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Get'cher Dow 13K Hats Here...

Tyler Durden's picture


Retirement-Off! The Dow just crossed back under the magical 13,000 level for the first time in two months...Having crossed this rubicon for the first time on Februray 21st, we can reflect on eight months well spent... and the sound of millions of retirees sifting through the 'Help Wanted' pages is deafening - as those 'young-people' that voted for change will continue to participate less in the workforce.

Dow 13000...


A two-month roundtrip of hope...


And the reality in our country...


The New Normal: "Sell in February and go away"


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Wed, 11/07/2012 - 11:25 | 2956029 spastic_colon
spastic_colon's picture

probably see 13k again today VIX is again being gamed

Wed, 11/07/2012 - 11:28 | 2956047 derek_vineyard
derek_vineyard's picture

 13K inflation adjusted =  ???

Wed, 11/07/2012 - 11:47 | 2956136 hedgeless_horseman
hedgeless_horseman's picture



WMT up 23% YTD, with a 2.16% div yield.

The business model of old employees, EBT card acceptance, bad food, and cheap clothing is strong.


Wed, 11/07/2012 - 11:54 | 2956176 Atlas_shrugging
Atlas_shrugging's picture

At what level has Buffett sold billions in S&P puts to finance his oligarchy?   Will be fun to watch him defend and ultimately surrender like S&P 1,000 the last go-round…

Wed, 11/07/2012 - 11:54 | 2956219 SeverinSlade
SeverinSlade's picture

Republicans now have zero incentive to agree to any fiscal cliff deal.  The longer they hold out, the more they gain.  A deal will not be reached until the last minute as I said previously.

S&P 1260 here we come.

Wed, 11/07/2012 - 13:46 | 2956272 Karl von Bahnhof
Karl von Bahnhof's picture

Warr Stleet levenge!

Wed, 11/07/2012 - 13:21 | 2956826 Vince Clortho
Vince Clortho's picture

Not seeing S&P dropping now with Qeternity.

40 Billion a month buys the S&P wherever they want it.

A random thought:  Can you have a fiscal cliff with unlimited printing?

Wed, 11/07/2012 - 11:42 | 2956145 redpill
redpill's picture

Overlay of Nikkei 225 circa 1990?

Wed, 11/07/2012 - 11:43 | 2956153 spastic_colon
spastic_colon's picture


Wed, 11/07/2012 - 11:49 | 2956185 vast-dom
vast-dom's picture

how perfect would obummer winning being the black swan that crashed markets today like SP 650?

Wed, 11/07/2012 - 11:57 | 2956229 Spastica Rex
Spastica Rex's picture

Maybe black, but certainly not swan.

Wed, 11/07/2012 - 13:40 | 2956949 blunderdog
blunderdog's picture

Black swans just ain't what they used to be.  They used to be something unexpected and rare.

Now they're just anything someone might think is kinda bad.

Wed, 11/07/2012 - 11:29 | 2956052 LawsofPhysics
LawsofPhysics's picture

expected.  there is no "market".  Paper shorts, gold, and VIX related things will all be kept in check.  Now about that physical world...

Wed, 11/07/2012 - 11:35 | 2956092 The Wizard of Oz
The Wizard of Oz's picture


Wed, 11/07/2012 - 11:42 | 2956144 pods
pods's picture

That is what is going on.  I read on Kevin's facebook page that he is off to a ski trip in Colorado.

You can only smoke hopium for so long before you need the good stuff.


Wed, 11/07/2012 - 11:25 | 2956030 Calidreaming
Calidreaming's picture

I hope this POS mother fucker gets down to 5k faster than you can say Obama Care

Wed, 11/07/2012 - 11:29 | 2956057 buzzsaw99
buzzsaw99's picture

Yeah, like it should have when that hank paulson fuckwad extorted congress.

Wed, 11/07/2012 - 11:26 | 2956032 icanhasbailout
icanhasbailout's picture

For added fun the NASDAQ broke 3k to the downside and the S&P is doing the same with 1400

Wed, 11/07/2012 - 11:27 | 2956033 Captain Benny
Captain Benny's picture

Can we finally have the dip we've been waiting over a year for????  Its actually fun to see AAPL spiral downward after testing its 200d.

Wed, 11/07/2012 - 11:27 | 2956035 Hedgetard55
Hedgetard55's picture

Help us Obi Wan Bernanke!

