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The Last Time The Dow Was Here...
"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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This really is arrested development.
YES WE CAN! HOPE AND CHANGE!
Fuck mainstreet!
i want to fucking punch bob pasani.
first he says that china rebounding overnight is a main factor in todays rally. really bob? really? u mean when china dropped nearly 4 percent the day before, we still went green, but now that they are up 2 percent lastnight, we follow there lead?
same with europe. europe down 2-3 percent we go green and dont follow, europe positve 2-3 percent, we deff follow there lead.
Bob Pisani has one job and that is to make you lose your freakin mind. He probably lives in a nice house. When you walk in there is plastic on all the furniture and his family members are all mummified around the house where they committed hari kari. He sits there by himself and eats mac and cheese while practicing his china growth story on their petrified corpses.
You know I'm right Bob!
It's all a facade of relevancy for the financial news outlets.
It's not that moron Pisani's fault alone obviously because every financial channel and website does the same instant gratification news story for the zombie viewers/readers because clearly that is what sells. Today it was China, yesterday it was the iPhone 0, the day before that it was Eurozone being saved...and the headlines only last so long for the markets to be ramped right before the rug is pulled out from under anyone that actually believes the bullshit. Tell me you haven't seen a completely incorrect and farcical headline stay up longer than it should; something saying the reasons why stocks are skyrocketing when they are falling. Every day, every night, in every market around the world these idiot investors must be TOLD what to believe or it's not real.
I mean, if they don't have a reason for why the markets move what will people do? You must believe in the financial press they must stay relevant!
How else would you find out that Tiger Woods was a sexaholic if not for the finance channels? How else would you know that some Whoredashian placed her ass on a trading desk if not for the financial news? How else would you hear about how gold's bull market ended 5, 6, 7, 8 years ago if not for them? How else would you know that housing bottomed 1, 2, 3 and4 years ago if not for them?
Relevance...and they know they don't have it but they sure are trying to make it seem that way.
either way his family is mummified and he eats mac and cheese alone on his plastic couch while talking to them. I don't think that point is even debatable.
True. I up arrowed you but that was all I could do. I'll buy you an ice cream some day.
LOL
For those that remember 1999 the markets climbed for months, the NASDAQ soared. It was crazy, it made no sense. Then, the crash came in 2000. Now 12 years later, the QQQ's are nowhere near their old time highs. History may not repeat itself, but it does rhym.
Job well done Kevin !!!!
Priced in gold, not so good
What do you price your gold in?
Troy oz.
And also purity for the self dug variety.
pods
Mr. Spock tells me that he 'loves' it when financial people talk Math, not Meth. Or use the former, instead of the latter.
"If we normalize the daily stock prices, and therefore daily stock indices, to the daily price of gold, we get a more accurate numerical and graphical result as to what it really happening", says Spock.
To which I say to him: "You mean, Mr. Spock, if I price these Complex Numbers (with real and imaginary components) of 'The Market' relative to real stuff, I get better information?" "Yes, Captain. But in your case, you may price it in... from the Virgo cluster". I didn't hear the last part. Kirk out. ;-)
Seriously though, if this hasn't been done already, I'd like to see the Excel data & graphs for said prices and debts normalized to gold.
Other than those few things, I don't see a problem
Iwatches will be falling from the skies...
Its morning again in Dumbmerica...
head out to walmart after paying $5 dollars a gallon for yo gas and buy some half empty bags of potatoe chips "at all time highs".....
what a fucking joke......
Support Walmart! They are reporting slower than ever sales. The NEW NEW economic un-recovery where all time high is all time stupid!
Put me down for one half share of Google please.
<And one of those new fine art prints you have for sale Banzai7.>
Better round that out with some AAPL and FB. Diversification is the key.
Banzai that's brilliant. Simple. All the implied religious faith too... powerful irony. more pls :)
This should be printed on Highway billboards WB7
Analogue of Jacob Marley?
Outstanding. His very last words to Scrooge.. " While there is still time, Save yourself"
-A Christmas carol, 1951
Or analogy to a Bob Marley tune: No banker, no cry.
And I thought I had lost my ability to laugh. This should be tucked away into the historical archives for future historians. "Mad Ben" nails it, the whole of the madness and the menace. This is a masterpiece.
This is working out just like they planned. More money for the usually subsidized upper 5-8% and more financial burden on everyone else. Meanwhile the sheople drive around cluelessly to the next shopping experience.
