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America Is Its Own Worst Enemy - Trapped In Irrational Exuberance
Submitted by Paul Farrell via MarketWatch.com,
Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.
Get it? America’s 95 million investors are at huge risk. Remember the $10 trillion losses in the crash and recession of 2007-2009? The $8 trillion lost after the dot-com technology crash and recession of 2000-2003? This is the third big recession of the century. Yes, America will lose trillions again.
Especially with dead-ahead predictions like Mark Cook’s 4,000-point Dow correction. And Jeremy Grantham’s warning of a 50% crash around election time, with negative stock returns through the first term of the next president, beyond 2020. Starting soon.
Why is America so vulnerable when the next recession hits? Simple: The Fed’s cheap-money giveaway is killing America. When the downturn, correction, crash hits, it will compare to the 2008 crash. The Economist warns: “the world will be in a rotten position to do much about it. Rarely have so many large economies been so ill-equipped to manage a recession,” whatever the trigger.
With today’s near-zero interest rates, our Fed and central banks worldwide have little “wiggle room” to add more monetary stimulus. And even if Congress decided to act on the much needed, highly effective “growth boosting investment in infrastructure,” today’s zero interest makes it impossible “to launch a big fiscal stimulus.”
No wonder Grantham says the “next bust will be unlike any other.” The Fed and central banks worldwide have taken on all this leverage that was out there and put it on their balance sheets,” giving trillions to the top 1%, the world’s 1,826 billionaires, accelerating the inequality gap and fueling a new people’s revolution.
Investors unprepared for 50% stock market losses dead ahead
Meanwhile, distractions are everywhere: It’s not just happy talk about a roaring bull market in tech, a modest recovery, GDP growth topping 2%. Rather it’s the relentless buzz on America’s 24/7 media choking the American mind with trivia.
One: The bizarre presidential primaries featuring the carnival barker of the Trump Casinos gambling against the Koch Bros, the owner of the Vegas Sands and 15 other contestants in their wild-card game of “Political Jeopardy” being played for control of the GOP brand (but no regard for the will of the American people).
Two: Another soap opera is the historic morality war with Pope Francis and billions of revolutionaries pitted against the 19th century Grand Climate Science Denying Fossil Fuel Conspiracy of Big Oil and the GOP. And both these soaps are almost as much fun as “Jurassic World,” Nascar racing and the network daytime soaps combined.
Then of course there’s all the Clash of the Titans between two political dynasties, the heir apparent of the Bush crown versus the Clintons for the right to take over as titular head of a tenuous global anarchy of 1,826 billionaires, 67 of whom own half the assets of the entire world, the one percent whom politicians bow to more than the other 99% of America’s citizens.
Yes, with 95 million average investors risking it all in the volatile Wall Street casino, it’s virtually impossible for any normal folks to concentrate on the ticking time bomb that’s warning of a recession dead ahead ... when the bubble pops and the bear takes over the economy ... because it really is “only a matter of time,” as the Economist keeps warning that the “rich world,” the Fed, Congress, all America really is not ready for a new recession ... and neither are you.
America is its own enemy, trapped in new irrational exuberance
What’s even more disturbing than the near certainty of Grantham, Cook and the Economist in the dark predictions is what’s driving them, America’s self-delusional narcissism, overoptimism and irrational exuberance from the happy-talking bulls, which sets us up for huge losses, as in the recessions of 2000-2003 and 2007-2009, with trillions in lost market cap.
Individually and collectively, whether Washington, Corporate America, Silicon Valley or Main Street, most Americans, secretly believe in the American Dream, at least for themselves, perpetual opportunity, perpetual growth, perpetual prosperity. When we surveyed Wall Street years ago we found a 93% bias toward positive thinking, and a tendency to ignore or substantially discount bearish signals, to “accentuate the positive, minimize the negative.”
This behavioral tendency puts individual investors, stock markets, even nations at great risk. Harvard financial historian Niall Ferguson, author of “Colossus: The Rise and Fall of the American Empire,” asked rhetorically in a Los Angeles Times column:
“America, a Fragile Empire: Here today, gone tomorrow ... could the United States fall that fast?” Yes. America could fall very, very fast, triggering an economic collapse with losses in trillions, the historic game-changer demanding a political course correction, like the 1908 antitrust laws, the 1932 banking and securities laws ... or today’s massive takeover of American government by an anarchistic oligarchy of superrich billionaires.
