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The Last Time The Dow Was Here...

Tyler Durden's picture





 

"Mission Accomplished" - With CNBC now lost for countdown-able targets (though 20,000 is so close), we leave it to none other than Jim Cramer, quoting Stanley Druckenmiller, to sum up where we stand (oh and the following list of remarkable then-and-now macro, micro, and market variables), namely that "we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else", just like everyone sold ahead of everyone else on October 11th 2007, the last time stocks were here...

  • Dow Jones Industrial Average: Then 14164.5; Now 14164.5
  • Regular Gas Price: Then $2.75; Now $3.73
  • GDP Growth: Then +2.5%; Now +1.6%
  • Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
  • Americans On Food Stamps: Then 26.9 million; Now 47.69 million
  • Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
  • US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
  • US Deficit (LTM): Then $97 billion; Now $975.6 billion
  • Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
  • US Household Debt: Then $13.5 trillion; Now 12.87 trillion
  • Labor Force Particpation Rate: Then 65.8%; Now 63.6%
  • Consumer Confidence: Then 99.5; Now 69.6
  • S&P Rating of the US: Then AAA; Now AA+
  • VIX: Then 17.5%; Now 14%
  • 10 Year Treasury Yield: Then 4.64%; Now 1.89%
  • USDJPY: Then 117; Now 93
  • EURUSD: Then 1.4145; Now 1.3050
  • Gold: Then $748; Now $1583
  • NYSE Average LTM Volume (per day): Then 1.3 billion shares; Now 545 million shares
 


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Tue, 03/05/2013 - 10:37 | Link to Comment fonzannoon
fonzannoon's picture

I'd sure as shit have a giant asterisk alongside the debt rating.

Tue, 03/05/2013 - 10:47 | Link to Comment Jacque Itch
Jacque Itch's picture

BTFC (Buy The F'n Criminals)

Tue, 03/05/2013 - 10:56 | Link to Comment kaiserhoff
kaiserhoff's picture

@fonzan

Total debt under GAP or any rational accounting system - add a zero, at least.

164-200 Trillion, but who's counting?

Apparently nobody.

Tue, 03/05/2013 - 11:02 | Link to Comment gold-is-not-dead
gold-is-not-dead's picture

so it cost 'only' 6 trillions to get the stock market where it was... a bargain...

Tue, 03/05/2013 - 11:07 | Link to Comment kralizec
kralizec's picture

Never has so much been propped up by so few for so much.

Mother of all shorts in the offing.

Tue, 03/05/2013 - 11:12 | Link to Comment CH1
CH1's picture

Mother of all shorts in the offing.

Yes, but not till Benny stops pumping... or when the Muppets decide to wake up again.

Tue, 03/05/2013 - 11:18 | Link to Comment BaBaBouy
BaBaBouy's picture

USA Magical Land Of Smoke And Mirrors ...

 

And Brought To You By The Wizards At SackMan GOLD ...

Tue, 03/05/2013 - 11:23 | Link to Comment BaBaBouy
BaBaBouy's picture

PS ... Shorting Market Right Now...

 

Would Be Like Betting Against Gob'mt-Run Video Poker Machines...

Think Ya' Gonna WIN ???????????

Tue, 03/05/2013 - 11:25 | Link to Comment HoofHearted
HoofHearted's picture

Yes, this is all going to end well. Eventualy the shorts win....if they can remain solvent.

Tue, 03/05/2013 - 11:43 | Link to Comment Shocker
Shocker's picture

Just putting into that easy chart, comparing the last time we were here its pretty simple.

Everything is up, Debt, Food Stamps, Gas...

Job Layoffs are too

http://www.dailyjobcuts.com

.

 

Tue, 03/05/2013 - 12:26 | Link to Comment walküre
walküre's picture

Debt to GDP has left 100% in the rearview mirror.

Who is fact checking this shit?

Tue, 03/05/2013 - 16:35 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The best thing about these very nominal "new" highs on the 30 ticker symbol Dow (re-shuffled and re-loaded with new ticker symbols about 100 times in the last 3 years), as well as the creeping ever higher on the 'levitation of unicorn fiat & central fiat bank fluffers Spooz & Naz, is that the "wealth"-on-statements it create is permanent and "locked in," rather than being "transitory," and therefore not subject to being wiped out, going negative, or otherwise being Corzine'd.

Dow Reaches Record High, Spurred by Fed 
New York Times ‎- 2 hours ago

 “What’s amazing about this bull market is that people still don’t think it’s real,” said Richard Bernstein, chief executive of Richard Bernstein Advisors, a money management firm. “We think this could be the biggest bull market of our careers.”

 

“How the Fed extricates itself is important,” said Mr. Bernstein, the money manager. “It could happen two, three, four, five years from now.”

 

 In the meantime, he said, he remains confused about why more investors aren’t buying stocks. “I just don’t understand why people don’t want to play,” he said.

 

Water is nice & warm....you're gonna' love these markets. Don't miss upside that lay ahead.

Tue, 03/05/2013 - 17:36 | Link to Comment fourchan
fourchan's picture

We've gone full retard.

