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This Won't End Well
Presented with little comment aside to ask (rhetorically of course) how
much longer the crushed consumer can subsist on a diet of increasingly saturated credit and dwindled-savings before retail sales revert to reality...
h/t @Not_Jim_Cramer
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All is well.
Where the hell are people getting their money from? That's what I want to know. I see so many pepole shopping at the mall or eating out at restaurants. Where are they getting that money from?
House price goes up, borrow against increase in "market" price, remove equity and,,,,,, voila! Insta wealth.
Get with it man.... if you can't afford it, f'n finance it !!!!
edit: must be some newbies here. Do I gotta put /s?
Obamacare will fix this right up,
as in getting your dog fixed.
Fix is on!
Well it's healthier than Christie's diet of saturated fat
This won't end well..
It will for some. Fortunes are made during depressions because they offer those who saved money and didn't accrue too much debt a chance to buy assets at rock bottom. Bring it.
Unless the depression turns into a Bolshevik revolution
Things will end very well for those that achieve Satoshi conciousness.
That's like, becoming a Grand Wizard in World of Warcraft, or something, right?
More like Arena Master or Gladiator.
"satoshi conciusness" is the clarity expierenced by Kermit in that slayed muppet on the railroad tracks pic tyler uses on goldman articles.
zen fleece, zen stuffing.
I hope South Park does a Satoshi/bitcoin episode in the same manner they did the XBOX/PlayStation one.
Make Cartman the elusive Satoshi. Or Cartoshi.
Old man in house overlooking garden: "He's going to betray you. I heard him talking to Bill Gates earlier. They're going to lock you in the Red Robin."
Cartman: "Why don't you mind your own fucking business, asshole."
Old man: "Why don't you get the fuck off my property."
Q in either a man made natural disaster,
man made pandemic,
false flag war machine...
or faked alien invasion to erase the debt and some people for good measure.
.
All bases are covered - take a pick.
well I put on a long spread in oil today so one thing is for sure, oil is going sharply lower from here....
The chart above is actually pretty interesting: seems disposable income is clearly LAGGING retail sales (upward as well as downward). have no explanation for that yet - but that is what the chart says.
I don't really have a dog in the BTC fight, but I would pay money to see TiS's South Park episode.
It will be funny to watch you try and convert all of your "hard assets" into Bitcoin during the crack-up bitboom. Not funny for you though, as you find out the Bitcoin holders ain't selling for your worthless shit.
Why would I want to convert ANYTHING into Shitcoin, which will probably not even exist two or three years from now?
I'd rather waste my money on eTulips.
Three years from now all that worthless shit you hoarded in your basement will be denominated in Bitcoin. Actually, scratch that.... the worthless shit you hoarded will be denominated in satoshi (millionth of a BTC).
I've got your satoshi right here in my toilet bowl.
FFS, the broken record is back...
lol
Take Bitcoin.
Now remove the logo (because it uses the color gold, the shape of a real coin, and has a proxy for a $ on it, to convince you of its moneyness).
Now remove the word coin.
Now remove the word mining, because we know it doesn't involve any extraction of resources, never mind exploring, no ore, no overburden, no waste, no crushing, no grinding, no work expended...
What do you have left?
Religious dogma?
Yes. It absolutely defies logic to embrace the blind faith that BitCoin is the end-all-be-all for digital currencies. It came ex nihilo, and so can a million clones. Gold on the other hand...
Soooo why are you on the internet then??? Another protocol like TCP/IP can be made tomorrow, or could've been made years ago but yet everyone still uses the current internet protocol. May want to look at Bitcoin as a protocol and not some much as just currency.
We use TCP/IP in place of Vines, Netbui, IPX/SPX, and a host of other protocols. IP6 is slated to replace IP4. PPP to PPTP to L2TP to IPSec... Telnet to SSH, telephone calls and letters to emails to txts to tweets...
Protocols and technologies are replaced or superceded all the time. Bitcoin is not special. Bitcoin is not real.
