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"It Is Indeed, A Fearful Place"

Tyler Durden's picture





 

From Mark Grant, author of Out of the Box

It Is Indeed, A Fearful Place

“It is indeed, a fearful place. The torrent, swollen by the melting snow, plunges into a tremendous abyss, from which the spray rolls up like the smoke from a burning house. The shaft into which the river hurls itself is an immense chasm, lined by glistening coal-black rock, and narrowing into a creaming, boiling pit of incalculable depth, which brims over and shoots the stream onward over its jagged lip. The long sweep of green water roaring forever down, and the thick flickering curtain of spray hissing forever upward, turn a man giddy with their constant whirl and clamor. We stood near the edge peering down at the gleam of the breaking water far below us against the black rocks, and listening to the half-human shout which came booming up with the spray out of the abyss.”

 

                  -Sir Arthur Conan Doyle, The Final Problem

Here are words worthy of describing our present abyss. Here is a verbally painted picture of a terrifying falls where Holmes and Moriarty grasped and struggled and eventually plunged to an almost certain death. So this morning I invite you to sniff the sea air. I beckon you to wipe your eyes and clear them and take note of our current surroundings because we are standing at the rather infamous Reichenbach Falls and we are struggling with our almost certain fate as we attempt to keep ourselves upright before the plunge into the whirl of some fiscally boiling pit. 

"I think that you know me well enough, Watson, to understand that I am by no means a nervous man. At the same time, it is stupidity rather than courage to refuse to recognize danger when it is close upon you."

 

                  -Sherlock Holmes

We have gamed ourselves for too long and dined upon hopes and prayers and morsels of central bank expectations that have been tossed to us by the sirens that constantly and consistently surround the markets. I fear we have listened to their haunting calls and now, with some great degree of certainty in my mind, it will not just be a fiscal cliff but an intertwined market cliff from which we are about to plunge headlong over the side and down into the raging sea. The last rocky ledge is beneath our feet but the rock crumbles and the footing is slippery and the minions of both our President and our Congress are pushing mightily on our backs with the strength of the Herculean battle for the treasure of the nation. It is clear that some made the money and some did not but now everyone is clamoring for the keys to the vault and everyone feels entitled to the spoils. It is Denmark no longer but something rotten in the United States and beware the tidings of a new year!
 
The sales numbers for the Christmas season were dismal. The Associated Press reports that holiday sales increased 0.7% and were the worst since 2008. S&P and Moodys are cutting corporate debt ratings the most since 2009 as the ratio of downgrades to upgrades increased to 1.85%  from 1.23% in 2011. Sovereign debt ratings are getting hammered globally as Europe careens into another recession, as China falters and as the United States is about to be swept into the rampage of a failed economic policy. Increase taxes, do not increase taxes it is but the while of a moment, the propaganda of eight days of financing the government as  entitlements and social programs that cannot be afforded are not yet even a serious part of the national discussion. The subjects currently being bandied about are like droplets of water while the raging falls are ignored and the hours left are trivialized as we plunge headlong into midnight of December 31. Obama care, increased payroll taxes, increased personal taxes, increased entitlement programs, the debt ceiling and a nation living off the largesse of the Federal Reserve Bank printing paper from thin air as we prepare to join Alice in the great fall down the rabbit hole.

 

“It had darkened since I left, and now I could only see here and there the glistening of moisture upon the black walls, and far away down at the end of the shaft the gleam of the broken water. I shouted; but only the same half-human cry of the fall was borne back to my ears.”

 

                      -Doctor Watson

Still the slosh of new money is there. The compression in the bond markets will continue for a time. America will join Europe in her recession and the Continent will be buoyed by the sharing of the misery. It will certainly not be the best of times and most probably not the worst of times but it will be a time that is not marked by much joy or good fortune either. I predict that anger will swell, that people will feel betrayed and that the social conscience of the nation will be frayed by what has been promised and cannot be delivered. The spirit of the season may well call; “Rest Ye Merry Gentleman” but it will neither be “rest” nor “merry” as the New Year begins.

 


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Wed, 12/26/2012 - 09:21 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Bring the pain baby!