Tue, 03/05/2013 - 22:24 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Just looking at the S&P, it has gained 128% since the lows put in as of March of 2009, compliments of...

....wait for it....

...the 1.5 trillion USD companies listed on the S&P 500 have expended in buying back their own shares of stock ...the 1.5 trillion USD companies listed on the S&P 500 have expended in buying back their own shares of stock (why wouldn't they when they can float a 3 year corporate bond for 1%, and the execs that are massively compensated vis-a-vis share price can so easily boost that compensation by using such share buybacks?).

"In this run-up, nearly all the buying has come from companies repurchasing their own stock in an effort to boost its value. Companies in the S&P 500 have bought $1.5 trillion since the Great Recession began in December 2007."

See Dow closes at all-time [nominal] high, beating 2007 record

I'm trying to find similar ratios for the Fab 30 Dow and the Nasdaq, but I'd imagine it's roughly proportionate on a market cap ratio basis, as that excerpt suggests.

So, the Fed has printed trillions from thin air, distributed this money base to Primary Dealers and banking/financial entities at near zero cost basis to "invest" (aka speculate, aka gamble), while at the same time, the Federal Reserve has swapped Treasuries for shitty assets banks and financial firms wouldn't otherwise be able to unload (aka "a way above fair market value transaction"), and corporations that are publicly traded on the Dow, Nasdaq & S&P500 have used near free loans to buy back a record amount of their own shares.

And that's your rally in a nutshell, which will end in tears for nearly every person who has purchased or will purchase anything stock "market" related with their own money; aka same as it's always been, but this one is the a 10 trillion dollar bubble inflated in 4 years that will ultimately (once the extreme leverage being utilized, even by recent, historical standards, is accounted for) dwarf the 2000 bust and the 2008 bust.

With a depression-esque economic backdrop, where nearly 1/2 of new cars sold are based on loans provided to individuals with subprime credit ratings (car buyers taking out bigger loans, set new record; 44% of new car loans provided to subprime credit applicants in Q4), the Federal Government (via FHA) guaranteeing 90% of all new home mortgages (FHA inches closer and closer to bailout), an unemployment rate that would easily exceed 15% if the same metric to calculate it during the 1980s were being used today by the BLS (Alternative Measures of the Unemployment Rate), a trillion dollar Student Loan Bubble underway, consumer debt rising to record 2.77 trillion USD , real wages & benefits falling, and the government and quasi-governmental agencies working hand in hand with the Financial/Banking complex to allow these financial & banking entities to get new, even greater leeway in valuing (unicorn & rainbow methodology) their assets, while the BLS and other governmental and Federal Reserve-related (is the Fed governmental or not? It depends on who is asking and why, according to the Fed) also manipulating every statistical economic data point, from the rate of inflation to the rate of GDP growth (which would show contraction for quite a few quarters, including the last one, if it weren't for statistical manipulation)...

...all is well.

Tue, 03/05/2013 - 19:53 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

It will head north again tomorrow on the Chavez news.

Selling my PM and movng those profits into securities seems to have been the right move, no..?? 

Tue, 03/05/2013 - 20:09 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Zambian government issued 20 year bonds bearing 5% are where it's at (or a sign of just how massive Ben's Big Bubble is).

Tue, 03/05/2013 - 12:46 | Link to Comment Pairadimes
Pairadimes's picture

Just look at those metrics! Why, everything is growing! Some are up by a factor of ten! Just imagine how rich we will all be in five years! Winning!

Holy shit.

Tue, 03/05/2013 - 13:41 | Link to Comment Ham-bone
Ham-bone's picture

Holdings of US Treasury debt

2007 - Foreign... $2T mostly mid duration - Fed...$1T mostly mid duration

2013 - Foreign...$5.5T mostly bills and short duration - Fed...$3T longer duration (thanks to Op Twist)

Any concerns here that Foreign holders of US debt are standing next to the door and by simply not rolling over (not selling) a spike in short term rates from zero to a lot seems plausible???  Ahhhemm, Fed, that will be your cue to buy everything!?!?!

Tue, 03/05/2013 - 13:46 | Link to Comment tbone654
tbone654's picture

Observation, experience, memory and mathematics—these are what the successful trader must depend on. He must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions may be about man's unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities—that is, try to anticipate them. Years of practice at the game, of constant study, of always remembering, enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass.  - J. Livermore...

Tue, 03/05/2013 - 13:58 | Link to Comment tbone654
tbone654's picture

John W. Gates:
The tarantula jumped on the centipede's back And chortled with ghoulish glee:
"I'll poison this murderous son of a gun. If I don't he'll poison me!"

