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Bill Gross: "This Is All Ending"

Tyler Durden's picture




 

Having called for the end of the great Bund rally (and so far nailed it in dramatic fashion), Janus' Bill Gross sees more exuberance coming to an end soon,

There is accumulation there is responsibility after these there is unrest great unrest
 

Having turned the corner on my 70th year, like prize winning author Julian Barnes, I have a sense of an ending. Death frightens me and causes what Barnes calls great unrest, but for me it is not death but the dying that does so. After all, we each fade into unconsciousness every night, do we not? Where was “I” between 9 and 5 last night? Nowhere that I can remember, with the exception of my infrequent dreams. Where was “I” for the 13 billion years following the Big Bang? I can’t remember, but assume it will be the same after I depart – going back to where I came from, unknown, unremembered, and unconscious after billions of future eons. I’ll miss though, not knowing what becomes of “you” and humanity’s torturous path – how it will all turn out in the end. I’ll miss that sense of an ending, but it seems more of an uneasiness, not a great unrest. What I fear most is the dying – the “Tuesdays with Morrie” that for Morrie became unbearable each and every day in our modern world of medicine and extended living; the suffering that accompanied him and will accompany most of us along that downward sloping glide path filled with cancer, stroke, and associated surgeries which make life less bearable than it was a day, a month, a decade before.

Turning 70 is something that all of us should hope to do but fear at the same time. At 70, parents have died long ago, but now siblings, best friends, even contemporary celebrities and sports heroes pass away, serving as a reminder that any day you could be next. A 70-year-old reads the obituaries with a self-awareness as opposed to an item of interest. Some point out that this heightened intensity should make the moment all the more precious and therein lies the challenge: make it so; make it precious; savor what you have done – family, career, giving back – the “accumulation” that Julian Barnes speaks to. Nevertheless, the “responsibility” for a life’s work grows heavier as we age and the “unrest” less restful by the year. All too soon for each of us, there will be “great unrest” and a journey’s ending from which we came and to where we are going.

A sense of an ending has been frequently mentioned in recent months when applied to asset markets and the great Bull Run that began in 1981
 

A “sense of an ending” has been frequently mentioned in recent months when applied to asset markets and the great Bull Run that began in 1981. Then, long term Treasury rates were at 14.50% and the Dow at 900. A “20 banger” followed for stocks as Peter Lynch once described such moves, as well as a similar return for 30 year Treasuries after the extraordinary annual yields are factored into the equation: financial wealth was created as never before. Fully invested investors wound up with 20 times as much money as when they began. But as Julian Barnes expressed it with individual lives, so too does his metaphor seem to apply to financial markets: “Accumulation, responsibility, unrest…and then great unrest.” Many prominent investment managers have been sounding similar alarms, some, perhaps a little too soon as with my Investment Outlooks of a few years past titled, “Man in the Mirror”, “Credit Supernova” and others. But now, successful, neither perma-bearish nor perma-bullish managers have spoken to a “sense of an ending” as well. Stanley Druckenmiller, George Soros, Ray Dalio, Jeremy Grantham, among others warn investors that our 35 year investment supercycle may be exhausted. They don’t necessarily counsel heading for the hills, or liquidating assets for cash, but they do speak to low future returns and the increasingly fat tail possibilities of a “bang” at some future date. To them, (and myself) the current bull market is not 35 years old, but twice that in human terms. Surely they and other gurus are looking through their research papers to help predict future financial “obits”, although uncertain of the announcement date. Savor this Bull market moment, they seem to be saying in unison. It will not come again for any of us; unrest lies ahead and low asset returns. Perhaps great unrest, if there is a bubble popping.

Policymakers and asset market bulls, on the other hand speak to the possibility of normalization – a return to 2% growth and 2% inflation in developed countries which may not initially be bond market friendly, but certainly fortuitous for jobs, profits, and stock markets worldwide. Their “New Normal” as I reaffirmed most recently at a Grant’s Interest Rate Observer quarterly conference in NYC, depends on the less than commonsensical notion that a global debt crisis can be cured with more and more debt. At that conference I equated such a notion with a similar real life example of pouring lighter fluid onto a barbeque of warm but not red hot charcoal briquettes in order to cook the spareribs a little bit faster. Disaster in the form of burnt ribs was my historical experience. It will likely be the same for monetary policy, with its QE’s and now negative interest rates that bubble all asset markets.

But for the global economy, which continues to lever as opposed to delever, the path to normalcy seems blocked. Structural elements – the New Normal and secular stagnation, which are the result of aging demographics, high debt/GDP, and technological displacement of labor, are phenomena which appear to have stunted real growth over the past five years and will continue to do so. Even the three strongest developed economies – the U.S., Germany, and the U.K. – have experienced real growth of 2% or less since Lehman. If trillions of dollars of monetary lighter fluid have not succeeded there (and in Japan) these past 5 years, why should we expect Draghi, his ECB, and the Eurozone to fare much differently?

Because of this stunted growth, zero based interest rates, and our difficulty in escaping an ongoing debt crisis, the “sense of an ending” could not be much clearer for asset markets. Where can a negative yielding Euroland bond market go once it reaches (–25) basis points? Minus 50? Perhaps, but then at some point, common sense must acknowledge that savers will no longer be willing to exchange cash Euros for bonds and investment will wither. Funny how bonds were labeled “certificates of confiscation” back in the early 1980’s when yields were 14%. What should we call them now? Likewise, all other financial asset prices are inextricably linked to global yields which discount future cash flows, resulting in an Everest asset price peak which has been successfully scaled, but allows for little additional climbing. Look at it this way: If 3 trillion dollars of negatively yielding Euroland bonds are used as the basis for discounting future earnings streams, then how much higher can Euroland (Japanese, UK, U.S.) P/E’s go? Once an investor has discounted all future cash flows at 0% nominal and perhaps (–2%) real, the only way to climb up a yet undiscovered Everest is for earnings growth to accelerate above historical norms. Get down off this peak, that F. Scott Fitzgerald once described as a “Mountain as big as the Ritz.” Maybe not to sea level, but get down. Credit based oxygen is running out.

At the Grant’s Conference, and in prior Investment Outlooks, I addressed the timing of this “ending” with the following description: “When does our credit based financial system sputter / break down? When investable assets pose too much risk for too little return. Not immediately, but at the margin, credit and stocks begin to be exchanged for figurative and sometimes literal money in a mattress.” We are approaching that point now as bond yields, credit spreads and stock prices have brought financial wealth forward to the point of exhaustion. A rational investor must indeed have a sense of an ending, not another Lehman crash, but a crush of perpetual bull market enthusiasm.

asset prices may be past 70 in market years, but savoring the remaining choices in terms of reward risk remains essential
 

But what should this rational investor do? Breathe deeply as the noose is tightened at the top of the gallows? Well no, asset prices may be past 70 in “market years”, but savoring the remaining choices in terms of reward / risk remains essential. Yet if yields are too low, credit spreads too tight, and P/E ratios too high, what portfolio or set of ideas can lead to a restful, unconscious evening ‘twixt 9 and 5 AM? That is where an unconstrained portfolio and an unconstrained mindset comes in handy. 35 years of an asset bull market tends to ingrain a certain way of doing things in almost all asset managers. Since capital gains have dominated historical returns, investment managers tend to focus on areas where capital gains seem most probable. They fail to consider that mildly levered income as opposed to capital gains will likely be the favored risk / reward alternative. They forget that Sharpe / information ratios which have long served as the report card for an investor’s alpha generating skills were partially just a function of asset bull markets. Active asset managers as well, conveniently forget that their (my) industry has failed to reduce fees as a percentage of assets which have multiplied by at least a factor of 20 since 1981. They believe therefore, that they and their industry deserve to be 20 times richer because of their skill or better yet, their introduction of confusing and sometimes destructive quantitative technologies and derivatives that led to Lehman and the Great Recession.

