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Beware The 'Head-Fake' Taper As "Markets Have Now Discounted Their Own Dishonesty"

Tyler Durden's picture





 

Submitted by James Howard Kunstler of Kunstler.com,

The financial wires and pod-waves are all lit up these days like it was happy hour at the Lottery Winner’s Lounge.  It appears that the American economy - capital management division - has found the long-wished-for magic alternative energy source: horseshit. It is fueling the conversation all over the Web and over the senile mainstream media megaphones. One technical analyst, celebrity Tweeter Ralph Acampora of Altaira Wealth Management, actually said this week that the USA would be “energy independent by 2016.” That’s rich. We’d only have to come up with 8.5 million new barrels of oil a day, or give up driving cars altogether.

Apparently, the Federal Reserve is not just hosing down the markets with liquidity (i.e. money for nothing), but has also turned its headquarters in lower Manhattan into the world’s biggest stationary crack pipe. Meanwhile, more than a few professional observers of the financial scene say there can’t be any bubble because that’s the only thing everybody talks about and bubbles only form when nobody notices them.

That’s just not true. Plenty of people were hollering and finger-pointing about the housing bubble years before it blew up the banking system, including yours truly in a book published in 2005 (The Long Emergency). The reason there is so much anxious chatter about the current bubble is because the bubble is there for all to see, and when it pops it is sure to leave a lot more rubble on the ground than the last time — for instance, the wreckage of trust in all paper investments, which would be quite an historic financial innovation. Since the interventions and manipulations of markets and interest rates are perfectly obvious, one would have to conclude from the current sentiment that faith in the crookedness of finance has completely solidified. The markets have now discounted their own dishonesty.

The story making the rounds these days is that the USA’s industrial economy is on the rise again; that the housing market has “recovered;” that (according to Meredith Whitney) the “central corridor” of the nation (Texas to Minnesota) is the second coming of Japan in the 1960s; that we have more oil than we know what to do with; that the nation has bred a super-race of intrepid entrepreneurial risk-takers like unto no other society in history; and finally that whatever else we are or are not, America is the cleanest shirt in the laundry basket of Mother Earth.

This is all horseshit of course, being smoked in the New York Fed’s crack pipe.

Here’s what’s actually going on. The Federal Reserve can only pretend to have any option besides force-feeding “money” into Wall Street as if it were a Strasbourg Goose with Crohn’s disease. What passes through goose is a vile toxic substance called malinvestment, which turns the energies of society into activities that produce nothing of value, like hedge fund employee bonuses, NSA operations, Tesla car promotion, Frank Gehry condo towers, drone strikes against Afghani wedding parties, Obama photo ops, inflated auction prices of oil paintings, and Barney’s new Jay-Z holiday fashion collection.

The Fed makes regular noises about ending the force-feeding program (a.k.a. “quantitative easing” or “bond purchases”) issued in the recorded minutes of its Open Market Committee (FOMC). The propaganda is called “forward guidance” to give it the appearance of seriousness and rectitude, but its actual nature is more like what goes on in a Jerry Lewis movie of the 1960s — a kind of antic mugging. Lately it’s referred to as “taper talk” in reference to the threat of tapering the Fed’s purchases of US Treasury bonds and other debt paper, which runs at around $85 billion a month. Sometime soon, the Fed may announce a tiny taper of say $10 billion a month. This head-fake taper will cause the interest rates on the ten-year-bond to shoot up north of 3 percent and threaten to bankrupt the government — which is too broke to pay interest that high on the loans it takes. The markets will have a whack attack over the tiny taper. The Fed will freak out at the odor of deflationary depression and go back to full-tilt force-feeding of the sick goose.

The outcome will be some combination of a complete loss of faith in paper currency and the “assets” denominated in it, a complete loss of trust between banks that they are solvent enough to do business with each other, and a conclusive implosion of Wall Street and all the institutions in and around it, extending to the executive branch of the federal government. The sorry little appendage to all that, US economy, will be left in the cold and dark, whimpering for its mommy.