Tue, 03/05/2013 - 20:13 | Link to Comment klockwerks
klockwerks's picture

Checked out the link. This must be part of this recovery I keep hearing about. But...;the Dow is in record territory. Ain't life grand

Tue, 03/05/2013 - 17:56 | Link to Comment resurger
resurger's picture

dont even try to short this fucker .. let the big guys short one another..

relax, lay back , and enjoy the show on ZH TV

Tue, 03/05/2013 - 11:22 | Link to Comment francis_sawyer
francis_sawyer's picture

This all got started when the "bottom picker in chief" got on the teleprompter 4 years ago & told everyone "PROFIT TO EARNINGS" ratios were making stawks a buy...

~~~

Give that man a trading desk & a margin account!

Tue, 03/05/2013 - 11:22 | Link to Comment LawsofPhysics
LawsofPhysics's picture

The monetization of everything and production of nothing of real value.  "winning" - stupid fucks.

Tue, 03/05/2013 - 12:09 | Link to Comment tickhound
tickhound's picture

 

 

The Last Time The Dow Was Here...

Digital Highway Road Sign:

Then: "Speed Limit 55, Radar Enforced"

Now: "A Good Neighbor, Is a NOSY Neighbor!  Report Suspicious Activity.  Call Sheriff XXX-XXXX"

Trickle Down National Security

(Sign is on Rt. 5 South near PAX, between Waldorf and Point Lookout, MD.)

MUST.PROTECT.SECRET.SAUCE

Tue, 03/05/2013 - 12:13 | Link to Comment pods
pods's picture

Need to hack that sign:

A nosy neighbor is a stinking, bloated corpse.

pods

Tue, 03/05/2013 - 12:54 | Link to Comment mademesmile
mademesmile's picture

I saw a sign yesterday that said "sell you gold for gas!"

Trading wealth for consumable products - the new middle class expectation.

Tue, 03/05/2013 - 14:27 | Link to Comment Esso
Esso's picture

I remember when being a tattle-tale used to be looked down upon...

You've come a long way, baby!

Tue, 03/05/2013 - 17:23 | Link to Comment saints51
saints51's picture

Some of us still live by those rules. Unfortunately we are a dying breed. +1

 

Tue, 03/05/2013 - 17:27 | Link to Comment Agent P
Agent P's picture

The Last Time The Dow Was Here...people shopped at JC Penny.

Tue, 03/05/2013 - 11:38 | Link to Comment Son of Loki
Son of Loki's picture

"No banker left behind."

Tue, 03/05/2013 - 12:02 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Things were much better then! I was getting laid on the regular by multiple girls. Now, I am lucky to bust a nut once a month(not hand aided). I want to go back!

Tue, 03/05/2013 - 13:14 | Link to Comment Anusocracy
Anusocracy's picture

Politician's motto: Never leave your banker's behind.

Tue, 03/05/2013 - 12:38 | Link to Comment eatthebanksters
eatthebanksters's picture

Is Sperling the troll that comes through this site and clicks the down arrow on really good comments?

Tue, 03/05/2013 - 20:12 | Link to Comment edb5s
edb5s's picture

Wake up again?  Was the last time the American Revolution?  This makes me think...if a muppet exists, but there is no Goldman around to fleece them, are they still considered a muppet?

Tue, 03/05/2013 - 12:25 | Link to Comment KRUZER
KRUZER's picture

,,,,ha,ha ha,,,,still laughing.

Tue, 03/05/2013 - 12:32 | Link to Comment El Oregonian
El Oregonian's picture

Ben "Captain Edward John Smith" Bernanke: I don't give a damn about that iceberg of debt! FULL SPEED AHEAD!!! ... And that was the last thing we all heard from our 'good' captain....

Tue, 03/05/2013 - 16:03 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Um, yeah. More likely, as he's freezing to death in the water, "What the Hell happened!? I charted the same course laid down in 1929 - how could we hit anything?"

Tue, 03/05/2013 - 14:13 | Link to Comment Clayton Bigsby
Clayton Bigsby's picture

Maybe time to buy some LEAP puts, methinks.....  I'd like to short this motherfucker into the dust when it goes poof...

Tue, 03/05/2013 - 13:20 | Link to Comment Stock Tips Inve...
Stock Tips Investment's picture

Like it or not, the market is not wrong. The stock market depends on many factors, but primarily on supply and demand. Do not forget that the stock market is always ahead of the curve. Current levels do not correspond to the current situation. The current stock market levels correspond to the future situation. No that waste time on discussions, there that earn money.

Tue, 03/05/2013 - 13:28 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

You need to take a closer look at those volume numbers.

They are 1998 levels, with a huge US population increase and certainly about another billion shares available for trading.  And of this 1998 level of trading with extra traders and extra shares, we have HFT doing 80% of it.

This is not a market, and this is not an event.  If you're aboard, you're just pretending, and some Monday morning the market won't open, nor the next day, nor the next day -- all of which triggered the -20% circuit breakers from futures.

Then someone will decree that prices are back to Friday levels.  Who would argue?