Expect nothing to change until this untenable system falls apart under its own weight...for the lower 85-95%. The upper 5% will just move on to new hunting grounds like they always do.
exactly! And remember that old saying 'what the wiseman does first, the fool does last'. So the lemmings that pile into equities now are so going to get what they didn't expect.
like the sheeple say: IT'S OUT OF OUR HANDS! WE CAN'T DO ANYTHING ABOUT IT! ... did you see where the remote of the TV is?...
Planned? Not so sure. Hanlon's razor. i think they are totally, fucking clueless.
That's likely true too. However, the whole thing was planned from the start to ensure that wealth flows upward and that will continue until it falls apart. Sure, a few hustlers and players with big bucks will get taken out and they will be held up as poor victims and to show that the big boyzzz get hit too. But you can bet the well connected insiders will walk away or be driven away in their limo, float away on their yacht, flown away in their jet, etc... unscathed.
It's probably a combination of the two. The system probably was designed to keep the wealthy, wealthy. But I think it has grown into a beast that they no longer know how to control, and at this point they are going to milk it for all they can.
One system's downfall is another's rise. I've been thinking long and hard about this and I think I have at least conceptually a way to undermine this whole mess and restore a free market that would be a libertarians wet dream and can't be regulated.
Going from concept to reality is another story but the fundamentals are already in place.
DCH -- So how much longer you gonna keep us in suspense?
If you want to take it offline, just say the word and we'll arrange it (although you know there's nothing online that goes unexamined anymore).
.
Bubble Bernanke and the Fed keep the QE pedal mashed it has to go somewhere. The member banks buy stocks.
Now 85 billion per month. If that doesn't work Bernanke will do much more. Bernanke increases it to 130 billion per month? Then keep increasing it.
Let me know when Bubble Bernanke is doing $250 billion per month in QE.
The adjusted monetary base was $700Billion.
Today it is $2800 billion. A trillion dollars doesnt seem to go as far as it used to.
on that basis the DJIA is at : 14200/4 = 3550!
So yes let her rip up! As the USd invested in risk asset value buys less earnings per buck invested.
Its a crazy biflationary world : as the $ price of the profit premium rises, the price of an Ipad in $ drops.
Thank God IPads are dropping, I'm staving over here.
http://en.wikipedia.org/wiki/Price-weighted_index
A price-weighted index is a stock market index where each constituent makes up a fraction of the index that is proportional to its price. For a stock market index this implies that stocks are included in proportions based on their quoted prices. A stock trading at $100 will thus be making up 10 times more of the total index compared to a stock trading at $10. This is different from a market weighted index where stocks are included based on the equity market values of the underlying companies, i.e. the quoted stock price multiplied by the number of shares outstanding.
The development of a price-weighted index will not accurately reflect the evolution of the underlying market values. This is so because the $100 stock above might be that of a small company and the $10 stock that of a large company. A change in the price quote of the small company will thus drive the price-weighted index (as it makes up a large part of the index) while the combined market values will remain relatively unaffected without changes in the price quote of the large company. Moreover, constant rebalancing needs to take place. The quoted price for each stock used in the calculation of the index is redefined so that each index constituent has an appropriate weight in the index at each rebalancing date. An Adjustment factor is introduced to a stock, that is assigned to the stock at each rebalancing date, which allows for price weighting. For index component, the value would be[1]:
Adjustment Factor= Index specific constant "Z"/(Number of shares of the stock*Adjusted stock market value before rebalancing)
The Dow Jones Industrial Average and Nikkei 225 are examples of price-weighted stock market indexes.
DOW JONES
calling bob janjuah; I wanna my money bakk!
calling robot trader : yor the man!
calling humpty dumpty : now, now, stay on that wall and don't go all baloony.
Yes, but then we were operating in, at least, quasi-reality. Now it's complete fantasy, so, unfortunately, the comparable statistics are irrelevant.
lie rates then 67%, now 98%
The support for equities as it always has been and will be is enforced inequality. Sorry but there is no bubble in equities...the bubble that burst in 2008 was a PROPERTY bubble...and the Fed blowing that up (criminally in my view) in fact was putting a floor in equities as much as a top. The corporate responds has been beyond all measure extraordinary and equities will push higher from here fully knowing that they only need the bare minimum of growth to sustain their business models. I expect cap ex to increase impressively for the rest of the year, sales across all platforms and outlets to continue to improve and profit margins to maintain if not expand as USA Inc's "incomparable advantages" simply overwhelm the competition which has been utterly OBLITERATED these last two years. The economy is a problem for the POLITY not the markets...and as good as USA Inc will be doing America Inc looks in REALLY bad shape. Taxes, revenues, and a war all gone south, collapsed cities, broken budgets...nothing but interest payments on the debt for "your benefit check." we'll see what the solution our "Boomers" wish to provide. "they doth protest period" comes to mind.
