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Mark Spitznagel Warns Today's "Distorted" Market Is "Set Up For A Major Crash"

Tyler Durden's picture


Despite Ron Insana's insta-dismissal of all things "Austrian", and Maria Bartiromo's scoffing at his comments, Mark Spitznagel (who most recently discussed the problems we face here, here and here) ventured on to the unreality channel this afternoon and much eyebrow-raising ensued. Spitznagel, author of The Dao of Capital , explained why he believes "the market is setup for a major crash," and expects a 40% decline in stocks. The current market "entirely artificial" environment driven by zero-interest-rates and central bank asset purchases, along with valuations and sentiment, has distorted the 'markets' in the same way as "in all other major tops in history." His investing advice is simple, "step aside!" But doesn't expect many to heed his proven advice, because, "it is the hardest thing to do right now, "and makes you look like a fool."

"this notion of a 'catalyst' for the decline is false"...

If you prefer your business media with a sense of reality - the following 210 seconds is must watch!



As Spitznagel noted previously,



Our fear of corrective crashes is misplaced. They are necessary purges to clear the financial system of unhealthy mal-investment and to allow the redistribution of resources to stronger industries. I would argue that had the government followed this path in 1929, there would have been a garden-variety recession — not a Depression.


Unfortunately, we have labored under faulty assumptions and failed logic, particularly since 2008-2009. This is the legacy that Bernanke leaves not only to his successor, but to all of us.


What we must learn from history is that the government should stop suppressing the natural, homeostatic functions of the market. Otherwise, the "cure" will prove deadlier than the disease.


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Wed, 10/23/2013 - 21:39 | Link to Comment LetThemEatRand
LetThemEatRand's picture

Is she actually taking a shit while he's talking?

Wed, 10/23/2013 - 21:42 | Link to Comment prains
prains's picture

WOW, really impressed he didn't grab her clip board and fucking beat her to a pulp with it


i would have pushed it thru the bridge of her nose til it came out the other side

Wed, 10/23/2013 - 21:45 | Link to Comment Zer0head
Zer0head's picture

Marty, is that you?

RIP Marty and Mark (Marty) you are spot on,

Wed, 10/23/2013 - 22:01 | Link to Comment King_of_simpletons
King_of_simpletons's picture

A token correction will happen when dow hits 36K. It will be engineered though not a natural one -- just to make things look cool and "normal", not for main street, but for the WallstreetWashingtonDCMediaFederalReserve complex.

Wed, 10/23/2013 - 22:38 | Link to Comment markmotive
markmotive's picture

The Fed has painted itself into a corner. It has to keep printing money until the entire thing implodes.

Chris Martenson on the Fed's deep hole:

Thu, 10/24/2013 - 03:40 | Link to Comment new game
new game's picture

hey , (dah) are you smarter than a fukin 5th grader...

wow, can't believe my eyes anymore-reading/listening

to the most obvious, but most will not heed.

humans are truely stupid animals. head shot at watering hole....

Thu, 10/24/2013 - 07:13 | Link to Comment lickspitler
lickspitler's picture

we know we fucking know shiff rogers farber bass yar da yar dah fuckin ya, shut the fuck unless u got some time line input.



Thu, 10/24/2013 - 07:59 | Link to Comment jbvtme
jbvtme's picture

"keep your powder dry" he says. then the camera focuses on fifty pounds of makeup known as Maria...

Thu, 10/24/2013 - 08:21 | Link to Comment GetZeeGold
GetZeeGold's picture



Funny Maria didn't mention owning gold. I'm sure it just skipped her mind.

Wed, 10/23/2013 - 21:46 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

It's hard to believe that Maria was actually hot at one time, but that was during another century.

Wed, 10/23/2013 - 22:00 | Link to Comment WTFUD
WTFUD's picture

Yeah, like when she was burning at the stake!

Wed, 10/23/2013 - 23:12 | Link to Comment DeadFred
DeadFred's picture

Reptilian host bodies are subjected to extreme chemical imbalances.

