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"Stocks Are More Crash-Prone Than Ever," Fleckenstein Slams "Fed's Idiot Policies"
Infamous short-seller Bill Fleckenstein left a CNBC anchor questioning her faith in the status quo in this brief interview. As she pestered him with questions about 'missing out on the rally', Fleckenstein snapped back "so what? I don't care, it doesn't matter" asking rhetorically "when the market declines, how fast will it all be taken away from you?" Fleckenstein warned "I don't think we will get through October without some accident," adding that "the stock market is more crash-prone than ever." When pressed again about sitting on the sidelines, Fleckenstein rebukes, "if you want to pursue idiots like the Fed doing crazy policies, and if you think you can get out in time, go for it. I don't want to try to do that."
As CNBC notes, some traders might regret missing out on what may go down in history books as the bull market of a lifetime, but "I'm not kicking myself," he said. "I don't care, it doesn't matter."
"I don't have to play every day," he added.
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Money Honeys...only good with the sound off
Stupid. Didn't articulate himself properly, and therefore sheeple buy further into the rot that spews out of CNBC. Don't let those idiots get you flustered. That's all they have!
Priceless.
How much money have Bill's views cost him since 2008 and how much more will they cost him before collapse?
Poor Fleck, getting ambushed and trapped by CNBC and their horde of dicks they allow on. Fleck's fund is like a poor man's hedge fund...he and Charles Biderman at Trimtabs are like the Jewish kids in school that gets made fun of by the richer Jews....but i respect him for sticking to his guns and for not changing his hairstyle all these years...and hes right about the Fed.
Yawn. Time for an updated count of NFL wife beatings. Hey they find that missing plane yet?
And yet, my stack grows!
BitCoin is more Crash-Prone than ever:
http://www.kitco.com/finance/bitcoin/
Housing more crash prone then ever:
Trump Soho Heads to Foreclosure Due to Unsellable CondosWhen more than two-thirds of a building's units languish on the market, that's never a good sign, and the Trump Soho has sold less than a third of its 391 condo-hotel units. Now the Journal reports that the development's lender, CIM Group, is taking control of the building through a foreclosure ....
http://ny.curbed.com/archives/2014/09/17/trump_soho_heads_to_foreclosure...
The Fed will use a variant of the Martingale strategy to keep the market moving upwards (with their unlimited bottomless pockets of cash) until food price inflation destabilizes the world and countries begin to war over resources.
It is already beginning. It will accelerate as the Fed continues to double down.
The Fed will flee in the night as the world burns. The blame for the chaos will be assigned to some BS boogeyman, when in reality the cause was the fundamental debasement of the world economy via profligate and wildly irresponsible money printing.
"Home prices are likely to drop further in coming months as developers need to offer deeper price cuts to attract home buyers to enter the market," said Lin Bo, vice-head of research at China Real Estate Information Corp, a property data provider, in Shanghai.
http://www.reuters.com/article/2014/09/18/us-china-property-prices-idUSK...
The downward momentum is picking up speed as more people realize how overpriced RE is and despite the meager savings yield, it's much better then getting whacked with a 40-60% loss in RE + a seriously illiquid asset. I remember how friggin hard it was to sell my Dad's house ... add that to the realtors BS [and hefty commissions] and it was mucho stressful. Plus, even the Chinese are becoming uber-mobile and realize being tied down to one locale may not be so hot.
The next crisis will be caused the same way as the last crisis. By the government.
http://www.planbeconomics.com/2014/09/how-much-does-the-us-government-sp...
Bill is right and for all the right reasons but his timing has always been wrong.
I will never forget Joe Battapaglia almost making him cry on CNBC in 1999 when he asked Bill how it felt being short tech.
I'd rather make money than be right.
The market can stay irrational longer than most can stay liquid. This time around, the market may not ever go down, just freeze for a few seconds between QE's.
"You can avoid reality, but you cannot avoid the consequences of avoiding reality.”
Pardon my language, but fuck those announcers. They don't have much skin in the game, but talk like they are the big players.