There is no corproate cash for cap ex. The cash doesn't exist, it is all faked on paper. What cash there is has been used for share buybacks to boost EPS in the hopes the algs will run the stock higher giving the insiders a higher ledge to jump off with the mother of all golden parachutes.
THAT IS BUSINESS TODAY.
I am knee deep in the muck of real business and I can tell you for an absolute fact that it is worse than ever. You can't have real profit without real sales. Crap bought on credit is not a real sale if the credit is never paid.
In tech, at least, there's billions of corporate cash. The problem is there's no cap ex worth spending it on, because real market growth is gone, what's left is unpredictable and as a result it's not a rational decision to drop billions on new capital improvements -- no payout. This is a huge red flag about where the economy really is at, when companies sit on cash because there's no place they can invest it (in a real sense) that has a ROI.
I'm seeing the same as far a business goes. I've mentioned it before a couple weeks ago, but the new dirty little secret is how bad off many IBs/hedges are again.
"Sorry but there is no bubble in equities...the bubble that burst in 2008 was a PROPERTY bubble"
looks like you bought their line
we're not dealing with "equities" here, we're dealing with an entire credit economy and system that is a bubble. A bubble compared to the real resources that allegedly back it.
The largest in human history
"No one could see it coming!" is coming.
" No one could see it coming" came and went.... Now even Cramer can see it coming, whats that say? DOW 20,000?
If not The Ides of March, then beware of an October Surprise.
JIT for the blame-game (blame it on GOP!) and Congressional mid-terms in 2014.
hey bernanke and obama u fucking douchebags, if this economy that u guys brag about is doing so well that we r at all time highs, why the fuck dont u stop buying 85 billion in treasuries a month and then we will really see how much this market has to do with the real economy.
i fucking hate u 2 douchebags and i really wish u were jailed bc that is where u belong, along with mr blankfein, bullard, dimon, and all of wall st.
u fucking criminals, stealing from the hard working middle class ppl. u will be punished one day fuckers
LNKD is P/E 9XX+,
Please buy!
"we all know it's going to end badly, but in the meantime we can make some money" this pretty much encapsulates the current soul of our society. In other words, live of the moment.
........ 'up up and awaaaay, although caution is advised the next line of resistance remains firmly at Dow 36000'.......said the dumbass analyst.
I used to like the idea of buying canned tuna for security. Then I was told it was radioactive. Then I found out it wasn't canned tuna but something else that they were putting in the cans. I no longer like the idea of buying canned tuna.
buying canned tuna...I was told it was radioactive...
Nah, Steve Miller had it right,
"Had my money
I tell you what I'd do
I would go downtown
Buy a Mercury or two
Cause I'm crazy 'bout a Mercury
Cruise up and down this road
Up and down this road..."
I'm kinda sensititve about this because here in the central valley of CA we got our fair share of the stuff from the gold rush in the delta region still. We got the mercury and the gold sits on bedrock in Manhatten. Great trade, huh?
It's called INFLATION, you dickheads.
It's not inflation if you get more features. The Dow just has more features, now.
...and like new cars, the middle class are no longer participants
No it's just plain old inflation. No need to add any complexity to explain it.
The DJIA is still 11% off the 2007 high in real terms.
BM, I'm swapping Ben-Bucks for 'Argie' cattle next month. There's blood in the streets down there ... Deals galore. Time to buy. And time for... Tango Unchained. Yi-haa, ride 'em, cowboy! ;-)
TRAV!
Well well well, and the winner is? BERNANKE
This Viral Video Will Change How You Think About Wealth Distribution in the U.S. http://www.fastcoexist.com/node/1681517
Roll the motherfucking guillotines already.
But "Phasers* off stun!" would be so much more fun. Chekhov and Sulu are twitching already. And I just want to hear Bones say "He's dead, Jim. He's dead!" Were it not for that pain-in-the-ass Vulcan citing me Starfleet rules & regulations. Damn that Vulcan!
