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"Equities Will Be Devastated" Crispin Odey Warns, Looming Recession Will Be "Remembered For 100 Years"
"I think equity markets will get devastated," warns famed $12bn AUM hedge fund manager Crispin Odey in his latest letter to investors. Having been one of the biggest bulls of this particular central bank artificial-bull cycle, his dramatic bearish tilt (as we discussed what he thinks are the biggest risks underpriced by the market previously), is notable. Finally, Odey fears major economies are entering a recession that will be "remembered in a hundred years," adding that the "bearish opportunity" to short stocks looks as great as it was in 2007-2009.
Odey Asset Management (report for Dec 2014)
The themes I have been outlining since the second quarter of 2014 are now establishing themselves:
A faltering Chinese economy with growth ultimately slowing down to 3%.
A hard landing for those countries plugged into China’s growth - especially Australia, South Africa and Brazil.
A fall in commodity prices bringing with it pain to those heavily exposed. For oil this is the Middle East, Venezuela, Argentina, mid-west USA, Canada, Norway and Scotland.
No one forecast how fast and how far those commodity markets would fall. However, the same people who singly failed to see this coming are the first to say that the benefits of falling prices will outweigh the costs. My problem with such a hopeful outcome is that, in my experience, those that lose out from a fall in their income are quicker to adjust than those that benefit. In that intertemporal space lurks a recession.
For me, the slowdown/recession finds a secondary downturn thanks to the immediate closing down of any discretionary capital expenditure in the affected industr es and countries, something we are only just seeing. This obviously has knockon effects for incomes and employment. At that time the exchange rate is likely to be falling to give some support. In my world this slowdown in the commodity producer’s economy is felt via falling exports back in the beneficiary’s economy, which finds external markets weaken. Again, if I am right on timing, the effect can be great because it is not yet affected by a pickup in spending in the beneficiary’s economy.
As always, that is the theory and markets will show whether it works in practice. In my world, this hit to the world economy is the first experience of a business cycle since 2008. Most investors do not believe we can experi-ence such a downturn. They rely upon Central bankers who they think have solved the problem.
However, let’s also deal with three counters that I currently have to field:
1. ‘How long dare you be wrong?’
2. The opposite. ‘Do you think after a good quarter, this is all in the price?’
3. ‘But isn’t a downturn in the world economy leading to massive counter-measures in terms of liquidity, as en-visaged by Draghi and the ECB, which will push mar-kets and assets higher?’
My answers are as follows:
1. The performance of the fund since I decided that the world would end differently to my previous thinking, which was in March/April 2014, reflects that I have not been especially early in this call. It would have been rather nice to get the fall in oil spot on, but we didn’t.
2. No change in cycle lasts for nine months. This down cycle is likely to be remembered in a hundred years, when we hope it won’t be rated for “How good it looks for its age!”. Sadly this down cycle will cause a great deal of damage, precisely because it will happen despite the efforts of the central banks to thwart it.
3. We need to go back to 2008. We had seen reckless spending and reckless borrowing, fraudulently obtained credit advances and overvalued housing. And yet, de-spite the banks losing a great deal of money and house prices in the USA tanking, we hardly saw a recession in 2009. Why? Because when the Anglo-Saxon central banks lowered interest rates from 5.25% to effectively zero, they put the equivalent of 30% of net income into the hands of the overborrowed. There were other QE measures taken but this was the important one.
Today we get excited about what Draghi is going to with his QE plans for Europe. However, buying government bonds yielding 1.2% does not move the dial for European borrowers. Moreover it is almost impossible with negative short rates of 0.2%, because why would anyone sell a bond to the govern-ment, even if the yield is only 0.4%, to get a –0.2% yield on their cash? It looks like Draghi’s measures will disappoint markets. Faced with a deflationary bust, monetary policy will prove to be but “pushing on a string”.