Wed, 11/07/2012 - 11:31 | 2956036 derek_vineyard
derek_vineyard's picture

10Kby2k  <my screen name on AOL in 1990's

10Kby2k15 w/ cpi-w at 300     <my prediction

Wed, 11/07/2012 - 11:41 | 2956138 Dr. Engali
Dr. Engali's picture

We will see 10k in 2013

Wed, 11/07/2012 - 12:22 | 2956405 RSloane
RSloane's picture

Absolutely, Doc.

Wed, 11/07/2012 - 11:27 | 2956037 -1Delta
-1Delta's picture

Crowding out younger workers? bullshit


Young workers just want the check from the gov.... EBT participation more likely....

Wed, 11/07/2012 - 11:29 | 2956058 Captain Benny
Captain Benny's picture

Younger workers are definately being crowded out of the marketplace.  Just look around at any non-retail job and you'll see its dominated by a much older workforce who has no intention of retiring any time soon, because they're still paycheck to paycheck themselves.

Wed, 11/07/2012 - 11:33 | 2956080 -1Delta
-1Delta's picture

yes but the young workers dont care to work- not even a competition.. they just want the check/EBT card.



Wed, 11/07/2012 - 11:45 | 2956167 pods
pods's picture

I guess now that we can put away the red/blue false dichotomy we can get back to the young/old one?


Wed, 11/07/2012 - 12:42 | 2956566 -1Delta
-1Delta's picture

so true

Wed, 11/07/2012 - 11:42 | 2956139 localsavage
localsavage's picture

Nearly every under 35 that I know is a lazy Socialist who sits on ther ipone / pad / pod complaining about how hard it is to be them.  They are happy to work for beer money as long as they can live at home and still get the latest iproducts to impress their friends.

Wed, 11/07/2012 - 12:21 | 2956404 Ballin D
Ballin D's picture

Fuck off.  I went to school for a BSBA in finance, got good grades, was involved on campus, leadership experience, passed the CFA L1 right after graduation and have been working my ass off to find any finance/accting/business job that I can and I am still unemployed today.  I am not alone.  There might be a lot of fucking losers coming out of school but there is not much of a reason to try when people like me cant even find an employer to grant them the privlege of interning for free.


Ill be going on any form of welfare/foodstamps I can get once I pass that one year unemployed mark and I hope it comes straight out of your pension.  Maybe Obama will spot me an iToy.

Wed, 11/07/2012 - 12:46 | 2956481 hedgeless_horseman
hedgeless_horseman's picture



Willing to move to Texas? 

No state income tax. 

Net exporter.

Lawmakers only meet for a few weeks every other year.

Right to work state (few unions).

Leading the nation in job creation for many years.

Plenty of cheap labor.

Plenty of ignorant competition.

Texas, if you can't make it here, you probably can't make it anywhere.

Wed, 11/07/2012 - 14:17 | 2956643 Ballin D
Ballin D's picture

Willing to move to Afganistan for the right experience haha.  Ive applied for a few leadership/financial development programs that happened to be in texas but Im taking a closer look now.  Thanks for the tip.  It looks to be a bigger hub than I had thought and there are some good opportunities in energy in particular.

Wed, 11/07/2012 - 14:42 | 2957255 Nobody For President
Nobody For President's picture

You have the bs machine going - I know plenty of 20 somethings, mostly college grads, that are way underemployed - but working while they look for something closer to their skill level, and are not finding it. I don't know what crowd you hang with, but the vast majority of young people I know are working, about 1/4 working two crap jobs, while trying to find a better job. None of them is asking the gubermint to help them.

Wed, 11/07/2012 - 11:27 | 2956038 Kreditanstalt
Kreditanstalt's picture

What young person wants a career flipping burgers or greeting Walmart customers anyway...?

Wed, 11/07/2012 - 11:40 | 2956125 Shizzmoney
Shizzmoney's picture

Right.....maybe its the young people demanding for better working conditions, more say and a better understanding of why their pay isn't keeping up with living costs (thanks, Bernanke!), and being fed up with peddling Chinese crap while being suppressed at a corporate gig where management just does not give a fuck about them when it comes to nut cutting time.

"Take your job at Walmart, serf". 

NO person at America, young, old, etc.......should have to settle for this crap.  Dissent is waning and it's not because of desire...we read the internet.  It's there.