I don't understand the article. The Fed is the only thing supporting this ungodly bubble. Of course stocks will crash if Yellen takes the cocaine away. That's a moot point. Am I too obtuse to understand the point being made?
objective journalism is not associated with cnbc, not since mark got fed up and killed himself in his tomato garden. too bad these two dont have the guts to join him. they have never traded for a living, bill has, all the rest is yelling.
the only point where this ends is when the rothschilds of this world start to go 'fucknell the volatility of prices between assett classes is too much to handle even with QE4eva. Sorry Yellen, yer gonna hafta full speed reverse'
Ya gotta love the sweaty gumba suggesting buying the VIX as protection. Funny he didn't mention his losses on that adventure. How has that trade worked out for ya over the last few years, dumbass? Whatever. I still have no idea why these guys subject themselves to getting grilled by an affirmative action/PC journalism major and a couple of network paid scumbag day traders.
That sh!t coin crap is still around?.huh..I thought it died out with foamstar years ago?..
fonestar had a point. The saaaaaaaaaaaaaaaaaaaaaame fucking one he made every post every topic every f'n day
Bob, you're feigning disinterest on here each and every day with all that 'yawning' going on - it's hilarious!
Gads, one could scarcely be more interested than someone like yourself...feverishly buying gold and silver, then frustrated as the dollar strengthens and your 'stack' is worth less today than yesterday.
Good times!
Plad / Divided,
That Fed induced trance has you idiots slobbering all over yourselves. The Fed action is, has been, and will always be pure chicannery. You want to cheerlead that shit?? And no one cares that your 30,000 401K is back to par.
Wait, CNBC is still on the air?
Uh - Fleck's not Jewish - he has made that point numerous times.
Dude - you are talking out of your ass. But at least you got the main point that he's right about the Fed.
The uneducated anti-Jew jackals on this site get a boner anytime they hear any name ending in "stein", not realizing the root of the name is German. But what can you expect from low class white aryan power fuckheads?
Bill is not Jewish, fuckhead.
You obviously were the Dunning-Kruger kid in school. You thought you were oh so smart but actually you're a retard.
Pladizow,
Read a while back that Michael Burry, hope I am saying his name right, was raising money to cover his short trades.
Many will be broken before collapse, especially if it doesn't happen before Obama leaves office.
It sure won't happen 'soon' with a new administration in the oval office.
i recall Burry. l cant find the link but last year he was asked to give a speech to his university's graduation ceremony. My gawd did he stick it to the govt for a) ignoring his warnings, and then b) investigating him via 3 separate agencies for being one of the only winners of the 2008 crash, punishing him for his almost solitary correct analysis
that speech for me was the clearest reason ive seen why america is in decline. America was created and prospered when the smartest guys were the guys in the club. Nowadays, its only the guys in the club who are in the club, no matter how dumb. anyone else is iether expendable or a threat
Squid-puppets a...
I remember that speech and that he said about $1 million dollars in fine he had to pay.
I gave a quick Google search and he was raising money in 2013. So looks like he is hurting because he said he wasn't raising money anymore. Wonder if he sold some of his farmland.
Anyway, I think the collapse can be postponed until, say 2016.
The day after election day, 2016, to be exact.
NO!
If it didn't happen by election, it won't happen for a while thereafter, because the new President is on board with the policies.
However, ekm1 last night raised an interesting point: "Most money printing is going to financial power and less to the military industrial complex."
So, it looks like that, there will be even less money for the real economy at the next administration.
You know what's great about this whole argument is that we heard the same shit on both sides in '07. Now lot's of folks did great up to the collapse but I know very few that were giant balled bulls who didn't take a fucking shit bath during the end of that. Essentially gave it all back and then some. But worse is not the fucking morons on either side talking shit constantly it is the regular people who are retired or retiring who have been forced into the market because of zero interest on savings who lose everything during these collapses. Now some will argue they got it all back if they just stayed in man. Well to you sir, I say go fuck yourself. At 75 years old living on savings, one needs not to explore the bowels of stupidity even if one ultimately gets shit back out into the light. Do you get that? This fucking rollercoaster ride of boom and bust is insanity. Very few do get very wealthy as a result. But the vast majority suffer a great deal of hardship (personal as well as monetary) and if your last years were from 2008 to 2010 well then you didn't get a chance to "just stay in and get it all back man" you fucking crininals. What the Fed is doing is honestly nothing short of criminal. Even in the sense that market manipulation is ILFUCKINGLEGAL. GOT ME JACK??