There will be a strong temptation for individual countries to act independently of each other to soften the downturn. In this regard the story looks like it is only half way through. Russia will necessarily have to introduce exchange controls, and that really quite soon. Australia, where the average wage is over $70,000, while the USA is creating jobs at $28,000, will have to allow the currency to fall further. Japan has shown, under Abe, how it intends to react. ‘Everyman for himself’ puts enormous stress on a world trading system which has watched world trade rise from 12% to 32% of world GNP in little over 20 years.
So, where am I placing my money?
? Firstly, I think equity markets will get devastated. Un-announced business cycles ensured Japan’s stock mar-ket rating fell by two thirds over 20 years.
? Equities are priced for perfection, pushed up by SWF and high yield investors looking for higher yields and better covenants than high yield bonds.
? Commodity-related sectors look unappealing and dangerous.
? International consumer companies look overexposed to EMs.
? Fund management companies look overexposed to the wrong assets, especially EMs.
? Volatility is rising. Not every trade will work.
? Australia is still to see rates down to 0.5% at the short end, 1.5% at the long end, down from 2.5% currently.
? Currency trading is still to make the money. It made money last year as it was where the ‘tyres hit the road’ – equities are just the residual.
? Equity markets will struggle to understand the quarterly translation and transaction effects of these currency moves on corporate profits, starting with Q1 2015.
We have seen though some strange things, with economics 101 turned on its head. We’ve seen that falling prices produce more supply, as the biggest producers see that they can take market share and use the opportunity by reducing average costs through excess production. We’ve seen that in the oil, minerals and iron ore industries. We have also seen in the last couple of years that as bond yields fall, governments are able to issue more debt.
But this time round the problem we have as well is that politics will start to rear its head and we are left to deal with politi-cians who are increasingly critical of the capitalist system’s ability to allocate capital and provide for society.
For me the shorting opportunity looks as great as it was in 07/09, if only because people are still looking at what is hap-pening and believe that each event is an individual, isolated event. Whether it’s the oil price fall or the Swiss franc move, they’re seen as exceptions.
After the 1987 crash, a friend of mine, then a young Director of Sotheby’s, was sent to consult an old Partner who had been at Sotheby’s during the 1930s and was still alive, albeit in a nursing home. My friend asked the question “What was it like in the 30s?” and the man replied “It was like being bitten by a tarantula.” My friend didn’t really understand that, but later on in the conversation the old Partner said “A spasm of activity followed by a death.”
My point is that we used all our monetary firepower to avoid the first downturn in 2007-09, so we are really at a dangerous point to try to counter the effects of a slowing China, falling commodities and EM incomes, and the ultimate First World effects. This is the heart of the message. If economic activ-ity far from picks up, but falters, then there will be a pain-ful round of debt default.
We already have volatility across asset classes and as I say, equities are the residual. There is a precious little earnings growth ex-Japanese exporters and we have now reduced our US cyclical exposure as we expect the commodity-induced recession in the mid-west to effect the resilience of the greater US economy. In Europe, we are half way through the write-off process, having written off half as much as the US. Draghi will disappoint and this may cause the first Euro rally given the fall from €1.25 to €1.15 in a month.
We are in the first stage of this downturn. It is too early to see what will happen – a change of this magnitude means the darkness and mist is very great. We will make some mistakes but with our thinking we won’t make the major mistakes. The problem is where you stand – I am amazed to see so many are fully invested given that equities are already fighting the downtrend. Mid and smallcaps have moved into bear markets and much relies on large caps to keep the whole thing going and they are very exposed to international trade.
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Eye of the Tiger man, eye of the Tiger.......
https://www.youtube.com/watch?v=btPJPFnesV4
Hmmm, might have to go contrarian here.
SYRIZA
If only this market was that simple. Just buy all the short triple ETFs out there, sit back in the massaging La-Z-Boy, crack open a Strongbow six pack, take a hit on the Vaporizer loaded with something so fine, and wait for the ship to dock.