Desent is waning because corporations and the political elites spend billion of dolalrs telling the uneducated masses that settling is OK.

That's the one thing I cant stand fro mthe professional left" - they tell you its OK to settle, that the "good jobs are coming". It's all bullshit, just like the GOP and their hatred of women, brown people, and taxes on big corporations (but it's OK to raise *my* taxes, tho).

Wed, 11/07/2012 - 12:10 | 2956321 Louie the Dog
Louie the Dog's picture

Yeah, why flip burgers for a year or two when you know damn well you're qualified to be a CEO if only those old 60 yr.olds would just step down and hand the keys to the executive washroom to you.

Life just isn't fair anymore..

Wed, 11/07/2012 - 11:28 | 2956042 Sudden Debt
Sudden Debt's picture

Why aren't those kids in the army? America is at war with everybody right now and they need fresh meat on a daily basis!


Wed, 11/07/2012 - 11:28 | 2956045 e-recep
e-recep's picture

Darn it, Ben is not printing fast enough. 

Wed, 11/07/2012 - 11:28 | 2956048 Dr. Engali
Dr. Engali's picture

I'm ordering my DOW 4000 hat now.

Wed, 11/07/2012 - 11:31 | 2956072 malikai
malikai's picture

Hey maybe it will be at 4000 when you get the hat - next tuesday.

Wed, 11/07/2012 - 11:29 | 2956050 pragmatic hobo
pragmatic hobo's picture

what's up with vix? It's 18 and a change?

Wed, 11/07/2012 - 11:29 | 2956051 Slope of Hope
Slope of Hope's picture

Where do I sign up for some of the Gubment free shit?

Wed, 11/07/2012 - 11:30 | 2956059 LawsofPhysics
LawsofPhysics's picture

you really think a "free market" exists?  Bah ha ha ha ha ha !!!!

Wed, 11/07/2012 - 11:32 | 2956076 Jason T
Jason T's picture

oh, ask my friend in Ohio, she'll tell ya

Wed, 11/07/2012 - 11:38 | 2956097 hedgeless_horseman
hedgeless_horseman's picture



Where do I sign up for some of the Gubment free shit?

What type of benefits are you looking for?


Wed, 11/07/2012 - 11:41 | 2956124 Captain Benny
Captain Benny's picture

I'd like to benefit from the few billion rounds of ammunition recently bought by the Feds.  Do they include that in option "Other", "Insurance", or "Disaster Relief" ?  Maybe I should check them all...  will they ship to my bug out location?

Wed, 11/07/2012 - 11:44 | 2956159 I Am Not a Copp...
I Am Not a Copper Top's picture

Will be adding to my long lead position this weekend.

Wed, 11/07/2012 - 11:40 | 2956129 Trimmed Hedge
Trimmed Hedge's picture

Where is "All of the above"?

Wed, 11/07/2012 - 11:52 | 2956206 Taffy Lewis
Taffy Lewis's picture

hedgeless_horseman, that's a fake, joke website - correct? YES?


What is
- The official benefits website of the U.S. government
- Learn about FREE MONEY and GRANTS


Wed, 11/07/2012 - 12:27 | 2956440 jal
jal's picture



Where do I sign up for some of the Gubment free shit?


You forgot the most important.


( you are talking about getting money without having to work)






corporate welfare


ponzi (stock market) winnings

Wed, 11/07/2012 - 13:04 | 2956729 Matt
Matt's picture

The first two are returns on savings; anyone is freely able to take advantage of them, same as the fourth.

The third one is a return-on-investment for investing in the Lobbying industry. You're going to wanna group up with like-minded people to take advantage of that one.

Wed, 11/07/2012 - 11:29 | 2956054 fonzannoon
fonzannoon's picture

When the dow is down 400 and gold is up $75 and treasuries are selling off I will get interested.

Wed, 11/07/2012 - 11:43 | 2956154 RSloane
RSloane's picture

Fonz! Good to see you.  A couple of days ago Doc said you were still struggling with power outtages post Sandy. Everything all good now?

Wed, 11/07/2012 - 11:46 | 2956170 fonzannoon
fonzannoon's picture

Hey good to see you too. I am in good shape now. I have power and am up and running for the most part. The gas situation is still horrible, but that is an inconvenience at most.  How are you doing?