Hogwash. This is all ending. The successful portfolio manager for the next 35 years will be one that refocuses on the possibility of periodic negative annual returns and miniscule Sharpe ratios and who employs defensive choices that can be mildly levered to exceed cash returns, if only by 300 to 400 basis points. My recent view of a German Bund short is one such example. At 0%, the cost of carry is just that, and the inevitable return to 1 or 2% yields becomes a high probability, which will lead to a 15% “capital gain” over an uncertain period of time. I wish to still be active in say 2020 to see how this ends. As it is, in 2015, I merely have a sense of an ending, a secular bull market ending with a whimper, not a bang. But if so, like death, only the timing is in doubt. Because of this sense, however, I have unrest, increasingly a great unrest. You should as well.

 

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Mon, 05/04/2015 - 08:14 | 6057925 VinceFostersGhost
VinceFostersGhost's picture

 

 

I just traded my Bitcoins for gold.

 

I'm out!

 

I might get some nickels later.

Mon, 05/04/2015 - 08:14 | 6057933 keremetski
keremetski's picture

I need no stinking Bill Gross to know this is the END.

Mon, 05/04/2015 - 08:24 | 6057958 negative rates
negative rates's picture

You never hear of him complaining about the 14% interest rate, or ending the bush tax cuts, but increase my obamacare payments and I want everyones to increase too.

Mon, 05/04/2015 - 08:35 | 6057986 clooney_art
clooney_art's picture

The End is Nigh.

Mon, 05/04/2015 - 08:37 | 6057993 Oh regional Indian
Oh regional Indian's picture

I find this man Gross...so do you...

See, worlds will tell you everything ;-)

https://www.youtube.com/watch?v=gTot6Wcz3-g

Mon, 05/04/2015 - 10:02 | 6058269 JRobby
JRobby's picture

Just wait until July / August. Gonna be a hot one this year. Hot.

Mon, 05/04/2015 - 10:58 | 6058444 mtndds
mtndds's picture

I am going to predict that once the dude in the WH leaves then everything is going to go to shit. 

Mon, 05/04/2015 - 11:22 | 6058509 rejected
rejected's picture

Yea,,, just look at the pieces of shit they're offering us for the next eight years. 300 million plus another 50 million illegals to choose from and that is the best we can do? They say President Putin plays chess while Obombu plays checkers,,, Well, marbles will be a challenge to the bone heads coming up.

Mon, 05/04/2015 - 12:46 | 6058806 Gone Full Retard
Gone Full Retard's picture

I like Bill. He seems pretty cool.

Mon, 05/04/2015 - 14:22 | 6059114 MonetaryApostate
MonetaryApostate's picture

Globalization meets Corporatism all controlled by the Globalist (Read Elite), where banks & financial markets are going away...

(Bye bye speculation & financial terrorism, hello corporate terrorism?)

http://thediplomat.com/2012/04/the-rise-of-global-feudalism/

Mon, 05/04/2015 - 08:40 | 6058000 Seek_Truth
Seek_Truth's picture

That's me on the right.

Mon, 05/04/2015 - 12:45 | 6058804 kaiserhoff
kaiserhoff's picture

I kind of like Bill Gross,

  but there is something about that damned bow tie...

Mon, 05/04/2015 - 13:49 | 6059054 johnvallo
johnvallo's picture

You're thinking of Jim Rogers. 

Mon, 05/04/2015 - 09:09 | 6058083 TheFourthStoog-ing
TheFourthStoog-ing's picture

Nah, this bull's got room to run yet. Stocks aren't even close to manic yet. That could take years. I'm no fan of this market, but not the time to get out.

Mon, 05/04/2015 - 09:35 | 6058170 McCormick No. 9
McCormick No. 9's picture

The end has already come. We are beyond the end. Robot traders, perpetual TBTF, ZIRP, NIRP, bail-ins, fee-for-deposit, and bans on cash mean the system has been hijacked. If you can't leave the market, if the market is on perpetual life-support, if the market is centrally planned by unaccountable and unknown persons, THERE IS NO MARKET. We are living in a brave new world.

Mon, 05/04/2015 - 10:04 | 6058274 JRobby
JRobby's picture

But it has been accepted.........so far.

Mon, 05/04/2015 - 10:26 | 6058332 Renfield
Renfield's picture

From a much better article than this one:

<<1 – There are no markets anymore (and therefore no investors either).

There are ways to make money, but that’s not the same thing. Markets must of necessity reflect – the performance of – underlying economies, and to even pretend today’s markets do that is preposterous. Financial markets these days exclusively reflect central banks’ pumping money into their respective bankrupt banking systems, a practice poetically known as QE. Markets need to be functional in order to be called markets and if they don’t we should find another term to label them with.

Or, in other words, present day western economies – and their former markets – are being artificially propped up by either making already poor people poorer today, making them poorer tomorrow, or both. It’s the only way left to make things look passable. And those who still desire in these non-markets to call themselves ‘investors’ are merely little piglets sucking spoilt milk oozing from the teats of their mother sow’s long-dead bloated corpse.>>

http://www.theautomaticearth.com/2015/05/sucking-spoilt-milk-from-a-bloa...

Mon, 05/04/2015 - 12:23 | 6058697 Bush Baby
Bush Baby's picture

"When investable assets pose too much risk for too little return."

Where can you get a decent, relatively low risk return these days ?

It's all manipulated and designed to be the only game in town.

Think of the markets as being FDIC insured and you may be able to sleep at night.



Mon, 05/04/2015 - 12:56 | 6058834 JuliaS
JuliaS's picture

I call it autopilot existence. Every human function is being automated and along with that process comes a sad realization that most of us don't do anything useful. And that wouldn't be a problem if we only had to take care ourselves. Get a piece of land, grow food, collect rainwater.

Unfortunately the industrial world was structured in a way to only serve the property owner - the industrialist, the banker and the government. Ownership has been displaced by the right to access, meaning no one was allowed to live outside the system.

Want land? Can't get it without taxation. Can't pay taxes without income. Can't make income without feeding resources continuously to the beast, regardless of whether you're profitable or not... and even if being profitable, you have to comply with arbitrary and ever-changing regulations.