I had that dream and acted on it just b 4 the FED decided to keep Warren whole back in 08 09.
I have yet to wipe the blood off the floor. Double down and do it again???
If I were Seneca, maybe. But stoicism has eluded me. I'm already breaking out in hives just thinking about it.
"Shortin' markets only exist when there's suitable margin." ~ Doc Holliday before taking his last drink.
i've actually been able to write down my losses on the dow puts that would have made me rich, if it had not been for qe1.
i will never forgive this. the federal reserve should NOT be allowed to print trillions without voter consent.
i just did some puts on dow and made a few bucks.
don't fight the fed. they will print until it explodes. the day jamie and lloyd tell the fed 'we're short - pull the plug' will come. but when. you or i will never know.
tomorrow - all bullard has to say is 'only xx per month for a year'.
or like draghi 'only xx per month for as long as it takes'. they will buy every asset possible.
then - what do you own? a few shares in apple, THAT I PROMISE will be worthless in 5 years?
watch.
VIXY kicked my ass and SDS ripped my head off. Ain't goin' back, no sir.
Thank You ZH.
This guy writes in "gibberish quatrains". He still doesn't seem to be able to get his head around the USD losing reserve currency status and the loss of purchasing power it's going to go through. I would much prefer to be invested in countries that produce commodities, as they have tangible value.
Some commodities may move lower, but I still like the R/R on that bet over being long anything with ink on it.
When the fiat system implodes commodities are where the value will be.
i'm sure you know much more about it than he does. How many Billions is it you manage in your garage in Adelaide, again ?
For such a high supposed IQ, you sure seem to have a serious geographic memory deficiency. WTF? My business is in the States. My investment property is in Northern Queensland.
A fucking monkey could have made money in the markets over the last 6-7 years with the Fed. put backing them.
It really Sounds like Hank Paulson's ultimatum to the politicians. Price, print, print. Motherfuck!
Let's not Candy-Coat it. Let's call it what it is: A Depression!
"Lets cll it what it is: A depression"
What's the diff between a depression and a recession?
A recession is when we lose our jobs
A depression is when bankers and fund managers lose their's.
"Lets cll it what it is: A depression"
What's the diff between a depression and a recession?
A recession is when we lose our jobs
A depression is when bankers and fund managers lose their's.
"Mid and smallcaps have moved into bear markets" he says
Small caps (IWM) is down less than 3% from it's all time high. Is a 3% decrease considered a bear market now?
Depends on the shape of the chart curve and the open interest and the Contago in the futures and the sell ratios in the Options Markets; but to simplify; Yes. And when i'm proved wrong, I'll short the next rally; because you see, it's just a matter of time.
Fuck central planers they are a curse on all life.
This outcome maybe inevitable in historical terms. First, we have come to think we know more about economics, macroeconomics, than we do,( in all probability a major contributor to what is likely to happen soon). THIS this is bad history as much as an abuse of economic insight. In the past civilizations did not understand the social effects of economic policy -- and as a result wrote or recalled bad economic cause and effect as obvious, simple history. Most did not understand "cause" and knew almost nothing about their possible relationship with "effects'. We learned little about linkages and how they occur in human affairs, events are so seperated in time that we do not learn much from restrospective analysis. So much for human ignorance, but it is important: time matters.
What is painful is that while we know we err regularly, we have to know that it is happenstance, not ignorant error, that damns our affairs for the most part. The happenstance in economics at the Federal Reserve comes from lack of experience and polictics as much as from poor economic insight. The ruin of our civilization will arise from bitter disappointment in the errors made in this century. The we are entering a learning period which wil embitter many people about much bad politics and worse outcomes matter. It is a good forcast to expect a major turn of events. But a war is just as probable and it too will give us more bad history. This is the way of mankind. Nothing new is happening, and we will not learn much from events.
