems appropriate as a descriptor. “Markets right themselves with pain… That’s Capitalism. Back room manipulation to avoid pain only increases the severity of the pain to be felt down the road.”

 

 
Tyler Durden's picture

Christmas In October - Desperate Measures





Our entire economic paradigm is built upon desperate measures. Zero interest rates, $3 trillion of QE, systematic accounting fraud, fudged economic data, and doling out subprime loans to auto renters and University of Phoenix wannabes have failed to revive our moribund economy. Delusions don’t die easily. But they do die. We are reaching the limit of this delusionary dream built upon debt, denial, and deception. Make sure you wolf down that Thanksgiving feast before 5:00 pm. There are HDTV’s to fight for at 6:00 pm.

 
EconMatters's picture

Low Rates and QE are Deflationary at the Zero Bound





We know low interest rates and QE hasn`t worked, or they wouldn`t have to be re-initiated in the form of additional QE Programs, and we wouldn`t still be having this entire conversation 7 years after ZIRP began.

 
Tyler Durden's picture

Silicon Valley Insider: "If 2000 Was A Bubble Factor Of 10, We Are At A 9 Right Now"





"Silicon Valley as a whole... is taking on an excessive amount of risk right now. Unprecedented since '99." The widely accepted model is that it's acceptable for companies to be "[b]urning cash and losing money.. with the emphasis on the losing." "It reminds me of 2000, when investment capital was flooding into startups and flooded a lot of marginal companies. If 2000 was a bubble factor of 10, we are at an 8 to 9 in my opinion right now."

 
Tyler Durden's picture

Meanwhile, In Front Of Apple Stores In New York And Around The World...





While none of these people, many of whom are unemployed and paid by others to stay in line for days, will spend the $3,600 someone in China just paid for a "gold" iPhone, they will gladly pay hundreds of dollars out of pocket, or in many cases simply lease with zero money down, the latest and greatest aspirational gadget to show they are cooler than they actually are.

 
Tyler Durden's picture

Kohl's And The Rest Of The Retailers Are In Deep Trouble





When you see the headlines touting strong retail sales, you need to consider what you are actually seeing in the real world. RadioShack will be filing for bankruptcy within months. Wet Seal will follow. Sears is about two years from a bankruptcy filing. JC Penney’s turnaround is a sham. They continue to lose hundreds of millions every quarter and will be filing for bankruptcy within the next couple years. Target and Wal-Mart continue to post awful sales results and have stopped expanding. And as you drive around in your leased BMW, you see more Space Available signs than operating outlets in every strip center in America.

 
Cognitive Dissonance's picture

9/11 - The Ultimate Litmus Test





If nothing else we have learned it doesn’t matter how obvious the lie is if people don’t want to know the truth.

 

 
Tyler Durden's picture

Meet The "Access To Affordable Mortgages" Act: How Congress Will Create The Next Crisis





Say hello to the next financial crisis, brought to you courtesy of the dumbest new bill of the week: H.R. 5148: Access to Affordable Mortgages Act.

 
Tyler Durden's picture

Just How Bad Is Europe's Banking System? ESI Bonds Bid At Just 2% Of Face





Just three months ago, everyone was a believer: bonds traded well above par, Europe's recovery was on track, and Portugal's banking system was a shining example of how Europe's bailout program worked (and Goldman was pitching SPVs full of this crap to any and all greater fools). Today - the ugly truth is exposed as Bloomberg reports, Espirito Santo International debt attracted potential buyers at just 2% of face value. Of course, the words "contained" are trotted out to explain how this is a one-off and not at all representative of the rest of the European banking system. But... Howard Marks' Oaktree Capital seems to disagree - "We continue to think Europe will provide a substantial quantum of attractive investment opportunities for all of our strategies and in particular distressed debt," as a record amount of bad loans are being offloaded by European banks ahead of the stress tests.

 
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