No ownership of land. No ownership of anything. No means of supporting yourself - an individual perfectly capable of existing outside the system is forced into extinction by the century old industrialist, the banker and the ruler all working together to preserve their sacred cult. In their world machines can and will replace everyone, unless people fight for one thing that's the most valuable resource on this planet - land.

If you can't own land, you can't own anything on top of it, including yourself.

Mon, 05/04/2015 - 13:13 | 6058909 kaiserhoff
kaiserhoff's picture

Well said.  Land is the only source of self reliance, and some measure of security.

Mon, 05/04/2015 - 09:35 | 6058171 McCormick No. 9
McCormick No. 9's picture

The end has already come. We are beyond the end. Robot traders, perpetual TBTF, ZIRP, NIRP, bail-ins, fee-for-deposit, and bans on cash mean the system has been hijacked. If you can't leave the market, if the market is on perpetual life-support, if the market is centrally planned by unaccountable and unknown persons, THERE IS NO MARKET. We are living in a brave new world.

Mon, 05/04/2015 - 09:51 | 6058220 Renfield
Renfield's picture

Worth repeating, upvoted twice.

Mon, 05/04/2015 - 10:29 | 6058354 weburke
weburke's picture

since bill gross probabaly will review the responses to his writing here, I think that because he has less to do, ect. I would say to him, 70 is a fine time to finally really care about what you eat. I have at 62, many friends who are in their 80's some in their nineties, and one, 106, and one 105. They eat enzymes. And  lots of them. 

Mon, 05/04/2015 - 10:25 | 6058228 Renfield
Renfield's picture

<<Stocks aren't even close to manic yet. That could take years.>>

Where have you gone, MillionDollarBonus? Our nation turns its lonely eyes to you, woowoowoo.

Mon, 05/04/2015 - 11:42 | 6058583 JRobby
JRobby's picture

MDB is TROLL PLANT SHILL

Mon, 05/04/2015 - 16:21 | 6059652 Deathrips
Deathrips's picture

No ...hes the resident jokester. Its sarcasm.

 

RIPS

Mon, 05/04/2015 - 10:00 | 6058260 auntiesocial
auntiesocial's picture

Do you want to feel old? 

I was knocking back beers with my friend and his daughter just turned 21 over the weekend. During conversation at some point we starting talking about Robert Plant.

His daughter had no fucking idea who Robert Plant is or what he does... Robert who?

BTW- yes, she's is hot for all you pervs wondering...

Mon, 05/04/2015 - 10:37 | 6058374 Zandalf
Zandalf's picture

Didn't he invent the manufacturing Plant?.... Oh no, wait, he was the first vegetable!.... It's been a long time....

 

Mon, 05/04/2015 - 10:38 | 6058377 heisenberg991
heisenberg991's picture

There are rules. Show da pics for da pervs.

Mon, 05/04/2015 - 14:31 | 6059201 divingengineer
divingengineer's picture

Yeah, you know what we want. 

And by the way, it isn't just Plant, they don't know about Gilligan's Island, Marshal Dillon, Barney Fife, none of the personalities of our time.  

Hell, most 21 year olds have never even seen Pulp Fiction! If you can believe that crazy shit!

I was horrified just talking to a few of them recently.  

Mon, 05/04/2015 - 11:22 | 6058510 TheEndIsNear
TheEndIsNear's picture

The End is Near.

Mon, 05/04/2015 - 13:45 | 6059031 gimme soma dat
gimme soma dat's picture

Good. 

Mon, 05/04/2015 - 14:32 | 6059206 divingengineer
divingengineer's picture

I'm with you on that one.  It's been a real fuck-show these last years.

Mon, 05/04/2015 - 12:06 | 6058669 jaxville
jaxville's picture

  I don't sense him complaining.  He is pointing out that change due to monetary policy is coming.  I really like his metaphor of  dying of old age to predict the end date. 

  The "end" he speaks of for elements of the financial sector will be the beginning of something else.  It is change and change entails stress for those who must act to survive and thrive in the new paradigm.

  I also sense a clear warning to remove a large portion of ones wealth from the financial sector.  The risk going forward exceeds the returns that can be expected. 

  That is about as close as Bill will ever get to recommending holding gold specie.

Mon, 05/04/2015 - 08:19 | 6057945 PaperWillBurn
PaperWillBurn's picture

I've been contemplating selling 10oz of gold for some more BTC.

 

Not because I don't like gold, but too many great things happening in bitcoin right now.

 

Curious why you would get out of bitcoin right now? 

Mon, 05/04/2015 - 08:25 | 6057959 VinceFostersGhost
VinceFostersGhost's picture

 

 

I have an aversion to being tracked by GPS every waking moment.

 

I'm going off the grid.

Mon, 05/04/2015 - 08:35 | 6057988 Haus-Targaryen
Haus-Targaryen's picture

As you type this on a public domain using an "off-the-shelf" proxy. 

Mon, 05/04/2015 - 08:39 | 6057997 VinceFostersGhost
VinceFostersGhost's picture

 

 

I'm still working out the details.

Mon, 05/04/2015 - 09:52 | 6058227 FrankieGoesToHo...
FrankieGoesToHollywood's picture

Its his neighbors computer.

Mon, 05/04/2015 - 09:55 | 6058238 HowdyDoody
HowdyDoody's picture

The one that is the FBI stooge?

Mon, 05/04/2015 - 08:53 | 6058035 fudge
fudge's picture

WarDriving, and if you live in the 'right' places it's possible to use a .gov service.

Mon, 05/04/2015 - 08:59 | 6058058 TheFourthStoog-ing
TheFourthStoog-ing's picture

I just sold all my gold and silver. I'm convinced gold's going to go down for a long time before it goes up again. This stock bull's got legs.

Mon, 05/04/2015 - 09:33 | 6058156 eclectic syncretist
eclectic syncretist's picture

Next you should move to California

https://www.youtube.com/watch?v=-qCpFn1iIqk

Mon, 05/04/2015 - 09:38 | 6058182 McCormick No. 9
McCormick No. 9's picture

Don't sell, just trade in bullion for denominated pieces, especially silver. Paper cash will be outlawed soon, and then the only REAL medium of exchange will be the barbarous relics.

Mon, 05/04/2015 - 11:08 | 6058473 rejected
rejected's picture

/s

 

there,,, fixed it 4 u.

Mon, 05/04/2015 - 09:11 | 6058092 FoundInTranslation
FoundInTranslation's picture

Getting out near the bottom of the recent Bitcoin bear market? Brilliant!

Did you also sell your entire equity portfolio at the 2008 lows?

Mon, 05/04/2015 - 10:04 | 6058275 CPL
CPL's picture

Do you have it in your hand yet and have you tested it's tungsten content?  Although I understand it's more valuable when you unwrap it and there is chocolate inside.

Mon, 05/04/2015 - 10:23 | 6058338 JustUsChickensHere
JustUsChickensHere's picture

Hold a percentage of both !!  (and silver) ... alter the relative weghting from time to time ....but remain diversified

Mon, 05/04/2015 - 08:14 | 6057929 Hype Alert
Hype Alert's picture

Is he expecting a broken market to self-correct?