The waiting for the shoe to drop is worse than being clipped in a drive by. LOL
They don't ring a bell at the top; but the top is probably already in; so you can short any rally in the S&P500. I'm already short. notice the futures boards at the CME for ES contracts are very bearish; the further you go out in months the lower the price the market is willing to pay for an S&Pconttract. and this slope is steep. The professionals who use this trade are not waiting why are yoiu ?
Just another banker manipulator trying to manipulate the market..someone bring a nail gun
There is only one way the next bust will be remembered in 100 years - if it brings on World War III.
And this is exactly what I expect. The full employment from a true global total war is the only way to reflate the economy after the most epic deflationary bust ever.
Mozart's Birthday
International holocaust remembrance day
By "devastated" - I'm assuming he means GOING TO ZERO! And let's call it what it is, and what it's already been for 5 years -
THIS IS A GLOBAL FUCKING DEPRESSION!!!!
Stocks are expensive now. So a 1987 style crash does not seem too unlikely to me.
But Crispin Odey does not explain why stock prices should not pick up rather soon again due to zero, or near zero, interest rates. Of course, profits may shrink due to slowing demand. Some companies can not shrink their fixed costs fast enough and may therefore suffer in a slowing economy. But as long as interest rates are as low as they are now I suppose that stocks will remain expensive. The p/e ratios should stay high. Drastically reduced stock prices over a longer period of time should take increased interest rates. And that won´t happen unless central banks lose control. And he doesn´t say that will happen in the near future.
To me, it seems more likely that slowing demand will continue to decrease the employment rate among working age people in many countries. But so far that has not affected corporate profits to a substantial extent, maybe with the exception of companies like Sears in the US. Companies that can adjust their fixed costs to reduced demand among consumers in the US and Europe should not suffer substantially. Furthermore, lower oil prices in the near future should offset some of the slowing the demand caused by lower employment rates.
Is there anyone who think I´m wrong? And why? Does someone think that interest rates must be lowered even further (which may be hard today) in order to make the stock market pick up again? Why?
There's is no why. Or rather the "why" is already in place. Read the 'madness of Crowds" by what's his name. somebody will correct me; or you can find it. It's quite possible the top is in; I'm already short the S&P500 abd making money; if I get stopped out at zero loss; i'll short it again. So can youi if youi wish.
Seems like you couldn´t answer my question "why?". At least, you could not come up with a good answer.
“Why? Because when the Anglo-Saxon central banks…”
Who is “Anglo-Saxon”…. LOL I bet some people are gonna want to kick the bleep out of 'Anglo-Saxon'.
“with economics 101 turned on its head”
Not really. People use words. Words have meanings.
W. Bush clearly stated, "I had to abandon free market principles in order to save the free market system."
"Zio-Saxon" banks."
Anglo-Saxon is the name of a real estate company in Israel. It's not at all disturbing to see for-sale signs saying "ANGLO SAXON" on every bit of property in Israel. http://www.anglo-saxon.com/
pookie, "Anglo-Saxon" is a quite common term, often used, in the rest of the world
Credit where it's due. Back in 2011 before leaving Fox News, Glenn Beck said there's deflation before hyperinflation, the currently parroted mantra, he did state, years in advance what your most die hard gold bug refuted at that time.
Glenn Beck, hate him or love him, has said many things. Now he's pressing on the HI side of things again...
http://www.glennbeck.com/2013/10/02/david-buckner-explains-why-the-u-s-c...
I'm surprised state department wet boys didn't take Beck out when they took out Breitbart.
Beck must know when to stop raging against the machine before they come for him too.
Dont forget the Johnathan Cahns prediction of collapse before the start of the next (final) 7 year period (tribulation). Not enough God chat on this site. Time people start looking at things with respect to prophecy....