Wed, 12/26/2012 - 09:29 | Link to Comment negative rates
negative rates's picture

From all the pain money can buy.

http://www.youtube.com/watch?v=b0wfu3tOrtQ

Too you.

Wed, 12/26/2012 - 10:37 | Link to Comment Sudden Debt
Sudden Debt's picture

strange nobody wants to share the pain to kick the can down the road.

cut all benefits into half, delete 50% of all taxes but make all state services payable....

I wouldn't mind.

Now I pay 30k euro taxes a year, and I never got anything in return.

oh... I did put in a request to build a larger porch... send the request 5 weeks ago... but haven't heard anything yet... they must be buzzy....

but I wouldn't mind paying for those services with money! BECAUSE THAN I COULD PICK UP THE PHONE AND YELL WHERE THE FUCK MY LICENSE IS!!! LAZY ASS MOTHERFUCKERD!!!!! YOU'RE ALL FIRED!!!

Ps' Merry Christmass to everybody

Wed, 12/26/2012 - 23:07 | Link to Comment Tommy Gunner
Tommy Gunner's picture

Cut all the entitlements you want - cut all the military spending you want - force corporations not to pay 0 tax - it is TOO LATE

Because the world will collapse if you try that.  Because the world economy is like a crack whore that NEEDS corporate and public social welfare.

The world is so addicted that if you remove the crack and send her to Betty Ford she'll not make it through the first hour.

There is no way out - it is too late.

 

 

Wed, 12/26/2012 - 09:28 | Link to Comment new game
new game's picture

folks, there is time to get prepared befor to many sheeple figure out how fucked it is going to be.

1)Debt free whatever it takes.

2)by doing number 1 all else will fall into place-no further explanation.

good day, good week/year. nice, good ule tide to ya!

Wed, 12/26/2012 - 10:11 | Link to Comment CH1
CH1's picture

#1: Stop treating rulers as if they have moral standing. They don't.

#2: Stop obeying them.

Wed, 12/26/2012 - 10:12 | Link to Comment GubbermintWorker
GubbermintWorker's picture

Oh, I don't know about that. I paid off all of our debt except for the mortgage. That I had ten years of a thirty year mortgage to go. I decided to refinance that over a 30 year period at 3.7% interest. Damn, my house payment is $720 a month including taxes and insurance. Can't rent that cheap, and the place is 5 acres with a garden, standby diesel generator, fruit trees, and a small livestock barn and fenced in pasture.  Instead of paying it off I cashed out most of my IRA and invested in physical PM's back in 08 and 09. I know have enough to pay off the mortgage if I so desire and still have PM's left over. If I had paid off the mortgage I wouldn't have had near the amount of PM's that I have now :-)

Wed, 12/26/2012 - 10:36 | Link to Comment grid-b-gone
grid-b-gone's picture

Mortgage gone. Working on PMs, but your way works, too.

This year, got a $20 Kill A Watt meter to measure electric draw by electrical device.

It confirmed the LED bulbs really do drop watt usage from 60 down to 6.8, close to the 90% savings the package claims.

Found out porch rope lights draw over 200 watts and those will be LED soon. The tankless water heater is four years into its 7 year payback time.

Electric rates were up over 20% in my area last year but conservation moves have offset the rate increase and bills are lower than they were a year ago.

Based on my experience, I believe the U.S. could drop energy usage by at least 20% without quality of life sacrifices. That's a whole bunch of tankers of oil, taxes, and prosthetics that we should have been avoiding for years already.

Wed, 12/26/2012 - 13:09 | Link to Comment Nobody For President
Nobody For President's picture

Kill a Watt is a good tool. I'm off the grid, which makes it even more useful, have to be concious of electric use without being particularly miserly. Leds are certainly the way to go - the only big watt light I have left is in center of two car garage - my 'barn light', which is intermittent use and only when I need it.

It is amazing how changing just a few habits can save electric use a lot - same goes for water. I have lots of hoses around, and zero leaks.

Good holidays to all!

Wed, 12/26/2012 - 10:55 | Link to Comment klockwerks
klockwerks's picture

Gubworker, way to go. It is a very good feeling to know you are good to go and prepared as best we know.