10/10. Outstanding.
BIHM,
Markets?.... Wow!
How you internalize your nostalgia, it tells us that you never really understood and, that you believe your own propaganda.
Let me show you how your savings were built.
“I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912. I helped make Haiti and Cuba a decent place for City Bank boys to collect revenues in. I helped make Mexico, especially Tampico, safe for American oil interests in 1914. I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested. War is a racket. It is the only one in which the profits are reckoned in dollars and the losses in lives.” -- Smedley Butler
So, sorry to strike in the heart of your ideology, that your “Left” or “Right” ideal world, are neither!
Umm, nothing, it does not cost a penny to walk by a lottery vending machine, slot machine or a carnival barker you boob.
Fortunately, unlike yourself, Bill is not a budding (nor card carrying member) of the Pinko Commies Fascist Club!
how could he articulate anything with that bitch cutting him off and yelling over him with that "you missed out shit..."
he said what needed to be said - that being the MoneyChangers r idiots - just left out the sociopath part...
Yelling over people is all they ever do. Definitely should have known that going in. Ending with "I don't care" (all though dead on point) is out with a whimper and not a bang. Why not call into question the surely wonderful track record of the blithering idiots? "I don't care" seems like he has no ammo, but we all know there is fucking nuclear arsenal to be dropped.
Sigh.
On a professional level, he could have easily pointed out that central banks are printing money and now directly intervening in stock markets (as the Tylers have exhaustively demonstrated), which makes missing this "rally" no more shameful than missing the 100-baggers you could have made on Zimbabwe's stock exchange.
On a personal level, he could very easily have responded to bimbette du jour "How many viewers has your financial comedy/propaganda channel lost since this rally began?"
But you always think of the good quips after the conversation is over . . .
Agreed. Easy when it's 20/20.
You spelled Bitch wrong its spelled Cunt
What about closing a SHORT FUND - didn't she get???? LOL Smile and look good...brains not required.
This is one thing I like about Stanley Druckenmiller. He maintains composure and is articulate in slamming the Fed.
You can get a tube of Silver Maples for just under $420 right now, coincidence?
Yellen and Ben have retired to their Hampton getaway for the weekend partaking in the good stuff, while the peasants are left with only Liesman for entertainment.
Maples come in tubes of 25. If that were true, I would literally go all in.
Yup. That'd be 16.8x an oz (including premium).
Not there yet.
During spikes, gold is way more volatile than silver. One doesn't necessarily lead the other, either.
Run, run, run, but you just can'y hide. These people will be mounted on pikes first after this thing finally blows...
Washed up Honez.....At this rate CNBC needs to serve up a large dollop of extreme Belle Knox to have any chance of recovering ratings
Fuck the Fleckensteins and the Einhorns and the Blankfeins: tell me what Michael Burry is saying and doing. Get an interview with Michael Burry please.
unfortunately life has taught michael burry a few things in recent years - he actually has developed social & relationship skills now and has therefore possibly lost or blunted some of his autistic savant analytic skills
Im not being facetious or judgemental in any way, i bet he's a happier man but with a diminished ability to look into the crystal ball. Good for him
CNBC views hitting new lows every day
I agree with Bill, even though I never heard of him. I never heard of most people; I like it that way.
He's a regular contributor on MSN web site Finance. Solid info but as we all know, the Fed has more massively manipulated this stawk market [and housing] then almost anyone thought possible.
Top might be near.... ridiculed and mocked for not being in the market. Even that stoopid twat has the balls to insult him.
