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Just 12 WTF Charts
Sometimes you just have to sit back, look at some charts, and say WTF...
Carry Trade
1. SPX vs USDJPY
2. SPX vs US Treasuries
3. SPX vs US Term Structure
Fun-durr-mentals
4. SPX vs Fwd EBITDA Expectations (bottom-up)
5. SPX vs US Macro (top-down)
6. SPX vs Jobless Claims (so long held as supportive of the recovery)
7. SPX vs Lumber (the housing pillar is cracking)
Risk Assets
8. SPX vs High Yield Credit
9. SPX vs China's Shanghai Composite Equity Index
10. SPX vs Japan's Nikkei 225 Equity Index
11. SPX vs Emerging Market Bonds
12. SPX vs Emerging Market FX
Of course, there are those who see these charts and through no self-referential cognitive-dissonance of their own (well in fact entirely for that status quo engendering reason) will proclaim... that proves it - US is cleanest dirty shirt and money is flooding back to 'safety' - however - that is entirely disingenuous...
The ironists among market punters will even attempt to construe all this as a reason to buy more developed world stocks on the premise that the money flooding out of such places as Thailand, the Ukraine, Turkey, and Argentina will be parked in the S&P and the DAX (perhaps overlooking the fact that the purchase price of these now-unwanted positions was most likely borrowed, meaning that their liquidation will also extinguish the associated credit, not re-allocate it).
The Goldilocks lovers will also tend to assume that any such disruption will serve to delay the onset of genuine tightening and may even induce further ill-advised stimulus measures on the part of the major central banks. Certainly Madame Christine Defarge – that tax-sheltered tricoteuse who knits beside the guillotine set up for the hated bourgeoisie – has already begun to militate for such a response.
For their part, the biddable are already trying to drown out the noise of the Cacerolazo by making the fatuous argument that the EMs account for such a piffling portion of world GDP that their fate should be a matter of complete indifference to the rest of us. Needless to say this is a touch disingenuous at best. Their share of end consumption-biased GDP may be lower, but they account for an equivalent fraction, if not a small majority, of global industrial production – and they have been responsible for an even bigger proportion of its growth this past decade. Ditto for trade and ditto for resource use.
Bonus
13. SPX vs The Federal Reserve Balance Sheet - The Truth
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Every chart analog eventually breaks down.
Even the Fed balance sheet vs S&P one. Guaranteed certainty.
It all looks like a House of Cards. And House of Cards, how apropos, a blow hard awful show, of an awful government, of directionless country wrapped in a tomb of money printing bull shit. Sheep lapping it all up because, as bad as it all is, it's the best shirt etc. Time to check my Faceplant. and tweet about TV and sports.
Long Fed Balance Sheet.
I spent all day marvelling at the stupidity of humankind; a few charts ain't gonna hurt, and at least the stupidity is organized.
DMV??
HS Sports event??
President's Day Mattress Sale??
Family reunion??
Legalized wealth robbing from poor nations to wealthy nations.
The missing chart is Jamie Dimon's bank account correlated against the balance sheet of the US Federal Reserve. That one looks like like an F-18 Hornet doing mach 2 and heading for Neptune.
#1 dumb ass award ......off topic.... but must note my Australian treasurer Hockey for stating outside the closed door G20 finance meeting being held today:
"I don't think I'm giving away any confidences by saying that the finance minister of China pointed out they had undertaken some structural reform last year in China where 13 million jobs were created," he said.
"I responded by saying it's taken us 200 years to create 13 million jobs."
http://au.finance.yahoo.com/news/joe-hockey-praises-china-job-020455784....
Almost passed this up thinking you were talking about the dismal performance of the U.S. Hockey Team in the OLX, who could be beaten by the Mighty Ducks, with 2 in the penalty box.
Mind the gaps.
Not to sound stupid, but, I think it's all going to shit.
There's a lot of debt on the sidelines.
"I see debt, people".
Took me a minute. That's comedy brotha ...