Wed, 12/26/2012 - 15:18 | Link to Comment malek
malek's picture

Sounds like a nice place.
Too bad it's owned by the bank. Woulda/coulda/shoulda doesn't count, as long as there is a mortgage on the place it's not yours and good luck trying to time the mortgage payoff until the very last moment to take max advantage of low interest rates, but not too late when the financial system and title transfer system already stopped working. (Other people call that gambling, rightfully so.)

Unless you expect titles (a/k/a property rights) to expire too in the coming collapse, it might be better to be too early than too late on getting that title.

 

Wed, 12/26/2012 - 23:08 | Link to Comment Tommy Gunner
Tommy Gunner's picture

Agree.   Don't pay off fuck all.  Because everything is going to get wiped out. 

Here's a trade for you:

Take a yen denominated loan.  Convert the yen to USD and buy gold. 

Wed, 12/26/2012 - 09:29 | Link to Comment Wakanda
Wakanda's picture

The Second American Revolution, streaming through the internets to a screen in front of you.

Wed, 12/26/2012 - 09:45 | Link to Comment SWRichmond
SWRichmond's picture

Be careful what you wish for, friend.

Wed, 12/26/2012 - 09:51 | Link to Comment Dr. Engali
Dr. Engali's picture

Revolutions are seldom pretty and what comes afterwards might not be the change that they are looking for. Especially in a balkanized society such as ours. We have almost nothing in common to hold us together.

Wed, 12/26/2012 - 09:57 | Link to Comment fonzannoon
fonzannoon's picture

You nailed it Doc. I was with family all weekend. People bonded by the same fonzannoon name. That is about it. discussing the cliff became discussing spending cuts. discussing cuts became discussing what is necessary. everyone in the room was sure their vocation was necessary. Everyone elses was not. they would have fired each other on the spot....and this was family.

Wed, 12/26/2012 - 10:14 | Link to Comment Dr. Engali
Dr. Engali's picture

Merry Christmas Fonz. I hope you had a great time. I usually try to avoid those topics because somebody always gets bent out of shape. So when somebody in the room brings it up I usually try to change the direction of the topic. Most of them in the room fall into the left/right mindset so when I tell them the way it is the all look at me like I'm screwed in the head. I like being invited for all the delicious food and drinks so I avoid that headache.

Wed, 12/26/2012 - 10:27 | Link to Comment fonzannoon
fonzannoon's picture

Merry Christmas to you too Doc. Here's to another year of keeping our wits together.

Wed, 12/26/2012 - 13:11 | Link to Comment Nobody For President
Nobody For President's picture

Or at least half of them.

Wed, 12/26/2012 - 10:26 | Link to Comment game theory
game theory's picture

When I look on my dollar bills...they tell me "In God We Trust".  After the financial crisis and hearing how the bankers on wall street all do "God's work"...I started to worry about this "God" character.  All that seems to hold us together these days is gravity. I think Nietzsche was on to something...

Wed, 12/26/2012 - 10:25 | Link to Comment Joe A
Joe A's picture

Agreed. Outcomes of revolutions are often never continued by the ones who won them.

Wed, 12/26/2012 - 23:16 | Link to Comment Tommy Gunner
Tommy Gunner's picture

Nah...  the US has got some common ground - Dancing with Stars... American Idol... hugely popular across all demographics.

Check this book out http://www.amazon.com/Dark-Ages-America-Final-Empire/dp/0393329771

Wed, 12/26/2012 - 12:14 | Link to Comment Banksters
Banksters's picture

And your suggestion:  To continue to get ass fucked by characters like bernank and his merry band of bankers?

Wed, 12/26/2012 - 12:54 | Link to Comment Wakanda
Wakanda's picture

Who said wish?  I'm observing and coping.

Wed, 12/26/2012 - 09:29 | Link to Comment rsnoble
rsnoble's picture

No, we're already in a recession. It doesn't count when you are in denial and furthermore keep lowering the bar.

Wed, 12/26/2012 - 09:32 | Link to Comment UNCOMPROMISED
UNCOMPROMISED's picture

TLDNR. Tweet it out and you'll get better yields.

