Tyler Durden's picture

Luckily nobody in the New Abnormal cares about actual cash flow. Because if they did they would be carefully looking at the YoY line to see if it posted the first dip since Lehman.

We have taken some creative liberties with the title. Technically it is SPX Index GP <go> then change Last Price in the drop down to EBITDA.

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Obchelli's picture



Since Lehman Chairsatan learned a lot - now he knows everything can be fixed with printing MOAR


Or just simple Jawboning will do as yesterday - do not need to do anything just fart out of his mouth

Cult_of_Reason's picture

This video provides a warning of impending stock market crash beginning in mid 2013.


johngerard's picture

The longed-for Zerohedge mega crash isn't going to happen.

The Fed is not going to stop printing. Repeat - it is not going to stop. Trillions more is going to go into QE. You can cite every piece of technical analysis under the sun - it doesn't mean shit when the Fed is printing, which is set to continue FOR YEARS TO COME.

And they can buy stocks, property, commodities - anything they want. There is nothing the Fed cannot buy.

Sure, we'll have pull backs. So what? 7% down? Who gives a flying fuck? The Fed will occasionally like to appear to be regaining some sort of 'credibility', for want of a better word, like two weeks ago. 'Taper' this, 'foot off the accelerator' that. It's all white noise. It's BTFD all the way. Dow 30,000 is coming.

Many people writing on here are emotionally wedded to a mega crash and are losing money week after week with the fondest hope the fantasy will come true. In the real world, it would. But we're not living in the real world any more. All that matters is whether or not the Fed continues printing. All the other bullshit that sends the markets up and down is just BTFD window dressing for the plebs. If you bought stocks in March '09 and walked away, you are offically the smartest c*nt on the planet.

You need to punch yourselves in the face and wake up. Are you trading to make money, or trading to try and prove some moral/intellectual point? Because if it's the latter, you're fucked. Bernanke/Wall Street have an ice pick in your balls, and they're not taking it out.

Rainman's picture

....bbut stawks are at all time highs .... and this smells like another turd hitting the punchbowl

Cursive's picture

Why does this chart show that EBITDA peak was in 2008?  Surely it's higher now, right?  Surely, this "recovery" has us in a better place than 2008.  The SPX says so.

NoDebt's picture

Yeah, really.  Because if that was true, then the E in the P/E ratio would, in reality, be smaller than what is reported.  Which would mean that the real P/E being paid for stocks is much higher than the ~17:1 that is oft-quoted in the MSM.

And we all know that can't be happening.

fonzannoon's picture

It does not matter. We have gone full retard.

Doc Engali's belly button lint has been designated Tier 3 collateral.

Cursive's picture


And, what, the toe jam is just chopped liver?

ebworthen's picture

CALPERS is buying that with the shares of AAPL sold at $410/ bought at $610.

Bear's picture

We have reached 777 stall speed ... watch for rocks below

HaroldWang's picture

And when we crash land, everyone will blame each other contrary to all the video evidence to the contrary. Life imitates whatever it is the Fed is doing and vice versa

fxjunkie's picture

Chart would be alout better if it included the evolution of SPX last price for the same time period. 

buzzsaw99's picture

today's ramp probably cost about three fiddy

BurningBetty's picture

forget it...this has nothing to do with fundamentals. There is no bull or bear market anymore. The only thing left is central planning.

chump666's picture

It's quite amusing actually, China is jawboning and bluntly taking down it's own markets.  Opposite to the Bernanke and the Fed policies.  So they should be very nervous, said it before, but China could take the Fed apart, cause a massive backlash against Bernanke and the Fed.  it's an easy play, mess with the yield curve, cause the interest payments on USTs to drop.  Freak out Obama.  All volatility, bonds and Asian indexes, started in June when Japan got a beat down. 

I'm just watching China, their GDP print comes out soon, i think Monday.  For the first time in their commie history they may release a bad print.


chump666's picture


*Lou Jiwei China Fin/minister downgraded China's growth target from 7.5% in 2013 to 7.


omi's picture

EBITDA is an irrelevant measure.