Mon, 05/04/2015 - 08:50 | 6058027 sTls7
sTls7's picture

Crash.

Mon, 05/04/2015 - 10:14 | 6058303 CPL
CPL's picture

Naw.  They'll print money from thin air and we'll see DOW at 36000 long before we ever see it crash.  Why?  That's appearently 'the plan'.  I know.  It's a terrible plan but that's the plan.  There's books written by hebs and everything about it and there's one thing about these types of plans.  People should get exactly what they ask for.  To the letter, they deserve everything that's coming to them.  Why?  They are 'special'.

See:

http://morningbull.blog.tdg.ch/media/01/02/1452753296.pdf

Oh yeah, they'll also print more paper gold to make sure there is no real gold floating around and the gold wrapped tungsten coin and bar trade will continue to mask the very real shortages in a commodity that just doesn't mean a hell of a lot anymore.  Because that's part of the plan as well.

Mon, 05/04/2015 - 11:56 | 6058642 Farqued Up
Farqued Up's picture

The only reason to have a plan is the adage, "the only way to change your plan is to have one". Make sense? Didn't think so, nor have any of my plans throughout life, either. Fug a plan, but remember that piss poor planning on your part does not warrant panic on my part. Therefore, my plan is not to have another plan.

Mon, 05/04/2015 - 09:56 | 6058247 Renfield
Renfield's picture

A market, you say! Where, where!?!? Thought those had all gone extinct...

Mon, 05/04/2015 - 08:14 | 6057930 steveharless
steveharless's picture

you cant have a booming real estate market when the stock market is sky high

www.ViewLasVegasRealEstate.com

Mon, 05/04/2015 - 08:18 | 6057944 mickeyman
mickeyman's picture

You can if they're both driven by credit creation

Mon, 05/04/2015 - 08:22 | 6057943 NoDebt
NoDebt's picture

I always feel good investing my money with guys who frequently talk about death.

Mon, 05/04/2015 - 08:27 | 6057966 negative rates
negative rates's picture

Yeah because the closer they get to it, the more they care about you.

Mon, 05/04/2015 - 09:21 | 6058119 LawsofPhysics
LawsofPhysics's picture

Yes, the people doing "God's work" have done much better...

Mon, 05/04/2015 - 08:25 | 6057961 Dien Bien Poo
Dien Bien Poo's picture

RIP Bill Gross. Book talking dickwad. 

Mon, 05/04/2015 - 08:30 | 6057968 g'kar
g&#039;kar's picture

This article should be good for another +600 points on the DOW this week.

Mon, 05/04/2015 - 08:44 | 6058014 Hongcha
Hongcha's picture

S&P is just basing now for newer highs.

Mon, 05/04/2015 - 08:48 | 6058020 VinceFostersGhost
VinceFostersGhost's picture

 

 

should be good for another +600 points

 

Oh, fer sure.

Mon, 05/04/2015 - 08:31 | 6057975 miker
miker's picture

Gross waxes a bit too much philosophical these days.  Interesting why these people (Gross, Buffet, etc.) can't simply retire and end their public career.  They don't need the money.  I think it is because it is all they know and do.  Very unbalanced life.  Sad in a way.

Mon, 05/04/2015 - 09:07 | 6058072 OneTinTrooper
OneTinTrooper's picture

when you reach the summit of Maslow's pyramid you want to prolong your stay ... the return to base camp is the end game

Mon, 05/04/2015 - 09:20 | 6058116 eishund
eishund's picture

didn't know he reached the apex. i know he has tons of $. that's about it.

Mon, 05/04/2015 - 09:11 | 6058091 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

id imagine theyll end their careers when there are no more sheeple to be sheared or when cronyism no longer pays. although when those things happen they might lose more than their public careers.

Mon, 05/04/2015 - 10:23 | 6058337 CHC
CHC's picture

Gross is despondent ever since his beloved cat died.

Mon, 05/04/2015 - 08:51 | 6058028 NoWayJose
NoWayJose's picture

When investable assets pose too much risk for too little return - there will only be two buyers left - the Fed, and the big banks who will leverage up using free Fed money and be backed by the taxpayer for any losses. Sort of like - right now...

Mon, 05/04/2015 - 08:57 | 6058044 OneTinTrooper
OneTinTrooper's picture

stay in the pot while the water warms or jump out and get eaten by the family dog

either way we are heading for death ... Gross leaves the possibilty of long glide path with the temperature on low ... I think he knows this is unlikely

Mon, 05/04/2015 - 09:20 | 6058067 LawsofPhysics
LawsofPhysics's picture

Gross has always been part of the planned "opposition" as it were.  That which cannot be sustained, won't be.  That much is for sure, but any one person who thinks they can predict how this complex system is going to respond is an arrogant fool.  The smart money left a while back Bill.  In fact, the smart money isn't even playing in the same BS "market" that the 401k sheep are forced to play in.  Greedy old cronies like Munger and Buffet love shearing those sheep and the political puppets in D.C. allow them to keep doing so.

Mon, 05/04/2015 - 10:09 | 6058290 Snoopy the Economist
Snoopy the Economist's picture

The smart money is always in the game - they are in the equities that move the most in the shortest periods of time. Then when the top is in the smart money shorts it all the way down.

Mon, 05/04/2015 - 11:03 | 6058452 LawsofPhysics
LawsofPhysics's picture

Bullshit.  I know several VC guys.  The paper they hold is not the same as the paper equities you buy through e-trade.  In addition, they sit on the boards of these companies and know exactly when to sell.  insider trading laws are for the average sheep.  Not these guys or congress.  Finally, their names are also on the titles.  Ownership baby, it has great rentier privilages...   ..especially now that no one is allowed to actually fail anymore.

Once again, "it's a club", always has been.

Mon, 05/04/2015 - 09:08 | 6058078 AbbeBrel
AbbeBrel's picture

I love how even Mr. Gross talks about so and so "since Lehman".

But this so called "New Mediocre" (aka New "Normal") - which might go on for longer than you think, the acronym might be better termed as:

ZH:

WSL - Worst Since Lehman (then what):

Crickets

so it is better termed as:

What Sucks Lately?

Mon, 05/04/2015 - 09:16 | 6058101 VinceFostersGhost
VinceFostersGhost's picture

 

 

Only Nixon can go to China, and only Gross can use the L word on ZH.

Mon, 05/04/2015 - 09:15 | 6058102 Klemens
Klemens's picture

Don`t worry! It`s anway only worthless paper money! So keep smiling!

Mon, 05/04/2015 - 09:16 | 6058105 Jonesy
Jonesy's picture

Definitely NOT good for the Jews.

Mon, 05/04/2015 - 09:35 | 6058168 JoeTurner
JoeTurner's picture

Is anyone else thinking the California drought is a black swan waiting to happen ? I was in Frisco recently and was amazed how few people I talked to (other than waiters) had any idea there was a water shortage. What happens when 30million people can suddenly no longer take a shower and even drinking water might become scarce.