 


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Mon, 11/25/2013 - 12:49 | Link to Comment rubearish10
rubearish10's picture

That's a healthy dump!

Mon, 11/25/2013 - 12:53 | Link to Comment I am more equal...
I am more equal than others's picture

 

 

That is a pile of Bernake

Mon, 11/25/2013 - 13:06 | Link to Comment NotApplicable
NotApplicable's picture

Hope our "have to taper" Tyler has read this.

Mon, 11/25/2013 - 13:28 | Link to Comment MonsterBox
MonsterBox's picture

Bullish on road-apples

Mon, 11/25/2013 - 14:25 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Moar QE, Taper this, blah blah blah. The Fed will start to secretly taper with the big boys in the know. Short of the Century for those who are luck. F*%k rest of us.

Mon, 11/25/2013 - 15:20 | Link to Comment aVileRat
aVileRat's picture

Nah it is going to be a trial taper, a 8% plunge. Fed saying the Taper is here. Market drop 40%. Fed walk back Taper. Market rallies 4% the next day. Cycle resets for another year of trading fees and comissions.

 

Mon, 11/25/2013 - 14:04 | Link to Comment El Oregonian
El Oregonian's picture

Did you say "Taper" on, or Diaper" on?

Mon, 11/25/2013 - 13:30 | Link to Comment superflex
superflex's picture

"You didn't shit that".

Mon, 11/25/2013 - 14:08 | Link to Comment booboo
booboo's picture

We call them road apples

Mon, 11/25/2013 - 18:49 | Link to Comment Oracle 911
Oracle 911's picture

Actually horeseshit is a high quality manure which improves the soil. Please don't call it Bernanke, because that thing can't improve even the soil.

Mon, 11/25/2013 - 13:55 | Link to Comment doctor10
doctor10's picture

Someday mebbe they'll buy a clue!!

The USA is abig nothing burger. Capital is worthless. Your ideas vacuumed by the NSA. Your business regulated and taxed beyond all resaonable utility.

 

Until most of the chattering class can't  pay the Georgetown condo mortgage-nothing much will change

Mon, 11/25/2013 - 12:52 | Link to Comment firstdivision
firstdivision's picture

With all the chatter about taper, no bubbles, housing recovered, and markets rising to pull in retail, are the four horsemen of the apocalypse

Mon, 11/25/2013 - 13:07 | Link to Comment iLiquid
iLiquid's picture

The four horseshitman...

Mon, 11/25/2013 - 13:09 | Link to Comment fonzannoon
fonzannoon's picture

The middle class desperately wants the market to crash to give some legitimacy to it's demise. The market is telling the middle class to go fuck itself, and it will be just fine without it.

Mon, 11/25/2013 - 13:25 | Link to Comment firstdivision
firstdivision's picture

Would be fun if everyone on under the 1%er's cashed out leaving all the players left to cannibalize each other.

 

 

Mon, 11/25/2013 - 15:04 | Link to Comment Pegasus Muse
Pegasus Muse's picture

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."  --Henry Ford

Mon, 11/25/2013 - 13:41 | Link to Comment nickels
nickels's picture

Expect a Fed taper (they are not crooks), when all the bad paper is off the banks' books. ---Burma Shave

Mon, 11/25/2013 - 12:51 | Link to Comment maskone909
maskone909's picture

 "roll that shit, light that shit, smoke that shit"

then SHORT that shit

Mon, 11/25/2013 - 13:14 | Link to Comment iLiquid
iLiquid's picture

The market can stay irrational longer than you can remain solvent.

Mon, 11/25/2013 - 13:32 | Link to Comment TrumpXVI
TrumpXVI's picture

It's even worse than that...the Fed can print money and buy Treasuries and septic MBSs longer than you can remain solvent.

Mon, 11/25/2013 - 16:50 | Link to Comment Headbanger
Headbanger's picture

"Good thing we didn't step in it" ---  Cheech and Chong

Mon, 11/25/2013 - 12:52 | Link to Comment FreeNewEnergy
FreeNewEnergy's picture

We can only hope for change.