WIPP Plutonium Leak to Kill at Least 32,700 Americans
Let me hit you point blank with the highlights of WIPP.
Using the data already released, the Plutonium released can kill 32,700 Americans
The amount in air is at least 810 TIMES BACKGROUND
————————————————————————————-
http://www.epa.gov/radnet/docs/erd/erd104.pdf
Above is the background level of Plutonium and Uranium in Air from the EPA.
The WIPP Plutonium storage site, in collapsing and corrosive salt caves, had a significant release, which the experts said was "far below any level of concern". They lied through their teeth.
They tried to pretend that the human health hazard of Plutonium was only 100% from the ionizing radiation, and then used "radiation only" guidelines for whether the EPA would consider it an "action level". In fact Plutonium's real killing power if from it being an unnatural heavy metal, with radiation as a "bonus".
Therefore, when the scientists state that the amount detected is far below EPA action levels, they are lying through their teeth.
Data and calculations are here. Spread the word
http://nukeprofessional.blogspot.com/2014/02/wipp-plutonium-leak-to-kill-at-least.html
Please take your shitty comments to shtfplan.com or theeconomiccollapseblog.com where they will be widely admired.
32winmag ... Exactly who recently died in the Obama administration and made you information czar? Or are you taking your cue from the FCC and deciding for us all what we can read? Go fk yrslf.
LOL, come on Mark, really? HE is just telling the guy that the info he is presenting is disingenouos, at best. All the little liberal lemmings do need to be put in their place every now and then. BTW, the Oblahblah admin has no information, period, that I would want to hear anyway. I do applaud your condemnation of the FCC tho...
You are missing the point entirely. That bonehead hadn't even read the article. He wasn't promoting anything of value or knowledge, just taking a pot shot.
As are you also. You think that anti nuke activism is "liberal", perhap becuase you saw a link to an EPA site? The EPA site is a list of background radiation, used to make the anti nuke point that what is now detected is
880 times higher than background. Pay fucking attention! You mindlessly categorize an attack a solid independent news source because you saw the word EPA.
Wake the fuck up. Ye be sheeple in your own quick ignorance.
Fair enough, but where are all of these deaths? Please enlighten?
f you bitch. This is original research and calculations for the public good. This is now, nohypothetical
Steve077, thanks for the link, but you see I, for one, trust the EPA as much as a liar, or a theif, which means I don't trust much of what they write or say.
As you can see at the top of every ZH page...we all will die someday, please do quit the fear mongering. You are much more likely to die of something else, like a car accident, or from clogged arteries, or a shark.
The EPA is a propoganda machine, slowly trying to kill America economically, the communists are here and they are much more deadly than anything else...something along the lines of 120 million lives have been lost due to "social justice". This report is from the year 2000, so where are all of the deaths from this poisoning, mate?
PS: Global cooling, no, global warming, no climate change...they really do need to make up their minds. There is a little disk in the sky, that affects our weather, much more than humans do. Not to mention volcanos, and other naturally occurring things, like methane leaking from the oceans.
Chew on that for a while.
Dude these are facts, not fear mongering.
The out of control financial and political system are starting to make EVEN WORSE decisions, that will affect us greatly, in our lives. not to mention that little embarrasing thing about wiping about the human genome.....
family member high up in epa, "the fix is in" is the response I got to a real question. epa is controlled totally.
We need relevant graphs. Something like graphing Mexican tortilla production against the number of Romanian lap dancers in Liverpool, UK, would be a good start.
Here in the US we measure the rate of growth of Burittos vs GNP
By the way, Buritto means small donkey.......
One more time - Dont Fight The Fed !
Robotrader was right.
Yeah, when he chose his avatar ...
That's why Soros short the SPX ;) In respect to this charts it's a self fulfilling prophecy ;) But it's just another buble which pops.
The stock, bond, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.
The markets continue to rise till all short positions in the market are covered and the majority of traders move to the long side. Once this is done the market falls till all long positions are closed and short positions undertaken. Then rinse and repeat. The price mechanism has little to do with the actual demand, supply, fundamentals or state of the economy.
www.marketoracle.co.uk/Article40231.html
Let me hit you point blank with the highlights of WIPP.
