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WTF Chart Of The Day: "Hopium" Edition
One wonders just how disappointed Americans are going to be when the hard-data reality hits and the almost record high hopes of rising incomes is dashed on the shores of "unambiguously bad" low oil prices....
"Hopium"
Chart: Bloomberg
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We're too far gone to notice how far gone we are.
Zen man. Way zen.
Lies lies lies is all this is and most americans have drunk from the stupid juice. I hate to be so blunt but hey what other excuse for the markets to go up today and the dow only down 500 from records come the fuck on please....
We've been down so long it looks like up to us.
The first question is do you make over 200k per year.
Yes answer then are you happy and confident.
No answer then we will call back when you do
the hardest thing to do is tell ppl who daily see sub-prime borrowers driving new cars, living up their 2 part-time job life, that the best course of action is to defer such gratification.
Despite your thorough understanding of macro linkages and geopolitics, they will more readily turn to the person in the new car for financial advice and not give it a second thought.
ignorance has a price; most ppl deserve the pain they suffer from it, because they enjoy the perks before they ask the difficult questions.
Who did they interview? I don't know anybody feeling so optimistic
Americans wrongly believe that John Kerry-James Taylor thing in Paris was a hoax:
http://tinyurl.com/kneu4zp
Americans have delusions of granduer. They think they will all be models and actors, millionaires and billionaires, when the moar they're closer to bankrupcy and obesity.
We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars, but we won't. And we're slowly learning that fact. And we're very, very pissed off.
I was going to write that but then realized that in the non-fiction version they aren't pissed off and they are overweight and emotionally and rationally unintelligent.
It's you and I who have realized the truth. We have realized we are all part of the compost heap and we are moar the better for it.
Assuming this all leads to utter devastation, who is really better off, the blind optimist or you who knows how bad things are?
Dead is dead, right?
In the land of the blind the one eyed man is king.
It's global and multi-generational. A hipster in the US in no different than a hipster anywhere else in the world. We look at things from our own perspective within our local area. When you travel often you see the same thing happening everywhere.
I agree. A hipster here, a hipster there, with their lack of cares for anything except themselves. A selfie and a pabst, self possessed and egotistical.
But what is the difference between a hipster and a boomer? Boomers thought they had "won" the war and sold out for the American Dream. What fun it will be to watch Boomers try and collect on pensions that are based on promises to pay.
The Greatest Generation? Well anyone that would use such a term for their generation should know they are full of shit.
So basically Americans have not changed since the '50s. And if we are the same as the rest of the world it will be humorous to watch as nobody will be able to flex their egos when they are walking to the grocery store, unable to sit on the couch for 8 hours a day.
I agree with much of what you're saying. But just for clarification, the label 'greatest generation' was given to the boomers parents, not the boomers. Boomers are the ex-hippie generation, hence the similarity in ego and belief to millenial hipsters.
Hey, I take exception to that comment!
Yes, I smoked a little dope
Yes, I did let my hair grow a little long (and still is)
Yes, I wrote very liberal papers for econ classes in college
According to my wife I have NO ego, and most certainly share little ideologically with millennials. I lost all of that thirty years ago. If anything my past gives me even more contempt for modern liberal ideology as I see my youthful stupid self in them. Its an ugly mirror of my past. Makes me want to slap them up side the head and tell them to Wake The Fuck Up!
I see the destruction of that mentality all around me.
I see people with cardboard signs under bridges that suffer that mentality....waiting for a handout while evaporating, leaving only an ugly stain.
Liberalism is a mental illness, that can be overcome, but like alcoholism, left untreated, only compounds itself. The more they demand be given, the less they have and the greater their need becomes. Its nearing a crisis point, a critical mass of mental disease that threatens us all.
You might be pissed off but most of America sure isn't. Confused, uneasy, worried, but most all - distracted. We've been wholly divided and conquered by team red/blue and things will have to get a lot worse before the common man finds it within himself to look away from NFL/Kardashian/reality tv, ad nauseum, ad infinitum.
It remains to be seen whether Greece and Spain with Syriza and Podemos, respectively, actually change the paradigm. And that's after almost a decade of massive unemployment and folks living without heat.
Hegel. I blame Hegel.
The State is the march of God through the World, its ground is the power of reason realizing itself as will.
The State is the Divine Idea as it exists on earth.
We must ... worship the State as the manifestation of the Divine on Earth.
You know, this stuff could really catch fire on the Continent. Una tormenta!
“Just think of how stupid the average person is, and then realize half of them are even stupider!”
- George Carlin
Well, you can pick your friends, and you can pick your nose. but - you can't wipe your friends on the back of the couch.
You can, but it changes the relationship.
most employers begin the hiring process by requesting a cup of the candidate's urine. this ensures that the employer will not make the mistake of hiring anyone with enough self-respect to demand a raise.
