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2007 Deja Vu All Over Again
As US equity markets push to higher and higher highs, the underlying substance of the exuberance is becoming not just more and more defensive but more and more concentrated in fewer and fewer names... now where have we seen this before?
Today... no problem, stocks are higher...
Wonder what was being said in 2007?
Charts: Bloomberg
h/t Brad Wishak at NewEdge
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Dow 50,000 here we come
Only if the dollar is terminated in earnest. Right now it "appears" as if the Fed is defending all the western currencies in the dollar basket...
interesting times.
Got Gold?
https://www.youtube.com/watch?v=Od9D6TECSa0
DOW-Icosahedron ! (20K)
DOW-DuoIcosahedron ! (40K)
DOW-TriIcosahedron ! (60K)
Platonic fun.
That chart has pretty colors.
Look, for the last time, if the vast majority of human participants are simply not participating in your "market", then who fucking cares?
It's the old "tree falls in a woods" analogy.
7+ billion people on the planet who require real resources to improve their daily standard of living, how many of them secure those resources and real services using dollars or the S&P? That's all that matters, period.
How secure are those resourses?
When fraud is the status quo, possession is the law, period.
So, same as it ever was...
Exactly right. If it is not in your physical possession, then you do not own it. Period.
Until the government sends in jackbooted thugs and a tank to take it from you and give it to their cronies.
Luckily I reside in a state with fantastic gun laws, so they better get themselves right with whatever god they believe in before kicking in my door. And, since I will also be killed, I guess it does not matter if they take my possessions after that.
But the new Attorney General will restore rule of law, right? Right?
Many may not have a personal brokerage account, but many do have 401ks linked to the stock market.
Since when did history matter in a manipulated market? Or earnings? The Fed has to levitate markets since that is the golden goose that keeps the US economy going (by enhancing consumer spending) and the dollar strong.
The middle name of the US economy is fraud.
Add please to that also geopolitical pressure. US is right so stockmarket must go up, Russia is bad guy so stocks must crash. And many more like gold must go down, yileds up and more blah blah. Anyone noticing that Uranium is up after a long time. Perhaps the new cold war is not so positive for the reteriment of the nuclear arsenal :)
and this time is different.
the banks, especially the primary dealers, have massive ill gotten gains sitting in reserves (over $2 trillion) that will be used to keep things propped up if they get out of hand. in 07 they were levered up, as were the hedgies, and there was no cash just sitting waiting to backstop.
japans $35B going to pump foriegn stock markets will also be there at any dip.
the fed, despite stopping creating new QE $, is going to roll the the maturing debt to new debt which will also be a stimulus (and backstop). sneaky QE.
the markets are not going down, and will certainly not crash. there will be small pullbacks to keep sucking in the shorts and retail money. until next fall or spring 16 when obumer wants to leave the new incoming republican president a mess to deal with just like clinton did to bush and bush did to obumer.
party on.
This time=different.
And this time people have Obamacare premiums or IRS penalties to pay, lowest labor force participation rate in almost 40 years, record student loan debt and sub-prime auto loans, and HELOC and sub-prime mortgage lending revving up.
An even bigger bubble than 2007, and $10 Trillion more in debt (that is 10 Million Millions!).
House of cards!
Nice concise substantive comment.
If we really count who are in the labourforce after deduction of civil servants, long term disabled etc only 4 working people support this 17 trl national debt :)
My choice is either pay $11,000 a year for health insurance (my part of the total premium of the $2600 per month family policy) offered by my employer or pay $16k per year for an Obamacare plan. The Obamacare plan is substantially cheaper than the employer plan overall, but more expensive because my employer won't cover any of the premium.
I can't afford $11k for health insurance and even if I could I would never pay that much in a million years. So come January I won't have health insurance.
11k usd? wow..
In that case I´d just save the 11k annually and put it in some kind of medical savings account. After a few years you could cut it down to 5k and still you´ll most likely just grow a giant pile of money for yourself.
Except he will be facing a fine from the government for not having obamacare
I keep waiting for the student loan debt to be pushed into some Fanny/Freddie equivalent...
A moneyless society has been prophesied by many utopian-minded philosophers and science fiction writers. I always wondered how we'd get to that point. Now I do. We're already there. Nobody has any money. As simple as that.
were interest rates this low in 2007 ? cant recall. bonds are the bubble not stocks
Bonds will go lower.
Bob Pisani? Is that you? Or is this LIESman?
I'd agree with you if it wasn't for the liabilities currently on the U.S. balance sheet.
Liabilities are the problem.
Until you hear the words ‘Euthanize the disabled’, nothing will change.
It's spelled "US balance shit".
Hey tardo, rates go up and stocks are going to go down. Bonds pop and the whole thing pops.
or poops...
Both are in a bubble due to the Fed financial fraud.
funniest thing ive seen all day was on CNBC: herb greenberg comes out on CNBC to talk about XON & he is going to "green light". he comes on at 12:30 (as the stock is riping thru 23.50). at 12:10, the stock was trading 22.10 and started going in motion. stock goes nuts & flies to 25 just as steve weiss rips him for being a "jockey" and focusing solely on institutional ownership (fidelity, 3rd point). stock then gets pelted down 2 off the high.
i guess nobody knew he was going to talk about it. somebody's "lucky" day.
Well, it was mine for sure. $75 per barrel oil has several serious implications for those in the business of extraction in the U.S..
More Mexicans?
When the oil field's busted
And the peso takes a dive
You better stay off the side streets
If you wanna come back alive. -James McMurtry's take on it
More Mexicans?