If you like your insolvent bank, you can keep your insolvent bank. Period.

Mon, 11/25/2013 - 12:52 | Link to Comment Bobbyrib
Bobbyrib's picture

Look at that dung, if you are not an executive for the company you work for, that is how much your employer values you.

Mon, 11/25/2013 - 12:53 | Link to Comment W74
W74's picture

No worries.  If the "market" crashes downward they'll just recind the orders and make everything whole again.  To the Moon!!!

Mon, 11/25/2013 - 12:53 | Link to Comment max2205
max2205's picture

Lets make it 6 years we have to read dooooom

Mon, 11/25/2013 - 12:54 | Link to Comment cowdiddly
cowdiddly's picture

That there is a picture of an unencumbered asset having a store of value.

At least it will have value as a ferti;lizer for growing food.

Mon, 11/25/2013 - 12:55 | Link to Comment ZeroChance
ZeroChance's picture

Mommy! :-(

Mon, 11/25/2013 - 12:58 | Link to Comment RSDallas
RSDallas's picture

Do you feel better?  At least end your rant with ways we can avoid stepping in the horse dump.

Mon, 11/25/2013 - 13:03 | Link to Comment astoriajoe
astoriajoe's picture

I think we're already sitting in it.

Mon, 11/25/2013 - 13:29 | Link to Comment RSDallas
RSDallas's picture

Thus is true!

Mon, 11/25/2013 - 13:45 | Link to Comment Tall Tom
Tall Tom's picture

There ARE NO SOLUTIONS. DENIAL is even worse.

 

So enjoy the Shitpile that you, by your participation, have contributed.

 

America DESERVES this. Collapse baby collapse.

 

Happy Holidays. Be sure to go shopping on Friday. Spend lots of money that you do not have. Create your own QE...Credit Money out of thin air. Wall Street is dependent upon you.

Mon, 11/25/2013 - 12:59 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

uhhhhh....buy buy buy?!?!?!?!

Mon, 11/25/2013 - 12:59 | Link to Comment Frank N. Beans
Frank N. Beans's picture

This just stinks

Mon, 11/25/2013 - 13:00 | Link to Comment RockRiver
RockRiver's picture

Well said....

Mon, 11/25/2013 - 13:02 | Link to Comment djsmps
djsmps's picture

What's a holiday week Monday without a SHELTER IN PLACE order?

Mon, 11/25/2013 - 14:37 | Link to Comment moonstears
moonstears's picture

Hadn't seen it +1

Mon, 11/25/2013 - 15:17 | Link to Comment Diogenes
Diogenes's picture

Bureau of Alcohol Tobacco and Firearms, sounds like a fun place to work.

Mon, 11/25/2013 - 15:48 | Link to Comment JohnG
JohnG's picture

What kind of scotch pairs with an M16?

Depends on what you're smoking...

Mon, 11/25/2013 - 17:50 | Link to Comment espirit
espirit's picture

Chevas works for me...

Mon, 11/25/2013 - 13:03 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

The Federal Reserve can only pretend to have any option besides force-feeding “money” into Wall Street as if it were a Strasbourg Goose with Crohn’s disease.

 

aka: EXTORTION 

Mon, 11/25/2013 - 13:33 | Link to Comment cossack55
cossack55's picture

You may call it extortion, I call it a well crafted sentance that made me laugh.

Mon, 11/25/2013 - 13:09 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

Same pile as usual, they just stopped spraying that pleasing room spray to cover it up. USSA being energy independent by 2016 is entirely possible with rollout of fuel cell technology.

Mon, 11/25/2013 - 13:44 | Link to Comment donsluck
donsluck's picture

Ha ha ha, I didn't down vote you, but I can tell why others did. Fuel cells CONVERT energy, they do not produce it. We may have cleaner skies (amen) but that is it.

Mon, 11/25/2013 - 13:53 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

donsluck             Fuel cells run on natural gas and water other than H2. We are silly with natural gas and oil here in the USSA. Hydro powered vehicles will come out for consumer purchase at reasonable prices in 2015 which will change the mindset of Americans toward energy. Have seen some of the consumer products that will be available, the muppets will be impressed.  

