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10 Key Events That Preceded The Last Financial Crisis Are Happening Again
Submitted by Michael Snyder via The Economic Collapse blog,
If you do not believe that we are heading directly toward another major financial crisis, you need to read this article. So many of the exact same patterns that preceded the great financial collapse of 2008 are happening again right before our very eyes. History literally appears to be repeating, but most Americans seem absolutely oblivious to what is going on. The mainstream media and our politicians are promising them that everything is going to be okay somehow, and that seems to be good enough for most people. But the signs that another massive financial crisis is on the horizon are everywhere. All you have to do is open up your eyes and look at them.
Bill Gross, considered by many to be the number one authority on government bonds on the entire planet, made headlines all over the world on Tuesday when he released his January Investment Outlook. I don’t know if we have ever seen Gross be more negative about a new year than he is about 2015. For example, just consider this statement…
“When the year is done, there will be minus signs in front of returns for many asset classes. The good times are over.”
And this is how he ended the letter…
And so that is why – at some future date – at some future Ides of March or May or November 2015, asset returns in many categories may turn negative.
What to consider in such a strange new world? High-quality assets with stable cash flows. Those would include Treasury and high-quality corporate bonds, as well as equities of lightly levered corporations with attractive dividends and diversified revenues both operationally and geographically. With moments of liquidity having already been experienced in recent months, 2015 may see a continuing round of musical chairs as riskier asset categories become less and less desirable.
Debt supercycles in the process of reversal are not favorable events for future investment returns. Father Time in 2015 is not the babe with a top hat in our opening cartoon. He is the grumpy old codger looking forward to his almost inevitable “Ides” sometime during the next 12 months. Be cautious and content with low positive returns in 2015. The time for risk taking has passed.
So why are Gross and so many other financial experts being so “negative” right now?
It is because they can see what is happening.
They can see the same patterns that we saw in early 2008 unfolding again right in front of us. I wanted to put these patterns in a single article so that they will be easy to share with people. The following are 10 key events that preceded the last financial crisis that are happening again right now…
#1 A really bad start to the year for the stock market. During the first three trading days of 2015, the S&P 500 was down a total of 2.73 percent. There are only two times in history when it has declined by more than three percent during the first three trading days of a year. Those years were 2000 and 2008, and in both years we witnessed enormous stock market declines.
#2 Very choppy financial market behavior. This is something that I discussed yesterday. In general, calm markets tend to go up. When markets get choppy, they tend to go down. For example, the chart that I have posted below shows how the Dow Jones Industrial Average behaved from the beginning of 2006 to the end of 2008. As you can see, the Dow was very calm as it rose throughout 2006 and most of 2007, but it got very choppy as 2008 played out…
As I also mentioned yesterday, it is important not to get fooled if stocks soar on a particular day. The three largest single day stock market gains in history were right in the middle of the financial crisis of 2008. When you start to see big ups and big downs in the market, that is a sign of big trouble ahead. That is why it is so alarming that global financial markets have begun to become quite choppy in recent weeks.
#3 A substantial decline for 10 year bond yields. When investors get scared, there tends to be a “flight to safety” as investors move their money to safer investments. We saw this happen in 2008, and that is happening again right now.
In fact, according to Bloomberg, global 10 year bond yields have already dropped to low levels that are absolutely unprecedented…
Taken together, the average 10-year bond yield of the U.S., Japan and Germany has dropped below 1 percent for the first time ever, according to Steven Englander, global head of G-10 foreign-exchange strategy at Citigroup Inc.
That’s not good news. The rock-bottom rates, which fall below zero when inflation is taken into account, show “that investors think we are going nowhere for a long time,” Englander wrote in a report yesterday.
#4 The price of oil crashes. As I write this, the price of U.S. oil has dipped below $48 a barrel. But back in June, it was sitting at $106 at one point. As the chart below demonstrates, there is only one other time in history when the price of oil has declined by more than $50 in less than a year…
The only other time there has been an oil price collapse of this magnitude we experienced the greatest financial crisis since the Great Depression shortly thereafter. Are we about to see history repeat? For much more on this, please see my previous article entitled “Guess What Happened The Last Time The Price Of Oil Crashed Like This?”
#5 A dramatic drop in the number of oil and gas rigs in operation. Right now, oil and gas rigs are going out of operation at a frightening pace. During the fourth quarter of 2014, 93 oil and gas rigs were idled, and it is being projected that another 200 will shut down this quarter. As this Business Insider article demonstrates, this is also something that happened during the financial crisis of 2008 and it continued well into 2009.
#6 The price of gasoline takes a huge tumble. Millions of Americans are celebrating that the price of gasoline has plummeted in recent weeks. But they were also celebrating when it happened back in 2008 as well. But of course it turned out that there was really nothing to celebrate in 2008. In short order, millions of Americans lost their jobs and their homes. So the chart that I have posted below is definitely not “good news”…
#7 A broad range of industrial commodities begin to decline in price. When industrial commodities go down in price, that is a sign that economic activity is slowing down. And just like in 2008, that is what we are watching unfold on the global stage right now. The following is an excerpt from a recent CNBC article…
From nickel to soybean oil, plywood to sugar, global commodity prices have been on a steady decline as the world’s economy has lost momentum.
For an extended discussion on this, please see my recent article entitled “Not Just Oil: Guess What Happened The Last Time Commodity Prices Crashed Like This?”
#8 A junk bond crash. Just like in 2008, we are witnessing the beginnings of a junk bond collapse. High yield debt related to the energy industry is on the bleeding edge of this crash, but in recent weeks we have seen investors start to bail out of a broad range of junk bonds. Check out this chart and this chart in addition to the chart that I have posted below…
#9 Global inflation slows down significantly. When economic activity slows down, so does inflation. This is something that we witnessed in 2008, this is also something that is happening once again. In fact, it is being projected that global inflation is about to fall to the lowest level that we have seen since World War II…
Increases in the prices of goods and services in the world’s largest economies are slowing dramatically. Analysts are predicting that inflation will fall below 2pc in all of the countries that make up the G7 group of advanced nations this year – the first time that has happened since before the Second World War.
Indeed, Japan was the only G7 country whose inflation rate was above 2pc last year. And economists believe that was because its government increased sales tax which had the effect of artificially boosting prices.
#10 A crisis in investor confidence. Just prior to the last financial crisis, the confidence that investors had that we would be able to avoid a stock market collapse in the next six months began to decline significantly. And guess what? That is something else that is happening once again…
Investor confidence that the US will avoid a stock-market crash in the next six months has dropped dramatically since last spring.