Most of the people I know in my area of TX still think the economy is great and life is grand. They just have no idea how isolated we are in this little spot. Sooner or later we too will feel the collateral damage of the grand cluster fuck created by the Federal Researve.
As long as we sit on the dry end of the titanic we can feel secure and enjoy our view....for as long as it lasts. I think people are so disillusioned with the world their expectations are all short term in nature which keeps polls like this one positive. Anything that would be traditionally thought of as future doesn't even enter their mind.
Optimism is natural, maybe if only to keep our sanity. Humanity would not have survived otherwise. We've been tested by much worse in the past and yet we're still here bitchin about it. Bitchin with 2 loaves of bread under each arm is also natural.
Its the power of positive thinking. I doesn't change a God damned thing, but heighten delusion. And delusion is the only God damned thing we have left.
It was an asset before what's-his-name vetoed hope.
Positive thinking builds confidence. That's not a new concept, in fact it's an ancient idea. The 'new age' concept is that you can manifest positive thinking or personal delusion into reality. That's a twisted lie, similar to unbacked fiat currency.
25 dollar a barrel oil is liquidity.
You can safely ignore the bank if the price gets that low and you are the producer.
Is Chevron or XOM hiring? To my knowledge no.
They ought to be though.
USA just in Orwell book 1984
Laugh out loud....keep hope alive...
I guess I am just a dumb ass from South Louisiana cause who in the fuck are they asking ...Isn't Michigan in 20 feet of snow ...I mean what the fuck...they at the U of M and asking students or whats left of them...
And are these the types like the ones crashing into each other in massive pile ups...I'd say confidence is high in the fact there will be more pile ups cause they don't know how the fuck to drive in the snow...
If you really think about it, where does the raw data come from? I mean if they can rig an election then rigging a fucking questionare is a snap. These people will do what ever they want and put up there any poll results they want and the results they put up will be the ones that fit THEIR agenda. Optimisim and hope are things that people intrinsicly want and so its an easy sell. People are generally pretty brain washed these days and so they buy into the illusion. They feel good about it and they go on with their little slave like lives. Sorry.
They just got hired at fast food inc. Heard there was a rise in the minimum wage coming. Windfall. They will likely go get themselves some of them assets for retirement that ole yeller was jawboning.
Most 'Mericuns get their news from their local six o'clock news, local papers, local websites and their friends. Everyday the "recovery" is hammered into their numb skulls and they believe everything they are told. Now gas prices are falling so they think things are even better. They barely get by living paycheck to paycheck. 3 out 5 don't have enough money in savings to deal with replacing a broken furnace. And now they think they're going to be making more money next year than they are now. I will almost feel bad for the dummies when the hammer drops and their world collapses, almost.
They will pay money saved from gas and oil prices for new taxes... many will lose a job.
If you've ever watched 'good morning america' on ABC in the morning, you will see what is thought of john q public. It's all happy happy joy joy and stupidity.
I don't have cable TV so I only get bite-sized pieces of the vomit when I stay in hotels. It's a lobotomy. It makes me want to drink. Even the so-called debates are just made-for-media talking heads regurgitating sound-bites at one another. I hate to say it but RT or al Jazeera America are more mature than the Situation Room style bullshit that is sprayed with an industrial pump across the American "intellect" every day.
The 3 "T"s are gospel to American news - tits, tots, and terror.
RT and Al jazeera are just 2 channels on your cable TV. Everyone around the world is basically watching the same crap, or translated version of the same crap, or 'made to fit' crap for the local audience with the same message. Only realdifference is their local news and weather channel. It's sad to say but I think the globalists have already won the global culture war many years ago.
Don't Worry...Be Happy...
You're just gonna feel bad in general. There will be friends, family, and members of your community that are body slammed by this fuck up and you'll find that you can't turn away. They are gonna hate you when you suggest they give up the stupid expensive monthly luxuries like their iphone and so much of the other useless consumer stuff. So many think that living within their means includes what they make and what they can borrow. The wake up is way beyone severe when the light goes on that living within one's means is understood to budget for income to cover expenses and that one of those expenses is saving for a rough time.
Sigh. I can't even get my own family to do that.
My Hopium is working out....
Own house, cars and vacant property (10 acres in another state)...zero debt.
Good for you! I would think that lots of the posters here are also well situated for a downturn.
Well we are in deep shit. But in the spirit of this zen moment" the best time to plant fruit trees is 15 years ago. Next best is today"
So, I checked out UMich website: http://president.umich.edu
THIS IS MICHIGAN
Michigan’s breadth of excellence affords it a unique opportunity to help address society’s most important challenges in the years ahead.
Weed must be leagal in Michigan , everyone's high as a kite.
I don't know why it so hard for people to see: the US has low inflation and strong economic growth. People think things are going to get better because they are getting better.
