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Quote Of The Day: Is Larry Fink Confused?

Tyler Durden's picture




 

This morning has seen a plague of talking-head-based soundbites propagated through the mainstream media as 'fact' and actionable. One that caught our eye, from none other than "largest asset manager in the world" Larry Fink of Blackrock, simply beggared belief:

  • *FINK SAYS JAPANESE INVESTORS QUESTIONING INVESTING IN U.S. DEBT

As we recently noted, the Japanese bond market is now dead (for all intent and purpose) but a glance at the following chart of credit reality suggests those Japanese investors might stop to reflect a little on their own reality...

 

As Hayman's Kyle Bass previously noted,

how many have seen this chart showing global sovereign debt as a percentage of total government revenues? 

 

 

Is there now any doubt after seeing this why the proverbial four
horseman are really just one giant black swan, only not one of failed
bond auctions or something quite as dramatic, but something as simple
and mundane as the smallest uptick higher in rates which would blow up
the entire global financial farce, starting with the most imbalanced
domino of all - the land of the rising sun?... And that at least Greece is not Japan?

 

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Tue, 11/12/2013 - 18:13 | 4147665 Seer
Seer's picture

But we're sure it's going to turn around any day now... just need to rearrange the axis and...

Tue, 11/12/2013 - 18:15 | 4147671 Dear Infinity
Dear Infinity's picture

It's like rearranging the chairs on the deck of the Titanic... purely pissing in the wind.

We need some silver to slay all these vampires.

Tue, 11/12/2013 - 18:18 | 4147689 negative rates
negative rates's picture

He fails to relize that Japan has no external debt, they don't owe other countries, other countries owe them. So the internal debt is meaningless.

Tue, 11/12/2013 - 19:11 | 4147873 slotmouth
slotmouth's picture

No external debt?  You must be out of your damn mind.

Tue, 11/12/2013 - 19:35 | 4147966 caShOnlY
caShOnlY's picture

I think he meant "external debt that matters".  Just like the U.S. the debt will be fixed: just a teensy, tiny, little bit more money printing will do it!!  THEN BOOM! off to the races baby!! it's coming mama, it is a fact!

Tue, 11/12/2013 - 18:14 | 4147672 negative rates
negative rates's picture

Anyone named Larry is confused.

Tue, 11/12/2013 - 18:16 | 4147676 Deathrips
Deathrips's picture

See what happens Larry, when you fuck a stranger in the ass?

 

Turd calling other turd..stinker.

RIPS

Tue, 11/12/2013 - 18:31 | 4147723 prains
prains's picture

how is FREE money printed from air to replenish the failing ponzi empire, confusing?

 

that's like being confused at the appearnce of your own tits!

Tue, 11/12/2013 - 18:13 | 4147666 Divided States ...
Divided States of America's picture

Hes not confused....Hes a motherfuckin snake

Tue, 11/12/2013 - 18:17 | 4147683 Rainman
Rainman's picture

USSA could easily top all of them if she chose to tell the truth. We are #1 !...exceptional.

Tue, 11/12/2013 - 18:23 | 4147701 Dr. Engali
Dr. Engali's picture

With the bond market dead and the central bank buying everything in sight, what is the catylist that will drive rates higher? I don't see it happening unless the world throws the yen overboard en masse.

Tue, 11/12/2013 - 18:54 | 4147807 kaiserhoff
kaiserhoff's picture

Good question.  I think the answer is selling.

Lots of bonds are still held in retirement funds and insurance pools.  At some point, people get edgy.  Things often change when that is least expected.  Or it could be one huge bankruptcy.  Calipornia, anyone?

Tue, 11/12/2013 - 22:51 | 4148534 Non Passaran
Non Passaran's picture

It won't happen, CBs will keep buying.
In case that isnt enoguh, next follow capital controls and various other repressive measures (we need you to invest your savings in govt bonds).
But just Japan-style muddle through is good for another 5-10 years.
Unfortunately it doesn't appear like this is going to end anytime soon...

Tue, 11/12/2013 - 18:26 | 4147709 NuYawkFrankie
NuYawkFrankie's picture

Re Is Larry Fink confused?

I definitely fink so.

Tue, 11/12/2013 - 18:29 | 4147719 SmittyinLA
SmittyinLA's picture

There's a ton of shit unpayable US debt, like for instance the $176 million that tiny 1.2 sq mi "illegal immigrant on welfare city of Bell CA" owes bond holders. 

What did the bond holders invest in?

Who knows, Bell was paid off 60 years ago, all their infrastructure is 60-80 years old, so they didn't invest in new infrastructure, they invested in Mexican looting.

recovery from illegal aliens on welfare has gotta be tough. 

Tue, 11/12/2013 - 18:38 | 4147734 Mike Hunt Hurts
Mike Hunt Hurts's picture

At least they have safe nuclear power generation in Japan.

Tue, 11/12/2013 - 18:38 | 4147749 negative rates
negative rates's picture

And the cars are good too, at least until they get into the hands of an American mechanic.

Tue, 11/12/2013 - 19:02 | 4147832 booboo
booboo's picture

Japanese are also very concerned about the effects of Three Mile Island on their planned explosive birth rate.

 

 

 

Tue, 11/12/2013 - 21:02 | 4148278 Its_the_economy...
Its_the_economy_stupid's picture

way funny!!

 

why is no one else laughing?

Tue, 11/12/2013 - 19:09 | 4147863 Offthebeach
Offthebeach's picture

Making things that last, is a terrorist act and an assault at the foundations of good ol amerifreek'n way of life! You clear boy?
Clunkers, shitrock matchbox cluster condos with masonite siding, appropriate pig heart valves and dollar pink slime is what fuels our greatness! Why the creative destruction of Obamacre alone will open untold fields of wealth harvesting.
Yesum. Americas future is piled higher and deeper then ever. It is, we are, the fast food sign shining on a hill unto others.

We're in the Christ child mass crap finance season and if you don't want a million child laborers to turn to donkey prostitution....you'll go zombie up and buy buy buy.
But first throw out.
Its patriotic.
We're all patriotic, right Larry?

Tue, 11/12/2013 - 21:06 | 4148296 Its_the_economy...
Its_the_economy_stupid's picture

keep writing. I'm learnin' (and laughing) (BTW, no pig valves for me please)

Tue, 11/12/2013 - 21:05 | 4148293 youngman
youngman's picture

I for one cannot figure out why Japan buys US Debt....now that is the joke...they have enough of their own to buy..or are they hedging.....lol....hedging at 1800% debt to GDP..now that is funny

Tue, 11/12/2013 - 21:07 | 4148297 Its_the_economy...
Its_the_economy_stupid's picture

yup

Tue, 11/12/2013 - 21:08 | 4148302 Its_the_economy...
Its_the_economy_stupid's picture

of course, what passes for a hedge these days is LAUGHABLE too

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