Wed, 11/07/2012 - 12:03 | 2956273 RSloane
RSloane's picture

Great, thanks. An army of locals with chainsaws did most of the heavy lifting before FEMA got here. We had power back within 24 hours.

Wed, 11/07/2012 - 12:09 | 2956310 fonzannoon
fonzannoon's picture

Good to hear. Glad you have dependable locals. My locals were too busy yelling about last night to lift anything up. Anyone hear from Kito lately? Now that Romney is buried I am curious about his thoughts.

Wed, 11/07/2012 - 11:30 | 2956064 LouisDega
LouisDega's picture

Bullish for Susquehanna hat company on Bagel street

Wed, 11/07/2012 - 11:31 | 2956065 Ms. Erable
Ms. Erable's picture

I'm thinking a crash helmet would be more appropriate than a baseball cap.

Wed, 11/07/2012 - 11:31 | 2956068 machineh
machineh's picture

Big Kali passed Proposition 30, raising its top marginal income tax rate from 9.3% to 13.3% -- nearly as high as New York State's ruinous 15.4% rate under Nelson Rockefeller.

Naturally the teachers unions were all over this sickening display of untrammeled government greed.

And it's not as if their neighbors in Nevada and Washington (who pay NO state income tax) live any worse.

Adios to Kalifornia!

Wed, 11/07/2012 - 11:40 | 2956131 Bay of Pigs
Bay of Pigs's picture

Americans, in general, are intellectually retarded, physically obese and morally bankrupt.

But, as George Carlin might say, "I'm certainly not referring to this fine crowd". 

Wed, 11/07/2012 - 11:49 | 2956187 rqb1
rqb1's picture

i disagree, we Americans are generally decent people overall, no better or worse than anyone else.  i do like the Carlin quote though.

Wed, 11/07/2012 - 12:03 | 2956232 Bay of Pigs
Bay of Pigs's picture

How do you explain the sorry state of America then? Particularly when it comes to voting and understanding issues?


Wed, 11/07/2012 - 11:50 | 2956199 Rainman
Rainman's picture

The new top rate is retroactive to 1/1/12 !!!! .....and the Raging Kenyan is working on an even bigger piece of the action from the " rich ".

This will be bullish for ( gubmint ) jobs.

Wed, 11/07/2012 - 11:32 | 2956077 ChrisDG74
ChrisDG74's picture

Tha Bernank has given the PPT their orders:

Dow 13k MUST be defended. I don't care how much it costs.

Wed, 11/07/2012 - 11:33 | 2956081 j-dub
j-dub's picture

My hard work in the past 12 hours to monopolize production of "DOW 1K=Back To Work" t-shirts is gonna pay off like a son of a bitch!!!! 

Wed, 11/07/2012 - 11:35 | 2956095 Shizzmoney
Shizzmoney's picture


BTW, totally called this yesterday.  I knew they rise in the market was to draw the suckers in for reality day.

Wed, 11/07/2012 - 11:38 | 2956101 DavidC
DavidC's picture


Now, where did I put that Dow 10,000 cap?


Wed, 11/07/2012 - 11:38 | 2956107 Trimmed Hedge
Trimmed Hedge's picture

It's that "fiscal cliff," according to the MSM..

Has absolutely nothing to do with it being official of another 4 years of Obama & crew...

Wed, 11/07/2012 - 11:38 | 2956110 1eyedman
1eyedman's picture

"sell in Feb and go away"....and buy thanksgiving week....clockwork to get and keep most of the 12 month range....

sell on valentines day, buy thanksgiving ....

Wed, 11/07/2012 - 11:38 | 2956113 1eyedman
1eyedman's picture

"sell in Feb and go away"....and buy thanksgiving week....clockwork to get and keep most of the 12 month range....

sell on valentines day, buy thanksgiving ....

Wed, 11/07/2012 - 11:38 | 2956114 Bansters-in-my-...
Bansters-in-my- feces's picture

Silver gets smacked down like almost 1.5 %..???
Fuck YOUS both timmy and ben
Yous are fucking traitors to the world...
..................FUCK YOUS both.
and your ESF....

Wed, 11/07/2012 - 11:41 | 2956135 NumberNone
NumberNone's picture

These motherfuckers lied every step of the way in terms of metrics to win the after the election the machinery turns off, they pat each other on the back for the great job, and all the shit falls apart.  Why is anyone shocked by this?

