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"It's Not The Weather, Stupid"
It's the economy!
While above the 27 year average, Snow fall this year is 30% below last year's.
Source: Goldman Sachs
So, while it helps the narrative and provides an easy crutch for Keynesian apparatchiks from being forced to admit their philosophy's utter failure; as the collapse in oil, the plunge in world trade, and the "worst since Lehman" drops in macro data simply do not fit the 'weather' meme...
Perhaps, just perhaps, there is only so much future demand that can be dragged into the present before the whole ponzi collapses...
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Of course it's the weather...it's a shit storm!
Going to need a better umbrella.
Don't tell us, tell the penises at CNBC
It all depends opon 'WHETHER' definition of 'WEATHER'... is the same definition of what 'IS' is...
I'm READY for Hillary! 2016!
http://4.bp.blogspot.com/-hGfqBaO9sI0/Uood8EVzQKI/AAAAAAAAGIM/e7ipNwD-l-...
A bullshit storm
Like corn through a goose!!
Something to do with collapsing credit (and debt) creation, causing collapsing demand, highlighting massive overcapactiy without the flow of new credit...
http://econimica.blogspot.com/2015/03/are-seeds-of-depression-sprouting.html
Precisely why bad debt and bad actors need to clear and go to prison/bankrupt, respectively. Economics is not a hard science, it's a social science, period. Demand is a pretty fucking generic term, be specific. With 7+ billion people all competing for a higher standard of living and most living in sub-standard conditions, there is plenty of demand for all the real resources that make a high standard of living possible. Just because new credit is not being created as fast doesn't change the fact that there are already far more paper claims on real goods and services than the assets/goods/services that can actually be delivered...
..the can kicking has work so far because those paper claims have not left CB balance sheets... ...yet, but all stimulus is fungible motherfucker. global weimar, tick tock...
Demand for private parties is met, generally, via two means...1, spending wages/profits and/or savings, or 2, credit. Likewise, governments can tax more and spend more or use credit / debt.
The creation of debt globally is slowing (private parties falling back to what is acheivable via savings/wages) and the wrong kinds of debt (primarily government via debt, not taxation) are taking over. Still, insufficient global credit means insufficient demand means excess capacity. Not sure what's off-putting there? I have no dog in the fight wanting more or less, just stating without the continued flow of credit / debt creation, the system is likely falling into a depression.
Define "depression". I'd argue by real accounting standard we have been in one for quite some time.
Please, you still think that somehow these bullshit eCONomic "laws" are relevant when they aren't. Quality of life is important. i know of many communities with great resources and great people that most wall street bankers and financiers would say do not have good economies. Fuck em. Simply put "full faith and credit"...
no more faith means no more credit for you motherfucker...
Laws,
my thinking is a depression occurs when long overbuilt, over-credited capacity meets significant, sustained insufficient demand creating an ongoing imbalance against existing capacity...capacity premised on continued growth of credit and debt and typically utilizing high ratios of leverage.
Governments have been trying to step in by creating money from nothing to maintain "demand", continuing not just to maintain existing capacity but maintain growing capacity...but it ain't working. And now things will likely get really serious as the excess capacity is so large and so leveraged when paired with existing wages, savings, tax revenues that the spiral down and the unwind of bad debt and leverage ratios could be the stuff of mad max. Govermental and CB attempts to fill the collapsing credit void is the great fear and the hyperinflationary nightmare.
Why advanced economy demand is waning...
http://econimica.blogspot.com/2015/02/fundamentally-flawed-chapter-1-advanced.html
and bad demographics
http://econimica.blogspot.com/2015/02/fundamentally-flawed-chapter-4.html
Clearly. Greed. Both sides. Profit and entitlement. Equally responsible, and ultimately vulnerable. The capitalist condition.
At some point, all those paper claims on real goods and services will start seeking them out...
Damn the torpedoes full speed ahead! Man all pumps! We've got this... Capt. Jack Yellen
what happens when you solve a bubble burst by recreating the bubble...and not the incomes!
sub-prime is the new tier 1... don't sweat it scro, we're good for it!
Remember it was failed back door credit default default swaps that took them down not lending.
Appraisals still fake as ever special loans for flippers Countrywide only had 6 percent of its loans subprime the CEO himself said so and stated even if everyone of them went bad it still would not bring us down.
More sub prime paid up than banks they used my tax money.
Instead of the bankruptcy court where they belonged so I could buy their assets from the court.
But it is your story you can tell it how you want.