Wed, 12/26/2012 - 09:39 | Link to Comment rwe2late
rwe2late's picture

Once again, as others have stated,

FIRST, curtail and cut the on-going handouts to TBTF banksters, as well as the global Pentagon and Homeland police state. End the  Pharma-Insurance profiteering and spiralling health costs. Reject the powers of the Fed and identify what "debts" ought be repudiated. Reverse the globalist "free trade" outflow of jobs and upward concentration of wealth.

Only thereafter does it make sense to discuss the "entitlements and social programs that cannot (supposedly now) be afforded", and would then more likely be both more affordable

and even less necessary.

Wed, 12/26/2012 - 09:49 | Link to Comment Winston Churchill
Winston Churchill's picture

Its damned if you do ,and damned if you don't.

Drop the MIC and bank bailuouts and the dollar will lose reserve currencuy status now,

instead of in two years max.Thats when the real pain will begin.

Wed, 12/26/2012 - 10:06 | Link to Comment UNCOMPROMISED
UNCOMPROMISED's picture

The MIC is wall st and by extension the banksters. So now what?

Turn the MIC on their vocal opposition(foreign and domestic) and everything will be good.

The hunt for natural resources continues(aka Ali Bin Resources):

The United States Army will be deploying troops to nearly three-dozen African nations in the coming year.
http://rt.com/usa/news/us-deploying-troops-order-749/

Wed, 12/26/2012 - 10:09 | Link to Comment Winston Churchill
Winston Churchill's picture

A reset or the new dark age of serfdom.

TPTB want the latter, and seem well advanced in achiening it.

The sheeple are blindly following them to slaughter., now they have been fleeced.

Wed, 12/26/2012 - 10:12 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

So take the two years, and negotiate or prepare for war.  Don't think this will be put to a vote.

Wed, 12/26/2012 - 10:30 | Link to Comment rwe2late
rwe2late's picture

“Delay only compounds error” - Donald Rumsfeld

?

According to Greg Hunter:

“This could have been handled in 2008 with the debt wiped clean. We should have only protected depositors. Bankers, bondholders and shareholders be damned—that’s capitalism. It would have cost about $6 trillion back then, and we’d be on our way to a real recovery by now. That is exactly what Iceland did. It told bankers, shareholders and bondholders to take a big hit instead of giving a bailout for incompetence and fraud. Oh, and it prosecuted the bankers and government officials that allowed the implosion to happen! Instead, the Federal Reserve alone pumped out $16 trillion in the wake of the 2008 meltdown. That is only part of the banker bailout that is still going on …”

 

 

http://usawatchdog.com/bagmen-not-statesmen/ 

Wed, 12/26/2012 - 10:06 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Didn't seem to be much of a problem to come up with trillions to help the banksters.  We're short when it's time to help the hoi polloi. 

Wed, 12/26/2012 - 10:25 | Link to Comment Disenchanted
Disenchanted's picture

 

 

I hear ya Ned +1

 

Just a little over a decade ago, the day before a somewhat important date in the country's psyche(9/10/2001) the Pentagon via Rumsfeld announced it had lost track of 2.3 Trillion$ which was promptly forgotten the next day. Fast forward a few years later and we still were flush enough to shrink wrap billion$ in cash and airlift it to Iraq where it mysteriously vanished. A few more years later and in 2008 along came your example.

Four years later and all of a sudden it's crisis mode. Who coulda knowed... to top it off all of a sudden this crisis is the fault of the greedy, entitled hoi polloi.

I mean wtf people!

Wed, 12/26/2012 - 11:40 | Link to Comment Marley
Marley's picture

Don't let a few facts get in the way of a good story.  I'll sum it up with the punchline from a old joke.  "You goin to believe those lying sheep?"

The only real revolution coming is the one of consciousness.  Half the posters here are in their bunkers, waiting for the end of the world as we know it.  The other half are looking at the real world through an electronic window.

Me, I'm planning for a 200 mile backpacking trip. That's not a metaphor, it's for real.  For enjoyment.

Wed, 12/26/2012 - 12:35 | Link to Comment Wjunk
Wjunk's picture

Appalachian Trail?  Doing similar planning right now for a trip in August from the northern end.  Enjoy, wherever it is to be.