On a positive note, there will be another 1MM workers falling out of the workforce and unemployemnt will drop to 6.9%. 

Forward.  Voting is the best revenge. 

Wed, 11/07/2012 - 11:42 | 2956140 paddy0761
paddy0761's picture

Benji has your back. He has been sitting on his wad for a couple of months and he is about to go CTRL-P all over your ass.

Wed, 11/07/2012 - 11:42 | 2956142 I Am Not a Copp...
I Am Not a Copper Top's picture

No way it closes at these levels.  No way.

Wed, 11/07/2012 - 12:38 | 2956526 DavidC
DavidC's picture

Why not? "They've" got the election now, they don't care.


Wed, 11/07/2012 - 11:43 | 2956155 FROZENOJFUTURES

Yall bitchez got it wrong. The bernank smokes trees and fucks bitchez and that money chopper is full of 3.40 er 3.50.. er.... 3.60 gasoline and he gots dolla dolla billz yall!

We will close only down 130

Wed, 11/07/2012 - 11:44 | 2956156 1eyedman
1eyedman's picture

mkt obama reaction?? seriously??   mkts topped 9/14 and 10/5....maybe you can say that is when Robamaney lost momentum to Obamaney....

Rush was right, there are riots!   he just had his 'class warfare' glasses on upside down!

service industry personnel everywhere are bracing for retaliation....euro-style tipping from the elite when they have their cars parked and have dinner lamenting their net worth dipped from 10million to 8.5 million..."I'm really not doing that outdoor kitchen renovation on the lake house now, dammit!"

Wed, 11/07/2012 - 11:47 | 2956162 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Last night I was a little dispondent so I went over to market watch and did a little reading. I decided to short everything this morning and pulled at 13k, that is how you do it biotches! Obama just made (edit to add-me) quite the bundle! Now Market Watch has an article up blaming Europe! Geez, it drops off a cliff the morning after and STILL has nothing to do with Obama. Will be watching for trends the rest of the day, now if only Obama starts talking about his France style tax plan.

Wed, 11/07/2012 - 11:59 | 2956248 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Alright, at what point do the feds implement their corrections, she is still heading south.

Wed, 11/07/2012 - 11:45 | 2956166 holgerdanske
holgerdanske's picture

What is to stop them buying all the stock available in the entire universe?

They sit on the printing machine, and nothing is stopping them.

The only stop will be when people refuse to accept dollars.

That will have to happen.


Wed, 11/07/2012 - 11:46 | 2956172 ziggy59
ziggy59's picture

The only change anyone is getting is from the "Take a penny, leave a penny" dish

..and those vaneered portraits of Lincoln might not be there in '13, if Tiny Tim has his way.

Wed, 11/07/2012 - 11:47 | 2956174 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

By the way, what the heck is up with the password problem? Each time I log in I have to email myself a new login. Has been this way for about 8 months.

Wed, 11/07/2012 - 11:51 | 2956205 buzzsaw99
buzzsaw99's picture

no problems here

Wed, 11/07/2012 - 11:52 | 2956212 Village Smithy
Village Smithy's picture

That sounds like an NSA artifact on your hard drive.

Wed, 11/07/2012 - 11:57 | 2956236 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Biotches probably stealing my stock advice from frelling emails. Bastards taking my advice with no payment. Typical government theives.

Wed, 11/07/2012 - 12:10 | 2956317 holgerdanske
holgerdanske's picture

You are being watched?!

B ut I think you will fail on the responsetime!

Wed, 11/07/2012 - 11:47 | 2956180 Cole Younger
Cole Younger's picture

It is back up above...will it hold?

Wed, 11/07/2012 - 11:48 | 2956184 Miss Expectations
Miss Expectations's picture

Hope OFF  (I was going to say jerk, but considered it a little indelicate.)

Wed, 11/07/2012 - 11:51 | 2956194 Village Smithy
Village Smithy's picture

1400 will hold. POTUS's first BBM last night was to Ben: "Ben, you still with me? Great, make sure that Kevin guy is in the driver's seat tomorrow AM, OK?"

Wed, 11/07/2012 - 11:50 | 2956197 HD
HD's picture

Gotta love CNBC's "Rise Above" BS.  CNBC viewership has dropped to the point that they have given up any pretense of objectivity and asking congress to stop their ratings free-fall.