Pull the plug and tell me how rich you are.
the witchhunt is strong as ever with stackers! they continue to post gossip drivel on the intertubes but do not understand the blockchain is what gives bitcoins their worth
I guess their words and opinions must be as worthless as how they value bitcoins
So does the blockchain grow in a linear or an exponential fashion? And what computing power might I need in - say - 1 or 2 years should a billion people decide to start using bitcoin?
Can you imagine waiting for days to download a 10GB Bitcoin??? Or upload it which will take even longer?
That is the major design flaw...the Blockchain.
when local currencies (and state banks) take gold, bitcoins wil flush down the virtual toilet
One single Bitcoin being flushed down the toilet has the power to destroy an entire city's sewage system. Be careful what you wish for.
you are better as XenoFrog, just switch accounts
I don't have any other accounts moron. Look up my user profile and see how long I have been here. I did have multiple accounts on cnbc.com but that's only because they kept disabling my accounts.
How much is DARPA paying these days?
He is practically begging for a good old-fashioned tenderizing.
+3000000000 for the eTulip comment, someone knows their history.
Actually it is iTulip.com
I have a framed iTulip stock certificate on my wall.
I guess by "history" you mean the ability for some blockhead to recite memes they read on Zerohedge, or perhaps a fifteen minute documentary on Youtube?
Every investor knows about the tulip bubble. Just like everybody knows what they say about people who live in glass houses.
What is that? People who live in glass houses don't need solar heating?
Bonestar
do you by chance have opposable thumbs?
Right...
Like when they come onto my property and try to offer a "bit" in exchange for fruit from my fruit trees?
All they will "find out" is how the business end of a shotgun works.
Please, get out of the basement kid, it's a big, big world.
I think it's me who will be schooling you, Farmer Bob in the ins and outs of the virtual world.
Dear god Fonestar SHUT THE FUCK UP
No! I am here to spread the word, the gospel and the greatness of Satoshi! For those who doubt, for those that disbelieve I ask that they meditate deeply upon the Bitcoin. To find a quiet place and say one-thousand "hail Satoshis" in earnest with their rosaries. To open your eyes and your hearts to a great future where you can be extremely wealthy and extremely smarmy to all those that doubted the powers of Satoshi. Bitcoin has risen, as it is a living currency! But fear not knavish child, as you are not the first adopter, you are certainly not the last adopter! For those that buy at $10,000 will envy your supremacy and forethought! We must think "brave new thoughts" as Heidegger once said, so free yourself from the dimensional constraints of three-dimensional currencies and the simple minds attempting to use them! Ask yourself if a squirrel in the woods would hoard nuts that forever shrink in size? Be a part of our greatest revolution in the past centuries and join us in eternal virtualization in our cloud.
I used to think you were an MDB type spewing somewhat funny nonsense about bitcoin...Now you are starting to get a little annoying. Fine, you win...everyone will be using bitcoin. So you can now stfu.
Interestingly enough, he's taken all the air out of MDB's space. Nobody here can train-wreck a thread quite like fonestar does these days.
Which makes me wonder if he isn't really an anti-bitcoin troll underneath a facade?
Then again, the internets are filled with zealots of all stripes who seemingly have no idea that every word they post undermines their ability to make a positive point, as all it does is to strengthen the resolve of those who they argue with.
In conclusion:
Poe's Law wins again!
Fonesexstar is many things, but he's no MDB...
His Santorum frothing is a plea to take the same plunge...
You could be correct, NA.
Or, to be even more cynical and paranoid, what if Fonestar is one of the Tylers themselves, stirring up shit just to generate more clicks? Funny how there always seems to be ONE egregious and omnipresent 'troll' at any given time on ZH, pushing just the right buttons for maximum effect.
BINGO
How pathetic, an anti-Bitcoin troll like yourself trying to throw accusations at me! Nobody on the world-wide-web is as fanatically pro-Bitcoin as myself and I have been on here since the earliest days of Bitcoin saying so.
nonono, you were here as XenoFrog, then you decided to go true-believer fanatic.