The Yale School of Management publishes a monthly Crash Confidence Index. The index shows the proportion of investors who believe we will avoid a stock-market crash in the next six months.
Yale points out that “crash confidence reached its all-time low, both for individual and institutional investors, in early 2009, just months after the Lehman crisis, reflecting the turmoil in the credit markets and the strong depression fears generated by that event, and is plausibly related to the very low stock market valuations then.”
Are you starting to get the picture?
And of course I am not the only one warning about these things. As I wrote about earlier in the week, there are a whole host of prominent voices that are now warning of imminent financial danger.
Today, I would like to add one more name to the list. He is respected author James Howard Kunstler, and what he predicts is coming in 2015 is absolutely chilling…
*****
Here are my financial forecast particulars for 2015:
- Early in 2015 the ECB proposes a lame QE program and is laughed out of the room. European markets tank.
- Greek elections in January produce a government that stands up to the EU and ECB and causes a fatal slippage of faith in the ability of that project to continue.
- Second half of 2015, the rest of the world gangs up and counter-attacks the US dollar.
- Bond markets in Europe implode in first half and the contagion spreads to the US as fear and distrust rises about viability of US safe haven status.
- Derivatives associated with currencies, interest rates, and junk bonds trigger a bloodbath in credit default swaps (CDS) and the appearance of countless black holes through which debt and “wealth” disappear forever.
- US stock markets continue to bid upward in the first half of 2015, crater in Q3 as faith in paper and pixels erodes. DJA and S & P fall 30 to 40 percent in the initial crash, then further into 2016.
- Gold and silver slide in the first half, then take off as debt and equity markets craters, faith in abstract instruments evaporates, faith in central bank omnipotence dissolves, and citizens all over the world desperately seek safety from currency war.
- Goldman Sachs, Citicorp, Morgan Stanley, Bank of America, DeutscheBank, SocGen, all succumb to insolvency. American government and Federal Reserve officials don’t dare attempt to rescue them again.
- By the end of 2015, central banks everywhere stand in general discredit. In the US, the Federal Reserve’s mandate is publically debated and revised back to its original mission as lender of last resort. It is forbidden to engage in further interventions and a new less-secretive mechanism is drawn up for regulating basic interest rates.
- Oil prices creep back into the $65 – $70 range by May 2015. It is not enough to halt the destruction in the shale, tar sand, and deepwater sectors. As contraction in the failing global economy accelerates, oil sinks back to the $40 range in October…
- …unless mischief in the Middle East (in particular, the Islamic State messing with Saudi Arabia) leads to gross and perhaps fatally permanent disruption in world oil markets — and then all bets are off for both the continuity of advanced economies and for peace between nations.
*****
Personally, I don’t agree with Kunstler on all of the particulars and the timing of certain events, but overall I think that we are going to look back when the year is done and say that he was a lot more right than he was wrong.
We are moving into a time of extreme danger for the global economy. There has never been a time when I have been more concerned about a new year since I began The Economic Collapse Blog back in 2009.
Over the past couple of years, we have been very blessed to be able to enjoy a bubble of relative stability. But this period of stability also fooled many people into thinking that our economic problems had been fixed, when in reality they have only gotten worse.
We consume far more wealth than we produce, our debt levels are at record highs and we are at the tail end of the largest Wall Street financial bubble in all of history.
It is inevitable that we are heading for a tragic conclusion to all of this. It is just a matter of time.
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You can bemoan his lists but the material speaks for itself.
We live in interesting times mon ami...
DaddyO
Okay, lets start the countdown, 10, 9, 8.......
too late, we're in non telling crash, or a non crash-crash.
see graphs, we in middle... but nothin to see go along, anyway, from any source now even frogs we can't say if shtf is for reel of just low player islam vengeance or cia attack to covert something of even self babar 1st self killing his country to hide france same day go from 5th world economy to 6th behing UK....
fuck that, fuck all, i go full drunk headhacke, cya tomorrow fuckers
11) Job Market: http://www.dailyjobcuts.com
,
Zero Hedge is consistently crying collapse! collapse! and that collapse, like Godot, never seems to come. The thing is, the only thing that's prevented that collapse is massive government internvention into markets. Okay, so they saved "the market" temporarily, but they had to destroy real capital in the real productive economy in order to do so. And that's where the real collapse is; it's pointless to pontificate over stock market numbers which have essentially become no more than Politburo propaganda. For millions of people in this country, the collapse Zero Hedge is warning about already happened. For America's inner cities and black communities the collapse happened decades ago. For retirees who put all their savings into 401k for a better future but then were wiped out by Fed machinations, the collapse has gotten them, too. But the howling maw is going to keep climbing the ladder, destroying families one at a time, prefentially destroying the weakest, sickest, and most vulnerable as all the remaining capital is stolen or shunted to the top.
https://www.youtube.com/watch?v=VI6tBwVjyOY
All the collapses you just outlined were but potholes on the road to destruction.
I have said countless times here that the EBT is the soup line of yesterday.
What happens when the dollar collapses in the global markets and all those dollars are returned to our shores?
Answer that question and you realize the ZH and its plebes in the comment section have front run a collapse of epic proportions.
9/2001 and 9/2008 wiped out massive amounts of value, currency and wealth, 9/2015 will be the third cliff on the way down to a 1929 style depression.
We all know things happen in threes...
DaddyO
Dollar collapse was avoided in the '29 depression. But that might be an unfair data point considering the U.S. was still on a gold-exchange standard, and technically the pound sterling was in the process of being replaced as the dominant "reserve" at the time.
While I am personally positioned to avoid significant pain should a dollar collapse occur, I still doubt it will happen quickly. In fact I daily question the wisdom of buying what I have, because it's not clear to me that in the life I have left, the dollar will fully collapse.
I'm not so optimistic, look at stock market drops in the months I mentioned above, add 1987 to the mix and you may want to reconsider your premise that a collapsing dollar may take some time.
When things go bad, they go bad quickly, especially in the financial and economic realms.
Let history be your guide...
Daddyo
Happy Shemitah year 2015
...and guess what the big trade for 2015 will be!
http://www.planbeconomics.com/2015/01/the-big-trade-for-2015.html
What will also be wiped out for a good long time is the fractional reserve system, as negative interest rates will obliterate it. That's okay, but sadly it will usher in even greater disparities in wealth creation (only those with assets will be able to create more assets) and Sharia lending laws will probably proliferate.