* And I had the Resonator cavity of my phaser re-tuned recently too. The Hermetian modes are looking just right. I'm ready for... "population inversion", baby! ;-) A physics/laser joke, I just made up. LoP and a few others will 'get it'. Really hope that Bernanke & Friends really "get it" one day too. Kirk out.
http://www.reuters.com/article/2013/03/05/us-auto-loans-idUSBRE9240KQ201...
Nothing bubblish about this at all.
They have only eased standards for certain corporations, like GM, and for certain buyers, those most likely to be getting government assistance.
I have an 820 credit score, no debt, and a $60k job. I was denied a loan for a new car for my wife. To try and save the sale I was given the option of a 6.9% 60 month loan from Wells Fargo, which I declined.
A black couple most likely on welfare with a 520 credit score, took a peak at the desk, got a 72 month 4.9% loan.
Banks now see working people as a higher risk because it is more likely that I will lose my job and not be able to pay, than the black welfare trash lose their government checks.
Example 987465321 that the middle class is screwed.
i own a home free and clear that I bought after the bust for pretty much what it is still worth but the loan officers have a hard time returning my calls on a request for a HELOC
My brother's business is in automotive parts, and he's pretty well networked. Here is what he told me is happening in my state:
The dealers want to (have to!) move cars, and they will sell to anyone with a pulse, as long as they can sell the paper on the loan, which they can after a single payment has been made. That's why you got the Wells Fargo offer. Most likely, the dealer is getting a kickback on the loan based on rate, and since you had a good credit score, they were going for more $ on the rate kickback.
The welfare couple has to make that first payment and has no money, so they didn't go for a rate kickback and went with a low interest rate.
The crazy thing is, after the first payment, they can stop making any more. They'll get the car for six months, and it'll get repo'd.
The very next day, they can go to the exact same dealer, and get the exact same deal. No penalty. One dealer my brother works with has had this happen with someone four times.
I have to presume there's some sort of protection for the bank here or they'd put a stop to it, but I'm sure what you described happened. I don't believe it has anything to do with working people being higher risk, given the cars are getting repo'd from the low credit score people. The "risk" to the bank here looks more and more like you will make the payments, and in this fucked up world that's somehow a bad thing.
I dare not turn on CNBC today as I know I'll throw up all over my new tv.
Drudge just linked to this page. Back away from your television.
Oh shit.
MEMO to Drudgies:
It's called a PONZI SCHEME.
although they are far from alone, I do not think they have mentioned the name Bradley Manning in two years
Thank you for the warning, this did not occur to me. Alas, it's too late but others may be saved...
RULES #1, #2, #3, #4, #5: Don't Fight The Fed. They have a bottomless pit of money in order to influence any markets they want in any direction they want.
correct, well so long as their paper promises are still being accepted. Therein lies the rub for military spending, because without the U.S. military, that paper would not be accepted in many places.
Correct, LoP. It's the MOM Principle: Mind Over Matter. Mind Over Matter. They don't mind, and you/I don't matter. /sarc
Yeah, don't fight the Fed...RAPE IT. With a baseball bat...
I'm going to go drive my DIM 652.
dont worry, the dow will correct tomorrow, we will drop a whopping 5 pts tomm, that of course will be followed by the next leg up to 15000 which should be reached by end of march at latest, whether govt shuts down or not on march 27th.
remember market is pricing in govt shut down(sarc), if it does not shutdown, dow 16000 by end of march
dont worry ppl on food stamps, out of jobs, dow is at all time high, all is good in bernanke and obamas world.
also, i love how these assholes will say if the market falls 4-5 percent in a week that its just a healthy correction and nothing else.
i fucking hate these ppl so much, i will throw a party the day they r all prosecuted
74% of GDP? Ummm Try 104% of GDP
I was thinking the same thing
Did Cramer really state that?
They (the govi and the Fed) did it. They backstopped everything required and effectively forgave all of the sins. Buying the 2009 low (buying and holding forever; collecting dividends) was the way to go. Many never imagined they would do what they did. The debt and the money supply are the biggies.
Chance this shit will be fixed: Then 0%, Now 0%.........
Alrighty. So the last time we were here on the DOW, everything was either half the price, and twice as good, as well as half as bad.
I've got some champagne, wine, and plenty of beer, as well as some fine coffee and my exquistehomemade herbal tea(these are for you non-alcohol drinkers out there)
So head on over everyone! Party at LoF's house! We aint gonna stop until the break of dawn.