There's some hard dates mentioned. The entire series is compelling if you can get past what seems like a stretch of interpretations, either way, when ZH libertarians, biblical Revelations, and "crazy" rabbi's are in in alignment, whatch for stuff to happen...
https://www.youtube.com/watch?v=MsPyne-kjoA
Check the related vids.
i have to admit that there are some disturbing parallels with the bible's end time stories. my latest favorite story is the significance of the 4 eclipses occurring on jewish holy days in a row. the last one is 10/15-20? of this year.
no matter to me. i am in the safest place in the world and will be one of the 144000 surviving people left. i know it. that is why i am all in on aapl. i will own it as the only surviving shareholder AND i will be ceo.
Do not be fooled.
Any parallels you see are the work of the devil. Since 99% of Christians believe 100% of the Bible (I am a Christian who believes the opposite) then all the devil needs to do is copy the Book of Revelations and VOILA! Satan convinces hoardes of well-meaning bible-thumpers that the end has arrived as God predicted in the Bible.
<<i have to admit that there are some disturbing parallels with the bible's end time stories.>>
Or it could be that a satanic cult secretly rules the world, and they are trying to play out the prophecies from the devil's side. That can't be the whole story, though. It would have to be some kind of miracle for a 2000 year old vision to involve a bunch of apparently supernatural phenomena which are just now becoming technologically possible. And do the satanists think they can change the ending?
I can not attest to what satanists think but I would expect them not to worry about the ending because they plan to see it through.
I would expect them to dress up as the second coming and continue to fool enough folks which is objectively already happening.
<<It would have to be some kind of miracle for a 2000 year old vision to involve a bunch of apparently supernatural phenomena which are just now becoming technologically possible.>>
I think you are looking at things the wrong way. People always thought the end of times was imminent and could have made the same observation you just did.
The devil is everywhere.
Demons openly play on TV –
Google something like “upside down shadows, bet awards”
If you are lazy like me – notice the shadows are inverted. Ta-dah!
http://necolebitchie.com/2015/01/kanye-talks-racism-slave-mentality-rela...
America fuck yeah-team america
https://www.youtube.com/watch?v=IhnUgAaea4M
Meanwhile the USS Stennis - the Empires premier warship- is loading up with millions of pounds of armaments with its crew being activated for full on battle. The powers that be know the "capitalist" system theyve had in place for the last 60 -70 years has fully run its course - now its time for WWIII. Meanwhile the rest of us plebes have to fend for ourselves
lot of people are ready for "rapid" deployment. just contingency planning, but they are sensitive to the hornet's nest that has been disturbed.
Have youi seen any footage of what Modern Torpedos do ? Not your dad's torpedo from WW11; One of them will break it's back and sink it. And the Chinese popped up in the middle of a naal war game exercise last year in a Submarine, whch we did not detect; which we did not detect, and waved at the US Carrier, and then submerged. ?? Ships have been obsolete since 1941.
the navy is useless in a real shooting match but it is effective against anyone without much of a military, the normal prey of the usa.
against china and russia the ocean is a death trap for any floating flotsam. submarine warfare is another matter.
the navy is useless in a real shooting match but it is effective against anyone without much of a military
Good Christ, have you ever heard of WWII?
Yes; it consisted of Air superiority and Submarines. And a lot of expensive scrap iron.
Iran has Diesel electric Submarines that can sit on the bottom for a week; thanks to modern Co2 recycling, and bottled oxygen; in completel silence. they have 21" torpedo tubes and our warhead designs were stolen, or rather sold, a long time ago. they can also re-float from the bottom; silently; without making bubbles; and fire the homing torpedo when they hear the prey, ( it's very noisy), completely submerged.
Some people have antiquated thinking. ‘”hand grenades and horseshoes”…. And tactical drones outfitted with nuke devices a few miles over.’
Yes, submarines are dangerous weapons, and can get in and sink heavily defended targets, but the submarine services of ALL major combatants in WWII had the greatest casualty rates of any other service for a reason, namely, once a sub is detected, it is dead, and generally goes down with all hands. And once it fires a weapon, it is detected, so its kinda like a suicide bomber or a kamakazi if attacking groups of ships that can shoot back. Surface ships are not obsolete at all. I doubt carriers are either, though I do not want a major war to find out for sure.