Thu, 10/24/2013 - 01:01 | Link to Comment Otrader
Otrader's picture

I hope she'll become Flavor Flav's wife one day.   That would be just as unbelievable as Bridgette Nielsen with Flavor Flav. 



Thu, 10/24/2013 - 06:45 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Would it?  I bet Maria would fancy a snorgle with Flav if he arrived to the Ball kickin' a gold iPhone, dangling from his neck bling suggestively.  It would be irresistably dirty for her.

Thu, 10/24/2013 - 02:36 | Link to Comment Freddie
Freddie's picture

Check out her face at 12 seconds afetr he said we are set up for a major crash.  She looks like she is going to throw up.  God is she bloated too. 

Thu, 10/24/2013 - 06:24 | Link to Comment whirlybird rules
whirlybird rules's picture

Bartiromo is not a genius, but give her a break!  She looks like she had a monster cold.  xD

Wed, 10/23/2013 - 21:40 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

Mark is amazing...He's figured out the market is overpriced.

He should get a Nobel prize. Next he is going to figure out it is rigged too.

What insight!

Wed, 10/23/2013 - 21:44 | Link to Comment fonzannoon
fonzannoon's picture

the guy wins 9 olympic gold medals and throws "nagel" on there to seem geeky and all the sudden we have to get investment advice from him?

Wed, 10/23/2013 - 21:50 | Link to Comment NoDebt
NoDebt's picture

Lenny Dykstra with a few extra IQ points?

Thu, 10/24/2013 - 03:16 | Link to Comment dreadnaught
dreadnaught's picture

wha???    youre thinking Mark Spitz

Wed, 10/23/2013 - 21:40 | Link to Comment Hedgetard55
Hedgetard55's picture

Who is the skanky ho asking the questions there? God she looks nasty.

Wed, 10/23/2013 - 21:42 | Link to Comment Blazed
Blazed's picture

No crashy until we get the taper on the toilet paper. Cuz....Wi Tu Lo.

Wed, 10/23/2013 - 21:45 | Link to Comment bubblemania
bubblemania's picture

It sure looked that way, she probably had too much salad at Chopt for lunch.

Wed, 10/23/2013 - 21:48 | Link to Comment Ham-bone
Ham-bone's picture

I'm neither "mom and pop" or an institutional investor...hell, I'm not invested in this at all...I stepped aside as of '11.  Still, I don't see the "catalyst" that makes Ben step aside and allow true market pricing to take over.  The worse things get, the worse they'll make things with their facade of a monetary cure.

Thu, 10/24/2013 - 04:28 | Link to Comment RebelDevil
RebelDevil's picture

"Stepping aside" is always the safe way to play, but to short this "market" with the right timing is fucking GOLDEN right now.

Thu, 10/24/2013 - 05:41 | Link to Comment asteroids
asteroids's picture

There is another more important reason to step aside. Once you are "in" the market, long or short, the boyz with their supercomputers will figure a way of "shaking" weak hands out as quickly as possible to make their quarterly nut. They punish the bears on a daily basis. After 5 years of zero money I suspect they have HUGE piles of cash to fund this type of operation.

Wed, 10/23/2013 - 21:49 | Link to Comment g'kar
g'kar's picture

Waiting...waiting....waiting.......foot tapping.....charts are saying....waiting....foot tapping.....


No one really will believe this crap until it happens. One day.

Wed, 10/23/2013 - 21:52 | Link to Comment NoDebt
NoDebt's picture

And after it happens you know what they'll do?  Print up another one.

Wed, 10/23/2013 - 21:55 | Link to Comment g'kar
g'kar's picture


Thu, 10/24/2013 - 04:57 | Link to Comment Amagnonx
Amagnonx's picture

Out of a number of places to park cash at the moment, gold and silver have been a tragi-comedy, but Bitcoin has really paid off.


I watched a clip of John McAfee saying that BTC can't be stopped, now the guy sure does a lot of drugs, and maybe has been out of the tech scene for a while - but he is looking to come back into tech making some IP address scrambling devices and other privacy protection hardware - at the moment, I can't see a bigger opportunity than selling privacy.  So he is not an idiot.