R.S.V.P.
Try to sell the DJIA and exchange it for cash. Can you buy the same goods you could when it was at these levels in 2007? Or, did your purchasing power get cut in half?
Gold is saying it's cut in half...
I am in awe...so is the press...its a miracle I tell ya..a miracle...its amazing what printing can do....and if we keep doing it for ten more years like Krugman wants..where will we be????
@Lord of Finance, indeed, that is the tragedy , the scumbags have made things 2x worse for the the average person while keeping them stable for the crooks in charge (still same lifestyle, still same money, still same power), while the cost has been passed on to everyone else. One day, the people will redress this crime of epic proportion, i am sure.
JC is to be trusted. He is not a stooge. He is for the people! Tell me JC, when should I sell? I will keep it to myself...
Depends on which 'JC' you ask. ;-)
Behold! A tsunami of fiat currency right in front of youuuuuu....
And much more being printed by Bernanke and the Fed.
There is no way form them to stop, so they won't.
Trillions more in fiat coming to support this game. Ever more required to sustain. Until one day it triggers a currency crisis and it all collapses.
The people who are popping champagne corks about the DOW are the same people who lament the widening gap between the rich and the poor and the erosion of the middle class. Anybody got a wall I can use? I need to bang my head on it for awhile.
Bonds & No-Bells:
Barnes & Noble and Nook have no value together and minimal values apart. Sometimes it's best for shareholders and boards to admit defeat and take what they can get.
http://finance.yahoo.com/blogs/breakout/barnes-noble-shareholders-132045...
So where am I supposed to buy the latest edition, "Rehypothecation for Dummies" by Corzine?
OH YES
And did they mention that interest rates were around 5%, so even a non investor could save their money. Did you hear what I said? THEY COULD SAVE THEIR MONEY.
Now I will cut off you keynesian jerks before you utter what I already know is on the tip of your two forked tongues!
The middle and lower classes are squeezed tighter than Tim Geithners lips around Ben Bernankes cock, so they are not the ones buying all the new German imports at "0%" financing.
"DOW smashes record" - CNBC
at least they're using a violent analogy
The only 'record' they deserve is a Criminal Record.
Fifty-nine percent of Americans responding say the U.S. is in a recession vs. 35% who say it isn't. That includes 61% of independents. But those readings haven't changed much in recent months.
Read More At IBD: Economic Optimism Plunges; 59% Say U.S. In Recession: IBD/TIPP Poll - Investors.com http://news.investors.com/economy/030513-646760-ibd-tipp-economic-optimism-index-dives-in-march.htm#ixzz2MgCPy49M Let's buy some stocks, guys!ZHr's should have bought stocks, not gold. Since 2011 Gold 0%, DOW 40%.
Everyone I know isn't buying PM's for an investment, It's called wealth preservation.
There's an 22 acre parcel adjoining my property, THAT is an investment.
There's an 22 acre parcel adjoining my property, THAT is an investment...
Only if the rule of law is preserved and you can afford the taxes until your death. Neither of which is a guarantee with the current regime, imo.
Otherwise, well, tentmaking used to be a profitable trade, could be again. Gotta do something with all those horsehides.
Exactly, but too narrow minded to admit it in public.
You could have 40% more gold if you had played it properly.
LOL...everyone could have a quintillion dollars if they just "played it properly." People would never have car accidents if they just played it properly. I could have had the prettiest girl...or the fastest car...or the biggest house...if I had just had the foresight to play it properly. Get it, moron? We live on EARTH, not on Planet Play It Properly...
"Coulda, woulda, shoulda." Post-game quarterbacking does NOT count.
Of course the really smart money (TPTB) is/are now selling at the top, then (a) keeping some in cash, (b) preserving some in low-priced PM, and (c) investing some in quality real estate -- preferably with cashflow or cattle. The part in Cash they'll keep for after The Crash, when there's "blood on the streets". That's THE perfect time to buy again, according to the House of Rothschild.
So, Armchair Quarterbacks, did YOU do what I just described? Or are are you "All hat and no cattle"?
Yeah, but now we have gold, and you don't. What don't you get?
hahahahahahahahahahahahahahahahahahahahahahahaha...ha this is a funny market.
Mrs. Meat looked at me last night and said something very insightful. "If we don't get filthy rich we're going to be dirt poor".
