This page has been archived and commenting is disabled.
Saxo's Steen Jakobsen Blasts "The Market's So Complacent, I Want To Scream"
We've largely ignored geo-political risks, ignored a slowdown in European growth, ignored the fact that Germany is deteriorating fast while increasing the amount of risk we take. That's the view of Saxo Bank's Steen Jakobsen who exclaims in this brief clip that "the market is so one sided and complacent," he feels a need to scream. Steen is urging traders and investors to take a serious reality check, pointing out that this decline is illustrated perfectly well on fixed income markets.
German yields have fallen to record lows and there's now a move towards safe haven assets.
In recent weeks, we've seen an increase in global risks, not least with Russia and Ukraine and in the Middle East.
On Thursday, President Obama authorized the use of airstrikes over Iraq.
Steen tells investors not to panic.
»
- 8776 reads
- Printer-friendly version
- Send to friend
- advertisements -
It is all these doubters that will send the market higher!
When they believe - then run!
Exactly. He should just BTFD and shut up.
I second both of you guys! this guy keeps talking scaring tactics for so long now ...
also, this guy's tactic might be to scare the shit out of everybody and he with his crew can pick up all the bargains...he might be the frontman.
All three of you are fucking idiots!
But thanks for letting us know it.
Cause the ""market"" won't be complacent for long when Russia invades Ukraine and oil spikes $50/bbl overnight
It's all like watching a train crash in slow motion while you remain at normal motion with no way to stop the train.
The "train wreck" has been going on for fifty years...it will continue for another fifty. It s like going back to a bar that you used to hang out with BUT got bored of the people having the same conversations and then showing up again and seeing teh same people spewing the same shit. The nature of people is desire simplicty and peace and this isn't ever going to be our world.
yes, creating a buying opportunity...
Shut the fuck up Jakobsen.
Everybody knows the score. There is no choice for yield. The Fed is making sure of that.
Taper is just a trial balloon. Until the hyper-inflation crack up boom and bust......either you're in or not making any money.
Complacency is just acknowledgement.
Steen Jakobsen does make a compelling argument here.
"However, he's predicted for a long time that in the second half of 2014 we would see a 25 to 30 percent correction from the top and that growth would slow dramatically."
Stop it, I'm getting all misty.
He's only predicting it because he is begging for it because the banks are quickly realizing they don't need about 80% of their employees.
That's what is so awesome about cnbc/bloomberg website's. The 1996 stock photo's of traders staring at a computer looking concerned when the dow falls 20 points.
That "second half of 2014" magical growth they've all been predicting all the while beating the drums of war because they know there'd never be any growth.
It's all Putin's fault they will say. The narrative is already set in stone and history books have been printed with that mantra.
Somebody please explain what is the corrolation between the Nikkei sell off and the DOW rallys that follow and vise versa? Is it reverse repo?
It's reverse something, all right.
lol. thats so funny. he called this a "market". thats his biggest problem. he cant understand its not a market. its a fed sponsored ponzi. unlike any in history.
Welcome to Zerohedge, hands you a bullhorn
I haven't seen anything like this in decades. Some days I'm pissed and other days make snark comments. Thanks for your honest view Steen.
That guy is anything but honest. Moar likely he is soon to be unemployed.
If you dig a little, you can find spot on predictions he made. Don't take one video as a grain of salt.
Remain calm, all is well! Moar stawks!
https://www.youtube.com/watch?v=zDAmPIq29ro
Is now the time to cost average on my CYNK?
I would. There has never been a better time to buy stawks.
Juncker new EU President: When things get serious you have to lie. This idiot is officialy leading EU now.
A lack of european purchasing power since the start of the euro experiment in the 50s/60s has caused massive real inflation around the globe as capital goods ,services , the lot is dumped on other markets
The physical world built around this monetary matrix is no longer suitable - it can no longer preform the production , distribution and consumption function.
Germany is the poster boy for this banking / corporate monster.
We are witnessing a epic failure of the entire Industrial system as each country has embarked on a absurd level of specialization in this scarce money /easy credit glasshouse they call the earth.
Germans dump cars on other markets
The french dump wine.
The Filopinos dump wives and nurses.
And so it goes on and on.
The trade system is not fit for purpose.
It cannot service basic demand needs.
This is but a distribution day to the bagholders...
Not complacency, CB controlled.
Controlled yes, crooked and manipulated to benefit the banks and their cronies, definitely yes.
No one believes the market is a market. It is simply a tool for wealth redistribution used by the banks. Who need that B/S, especially when you are one of those the banks want to steal from?
Exactly!
Thank all your buddies there Steen!
Where is this "market" he speaks of...?
Please, as others point out, and this shill knows, there is no public market that allows for true price discovery.
The New York Yimes gives lessons to France on health fascism.
"While I am somewhat sanguine about the fall in consumption in the European countries, other changes, particularly in France, are disturbing. Historically, wine has always been considered part of the French cultural heritage. More and more in the last 15 years, this has changed, to the point that government officials often lump in wine with other alcoholic beverages as a threat to public health."
"The French crackdown on drunken driving has resulted in even a couple of glasses of wine with dinner threatening the legal limit. Beyond that, a neo-prohibitionist attitude looms over even ordinary discourse about wine. France is currently debating raising taxes on wine and restricting wine discussions and advertising on social media and the web. Health officials say the intent is to combat rising alcoholism. The wine trade contends that alcoholism is more a result of increased consumption of spirits and binge drinking.
We’ve learned a great deal from the French about the pleasures of life. Now they are learning from us about the policing of it. "
http://www.nytimes.com/2013/11/27/dining/in-wine-drinking-europe-and-america-trade-places.html?_r=0
"Partly, this is because everybody’s world has become so much bigger. About 50 to 75 years ago, most Europeans outside of big cities drank only the local wine. It was all that was available. You bought a barrel for the year, or refilled your demijohn at the local cooperative.
Even 10 years ago on a trip to Campania, I met wine consultants who knew nothing of Barolo. Why should they? They were from Campania! Such narrowness would be unthinkable today."
The quality of the produce has increased but you don't have the tokens to buy it as the costs of current trade practices has been socialized.
This is known as capitalistic overproduction which causes a total breakdown of local trade.
Too bad, it's a Federal Reserve controlled market, they have the lever set to full bullishness.