A modern battle group ain't your dad's WWII battle group, either. There are a lot more anti-submarine assets out there screening the battle group than in WWII such as ASW helicopters, specialize ASW fixed wing aircraft, and lots of sonobouys and passive and active sonar arrays mounted on vessels hulls and on towed arrays.
Finally, the US Navy now has an anti-torpedo torpedo which has worked fairly flawlessly in tests, at least.
We would also not know if the chinese submarine was undetected before surfacing. The battle group or ASW commander may have decided not to give away his detection capabilites to the Chinese, for instance, since this is peacetime and there is no real threat from them. Might as well let them get cocky and not work on developing their kit or skills.
Well, sir, then only use your subs against Sweden. No worries about detection in those waters. Problem solved.
Another thing the US Navy probably did, when the USS Donald Cook was overflown with the hocus pocus 'Khibiny', was have the ship pretend that it disabled all radars, control circuits, systems, information transmission, etc. Plus, I would have had a couple of the crew dive into the Black Sea for special effect.
And them dumb old Russkies believed that their Mickey Mouse contraption disabled an Aegis Missile Cruiser.
Wait until there's a hot war and they try that.
Ha ha ha ha
the last act of the desperate bankers will be the launch of the 1st cavalry, treasury division, the daddy warbucks. helicopter money for one and all coming to you in the form of a huge tax cut soon.
blah
Am I the only one to find his overuse of hyphens distracting?
100 years of austerity for 50 years of fake debt fueled growth which acted only to transfer all of the worlds wealth to themselves.
This is the end result, where a conference room full of men control more wealth than everyone else on the planet.
Austerity for you and me - not them.
He's distracing without the hyphens.
Fuck equities, HFT and the horse they rode in on!
How about "Preppers" like these!
http://www.ibtimes.co.uk/super-rich-hedge-fund-managers-buying-boltholes...
Remembered for a hundred years, after they discover this civilization a million and a half years from now. Recession, depression, deflation, inflation will only be words that rhyme in some third graders PhD Thesis.
This was an interesting listen. Play it for background music:
https://www.youtube.com/watch?v=xx0TwWIWJF8&feature=youtu.be
Lets see now, nuttyyahoo is on the way to lay down da war plans. Not de plane, but de plans. This number seven thingy comes up again. IMF hag speaks to sevens and their numerological significances. Billionaires are told what is coming at Devos and to get clear if they can. Like, get sealed. The alignment of some planets are happening and possible incoming hitting at some point in the future. There is a lot of other hooky-boo going down. Hummm...
On top of all that, as was well discussed here, the jewish 7th year thingy comes up again and all at the same time. Wowie, this could make for an interesting report by the moar astute paying attention here. Like, almost every piece of the puzzle is here to decipher the possible near exact timing for that huge world crash of the economy. How does that crash of currencies and economies go down with the massive war mongering going on? Hummmm.....
https://socioecohistory.files.wordpress.com/2015/01/economist_magazine_jan2015.jpg
The greater question is and always the every day question, what will happen next to distract the nations of people from this planned to crash event or better, what kind of false flag events will cause greater changes? Paging crises actors! Time to die for babylon. A two part bio nanoagent named Mithra or something even more stupid that kills off the worlds people all at once? Sad that such craziness can even be imagined in a normal world.
What will be that “pearl harbor event” part seventeen point O to start the herd stampeding towards the supremest govt created bad guys to make moar war on next? Seems everyone already knows. How it is allowed to happen, is beyond insanity. Can you say, bank runs? Geeze, it's all so farked up.