Going into a presidential race in 2016 I see that California has 55 electoral votes and 17m registered voters. What are the implications of millions of pissed off people without enough/any water ?

Mon, 05/04/2015 - 10:03 | 6058272 McCormick No. 9
McCormick No. 9's picture

Here is something to think about re CA water shortage. The lack of rainfall has been enhanced by HAARP weather manipulation. Basically, HAARP stations on Isla Guadalupe and Isla Soccoro take advantage of temperature anomalies in the Eastern Pacific and steer moisture laden tropical depresions offshore where they die over water, instead of bringing moisture to land.

This is not about killing California. It is about inducing a chronic condition, not an acute one. But humans are only partially in control. HAARP can only piggy-back on existing ocean conditions, not create them. If a big El Nino occurs, HAARP can't stop it.

The CA drought will not hurt urban Californians. The amount of water used directly by humans is negligible. Agriculture uses the vast amount. Plants need water to grow, and lots of it. It's just how plants work. The draught is being manipulated and exacerbated in order to cause the most econommic irritation possible. Food prices will go up. Already, in my agricultural niche, I am personally benefitting from the CA droaught, because it rasies prices for what I produce.

This is all about the controlled demolition of our economic, political and social systems. The momentum is in and the new system is on track and has reached inevitable velocity. Essentially now, we are in the final stages of its implementation.

The CA drought is designed to accomplish several goals, not least of which is the demolition of the ancient laws of Western Water Rights, which are dominated by two doctrines, 1) the doctrine of prior appropriation, and 2) the doctrine of abandonment ("use it or lose it"). Also, the definition of "beneficial use" will be radically altered (eviscerated) to include returning water tio nature (in-stream flows). By destroying water rights law, water can be stolen from those who have worked to put that water to use, and that "water wealth" can be redistributed to others, ie, the elite, who by controlling water, can control everything else, especially in the arid west.

This is about order from chaos. The CA drought is human-created chaos, to be replaced by NWO "order", ie totalitiarian control.

Drink up!

Mon, 05/04/2015 - 11:45 | 6058595 Baa baa
Baa baa's picture

Water theft is only increasing, that's a fact. There is so much H2O theft from the Rio Grande, it no longer flows in to the bay.

Mon, 05/04/2015 - 11:50 | 6058621 Baa baa
Baa baa's picture

You bring to mind the veracity in Lisa's earlier post about time to start shootin'.

Mon, 05/04/2015 - 17:17 | 6059855 EscondidoSurfer
EscondidoSurfer's picture

duplicate posting.

Mon, 05/04/2015 - 17:16 | 6059856 EscondidoSurfer
EscondidoSurfer's picture

The coastal strip needs to desalinate water and ban grass lawns.  Look at what Israel is doing.  Of course in CA, nothing logical ever gets done.

Mon, 05/04/2015 - 09:36 | 6058174 Fast Falcon
Fast Falcon's picture

What do you guys think of this post/idea? I read it as a comment about a week ago regarding negative interest rates and ECB/world problems to come.

Saving and borrowing are two sides of the same coin. They must always be in balance. The world today is seeing a previously unknown phenomenon where an entire, large, generation is passing out of its productive life with savings sufficient to fund their long long retirement. Who is borrowing those savings? The answer is rather obvious. Governments are doing so. If they did not then what would happen to those savings - they would experience rapid decline in value. So the choice we face is to steal those savings - probably through inflation - or to borrow to offset them. All rather healthy so far. "When this large rich generation passes away they will have spent those savings, putting the money back into the real economy. As the savings are spent, the borrowings will fall. This entire utterly abnormal economic cycle is ultimately demographic. There is nothing we can do, or indeed need to do, except ride the wave. Central banks are doing rather a good job of doing so. There will be no crash so long as they continue to maintain stability. Total government borrowing may well exceed 400% of GDP - which has to be put into the context of 1/3rd of the population living for 30 years on their savings. That represents savings of 10 years of GDP - 1000%."
Mon, 05/04/2015 - 10:15 | 6058305 Welder
Welder's picture

Harry S.Dent Jr. ?

Mon, 05/04/2015 - 10:55 | 6058431 froze25
froze25's picture

Yes on the demographic info, no on the government soaking up the savings through borrowing.  Dent is more on the side of a giant asset/commodity deflation.

Mon, 05/04/2015 - 09:45 | 6058199 Crocodile
Crocodile's picture

Life's perspective in a life that is separated from the LOVE OF CHRIST: "Turning 70 is something that all of us should hope to do but fear at the same time."

-----------------------------

Another example of the INSIGNIFICANT LIFE apart from ones Creator; I wonder if Bill can logically reason that if he is a creature, then he has a creator and that one who creates; creates with purpose...that is what a builder does, a composer does or an architect does...it is what God has done. 

-----------------------

QUOTE: "but assume it will be the same after I depart – going back to where I came from, unknown, unremembered, and unconscious after billions of future eons"  At least Mr.Gross is thinking about death, but he is terribly mistaken on his assumptions; something most do.  Hell is as real as heaven is real and to mistaken a life whose purpose amounts to nothing is a grave error in judgment; yet it is how most mistakenly exist because they are apart from Jesus Christ who is the Creator of you and I.  If life is that insignificant, then why live since it is pointless?

Mon, 05/04/2015 - 09:57 | 6058251 Monetas
Monetas's picture

The more I learn about Islam .... the more I like Christ .... and Judaism .... and all the others !

Mon, 05/04/2015 - 10:04 | 6058279 McCormick No. 9
McCormick No. 9's picture

The fool sayeth in his heart "There is no God".

Mon, 05/04/2015 - 09:44 | 6058202 GRDguy
GRDguy's picture

So, in other words, Gross is saying the market has run out of greater fools.

Mon, 05/04/2015 - 09:44 | 6058203 Monetas
Monetas's picture

The only thing that makes me nervous .... is the chorus of sky fallers .... I tend to agree .... but, the FED loves to sock it to us .... historically ?

Mon, 05/04/2015 - 10:00 | 6058240 khakuda
khakuda's picture

Market flips off Bill Gross, soars to new highs.

Eventually, the bearishness will be validated, but bull market momentum is tough to temper, especially when QE and ZIRP continue in full force globally and are increasing.  As insane as it is, a massive equity bubble is what central banks want and they will do anything to get it.

Mon, 05/04/2015 - 12:11 | 6058681 Kprime
Kprime's picture

Understand your own writing.  It's not a bull market; it's a bought market.  It's like a car, out of gas, being shoved down the road by an out of control tractor-trailer.

There is NO bull market momentum. QE and Zirp are the out of control machine pushing the market. The market will continue to go where ever the machine pushes it; at least until it gets smashed between then immovable object and the seemingly UN-stoppable force.

Mon, 05/04/2015 - 12:40 | 6058785 khakuda
khakuda's picture

Semantics.  We are in total agreement.

It's a centrally planned market because the most important price, interest rates, is controlled.  It is still a bull market, but the reasons for it are certainly not based on free market price discovery.