Thu, 12/27/2012 - 00:11 | Link to Comment Marley
Marley's picture

Thanks for asking, the JMT, north to south.  I've done portions but never the whole trail.  Likewise, good luck on your trip.  I am looking for something for my 65th retirement celebration and the AT is on the short list but I'm leaning toward Denali National Park but the permit process is a pain.

Wed, 12/26/2012 - 09:46 | Link to Comment kraschenbern
kraschenbern's picture

Marc,

Good prose.  Add a plot, find a publisher, build a new career.

Wed, 12/26/2012 - 09:46 | Link to Comment flattrader
flattrader's picture

Mark J. Grant,

What?  No veiled appeal to right the ship on the backs of low income Americans?

Throw Grammy and Grampy under the bus?

You must be slipping...

>>>Mark J. Grant is Managing Director of the Corporate Syndicate Department for a publicly traded investment bank. In addition, he has run the capital markets departments and has been on the boards of four investment banks. He also served as the president of a public company in telecommunications and was on its board of directors.<<<

Mark J. Grant, Corporate Bankster Bitch

Wed, 12/26/2012 - 09:54 | Link to Comment UNCOMPROMISED
UNCOMPROMISED's picture

Ouch.

CBBDNR. Better?

Wed, 12/26/2012 - 10:03 | Link to Comment flattrader
flattrader's picture

I think hanging for Corporate Bankster Bitches is more appropriate.

Wed, 12/26/2012 - 10:51 | Link to Comment negative rates
negative rates's picture

Presses up button.

Wed, 12/26/2012 - 09:46 | Link to Comment Dr. Engali
Dr. Engali's picture

This was all a planned from the beginning.........A sequence of events legislated to converge all at the same time. Don't fool yourself this was no accident and nobody really wants to solve it. Plan accordingly or be a victim.

Wed, 12/26/2012 - 10:00 | Link to Comment mrktwtch2
mrktwtch2's picture

remember guys were are only here for maybe 85 yrs if we are lucky..so try to have some fun..and after we are gone the world will continue on...

Wed, 12/26/2012 - 10:02 | Link to Comment AynRandFan
AynRandFan's picture

Wealth is running out of places to go. Every liquid asset is overvalued, even cash. If real estate is rebounding, it is only because money borrowed is free. The biggest investment issue of 2013 is which asset will fall first. Regardless of how much debt is monetized, cash hoarding will win in the end.

Wed, 12/26/2012 - 10:14 | Link to Comment game theory
game theory's picture

Cash hoarding will not win. 

Wed, 12/26/2012 - 10:22 | Link to Comment Winston Churchill
Winston Churchill's picture

Indeed.

An overnight devaluation, and a limit on the ammount of old currency

redeemable for new seems to be SoP in whats coming.Debts

of course will not be included in that limit.

Wed, 12/26/2012 - 10:07 | Link to Comment Oldwood
Oldwood's picture


Ahh, the bliss of final compression as my balding head first impacts, what at first does not appear as a hard surface of reality, quickly followed by my ass and oversize feet. Only as my bodily fluids spread across its surface does reality become reflective, finally illustrating the folly to all those who follow me. By then your fall is well on its way, but your future's illustration is there for all to see.

Wed, 12/26/2012 - 10:31 | Link to Comment Miss Expectations
Miss Expectations's picture

"...a nation living off the largesse of the Federal Reserve Bank printing paper from thin air..."

Sometimes words betray us.

 

 

Wed, 12/26/2012 - 10:58 | Link to Comment cavsgt
cavsgt's picture

Reminds of the song Good night Siagon.

And we would all go down together
We said we'd all go down together
Yes we would all go down together

Wed, 12/26/2012 - 11:09 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

This is all very tiring.  Now it's the Fical Cliff that's the trigger.  You mean like Greece, and Greece, and Greece, and Italy, and Spain, and Greece, and some German HIgh Court, and the Finnish Legislature, and ther Slovak legislature, and Debt Cieling I, and Greece, and Greece,  and the Election, and Greece.........

Guys like Grant are like a broken clock...... living in the longest day ever.

Wed, 12/26/2012 - 11:14 | Link to Comment roadhazard
roadhazard's picture

I predict not one right winger will accept the smallest amount of blame for anything.

Do NOT follow this link or you will be banned from the site!