Tue, 03/05/2013 - 15:22 | Link to Comment LooseLee
LooseLee's picture

Only a "free" market is not wrong. This market is anything but free. But, to humor all of us, how far out, right now, is this market priced? I'm guessing 2-3 years at least. Not the 6 months the criminals on Wall St. proclaim. So we should expect 3-4% growth by Fall? Ha. What a retard!

Tue, 03/05/2013 - 17:39 | Link to Comment Ham-bone
Ham-bone's picture

"Market" is not wrong...whatever it is...that is the right answer.  Whether it should be there, whether it is based on money printing or a vision of the future is open to debate but whether "market" is right or wrong is not a debate.  It. Is. What. It. Is. 

Plenty of other "markets" diverging from equities (copper, base metals, BDI, bond market, and on).  How these discrepancies will resolve, that's a good debate.  Debating what is now a historical fact, a new high for the Dow (and likely soon to come for S&P)...seems a waste of time. 

Seems Ben has been fair enough bout all this, has said what he'd do and done what he said (not dissimilar to Hitler???).  It's just nobody thought 1) he'd be crazy nuf to do it and 2) he'd be allowed to do it.  By now, seems time has come to believe Ben will do exactly as he says he will (not to believe the predicted outcomes...just his actions).  He's all in.  He is the market.  "He" (and what he represents) is all that matters in valuing nearly everything.  ?No?

Tue, 03/05/2013 - 17:56 | Link to Comment unrulian
unrulian's picture

Last time Dow was here.......i could Buy Ammo

Tue, 03/05/2013 - 11:04 | Link to Comment fonzannoon
fonzannoon's picture

@kaiser..

ssshhhh ssshhhhh

http://www.youtube.com/watch?v=E2VCwBzGdPM

Tue, 03/05/2013 - 11:18 | Link to Comment Captain Kink
Captain Kink's picture

Hilarious!  Really, Thank You.

Tue, 03/05/2013 - 11:36 | Link to Comment otto skorzeny
otto skorzeny's picture

God I hate that fucking song

Tue, 03/05/2013 - 11:52 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

The Temple of Mother Nature (that Louis sings about) wins each time, every time  -- 1,000,000,000:1 -- compared to the classes, churches and temples of... "The sons of perdition", with their snake oil of "Original Debt" bullshit.  And I apologize to bullshit, as it is far more useful.

Tue, 03/05/2013 - 11:04 | Link to Comment smlbizman
smlbizman's picture

this market is like a monk going on a starvation protest and dying from obesity...

Tue, 03/05/2013 - 11:24 | Link to Comment YungHungAndLegal
YungHungAndLegal's picture

or hypothermia from self immolatation

Tue, 03/05/2013 - 12:39 | Link to Comment El Oregonian
El Oregonian's picture

... Or dying from a thousand butter knife cuts...

Tue, 03/05/2013 - 12:40 | Link to Comment redpill
redpill's picture

Or trying to cure a debt crisis with more debt, ha ha! Oh wait..

Tue, 03/05/2013 - 19:28 | Link to Comment Shizzmoney
Shizzmoney's picture

while masturbating.

Tue, 03/05/2013 - 10:58 | Link to Comment FL_Conservative
FL_Conservative's picture

Are there any more nickels in front of that approaching steam roller?

Tue, 03/05/2013 - 12:37 | Link to Comment Atlantis Consigliore
Atlantis Consigliore's picture

THERES NO BUBBLE BUBBLES: http://youtu.be/zJ6VT7ciR1o   theres no Bubble like US, theres no inflation like US, print Berflunky like its OZ  $ 3 trillion,  85 B a month

 

PRINT PRINT PRINTPRINT PRINT.  THERES NO BUBBLE BUBBLES

Tue, 03/05/2013 - 10:59 | Link to Comment Big Slick
Big Slick's picture

As we all know, the number means nothing (except to CNBC anchors). 

Can anyone do a quick calculation on today's inflation adjusted Dow Index compared to last time it was 14164?  That is, where does it have to be (really) to be the equivalent to 14164 the last time?  That number still is not significant, I'm just curious.

Tue, 03/05/2013 - 11:00 | Link to Comment Sudden Debt
Tue, 03/05/2013 - 11:01 | Link to Comment FL_Conservative
FL_Conservative's picture

"we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else."

 

Can I get a date and time for this please?  TIA.

Tue, 03/05/2013 - 11:09 | Link to Comment Big Slick
Big Slick's picture

At a faux low 2.5% CPI, the equivalent of Oct 2007's 14,164 requires about 16,050 today.

Tue, 03/05/2013 - 11:24 | Link to Comment tawse57
tawse57's picture

So do the markets have 16,000 on the DOW in their sights? Will the banksters doing all the share ramping not panic until the DOW reaches the QE inflated price of 16,000?

Tue, 03/05/2013 - 11:16 | Link to Comment Undecided
Undecided's picture

march 21st 2013

Tue, 03/05/2013 - 11:40 | Link to Comment onewayticket2
onewayticket2's picture

Beware the Ides of March

Tue, 03/05/2013 - 11:07 | Link to Comment Son of Loki
Son of Loki's picture

Print moar money!

Tue, 03/05/2013 - 11:37 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Notice that CNBC is no longer allowing comments on the "journalism".  LOL indeed.

Tue, 03/05/2013 - 11:45 | Link to Comment McMolotov
