Elizabeth Warren may or may not understand the "global banking system" as Jamie Dimon alleges, but the JPM CEO certainly does as the following 14 "reasons" clearly confirm...
Faustian bargain: An agreement in which a person abandons his or her spiritual values or moral principles in order to obtain wealth or other benefits. A deal with the devil.
The argument over the existence of an Elite, who plan to control the entire world under a New World Order like some great yo-yo, has been around for a long time. Not surprisingly, events created by world leaders of all stripes in recent years give rise to an increasing belief in the likelihood of the existence of such an effort.
It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier? Well, yes there are. They spread this lunacy from the most respectable MSM platforms.
"...with each passing session the casino is getting more dangerous, but the lemmings have no clue and the narrative gets ever more specious."
"The Fed has dragged out the normalization of interest rates way beyond what is prudent... At some point... the market is going to say ‘on my god, we’re so far behind the curve’ and force an adjustment that is going to be wrenching... when this “wrenching” adjustment kicks in, it would turn into a market disruption at a level “seven or eight” on a scale of 10, with 10 being the worst."
Distract, deny, democracy...
How The Second Tech Bubble Will Burst, In The Words Of Silicon Valley's "Poster Child" And World's Youngest BillionaireSubmitted by Tyler Durden on 04/23/2015 22:30 -0400
"Fed has created abnormal market conditions by printing money and keeping interest rates low. Investors are looking for growth anywhere they can find it and tech companies are good targets - at these values, however, all tech stocks are expensive - even looking at 5+ years of revenue growth down the road. This means that most value-driven investors have left the market and the remaining 5-10%+ increase in market value will be driven by momentum investors. At some point there won't be any momentum investors left buying at higher prices, and the market begins to tumble. May be 10-20% correction or something more significant, especially in tech stocks."
Warren Buffett is revered all over the place, but in reality, he’s the schoolbook example of everything that’s wrong with America. That whole money before and over anything else (including people’s health and well-being) mentality. It makes people stupid, and it makes for stupid people. And sick ones, too. This Tragedy of the Commons abuse is so ingrained in the economy that it’s hard to see how it can be changed. And that does not bode well for anyone except the Warren Buffetts profiteering from it.
So what has transpired is another day and another play in the casino. This ketchup and mac merger could not be more emblematic of how the Fed’s destruction of honest financial markets has fatally deformed American capitalism. Warren and Jorge are understandably singing Janet’s praise. Everyone else should be getting out the torches and pitchforks.
What in god’s name does Janet Yellen think she is doing? Just a few weeks ago she established the ridiculous Fedspeak convention that “patient” means money market rates will not rise from the zero bound for at least two meetings. Now she has modified that message into “not exactly”.
Once again we found ourselves bewildered while watching financial discussions on television. All one needs to do to follow along is forget your rational objective analysis at the door, have another glass of the proverbial “Kool-Aid™, and chant with the
congregation panel “everything is just awesome!” Why? Because it’s in the “numbers!” When you listen to most of these debates by economists using today’s “numbers” one can’t help but think any release of data must be taken as holy writ. For our money, when it comes to this new theology of economics, we’d rather be with the heretics. Maybe we don’t understand how they can believe the numbers they recite. But we do no one thing above all else. We won’t partake in the Kool-Aid.
It’s no longer about which factors bring down oil prices, that’s old news; it’s about what oil prices bring down. The oil price drop is a much bigger event than the US subprime housing crisis, it’s bigger than everything put together that happened in 2008. And this time, central banks are lame sitting ducks. Omnipotence is a harsh mistress. She tends to backfire.
In Canada, there seems to be a cult belief that housing simply will not correct. They are full on drinking the good old tasting real estate Kool-Aid. Canada has enjoyed many years of the global commodities boom and now finds itself contending with a market full of debt and inflated housing values. Short of oil rising back up to $80 a barrel or higher, Canada is likely going to face some short-term pain. The housing market is due for a correction.
The Next Time The BIS Wants To Warn About Monetary Kool-Aid, Bubbles, Lack Of Liquidity Or Complacency...Submitted by Tyler Durden on 10/31/2014 14:04 -0400
We have a modest proposal to the Bank of International Settlements, aka the "central banks' central bank": the next time you feel like warning the general public about: "low volatility everywhere" or that asset prices are at "elevated" level, that "it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally", that "despite the euphoria in financial markets, investment remains weak" that "the temptation to go for shortcuts is simply too strong, even if these shortcuts lead nowhere" that "As each day goes by, it seems less and less likely central banks can now really do “whatever it takes”, maybe it should discuss its asset-bubble, volatility-crushing, impotent-central banking concerns with its Board of Directors first?
We didn’t get what we first postulated yet: Crisis became calm. Contagion became cured. And last but not least catastrophe morphed into an even grander state of complacency. What we did might be even more illuminating. Here’s what a few of us also know that we are not “wrong” about:"When a monkey throwing darts can outperform most of today's so-called 'best of the best' hedge funds – we’re going to put our money on the monkey, rather than putting it anywhere close to where these people can put their hands on it for their own personal self-serving monkey business." What we don’t need – nor want – is another bowl of the 2008ish tripe washed down with this years new flavored Kool-aid.