Must sell moar ad time.

Wed, 11/07/2012 - 11:52 | 2956207 buzzsaw99
buzzsaw99's picture

i noticed that. shameless.

Wed, 11/07/2012 - 11:50 | 2956201 Yen Cross
Yen Cross's picture

ES off 27pts. and risk F/X only off marginally! WTF? At least King dollar roared back. The 1/2 life of the election was less than Draghis save the euro speech a couple months ago. We're on the event horizon, Bitches :-)

Wed, 11/07/2012 - 11:53 | 2956214 buzzsaw99
buzzsaw99's picture

no-one is playing in the vix casino either

Wed, 11/07/2012 - 12:00 | 2956239 Yen Cross
Yen Cross's picture

 Buzz I gotta hunch Asia markets are going to be a bloodbath later. They are heavily overbought.

  Sorry for the Bitches mispel, Bitchez...

Wed, 11/07/2012 - 11:56 | 2956224 helping_friendl...
helping_friendly_book's picture

3x short snp. now it's gonna pay.

snp just broke 1400!

all hail obama!

Wed, 11/07/2012 - 11:57 | 2956231 cranky-old-geezer
cranky-old-geezer's picture



Nope, 14k here we come.

PMs getting hammered this morning.  Back to business as usual.

Wed, 11/07/2012 - 11:59 | 2956257 razorthin
razorthin's picture

The good news is that we'll break this fukker sooner than later and maybe finally make the structural monetary changes needed.

Wed, 11/07/2012 - 12:00 | 2956259 jplotinus
jplotinus's picture

Is anyone cashin in on being short today?

It seems likely. The least manipulated polls and the best probability tools and prognosticators consistently pointed to an Obama victory. And, it was known in advance that his victory would produce carping and wishes for failure so he could be blamed some more.

So how many are profiting mightily?

Wed, 11/07/2012 - 12:02 | 2956271 razorthin
razorthin's picture

I'm in cash in my retirement funds (gold not allowed), if that counts.

Wed, 11/07/2012 - 12:08 | 2956304 helping_friendl...
helping_friendly_book's picture

I have been long SPXU. It should pay off. Up 6% today!

Wed, 11/07/2012 - 12:17 | 2956368 Awakened Sheeple
Awakened Sheeple's picture

Yeah, cashed out of a VIX play. I think tomorrow will be an up day. We might get down to the 200dma on spx but this looks like capitulation selling. I might be done going short for at least a week. But I sure won't be going long, LOL. This fucker is going down hard once we either get downgraded or go over the fiscal cliff. Grats to all the bitchez who stayed short!

Wed, 11/07/2012 - 12:07 | 2956299 walküre
walküre's picture

Meanwhile in Boston ... Mitt Romney the former Presidential candidate and unsuccessful challenger to Barack Obama's Presidency was seen boarding a private jet tail number GTFO with destination Caribbean island state. Likely the Caymans.

Is the money finally leaving town? Could we be so lucky to see a proper currency restored and a system that pays for the fruits of my labor as opposed to the system that pays those who manipulate the fruits of my labor so they can pay themselves without lifting a finger?

Thu, 11/08/2012 - 02:58 | 2959603 Manic by Proxy
Manic by Proxy's picture

Manipulate the fruits of your labor? Oh, you mean like Obama, Bernanke, Corzine and, well, you get it. You most certainly get it.

Wed, 11/07/2012 - 12:10 | 2956319 Yen Cross
Yen Cross's picture

 I'll bet some eur/usd traders got their faces ripped off today. If they went to sleep with out trailing stops set, they woke up and shit the office carpet.

Wed, 11/07/2012 - 12:10 | 2956323 regionswork
regionswork's picture

Real simple. Old folks are better workers. They are on time and do their jobs. HR knows what its doing.

These folks are working because they're supporting grandkids and their adult children.

The "too good" generation of high expectations and low will to work is self-indulgent and spoiled. They were riding high on the easy credit Tusnami and now the waters have receded. Underneath the great wave is destruction.

Even though there was real economic growth in the 1950's, people lived lean. They knew the difference between money and credit/debt.

Dollars may be cheaper today, but if you are paying back debt, they are even harder to get.

I imagine most of the ZHers are trying to make money with money, find that asset upon which to bet, since it is so damn hard to build assets with any lasting value and maintain them for the long term.