Next crash, an ‘accelerating sports car ... a thief in the night!’
The point, it’s sudden, fast, and you won’t see it coming. Nor will America’s leaders. Unprepared, says the Economist, unable to act in time to avoid the recession dead ahead.
Says Ferguson, “for centuries, historians, political theorists, anthropologists and the public have tended to think about the political process in seasonal, cyclical terms ... we discern a rhythm to history. Great powers, like great men, are born, rise, reign and then gradually wane.”
In that scenario, “whether civilizations decline culturally, economically or ecologically, their downfalls are protracted.” We believe “the challenges that face the United States are often represented as slow-burning ... threats seem very remote.”
“But what if history is not cyclical and slow-moving but arrhythmic?” What if history is “also capable of accelerating suddenly, like a sports car? What if collapse does not arrive over a number of centuries but comes suddenly, like a thief in the night?”
What if the collapse of our great capitalist world is dead ahead, in the next decade? What if we’re so deep in denial, we are totally unprepared, thanks to today’s zero-interest Fed policy? Yes, you’ve been forewarned: America, and you, are in a loud, rapid countdown to another crash and recession and negative returns till 2020 … tick … tick … tick …
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Any man or nation who thinks he is "chosen" or "exceptional" needs a reality check.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://bit.ly/1LCjofJ
That includes you, asshole. You're in the wrong place...around here we're not gullible muppets so maybe try the mainstream media with your click bait.
If anyone thinks the next recession (within the overall depression) will come as a surprise to central banks left without any ammunition, you've not been paying very close attention.
The Fed and other central banks have known at least as long as we have that they are in a box and their policies aren't going to save us (or them). They're stretching it out, playing for time and making preparations for what comes next. Not sure how they're going to play that, but it's for damned sure it'll be bad. It'll make the last 6 years of monetary fantasy look like paradise.
America is trapped in immorality with the Day of Judgement quicking approaching.
Hey dipwad Farrell,
We don't have a capitalist world and
Global warming stalled almost 20 years ago.
It's illegal for America to think it has done anything wrong.
the muslim activist men, who are being developed by the elites for decades, are now all declareing war on the west due to gay marriage. The gay marriage would never have gotton out of committee in catholic new england without the blessing and knowledge of the elite power supermen who have set up this next war, and the us will take a severe blow and all manner of false flag can be blamedd on the musliims now from every corner of the muslim world as you will soon see, because ALL the muslim clerics will be sounding off about the final straw of the west going gay.
ALSO, to stuff it in the musliim face, media will be showing us vast amount of gay stuff. just yesterday I saw 2 commercials,, one of men kissing one of women in bed kissing. Day one of the vote, on a normal channel. They will not lose control of the financial system, but disrupt it on purpose to kill billions.
yup saw the same shit on a commercial. it is all good. dick up azzez ok.
hershey dick to be licked with a melted marshmellow and graham crackered by two hairy gorillas tossing about.
or two useless(from my perspective) cunts rubbing muffs whilst trusting vibrators and oiling their tittys in a rubfest of stimulation.
moaning heard thru the walls, oh so good...
all good. in merica, land of the freak show both in the bedroom, on tb , well, everywhere...
nope, they are just beginning to premptively cover up their crimes with the new hoopla.
Good article.
Biased shit for a headline, as usual.
The worst enemy of the american people is the .gov
edit enemy of pretty much the good of the whole world
Preparation against bad decisions is not necisary since 1985. 1985 S&L crisis was the last time Corporate excecutives/Banksters were held accountable for their actions.
To think otherwise does not match the data.
You call this irrational exuberene? I know irrational exuberence! This, is no irrational exuberence.
Wall of worry.
Weburk,
Oh, so we should abandon religious freedom (which includes freedom FROM religion and religious persecution) and bow down to your god or else some boogyman crawling around in the deaert is going to come get us?