That's what I thought. He is ridiculed like Schiff on timing. Then the market implodes and just as they prep another pump rally, he will be invited back to make more predictions that Fed will not allow to happen. And he will be ridiculed again.
You mad bro????
one thing is for sure, when stocks crash, and they will, only a few of us will still be able to get a good night's sleep, while the rest of the world frets about losing 50% of "their money" in a matter of days/weeks.
No, NO, NO. You don't get it; when stocks crash, I will be making a lot of money. A lot. It's very, very, simple; it's called shorting the Indexs with margin.
Yeah sure SIMP 080. You are the last short that hasn't been destroyed the past 5 years. How skillful of you.
Housing can never go down...
That should be in quotes. Other than that..."perfect."
i saw it yesterday live...
the two assholes and that bitch couldnt have been more blatant in their disgust for him having the nerve to question the rigged fraudulent markets and their Fed induced "nominal", illusory paper gains...
the cunt was particularly cunty...
FUCK U CNBS...
Listen. Makes for good TeeVee, no? I'm sure the "STEIN" agrees. Tribe members are good actors. They get it.
Same CNBC that told us Bear Stearns is well capitalized
ha, cnbc just a little early in that claim
since then Federal Reserve went down the road of opening discount window (swapping trash for cash) to investment banks ... an investment bank will never again not be "well capitalized"
Those abrasive CNBC cuntz have to have learnt their trade somewhere. Those tight ass Wall Street prostitutes are the most dangerous bitches you'll ever meet. Don't trust them an inch
They just want eye balls, or the other kind, to goose ratings! Many balls are in play!
CNBS feels emboldened.
I like Fleck. The CNBC pumpers have had the lips so tightly attached to Bernanke and now Ol' Yeller that they can't see the other side of the coin. The fake wealth can evaporate in a matter of hours, yet they continue to view any rational thought or critical thinking as irrational. Fuck CNBC
When shit goes south, it'll be fun to watch their bellyaching though.
My prediction, that I will bet nothing on, is that the stock market will be allowed to crash and all of that fleeing money will be herded into the "safety" of USTs. When that wears off, its MyRA, BITCHEZ!
That sounds about right.
Meh. Nothing will ever top Larry Kudlow and K-fine live on CNBC in 2008.
Yesirreeeee...that collapse was on Live At Five!
My favorite line was Larry admitting "well there really is something to that whole inverting the yield curve and recessions happening after all!"
There's a certain honesty in that. "Schumpeter would be proud." Still...when markets start acting like "Bill and Ted's excellent adventure!" might want to keep it real too.
Agreed. expecting exactly this.
pretty smart penguin. penguin? I think; sorry if I guessed wrong.
TV is for retards. Why would you watch something the govt uses 24x7 to lie to you, manipulate you and the rest of the country to destroy the country. People are sheep. You viewership keeps them in control.
Stawks hit another 'high' today. CNBC says stawks can never drop.
I think they said the same thing about internet stawks in 1999.
T hey said the same thing in 1929; in Nationally syndicated newspaper articles. Look it up; I'm not kidding; history not only repeats, they don't even bother to change the lyrics.
True dat, SAT,
The fact that the stock market lost 90 percent of its value from 1929 to 1932 indicates that the market, at least using one criterion (actual performance of the market), was overvalued in 1929. John Kenneth Galbraith (1961) implies that there was a speculative orgy and that the crash was predictable: “Early in 1928, the nature of the boom changed. The mass escape into make-believe, so much a part of the true speculative orgy, started in earnest.”
http://eh.net/encyclopedia/the-1929-stock-market-crash/
An "orgy of speculation" ... I like the Roman hint of that.
The inveterate gambling addicts just can't understand why Fleckenstein doesn't hang out at the craps table all night.
They can't stand a guy who plays some $5 blackjack for an hour.
And never mind the immorality of what the FED is doing.
+1 for morality - Fleck should have said something about that instead of claiming that he doesn't care. For the record, he sounded like he cares.
But the triumphalism of these zeroes on tv fully funded by the fed is an embarassing spectacle
I recommend taking a home equity loan of 110% value of your home and buy BABA.
