Since 2012 Is 2011, What Comes Next Is Not Pretty...

Tyler Durden's picture

Since January we have been pounding the table that 2012 is nothing but a carbon copy of 2011. Whether this is due to the limited imagination of the central planners, or a quota on the number of pages in the market's script, we don't know. What we do know is that since now everyone acknowledges that the two years have been fused into one, we suggest readers take a double dose of Dramamine ahead of what comes next, which can be easily seen courtesy of the following chart from SocGen's Albert Edwards.



and as Andrew Lapthorne notes:

?Of course this is a particularly silly reporting season period, where on one hand earnings estimates have collapsed, yet on the other the majority of companies are producing positive ?surprises?. Such silliness will only encourage the idea the equity market is increasingly not really fit for purpose?. However there is no denying that earnings optimism is currently very weak, registering a lowly 34% globally and a terrible 27% in the US. Fixating on the forecast growth rate for this year is of course misleading as these can evaporate very quickly, best to look at year-on-year changes in 12-month forward or trailing earnings which are now showing many region profits to be in decline.



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Jlmadyson's picture

Not pretty indeed.

Confirmed Hindenburg Omen is back! As of yesterday's market action.

tsx500's picture

slightly OT but :    SUCK IT BERRNANKE !!!

BaBaBouy's picture

Oh Bummah gonna get Jimmey Cartered' ...

SheepDog-One's picture

You mean Greenland ice is melting to become once again what it was named for? GREENland? 

jjsilver's picture

Did I hear carbon tax to go along with that un gun grab.

The Monkey's picture

"What comes next..."

The IMF will start screaming for more action, central bank jawboning.

francis_sawyer's picture

Maybe they'll find some old oil derricks that Leif Erickson abandoned & within 6 months, Denmark will be listed on the roll call of "axis of evil" nations...

i-dog's picture

Oh, great! The obligatory sockpuppet thread-jacking into 88 posts by FlakSheister on something other than the topic at hand! Sheesh!!

Muppet of the Universe's picture

We are repeating 2011, or I didn't just... Long sync monday morning 12.20 (going flat today (then long) for Q2 announcement postmarket today) Long UVXY Friday morning, sell monday morning & Short UVXY today 8.95 (just sold @ 3) Short RJA 10.02 on friday. Day trading Corn most recent max gainer short 795 long 776. Long C. OIL 88 - doubled up 87.  Short Gold 1608 (long @ 1615).  Shorted Big Dow @ 880 #LATA#PZPZ #EZPZ #GGBRO #HATEHATEHATE #UMAD?

Bringing class and respectable behavior to wall street since March 012'.

Muppet of the Universe's picture

Sync down 18%  aftermarket. 5 pm conference call bot dump. 

Self Trader's picture

Carbon emission TAX on firing guns is next.

Self Trader's picture

More Muppets money for God damn' Sachs.

Calmyourself's picture


2,000 year COOLING trend..  Much warner in Medieval / Roman times..  But facts don't matter only that humans are evil....

falak pema's picture

false flag name invented by the Vikings to send people towards Greenland and thus secure Iceland for themselves. In fact Iceland was green not like icy Greenland.

That was around 1000 AD when they discovered Vinland, that some say was the first time europeans put foot on AMerican soil. Leif Ericson was that man. 

MrSteve's picture

Such outdated history....  see the Minoan, lineal b derived script of Algonquin tribal leaders on New England 1600s land / peace treaties signed with the Pilgrims' English roman glyphs. The Minoan script dates from 2000BC, way before the Vykings rowed up the St. Lawrence River into Lake Ontario and up the Ottawa River, etc and way before lineal b was deciphered as the proto-Greek alphabet.


The First Tribes traded away copper from the Lake Superior area. PM has been good biz for millenia!

Yes, you can look it up- America BC by Barry Fell.

konputa's picture

Credit where credit is due, in this case to Bjarni Herjólfsson.

tawse57's picture

Greenland was named by the Viking King of Iceland.

He did not want others invading his land so he called Iceland 'Ice Land' to put people off, whilst spreading rumour of the wonderful 'Greenland' over the horizon.

He also told people to buy silver and gold. LOL

savagegoose's picture

he told em  to buy silver and gold so when he raieded them,there was good booty.much like China today.

goldfish1's picture

You mean Greenland ice is melting to become once again what it was named for? GREENland?

My bad for assuming a baseline level of education. Learn more:


The name Greenland comes from the early Scandinavian settlers. In the Icelandic sagas, it is said that Norwegian-born Erik the Red was exiled from Iceland for murder. He, along with his extended family and thralls, set out in ships to find a land rumored to lie to the northwest. After settling there, he named the land Grœnland ("Greenland"), supposedly in the hope that the pleasant name would attract settlers.