Reread the first comment please.
How will you know the next recession is really, really bad?
When the Homos prance around to show their "pride", even the hip twenty-something women won't give a shit.
I think people have predicted the end of the world for the last 20.000 years or so.
The Day of Judgement is not the end of the world, it's the start of the new one.
To the Elites and the sheeples, it will look like the end though.
Even a broken clock is right now and then.
The day of judgement is quacking.
LOL!!
"They're stretching it out, playing for time."
HAHAHA!! Not at all. CB's are mere tools of the .00001% who had this planned since the 1970's at least. Everything we're watching has been on paper for decades, even the blow up and discrediting of CB's, which will come.
Why? To allow their power to be passed into even fewer hands. Org's like the BIS, IMF, World Bank will condemn CB's for their "reckless policies" after the crash and everyone will applaud as they assume full control.
Agree. Gary Allen predicted the collapse of the Soviet Union to be followed by the collapse of capitalism as we know it. When I first read his book in 1980, I thought - yeah, right, whatever. But things are unfolding exactly as he predicted. It's uncanny.
just a power play that is culminating NOW. a month is a day as this moves closer to the GREAT RESET. retrace of population to levels that allow the whole shitshow to start from ruins. really same as it ever was only this tyme the healing will take 10s of thousands of years. if the nuclear option comes to fuition millions. otherwise, well how long does it take to undo(corrode and breakdown) all of mankinds distortions? tilling in the fields crumbling to ineffective, oceans restored, land unmonsantoized, ect....maybe millions of years, a speek of sand on the beach, to put it in perspective. earth to fallow, ha...
The Second Law,
Even I as an undergrad predicted the fall of the USSR due to the inefficiencies inherent in communisim and the financial burden of the Soviet military.
This is just a depression!
Like we've never had one of those before.
The IMF already has the SDR waiting in the wings for when the paper burns.
We just wait for the day people realise its all a sham.
To: abuse@zerohedge.com
Subject: Please delete the spammer account "Ultimate_Warrior"
Body: It is a 100% spam account. See their flood of spam comments, here:
http://www.zerohedge.com/search/user_comments?username=Ultimate_Warrior
the account actually goes by several names
That Creepy Cracker is sort of a decent guy...
yup, posts decent shit...
@ultimate: Your three positives are from your troll buddies. What blog do you think this is? MSNBC?
Must be a paid shill for Hedgeye!
Unemployment is +25%, the velocity of money has reached snail pace, and EBTs are virtual soup kitchens. We are in a DEPRESSION!!!!
But aren't stocks making you feel wealthy? Sounds like you need to BTFD!
Yes, friend. We will be Buying The Fucking Drachma! The Chinee and Vlads will help them along just fine.
Well, glad the rest of the world can join me in the depression.
Drinks're on me. Put it on my tab.
I'm currently finish up a bottle of rubbing alcohol from my paper dixie cup. Getting a little tough to read the monitor. I don't know what this depression is everyone is talking about.
Hey! Thought you were going to friend us :(. #butthurt
I was going to.... but then I got high.
dnickle@comcast.net
Always a classic...
https://www.youtube.com/watch?v=WeYsTmIzjkw
I'm just going to set the house on fire.
No Debt,
You must live in Colorado...
Damned those pesky States Rights!
No Debt,
Don't worry about it.
It's just normal life in America for the minimum wage worker.
Some people are afraid... some other people... called the middle and upper class, might experience it.
You don't know any of these people. They would be like your boss's boss. Or maybe your boss's boss's boss.
They are not much different than you. They drink a different kind of alcohol though, in a different kind of glass, and their monitor is probably bigger so it's easier to read.
So anyways, with Greek debt butterflies fluttering around Confederate flags flying on flagpoles made with black slave labor, I got to wondering...when are todays "progressives" going to howl out in righteous indignity to take Senator Robert Byrds name off of every bridge, hospital and library in West Virginia?
Just a thought ;-)
He was a tireless, tireless, tireless servant.
Truly representative of those West Virginia voters with cars up on blocks.