She is absolutely right. This is going to end very badly and if we don't capitalize on this wealth transfer we're going to be in some serious hurt.
And what percentage of the population benefits from this jump to the records?
A record low percentage number of people I would imagine and of those that do benefit I would also say they have record wealth transfer effect
And also record high energy costs and food bills for the rest of us.
I can't wait for the revolution
The Stock "Market", apparently the only business that thrives on lack of interest and participation ( Volume )... Nobody is in the restaurant but hey, at least business is great!
Today lays bare in full crystal clear transparent clarity the absurdity of the ZH community where people expect BOTH high/hyper inflation and a falling stock market.
The value of cash/deposits is what is crashing, you need to get your savings out of cash and into any enduring asset that you are comfortable holding; gold, scrap metal, S&P500, crude oil futures, real estate, a bakery, anything anything that is not cash.
People need to accept that the dogma that the market will crash AND there will be an inflationary blow out is pure nonsense. These views are totally at odds with each other.
We have an environment of plummeting monetary velocity and soaring money supply, the result is a climate of stagflation whilst first receivers of the new money acquire all the asset equity in the economy. Once there is nothing left to buy QE will be redirected from Wall St to Main St and monetary velocity will accelerate and the real economy will take off with it. There will be a one time inflationary impact of this ‘kick-start’ but that will simply enrich the owners of the asset equity.
Expect inflation, because this market is not going to go down any time soon, it is being inflated by stripping purchasing power from all USD deposits and redirecting it to the primary dealers. Trade volumes will continue to tail of as the accumulation and centralization of securities become more and more difficult. Only once volume grinds to a standstill will the Fed finally redirect QE to channels that offer greater monetary velocity.
"QE will be redirected from Wall St to Main St and monetary velocity will accelerate and the real economy will take off with it."
When pigs fly.
No it's true.
Everyone will get a free cookie...not a good cookie mind you, with chocolate or fudge - but a free cookie.
But who am I to look a gift horse (meat) cookie in the mouth?
It's not a free cookie, it's somebody elses cookie. It belonged to a saver or any owner of currency or deposits.
Nope.
I just got a text alert alert on my FREE Obama phone - says come get a FREE cookie. Maybe they'll top off my FREE EBT card while I'm down at the cookie give away.
Bingo, that's why the currency will die. Got physical? So many paper promises, no fucking collateral.
Ah, such fond memories - SIT UBU, SIT!
Real economy a.k.a. buying chinese crap in Walmarts?
When Walmart still had ammunition, most of it was still made in the US of A.
What if there is one more deflationary bust before said hyperinflation? We currently have +/- $122T in public and private debt...4 times more debt (as a % of the economy) than right before the great depression. Can Benny and the Inkjets print enough to avoid a collapse?...maybe, maybe not.
While it would be easier to digest your scenario where all events happen in a predictable straight line, that is usually not how things really play out. We're living on a razor's edge right now, and we could end up falling off of either side.
It is obvious to anybody that the unfunded liabilities are unaffordable… So do you believe it is more likely that
1). The unfunded liabilities will destroy the US bond market and precipitate the collapse of the US dollar.
2). The unfunded liabilities will be amended when the bond market demands it and dramatically reduced and reshuffled off the government’s responsibility and back to the responsibility of private citizens.
Your question is un-answerable, because we currently do not have a bond "market." The bond market which you speak of has been tied up, mouth covered with duct tape, and thrown into a trunk of a Lincoln Town Car for the time being.
The real question is...when do we get our bond market back (if ever)?
Look at the Volume number...Dried up like a 70 year old lady's titty...just hanging like a wet sock filled with sand...awful..So basically, the FED print money and buys the market, give money to the TBTF Banks at rediculous rates to just buy the market...these guys are just an embarassment!
Volume -> Stocks are dead, remove the Illegal Investment Banking and the sp500 is at 800.
But, we can't remove it. So, what do we do, Buy? They can just as easily crash it to steal more wealth. He who controls the money controls the kingdom. They have enough to blow up Lehman, push oil and PM's around, and buy/blackmail CONgress. What chance do you and I have? None.
"What chance do you and I have? None."
Go back to Moscow in 1989 and say that...
The only rumor to drop the market is the FED ran out of Ink for the printing press! Who is ready for $8 Gas?
Bernanke says..... Better get in Boys and Girls, how many chances do you get to buy an all time high?
The Wealth Assassin strikes again...