Using the data already released, the Plutonium released can kill 32,700 Americans
The amount in air is at least 810 TIMES BACKGROUND
And those numbers above are VERY conservative. First, they use the "reported" data from the nuclear cartel. Second, they assume that all of the nuclear spewage stayed in the area around the vent for 33 hours, and NONE of it blew away in the wind. Definitely the wind carried away the plume, therefore these numbers about are VERY LOWBALL. They can easily be 10 to 50 times higher.
AND this crumbly salt mine was never supposed to hold any high level plutonium waste, it was only for old wipe down rags. But some rocket scientist nuke pimp who was trying to "prove" how high level waste can be stored underground, in order to promote Yucca mountain, lobbied for the high level plutonium to be put into WIPP. So for a PR trick for Yucca, they allowed a very dangerous action to happen, and now it has blown up in all of our faces.
We Deserve Better
http://nukeprofessional.blogspot.com/2014/02/wipp-plutonium-leak-to-kill-at-least.html
look, very little is accidental.
Interesting! What stikes me the most in the yen and Japan. Both are major players, meaning their impact on the world ecomomy is substantial. I contend its only a matter of time before the yen becomes worthless. Japan is the most indebted developed country in the world and its future prospects are dim and getting worse. If inflation begins to take root it will place upward pressure on Japanese bond yields and raise the cost of government to service its massive debt.
With the BOJ set to absorb half of the government bonds planned for sale this fiscal year, domestic investors have already started venturing overseas for higher yielding assets. If this turns in to a tsunami of money fleeing Japan it will constitute the end of the line for those holding both JGBs and the yen. This money flow might be the fuel saving the American stock market and bonds. More on this subject below,
http://brucewilds.blogspot.com/2013/08/japans-economy-going-forward.htmi
I was doing a bit of work on why we are hearing such claims about the UK having such a strong economic run. Below is an acticle I just finished with my findings,
http://brucewilds.blogspot.com/2014/02/uk-economy-flood-of-questions.html
It now appears much of the recent strength comes from the fact that thousands of Britons are receiving compensation for Payment Protection Insurance (PPI). Most Americans reading about the pickup in Britain's economy never even heard of the PPI. The total paid out so far, £13.3bn or about 22 billion American dollars has been a huge economic boost.
Nice work ZH. Lot of goodies for articles and excellent commentary. A big thanks to all contributors. Time is the only commodity that can't be bought. There are a intelligent caring people here.
+1 Agree. The thread "Is this when the FED decided to go all in?", also brought out some of the best in ZH'ers - I think Friday night.
Sorry, Time is bought/sold when you work for Wages.
You can ask any beaver, wood (lumber) is manipulated.
Tylers - please can you stop showing these charts until I can TP @ 1900? :)
Ukraine, Syria And Global De-Dollarization: USD To Go Down And Gold Up
http://sufiy.blogspot.co.uk/2014/02/ukraine-syria-and-global-de.html#
Ahem, dare I say it things aren't looking that bad.
http://ftalphaville.ft.com/2014/02/21/1778482/this-isnt-nuts-wheres-the-...
Interruption not inflection, says BoAML’s Michael Hartnett, who sees the beginning not the end of the fun.
With the insouciance of a man lightly tapping the drum he has comfortably worn for years, Mr Hartnett has a few facts about the US outlook he would like to draw to your attention.
And it’s true, lending to small business is positive for the first time since the crisis — although nowhere near the level of the boom days of 2006 when credit expanded by more than a fifth.
Which reminds us of conversations we’ve had with investors recently that suggest the bull capitulation inflows are still to come. A not-insubstantial number of people rode the recovery trade of 2009 and 2010, but then lost their nerve in 2011. It has been very easy to be nervous since, what with all the quantitative easing, Europe fragility, bearmaggedon sentiment around, but then stock markets keep on going up…