Mon, 11/25/2013 - 13:47 | Link to Comment Socratic Dog
Socratic Dog's picture

Christ, is it time to roll out the "fuel cells will save us, it's free energy" horseshit again?  Well, it's about 10 years since it was last rolled out, so maybe it is time.

A little secret: fuel cells run on hydrogen, a very light gas.  Transporting it in quantity is not feasible.  So it needs to be generated where it's used.  How is it generated?  By electrolyzing water.  Just like it sounds, that takes electricity, lots of it.  Fuel cells produce electricity.  Quite a bit less than it takes to electrolyze that water.  See any problem there?  Elsewhere known as energy return on energy invested, it's a concept that doesn't get much play on TV. I wonder why?

If you were being sarcastic, I apologize.

Mon, 11/25/2013 - 13:59 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

Hydro vehicles will be offered in 2015 by Honda, Toyota and Hyundai, look it up.

Mon, 11/25/2013 - 18:42 | Link to Comment Radical Marijuana
Radical Marijuana's picture

Nihilist Cipher, you do not appear to be consistent with your name!

There are plenty of creative alternatives. However, the world is being strangled to death by legalized lies, backed by legalized violence, while all the "democracies" are dying due to international treaties, etc. ... The problem with all of the creative alternatives is that nothing can actually be done within our currently established systems unless it makes rich people richer, by creating more debts, in the form of money made out of nothing, as debt, to finance any possible creative alternatives within the established social pyramid systems. Despite there being plenty of possible creative alternatives, the real world is locked into a downward spiral of debt controls backed by death controls, where the debt slavery numbers have become debt insanities, which most probably means that death insanity numbers will follow that.

The "solutions" are most probably going to become mass murders ... and so, the only possible creative alternatives will have to survive through that situation. ... The current problems started back when the counterfeiting of the public money supply by private banks was first legalized. That has paradoxically enabled the Anglo-American (Zionist) empire to become the most globally dominate, and able to back up its financial frauds with militarized police force. However, that history of debt slavery has segued into globalized electronic frauds, backed by atomic bombs, where the debt slavery has driven its numbers through exponential growth to become debt insanity, backed up by the threat of death insanity numbers, through the credible threats from weapons of mass destruction. Inside that context, where nothing can be done unless it makes rich people richer, while the vast majority go deeper into debt, (but they are already way too far in debt to be able to continue doing that in any sane ways,) the back-up systems are the psychotic breakdowns to social storms in the form of more genocidal wars, along with democidal martial law.

Meanwhile, althought there is no doubt that there are plenty of creative alternatives, HOWEVER, without the crucial core set of alternative death controls, to back up alternative debt controls, then the currently combined money/murder systems can not do anything but automatically drive their debt slavery to become worse and worse debt insanities ... which will eventually reach some turning, tipping points, towards collapses into chaos, and social storms of magnitudes nothing like ever before in human history, since the collapse of systems of global electronic frauds, backed by atomic bombs, has never been seen before, while that was all building and building accumulated systemic risks, which pretty well encompasses everyone on the planet. Any possible creative alternatives, in every other area of human endeavour, of which there are an abundance, are going to have to, maybe, survive through the genocidal wars, and democidal martial law, as well as maybe survive through the ways that Neolithic Civilization's evil deliberate ignorance has enabled human beings to destroy the natural world at an exponentially accelerating rate.

THE FUNDAMENTAL STRUCTURE OF OUR FINANCIAL SYSTEM IS FORCE BACKED FRAUDS, WHERE THE FRAUDS CAN NEVER BE MADE TO BECOME TRUE BY THE FORCE, BUT ONLY DRIVE THE ENTIRE CIVILIZATION TO BEHAVE IN INCREASINGLY INSANE WAYS, WHILE THAT CIVILIZATION IS STRANGLING ITSELF TO DEATH WITH ITS SYSTEMS OF LEGALIZED LIES, BACKED BY LEGALIZED VIOLENCE,  MAKING MOST MENTIONS OF "MALINVESTMENT" BE EXTREMELY EUPHEMISTIC UNDERSTATEMENTS.