Bond Girl & Bond Yield Bottoms
http://chartistfriendfrompittsburgh.blogspot.com/2013/03/bond-girl-bond-...
The last time the Dow was here....I actually made a decent living. Not so much now days. But on the plus side, I have a lot more time to bitch about things now.
"The last time the Dow was here...."
I was at the semi-annual Sales & Marketing 'Fest' at HQ, some place in Europe famous for quality fast cars. I felt just awful at my US sales projections -- until I saw everyone else's. The projections forecast a severe downturn -- months before it happened.
We were like ducks: Calm on the surface, but paddling like hell underneath. We kept selling the sizzle, but could not deliver the steak. Except for...
My one mega-deal that I resurrected from the dead, and whose commission my weasel-faced, ex-Stasi, cock-sucker boss snagged for himself, by actually firing me after I landed the deal, and just before I got paid. He then got credit for the deal (revisionist history), the 6-figure commission+bonus, and his shit-box Trabant got swapped for an Audi A6. I got praise and "deep regrets" in my references. And, no, he wasn't Jewish. He was a Kraut. Schweinhund! It's every pig-dog for himself, was that lesson -- if you're not In The Club/Clan. Shoulda shagged his hot & willing wife when I had the chance, but professionalism, ethics and her unshaven armpits deterred me. If I had to do it again... "Du bist meine Bitch! and made him watch.
Q: How are the sales forecast for 12 months out? Especially the ones at 60% and 90% confidence level.
All aboard Muppets. This train is heading off to the land of Oz. We’re going to follow Fidelity’s green line. It used to be a yellow brick road, but, that was before they removed all the gold bricks and paved it over with fiat currency. Don’t forget to close your eyes when we get to the scary parts, and hold your breath when we get to the hopium fields.
Lest we forget England, "The Land of Hope & Glory": Empires are built on Hope & Glory. They rise on persistent Hope, and fall on too much Glory. So do stock market fortunes.
The inflection point -- whether a slow or precipitous decline -- is easier to predict than to predict correctly. Even here. Plan and hedge accordingly.
ZH top link on drudge...
Thank you dear leader and his minions at the Fed!
Apparently, TPTB have decided that we are going full-on "Thelma and Louise." I'd say buckle up, but it doesn't really matter anymore.
the recovery is in!! BUY THE DIP guys! BUY IT ALL (LOL). Time to make sure everyone's got their retirement safe by dumping all-in for Treasuries, Greek Debt and HIGH YIELD CREDIT along with CDO-backed lines-of-credit for daily cost of living ease!
"Look at these mawkets! Gog-gog-mahgog-vog!"
"You just have to be in these mawkets! Hum-slurp-spittle-slather!"
"You'd be crazy not to be in equities! Agog-mahgog-ah-gog!"
"Never been higher! (drool-chimp jump-hip thrust. Hooh! Hooh! Bananas)
THESE MARKETS MEAN NOTHING YOU THINK THEY MEAN!
S&P, DOW, NASDAQ = SLAVERY METERS
Higher = more indentured debt servitude slavery
BUY MOAR NOW!
Uncle Warren said equities were still undervalued...SOOOO BUY MOAR!
Come on in my little Muppets, the water's fine. BUY MOAR!
You too can be like Jamie and Lloyd...They are richer than you....SOOOO BUY MOAR!
FBI says sequester cuts will hamper their "Wall St. investigations", BUY MOAR!
They'll never find out, before we all sell out, soooo please BUY MOAR!
The last time the Dow was here....there was no Bitcoin.
Where are all those mopes gonna go when the market starts sucking donkey eggs again?
IS THERE ANYWAY TO SHORT ZH. IVE SAID IT FOR MONTHS....YOU CANT FIGHT THE TAPE...
"you have all of these negative factors that are out there but the market is telling us a diffrent story" - Paul Tudor Jones
I believe there is a quintuple-triple-inverse ETF that trades on the pinks. Should be just your speed.
Tick: FUZH.
:D
AMZN bro.... load up today.
You're shorting ZH with all that whitespace dumbshit.
"IVE SAID IT FOR MONTHS....YOU CANT FIGHT THE TAPE..."
You can put the tape in a gas chamber, though...
I can't believe people are still watching TV and playing in this market, mostly runaway algo's left...
The games been over for a while now.
Cash out, hold physical, trade that worthless paper in for something real while you can.
STFB
Short this fkin bubble