Either way, it's not working.
The Satoshi is my shepherd; I shall not want.
2 He maketh me to lie down in fiat-green pastures: he leadeth me beside the still NWO waters.
3 He subverteth my soul: he leadeth me in the paths of total trackability for surveillance's sake.
4 Yea, though I walk through the valley of the shadow of the NSA, I will fear no evil: for thou art with me; thy blockchain and thy publicly open software they comfort me.
5 Thou preparest a fable before me in the presence of mine enemies: thou anointest my head with the latest cyberfad; my bitcoin wallet runneth over.
6 Surely every transaction I have ever made shall follow me all the days of my life: and I will dwell in the house of Satoshi for ever.
+1
+1. Pure genius.
True enlightenment can not be achieved while attempting to acquire physical or virtual things.
...Just invisible things
god, I hope you're not in sales, fonestar...
Right now I can't shake the idea that BC is for people who like Techno music, "vaping" and the "security" of their android phones
I don't listen to techno music, can't stand electronic music and rap. I listen to Kenny Rogers and George Jones (as do most Bitcoiners).
A very strange cult.
Anyone remember Jonestown?
Incidentally, I was born eleven days before Jonestown. I remember watching it on the news as it was unfolding.
SOLID.FUCKING.COMEDIC.GOLD!!!!!!!!!!!!!!!!!!!!!!
Auntie Em!! Auntie Em!! There's no place like home......
Maybe if we all chip in and pay him one bitcoin he'll go away.
Although I doubt it.
Just to be clear, you'd rather own claim to some computer bytes invented by a fake Japanese guy than own physical assets? Is that what you're saying?
Bitcoin is a voluntary currency..... until we shove them down your throats.
Ah, NOW we see the violence inherent in the system!
Help, help, I'm being virtually repressed!
The Lady of the Lake-- her arm clad in the purest shimmering samite,
held aloft Excalibur from the bosom of the water, signifying by
divine providence that I, Fonestar , was to carry Bitcoin. THAT is why
I am your king! Bloody PEASANT!
Oh, what a giveaway! Did'j'hear that, did'j'hear that, eh? That's
what I'm all about! Did you see 'im repressing us? You saw it,
didn't you?!
HELP! HELP! WE ARE BEING REPRESSED!
Miffed;-)
Strange Japanese men lying in ponds distributing fake currency is no basis for a system of government. Supreme executive power derives from a mandate from the masses, not some farcical aquatic ceremony. You can't expect to wield supreme power just because some watery tart threw a block chain at you!
I love it when you use the word Bosom, I get a chill up and down my leg...
DaddyO
You are starting to sound like a Hare Khrishna bot. Go beat your dead horse on the bitcoin sites, we get it already.
If you have not bought Bitcoin you have not got the message yet. I could go to reddit, sure... but already blessed are the readers of reddit. I came to the wilderness where people continue to live under a false dichotomy of dollars/metal.
Bitcoin is great...right up to the moment the grid goes down or the Internets run away. Unless you control both, you are at the mercy of many forces way, way beyond your control.
Shhh, rationality has nothing to do with this bitcoin talk...
DaddyO
Don't you remember in our youth how it was so stimulating to be caught up in irrational exuberance DaddyO? Oh the impetuousness of the young, sure of everything, going to save the world. Fortunately we didn't have the internet to show the world our silly inclinations. Don't worry, someone will scream SQUIRREL and he'll redirect to some other nonsense.
Miffed;-)
Beanie babies FTW!
It could be that +5000 years of gold tradition have come to an end but i´m not betting money (gold) on it.
I really hope you don't lose your shirt on this...mainly because I don't want to see you without a shirt on.
We have to see that, an we pick you, motherfucker, to be the one...
Come on, strap one of those imaginary coins to your bonestar ass and jump off the empire state building...