BTC may or may not deliver on its long term promises, but for right now its a pretty good gamble - compared to the other potential gambles you could be making.


Long term, I still think silver is the ultimate investment, and I have plenty - but BTC has paid me out extremely well.

Wed, 10/23/2013 - 21:49 | Link to Comment NoDebt
NoDebt's picture

I'm not bolting till be get the parabolic blow-off top up to DOW 20,000 (I already have the commemorative hats printed up).  

I ask one simple question:  If all risk has been removed from the system by central banks, what P/E is too high for stocks?


Wed, 10/23/2013 - 21:58 | Link to Comment prains
prains's picture

when they run out of P

Wed, 10/23/2013 - 23:16 | Link to Comment DeadFred
DeadFred's picture

Somewhat lower than it is now.

Thu, 10/24/2013 - 03:45 | Link to Comment new game
new game's picture

pe is a fools errand. it is fear and greed that runs da show.

right now the majority are at the punch bowl thinking they are pretty crafty.

luv it, the fuks will be quiet as hell soon. no "da shit" talk from da shit head...

Wed, 10/23/2013 - 21:51 | Link to Comment disabledvet
disabledvet's picture

so the "cash out refi's" have already been so staggering (Carl Icon clearing 440 million in 13 months? and that's only HALF his position????!!!) I think 40 percent would qualify as "mere sell off" at this point. in other words "probably healthy actually." I would agree anything in the 70% range might be "a baddie" however. I've got a whole list of stuff worth buying right now actually...and if this really is rigged all I have to say is "God bless 'merica!" They tried this during the Great Depression, epic fail. After Japan? Epic Fail. Europe now? Epic Fail. I have no clue why this version is working...although I do agree it makes me hungry for some Freedom Fries though. How about we start with the right to practice our faith free from "interventions."

Wed, 10/23/2013 - 21:53 | Link to Comment Cabreado
Cabreado's picture

Apparently he's been having trouble sleeping at night.

Wed, 10/23/2013 - 22:24 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Maria looks like she was up all night drinking and doing blow.

Wed, 10/23/2013 - 21:58 | Link to Comment Stonedog
Stonedog's picture

Only a 40% crash?  He is what I like to call an optimist.

Wed, 10/23/2013 - 22:05 | Link to Comment ebworthen
ebworthen's picture

Watched this today on CNBC, Maria's lips kind of flushed and she had to stymy a reaction.

He's right, but just don't let those folks with IRA's and 401K's hear it and go to cash.

Wall Street needs to crash the Ponzi all over again and clear more chips off the table.

Maria's lips were looking rather ready for some action though.

Wed, 10/23/2013 - 22:07 | Link to Comment fonzannoon
fonzannoon's picture

what happens after a 40% crash? The sheep go back to dollar cost averaging into their growth fund? I don't think so. lawsuits up tha anus against anyone and everyone managing money, especially retirement plans? Absolutely. Followed by Obamamarket? Definitely. 40% drop is the end of whatever this sham of a market is.

Wed, 10/23/2013 - 22:20 | Link to Comment Ham-bone
Ham-bone's picture

Fonz - there is no 40% market correction coming...the unwinding leverage would be catastrophic.

Fedz key to money - is there Fed desired inflation? commodities going anywhere but churning since '11. 

Is the jobz market getting any better?  nooo...participation rate is laughable and quantity of jobz isn't keeping up w/ birth rate, quality of jobz is weak tit. 

No end to taper - in fact, taper off but instead QE up, up, and away.

Wed, 10/23/2013 - 22:28 | Link to Comment fonzannoon
fonzannoon's picture

I agree about no taper, and up and up...but I just see skynet. I see positive gains every year. where do you see the breakdown coming from?

Wed, 10/23/2013 - 22:35 | Link to Comment Ham-bone
Ham-bone's picture

Fonz - what average American will piss and moan about a stock market that makes new highs everyday...simply another example of our exceptionalism.  The only breakdown will be that this process will serve fewer and fewer leaving more and more lower middle folks (formely blue collar) to be wards of the state.