Unless there are some real creative alternatives to the ways that civilization is being strangled to death by the paradoxical effects of too much success at backing up lies with violence, controlling everything that it is doing overall, then none of the possible lesser creative alternatives come close to being in the ball park of those problems. My point is not that there are no creative alternatives possible, because I am sure that there are an abundance of creative alternatives, in every area that one looks. My point is that the system as a whole is dominated by money/murder systems, of electronic fiat money frauds, backed by weapons of mass destruction, while THERE IS NO AGREEMENT WHATSOEVER ABOUT WHAT SHOULD BE DONE OTHER THAN KEEPING THOSE INSANE SYSTEMS GOING.

There is practically no agreement on the basic nature of the problem, which is the creation of "money" out of nothing, as debts, by private banks, while everything else is based on that insanity prevailing and continuing to grow greater and greater. There is even less agreement about what should be done other than that, because the established systems depend upon the continued success of the best professional liars and immaculate hypocrites continuing to trick and fool enough of the people enough of the time ... BUT, IF THEY FINALLY FAIL TO BE ABLE TO CONTINUE TO DO THAT, THEN WE RETURN TO THE REALITY THAT THERE HAS TO BE SOME NEW SYSTEMS OF ORGANIZED LIES, OPERATING ORGANIZED ROBBERIES, IN WHICH NEW SYSTEMS OF DEATH CONTROLS BECOME THE NECESSARY CORE TO THOSE NEW SYSTEMS, AS THEIR CENTRAL FEATURE, OR KEYSTONE TO ANY SYSTEM OF POSSIBLE ALTERNATIVES, OR THE LYNCH PIN TO HOLD TOGETHER ANY ALTERNATIVE SYSTEMS OF ASSEMBLING THE POSSIBLE CREATIVE ALTERNATIVES.

Obviously, the only possible way to get through the current system of legalized lies, backed by legalized violence, pushing its inherent contradictions through to psychotic breakdowns and resulting social storms, is for the possible alternatives to MAYBE survive through the resulting genocidal wars, and democial martial law mass murders, to MAYBE emerge on the other side, IF it turns out that we have not already destroyed the natural world too badly for it to be able to recover enough to make anything like that possible ???

This article above has raised questions regarding how "Markets Have Now Discounted Their Own Dishonesty." While the ways that that was discussed were cute, it was also childish, in that it fails to perceive the full magnitude of the Markets' Dishonesties! Our whole civilization is based on a long history of triumphantly legalized lies, backed by legalized violence, enabling political economy to run away with the short-term success of those systems. Not only has that driven extreme social polarization, that evil deliberate ignorance has also allowed for the runaway destruction of the natural world. All of those things maximized the short-term benefits of those who were the best at being dishonest, and backing their claims up with coercion, while the full longer term costs of doing that were able to be socially denied and suppressed.

Therefore, the markets have barely begun to discount their own dishonesty, because they mostly do not have the slightest clue about the degree of their full dishonesty, and do not want to know any of those real social facts or natural facts. More radical truths about anything that Neolithic Civilization has been lying about more and more for thousands of years are barely on the public agenda of the kinds of "corrections" which are necessary. The extreme paradoxes of advances in science and technology being channeled through a social pyramid system fundamentally based upon backing up lies with violence, in order to keep the vast majority of people ignorant and afraid, so that they could be controlled and exploited, is reaching some serious turning points, where that whole thing could tip over, since that social pyramid system has become extremely steep, while it also undermined the foundations of the natural capital that it was originally able to be built upon.