McMolotov's picture

Anytime I'd glance at a CNBC article, there were a couple token "doomer" posters who'd call out all the shit, but they were drowned out by the enormous horde of idiots who thought Bernanke was the fucking savior or something.

It was annoying as hell, but part of me hoped to be able to click on a "Dow Drops 3,000" article one day to hear the bulls crying in their beer and discussing the various ways they'd be killing themselves that night.

Tue, 03/05/2013 - 11:02 | Link to Comment FL_Conservative
FL_Conservative's picture

There's NO inflation.  Haven't you been listening to Bernanke & Co??

Tue, 03/05/2013 - 11:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The crap I have no interest in buying still costs the same.....everything else is going up.

 

Does anyone have a source for 22 long rifle bulk ammo? I'm willing to pay almost anything.

Tue, 03/05/2013 - 11:21 | Link to Comment Ms. Erable
Ms. Erable's picture

.22LR? Good luck. Go to Gunbroker.com and you can bid on lots that are selling for roughly 3x retail (about .15c/round): http://www.gunbroker.com/auction/SearchResults.aspx?Keywords=.22lr

Tue, 03/05/2013 - 12:44 | Link to Comment Go Tribe
Go Tribe's picture

Our WalMart has plenty of .22LR.

Tue, 03/05/2013 - 18:22 | Link to Comment THX 1178
THX 1178's picture

LIAR!

Tue, 03/05/2013 - 11:29 | Link to Comment Overfed
Overfed's picture

It's been going for $30-$50/500 at the local gunshows. A couple of weeks ago, I did manage to scrounge 10 (50 round) boxes of all different types out of a bin for $12.

It's out there, ya' just have to look.

Tue, 03/05/2013 - 12:04 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

A couple weeks is like doggy years in the ammo market.

Tue, 03/05/2013 - 18:20 | Link to Comment Overfed
Overfed's picture

I had a table at a show last Saturday, and 22lr was widely available at $50/500 or 550 rds (10 X 50rd. boxes or loose bulk pack). Here and there, it was $40. One guy had some for $25, but it went fast.

Tue, 03/05/2013 - 12:25 | Link to Comment hitbox
hitbox's picture

janet napolitano might be able to sell you some.

Tue, 03/05/2013 - 13:39 | Link to Comment AussieDogLover
AussieDogLover's picture

bought 2000 rounds in December- had no idea that it would be so valuable now! Hope my betting against the market fairs that good

Tue, 03/05/2013 - 11:13 | Link to Comment blindfaith
blindfaith's picture

 

Disinformation is to blame, and lazy stupid people who want it handed to them.

Yes, well now, if you ask the average person here in North Florida about inflation, they will either look at you like a cow, or say any and every thing is why except the right answer.  Now, you want this to BEGIN to stop, stop listening to FOX and Rush (say how is that coke habit doing theses days?) who HELP the disinformation being bought hook, line, and sinker.

Tue, 03/05/2013 - 11:43 | Link to Comment knightowl77
knightowl77's picture

Oh yea and you get the truth from the shills @ MSNBS that just hired Gibbs and Axlerod ...or NBC,ABC,CBS or CNN that cover nothing of any real relevance to what is going...you probably still think guns are evil...Troll

Tue, 03/05/2013 - 11:56 | Link to Comment nodhannum
nodhannum's picture

Back to the DU Troll.  Our fuhrer is pleased with your rant.

Tue, 03/05/2013 - 11:23 | Link to Comment tawse57
tawse57's picture

I would like to know the answer to your question also - as then we might get a better idea of where a QE3 funded DOW and S&P500 'new high' really is.

The question now is just how much more they will pump it? I suspect Bernanke wants his legacy to be able to say that he over-saw the DOW and S&P 500 at record highs...

Throw in the 85 billion to go along with his ego and it would not surprise me to see a few hundred more points higher on the DOW yet.

I am a bear. I want this thing to crash. I have been waiting for it to crash but I can't see any sign of it doing so for a few hundred points more yet.

Tue, 03/05/2013 - 12:48 | Link to Comment Go Tribe
Go Tribe's picture

Why should they ever stop pumping it? Seems to me they've happened upon the magic formula. Bonds still giving a nice return and the 10-year will be a bargain anywhere above 2%. The only things that won't win in this deflationary scenario are precious metals and a rare few hold them.

Tue, 03/05/2013 - 14:45 | Link to Comment Esso
Esso's picture

Yeah, the majik formula works, until it doesn't.

You know what they say: On a long enough timeline...

Tue, 03/05/2013 - 11:45 | Link to Comment fuu
fuu's picture

The shitty BLS Inflation Calculator says 15731.50 is the new 14164.50.

Tue, 03/05/2013 - 13:28 | Link to Comment FSM_47
FSM_47's picture

Inflation Calculator: Bureau of Labor Statistics - http://s.shr.lc/Z7l6w7  $15730

Tue, 03/05/2013 - 11:38 | Link to Comment holgerdanske
holgerdanske's picture

 

"BTFC (Buy The F'n Criminals)"

 

Eeerh yes, right! Not bury, by any chance?? Yes?, well? no?!