Wed, 10/23/2013 - 22:40 | Link to Comment fonzannoon
fonzannoon's picture

yeah man. I totally agree, I just don't see why the market has to have a big selloff. But the big picture (moar qe, less middle class) you describe makes total sense.

Wed, 10/23/2013 - 23:29 | Link to Comment Ham-bone
Ham-bone's picture

As best I can tell, market as an independent entity ceased to exist in March '09 and May '10 flash crash was proof the Fed or PPT or whatever well and truly was the market.  August / Sept '11 gold (and other commodities) got disorderly to the upside while equities were getting dumped...liquidity was going to the "wrong" places.  That was unacceptable and has been entirely reversed absent "natural" reason.

Now???  Watching the market is silly.  Simply like watching the daily morphine application via POMO and up we go.

How it breaks down or falls apart...seems only via political upheaval and we don't seem near a political breaking point...thus, on we go.

The other option is international game changes everything overnight...any night.

Wed, 10/23/2013 - 23:31 | Link to Comment Bay of Pigs
Bay of Pigs's picture

+1 Ham-Bone,

Nobody ever talks about the dumping of FASB 157 anymore, and the following "marked to unicorn" fantasy that exists today. The gold and silver paper induced slaughter the last two years is well documented but less understood, even by some here at ZH.

Like you, I have no idea what breaks this Twilight Zone mentality and refusal to accept the reality of the situation we are now in. The stock market is a useless gauge to anything going on in the economy these days.

We've never seen anything like this going on before.

Thu, 10/24/2013 - 01:22 | Link to Comment Ham-bone
Ham-bone's picture

FASB 157 - adjustable rate mortgage reset armageddon - dollar collapse - bond vigilantes - gold $1900

All things of yesteryear that "should have been" but never came to be...$7 T in debt added in 5yrs and rates halved, PM's halved'ish, equities doubled.  Whoodathunkit.

Funny thing is, back in '08 - '11 there were so many black swans on the, everything depends on the Fed...everything.  The power of a king...the power of an emperor...almost like Nathan Rothschild was onto something.

Thu, 10/24/2013 - 07:48 | Link to Comment tarsubil
tarsubil's picture

I might not remember this perfectly but I think this is the gist of it. There once was a king who was told he was very powerful by his court. He brought his court out to the beach and ordered the tide not to come in. It came in.

The tide will come in. The plans of those at the top will be laughed at as one laughs at dreams in the morning.

Wed, 10/23/2013 - 22:49 | Link to Comment BringOnTheAsteroid
BringOnTheAsteroid's picture

It's simply unknowable but there are plenty of contenders. How careful do you think BB has to be when he strays outside. Another terrorist attack on US soil, a war erupting, Tokyo needing evacuation from Fukushima disaster, some fat finger deciding enough is enough and bailing setting in motion the first snow flake in the avalanche.

Thu, 10/24/2013 - 00:02 | Link to Comment Dr Benway
Dr Benway's picture

I think it will be simpler than that. The manipulated market levels can only be sustained as long as people don't cash in.

As people retire they will look try to sell their stawks and cash all their great gains. They need someone to sell to.

For a while you can lure or force new suckers in to the "market", or alternatively borrow the money, but outflows will eventually exceed what inflows can be mustered, as with any ponzi, and the whole thing collapses.

Thu, 10/24/2013 - 00:32 | Link to Comment The_Prisoner
The_Prisoner's picture

Already happening in OZ. That's why the government is increasing superannuation to 12%.

Thu, 10/24/2013 - 01:25 | Link to Comment Dr Benway
Dr Benway's picture

Yeah exactly! And then when the next cohort of old cronies need to cash out, they will increase it to 15%.

Also, the RBA still has several cuts to go as it lowers rates to 0%, which has the same effect, with increasing debt temporarily propping up the market long enough for cronies to cash out.

But don't worry, Glenn Stevens the million dollar man is doing it all for our sake, and he looks so serious and trustworthy with his bald head and furrowed brow, not a despicable criminal at all.