Mon, 05/04/2015 - 10:11 | 6058297 buzzsaw99
buzzsaw99's picture

when bill gross starts sounding like zh the end is indeed near. he should be fitted for a rubber room.

Mon, 05/04/2015 - 10:15 | 6058309 LisaJ
LisaJ's picture

Less talking, more shooting.

Mon, 05/04/2015 - 10:21 | 6058325 ersatz007
ersatz007's picture

I reject this article because the shadow of the crisis has passed.

Mon, 05/04/2015 - 18:30 | 6060082 ersatz007
ersatz007's picture

I guess some folks don't appreciate sarcasm?

Mon, 05/04/2015 - 18:32 | 6060083 ersatz007
ersatz007's picture

I know, I know...there's a tag for that

Mon, 05/04/2015 - 10:22 | 6058329 BoPeople
BoPeople's picture

The brighter side of banks pulling the benefits of all economic activity forward and giving it to themselves:

People are at their best when faced with a seemingly impossibly adverse condition. Individuals may fail, but the stresses of war, poverty and privation make better and more resilient people.

That being said, I cannot for one instant believe that the individual bankers and the cheaters and frauds of this world are doing a single thing for the benefit of humanity.

Mon, 05/04/2015 - 10:43 | 6058395 Not My Real Name
Not My Real Name's picture

Maybe it's just me, but it's as if this guy has a complete blind spot to the looming currency crisis that is coming down the pike.

Mon, 05/04/2015 - 10:44 | 6058398 Klemens
Klemens's picture

Deutschland 5 years +250%

http://pigbonds.info/

 

Mon, 05/04/2015 - 10:45 | 6058405 Seasmoke
Seasmoke's picture

Hey Bill. On a long enough timeline , the survival rate of everyone drops to ZERO. Still it's a better blog, than Bernanke's !!!!

Mon, 05/04/2015 - 11:10 | 6058477 falak pema
falak pema's picture

And, this has nothing to do with "statism" that we see unfurling today to save the Titanic in eleventh hour plays that pour oil on to the fire via King $ fiat's demise, all the while hoping it will rise from its debtladen ashes.

This has to do with the FIRE economy bonanza of Reaganomics.

It is interesting to note that Craig Roberts and D. Stockman were both on board in the beginning, before they left that ship. 

Bill Gross is a poster child of that generation. Like Soros and JPM.

The Squid came with Clintonomics. 

Mon, 05/04/2015 - 11:14 | 6058489 q99x2
q99x2's picture

But what should this rational investor do?

They should head for the hills now before the banksters turn the military against anyone with money.


Mon, 05/04/2015 - 11:21 | 6058508 MFL8240
MFL8240's picture

They could not handle a few black thugs in Baltimore and they are going to take over?  haha

Mon, 05/04/2015 - 11:31 | 6058546 SurlysonofaBitch
SurlysonofaBitch's picture

So much for 70 being the new 40 and Dow 18,000 being the new Dow 10,000.

Mon, 05/04/2015 - 11:46 | 6058601 Wild E Coyote
Wild E Coyote's picture

if all you have is a sense, i suggest take it some place else. 

Mon, 05/04/2015 - 11:46 | 6058603 DOGGONE
DOGGONE's picture

Bill Gross,
Attaboy! Keep on keeping this out of sight:
http://showrealhist.com
Never "smarten up a chump".