OF COURSE, IN OUR BIZARRO MIRROR WORLD, WE ARE REACHING THE POINT WHERE MARKETS ARE BEGINNING TO DISCOUNT THEIR OWN DISHONESTY. HOWEVER, THEY HAVE NOT YET COME REMOTELY CLOSE TO COMPREHENDING THE FULL MAGNITUDE OF THEIR DISHONESTY! The currently established "markets" are extremely good at maintaining their kinds of evil deliberate ignorance. In that context, they are still light years away from appreciating the full magnitude of the ways that everything they have been doing for Centuries has been based on legalized lies, backed by legalized violence, which is still automatically getting worse, faster, at the present time. The corrections coming to those markets appear to require events beyond human control, since everything actually being controlled by human beings is so totally dominated by successful professional liars and immaculate hypocrites, that any more radical truths about anything they are doing has no reasonable chance to change anything, unless there are events beyond their ability to control anymore, which force them to change?

Mon, 11/25/2013 - 20:38 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

Radical Marijuana       You seem to be very consistent with your name with that post. Daaaaaaaaaaamn that's some seriously heavy shit you been smoking. A little too dark in spots but hang in there and keep on posting. The markets have always been dishonest, and nobody knows how truly rotten and disgusting the ruling elites are more than me, but they have a saying "never let them see it coming." You are forgeting that the phoenix rises from their majick. The new ideas and inventions have been waiting in the wings for the new play, act one to begin.

Mon, 11/25/2013 - 13:07 | Link to Comment lasvegaspersona
lasvegaspersona's picture

I don't think the USG's ability to pay interest is the issue with the 10 year. It's more immediate effect (going to 3%) is that the interest rate derivatives go bad. Some large SIFI banks hold trillions of these all leveraged over any reasonable ratio. When they have to start paying on these it is game over!

Thus we see the chess game ending as each move is studied and rejected and the next likewise. The question is does the game end civilly with the King placed sideways, or does the loser wipe the table with an angry forearm slap.

Mon, 11/25/2013 - 13:15 | Link to Comment Urban Roman
Urban Roman's picture

It's priced in.

BTMFATH, bitchez!

Mon, 11/25/2013 - 13:17 | Link to Comment Cursive
Cursive's picture

FTMFW:

 

a super-race of intrepid entrepreneurial risk-takers like unto no other society in history;

Mon, 11/25/2013 - 13:18 | Link to Comment DavidC
DavidC's picture

I've said it before, the Fed should have got the Dow into the 10,000 to 12,000 area, S&P into the 1100 to 1200 and MANAGED them there, allowing things to heal slowly, rather than painting itself into a corner by pushing the pedal to the metal.

Fuckwits.

DavidC

Mon, 11/25/2013 - 13:32 | Link to Comment Bay of Pigs
Bay of Pigs's picture

No, the markets should have washed out in 2008/2009 with the Down going down to 2000-3000 and gold rising to those levels. The banks should have been allowed to fail and go bust. Then a true bottom would have been reached and economic healing could have begun.

Now it's just a complete clusterfuck, and a hundred times worse.

 

Mon, 11/25/2013 - 13:46 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re:   and a hundred times worse

Except for the top 10% who own a majority of the nations wealth and politicans. 

Mon, 11/25/2013 - 14:30 | Link to Comment spine001
spine001's picture

No wrong, only top 0.1% are being saved,,money to wash the derivative debacle must come from somewhere and mathematics is inexorable, there wasn't enough wealth in the bottom 80% to cover the black hole the banksters created so they had to go for the 99.9%. Run the numbers and you will see. That is why all this fight against guns, the billions of runs of ammunitions etc., all revolutions start when the interests of the middle and low upper class align with the lower class.WWhen the music stops the bottom 99.9% will be wiped out of their savings and/or working capital.Our current societal structure is nos sustainable for the long term.

 

 

Mon, 11/25/2013 - 13:59 | Link to Comment Papasmurf
Papasmurf's picture

You can't fix the economy without proscuting fraud.

Mon, 11/25/2013 - 13:34 | Link to Comment moneybots
moneybots's picture

"I've said it before, the Fed should have got the Dow into the 10,000 to 12,000 area, S&P into the 1100 to 1200 and MANAGED them there, allowing things to heal slowly, rather than painting itself into a corner by pushing the pedal to the metal."

 

They painted themselves into a corner some time ago, when Greenspan doubled down on 1920's FED policy.