Dyslaxie lures teh rowld!!!

Tue, 03/05/2013 - 11:46 | Link to Comment Randall Cabot
Randall Cabot's picture

Zimmerman now says S&P to 1590!!

"We've been looking at 1,480 as critical support. That held. So there's a chance of one more leg up, maybe to 1,590, best case. Everything leads to a big brick wall overhead at 1,590."

 

 

 

 

http://www.cnbc.com/id/100519002   

Tue, 03/05/2013 - 13:20 | Link to Comment God Bless The V...
God Bless The Virtuous's picture

Excuse me Jacque, I believe your spelling was slightly off, if I might help you friend.

It,

BURY the F'kn Criminals!

I do believe that is the right sentiment.

Tue, 03/05/2013 - 10:48 | Link to Comment SeverinSlade
SeverinSlade's picture

And just think.  It ONLY took tens of trillions in liquidity injections by global CBs.  So easy!  Krugman's right, let's print 100 trillion and get the DOW to 36,000 and everyone on planet Earth can retire.

[/sarc] of course.

Tue, 03/05/2013 - 10:56 | Link to Comment otto skorzeny
otto skorzeny's picture

that smug little fucking jew was on charlie rose last night- it's easy to see where the east coast arrogance of guys like him and summers and geithner will take us straight to hell with them

Tue, 03/05/2013 - 11:00 | Link to Comment kaiserhoff
kaiserhoff's picture

everyone retire?  WTF?

Keep yo hand off my kibbles & bits.

 

Tue, 03/05/2013 - 11:04 | Link to Comment Groundhog Day
Groundhog Day's picture

Krugman told us deficit's don't matter so and it looks like he was right.  I'm going out today to max out all my credit cards cuz thats the winning formula.  I'm tired of being a loser

Tue, 03/05/2013 - 11:04 | Link to Comment FL_Conservative
FL_Conservative's picture

You mean as in "not rated", given that both Egan and S&P have been sent to the penalty box for game misconduct?

Tue, 03/05/2013 - 13:44 | Link to Comment NEOSERF
NEOSERF's picture

And that GDP growth rate too...odd thing about the entire list is nothing on it apparently affects ipad sales, food sales, etc...if you have enough inflation you can show ISM growth, retail growth, GDP growth..etc...less volume offset by more cost.

Tue, 03/05/2013 - 20:06 | Link to Comment Buck Johnson
Buck Johnson's picture

This is going to end very very badly.

Tue, 03/05/2013 - 10:38 | Link to Comment Cultural Capital
Cultural Capital's picture

Change you can believe in. 

Tue, 03/05/2013 - 10:43 | Link to Comment Divided States ...
Divided States of America's picture

Ben Bernanke is truly the financial David Copperfield...and CNBC is definitely his props.

 

Tue, 03/05/2013 - 10:57 | Link to Comment resurger
resurger's picture

Harry Houdini is no match to the chair satan

Tue, 03/05/2013 - 10:44 | Link to Comment lakecity55
lakecity55's picture

Foward! Soviet!

Tue, 03/05/2013 - 11:03 | Link to Comment kaiserhoff
kaiserhoff's picture

Rise above.  More Hopium.

Tue, 03/05/2013 - 13:36 | Link to Comment mkucstars
mkucstars's picture

Buddy can you spare a dime?

Tue, 03/05/2013 - 14:54 | Link to Comment Esso
Esso's picture

Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)

Tue, 03/05/2013 - 10:38 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

We will be focusing on the DOW today.....and nothing else.

 

You can leave now.

Tue, 03/05/2013 - 11:03 | Link to Comment Awakened Sheeple
Awakened Sheeple's picture

Fuck it!

 

Let's knock out S&P's high while we're at it!!

Tue, 03/05/2013 - 11:09 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The new printers have arrived.....why the hell not?

Tue, 03/05/2013 - 11:16 | Link to Comment Divided States ...
Divided States of America's picture

Well, the Dow is late to the new high list, Student loans, entire US Debt, # of ppl on food stamps, firearm sales, credit card debt, lies by politicians. Those have been hitting new highs the last few years...and still going higher.

Tue, 03/05/2013 - 10:38 | Link to Comment bania
bania's picture

nice nominal accomplishment!

Tue, 03/05/2013 - 10:39 | Link to Comment Downtoolong
Downtoolong's picture

Great, now we can finally all sell at the same time and get our money back, right?

Tue, 03/05/2013 - 10:54 | Link to Comment Real Estate Geek
Real Estate Geek's picture

On three. Ready? One . . . Two . . .

Tue, 03/05/2013 - 10:39 | Link to Comment Water Is Wet
Water Is Wet's picture
  • US Debt as a Percentage of GDP: Then ~38%; Now 74.2%

When in doubt, tell outrageous lies.

Tue, 03/05/2013 - 10:45 | Link to Comment Joe Davola
Joe Davola's picture

Which is fudged worse - the numerator or the denominator?

Tue, 03/05/2013 - 11:02 | Link to Comment DaveyJones
DaveyJones's picture

the rumorator

Tue, 03/05/2013 - 12:24 | Link to Comment B2u
B2u's picture

yes

Tue, 03/05/2013 - 10:54 | Link to Comment Woodyg
Woodyg's picture

That doesn't count the Social Securityy funds stolen into the general fund - of course that makes it a tax increase on the poorest and middle class but whose counting.