Wed, 11/07/2012 - 12:16 | 2956362 helping_friendl...
helping_friendly_book's picture

Thank goodness they are mere mortals. They will retire/expire eventually.

Wed, 11/07/2012 - 12:39 | 2956538 walküre
walküre's picture

The boomers built the credit bubble. They have debt which is why they need to keep at it. Why do you think they can't retire?

The young don't have that debt. They never qualified other than their stupid student loans which will never get paid.

The debt/credit system is done because the young don't get sucked in that easy.

Forget any reflections on the 1950's. That was before the gold standard was lifted and Glass Steagall was repealed. Those two events set the perfect trap for the boomers and they swallowed the bait, hook line and sinker.

Better work ethic has got nothing to do with it. Around my farm we put people to work who are physically capable. Plenty of young people who know how to use a shovel and their backs don't give out.

Wed, 11/07/2012 - 13:08 | 2956734 helping_friendl...
helping_friendly_book's picture

*****They never qualified other than their stupid student loans which will never get paid.*****

I don't believe this is a fact or even a possibility. All, gov't gauranteed, student loans will get paid back.

If the student doesn't pay it the loan will accumulate interest and if the debtor ever applies to collect Social Security the creditor can GARNISH THE DEBTORS SOCIAL SECURITY BENEFITS!

If the debtor dies before the creditor is paid the government (taxpayer) will pay the creditor for the principle AND THE ACCUMULATED INTEREST.

If a 20 year old graduates, has a $50,000 student loan gauranteed by the gov't and doesn't make payments the $50,000 will collect interest until the student dies, lets say at 85 yeras old, and then the creditor/bank will get the principle and 45 years of interest from the taxpayer.Student Loan debt is not dischargable in bankruptcy court.

Scary isn't it.

what is 45 years of interest on initial principle of 50K at 7.5%?

The interest would be $5451994.86  + the original $50,000 borrowed = $5,501,994.86

Now you see why there are 100 commercials trying to get you to borrow money to get an education.





Wed, 11/07/2012 - 13:39 | 2956922 cranky-old-geezer
cranky-old-geezer's picture



SS is already bankrupt, balance sheet wise and cash flow wise, requiring funds from the general budget to make up the cash flow shortage.

Govt guaranteed student loans are just another windfall for banks, keeping profits, passing losses on to taxpayers.

It's the next credit bubble after the housing credit bubble collapsed, it's more or less govt guaranteed too with Bernanke buying up MBS.

Govt guaranteed debt bubbles are the future and banks couldn't be happier. 

Currency printing needed to buy up all the defaulting debt from banks will destory the US dollar, but that's a minor price to pay for looting the nation dry.

Wed, 11/07/2012 - 13:50 | 2956995 helping_friendl...
helping_friendly_book's picture

Yes! Agreed!

Imagine $50,000 borrowed, $5,000,000 paid back to the bank.

100X ROI guaranteed.

I am paying mine back. I want my SS benefits. 

It will be a rude awakening for the poor bastards who don't think they have to pay those loans back! Taxpayers included.

The moneychangers will get their pound of flesh and then some.


Wed, 11/07/2012 - 12:11 | 2956326 Quinvarius
Quinvarius's picture

reminds me of when gs tried to crash the markets after qe1 and 2.  i think ill just wait for 18k before i go hat shopping.  it isnt about the economy.  it is about the paper.

Wed, 11/07/2012 - 12:24 | 2956407 stormsailor
stormsailor's picture

one of these with some 10 round clips will be a real crowd pleaser.

Wed, 11/07/2012 - 13:40 | 2956946 Grand Supercycle
Grand Supercycle's picture

COPPER doesn't lie.

Yep, COPPER chart tells the real story as the Wile E. Coyote sell off gets going.

Bearish SPX daily chart dominates all else once again including overextended USDX daily chart.

Wed, 11/07/2012 - 14:27 | 2957192 EscapingProgress
EscapingProgress's picture

On a long enough timeline...

Thu, 11/08/2012 - 02:52 | 2959598 Manic by Proxy
Manic by Proxy's picture

Come on, what's wrong with a little irony. Naive and self-indulgent youth vote  for four more years of debt, borrowing and hopium, and are rewarded with slavery and unemployment. " Four more years!" "Four more years!" "More free stuff!" 


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