Reality

“We started Vote or Die, and the whole process was all full of shit. The whole shit is a scam... At the end of the day, I’m not telling you not to vote. But I’m saying be a realist and know that they’re motherfucking kicking some bullshit up there,”

"The ability of corporations to take a 1% to 2% revenue line [gain] and turn it into 5% to 6% profit growth is waning. They’ve run out of rabbits to pull out."

Having soared 175 pips in two days, on the back of ECB and PBOC actions, USDJPY is rolling over this morning as a senior adviser to Japanese PM Shinzo Abe tells Reuters that The Bank of Japan "can wait a while" before easing more. This follows another adviser's comments on Friday that "further easing wasn't necessary." With a trail of broken markets (bonds first and now stocks), and broken promises (only 25% of Japanese now believe Abenomics will boost the economy), Abe faces an uphill battle in winning the fight against the "deflationary mindset" that officials have been so adamant they have already won.

Can the stock market completely ignore these five key changes and keep powering higher on the fumes of Mario Draghi's promises?

A majority of Americans live in a fake world created by propaganda. They are disconnected from reality.

Doing as Yellen and her counterparts demand is the biggest risk of all. The Yellen Doctrine requires that central banks be both correct and able, abilities that have been (and can only be) in utter short supply. Her view would show more proactive and effective central bank management where only reactive and impromptu, last minute white-knuckling has abounded. Central banks have been in the past year only holding on for dear life, which is where obscurity has been their benefit. In the end, however, it will bring about their own downfall as it only serves to make matters worse. Yellen wants the central bank to be viewed as almost godlike, but they continually reveal themselves weak, deceptive and ineffectual; eschewing all long run sustainability in order to just make it through one day at a time.

One would think that 'little incident in August' never happened. Yes, the markets once again rewarded the BTFD crowd. But (and it’s a very big but) not because it’s a market. This is what takes place in a casino. Confusing financial market expertise and casino gambling is the mistake today’s “bull” crowd keeps making. And just like most gamblers – the odds turn out of your favor just when you believed you had “the” sure-fire system to beat them.

Hey, everybody. Look, I sort of fell out of the public eye once people stopped eating Wheaties, and I'm glad to have a second career as a reality show freak.

Following the latest hedge fund underperformance, it is no longer possible to ignore the obvious:in the year in which central banks will unleash the greatest amount of liquidity in the "markets" in history, and where we have seen at least 77 easing steps taken by global central banks, hedge funds are poised to record their worst performance since 2011, according to JPM.

The philosophy of individualism is the foundation of a free society; it is the basis of a community of men that does not require or demand the sacrifice or enslavement of some for the one-sided benefits of others. Individualism is the premise of a morality for mankind that recognizes and respects the liberty and dignity of every human being. It is the ethical philosophy of freedom.

The powers that be have lost control. After almost a century of playing the Wizard of Oz, the curtain is disintegrating. Institutions to ensure control, stability and prosperity are failing. People and markets were not to be trusted and most of these institutions were established to protect against such freedom. Bureaucrats, central planners and big governments were to be the answers for a better world. The damage of nearly a century of this nonsense is suddenly becoming evident. Things fall apart is characterized by institutions that no longer are trusted or believed in.

It’s no secret that the Social Security system is effectively one giant Ponzi scheme. Actually, I think it’s worse. That’s because the government uses force and the threat of force to coerce people into it. People don’t have the option to opt out. They either pay the tax for Social Security or someone with a gun will show up sooner or later. I imagine Bernie Madoff’s firm would have lasted a lot longer had he been able to operate this way.

America is a nation divided, not only upon the means we should use to attain our ends in the world, but upon the ends themselves.

The insane lie that cultural Marxists seem to have conned themselves and others into believing is that their “activism” is somehow anti-establishment. In fact, social justice is constantly coddled and supported by the establishment. From politicians to judges to media pundits to the blogosphere, the overwhelming majority of people in positions of traditional power (even in supposedly conservative circles) have been more than happy to become the enforcers of the social justice warrior agenda, an agenda representing a minuscule portion of the public. There is no establishment for the PC army to fight; the establishment bias works vastly more in favor of their ideology than any other. Cultural Marxists ARE the establishment.

"On the current trajectory, we doubt the market can stay stable beyond a few quarters, especially if some SOE and/or LGFV bonds indeed default."
- Bank of America