War is always the first stupid distraction choice of the woar profiteers that start them. Just what else the garbly mouthed dork-face lying disseminaters of propagandology and dis/mis-information will come up with next to further the evil bankster plans for world domination using the money-god and terror as described they would do well in the protocols, is anyones best guess. Tail wags Dog.
The obvious is becoming self evident as most turn away to avoid it. Suddenly, the fear takes hold of the mind. How to manage your fear by breathing deeply is the best meditation to learn for the coming events that almost seem to be unavoidable. Global disaster?
Sure, there could be a cleansing of the evil houses that create these events and all their evil minions, but will the mass mind wake up in time to turn the ship into that direction of safety, or no? Does the program to distract people from earth changes using war, economic scams, the moneygod, and false flagology occur as some kind of stupid game?
The game of monopoly gets boring eventually and it becomes idiotic to continue to play it knowing the banks always win in the end. How long it takes to bleed you dry is only a matter of tick-tock trickery, and the roll of the dice. How many can remember that joyful feeling of realizing this early in the game and getting up and walking away from it, free of the ball and chains of stupidity? A walk in the park offers far better insights, and entertainment. A flowing river is good for your health.
CHOOSE TO DISCONNECT FROM THE MATRIX!!!
Another real question to ponder is, if this jewish 7th year thingy happens and has provably happened before, can it it be changed? Why does it all seem to add up?? How does it effect the world and the people??? Were it all fiction and fantasy science, it would be as if the lizard things have taken over the entire planet by using the one material THING that most value moar than what comes from their own hearts.
Yes, it's the moneygod tool. They are hard working at using IT to eliminate the awakening masses of human beings. A smart technology to eliminate the simple biology of earth known as, man. World war is cheaper than rebuilding and learning to live natural self-sustaining lifestyles. The babylonians do not care for you, or your families. There must be world population elimination?
http://finance.yahoo.com/news/mccain-ready-u-troops-ground-175200999.html
Will these alignment dates be a time to be extra vigilant? Does the 7th thingy, Hindenburg omen, and some planets all align up for that perfect attack time in history? Does it really matter if greater forces are at work?? When is the new moon, anyways? Seems there is a rich history of how all this operational evil goes down, no? Oh yeah, two previous world wars in which the losing countries went through the same exact steps America is being setup to going in now.
https://www.youtube.com/user/Suspicious0bservers
And once again nattyyappy head, the answer is NO! You cannot attack Syria or Iran for any kind of your deceptive tricks or blackmailing of the idiots that let you do it. Were it ever found in a real court of law that you and your filthy slime are actually doing bad things to political leaders, or blackmailing them as is the term, you would be found guilty and sentenced to death forthwith, post haste. The lowest kind of hells evil has to be attached to those who stab other innocent people in the back. True this for all those others who are involved in the criminality of murder for the corrupted puppet masters you serve on your knees. Deception is of the devil/evil. No moar, no less.
Choose well oh babylon who you call master. The reckoning is coming and it just might have something to do with a seven, eleven, or maybe even a Feb 2 date. Who knows in this corrupted whackie-doo matrix of evil wins, and goodness looses most of the time. There once was upon a time when children were taught to be dreamers, and goal seekers. To plan careers, families, and white picket fences. Next, it is survival Eastern Ukraine style. May God help those poor suffering folks over there, for they are teachers of tomorrows survivor class. Sure did not want to grow up in a country where the govt declares war on it's own people. Oh, wait?
Sadly, in these changing dayz of darkness run rampant, most semi-conscious beings only know how to be totally controlled by the portable iEye of Sauron they are visually-consciously glued to most all days. A pencil becomes an antique today...the babylonic-Borg gets stronger.
https://www.youtube.com/watch?v=LcpXflPqbzg#t=1498
Something larger and greater is definitely back of it all. Where there is a force of energy, a greater force of energy is. There is nothing babylon can do to stop real earth changes. Seems that the constant has now become about how to distract from, and obfuscate the impending planetary events. It is a all mixed up and sideways three-D matrix in which most seem perfectly mindlessly content to run with it until they will find themselves in mid-air wondering, did they actually consciously open-eyed all jump off the cliff singing bahhhhhhh, bahhhhhhh, bahhhhhhhhhhh?