Yes, we need more illegal aliens to commit the crimes that americans are too lazy to commit themselves
ROTFL! That was the funniest thing I've read in a while!
Thanks for that
Intrexon - "Our Approach":
"Through an integrated suite of proprietary tools, Intrexon enables our collaborators to rapidly and reliably iterate through each critical stage of development including design, build, test, and learn to quickly arrive at optimal biological solutions with real-world value."
That kind of bullshit reminds me of Enron.
Source: http://dna.com/OurApproach
We're all gonna die!
Thats one truth NO ONE can escape. Even TPTB.
Well, at least we won't all die on the same day. And that would be true even if we all died simultaneously.
Good thing they wrote the song What Goes Up, in the 70 s, never could write that hit now.
Not without your name being put on some list...
It will certainly be more interesting this time, especially to watch the CNBC show clowns lose their shit on air.
Colorado cops show off cannabis harassment tactics for CNBC crew, give tickets for cigarettes
Bah, it'll be fine. You'll see.
(I've posted this dozens of time the last couple years. It started out as a joke. Now, not so much.)
Yes, you have been saying this even before you changed your moniker to a nailgun.
I believe you mean he/she/it changed his/her/it's avatar.
yes, my bad...
Deja Spew all over again
Its been 2007 all over again for the last 6 years
No fundamentals no reality! The market is owned ny the fed and run by Wallstreet! get use to it!
Never! I will never get used to it!
I say fight for the truth. Fight for morality. Fight for freedom!
Commence Operation Mayhem!
All charts, market statistics, fundemental stock valuations are moot since 2008.
Attention all Planets of the Solar Federation
Attention all Planets of the Solar Federation
Attention all Planets of the Solar Federation
We (the Fed) have assumed control
We (the Fed) have assumed control
We (the Fed) have assumed control
+1 for the Rush 2112 reference.
"We are the priests, of the temples, of Syrinx. Our great computers, fill the hallowed halls. All the gifts of life, are held within our halls."
End the FED! Turn the Marriner S. Eccles Federal Reserve Board Building into a museum of the evils of fiat theft of savings and the debasement of labor and lives!
https://www.youtube.com/watch?v=o_K13Znmmxc
I doubt Neil Peart had program trading in mind, but the beauty of it is he left it open for interpretation. In other news 666 is a human number.
So is 69
I can't believe you're saying
These things just can't be true
Our world could use this beauty
Just think what we might do
Listen to my music
And hear what it can do
There's something here as strong as life
I know that it will reach you....
Don't annoy us further!
We have our work to do
Just think about the average
What use have they for you?
Another toy that helped destroy
The elder race of man
Forget about your silly whim
It doesn't fit the Plan!
"We don't see any risks going forward in the sub-prime market" The Bernanke March 2007
"I was wrong, this equity market is set to explode higher in a Bull Market" The Gartman October 2014
Just for once i'd like to be on the winning side of a trade so i plugged into one of those HFT reconditioned thingymajigs and it's gone BATS.
QE 4 til QE dollar dies,
Let's face it. It is in no one that matters best interest to upset the apple cart. Higher interest rates will cause everyone harm except for the small minority of savers. A tanked stock market will kill all public and private pensions. With the boomers retiring, if the stock market were to lose 50% of value, there would be no way to fund the boomers in retirement. The system would collapse. I think the ponzi continues for at least another decade.
That's why they'll be QE until the dollar dies.
Government debt rapidly blows past $34 trillion as it funds an ever higher market.
No place to put your money and eventually a Zimbabwe-like situation.
The current credit system can't deal with deflation so it must inflate at least over 2% a year.
Let's face it. America has become a PINKO COMMIE FASCIST nation. If you accept it, you are a PINKO COMMIE FASCIST individual. The country cannot change until individuals change. As long as you accept it as is, you are a traitor and enemy of individuals like me.....Your rationalization of the situation is actually an 'escape'. Get courage and change!
It goes up until it doesn't. That said, Divergances bitchez.
And now for something completely different .
Some new owners are coming in .
See
https://www.academia.edu/9247204/Be_Your_Own_Owner
or
http://andreswhy.blogspot.com/2014/11/be-your-own-owner.html
Yellen excuses at the ready.
Due to the excessive counterfeiting by er, er, ISIL we are dumping your dollar for the new domestic currency ' The WallyMart Wonga '. Exchange rate $10 = 1(one) WallyMart Won. Available at all premium stores. . . Offers apply for a limited time , see Groupon Coupon for further . .
Perhaps, just perhaps, the old economic paradigm is dead.
For decades, science fiction has incorporated as backdrop a guaranteed minimum income (GMI), paid by gov't, and distributed to as much as 95% of the population. In most SF novels, the plot doesn't depend upon GMI, being something the author merely casually mentions.
Then, of course, we have this drivel from that total Marxist fuck Roddenberry: Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Is the new, evolving economic paradigm Marxist?
That's not fair. The red line is still in a rapid advance.
I'd like to click my heals and sceam "It is different this time".....
Ah, the red line is 200SMA. Thought primarily it's the dax-chart.
Yellen goes to sleep with these graphs and charts...
The Bi*** follows the red line and won't let the market drop.
The new mafia is in town(market) and will keep it rigged
There is enough liquidity sloshing around to last 50 years. Buy it.
Martin Armstrong is calling for 23000 to 26000 and then onto 46000.
Kick the can down the road until... ooops... We need another Timmy!
Nothing to see here, now move along!
All irrelevant .
You have new owners .
https://www.academia.edu/9247204/Be_Your_Own_Owner
The present system is provably incompetent .
This time it's diffirent we have the PPT and circuitbreakers.