I did that with GoPro. Huge barriers to entry with that product
Fleckenstein is as dumb as all the other dumb sheeple which don't understand why SnP is going to rally way beyond 3000 in coming year(s) and way beyond 2200 this year. And that is what you call anal-ysts. The blind and dumb sheeple led by the one-eyed - which all together never left stonage. Crazy. But why not.
Really? S&P 3000?
care to give reason(s)?
Unless he is just retarded he is probably refering to what normally happens to stock markets during a hyperinflation. They go to the moon while the underlying currency they are priced in goes to zero.
Look up charts of Zimbabwe stocks during their hyperinflation and our market starts to make at least a little sense.
I don't think we see a signifcant rate hike or a stock market crash. The FED is convinced that the only way to reach escape velocity is the wealth effect, so I think they will keep easing / intervening until we break the dollars back and then it's SHTF in a huge way.
there will be no hyperinflation
only disinflation ... that will lead to ... deflation
Ah, a reality denier. boy have you got a surprise coming.
asset bubble popping (and it will pop) will be the driver
Well, t hat answers that question; he's just retarded.
"I don't think we see a signifcant rate hike or a stock market crash. The FED is convinced that the only way to reach escape velocity is the wealth effect, so I think they will keep easing / intervening until we break the dollars back and then it's SHTF in a huge way."
Only when the Federal Reserve is faced with a free-falling US dollar will they react. Until then it's print to keept the party going.
Fucking infantile - they all look bad including Fleck.
The Jerry Springer show of Finance.
I don't think Fleck will be invited back onto CNBS annytime soon!
Does anybody really watch this "CNBC"?
I don't, but if anybody here does, you can bet dollars to dogshit that they do so for the entertainment value only.
Watch Fox Business for Imus. Waitin hfor the punch line to that ho joke
I bet that bitch mouthpiece could suck the zero's off a treasury bond !! I would hit it though just to be clear!!
Or as they say in West Texas, "that bitch could suck the chrome offen a trailer hitch".
She might appreciate if at least one guy would.
I like Fleck also, but this dude has been wrong for YEARS. To repeat for the umpteenth time and you guys keep mocking me - this is a massive bull market. And I'm not jumping on the bandwagon, I've been saying this since April '09. We are in a secular bull market which began 3/6/2009 and will run for at least 15 years. Deal with it already. And yes we are going to have several huge selloffs, and I hope that I have the balls to buy into the selling at the "right" time.
And just how do you "know" that?
I think you forgot this: <sarc/>
It is a massive BS market.
i don't follow very closely ... but i do remember he closed his short fund early 2009
I bet he's kicking himself leaving all that cash on the sidelines.
Cash always belongs on the sidelines until you're presented witha 70/30 bet and cheap margin.
It is a massive money printed scam. There is no market. They will take you money to bail out the insolvent banking system next time.
Of course he's been wrong for years; so what? did you miss school during markets 101? they go down faster than they go up; and using margin and contracts wisely, you can make more CERTAIN AND GUARANTEED money shorting the bitch when it's falling apart than you can gambling on it as it becomes more and more unstable.
You are more right than any of the doomsayers on ZH.
They never heard of the climbing the Wall of Worry, technique of gambling successfully on the upside.
We can dispense with the notion that playing the stock market is anything more than gambling with some simple and sophisticated ways of hedging that Roulette, Poker, and Craps never offered.
Onward, and upward,
Right. Markets are nothing more than probalities. That's why when I was a floor trader the highschool dropouts were usually way more successful than the U. of Chicago/Northwestern/Ivy League MBAs. Personally, I'm a moron, but I'm a decent poker player.
What kind of floors did you trade?
Granted funny, but you're not going to give up my friend.
Organized crime's numbers-running and loansharking businesses represented "massive bull markets" for them, too--and for a lot longer than 15 years. What's your point?
I missed it. But I never see CNBC. I don't have cable anymore.
Every once in a while they gotta show no bias.
