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Venezuela Is The "New Killing It", And It Doesn't Even Print
Yesterday we showed that the best performing "developed" markets year to date, and ostensibly the only ones which are positive so far in 2013 (half of which is already in the history books), are those of the US and Japan. We will leave it up to readers to uncover the common thread between the only two outperforming stock markets in the world.
However, as the following chart from Perpe showing June performance, who needs money printing when one can generate gobs of "wealth effect" simply by centrally-planning the destruction of their economy, crushing the currency, and living constantly on the edge of a banana republic military coup.
Presenting Venezuela: + 40.7% in June and +144% YTD... the occasional toilet paper shortage notwithstanding.
Truly the shape of "wealth effects" to come.
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+5
Historically/logically/etc speaking., the percentage difference between monthly change and YTD should not be a swing large enough to birth a spaceship, unlesss the market is decoupled from reality. Numbers don't make sense no mo.
They can't kid me.
That's the great rotation out of Zimbabwean shares into Venezuelan.
Gots nothing to do with bonds or money markets.
Take that Buttaroma & Co.
I keep this shit up and pretty soon I'll have a big time Charley job on CNBS!
Chavez vive carajo!
first of all, we dispute those numbers for inflation.
perhaps you misplaced the decimal.
our figures show something like 4 percent. not 40.
second, even this modest figure results from external parties bidding up domestic prices.
we see that as a positive sign that the world is 'buying the venezuelan proposition'
any moneyprinting we may happen to perform has zero effect on our price inflation
zero
hugs,
the bcv
'Truly the shape of "wealth effects" to come.'
Phallic.
Chavez was dead long before cancer made him order out the words...Dont let me die....LOL
You have to blow Uncle Warren to get thru' that interview
process at cnbc.
Anyway ,you will get more viewers at a baseball game.
Venezuela is an economy in the process of destruction. Inflation is 6% ... per month!. The industry is practically paralyzed. The markets are fully des supplied. The private investment is very close to Zero!. The only thing that kept alive the economy is oil and fuel prices that remain high. As soon as fuel prices drop a bit, the economy, unfortunately went into collapse.
Well yeah, with the Venezuelean govt overpaying and nationalizing everything who wouldn't expect the bankers and politicians to make a killing. No middle class Venezuelean owns stocks.
I used to be a bit of a fan of Chavez, until I met one of Chavez' escapees.
The cream in that country can't get out(or their money out) fast enough.
And go where? Sooner or later this situation will arise in every Western country as well. Except for the US. We are past the Banana stage.
And go where?
Go to America.....every legal US worker is about to have a $5000 bounty put on their heads.....you're sure to get a job if you're an illegal.
There is a good side to that. It will end the communist supporting unions.
Shhhhh!
We're kinda hoping those guys don't figure that out just yet.....at the proper time we'll have them go on strike.....just like those Twinkies workers. They showed those guys who was boss!
As a society we've had incredible productivity gains, but no real gains in workers wages for decades. Combine this with the constant corporate/government thrust to thwart small operators from entering the markets (tried opening a lemonade stand lately?).
I'm thinking as a society we need an equity model where workers meaningfully participate in the profits/losses of whatever firms they work for.
The current model is what we commonly call the banana model, and only those at the top seem to prefer this one.
Measuring the productivity of the most wasteful society ever is rather silly.
No argument on "wasteful society", but the lack of sharing (theft) of the goodies is not stable nor sustainable IMHO.
Yea well that's the big question.
Either your stuck in Nationalist Socialist L/A, or your stuck in Nationalist Socialist everywhere else.
WTF
In Florida, thousands of houses and apartments have been purchased by Venezuelans. In order to protect your money from the government, Venezuelans are trying to bring their assets outside their country. Florida is very near Caracas and they are very used to this area of ??U.S..
Their stock market is being driven higher by inflation!
Venezuela inflation soars to record monthly high 6.1 pcthttp://www.reuters.com/article/2013/06/06/venezuela-economy-idUSL1N0EI1H...
Coming soon to a fiat economy near you!
and 35.2% ydtd
Hugo fell victim to the Lord Acton thingy of having too much power.
That's a wonderfully insightful intelligent description, the kind I usually take pride in and enjoy reading from others.
Up till now I'd just put Hugo in the batshitfuckingcrazy basket next to the kitty litter and stuck together porn pages pile. But what do I know?
he's dead. move along.
Not much I'd say. What the fuck happened to fightclub.
Hugo fell victim to Karma and a just God.
The fire rises,
But higher prices are always good, even when not backed by fundamentals, even if they are just mirage prices at which investors can't actually sell, no? I mean it's not like suddenly conjured 'wealth' can just as suddenly evaporate.
Someone made a deal to turn their chunk of the Amazon into soy and coca fields?
Damn, I missed out on those.
Can't wait for similar opportunities in the US and Europe.
OT: about that fat ass FBI mole from WikiLeaks
http://www.wired.com/threatlevel/2013/06/wikileaks-mole/all/
(Geniuses who claimed that WikiLeaks is a CIA outfit, please explain how this fits in. Or better don't because I'm sick and tired of your bullshit).
The FBI and the CIA have always spied on each other.
Quite right, FBI and CIA are semi-hostile rivals, for a long time ... this is all very complex and ambiguous
And it seems right now there is lots of infighting at the upper levels of US regime ... CIA (having budgets reduced) vs NSA (having budgets increased) ... lots of upper level military officers, generals etc being removed (Benghazi) ...
Also re Wikileaks, lots of tough stuff to explain ...
Why is Assange so pro-Israel, okaying his leaks with Israel's government, and so insulting to '9-11 truthers' ?
Why did most of the Wikileaks info dump serve US interests, humiliating other countries, but laying off of US-Israel ?