Probably never. They have bigger fish to fry. First the founding fathers must be discredited, then the American flag "redesigned" (almost certainly containing a rainbow somewhere in it's design) and then, of course, the Constitution will need to be "redesigned" in similar fashion.
All that racist shit needs to go and be replaced with something much more "Progressive" and amenable to the NWO.
I'm picturing a flag with a red and white striped unicorn majestically soaring over Mt. Rushmore while shitting out 59 rainbow stars.
Are the rainbow pellets landing on Lincoln? 'Cuz that would be awesome.
No Mt. Rushmore on the flag. Unless all of the faces have been replaced with Obama.
The only thing I see surviving this is perhaps the Statue of Liberty. Because it came from France, which is now a socialist country. A system to which we greatly aspire.
They also have lots of stinky Mormon non-assimilating immigrants. Or is it Muslim? Who can keep track anymore?
.
Only because the guys that steal live power lines for scrapyard cash haven't figured out that it's made of copper.
I'm thinking less stars as the irresponsible states are absorbed by the more fruigal ones.
831kml,
Actually, now that you make me think about it, we probably should push it to 59.
I don't mean to sound like an expansionist Putin, but lets face it, we would be doing the Mexican people a big favor if we just annexed it!
Heck! we should just take all of Central America. Stop at the Panama Canal.
It would make a more defenceable border, (no pun intended... de-fence) Nobody would be dying in the deasert trying to get in.
Probably have to fish some people out who drowned trying.
After all it;s not the Mexicans we hate... it's the poverty that drives them here that's the problem.
Of course we have some poverty problems of our own. But then it is a depression.
... and Caitlyn needs to be ciculated on the tens in our new, "you're-either-with-us-or-against-us," H-1B society.
Soon, Sharpton will be nominated for the $20s.
If there is ANY justice, Sharpton will be on the $3 bill riding a unicorn.
I'm gonna fook the hell out of that thing.
847328
No you don't get it.
It's the new "We are all Americans even though your god tells you some of us should not be treated as if we were." society.
You can beleive in any god you want. But you can't dictate freedoms, rights and liberties based on what you say he wispers in your ear.
No Debt,
It's a matter of perspective. Looks to me like we are finally getting around to ENFORCING the Constitution.
Team Depends,
Yes. Thank goodness we have a Democrat in the White House!
(And he is not doing enough!)
A Republican would have people starving to death!
shoot-there's maybe upward of 15 trillion in pensions funds attached to American SS numbers. Only some 150 million Americans currently have a claim on that 15 trillion.
Those 150 million are besieged-and they don't even know it.
There are 7.5 billion out there with an eye on the pile of treasure -including Uncle Sam himself
I'd say Mozart was pretty damn exceptional.
Chosen would be delusional as an unsubstantiated assertion beyond evidence.
shovelhead,
All of the Beatles too... even Ringo.
Any man or nation who base thier actions on some "Supernatural Belief" whether it be a religion, 'God', or gobblins, needs a reality check.
Some humans are indeed exceptional based on standard metrics.
There are exceptional monkey's too... but they are still monkeys!
every morning i wake up and say to myself, just because i'm getting older, and wiser doesn't mean i am someone special. i seek no legend. i want to be invisable to others. i dress in gray or neutral. no flash, no bling. car is a normal beater. mind my own business. go about as if i see nothing whilst observing it all. we are fucked by any metric available to a critical thinking "normal" human being...
Not everything can be foreseen.
Greece is playing the "fire" card, bringing unpredictable risk into this assymetric war with financial elites. There is not much else to do.
Newsboy,
All this over a debt the size of one small cap company.
Collapse it will because collapse it must. No such corruption will continue it cannot, it must not. Many people will die and not realize they commited suicide and it just took years to catch up. Hopefully the guilty communist mind will die in great mass and rightous selfless minds will revive this place. When the world is done with the corrupt bastards currenlty in control and the ignorat fools who allowed thier power it will be a great day?