The correct response is that these very same people told us how wonderful Barack Obama would be for the country. My question back to them would be ... "How well is that working out for the 99 percent that don't own a single inflated stock?
anyone have the vegas odds on when fleck will be allowed back on cnbc?
Well, if you think about it. It IS what the sheeple want. Wish hard enough and vote stupid enough you can have your progressive cake and eat it too. Keynsian marxist won't go away until complete humiliation or death. Buckle up and pray there is a country left to rebuild after the pop.
Check out this guys hairdo. He's been keepin it real since the 80's.
Where is Marc Faber? He said S&P would not go higher than 1347.
reference? link? Faber is not stupid enough to make number predictions.
Errata ( but what is 23 S&P points among Central Bankers )
Marc Faber- we reached a high...1370 on the S&P...that, we will not go through.
https://www.youtube.com/watch?v=Q_qAywFBcTI&list=UUG3etjmMgtEi1sMnPW0qTFg
WOW, what a bunch of idiots! The way the CNBC people talked could be viewed as the hubris right before the fall.
The question is which fall? The US Stock market or CNBC? I would have thought that CNBC has already fallen quite a lot. Does that mean the US Stock market is done for?
I miss the RT version of Lauren Lyster.
She had a classy little chassis. As the guests were bloviating she would let out sexy little 'um-hmms' and the cameraman would give us the low angles..
WuFF Woof! She was pretty smart, too.
Did'nt RT start the glass table thing?
I used to think they were "pretty smart" when I was hot for their bodies; I made that mistake twice; the second time cost me my real estate in Northern California and my business. Now, I just assume they're not smart; seems to work alright.
Hopefully you learned but I doubt it that falling in love with a beautiful woman comes with a guaranteed breaking of your heart, your bank account, and/or a lifetime of regret.
If not, you deserve to have it happen again.
It is a a rare thing for a beautiful woman to only want one mate for life. For a handsome man, that goes triple.
Beautiful women and handsome men should never marry. Unless they are blind from birth and have never seen the reaction by others to their singular genetic accident.
No matter how beautiful she is.....somebody....somewhere.... Is sick of her shit
Saw that in the restroom room at Uncle Nasty's in Austin Texas in 1984. Just as true now as it was then
You mean Erin Ade's satanic hand signs don't do it for you
http://www.youtube.com/watch?v=TVlgdhhf-Hw
missed .... not missed
i thought the point was the probability of the market advancing a large percentage higher (from here) is less than sideways or a decline... but i also thoght all that traders want is movment and volatility.... riding the elevator up and down...
besides according to hitlary CLIMATE CHANGE is the major issue of the day ((she already has the vagina vote, the race card vote, the illegal vote and the jewish libtard vote))
not ebola, terrorism, illegals, debt, economy. lawless government, nor china/russia militarization or benghazi...
Bill Fleck is a loser. The only bigger losers are those who trusted him with their money.
"Making way for an intergalactic superhighway. Sorry Earth but you're in..the...way." Douglas Adams.
Be patient, chipmunk, t he fat lady hasn't sung.
She sang at a double in the S & P, then she did an encore at a triple on the S & P. Your notion of Fat lady's vocal prowess is wasted cuz you're deaf.
You die hard shorts are making fools of yourselves with unnecessary predictions, and have been doing so for half a decade.
Just be content to hold your shorts until that inevitable day comes, and be quiet about it.
"You die hard shorts are making fools of yourselves with unnecessary predictions, and have been doing so for half a decade."
Woo-hoo! A whole half decade, huh? That's a long time...if you're five...
Janet Yellen, CNBC, and their lackeys at Gov-Co have corrlaled the public into the slaughtering pen -
When this is over, I expect to see Nuremberg-type trials.
BUY BUY BUY BUY BUY!!!