I don't usually read such long posts, however I enjoyed your refreshing and optimistic perspectives.
+1
Merci'
Back atcha!
Sometimes the fresh ground costa rican coffee beans are stronger than usual.
It's just good Joe.:
https://www.youtube.com/watch?v=k5JkHBC5lDs
Easy on the java sparkle.... The thing is it is a passing phase.... 4th turning kondratieff etc... The ones that are going to work out will be who they will be. Our time has come and gone we squandered our birthright on cheap gadgets and pleasure. We GEF no pass to the future but those who must pay for our disregard and face the trial will go on. They will call it what it is the time our parents fucked us for sport.
beware the ides of MARCH.
Inappropriate hyphen usage
He is not a goldbug, didn't mention PM's.
General bankster rule #?: Recessions, and depressions, are when the people learn how much was stolen from them by the banksters during the boom.
The banksters need to repay us.
The bloodbath is less fun after the blood starts to get cold enough to coagulate.
Travel lite. Get a vesectomy and get out of debt, quick.
Triple digit ups and downs sound like 2007/2008 all over again.
Here is chart which shows how overleveraged the US is.
http://michaelekelley.com/2014/12/20/leveraged-loans-predict-crash/
Here is how to prepare for the worse.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Thanks
Greenspan, Bernanke, and Yellen couldn't even correctly remember the Great Depression of the 1930's.
I like this guy already. Lots of recent divergences, like banks 8% under broad indices over 6 months, and here retail up 14% vs. banks down 4% over the same period, tells me there's lots moar equity index trouble right here hiding in plain sight. So just where do these bullish stock jockeys think they are going without taking the financials along with them?:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=xrt&insttype=&freq=1&show=&time=7
((((YAWN)))))
Listen to Jim Willie when you get a chance,he's on SilverDoctors;http://www.silverdoctors.com/
And Jim Rickards says Brace Yourself,she's headin our way;http://www.silverdoctors.com/jim-rickards-a-perfect-storm-brace-yourself...
and what shall we call it?
How about if we named it after a happier time?
Lots of mechanics in this analysis. I'd hate to have this guy in the crowd if I was the emperor and walking around naked.
Crispin advising on how to trade a downturn ? Short the markets at today's margins ? C'mon, the Predators know full well that the muppets are so drugged that they are pleading for more..still plenty of juices around.
spiral galaxy said, "Actually, I have a lot a faith in the youth today in that I work with them and they are an integral part of my business. They are well educated, ambitious and hard working."
elipse to spiral galaxy: "Which planet are you on in which spiral galaxy? I envy your conditions. Is there room there for another visitor?"
remember this?
https://www.youtube.com/watch?v=44J-qL4W1Jo
Listen to Kud-blow (sniff, sniff) talking about how falling energy/gas prices should help the consumer early in the video... ain't a damned thing changed my children.
In honor of the hootenanny late nite third shift night watchmen owls in attendance.:
https://www.youtube.com/watch?v=DIaPIy4Mddg
If there is a God, Obama, FB go first
This man has been hired to take on Goldman Sachs , he is visiting their head office next week. https://www.youtube.com/watch?v=BEG-ly9tQGk
After Robin skewers the hood$ it doesn't really matter...just crank it!
https://www.youtube.com/watch?v=urzWY6sqVGw
I would have titled this story " "Equities Will Be Fried and Crispy" Crispin Odey Warns, Looming Recession Will Be "Remembered For 100 Years"
We need some outright humor rather than all this sarcasm.... Crispy is just kiddin right?
Yo, Crispy! Lots of your kind of talk posted here, been that way for several years. Why don't you just let us know when you make the trade big guy?