DosZap's picture

Greenland ice sheet melted at unprecedented rate during July


FALSE, happens in 150yr cycles.

FlyoverCountrySchmuck's picture

Must have been the fault of those EVIL 1880's SUV's

francis_sawyer's picture

I've always maintained that the 'evil' Clovis Indians (& their Escalades) were responsible for turning back the North American polar ice sheets 10,000 years ago...

BeetleBailey's picture


Sad that a comic tells it like it is.

Fuckin Global Warming and the pissants that think we humans are the cause of it.

Jesus Mary and Joe............

Enceladus's picture

Correct ice cores from the Summit area show the last time this happened was 1896.

0z's picture

It's called mass amnesia. Read Immanual Velikovsky

TPTB_r_TBTF's picture

This is bullish!  Next real-estate bubble: Greenland.

Buy now: Beach-front, cobalt-blue water, white sands, palm trees.  DonT believe me?  View the image at that link!  For Real!

The Final Frontier for rare earths! (IMHO- Antartica is the Final Frontier)

Black Gold from the Green Land.

Today- 58°, partly cloudy.

agNau's picture

Long term cycle analysis is a must to any tool box.
Buy a boat!

dumbfound's picture

IF Global warming is bad how come more people live around the Equator than around the Artic Circles

dumbfound's picture

IF Global warming is bad how come more people live around the Equator than around the Artic Circles

earleflorida's picture

and the industrial world is falling over itself to get at the pristine  lands' mineral deposits that havn't been touch in millenniums ---- an entire continent of unimaginable wealth just waiting to be plundered [harvested]

good for you, mr. nature and your cyclical natural selection-- even the continents follow darwin's thesis ?  

Meremortal's picture

Unprecedented my ass. It does this approximately every 150 years, and it's right on schedule. Do some homework.

ATM's picture

Greenland Ice Melt every 150 years is ‘right on time’


“Ice cores from Summit show that melting events of this type occur about once every 150 years on average. With the last one happening in 1889, this event is right on time,” says Lora Koenig, a Goddard glaciologist and a member of the research team analyzing the satellite data.

max2205's picture

But history never repeats.....

alvanorichie's picture

We are not makers of history. We are made by history.

Dr. Richard Head's picture

Pretty is in the eye of the beholder....bloodbaths are the orders of the bankster cabal.  To them, this is BEAUtiful.

Son of Loki's picture

Arnold, take the check(s) and put a tiny down payment on a $3 million house...leverage up in the world and get a zero down 50 year loan before all those Aliens grab every available box left!


It is now almost a universal mainstream headline that housing has reached a bottom.  Of course little is mentioned about the ridiculously low mortgage rates that have aided in covering up stagnant incomes to accomplish this task.


Roughly 30 percent of California home owners are underwater.  This works out to be 1.5+ million households.  Yet California only has about 170,000 homes for sale on the MLS!  You have nearly 10 times the number of underwater homeowners compared to the homes listed on the MLS.


California has 12.4 million occupied housing units and roughly 1.7 million households are collecting food stamps (nearly 13 percent of all households).  Median household income for the state is $57,000.  Over 3 million Californians are already drawing Social Security.  So of course, this is simply more reason to celebrate with high home prices.!+Mail

Meremortal's picture

California is bad, but there are over 250 real estate submarkets in the USA, and about half of them are showing price appreciation or stability.

About 70% of all USA problem real estate is located in 5 states. Can you guess which ones? 

CA has a track record of booming too much and declines heavily as a result. It's happened before, and will again. Democrats are good at this, check historical RE market in the People's Republic of MA, IL, etc.

ACP's picture

...and with the drought, new money printing would be slightly more than devastating.

Arnold Ziffel's picture

When do I get my 'free' $3,000 Barry check?

Arnold Ziffel's picture

When do I get my 'free' $3,000 Barry check?

Beam Me Up Scotty's picture

You only get one.  Even if you ask twice.

BeerBrewer09's picture

At this point they should just send every taxpayer a check for $100,000.

WhiskeyTangoFoxtrot's picture

You only get one. Even if you ask twice.

sherryw's picture

In 2009 we all got cheques Downunder  - for almost any reason; for having school age children, for putting in a tax return, on a low income, to help us buy school texts,... my, some folks got $5-6,000. It was a good Christmas that year and lots of flat screens got sold. Businesses got 50% tax deduction upfront for buying a car, immediate 100% write off for office equipment purchase etc. It's one of the reasons Oz didn't implode along with the rest of the western world. Now of course, the bill is due!!!!!