I hope I live that long.
replacements will be the same unless they are molded from the american indian ideal...
what a bunch of hooey
I agree, mixed in the commercial for global warming (while not missing a chance to gay bitch slap the "deniers") and the Clinton/Bush choice (without mentioning the Bush connection to the GOP and all of their Koch money - no mention of Soros - or the Clinton corruption on many levels that should have her in prison) was a smattering of market doom to feed the readers (it's all about investor exuberance and has nothing to do with hidden inflation combined with ZIRP, effectively making holding cash a losing proposition on a daily basis).
The writer might just as well have thrown up his spaghetti dinner on the page and published that.
Sure the way I look at it. In 2008 it was "have all the dollars you want"...now with every financial asset in the USA darn near hitting one record after another it's "close the dollar window"?
That sure doesn't sound like 2008 to me...
the markers are placed, but the table has one good leg...
I don't released from college until 2022 the first official year of the onsetting ice age so I'm not worried.
"released?" Never saw that term used with college.
Hilarious
Is that ebonics styke grammar?
as long as you are prepared to die, there's no need to worry.
That's right.
Easy come, easy go.
You forgot, any moment now.
401k -- 190k
Silver -- 20k
Liquid -- 50k
I'm broke and scared! Seriously...
If I have to leave Texas and head "South" I will. But I really dig this State. It's prolly the women.
if only 67 own half the worl's wealth, surley 7 billion could organise a new distribution
Good luck getting 20k silver out the country. No one in America is interested in metals, I've come to that realization. Start moving it out South or overseas now my friend. ..
Correction: Speculators - not "Investors" there is a huge difference. There are no investors in today's markets. Volatility is extreme and Velocity of Money is nearing Zero (it is time to Hedge - pun intended).
It is a great pity as the US has really pioneered the Internet, the computer industries, the electronic and all associated electro-socioeconomic fields and have brought to humanity a great advance for social advancement and evolution, that a few degenerate, ignorant, for-sale (eagerly), corrupt, incompetent out-of-control proto-humans are intentionally destroying - ie the Bastion of Freedom and Liberty, just for a few dollars in their own pocket - dollars that may not be around for much longer.
The US Congresss and Senate (and all that hangs off them) are now irrelevant in the dictatorial (not democratic, a priori) processes of US government by the passage of the Fast Track Bill that permits Law to be enacted without any knowledge of such Law - "It's a secret". Blind - Dumb and Deaf R US
Those behind the great houses of US Technology (Google - Apple and the like) surely know that the World does not hate the USA because of your freedoms and that Islam is not threatening to destroy the USA? Those that resist the USA are the ones that your government is killing and torturing; bombing. Surely you know that your great houses can easily capture the World market due to your own quality of innovation - you don't need these "elite' freaks of nature to put chains on the whole free World. We want your technology and your products and services - we just do not enjoy being torturesd, bombed, incacerated and murdered to say the least. You must also ackowledge as your "leadership" freaks destroy our social infrastructures that we lose out jobs and security and this results in us not being able to buy your products.
Do you know that QE destroy nations; destroy employment, destorys innovation; destory business - but then it makes bankers (and that ilk of ious ignorati) temporarily the custodians of what today is considered wealth. Tomorrow, not wealth.
I have a question of all Americans, especially the Technology "leaders""
Are you all f*cking mad?
http://verbewarp.blogspot.com.au/2015/03/fiat-currency-and-human-behavio...
Economics is about the behaviors of the proto-human - there is no Economic Theory that is not Bankers expediency: Look at Greece as the bureaurats impose destruction to save the wet-dreams of the globo-banker-elites (and their own jobs) - in otehr words, they don't give a rat's-arse about you.
You have been warned - and your lot comes either as Providence or Destiny
by Q4 2015
Ho hum
Nice, educated rant.
why i come here, to know i'm not alone seeing the obvious, the fucking elephant in the gymn as the game goes on, literally, ha...
Wow. I had no idea we got out of the last one.
Fully Agree 500 years ago, just under, Ferdinand Magellan ( although killed en route ) circumnavigated the globe on 'nao Victoria'.
Commissioned by King Charles 1st of Spain was among one of 5 such vessels to set sail. Due to mutiny, battles, running aground, sickness etc noa victoria was the only vessel that returned home with 18 on board from a total crew of 265 between the 5 ships.