None of this is anything to look forward to even though many of us have been forecasting it for years now.
Some intellligent comments here for a change.
I do not believe the dollar is at risk for years or decades. The strength we've seen the last year is typical flight to quality. The world is in worse shape than the US, so investors are piling into USD assets to protect what they can.
In 5 years even Greece hasn't been resolved. When Spain, Italy, France, UK and Japan go "Greece", then the US can start worrying. Once they default and start over, then funds will flow back and the US is sunk.
Until then, the petro dollar doom is all just preparation... the nation equivalent of stocking up on rice and beans.
Spoiler alert.. Buy The Dollar... EU down.
10 things the media won’t be talking about after the Paris terror attack
Here is just one local event letting you know the collapse is very near...
http://news.yahoo.com/teenager-pleads-guilty-beating-death-ww2-veteran-0...
I didn't even have to look to know the race of the perp... The breakdown of law and order in the US is almost complete, but of course it's all whities fault because the gubbamint says so... Or does anyone really think that recent racial tensions are an accident? Shock!!!!
Yup, the USD is worth drastically more than Gold and always will be.
here is the math.
$1 million physical USD in one hundred dollar bills weighs 20.4lbs (source http://www.factmonster.com/ipka/A0774850.html)
20.4lbs = 326.4oz
$1,000,000 / 100 = 10,000 bills
10,000 / 326.4 = 30.40 bills per oz
30.40 * 100 = $3040/oz
3040/1207 = 2.5
or more simply
326.4 * 1207 = 393,964.8
1,000,000 / 393,964.8 = 2.5
Therefore the USD is worth 2.5 times gold by weight with the current spot price.
all these dumb fuks will keep buying that worthless piece of shit 'precious' metal thought, meanwhile Ill be loading the flotilla with the only thing that actually matters; /DX futures.
next stop teh moon bitchez!
Do you know that 2016 is 1200 in base 12? I feel like 2016 will be a special year, but what the hell do I know?
Apparently nothing, tarsubil-
Who the hell has the time or energy to convert Gregorian calendar dates into every base system in the rainbow, except for the insane and/or unemployed?
There is numerology at work in the world and its systems, but you're vastly overreaching here. Remember the engineer's razor- KISS. (If you don't know it, it's "Keep It Simple, Stupid." You get into something like base twelve, you're out in the weeds.
The negative response to that is pretty classic. Not arguing with it but it made me laugh. Thanks.
If you read it upside down it's like 910 satanic 7. Yup. Evil wind blows yon fornication.
Dollar collapse was avoided in 1929?? I guess, but in 1933 the dollar took a whopping 65% devaluation overnight thanks to FDR repricing gold from $22.67 to $35.
That seems pretty collapse-y to me.
FDR chose $35 on a whim because he thought that it sounded like a lucky number. Absolutely unbelievable what these people do.
FDR calculated everything in base 12
We also had a positive trade balance and were not the largest debtor nation in the world.
'This time it is different' .... in one important way.
Global communications is now comprehensive, so changes happen much faster than in the past.
The dollar collapse is likely to occur far more rapidly than past reserve currency collapses. You probably have enough life left to see it happen.
There was an excellent book I read that studied all hyper inflating currencies over the past several decades. The common theme of all of them is the moment hyperinflation kicked in they survived roughly 28 months at most.
you COULD NOT BE MORE WRONG.
CAPITAL CONTROLS BITCH. DO YOU NOT EVEN READ THE NEWS? DO YOU THINK THE FED IS SIMPLY GOING TO ALLOW USD TO ALL COME FLOODING BACK TO THE U.S. AT A TIME THAT IS NOT CONVENIENT?
NO BROTHER----THEY LET THE MONEY FLOOD BACK WHEN OTHER COUNTRIES ARE COLLAPSING AND THEN RELEND AT HIGHER INTERESTS RATES.
YOU HAVE NOT BEEN DOING YOUR HOMEWORK DADDYO.
While that is great work if you can get it what's to say all those other countries are going to come flooding back to us for higher interest loans now that there will be a pretty interesting alternative?
His name was BRICs. Err, is. Yeah.
They can't keep Mess-I-Can todlers from crossing the boarders what makes you think they wont stop backpacks full of cash on the backs of those Taco Vendors?
If they implement capital controls and prevent the return of money it is on par with a international default. That would have a greater unintended consequences than letting the money tide wash back in.
But I think people underestimate the size of the federal governments ability to screw people over. They have legislated as soon as one big bank fails on derivative contracts they are going to seize the publics money in a contrived crises. Sounds like Citibank will lead the charge in the GAO report that finally was brought out in 2011 that same bank was leant 1.7 Trillion dollars while officially the U.S. government flat out lied saying it was only 200 billion.
Bail ins are coming people GET YOUR MONEY OUT.!!,!,!,,,
They will screw every US citizen because let's face it they are a captive market (try to get your money out of the U.S. seriously!)
People have to remember that as soon as bonds pay zero and the stock market pays negative 25 percent and Obama and his minions put capital controls on us bank accounts there will be no escape except into physical gold!!!!
1929 HA! What kind of hopium are you smoking man? I can't figure any other reason why you would be so optimistic about what is coming.
Whoa...! I had an out of work, $120,000.00 per year desk driver, who is "helping" me install drywall ( all thumbs, no hand skills, owner's buddy), tell me he is consistently getting an 18% return on his IRA.
This started over a job site chat, how one could live comfortably off the interest income of $1 million. Easy, peasy lemon squeezy... Just pop it in...and get $60-70,000 a year in income. I asked him if he was joking, or fucking retarded? ....at which point he said he was getting 18% returns! no problem. He is still living off his severance, and mama's got good defense contractor gig.
This boy's world is going to crash hard. I have to keep hearing how important a good credit score is. For what, I asked? Well you know, if you want to buy a income producing rental or a new car.
The emotions I get from this run from disgust. Then pity. Then back to sheeple people disgust. I mentioned reading Drudge, and he asked what that was? Huge Ravens Fan though.
I don't normally associate with this type, so this is very wierd to me. Of course, on second thought, this IS my wife, but I just ignore her anymore.
"All the collapses you just outlined were but potholes on the road to destruction."
I have read ZH since its inception, and that is one of the best and most succinct comments I have read on ZH, DaddyO.
I vote your comment best of the day.