Mon, 05/04/2015 - 11:46 | 6058607 billl
billl's picture

Two simple, straightforward and honest changes could bring explosive growth, prosperity and provide a demonstration for how redirecting government systems could be used to overhaul itself to reduce its size, employment levels and intrusion into citizens lives and businesses. REPEAL & REPLACE Demonstrating leadership by passing real healthcare and taxation reform now in 2015 BEFORE the 2016 elections should be the criteria to determine who will be the new President in 2016. Lives and a ton of money could be saved and millions of new businesses could be started, existing businesses expanded, and off shore jobs could be brought home to America, the need for millions of state and federal employees could be eliminated and overnight the US could be turned into the fairest and greatest tax haven, with the Fair Tax HR25, and it will be the most efficient, lowest cost, hassle free and compassionate provider of healthcare anywhere, when GovCare is added to compete for patients, (GovCare federal legislation will need to written as will bills for all states), US businesses will no longer be required to pay any taxes or pay for or be involved in any way with healthcare if legislators will simply pass two straightforward reforms, that anyone will be able to read and understand. First repeal and replace Obamacare by adding a second choice where anyone in the US can receive free healthcare no insurance to purchase, no co pay's, no restrictions for preexisting conditions or anything else at GovCare hospitals that will compete with existing health insurance companies and providers for patients. Second abolish the IRS and all federal taxes by passing the (FairTax HR25) and hopefully all states will switch to consumption taxes too modeled after the Fair Tax for all of their revenue requirements. Two basic healthcare choices would be offered for everyone in the US to select from. 1. Choice one: use your own money to purchase anything you want to buy from existing healthcare industry hospitals, health insurers, doctors, drug stores, medication and medical supply sellers. 2. Choice two: select to use a new free one stop single payer government operated system called GovCare where all care and services are delivered to patients for free funded by sales taxes to eliminate profit markups, administrative and bureaucracy costs of dealing with insurance programs and copays. Merging the best of free enterprise's and the best of the government's proven, high quality, low cost advantages will make it possible for everyone in the United States to have two separate healthcare choices and we could save $trillion from the $3trillion spent for healthcare in 2014. Every patient will have a multitude of choices of where they might voluntarily chose to spend their own money for purchasing any insurance or care from any of the non government funded providers competing for healthcare customers. Patients will be able to go back and forth between free GovCare or non government pay for care providers and insurance companies. Healthcare customers and patients can mix and match, use only free GovCare or purchase whatever insurance or care they want to buy from existing systems or they may choose to never use either system. Everyone in the US regardless of their citizenship or financial status, rich or poor, citizen or non-citizens, could make a choice to receive free care at GovCare Hospitals; no insurance purchases required, no copays, no restrictions because of preexisting medical conditions just ask at any GovCare hospital and care will be provided and it will be free period! GovCare will provide all inclusive birth to death healthcare including, primary, inpatient, outpatient, weight loss, substance abuse, psychiatric, long term elderly, extended nursing home care, free medications, dental, eye care, glasses hearing aids, and all medical devices. No one in the US will ever again be forced to go without healthcare or medications nor will any individual, business, or government at any level ever be without choices to avoid bankruptcy or lack of care or medications because of healthcare costs or availability. Americas Veterans Administration Hospitals using governments low cost advantages and evidenced based care meaning(prevention programs to keep you healthy)and (if you get sick or injured the VA does whatever it takes to make you well) and the VA has been producing better patient outcomes for years than any other providers at any cost and the VA's costs are a mere fraction of what todays healthcare industry is charging patients and taxpayers. Hundreds of billions of dollars could be saved annually, from the $3trillion spent in 2014 and and by repealing and replacing Obama Care and adding a second “GovCare” choice everyone in the United States will have choices for access to far superior care and payment options than is being provided today. Individuals would no longer be forced to purchase insurance and could have free care just ask at GovCare hospitals it's free period. Businesses would no longer be required to pay for or be involved with healthcare in any way. State governments would no longer be required to pay for or be involved with healthcare in any way. Here is how to make GovCare available to everyone in the US wanting free care in 2015. Repeal and Replace Obama Care with a 100 page simple straightforward GovCare legislation bill. This can be done quickly if President Obama and other prominent Democrats and Republicans unite. Treasury and Federal Reserve funding, like that used to bail out the banks and Wall Street, could be used to fund the new GovCare startup. Aquire up $500billion of existing public and private healthcare companies from willing sellers to quickly form the new “GovCare” single payor healthcare option for patients to use by year end 2015. Sales taxes, collected fairly and efficiently from 50million tourists and everyone shopping in the US could pay the annual costs for operating the free single payer GovCare option. To control costs and quality no government funding will paid to any providers other than GovCare. Existing insurers and providers will no longer be required to provide indigent care nor be subjected to any government meddling, mandates, restrictions or pricing directions as they practice medicine. Employers will not be required to provide nor pay for any healthcare; however for anyone choosing to purchase any healthcare it will be tax deductible for the purchasers and tax free to the recipients. Todays existing costs paid by local, state and federal governments for healthcare can all be eliminated. Here is a business news quote that screams the damage that the healthcare industry, their lobbyists and conspiring government policymakers are inflicting on patients, taxpayers, businesses and local, state and federal governments who are all being subjected to terrible financial and physical pain and even death. “The unstoppable healthcare sector is expected to see revenue growth of 9.1%, according to FactSet, with three sub-sectors seeing double-digit sales growth: Healthcare Technology (38%), Biotechnology (23%), and Healthcare Providers & Services (11%). Thats why no one in congress or anywhere else, wants to get healthcare expenditures under control. It may eat up Medicare, Medicaid, state healthcare programs and retiree healthcare programs. It may be economically cannibalistic for the country. It may bankrupt municipalities and states. It may blow up federal programs. But in its manner, healthcare is the most vibrant growth sector in the US economy. Even if it lives on borrowed money and is bankrupting the nation, its growth!” Wolf Richter The Fair Tax Act of 2015 will abolish the Internal Revenue Service and end all federal personal income taxes, all corporate income taxes, all payroll taxes, all self-employment taxes, including social security taxes, all capital-gains taxes all inheritance, estate and all gift taxes and replace everything with a revenue-neutral personal consumption sales tax on all retail sales of new goods and services. Efficient, painless and non intrusive sales tax collections at the cash register when you buy stuff will provide the same amount of money to continue to pay governments bills like they are paid today. Social security and all existing government programs will continue to pay the same benefits. Existing hidden value added taxes, ( 20plus%), that we pay now on everything we buy will be eliminated and here is the beauty of the FairTax a 23% sales tax substitution on all new purchases will produce the same annual revenue-neutral amounts produced by our existing convoluted and hated IRS. Workers will be able to keep all of their wages. Millions of off shore jobs could be brought home and starting and operating new or existing businesses in the US will be simpler and businesses will no longer be forced to pay any taxes and if GovCare replaces Obamacare businesses will not be required to pay for or be involved with healthcare in any way. With the Fair Tax in place no businesses or individuals would be required to pay any federal taxes and if states also repeal and replace with a state Fair Tax system no tax payments or tax involvements of any kind will ever be required again. Changing just these two laws could bring remarkable and immediate health and tax benefits to everyone living and doing business in the United States. Repeal and replace Obamacare by adding a new free GovCare competitor and at the same time abolish the IRS and repeal all federal taxes by eliminating social security taxes, personal, corporate, payroll withholding, self-employment, capital-gains, and gift taxes and replacing everything one with simple revenue-neutral consumption sales tax. The US would instantly become the worlds best tax haven for individuals and businesses. HR 25 Fair Tax sales tax only collections will be revenue-neutral and will provide all the money required to pay for social security and all existing federal programs and sales tax collections and huge GovCare cost savings will pay the annual costs for operating the new free GovCare system. Bonus benefits learned from FairTax direct computer payment deposit systems interacting with citizens using their social security numbers for Prebates could also demonstrate an efficient way to make safety net payments directly to the people who will spend the money allocated to them. Computer payments made FairTax style could knock $trillions of overhead costs off of local, state and federal government's operational costs and free up armies of government employees to use their skills working at income producing enterprises that will increase the nations GDP. Companies that have left the US because of taxes and healthcare costs could come back home and employ workers again all over America like we enjoyed in past glory days. No more forms to fill out, no more withholding, no taxes will be collected on used purchases and everyone in the US with a social security number can get a monthly “Prebate Check” https://www.govtrack.us/congress/bills/114/hr25/text http://en.wikipedia.org/wiki/FairTax A presidential candidate with the ability to recruit a campaign army, raise money, has integrity, persistence, determination, clout, tact and coalition building skills to inspire President Obama and 535 existing Washington legislators and an army of lobbyists to join together to repeal Obamacare and the entire federal tax system and abolish the IRS to rid government of the complicated, incomprehensible, cruel, grossly inefficient and overpriced healthcare and tax systems and their bureaucracies that are killing us and then who succeeds in replacing them with simple straightforward, honest, fair, compassionate and fiscally responsible, free GovCare and Fair Tax HR 25 before the 2016 election should be elected to be the next: PRESIDENT OF THE UNITED STATES

Mon, 05/04/2015 - 11:57 | 6058643 HeavydutyMexica...
HeavydutyMexicanOfTheNorthernKingdom's picture

You're a complete and utter moron.

Mon, 05/04/2015 - 12:02 | 6058653 Kprime
Kprime's picture

hey, I know, since you can't do anything without .gov up ur ass, maybe you should sponsor a bill for gov.paragraphs.  That would sure be nice.  We use them all the time in the free world.

Imagine that, free use of paragraphs for all taxpaying citizens; use as many as you need, they're free.

Mon, 05/04/2015 - 12:04 | 6058665 Baa baa
Baa baa's picture

It is obvious a great deal of thought went in to your piece. It was quite interesting but I am afraid it has more holes in it than a horse trader's mule...."prominent Democrat and Republican leaders unite...Please, come on now, really.

Mon, 05/04/2015 - 12:28 | 6058735 kchrisc
kchrisc's picture

"Two simple, straightforward and honest changes could bring explosive growth, prosperity and provide a demonstration for how redirecting government systems could be used to overhaul itself to reduce its size, employment levels and intrusion into citizens lives and businesses."

Three simple changes:

1) End the FedRes, and stop fraudulent-reserve banking.
2) End big government and put it's successor back in the Constitutional box.
3) No "dual-citizens" permitted in finance, government and education.

Liberty is a demand. Tyranny is submission.

 

"how redirecting government systems could be used to overhaul itself to reduce its size, employment levels and intrusion into citizens lives and businesses."

That was funny. Thanks.

Mon, 05/04/2015 - 12:32 | 6058752 Comte d'herblay
Comte d&#039;herblay's picture

............who are you, Joyce?  Foster Wallace???