Zerohedge so much fun these days. People trying to turn what is probaby the best economic set up they are going to see in their life into an end-of-the-world scenario. Sure a black swam will probably hit - maybe this ISIS stuff in Europe, maybe something with Russia - but one has to be really in the weeds to miss that after years of bad performance the US economy has some mojo.
Go for it - new SUV, trip to Vegas, party on - until the bills come in and regrettably, interest rates rise.
sheesh! you've already bought into the cover-story and it hasn't even been released yet. "events" do not crush strong economies. predictable collapses are not "black swans". oh this is just hopeless, why am i even typ
I up voted you anyway.
Advice: Don't feed the troll.
wake me up if just one or only one of those responsible criminal bankers responsible for the crimes they do on humanity go to jail
that would be good sign for the hope for serious changes until that its just a illusion
Most of the population will not take the bitter pill now. They will only learn when it is far too late - near there already. The die off will be heartrending but the few of us that are somewhat prepared can not save all of them. I just listened to "One Second After" on audio book again and it has some awful outcomes which I believe will come to our country by one way or another.
I hope it happens in the winter as the four feet of snow and cold will help keep the smell down. (harsh)
In all honesty, why do you expect some cataclysmic die off? Greece's economy WILTED, there was some rioting, a couple people died, then it was back to your daily scheduled misery. Prostitution got a lot cheaper, folks begged a lot more but life went on.
I read a heart-rending story of a guy who worked at a food bank in Greece. There was a well-dressed woman standing across the street looking at the food bank and when it was finally getting ready to close she came over and asked for some groceries. The guy insisted on helping her get them back to her place.. which was empty. Emptied out - she had pawned everything.
I can imagine civil unrest, maybe sporadic looting, but so long as the national guard still answers the call and so long as the grain belt can put a slice down in front of everyone, we're not entering mad max terrain unless the zombie virus strikes.
Does Ferguson ring a bell - that was just a taste of animal behaviour. And not because of food shortage, economic depression, natural catastrophe, etc.
edit - perhaps you should check the stats on the rise in suicides in Greece and Italy -
But we've had riots and looting many times over in American history. LA got messed up over Rodney King and yet it's still there.
Nothing like when the day comes that the EBT cards are not loaded - remember Walmart
edit - no die-off - when 50,000,000 on food stamps - just wait until day 3 and 4 and 5
i do think some people will be shocked and horrified if the S&P finally collapses back to 450, but the sun still rises and sets on schedule. how could the birds still sing when my portfolio is down 80%? how dare they!
Pass the fuckn' Bong
U of M sentiment is high because it damn sure better be high after what their parents spent put them through college. But really, what in the hell does a kid student know about business and the real world. All they care about is getting laid and making a grade.
We shall see when the money from the parents reverse mortgages runs out and there are no more high paying jobs in this country. The remaining working people are finding it harder to carry the free-loaders. If you think that the debt we carry can be paid by flipping burgers or community organizing you are in for a shock - maybe even world war when this country defaults.
Number 6 sounds good. When you.ve lost that last beer, before you bash your friends brains out?
Number six sounds good, Bitchez
Logical James....minimum wage is going up next year.....
Is Michigan one of those states that recently made marijuana legal?
Edit....getting laid.
BEEF CURTAINS!!!!!!!!!!!!!
You're right. I'm seeing more shiny new cars around. Most of them are dudded up luxury trim crew cabs in this neck of the woods. I'm still driving my 233k mile Honda with a check engine light on (no smog check here, bad catalytic converter, fuck the EPA).
There seem to be lots of college kids coming back home after finishing college, and they have no job. Spoke to 4 older, but not yet retired, baby-boomers at my local church, and several others at work. Their kids finished their "degrees", and have no job prospects, and no income besides some menial job.
Talked to one recent 23 year old "graduate" about her job prospects, and they happily say "Oh, something will come along" as they live back in their old bedroom of their about-to-retire parents.
The parents say they are going to retire when their kiddos are settled with a decent job, maybe married etc. What they do not realize is that day is further and further away. These people still don't get it. Blinders on, full speed ahead living the same life they led when things were good in the 50's and 60's. And they pass on their Woodstock values to the new generation, duping them in the process.
Fucking pathetic.
Few things have done more damage to our country than the idea that any adult (over the age of 18) should have an individual living situation. The set-up cost (dishes, bedding, furniture, ect) means that our "kids" not only have the strain of the financial dunning from trying to obtain all this stuff (and for which China has benefited) but do not have the support of family members to help watch and raise kids.
Wonder about divorce? Living with extended family means that you can have some alone time, a date night out, ect, without having to pay for and find a babysitter. Wonder about divorce? The financial and emotional strain of trying to do everything on your own is ridiculous. Don't knock families living together; it is how it should be done...we do need bigger houses though. Look at the big houses of days gone by, there was enough room that people felt comfortable living together instead of these little boxes they make now.
"bad low oil prices" = waaaa
Y'all keep whining I'll enjoy saving money.