Here's my theory: the Fed will manipulate the economy according to whoever they want to be president (liberals). Think about it. The economy soared in 2000 to keep the dems in power. Then the markets crashed almost the next day. Then they crashed the market just after Sarah Palin was nominated as vice president. Obama was elected, then the pedal was to the metal all the way, stock market surging. When an anti-Fed president is elected, that's when they'll crash the market, and then try to blame him for it.
deleted
Damn. I really wanted to read your contribution.
Like the Lincoln letter to McClellan.
I spent a half hour on a post once, read it, and fiqured better not. I'm not Charlie H.
Jeff the Terrible
US wealth, compared to the world, peaked in 1945 and start declining in 1949 by China leaving Breton Woods.
US hold the power by force with wars in Asia and Coup D’état in Central and South America.
In 1971 US oil peaked.
In 1972 Breton Woods collapsed leading to recession and shortages in the US.
Petrodollar, in 1975, saved the US economy.
Deficits in 1980’s generate the jobs.
Financial bubbles in 1990 have kept the party going.
Then, by war and housing bubble in the 2000’s.
2007/08 the party ended; TARP to the rescue. But that did not last.
And now we are on the last bubble: Central bank (Fed) subsidies mainly to the Elites; and its crumbs to the general population.
The problem with your statement is not that you failed to realize the collapsed hasn’t happen yet….
It will be when the masses can smell all the lies, as their illusions turn to insanity.
Economies have only one real currency...confidence, and confidence, like our printed currency can either be supported by real assets or nothing at all. We are finding any remaining confidence based on delusion and nothing else. It is but a matter of time.
#Oldwood
Not entirely true- life isn't a straw-man, and lady 'Merica has been digging in with her heels and climbing back up the wall with her shiny manicured nails the past couple of years.
It's not for nothing that people say that you get what you pay for, and a whole lot of people have been learning that cheap Asian goods might just cost more than they're worth, price-tag be damned.
Hey- I waited 14 years to work in IT. It went away in Y2K, but it's back now. Turns out that people who can barely speak English and read from a script aren't quite as good as a guy who is on-site and can actually fix the problem at hand. Who could have known?
Last year, I bought a replacement kitchen-sink sprayer. Easy, right? Problem was, it had injection-molded parts that had not had the flashing or sprues removed before assembly. That meant it was cheaper, but also just locked open when anyone tried to use it. So, I used an American-made Buck 110 pocketknife to deburr it, and it's been faithful ever since.
But here's the problem with that- most people don't have a background in manufacturing or engineering. When the faucet fails, they are angry- but shrug and then throw the product away and call a plumber or purchase something else. They don't troubleshoot it. But after that happens a few times, they tend to get sick of it.
People want things that work, period. We've been living in a stupid and ill-concieved dream for most of my life, where idiot heirs decided that people will endlessly spend to replace garbage over and over again- and they were right, for a time. But people all over the place are tiring of that, and there will be a refocusing on quality over price sooner rather than later- it's already past the beginning.
You want real assets? We have those in abundance- stop believing the cable news channels who endlessly hype how China is going to rule us all someday- they won't. That is, of course, unless you invite them in and ask them to, Oldwood.
as further confirmation of Amerken made, my Buck 110 is still going strong from the '70s
Spot on prometheus. My buck knife is still here from 1972.
I buy USA made whenever I can. Plumbing fixtures includuing Delta, Kohler, and many others are not made in the usa. One toilet is USA made and it is 900 bucks. Recently delta, american standard, and kohler once again started to manufacutre some fixtures here but parts again from asia or mexico. I was a contracting officer consulting with a local housing authority during the time this administration hands out free money withthe stipuldation you buy USA made stuff. during my research we did not find anything 100% USA made to put in houosing. So later the administration granted waivers.
My one recommendation for those troubleshooting faucets (which is real easy BTW) is to buy ceramic cartidges made in the usa. We do make those and they last. The old saying you get what you pay for is true in this case. The cheap cartridges are made of cheap plastic have stamped metal where the seals will slide on and last about 6 months if they are used alot. Some toilets now the 1.2 gallon flushers although they state made in the usa are not. The ceramics are not made here but the flush unit is indeed made here.
It is tough to find USA plumbing parts but when I can I add them to my books and do my best to get customers to pay a little more for them. Now a 900 dollar toilet is not one of them.
"We tortured some folks" and then "we subprimed some folks" and then "we blew some folks up" and then "we propagandized some folks" and then "we thermited some folks" and then "we Ebolaed some folks" and then "we de-GITMOed some folks" and then "we bailed-in some folks" and then "we de-greaced some folks" and then "we de-Fracked some folks".... TO BE CONTINUED
Had to up vote your magical mystery history tour...
DaddyO
That's my Mel brooks movie on crack I have referred to
CONTINUED FROM MASTER'S POST...
..."we droned some folks", and then "we audited some folks" and then "we fired some military folks", and then "we butt-fucked some folks with a Louisville Slugger(tm)", and then "we robbed some folks", and then "we forced Communism on some folks", and then "we assassinated some folks" and then "we de-industrialized some folks" and then "we regulated the shit out of some folks" and then "we aborted some folks" and then "we euthanized some folks" and then "we did surveillance on some folks" and then "we told some ragheads to behead some folks" and then "we ruined 100 million folks".
We, the Pure Evil Psychopathic CIA destabilized some folks.
... and don't forget "we Quantitatively Eased some folks" ...
... btw, did you know that the anagram for Quantitative Easing is "Quiet Test In A Vagina"? ... :)
You also forgot...."we radiated some folks"
"We axe-murdered some folks"
We imported some folks...
http://news.yahoo.com/teenager-pleads-guilty-beating-death-ww2-veteran-0...
And we brutally beat to death some folks as Obama's sons would say.
We dumbed-down some folks...
Jeff, I ponder, is it the accustomization of knowing the current state of economic affairs that will blind the anticipators of civil calamity? One can only wonder the joy of being liberated from the perils of the current oppresors while enjoying a hot ginger, manuka tea and over looking the city on a polar vortex winter night.
The saying goes that ZH successfully predicted 400 out of the last 3 market crashes, but I don't mind.
I come here for the community. Most articles carry a sense of humor - something much needed when analyzing depressing facts.
I say ZH is correct about the depression. We never left the last one. Reality got papered over with pretty lies. We don't have to be predicting another event when the last one hasn't even played out.
And finally, whatever advise ZH offers, comes free of charge. Adjust your expectations accordingly.
Free of charge, but you still have to pay for internet access.