Mon, 05/04/2015 - 11:59 | 6058650 aqualech
aqualech's picture

You aren't allowed to not gamble in their casino anymore.

Mon, 05/04/2015 - 12:04 | 6058667 Monty Burns
Monty Burns's picture

The Ponzi/boom has gone on a lot longer than I ever thought possible. How much longer?

Mon, 05/04/2015 - 12:18 | 6058691 vegas
vegas's picture

After reading this bullshit, I wish I was unconscious.

www.traderzoo.mobi

Mon, 05/04/2015 - 12:22 | 6058705 aqualech
aqualech's picture

You aren't allowed to not gamble in their casino anymore.

Mon, 05/04/2015 - 13:17 | 6058925 the grateful un...
the grateful unemployed's picture

silly, you're the casino, and they are here to break your bank, by doubling down every time (see Martingale, roulette) as a casino operator you have several options to prevent this, because any client who can print his own money will soon have yours, your options are 1) reduce the limit on the bet - in this case impose limits on government spending, because without deficits there is no cause to inflate, no reason for QE, no mo way to monetize a shrinking budget. 2) you can change the rules, the return on allowable bets, field, red black, number, or you could actually start to tax corporations. 3) you can close up the table and turn out the lights. let em play slots. reduce the number and type of allowable investments - outlaw derivative trading and such. you the casino operator through the legislature and the peoples house can do these things to protect your casino (future wealth) from these gamblers who would own you.

Mon, 05/04/2015 - 12:29 | 6058731 newsoutlet
newsoutlet's picture

Now in hockey world cup USA wins RUS with 3:1

Meantime putin regime has ruled out order to his "alternative news channels" financed directly by putin regime, such as sputnik, RT, Life News (Rus), Rossija24, Pravda (and other ill shit) that there should be alternative view not like one reported by western media and that actually score is RUS : USA  9:0 

 

What? Cant russia have alternative view on world topics not only in Ukraine but also in sports?

 

 

Mon, 05/04/2015 - 13:02 | 6058862 Counterpunch
Mon, 05/04/2015 - 14:04 | 6059110 newsoutlet
newsoutlet's picture

"Dramatic RT footage shows the ravaged village"

ha ha ha RT ... ha ha ha... yeah that putins ill shit. No I won't watch their lies.  Russia media also reported how Ukranian soldiers fight in order to get 2 slaves in Donbas and how theu crucify children... of course that whas their sick imagination to demonize Ukranians.

Mon, 05/04/2015 - 12:27 | 6058733 Rossypooh
Rossypooh's picture

Have lots of kids. Teach them the value of resourcefulness and learn them how to give back more than they take. (Yes, it is possible says the hobbit below.)

There. Problem solved. What's next?

Mon, 05/04/2015 - 12:57 | 6058838 EscondidoSurfer
EscondidoSurfer's picture

Accumulation and then all down hill—what a sucky world view.   Does not life consist of more than what we have accumulated?  Man’s days are like grass and as the flower of the grass he flourishes.  The wind blows over it and it is gone and its place remembers it no more.  (Psalm 103). Knowing this should cause us to focus on the deeper meaning of life.  Gross is smart but not wise.

Mon, 05/04/2015 - 13:00 | 6058853 Ward no. 6
Ward no. 6's picture

i work for a 401 k company

i don't give a penny to my 401k (probably the only one who doesn't where i work)

waiting for a H U G E correction b4 i put any money into it

 

Mon, 05/04/2015 - 13:01 | 6058860 Counterpunch
Counterpunch's picture

All eyes should be on the TPP

http://www.csmonitor.com/Business/Robert-Reich/2015/0504/Trans-Pacific-P...

Which everyone seems to get wrong.

It is a major step toward "globalism" - the power of mega corporations, and the banking families behind them.

Mon, 05/04/2015 - 13:07 | 6058879 InsanityIsWinning
InsanityIsWinning's picture

The bull market is ending? You'd better check in with Yellen on that . . . the stock system (not a market) is all they have to hang their hats on. When it cracks, they'll print more mulla .  . . wash, rinse, repeat  . . .qe (n+1)

Mon, 05/04/2015 - 14:04 | 6059109 Razor Boy
Razor Boy's picture

You lost me at "Where was “I” for the 13 billion years following the Big Bang?"

Mon, 05/04/2015 - 14:32 | 6059204 Arthur Schopenhauer
Arthur Schopenhauer's picture

More than half of American citizens regard Wall Street as a den of evil, immoral, criminal, morally bankrupt, disgraceful, reprehensible, shameful, and unpatriotic thieves, consumed by greed.

What does that have to do with inner fears of a stock market downturn, or wise investments?

Mon, 05/04/2015 - 17:00 | 6059737 monad
monad's picture

You are and have always been a cell in macroprosopus. Your material will be recycled into another form of life expressing itself, forever. When even this star dies it will transform into something else. The continuity transcends our perception and bias. Sure your time is up Bill, but your life will be etched in the fabric of spacetime, where the hyperdimensional ones can appreciate this pattern we make. Time doesn't have an end or a beginning. We do! The best part is, you'll go where the crazy monkeys can't find you.

Mon, 05/04/2015 - 17:37 | 6059921 Jstanley011
Jstanley011's picture

The point of a Jubilee every fiftieth year in ancient Israel -- about the length of a human lifetime at the time -- was to reset the debt levels in the macroeconomy at zero, so the up-and-coming generation could start with a clean slate.

In capitalist economies the same thing is accomplished by the "creative destruction" that the Mr. Market produces by forcing unprofitable firms out of business and non-performing loans into default. The market solution is more painful, in that periodic depressions seem to be required for debt to reset. But it can hardly be expected that a Jubilee system would ever be endorsed by people who don't even recognize Kondratieff Waves, so I imagine we're stuck with them until the Millenial Kingdom dawns.

The only thing worse than a depressionary reset is trying to avoid a depressionary reset, as we have begun to learn in living color. Instead of a clean slate, we reduce the next generation or two to debt slavery, bankruptcy, destitution and a constant danger of political collapse.

BTW, it's going to be maximun suckage for ol' Bill if in the end it turns out John 3:16 was true, but he perishes anyway.

 

 

Mon, 05/04/2015 - 19:48 | 6060335 Jones79
Jones79's picture

-

Mon, 05/04/2015 - 19:47 | 6060336 Jones79
Jones79's picture

Some mistakes of basic facts that should have been caught by an editor were so distracting that I lost morale while reading.

Lynch called it a 20 bagger, not banger.

The Fitzgerald story is diamond as big as a ritz, no mention of a mountain.

Historical equity returns before 1950 were actually mostly in the form of dividends, not capital gains, so "capital gains" have not in fact "dominated historical returns."   

Tue, 05/05/2015 - 03:38 | 6061026 FinancialWizard
FinancialWizard's picture

Think about it...

 

100% of people who predicted the end of the world is near, have been wrong.

 

http://media0.giphy.com/media/iSpOTiVt7wSl2/200w_d.gif

 

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