The Spice Islands was the Bounty/Prize and 3 years was the journey. Nowadays some knobhead just out of Harvard or Yale will be packaging up some exotic products to fleece unsuspecting muppets from Goldman's offices.
The moral of the story is . . . . .
Interestingly the vessels were build by master boat makers the Basques. Fiercely Independent in Spain ( unless you're basque you can't play football for their teams, Athletico Bilbao ). Seems they were visionaries as witness Barcelona ( Catalans ) seek INDEPENDENCE from Madrid & Spain.
can i say hello?
.
The Band - The Night They Drove Old Dixie Down
https://www.youtube.com/watch?v=jREUrbGGrgM
.
the banksters are desperate,
they want to win the civil war
all over again, in exponential
fashion.
.
dedicated.
The Band, The Weight
https://www.youtube.com/watch?v=sjCw3-YTffo
supplemental.
The Band ... the Weight 1969 @ woodstock live
https://www.youtube.com/watch?v=2Vou51-755I
.
https://www.youtube.com/watch?v=YR6DG1jF1rQ
.
the names have been changed to protect the "innocent".
.
Wilco, Nick Lowe & Mavis Staples rehearse "The Weight"
https://www.youtube.com/watch?v=2WmlUXsjSv8
.
"The Band" was an Awesome! Awesome! band. My wiff was just telling me the other night that there is only one member still alive. I think the lead guitarist she said was still writing music in nY.
Truth is, if you are over 50 yo you have seen and lived the best life that this planet ever had to offer. It's all downhill from here.
Thanks for the Videos!
But but but tent rents are way up.
Everyone knows something's coming. Even the talking heads on bubblevision advising watchers NOT to try "timing the market". I interpret this as a call for watchers to stay "all in". There's a name for people following this advice.....BAGHOLDERS. If I was currently invested, at the very least I would start gradually averaging out of the markets.
I get a little tired of everyone assuming that Americans are all clueless about the future but everyone else, such as the Economist, get it.
Actually, I think the exact opposite is true.
These pages are filled with Americans busy with their own urgent efforts to "opt out" of the central government-sponsored catastrophe that is fast approaching.
Our European friends are sticking with the government.
Our Russian friends are sticking with their government.
Our Chinese friends, the same.
No matter where you live on the planet, being an obedient peasant is not the path to safety.
The Unfaithful Servant - Rick Danko & Paul Butterfield (79.10.12.E)
https://www.youtube.com/watch?v=2iTvJMSYw30
.
If the opposite were true, then how do you explain the presidential election results? Something must be wrong with the mental state of the average voter.
One of the easiest ways to reduce a fortress is to subvert the loyalties of the watchmen on the walls.
Are the watchmen manning the walls of the media being faithful?
Are the watchmen manning the walls of academia being faithful?
The citizenry has placed their trust in these institutions and will not discover that they have been sold down the river until the voyage nears its destination.
Smoothly made points.
(I'll have what she's drinking, please.)
Yes, and the river has a name, Hades, and the ship of state is veering towards the southern bank whilst picking up speed.
Question: Did you pay the ferryman?
Answer: It's a taxpayer funded trip.
It's easy to explain election results. It's called a public education, where few escape the chains of slavery.
Have you visited your local Wal-Mart lately? Therein are the voters, the members of the Free Shit Army, there & in the 'Hood'. I believe it was Jefferson who stated that the only way to maintain a successful 'democracy' is to have an intelligent electorate. Go to Wal-Mart, visit the 'Hood'.....there resides the constituency of today's politicians. The Free Shit Army is in control & until it all goes 'POP' & the piper is paid, nothing will change.
Divide and conquer, that is the strategy of the 1%'ers.
Look in a mirror, and remove that fishhook from your mouth.
Focus on the real problem, the guys behind the curtain, not the guys killing themselves with FSA printed money buying food that kills them.
The United States of America was annihilated March 10th 2008 between 11:00am and 12pm noon Bear Stearns New York City time. Like a thief in the night except it happened in broad daylight, eh. We are not waiting for the next crash given the fact that it is happening in Greece right now. And all roads lead back to Goldman Sachs and their brain trust.