The "theme" needs to change from "fight club" to " the Matrix"
and some of the articles are real gems, all the writers are concerned about the very thing that supports their lives and their communities lives. They see a danger and a threat, and I respect that.
So after 38 minutes you just lifted czarangelus' entire post from 17:48, slapped your fucking vegan cookbook link at the bottom, and 18 people thought it was original?
Tyler why do you let them win? Has this entire site become automated?!? Hello? Is this thing on?
http://www.zerohedge.com/news/2015-01-07/10-key-events-preceded-last-fin...
I see that sort of thing happen too from time to time. I have called it out also, with little satisfaction. The other one is folks repeating the same post several times in different articles, or even several times in the same thread.
It sucks.
You will get no satisfaction from calling it out beyond others letting you know they saw it too. I think sorting it out is too much work and if they are not disruptive enough, easier for Tyler(s) or Sac to let it go.
It can't be too hard to figure out. They are Johnny on the spot if someone on the banhammer list shows up with a new handle but no where to be found with the comment bots.
Take your VEGAN stuff and STFU!
it looks like collapse/rebuilding, disasters/miracles continuing on an ongoing basis. each person is headed toward destruction, but there is life to live along the way. easier said than done of course. ymmv
It is still early in the year, wait til end of feb and see the numbers.
Wet Seal getting the party started...
Wet Seal lays off 3,700 as it closes 338 storeshttp://www.reuters.com/article/2015/01/07/wet-seal-redundancies-idUSL3N0...
The whole article is a CrockOCrap!! Tyler, it's like you love to give credibility to the markets by suggesting that they move by means of some kind of fundamental good or bad evidence. BS!! They move in a direction that is politically NEEDED. If they don't for whatever reason, they are made to thereafter. The stock market won't pull back in any significant way, and surely won't crash till the system implodes - In which case, NOTHING, especially knowing it is coming, will help.
...That's what you meant to say.
This was not written by Tyler(s). Guest post Submitted by Michael Snyder via The Economic Collapse blog,
Very polite how you did that. It happens over and over folks yelling at Tyler for what another author said.
But why is Snyder the go-to guy so often? There are 100s of good bloggers/alt sites out there. Just asking.
great update.
Look how far the markets have come in the last several years =>http://www.bit.ly/1fMcakI
WOW!
QE lives in europe, and YELLEN is jerking our gerkins as to raising interest rates. She has not even budged yet, so we probably see 2200 on SPX this year, end of this year that is. Interesting how its all playing out. Earnings and valuations keep going up too, which makes me seem this bull market is only HALF WAY THROUGH! wow.
The eleventh event....
zero hedgers start
boating with bullion again.....
Yes it is impossible to deny that with declining comodities (and oil being the big kahuna) the World economies are going anywhere but south. The hilarious thing is that the Share markets, that are touted as being forward looking are still high on the QE drug and expecting more.
For the first time in my life I've taken to eating Popcorn and waiting for "Die Hard the final cut"to play out.
From Some assemby required
Economies, like old men, get to the point where more stimulus has no effect.Mentaliusanything
Wrong that Fed’s stimulus has no affect. I know a banker that just bought $130 thousand dollars Maserati.
That's classy. People who work hard, make money, enjoy life...they buy a Maserati.
Don't worry the central banks are on it. Prepare for epic out of fucking nowhere market inversions to the upside.
CNBS moves Squawk Box studio, but it's the same old rosy hype and way too much Cramer. They will NEVER learn.
Rundown of mainstream media cowardice in covering today's Islamo-terror attack in Paris:
http://tinyurl.com/kcdmf2z
The list is actually only three or four things. Most are in a group like declining oil prices go with fewer rigs/wells and lower gas prices. That is one commodity-industry. You could attach commodities as a whole and then deflation.
The bond prices are a separate group and the ubiquitous CD swaps make sure that everyone will be in the same boat as it is sinking.
However, I agree with the general conclusion.
I can only hope people will reject central banks which is to reject the idea of central planners but that seems unlikely. Everyone wants to believe in the strong man, genius saviour, especially in matters they do not understand.
Smells like 2006 to me. I was only 2 yrs early
me too ... but the one thing i learned -
the longer reality denied ... the bigger the splash
2 hearted ale is probably the best store bought beer of it's class. Let me know when you guys have all this hammered out- I'll be at the river with my rod and beer. Nick
Would that be your fishing rod?
Guess it would depend if the fish were biting or not
What if the spare rod was a trout? Would'nt that be crazy?
I better build a bigger moat .
oil get cheap(er) ... maybe a few tanker loads into the moat ... light when the hordes approach ...
Said the Emperor who wore no clothes for too long.
.
How did I know this was going to be a Snyder piece before I even clicked on it?
The listicle in the headline tipped you off?
King Dollar: "Bring It"
I don't think it is a question of attacking the dollar. It is a question of curbing the excesses of any currency which either seeks to purchase resources well beyond its worth or which seeks to raise credit for unsustainable, damaging activities such as war and other malinvestments.
Exactly, replacement won't be the goal of any ganging-up... but increasing irrelevance in international trade will be the goal. It's the difference between a sudden dumping vs watching your consumer economy fade into irrelevance.
What's sad is the replacement will just be another fiat most likely.
You will not like the result.
THere is just nothing more to say on that regard.
"The 23 American reactors in 13 states [out of 104] are GE boiling-water reactors with GE's Mark I systems for containing radioactivity, the same containment system used by the reactors in trouble at the Fukushima Daiichi plant, according to a Nuclear Regulatory Commission database that MSNBC accessed.
The Mark I has design problems, the NIRS has said.
"Some modifications have been made to U.S. Mark I reactors since 1986, although the fundamental design deficiencies remain," the NIRS said. The following 23 U.S. plants have GE boiling-water reactors (GE models 2, 3 or 4) with the same Mark I containment design used at Fukushima, according to the NRC online database:- Browns Ferry 1, Athens, Ala., operating license since 1973, reactor type GE 4
- Browns Ferry 2, Athens, Ala., 1974, GE 4
- Browns Ferry 3, Athens, Ala., 1976, GE 4
- Brunswick 1, Southport, N.C, 1976, GE 4.
- Brunswick 2, Southport, N.C., 1974, GE 4.
- Cooper, Brownville, Neb., 1974, GE 4.
- Dresden 2, Morris, Ill., 1970, GE 3.
- Dresden 3, Morris, Ill., 1971, GE 3.