Mon, 11/25/2013 - 13:47 | Link to Comment donsluck
donsluck's picture

And now they "should" quietly disband and turn money printing and (species) coin minting back to the Treasury.

Mon, 11/25/2013 - 13:19 | Link to Comment markar
markar's picture

Meredith Whitney--How to evolve from credible analyst to Wall St. whore in 5 short years.

Mon, 11/25/2013 - 13:36 | Link to Comment slaughterer
slaughterer's picture

MW used to be hot, now not.  

Mon, 11/25/2013 - 16:25 | Link to Comment Doubleth1nker
Doubleth1nker's picture

She got a phone call from the NSA

Mon, 11/25/2013 - 13:20 | Link to Comment ChaosEquilibrium
ChaosEquilibrium's picture

Hedgies and Banks playing the DOW/TRANSPORTS 'arbitrage' again today!!

 

"COLLUSION---So Nobody has to suffer a down day"

Mon, 11/25/2013 - 13:23 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Moar importantly, we're gonna need some moar crack!

Mon, 11/25/2013 - 13:25 | Link to Comment No Euros please...
No Euros please we're British's picture

"the nation has bred a super-race of intrepid entrepreneurial risk-takers "

LMFAO!

Well vote me down, but this does NOT describe your average Mercan that I ever met. Ever wonder why IQ is a statistical measure and no comparison between ethnic groups is ever made? Just saying.

Mon, 11/25/2013 - 13:49 | Link to Comment donsluck
donsluck's picture

It's never made because it's both irrelevent and misleading. IQ tests are ethno-centric and unreliable. Did you know bats have names for each other?

Mon, 11/25/2013 - 14:09 | Link to Comment Kickaha
Kickaha's picture

Ever heard of sarcasm?

Actuallly, come to think of it, the quote accurately describes all of the drug dealers in the USA.

Mon, 11/25/2013 - 13:29 | Link to Comment Postal
Postal's picture

I must respectfully disagree with the author's characterization of financial blatherings as "horse shit." I have horses, and unlike cotton covered in green ink, horseshit is actually a useful product in and of itself: When composted into my garden, it provides a most wonderful natural food source for my plants.

While the point is well taken, in the future I would ask that authors please refrain from insulting valuable end-use commodities by comparing them to the excrement of financial goons.

Mon, 11/25/2013 - 13:35 | Link to Comment cowdiddly
cowdiddly's picture

1. It portable

2. its divisable

3. can be a store of value

4. it is fungible

5. can be used as a medium of exchange

Yep it qualifies.

Mon, 11/25/2013 - 13:51 | Link to Comment Socratic Dog
Socratic Dog's picture

Sorry, but it has intrinsic value.  That rules it out.

Mon, 11/25/2013 - 13:31 | Link to Comment andypaps28
andypaps28's picture

I noticed Jeremy Siegel (Finance professor) was on CNBC saying the Dow fair value is 18,000 given projected earnings.

Interestingly he did say in January 2013 that the Dow should hit 16,000 this year. 

For what it's worth I see a blow-off top forming after no Fed tapering in December (18th meeting) that may last right through to 10th January 2014 (Friday). That maybe a good time to go short. 

 

Mon, 11/25/2013 - 13:36 | Link to Comment moneybots
moneybots's picture

"I noticed Jeremy Siegel (Finance professor) was on CNBC saying the Dow fair value is 18,000 given projected earnings."

 

What is fair value when the financial fraud is backed out?

Mon, 11/25/2013 - 13:44 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Fraud is natural.   The smart-n-savvy people screw the dumbasses with fraud.   

It wouldn't be a fair value if you subtracted out natural human behavior. 

Mon, 11/25/2013 - 13:37 | Link to Comment cossack55
cossack55's picture

Had to down arrow you for actually watching CNBS with the volume on.

Mon, 11/25/2013 - 13:48 | Link to Comment andypaps28
andypaps28's picture

That's fair but I do like to hear/see what the masses are being told. It's the best contrarian indicator. I'm waiting for the picture of the bull to get onto the front of Newsweek before it's all in.