Wed, 10/23/2013 - 23:11 | Link to Comment QQQBall
QQQBall's picture

+1. leverage. IF this market starts to unwind fairly quickly, it will start to self perpetuate to the dowmside. After a 40% to 50% drop to someone 76% to 100% leveraed its ovah... There is no dough to bottom pick stocks.  The fear again is missing out - BTFD is the conditioned response. Badd juu juu... one small poinjt - cash is earning less than zero, which makes standing aside even harder after 5 years of negative returns (in cash). 

Thu, 10/24/2013 - 04:45 | Link to Comment RebelDevil
RebelDevil's picture

I gotta say, these times are the hardest for investing. You're pretty much fucked in any traditional market. A smart investor sees: A Stock market ready to crash, a bond market crashing in slow motion, a manipulated and surpressed PM market, a fairly stable FX market, cash quickly losing value against standard goods and services, ect, ect.

Well there is one exception here, and that's bitcoin. For 2013, there's a nice, generous uptrend with good momentum for the entire year. For the most part, it'll be relatively stable, drifting up slightly over time, then it'll have a huge rally, correct to a price higher the rally's start, and have another cycle again.

Thu, 10/24/2013 - 02:44 | Link to Comment Freddie
Freddie's picture

Exactly Fonz.  Talked to some family office types about alternative assets but they don't want to know.  They are all masters of the universe especially if they have over $400m AUM. Dorks.  When this cracks - the securities plaintiffs attroneys are going to have a field day.

My guess closer to 50%.

Wed, 10/23/2013 - 22:15 | Link to Comment Wilcox1
Wilcox1's picture

What was the government action in 1929 that he refers to?

Wed, 10/23/2013 - 22:47 | Link to Comment WTFUD
WTFUD's picture

Spot on! Government inaction. With Benji Strong kicking the bucket at 55, his replacement, whatshisname?, former deputy and protege at the fed reserve, Yale boy, skull and bones, only 42, considered raising rates to stunt speculation, however, feared this might play havoc with the UK economy's recent return to the gold standard. The government mostly in agreement of raising rates buckled to wall streets wishes and went with the flow.

Wed, 10/23/2013 - 22:20 | Link to Comment WTFUD
WTFUD's picture

Maria B reminds me of a middle aged hooker who latched onto me as a teenager in a nightclub. Back at her place after 3 or 4 strokes and snoring like a baby, we woke up in the morning.
She pulled out a shammy ( chamois ) doused it in luke warm water, rubbed her armpits and cunt and was off out the door.

Wed, 10/23/2013 - 22:23 | Link to Comment Ham-bone
Ham-bone's picture

uhhh...maybe TMI ???

Why don't you just say she is a psycophant or something and leave it there?

Thu, 10/24/2013 - 02:59 | Link to Comment Freddie
Freddie's picture

LOL!  I thought I was going to throw up when I read it. The imagery was just a little too vile. I felt like puking just like how Maria feels at 12 seconds in when Spitznagel said the (financial) world is gonna end. 

A minute later I laughed because nothing in the world suprises me anymore.  The world is so crude and uncivilized.

Thu, 10/24/2013 - 06:31 | Link to Comment 29.5 hours
29.5 hours's picture


"The world is so crude and uncivilized."

I read in some serious sociological/political treatise something similar. The paper referred to a progressive pornografication of modern social relations.

Sounds similar.

Thu, 10/24/2013 - 00:16 | Link to Comment Lotus
Lotus's picture

"She pulled out a shammy ( chamois ) doused it in luke warm water, rubbed her armpits and cunt "


In that order ?

Thu, 10/24/2013 - 01:25 | Link to Comment Atomizer
Atomizer's picture

WTFUD. Earlier this evening, was in a public setting. Was getting stares over my uncontrollable laughter. Thank you. Really needed a healthy laugh. Priceless.

Thu, 10/24/2013 - 02:10 | Link to Comment SilverIsKing
SilverIsKing's picture

The hooker left you in her place?