- Duane Arnold, Palo, Iowa, 1974, GE 4.
- Fermi 2, Monroe, Mich., 1985, GE 4.
- FitzPatrick, Scriba, N.Y., 1974, GE 4.
- Hatch 1, Baxley, Ga., 1974, GE 4.
- Hatch 2, Baxley, Ga., 1978, GE 4.
- Hope Creek, Hancock's Bridge, N.J. 1986, GE 4.
- Monticello, Monticello, Minn., 1970, GE 3.
- Nine Mile Point 1, Scriba, N.Y., 1969, GE 2.
- Oyster Creek, Forked River, N.J., 1969, GE 2.
- Peach Bottom 2, Delta, Pa., 1973, GE 4.
- Peach Bottom 3, Delta, Pa., 1974, GE 4.
- Pilgrim, Plymouth, Mass., 1972, GE 3.
- Quad Cities 1, Cordova, Ill., 1972, GE 3.
- Quad Cities 2, Moline, Ill., 1972, GE 3.
- Vermont Yankee, Vernon, Vt., 1972, GE 4.
Full list and locations: http://www.newsmax.com/Newsfront/GE-reactors-Japan-UnitedStates/2011/03/... These NPP's were designed to last no more than 30 years. We are now 12 years past their expiration date, and counting."Researcher and reporter Chris Carrington goes back to 1972 to begin exposing the cover-up that led to the 2011 catastrophe in Fukushima. It was in that year that Stephen H. Hanauer of the Atomic Energy Commission called on GE to discontinue its Mark I nuclear reactor design because it, “presented unacceptable safety risks.”
Immediately after, Joseph Hendrie who would later become the Chairman of the Nuclear Regulatory Commission, agreed that the Mark I should be stopped. But instead of warning the world about the dangers of the GE design, he warned the nuclear industry that the design was so popular and already in place around the world, a warning of its danger, “could well be the end of nuclear power.”
Since then, other experts have warned about the dangers of the GE Mark I design. Their usual concerns are two-fold. First, the reactors were criticized for not being equipped to handle the pressure that would ensue if cooling power suddenly shut off. The second warning was over the design’s spent fuel rod cooling ponds. They are 100 feet in the air near the top of each reactor. In Fukushima’s case, one of the six reactors was installed in 1971, prior to the warnings. But the other five were put online between 1973 and 1979, long after the dangers were well known."
"The article author cites a number of critics who reportedly believe General Electric should be held partially liable for the disaster in Japan. They insist that GE not only designed the faulty reactors, but built them and has been on-site to run them for the Japanese utility TEPCO all this time. In fact, they suggest that GE is actually profiting from the disaster by outsourcing its knowledge and expertise to the Japanese government in a multi-billion-dollar effort to contain the still-leaking radiation.
The report goes on to explain that even if negligence is discovered, on either TEPCO or GE’s part, both corporations are exempt from liability. Apparently, all nuclear reactor operators pay into a general liability fund, just like US banks, in case of large-scale accidents. It’s estimated that each nuclear plant pays roughly $100 million into the fund, which reportedly exceeds $10 billion. For that insurance payment, the reactor manufacturers and operators are exempt from liability.
Critics argue that $100 million per site is nowhere near enough money to cover the clean-up of a Fukushima-style disaster. Japanese authorities have already set aside $80 billion to clean-up Fukushima, and there are still 10,000 more years to babysit the contaminated nuclear site. That’s 800-times the amount US authorities have allowed the nuclear corporations to pay for the insurance policy on what could potentially be a $1 trillion-dollar-disaster after all is said and done."
Carrington and The Daily Sheeple suggest that President Obama’s silence on the topic is due to his fear that someone might mention the fact that there are currently 23 GE Mark I nuclear power reactors operating in the United States.
“Any admission that radiation has spread across the Pacific Ocean and contaminated American soil is an admission that the technology was flawed, and that same flawed technology is being used in the United States,” Carrington says, “The government does not want anyone looking closer at the situation. They don’t want people poking around asking questions about why the radiation got out in the first place - it’s too close to home.”
The article goes on to ask, ‘Nothing has been published regarding the increased rates of miscarriage and childhood thyroid cancers. Why is that?’ The author has a point. Hypothyroid disease is a mandatory test in babies here in the US. Test results since the Fukushima disaster show an increase in newborns testing positive for the radiation-induced disease throughout America’s western states. But the scientific community has been eerily silent on the anomaly for three years now while the US President publicly insists it’s untrue."
http://www.whiteoutpress.com/articles/2014/q1/23-us-nuclear-plants-use-s...
"As early as 1971, government regulators knew that the public’s last line of defense against the radiation, the reactor containment, was virtually worthless yet licensed the General Electric (GE) and Westinghouse Ice Condenser reactors anyway. When an Atomic Energy Commission’s (AEC) staff member suggested that this type of containment design be banned in the U.S. the AEC’s deputy director for technical review responded that it “could well be the end of nuclear power. It would throw into question the continued operation of licensed plants, could make unlicensable the GE and Westinghouse ice condenser plants now in review and would generally create more turmoil than I can think about.”
...
In 1986 Harold Denton, former director of NRC’s Office of Nuclear Reactor Regulation, again acknowledged this vulnerability while speaking to utilities executives at Brookhaven National Laboratory. Denton noted that, according to NRC studies the GE Mark I reactors had “something like a 90% probability of that containment failing.” (from pages 38-39, "The Myth of Containment")
http://www.greenpeace.org/usa/en/news-and-blogs/campaign-blog/dangerous-...
In the next 10 years, many of these NPP's will fail, and fail spectacularly. Fukushima is only the beginning, now we are just waiting for the domestic plants to die of old age. Many plants have already been shut down because there is no way to fix what's wrong, no place to send the spent fuel, continuous water cooling needed for a billion years. Within two weeks of the cooling water not running, another Fukushima explosion. There is an NPP in New York running without a license, because no one wants the responsibility of issuing one - it's close to blowing. Would you want your name on that, if it takes out the East Coast?
In the meantime, every working NPP is producing at full steam, with multi-decade license extensions given by people that know they will blow well before that license expires.
Every country on earth knows what's coming. The USA is dying a radioactive death in fits and starts, beginning to wheeze from Fukushima, until the real action starts - and it will start. The bankers are in the process of squeezing every last drop of value out of this country, until the place is littered with exploded nuclear power plants and the US becomes a radioactive wasteland.