The fact they trot out the number minus the SS funds proves the politician has no intention of honoring those payments working Americans made for decades.

What's guaranteeing those SS funds get repaid? Nothing - it's just a piece of paper with some scribbling on it.

Kind of like that old document called the constitution - it's just parchment - that's all.

Tue, 03/05/2013 - 10:58 | Link to Comment Joe Davola
Joe Davola's picture

Government's version of GAAP vs. non

Tue, 03/05/2013 - 10:39 | Link to Comment Glass Seagull
Glass Seagull's picture

 

 

But what was the total US share market float?

Tue, 03/05/2013 - 10:39 | Link to Comment Shizzmoney
Shizzmoney's picture

Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million

Yet we reach all time highs.

Man is this society fucked.  What a lot of dumb, stupid, ignorant people.

BTW I love how the only deficit that deleveraged was the Household Debt. 

Tue, 03/05/2013 - 10:58 | Link to Comment Hughing
Hughing's picture

..and it's the household deleveraging that will get the blame for (cause of)  the Fed's balance sheet. Never mind that the inflation wipes out the gains from deleveraging.

Tue, 03/05/2013 - 11:00 | Link to Comment Shizzmoney
Shizzmoney's picture

Thankfully for our corporate masters, wage deflation is at record levels......the consumer would have deleveraged MORE if they got paid like they should for their labor.

Tue, 03/05/2013 - 12:35 | Link to Comment Totentänzerlied
Totentänzerlied's picture

Bullshit. They would have celebrated with a shopping spree like they always have. They dug their own grave but now they're too stupid and arrogant to just lay down and die.

Tue, 03/05/2013 - 14:02 | Link to Comment Shizzmoney
Shizzmoney's picture

This is true...if you are over the age of 50.

Those 50 and older actually INCREASED their household debt by 8% since the Great Recession started.....and those under 35 have actually deleveraged at a rate of around -28%.

So, the younger worker is starting to get it: get lean, get liquid, and pay off debt.  Then you don't have so many monetary pressures when SHTF.

Boomers?  They are still doing the same old shit.

 

Wed, 03/06/2013 - 01:19 | Link to Comment Boxed Merlot
Boxed Merlot's picture

So, the younger worker is starting to get it: get lean, get liquid, and pay off debt. Then you don't have so many monetary pressures when SHTF...

 

I sure hope so.  I, unfortunately am one of your "boomers" that hopes my kids share your outlook.  After trying to be responsible and not buy into the joke of residential property valuations, I nonetheless suffered at the hands of the financial criminals decimation of the US middle class.  Lean, liquid and out of debt is admirable but please don't abdicate the rule of law in your quest for fulfillment.  Not all boomers are as FOS as you may presume.  Anarchy is not all it's cracked up to be, imho.

Restore the Constitutional Republic. 

Tue, 03/05/2013 - 10:40 | Link to Comment Lost Wages
Lost Wages's picture

What? Dow Chemical stock is at $14,000? My buy & hold strategy finally paid off!

Tue, 03/05/2013 - 10:40 | Link to Comment Bad Attitude
Bad Attitude's picture

Looks fantastic. What could possibly go wrong?

Time to top off your stocks of beans, bullets, bandages, and PMs.

Forward!

Tue, 03/05/2013 - 10:41 | Link to Comment Jim B
Jim B's picture

Green Shoots anyone? 

 

 

Tue, 03/05/2013 - 10:42 | Link to Comment lakecity55
lakecity55's picture

Think, tho, if you count in 10 years of inflation, it's (the market) probably only 10,000 in 2002 dollarz.

Tue, 03/05/2013 - 10:59 | Link to Comment jaap
jaap's picture

And 6615 in gold terms...

Tue, 03/05/2013 - 10:59 | Link to Comment Global Hunter
Global Hunter's picture

The DOW is emulating its little cousin the Harare Industrial Average

Tue, 03/05/2013 - 14:02 | Link to Comment matrix2012
matrix2012's picture

@ Global Hunter

I  just overheard the Harare, did you really mean the Harare in SIMBABWE, Africa???

I learn that its dollar is the largest... surely Uncle Ben gets something to learn from there eventually.

Tue, 03/05/2013 - 10:42 | Link to Comment thismarketisrigged
thismarketisrigged's picture

just like in sports where we here all these analysts saying how someone on roids should have a major asterisk next to there name, well this market should have 20 x the asterisk on this run. its not impressive when u pump stocks up by printing money. anyone can do that.

 

no stock is being printed as much money as google. fucking joke

Tue, 03/05/2013 - 10:42 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

See.....I told you.

This time is different.

Tue, 03/05/2013 - 11:06 | Link to Comment DaveyJones
DaveyJones's picture

it all depends on what the meaning of is is

and who we fuck next

and what color we dress it

Tue, 03/05/2013 - 11:13 | Link to Comment kaiserhoff
kaiserhoff's picture

I did not have sex with that woman.  She had sex with me.... uh, wut?