Hell, Trilateral Commission Zbigniew Brzezinski admitted Wikileaks was a CIA op ... and
Plus it is possible that Assange was earlier CIA but things went sour when Assange went rogue ... so Guardian and NYT, his big fans, did a 180 degree and suddenly start bashing him
---
Now, Al Jazeera reports Edward Snowden is negotiating to go back to the USA !
According to Snowden's father Lonnie, there is an offer to Obama's gangster Eric Holder, that Snowden will go back to be on trial if he stays out of prison before the trial and does not have his freedom of speech banned during that period.
Father also claims son Snowden is being 'manipulated by Wikileaks'.
Sickening, either way ... whether Snowden really was a CIA 'limited hang out' shill from the beginning ... or is just a total idiot
http://www.aljazeera.com/news/americas/2013/06/201362820448338306.html
---
So Edward Snowden and his friend, the very pro-Israel Julian Assange (who despises 9-11 'truthers') ... they are 'dissidents' who want refuge in Ecuador ...
Where Ecuador's President Rafael Correa ... tried to imprison and bankrupt a newspaper publisher who criticised him ... who was forced to take refuge with Panama, ha !
And where CIA whistleblower Philip Agee says the Ecuadorean police are in the pay of the CIA ... and they tried a coup d'état against Correa in 2010 ... after a successful coup in 2000 in Ecuador ...
This CIA-police country, is the 'refuge' choice, and not a more secure place like Russia ?
And Snowden is interviewed and promoted by Mika Brzezinski, daughter of Zbigniew Brzezinski of the Trilateral Commission - Bilderbergs, architect of US wars in Asia 'Great Game - Grand Chessboard', advisor to US Presidents for 40 years including Obama ?
Putin seems to have figured this out, perhaps why Snowden has been 'delayed' in Moscow
http://www.veteranstoday.com/2013/06/27/snowden-syria-and-the-soviets/
Oh fucking hell. Just when I think someone must be genuine, you go and spoil the illusion. I can't see how anyone can be pro-Israel and be human, so your post has merit, but I've been harbouring the suspicion that associating whistleblowers with the CIA's penchant for double agents is the normal smear and discredit dance the government does to those who embarass them. Whistleblowers are easier to pick off if nobody wants to know them.
Anyway, just WTF happened to the Whistleblower Protection Act of 1989? Anyone in government even threatening retalitory action against a whistleblower is breaking the law. Not that these criminals ever care about the law, but you'd think some of these fuckers would think twice about threatening the death penalty for those who have recently blown the whistle on the USSA.
Thanks for the info. I'll keep that in mind, but I am hesitent to colour all whistleblowers as double agents out to cause mischief for those playing a bigger game. There must be at least one decent person of conscience in government surely? Or is that too much to ask?
Why would anyone want to piss off the Israelis? I think many all were versed in what they are can do. So Assange lays off....smart.
And who trusts what bankers say anyway?
Ask BlackBerry....next?
To the moon!
And up over 2500% since 2007. Of course that is what the Fed will eventually attempt here soooooooo.......
what is the performance of gold during that time compared to stocks in venezuelian currency?
how 'bout oil. "oh, look! more money than ever!" ooops. sounds familiar though.
NDLS IPO +100%......
Its the profits returned to the people from not having to pay patent and copyright.
viva la revolucion
while citgo brings a lot of dollars back to chavezland the country is flooded with yuan,same thing different name, that is underpinning the inflation. there will be a lot of incredibly beautiful chinese-venezuelan swimsuit models in 20 years just in time for my dirty old man golden years.
Hmm. Maybe they'll be the first who are forced to revalue the currency and peg to gold which Chavez repatriated.
I don't trust Obama's numbers .... am I supposed to believe this shit .... from the union of socialist bag boy economists ?
South Americans work hard and play hard, thats why their economy is pretty good... they have a healthy labor force and industry, because theres no such thing as a successful economy built completely on useless service industry jobs.
zhers are too stupid to understand so let me explain; the continued experience of a banana republics is repeated currency devaluation which favors the plutocracy who steal money from the govenment or the government itself; this screws the loser who tries to save his earnings; it is very sad for this old man but america is now a banana republic; but this plan in the end always always fails the usa would be better off if ben had studied peron & not depression bottom line zhers sell your gold
Who the fuck are you, turd boy? Try getting a command of the fucking languange, specifically basic fucking punctuation; your remedial lingual skills fucking SUCK. That being said, you had almost a semblance of a fucking point until you suggested that our dipshit ChairSatan Bernanke study your favorite fascist cocksucker Peron. DON'T GIVE THE PIG ANY MORE IDEAS, YOU STUPID ASSHOLE!!!
Regarding your pathetic, mangina-addled wishful thinking about us ZeroHedgers selling our gold, we'll be doing that right about when you get an original thought in your head that DOESN'T involve tin-horn assmuncn dictators or Keynesian shitfucks...
Bill Black on Ecuador's success and Obama's favoring wealthy corporate donors over economic growth, depending on the same lies propagated by the Heritage Foundation, concludes:
A personal plea to President Obama and Secretary of State Kerry
"When you find you are taking your policies against Ecuador from Heritage’s playbook it should alert you of the need to stop, rethink, and reboot. President Correa was reelected by a huge margin on the basis of popular support for policies that he – and you – made the heart of your electoral platforms. President Correa has been able to put those policies in place to a far greater degree than you have Mr. President – and the results have been a spectacular success. You can disagree about some foreign policies while still being strong supporters of President Correa’s education, health, and infrastructure policies and the Ecuadorean peoples’ support for those policies, their President, and Ecuadorean sovereignty."
read the rest here:
http://www.ritholtz.com/blog/2013/06/bill-black-the-heritage-foundation-...