And that's the best case scenario. If hackers disrupt the electrical grid for more than two weeks to any NPP, it'll explode. And don't count on the worthless emergency gensets that are guaranteed to fail at startup. Another corner cut.
You can trade, buy gold, land, guns, whatever makes you happy, but there is no stopping the nuclear death of the US in the very near future.
And beyond the US, the DNA that makes this planet tick will melt along with them. Life is over within 100 years.
Well written. I dont have enough knowledge in the nuclear field to have an opinion. Guess this is the only thing I can ask: where are you telling your kids to relocate?
Do a search on Nuclear Power plants in USA, you will find that the East Coast is not a good place. There are maps floating around showing you which states dont have any.
A truly important report, desperately so if not loked at by TPTB--even if they are drunk!! Milestones
Not Too Important
The Stench of Regulatory Capture!
If even one goes Fukushima, we need
make examples of of some folks.
Actually, we are probably stupid for waiting.
My physic prof said "I am not opposed to nuclear power based on what I know about
physics, but based on what I know about human nature."
Oh yeah? Well how are you gonna feel when they shut down your neighborhood nukuloor plant and you've got no electricity to play your electric twanger?
Huh?
Markets are broken, price discovery broken. Economy fully monetized
All the data we see now is so manipulated and busted that there can really be no other conclusion that since post Lehman, The FED, corporate interests and political establishment have been in the business of creating a false recovery.
We are in a financial Jonestown, where some of us are suddenly aware of the unfolding tragedy, and we have only minutes to try and make an escape.
And that's the Good News..
Personally, I am going to print off these predictions and a few others and then hand out marks at the end of the year. We don't follow up enough on these predictions.
I myself have two balls but neither of them are crystal. So I am parking a core with precious metals. Not worth playing with fire.
Grandpa, please don't print it. It's bad for the environment.
Save it on your PC, and create backups of it, stored safely.
Hey Sonny,
Keep storing your wealth on a computer and don't worry about me.
LOL
"Grandpa"
I am stacking - dollars - and when the credit-bank-supply-shortage paralyzes the nation, the DJIA is halted, neighbors on each side have been let go, families are figuring how to survive on their last paycheck, and AU and AG are swept down to $999 and $9.99, I will step up and make bids on physical PMs, not including their absurd premiums.
Let's say you are right, how do you know you will time it right?
Rand Paul backs bill to cut US aid as UN accepts Palestinian bid to International Criminal Court
Israel Prepares to Cut Electricity to Palestinians
Economic Warfare: Israel freezes Palestine tax funds over International Criminal Court bid
How did a Sandy Hook victim end up mourned as dying in the recent Pakistan school attack?
HR 428 sponsors to increase pressure for release of 9/11 Commission’s 28 classified pages
20,000 Ebola cases later…
One thing sure this time that won't happen like last time is that the stock markets will not collapse. Now the Markets are a function of central bank software and yes they have all that it takes to make them go wherever they choose.
BTFD like yesterday dude.
Massive layoffs are coming in every industry!
So tell us what you REALLY think...
What happened in '08: like Yosemite Sam in the old Bugs Bunny cartoons, tunneling into the dynamite shack [Wall St. CMOs, derivatives, et al] lights a torch to see where he is....and kaboom.
Except then Vladimir Putin was playing Sam....who shot the dynamite shack from a distance when he suddenly invaded Georgia a few weeks before.
It was all primed and ready, inasmuch as 3 close planets were in Libra, squared by Jupiter, with Pluto having entered the USA's 2nd House (still with us, and antithetical to any form of debt-based wealth).
Everyone knew this junkie paper was coming unraveled, Yosemite-Vlad just sped up the process. This time the CMO-shit is oil & gas crap, inasmuch as Neptune in Pisces (until 2026) means oil found everywhere by everyone.
I had no idea that Bugs Bunny was so into astrology.
"Bugs Bunny... into astrology."
I remember who Puto was, but Libra and Jupiter?
With a name like "The Economic Collapse," at least we know that your blog approaches the subject in a balanced, objective and unbiased way.
You and Kunstler may well be right. On the other hand, you may be wrong. None of you perma-bears called a bottom in March of '09 as far as I recall. Or in the third place, you may be early.
I'm thinking number three. But whatever the event, we'll know soon enough.
Very few can. It takes a well disciplined economic mind to do so. Hayek in April 1929 called the top as well as Akermann on October 1, 1929.
"American economic life is now about to enter upon the final phase of a boom period that began already in the middle of 1921. * * * American monetary policy * * * can hardly be said during these years to have favored the tranquil course of industrial expansion. Under direct or indirect American monetary influences savings capital has been attracted to speculative investments, which are now beginning to prove unprofitable."
Of course they actually had interest rates >0 back then.
PETER
Or you could accept the fact that this city is headed for a disaster of biblical proportions.
MAYOR
What do you mean, biblical?
RAY
What he means is Old Testament biblical, Mr. Mayor. Real wrath-of-God-type stuff. Fire and brimstone coming from the sky! Rivers and seas boiling!
EGON
Forty years of darkness! Earthquakes! Volcanoes!
WINSTON
The dead rising from the grave!
PETER
Human sacrifice, dogs and cats living together, mass hysteria!
[/GHOSTBUSTERS]
great movie, gonna be terrible to see a politically correct remake.
Dr Ray Stantz: Everything was fine with our system until the power grid was shut off by dickless here.
Walter Peck (AKA EPA Stooge): They caused an explosion!
Mayor: Is this true?
Dr. Peter Venkman: Yes it's true.
[pause]
Dr. Peter Venkman: This man has no dick.
Walter Peck: Jeez!
[Charges at Venkman]
Mayor: Break it up! Hey, break this up! Break it up!
Walter Peck: All right, all right, all right!
Dr. Peter Venkman: Well, that's what I heard!
It doesn't matter if half the population of the USA is starving to death, the stock market will not be allowed to go down. Buy the dip fellas! It's easy!
"the stock market will not be allowed to go down."
Until they say it will...
i remember hearing Obama say, back in 09' to invest
in stocks, the market was going to go up. I thought
he was full of shit...but I was.(Denninger too)...Correction,
POTUS is full of shit, but not on that time.
Point is, don't always take advice from Chicken Little.
Can't disagree with much of it except this part:
"In the US, the Federal Reserve’s mandate is publically debated and revised back to its original mission as lender of last resort."
The Banksters have been wreaking havoc since 1921, what makes anyone think that they will relinquish this type of control?