Wed, 10/23/2013 - 22:23 | Link to Comment Captain Willard
Captain Willard's picture

CNBC tolerates no dissent - it's full-bore televised Keynesianisn and Federal Reserve central planning. Of course, their ratings suck now, as Tyler has pointed out here many times. They are merely talking their book at CNBC and any Bear is going to be ridiculed. If the Dow crashes, they will have no viewers at the bottom. Maria can be forgiven because she is not too bright and is just smart enough to know that she's too old and pudgy to get another job.

Anyone who questions the Fed or Keynesianism, whether it be Ron Paul or Ted Cruz, is immediately insulted by the Fed butt-boy, Steve Liesman, who must have been named by Charles Dickens as his name certainly fits so well. He is the most odious reporter on financial TV - a wholly-owned slave of the Federal Reserve. 

Cramer also has imbibed the central planning kool-aid - he went apoplectic on air  during the faux "shutdown". On stocks, he is just a momentum weather vane now - if you want to know his opinion, just look at a stock chart. He was in a position to teach a lot of people how the system really works, but he betrayed the public for money and fame.

There is also nothing funnier than an asshat like Ron Insana, a proven loser as an investor and a failed journalist to boot, dismissing a guy like Spitznagel who has successfully run a big fund and made huge $$ calling the last crash. Insana's self importance would be pitaiable if he weren't so loathsome. Ron Insana would piss his pants if he had to manage a portfolio though a crisis and lacks the credentials to judge a county fair baking contest, let alone a real investment pro like Mark.

CNBC's policy is to treat Faber, Ron Paul, Spitznagel and their ilk as crazy Uncles upsetting Thanksgiving dinner. The Uncles mays be a little crazy, may not always be articulate, may stray into hyperbole every so often, but that doesn't detract from their essential insight. The correct message is often borne by strange messengers. 



Thu, 10/24/2013 - 00:39 | Link to Comment prains
prains's picture



You are the Stubing of my ship, thanks

Thu, 10/24/2013 - 02:12 | Link to Comment SilverIsKing
SilverIsKing's picture

What these guests need to do when being put down by the CNBS shills is begin to quote ratings numbers and ask them why their network is losing viewers in droves.

Then they should just get up and walk off set while the cameras are rolling.

Wed, 10/23/2013 - 22:25 | Link to Comment BullyBearish
BullyBearish's picture

Catalyst...two words: BOND MARKET

Wed, 10/23/2013 - 22:53 | Link to Comment nakki
nakki's picture


Wed, 10/23/2013 - 22:26 | Link to Comment Bryan
Bryan's picture


Wed, 10/23/2013 - 22:53 | Link to Comment dogmete
dogmete's picture

But doesn't hide the fact that she really needs detox-a-rama

Wed, 10/23/2013 - 22:52 | Link to Comment random shots
random shots's picture

More chicken shit from ZH. This guy has been selling the same story since 2009

Wed, 10/23/2013 - 22:53 | Link to Comment world_debt_slave
world_debt_slave's picture

I've been out of stocks since 2000, yeah, this can take a while.

Wed, 10/23/2013 - 23:06 | Link to Comment WTFUD
WTFUD's picture

Nothing will ever change until a group of patriots are standing revolvers in tow at the revolving doors.

Wed, 10/23/2013 - 23:20 | Link to Comment game theory
game theory's picture

I'll get junked for saying this...but the market is headed WAY higher with the way the US is shitting dollars into the economy. The market cannot collapse. You've got gov't workers absolutely paying top dollar for DC/VA real estate such that those markets are in a massive bubble. Meanwhile. defense contractors are declaring record profits. The US is enriching so many f-ing a-holes with it's deficit spending that I wonder when I'll be using dollars instead of toilet paper. Soon...

Thu, 10/24/2013 - 06:42 | Link to Comment 29.5 hours
29.5 hours's picture



"The market cannot collapse."

One opinion.

"I'll be using dollars instead of toilet paper."

Another opinion--that sounds much like a collapse to me.