Tue, 03/05/2013 - 11:38 | Link to Comment Meat Hammer
Meat Hammer's picture

That's like saying "I'm not gay!  He sucked MY dick!"

Tue, 03/05/2013 - 13:05 | Link to Comment DaveyJones
DaveyJones's picture

it's exactly the same...except the tax write off

Tue, 03/05/2013 - 13:51 | Link to Comment What is The Hedge
What is The Hedge's picture

As they say, "It ain't gay if you're pushing!"

Tue, 03/05/2013 - 10:42 | Link to Comment Cursive
Cursive's picture

It is a strange thing to lose all faith in one's society.  It's a mirage, a house of cards.  At least I have my guns and my religion to cling to.  I pity those who do not believe in an afterlife for it sure must be a bleak existence.

Tue, 03/05/2013 - 10:48 | Link to Comment fonzannoon
fonzannoon's picture

It's all good cursive. I am not religious. I do have faith that there is something after this but I don't know what it is.

I hope people don't let this whole facade jam them up too bad mentally. Go for a walk. Adopt a dog. A dog can teach you a lot.

This will go wherever it goes. I do hope we institute a "punch a rich banker dude in the face day" at some point. That would make me happy. There are a lot of us on here. We would jam up the cour system so bad either we would be let free or they would have to free some marijuana users from the prison's to make room for us. It would be a net win either way.

Tue, 03/05/2013 - 10:53 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Don't fall for the False Expectation Appears Real trade. 

But do make hay while the sun shines.

Tue, 03/05/2013 - 18:54 | Link to Comment howenlink
howenlink's picture

If you look you can even find people in your own community who side with you.  But you have to get off Facebook to do that.

Tue, 03/05/2013 - 11:07 | Link to Comment Raymond Reason
Raymond Reason's picture

Have some sympathy for those of us who do believe in an afterlife, and are in constant fear of hell. 

Tue, 03/05/2013 - 11:06 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

"There are no atheists in the foxhole of a mansion or palace." - Kirk2NCC1701

Long organized region for when TSHTF.  Because then it will be really handy -- for the rich:  It keeps the poor from murdering the rich, and the rich will pray & hope that they don't get killed by the poor.

I have abiding faith that, in the long run, Mother Nature will get her kids to toe the line, or get booted out of her pool.

Tue, 03/05/2013 - 11:22 | Link to Comment fonzannoon
fonzannoon's picture

There are no foxes in aethist holes but we never talk about that do we?

Tue, 03/05/2013 - 12:04 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Ah, but did you hear that "There are no atheists in foxy holes"?  1/2 the population has heard the outcries made by the other 1/2.  ;-)

Tue, 03/05/2013 - 13:45 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And that is the difference between wisdom and belief. Both require accepting that there is more to reality than what your field of perception sees. Belief is blind and requires no thought while wisdom is sight and does. Belief without sight is for fools.

Tue, 03/05/2013 - 10:42 | Link to Comment ziggy59
ziggy59's picture

Translation..Its all great here on Bizarro World

Tue, 03/05/2013 - 10:48 | Link to Comment Sudden Debt
Sudden Debt's picture

AS BERNANKE AND OBAMA WOULD SAY: NUMEROLOGY!!!

http://www.paulsadowski.com/Numbers.asp

You entered: DOW JONES

There are 8 letters in your name.
Those 8 letters total to 33
There are 3 vowels and 5 consonants in your name.

What your first name means:

Irish Male Dark-haired.

Your number is: 6

The characteristics of #6 are: Responsibility, protection, nurturing, community, balance, sympathy.

The expression or destiny for #6:The number 6 Expression provides you a truly outstanding sense of responsibility, love, and balance. The 6 is helpful and ever conscientious, making you quite capable of rectifying and balancing any sort of inharmonious situation. You are a person very much inclined to give help and comfort to those in need.

Tue, 03/05/2013 - 11:00 | Link to Comment Kilgore Trout
Kilgore Trout's picture

Hey, this Dow Jones character sounds a lot like ME!

Tue, 03/05/2013 - 19:12 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

Some one shoot me while I'm happy!

Tue, 03/05/2013 - 10:43 | Link to Comment LawsofPhysics
LawsofPhysics's picture

The complete monetization (by a relative few) continues.  Isn't fascism great?  Bailouts for them, bankruptcy and debt-slavery for everyone else.  Anyone else notice that CNBC is no longer allowing comments on their "journalism".  Full frontal naked bannana empire bitches.  Buy low and sell high, so long as selling is still allowed, I guess.  Some things never change.

Tue, 03/05/2013 - 11:14 | Link to Comment mtomato2
mtomato2's picture

But there's always money in the banana stand...

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