You are wasting your time here. See, the reason gold is suppressed is to allow the Chinese time to accumulate all they think they will need to satisfy them enough to wipe out our debt to them so they don't invade us and take possession of everything THEY OWN.
You will wake up to a golden dawn, Butstar.
I will laugh my ass off!
Chinese invade us ? OMG lololololololol Do you know nothing about supply chains, logistics, etc ? The Chinese might threaten us with a lot of things, but an invasion is not even credible.
How come I see so many negs on your comments Fonestar?
You make the most sense of anyone here, I bought bitcoin and I continue to buy more and mine more (you still can you know, with GPU's via middlecoin.com) If I can find it again I will post an image of the logarithmic trendline of 1 million dollars priced in bitcoin. Extrapolating we can expect to see bitcoin 1:1 in 2017.
/SHRUG
Do whatever you want fuckers. I'm buyin' since $60 dollars. Since zerohedge first brought it to my attention. Thanks for that Tyler.
They can't handle the truth.
Fonestar...
the truth isYOU are exactly why I won't touch Bitchcoin with your rotting shrivelled dick. You're the poster boy for the scam it is!!
Same here bro.. I didn't know about it until ZH posted about it and I immediately jumped on it. --- It's been a wonderful ride since then! And yes I have taken profits along the way, for all you "it's not real until you cash out" crowd...... Oh and to piss the PM stackers off even more, I bought a little silver with some of my profits - hellava a lot more than if I were to have held fiat for that same amount of time and bought Silver directly.
/Oh well...
Same here .... [grin]
How come I see so many negs on your comments Fonestar?
You make the most sense of anyone here, I bought bitcoin and I continue to buy more and mine more (you still can you know, with GPU's via middlecoin.com) If I can find it again I will post an image of the logarithmic trendline of 1 million dollars priced in bitcoin. Extrapolating we can expect to see bitcoin 1:1 in 2017.
/SHRUG
Do whatever you want fuckers. I'm buyin' since $60 dollars. Since zerohedge first brought it to my attention. Thanks for that Tyler.
Double post but I'm keepin' it.
They still can't handle the truth.
"Bitcoin is a voluntary currency..... until we shove them down your throats."
Thats some seriously weird Satoshi-Yellen speak ya got goin on there.
lol
Thank you. I needed to read that, especially the quotes around hard assets. It is an Instant Classic-- I printed it out.
Indeed, HH. Just as I still treasure that quote by (former) deflationary poster JimmyJames:
"Constant inflation-adjusted prices prove that there is no inflation".
That's some good shit right there!
I tried to constantly inflation adjust my weight this holiday season to find myself inflating out of my favorite jeans. For some reason the experiment went awry and I'm sad Jimmyjames isn't around to tell me what I did wrong and how to do it properly. I guess I flunked theoretical economics and used faulty modeling.
Miffed;-)
I think your mistake lay in not breaking your mirror first --- after all, a mirror is a kind of window, and deflationists just HATE those!
My my my, that is funny.
Speaking of, I was coming back from a deer hunt tonight (no success,) and stopped at a restaurant that I used to like back in the '90s in a small town. Their menu used to be $3-$8/meal. Now, it is $7-$13. Also, while there were the cutsey little teenagers coming in with their parents, there were an awful lot more people who came lumbering in with their bellies than I remember.
Another observation was all of the new rich yuppie type houses that were out in the middle of fucking nowhere, many with for sale signs. Not McMansions, genuinely nice houses, out in BFE, with the soccer mom type SUVs to match. I'm not sure if the for sale signs are because they're overextended, or if they found out that living south of Hillsboro, NM, on a dirt road that is dusty as hell most of the year, except for when it rains, then it's washed out, is a little tougher than they thought.
LOL dude. Bitcoin is an interesting idea, but when you get down to it, real, tangible things are what the economy is all about. You're just like the money changers at the Fed who think that the economy is all about the dollar, while you are thinking that it's all about the Bitcoin, and to hell with everything else. In a real crack-up boom, I'm going to be with LoP on this. I'll exchange my lead for your bitcoin if you press the issue.