Wed, 10/23/2013 - 23:38 | Link to Comment Let The Wurlitz...
Let The Wurlitzer Play's picture

What is the catalyst going to be???

The same thing that brought the market to where it is today - GREED!!!!


Thu, 10/24/2013 - 00:45 | Link to Comment Central Wanker
Central Wanker's picture

Nope. Greed has brought it up. Fear will bring it down. 

Stocks can't stand fear. 

Thu, 10/24/2013 - 01:03 | Link to Comment horot
horot's picture

That's right. When all emotions are shattered, FEAR burns the brightest. Oh wait... Wrong forum.

Wed, 10/23/2013 - 23:56 | Link to Comment devo
devo's picture

warning shmorning.

get out there and make some money, kids. full speed ahead.

Thu, 10/24/2013 - 00:16 | Link to Comment alfred b.
alfred b.'s picture

This guy is not about to be invited back on CNBS any time soon...they're not familiar with truth!!


Thu, 10/24/2013 - 01:08 | Link to Comment Rock On Roger
Rock On Roger's picture

Invest in assets with zero return? Sounds like gold to me.


Stack On


Thu, 10/24/2013 - 01:08 | Link to Comment Joke Heros
Joke Heros's picture

Maria looks like she's sick with the flu

Thu, 10/24/2013 - 01:19 | Link to Comment alfred b.
alfred b.'s picture


....yess, looks like the flu...lolll...but if she were chatting-up, euh, I mean interviewing her pet/bankster Dimon, her hair would be down & she'd be all wet & giggling!!


Thu, 10/24/2013 - 01:58 | Link to Comment devo
devo's picture

Looks more like butt cancer.

Thu, 10/24/2013 - 02:03 | Link to Comment q99x2
q99x2's picture
Mark Spitznagel 

Has no control over the market indexes but The FED and Obama and Pelosi and Dimon and Blankfein do. The software will do what they tell it to do.

Not like the old days. Not like before December 2011. Those days are gone.

Until you see those mushroom clouds -- BTFD.

Thu, 10/24/2013 - 03:13 | Link to Comment vulcanraven
vulcanraven's picture

Well isn't everybody Nostra-fuckin-damus nowadays.

Wake me when EBT gets turned off for more than a month. Until then, I am waiting for Punxatawny Phil to show his furry little ballbag.

Thu, 10/24/2013 - 03:56 | Link to Comment waterdude
waterdude's picture

if ZH repeats the mantra enough maybe one day they will right.

Thu, 10/24/2013 - 04:14 | Link to Comment Watson
Watson's picture

A 40% decline still leaves (using last night's close) the S&P over 1,000 compared to sub-700 in 2009.

So even if it happened the world is not going to end...

Thu, 10/24/2013 - 05:09 | Link to Comment kurt
kurt's picture

Maria Fart-Aroma. Why do psuedo-intellectuals add that listhp? Opra, Shirley Chism, Maria.  They think is sounds sofisthacated.

Thu, 10/24/2013 - 05:12 | Link to Comment ross81
ross81's picture

Yeah there will be a major crash fairly soon I reckon, but that will just give the Fed & co the "excuse" to pump at an even more unimaginable level. Remember in 2008 the public being angry (but not that angry) about tens of billions going to bail out banks, but now even just 5 years later, we're mostly like meh, it was only 10s of billions. We'll get to a stage in a few years where the herd will say meh, it's only 500 billion, etc, etc. The population is already desensitised to the violence of inflation.

Thu, 10/24/2013 - 05:29 | Link to Comment jolidacrown
jolidacrown's picture

Sicilian peasant look  - lacks the head scarf - whatever might have been - long gone.

Thu, 10/24/2013 - 06:05 | Link to Comment goldenbuddha454
goldenbuddha454's picture

After many economists and financial pundits have told us about the coming collapse what will be the response by world governments be when it actually happens?  IMO it will all be the same thing allover again whereby the people look to their respective govts. to 'do something' when in actuality the response should be to get govt. out of the solution whereby it keeps its hands off of business and gets out of the monitary policy/printing business, but we know that will never happen with exception of a few.