Bingo, this is and has always been about power and control over real resources, including the human kind.
There is no longer a political, monetary, or fiscal solution, that time has past.
Only from their cold dead hands.
Maybe since 1694...BOE start
"Goldman Sachs, Citicorp, Morgan Stanley, Bank of America, DeutscheBank, SocGen, all succumb to insolvency. American government and Federal Reserve officials don’t dare attempt to rescue them again."
Dont need the FED, the new legislation slid in by CITI and whipped by Jamie Dimon will cover gamling debts with taxpayer chattle enslavement.
no sure what sort of political revolution would required to turn this around, our reps already handed these guys the keys. well some people get confused between by what is probably going to happen and what they want to happen.
Even if they tax everything at 100% and bail-in at 100% there would not be enough wealth in this country to pay off the "debt". The FED is the only real game in town when it comes to making numbers look better. Everything else is about confiscation.
2008 was an election year, a controversial and unpopular presidency, two rigged elections, consistently below 50% in the polls. some thought they would do anything to hold onto power. (when you stop at nothing to gain power why change your methods?) GWB made speech after speech citing the strengthing economy, was he really lying? maybe not, because then the markets were crashed...
(and it was only after the current puppet agreed to their terms that the elections were allowed to go on) the media was preparing McCain. the news coverage was solidly supportive of him in every way, and then Goldman threw their hat in the ring, but they never bet on a horse unless the game is rigged, otherwise they hedge their bets.
just as bush was largely a front, the same thing applies to obama, he will either be seen as disinterested, or out of the loop, while the markets crash. i want to know what Yellen says when Obama calls and says HEY THE MARKET IS CRASHING DO SOMETHING. she may after all be more abiding of her next master than the one she has now. the penultimate master. short answer to all these (good predictions) is 1) wait till next year 2) watch as these symptoms of a market being murdered for political expediency all manifest themselves. (the ekg of a dying man looks the same whether it was natural causes or a bullet in the head)
a lot of bears are going to get fooled, but they always get fooled, they think its a fair and level playing field, and not a sitcom for the 1% to show off their acting skills (or lack thereof) as for the departure of Obama it may be the big surprise (some thought Bush would leave before his term was up, he bought a ranch in Paraguay, he practised disappearing for days at a time, he travelled without media, it was all rehearsed, but in the end, Hank Paulson was there to strike the bargain, and Bush stayed for the inauguration)
at the inauguration, the Chief Justice mysteriously could not read the constitution correctly. it was an inside joke. get it
all 10 events are accurate
but 1 event is different this time
FED wasn't watching last time, they were only playing catch-up as events unfolded.
but they are actively babysitting us now, this time is different...
still like the list though, it's nice to be reminded where reality should be, as for whether it will happen or not, that's a different question
Dunno what planet YOU were on, but the problem last time was the Fed WAS watching, a quarter point at a time;
Yellen will make the same mistake, and once again the Fed will be behind- in fact, they already are.
Turn off CNBC- the Fed isn't going to "save" you this time, either.
The other thing that's different this time is that the US economy isn't being driven by pulling equity out of real estate appreciation any more.
Are you nuts???
The FED actively and intentionally created the crash of 2008.
They are babysitting us, my ass.
Actually they are wolves licking their chops wondering if they will have the Red Wine or White Wine with dinner.
You are the main course.
Enjoy the slaughterhouse.
According to Greenspan’s book, The Age of Turbulence, the FED has been watching for quite some time.
Most government ‘employees’ represent ‘make-work’ programs from previous administrations.
"There are only two times in history when it has declined by more than three percent during the first three trading days of a year. Those years were 2000 and 2008 and in both years we witnessed enormous stock market declines."
Yes, but both of those were pre-QE, so can a comparison still be made? They will unleash QE again when the shit hits the fan.
Yeah but that was all Bush's fault. This time is different!
Oh here we go...the little peepee boys from ZeroProfit shitting themselves AGAIN! As far as I have observed, this blog has NEVER called any major turns in the markets. Your record is abysmal and usually a massivley contrarian signal...Time to go even more long the equities.
THAT's the spirit, soldier !
In a way, you have a point. Zero Hedge is consistently crying collapse! collapse! and that collapse, like Godot, never seems to come. The thing is, the only thing that's prevented that collapse is massive government internvention into markets. Okay, so they saved "the market" temporarily, but they had to destroy real capital in the real productive economy in order to do so. And that's where the real collapse is; it's pointless to pontificate over stock market numbers which have essentially become no more than Politburo propaganda. For millions of people in this country, the collapse Zero Hedge is warning about already happened. For America's inner cities and black communities the collapse happened decades ago. For retirees who put all their savings into 401k for a better future but then were wiped out by Fed machinations, the collapse has gotten them, too. But the howling maw is going to keep climbing the ladder, destroying families one at a time, prefentially destroying the weakest, sickest, and most vulnerable as all the remaining capital is stolen or shunted to the top.
After seven years of market gains, isn't it time for market chaos, I mean statistically?
Good plan, sparky- double down and add ANOTHER $50 to your IRA index fund this year......
Good, then for those of us that don't believe in coincidence, and have mastered the use of charts and graphs thanks to ZH, should all be able to market time this crash down to the nanosecond
Okay, I don't want to alarm anybody, but I was on the teevee then
And I'm on the teevee now (mug shots excluded)
Forget prediction. I think my awesome handsome anchor power breaks entire networks.
Goldman Sachs, Citicorp, Morgan Stanley, Bank of America, DeutscheBank, SocGen, all succumb to insolvency. American government and Federal Reserve officials don’t dare attempt to rescue them again.
Bwahahahaha oh wow.
I don't think a literal bloodbath is avoidable at this point.
The next big crash has to happen in order to necessitate "a new world order" for financial regulation, solvency - more bailouts and bail-ins.
'Either all your banks go bust or make them accountable to a new extra-legal unelected international authority.'
It would be priceless if American social security obligations were bailed-into bank stocks for everyone's protection.
Somehow I think someone is already working on that idea.
I don't think the heavy stuff is going to come down for quite some time.
https://www.youtube.com/watch?v=t3lshY4PwI4
RAT FARTS!!!!!!
i think that, life will go on. i think that, when markets crash, i will buy more stock. i think that, i will also vote for ted cruz or scott walker or rand paul if they run. and i think that, i will not give up hope.
tis' an interesting conundrum, maybe, i dunno, being a zerohedger, and also refusing to give up hope.
never give up hope. never never never never never give up.