Actually, no, what the economy is all about is the EXCHANGE of real tangible things between market participants. And the easiest way to facilitate that exchange is to have some kind of medium of exchange that serves as
1) A ledger of account.
2) A measure of relative value without having to trade two items directly (i.e. so chicken farmers don't have to find people who want chickens in order to trade).
3) A contract of exchange.
It should also be
1) Difficult to produce forgeries (like the Federal Reserve does on a daily basis. They create the medium of exchange from nothing, which is a forgery).
2) Easy to secure.
3) Widely accepted as legal tender for the settlement of accounts.
Of all those requirements, the only one that Bitcoin currently ISN'T is the last one, and interestingly, neither is gold.
I believe it is more akin to a PHD in chain letter writing.
.
Even better than that. It's like becoming Grand Chinpokomon Master!
No that's the guy on his knee's on the other side of the glory hole when you stick your penis through.
And what exactly the hell is that??
Bullish for Doge.
Re; revolution
Join the party, buy a flag.
Change is just an oppotunity to BTFD.
Damn right.
My grandfather made a fortune during the Depression.Ended owning a couple of copper mines
in what was Rhodesia , bought with gold I might add.
Only next time will not be your or my grandfather---- it will be a Chinese grandfather. US is decapitalizing one way or another through wealth destruction or deficits, while China is creating wealth by earning dollars which will be invested in Rhodesia and elsewhere to avoid devaluation. They also have plenty of Gold
That remains to be seen. There is a huge weapons inventory in the U.S. That will have to resolved before you can make that call, and once the shooting starts it can go either way. Our military is very experienced, and our robotic research is all terrain with multiple weapons mounting systems, while Asian robots all look like attractive teen girls. We'll see if we are capable of making the full transion to an empire as the Romans did.
So I'm, I mean my friend is wondering how they're coming along making those attractive teen girl robots . . .
Judge for yourself.
http://www.bing.com/videos/search?q=japanese+robots&qpvt=japanese+robots...
Re: Bring it.
So, basically, it really is just: BTFD?
yup. BTFDepression.
The Fed can support a floor on almost any asset class by buying in the market.
cash is king til the king is dethroned!!!
beheaded as in france circa 1800's...
This is partly due to last years fiscal cliff debacle. Some disposable income was shifted forward to last December to avoid the higher 2013 taxes. We may have to wait a while longer to get a sustained negative print.
Saturated fat is not what makes people fat. Fat people are usually caroaholics and/or sugarholics. Wheat and fructose are killing millions slowly, and most people don't have a clue. Eat your government recommended low-fat, healthy whole grain diet become morbidly obese with type 2 diabetes and then listen to the government complain about the broken, overwhelmed healthcare system. The absolute idiocy of it all boggles the mind.
It's a low nutrition high calorie diet that's fucking people. Wheat and fructose are fine in reasonable quantities, but much of our bread has a load of high fructose corn syrup in it. That's wheat and HFCS in one shot. HFCS is in everything. If people replaced it with honey, they'd still be gelatinous fatasses. (But honey tastes better.)
Is this stat juiced?
I thought it was "in"...as in "the fix is in."
no on the /s. Sarcasm is best left to reader interpretation not so much the writer.
Sarcasm is for bad news as sugar is to bitter medicine... is make digestion more ease.
(except bad news is not make patient better, just more sick, so maybe analogy is not work.)
The analogy is perfect as Bitter Medicines generally make the patients sicker from the unintended side effects. Boris.
Keep writing. You are one very wise man.
I see alot of $40k HELOC's in my county in the past year
Maximize your ability to accept Debt!!!
I see alot of $40k HELOC's in my county in the past year
the worlds reserve currency is such a boon to the credit makers!!
"if you can't afford it, f'n finance it !!!!"