Thu, 10/24/2013 - 06:18 | Link to Comment J Pancreas
J Pancreas's picture

I cringe when ZH posts a CNBS interview when Maria is giving the questions. That demon-slut from Hell needs to be put out to pasture. When I saw the pics online of her in 'mom jeans' with a rear end like someone pulled the ripcord on a parachute I gasped in terror. Sara Eisen on the other hand...

Thu, 10/24/2013 - 07:18 | Link to Comment Mi Naem
Mi Naem's picture

So you got your ID name from having your head so far up your parachute that this is what you saw? 

Thu, 10/24/2013 - 07:05 | Link to Comment Benedict Farse
Benedict Farse's picture

Rocking that panda look Maria.

Thu, 10/24/2013 - 07:39 | Link to Comment geotrader
geotrader's picture

Maria looks sick(er).

Thu, 10/24/2013 - 08:03 | Link to Comment Vooter
Vooter's picture

"What we must learn from history is that the government should stop suppressing the natural, homeostatic functions of the market. Otherwise, the "cure" will prove deadlier than the disease."

Exactly...basic shit for anyone with a brain...

Thu, 10/24/2013 - 08:07 | Link to Comment Sufiy
Sufiy's picture

Gold Spikes to $1348.40 Is Initial Claims Data Leaked Again?

September Nonfarm Payrolls Huge Miss - Gold Spikes Up, Data Leaked Again

We have September Nonfarm Payrolls with the Huge Miss and Gold Spikes Up immediately. Data was leaked yearly again with Gold printing: +$5 at 8.28 and  +$18 at 8.33      "Cowboys" shorting the Gold market, according to Eric Sprott, must be in a serious trouble now. The yearly trade on October 15th has amounted to 640 million and Gold was Sold at 1270 - 1250 levels. Now with CFTC out of hibernation can we expect at least some kind of investigation?   There are more and more calls about the US Dollar loosing its Reserve Currency of Choice status now. Default was avoided, but the damage is done.
  All FIAT currencies are based on trust. The geopolitical shift is making its way to mass media and we are witnessing the groundbreaking developments in the Gold market. Nobody can manipulate it all the time and China will be busy writing "Thank You Cards" to the FED and related Cartel members at LBMA and BIS, buying all the physical Gold available for Delivery at this levels.   We can forget about the Taper until mid 2014 now and Janet Yellen will be following the new FED's playbook written by Michael Woodford. Peter Schiff has dissected for this situation very well.

Thu, 10/24/2013 - 08:37 | Link to Comment esum
esum's picture

How about when the House of Saud tells us they will accept alternative currency and we lose the petro-dollar...and world reserve status.. coupled with obumbler care draining the discretionary income of the bobbleheads who elected him.. that ought to pulll the rug out from under the imaginary world we live in.. when the uninformed wake up to the fact obumbler has taken great care of bundlers, banks, the parasites, unions and now inusrance companies and they are now serfs with no constitutional rights.. how bout that commrade. 

Thu, 10/24/2013 - 10:28 | Link to Comment pvbflorida
pvbflorida's picture

Spitznagel makes reference to history and says it looks like the past and therefore it must happen.....and soon. But the monetizing of debt at this rate is unparallelled. It is the theft of purchasing power of savings that have been attained via low interest rates that funds higher prices. There will be no substantial correction as long as the flow of capital into US markets is not curtailed. No one is telling their employer to stop making 401k deductions. World capital still sees the US as safe haven against "bail-ins" and governments that nationalize private entities. By his own admission the low interest rate environment is a fraud. So when does that stop? and why would it? Answer that and I will entertain the fear of a 40% correction.

Thu, 10/24/2013 - 11:22 | Link to Comment moneybots
moneybots's picture

"I would argue that had the government followed this path in 1929, there would have been a garden-variety recession — not a Depression."


I think it would have been more than a flippantly remarked garden variety recession, but would not have turned into a decade long Great Depression.

The bigger the boom, the bigger the bust.

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