Maybe it wasn't a good idea to let the banks take over the US Government via the "Federal" "Reserve"
How about this. Less and less people are taking part in this reflation of the stock market. Eventually the rug gets pulled and even fewer will participate. The United States of America is PRODUCING less and less each year. We will have approximately 1/4 of our population receiving Medicare and Medicaid for the better part of the next 2 decades. At this point measured by GDP healthcare "produces twice the GDP that manufacturing does(17% and growing 9% and bouncing on the bottom). The majority of this jobs being created in the recovery are part-time and low wage. Illigal immigration has been left unchecked while we fight an endless war on terrorism. Throw in the fact that ,had it not been for companies loading up on debt to repurchase stocks (in the end to basically funneling money to the top of those corporation) that EPS would be 20% lower. At some point in time the few banks left will own the majority of stocks,(corporation), housing (mortgage debt) and government debt (taxes and land). If anyone thinks this is going to end well, you don't know shit about history. There fixed it for him.
I noticed a couple of weeks ago when I had a connecting flight in Atlanta that all of the airport announcements were in English and Spanish.
The term "the new normal" has not been used much as of late, but going forward it may be about to return. Many investors and the public at large may be about to realize that central banks can only do so much through printing money and lowering interest rates. Both these actions carry with them some very strong and nasty side effects.
Markets have become very distorted as money has flowed into risky assets in search of higher yields. It could be we are about to see the markets morph into a "realizing market", one that grinds slowly downward. Another possibility is that at some point the wisdom of buying every pullback changes and the market simply drops like a stone. More on what the future might hold in the article below.
http://brucewilds.blogspot.com/2013/06/realistic-expectations-for-econom...
The apparent need to say something every day or several times a day about the stock market makes for some pretty lousy commentary.
Try just shutting up for a few days a week and see how little these contributions add or need to add to the narrative.
i don't understand what these smart guys miss about the new normal, virtual turbo fiat scheme. the only thing that can cause an asset crash is a crash in the underlying index and/or derivative. in other words, the acute need for cash by a big enough entity that the counterparties ripple throughout the system creating a cascade effect seen in 2008. that won't happen again. that was the end of the dollar. what is happening today is a slow erosion of the dollar based system with the accordant devaluation of dollar denominated assets illustrated by inflation in the nominal prices of the assets the "too many dollars chasing too few investments" crowd are bidding up. inflation is the god of debt devaluation and asset inflation. inflation is the neoclassical keynesian fractional reserve fiat economics monotheist god. praise the lord!
US Economic Primer
Unlike the banks, the public is provided no extra money to spend because it will cause excess inflation, i.e. a lot of dough chasing food and gasoline for starters.
The vast amounts of Fed created inflation money has to go somewhere.
Logically, it must go to the stock market and bonds in order to preserve the retirement, military, governing systems, banks, and Utube videos of George Carlin.
As time goes on, new workers will be payed less and get less to slow inflation and to slow the need for increasing benefits pension money. New workers will be replaced by smarter robots to slow inflation. Population will decline. Old farts will die off with the help of Ebola, doctors, television remotes, and their nagging mates. Thus most of the problem is solved. Repeat after me: Agent Orange! Agent Orange! Agent Orange!
Finally, just as spices are old medicine, gold and silver are old money. They have been phased out of our consciousnesses by Fiat-ians who constantly wreck the Keynesian model of the little socialist car. There will be little public demand for real money in the future because workers have little excess fiat money.
Thus we become poorer no matter what we do over the passing of time and, of course, any attempt to break out of this cycle, e.g. new inventions, or, this is not my idea, a just economic system without the Fed (which is the cause of all bad things for most of us), will be stolen or immortalized. Merry Xmas!
I forecast everything will be the same or worse during the next twenty years, except, of course, I won't be here to blame.
You're right! You're right! Dead on! But, uh, have you ever been crapped on by a black swan? It takes a lot of paper money to wipe away the poo. It ruins many investors' dreams of easy money and a friendly universe. Thus be afraid -- of being too rational and too comfortable.
Could CNBC post the portfolios of all their shills?
I would like to know how many of them have cash in this market.
Unless I know their personal allocations, I cannot take them seriously.
BTW, I really don't watch it.
what do these guys care what Flek does? they really do push their propaganda. i wonder how they italasize the telepromter to be a bitch mode?