Mon, 11/25/2013 - 13:38 | Link to Comment fijisailor
fijisailor's picture

Message to the FED:  If it's all so fucking great then taper you pussies.

Mon, 11/25/2013 - 13:46 | Link to Comment devo
devo's picture

Lucy places the football, laces out!

Mon, 11/25/2013 - 13:52 | Link to Comment Golden Showers
Golden Showers's picture

Wish in one hand and shit in the other. See what fills up first.

Fuck me, Santa.

Mon, 11/25/2013 - 13:56 | Link to Comment holgerdanske
holgerdanske's picture

I have waited for the stock market to collapse since it stopped collapsing 5 years ago. Nothing has been fixed, the suppression of the individual has increased, the stupidity of the politicians has, if possible, grown, people on the street are still as brainless as they used to be, but poorer, and the rich just swim in money.

Yeah, I think the recipe is pretty much like what you saw in France in the late 18th century, and the results are not going to be far off. There is no longer hope that "democracy" will save the day, because democracy does no longer exist, with the exception of Switzerland.

the only caveat is that the tools of the suppressor are better, the surveillance is tougher and the spine of the oppressed, well, time will tell, but maybe it is weaker. But, there are more of us, many many times more.

The end will be a civil revolt. If it becomes a revolution or a state-on-citizen war, we can't see today.

 

 

Mon, 11/25/2013 - 14:07 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re:  I think the recipe is pretty much like what you saw in France in the late 18th century

EXCEPT, we (in the USA) have the happiest serfs that ever existed in history.    18th century France didn't have gladiator battle on wide-screen TV's,  unlimited porn,  unlimited (near) food,  unlimited bling, and a pseudo representative government.  

The top 1% - with the assistance of the top 10% - have managed to create a utopian feudal society, and that TRUE is an accomplishment.  The Chinese and European top 1% should have the quality of peasants we have in the US.    

Mon, 11/25/2013 - 14:28 | Link to Comment Kreditanstalt
Kreditanstalt's picture

The 40% or so of the population with a job - a real, free market-defined, productive JOB that pays for itself - actually thinks that things are getting BETTER.   Too bad they were 60 or 70% of the population a few decades ago...

Mon, 11/25/2013 - 14:31 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  actually thinks that things are getting BETTER.

Good think The Fed is creating all the debt then.

Mon, 11/25/2013 - 14:31 | Link to Comment strayaway
strayaway's picture

The economic decline of the US will make its commodities more valuable to foreign interests. The central corridor does produce energy including wind, coal, oil and gas as well as exportable feed and food. The central corridor therefore may hold up  well compared with the rest of the US. Cheaper fuel also offers the central corridor cheaper energy prices should manufacturing ever come back the the US. Land is inexpensive. 

Presently, our coasts act as gatekeepers of manufactured products entering the US contributing to wealth shifting to the coasts. The center of the US is at the end of distribution lines from either coast. Shifting the tax burden from middle class taxpayers to import corporations would be a gamechanger for the cebtral corridor. It would make more sense to build manufacturing plants in the center of the Country to take advantage of cheaper land, cheaper energy, half way between coastal markets.

Mon, 11/25/2013 - 14:49 | Link to Comment messy
messy's picture

nobody will scream horseshit if everybody in the room is under the same horseshit up to their noses.

Mon, 11/25/2013 - 14:49 | Link to Comment messy
messy's picture

nobody will scream horseshit if everybody in the room is under the same horseshit up to their noses.

Mon, 11/25/2013 - 15:11 | Link to Comment boeing747
boeing747's picture

Taper ben's ass, look how soft the gasline prices are, you know how bad the real production economy is. Now even FLUKE meters and CRAFTSMAN tools are made in china.

Mon, 11/25/2013 - 18:56 | Link to Comment titty sprinkles
titty sprinkles's picture

I don't usually like to hype books, but "The Long Emergency" was definately a worthwile read.  I even sprung for the hardcover.

Tue, 11/26/2013 - 06:18 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

pretty much like unicorns shitting skittles

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