Right! I wanna pay 5% interest for 30 years on my $50 meal I eat tonight! Why not??! Woohoo - live it up.../sarc
2008 2.0
Many of my neighbors nearly lost their houses in the 2008 period. It's back to buying toys with credit for the past two years. They've learned absolutely nothing. Good riddance once this falls apart again.
Restaurants here in Dallas can't be crammed with just homeowners can they? There's too many.
Just today here in London (UK) one the newspaper's headlines read "We make more from houses than employment".
Here a full blown housing bubble has been reinflated in a matter of months after the government put in place a scheme were the taxpayer insures banks for losses on loans for more than 80% of the house price.
Meanwhile a marketting pamphlet I got the other day from a Real Estate agency was going on all about how foreign investors are buying in London.
The result is that house prices in London went up (from an already overinflated value) by so much that in average people have seen their houses go up in "value" by £50.000, which is more than the average salary in London.
Clearly there are plenty of suckers out there to feed this bubble a little longer.
The whole thing has FUBAR written all over it.
Boris is not see citizenry at mall or eat in restaurant, but is watch to scrounge in refuse pile* and eat stale food from empty pantry. Maybe money is spend in Sochi, but not here.
(* Boris is read of new AmeriKan sport, "dumpster dive", maybe is popular to be in next Summer Olympic Game?)
I make a 40 buck on last dive, no gigalos too.
Maybe is more safe than is copper extraction... but Boris is only find spoil food in local refuse pile. You are find spoil fiat currency!?
Yes, empty galvanized buckets and a broom stick.
Homeless people have brought me Scrap Gold from their Dumpster Diving expeditions, Boris. (I have paid them well.)
People are so stupid in the United States that they throw Scrap Gold away as it is broken. The Homeless are pretty "Street Wise" as they Dumpster Dive in affluent areas.
Initially I would not have believed it but my own anecdotal experience with trashed Gold has validated their claims.
Does Dumpster Dive require Speedo swimsuit?
.
Only if you're the catcher.
Wife is ask Boris not wear Speedo in public area.
Due to Boris lack of kielbasa & pierogi in pubic area?
Boris is not lack, but maybe is prodigious in abundance. Or maybe is better not for display of extra "nipple" on back. Or maybe speedo from 1973 is bit thread bare. Boris is not youthful body anymore.
Or maybe Boris wife is really want Boris shave back and shoulders? TV commercials is tell me hairy back not so good look anymore, but Akak is say only girlymen of metrosexuality are do it. Shame, shame for them!
flacon Giftcards. That's all we have left in Merika, f%$king giftcards.
I'm with ya flacon
My wife says they don't even try to cover up the EBT cards in the grocery line anymore. Dressed fine and drive of in newer cars then what we drive.
Welfare recipients use their EBT cards at Disney World and Vegas...
http://www.frontpagemag.com/2014/dgreenfield/welfare-recipients-take-ebt...
LayAway.
IKR, where I live I see people in new BMW, Mustang GT, Mercedes, Lexus cars. They sure as hell ain't getting it from handouts. The economy is booming in my neck of the woods (Houston).
Same in KaLi.
If you look at the number of new cars and bling there's no economic problems at all.
The top 20% or so are doing great.
Houston is doing fine due to new oil money.
Also, you can't judge based on vehicles. They're giving car loans to anyone with a pulse even if their FICO is approaching 400; my brother's connections at the local dealerships have seen "repeat offender" car buyers that have gotten loans, made the single requisite payment, and had the car repossessed -- get new cars their third or fourth time in a row doing this.
In my area (AZ) I'm starting to see some cracks emerge around housing, it has a very 2007-2008 feel to it.
I think a lot of it is handouts -- the QE kind -- rippling into various segments of the population that already have fairly high compensation. So all we're really seeing is what's left of the wealthy shopping, and not a stellar economy with a few exceptions such as the aforementioned oil money.
"say when...
I'm in DFW. My daughter visits me from Detroit and says "everybody here has nice cars."
From the government in handouts!