Goldman Sachs ''doing Satans work'' Oy vey
Okay, pitchforks at the ready line!
Dip the pitchforks into Botulism, first.
You can never be too certain...
"America’s 95 million investors are at huge risk"
Everyone wants to be an investor and no one wants to do anything.
I can see a problem, can you?
Like most investors I am a lazy sod who prefers to get my capital working rather than doing anything myself.
Staring up your own company means putting all your eggs in one basket, the risk is frightening.
Investing means spreading your risk and is so much safer.
Money is the only thing that matters these days, why produce anything useful or provide a useful service yourself?
Investing is the future.
Regards,
Charlie Munger
That's fine Charlie, and if you remember the days when investing was investing and not gambling, and if times were like that still, everyone would be agreeing with you.
So it just leaves me wondering how many times will the Irrational Exuberance brigade have to wake up and watch everything go up in smoke, all the while they are locked out of their trading accounts, before they realise that it's one big rigged casino and no one is winning but the dealer.
DD
dear c m, on a long enuf timeline you will lose it all, ha...
When Capitalism reaches its zenith, everyone will be an investor and no one will be doing anything.
Central Bank inflated asset bubbles will provide for all.
The biggest market in the world today is derivatives, money making money without a useful product or service in sight.
With the market in derivatives being ten times larger than global GDP we can see that making useful products and providing useful services is nearly irrelevant even today.
We are nearly there.
What could go wrong?
You could try to open door #4 and it would be nailed shut. That's what.
I stopped reading at "Much needed, highly effective “growth boosting investment in infrastructure,”
SpaceX should be launching in just a few hours actually...
Well, AmeriKa does have homosexual marriage, so we've got THAT going for us...
/sarc
I expect the Arab communities are pleased with their new American Constitutional rights.
Sharia Law will be gone like smoke.
The marginal fringe of "cork-soakers", "butt-forkers", "carpet-munchers", etc. have little to do with the BIG picture. They just wanted to be heard. Same with the 11% that cause the bulk of the "trouble" & do little of the "work". Hell, they spend every nickel so's they don't have much say in the matter. It's the SOB that has worked & saved just to see the efforts go for naught that is taking it in the arse......& will undoubtedly continue to do so. Somebody's got to pay for all the foolish bullshit!?!
Guess you missed the "/sarc" tag, huh?
Very appropriate for the Economist to warn for the next recession. You have to be totally clueless = economist to not see that we never left the recession/depression.
Every non economist knows what is coming only the media and politicians keep this burning theater alive by distracting the audience until they are trapped.
Anyone who says : " ...or today’s massive takeover of American government by an anarchistic oligarchy of superrich billionaires."
should not be take seriously. Anarchist means 'no government' How can anarchists take over the government? How can they still be called anarchists?
It's facsism, according to Mussolini.
Fundamentally , the flaw is that all men are mortal.
For this type of activity to go on more than a generation, there has to be some one to pass the legacy on to , or we get into the immoral, immortal beings such as fallen religious gods.
Anyone who says : " ...or today’s massive takeover of American government by an anarchistic oligarchy of superrich billionaires."
should not be take seriously. Anarchist means 'no government' How can anarchists take over the government? How can they still be called anarchists?
It's facsism, according to Mussolini.
"Fuck while you can." is a pleonasm.
Not according to my girlfriend
Paul Farrell is a useless idiot with his claims of "climate denier". You Mr. Farrell are a real science denier. You believe in the fake hocus pocus of climate science which isn't science at all. It is your religion. This is science fuck face...
6CO2+6H2O -> C6H12O6 +6O2
It's called photosynthesis Paul. Plant Biology 101 you science denying cunt...
I divorced myself from the system some time ago and can quite easily survive in a tent down by the river if I have too. Don't want to but I can if I have to.
https://youtu.be/gSM8Okj_4TI
that video was the best laugh i've had in a loooooooong tyme...
Do you really expect from a car salesman to tell you how much his car sucks? Break incestuous relation between bankers who are just salesman and SEC, FED and criminal justice system that suppose to rein them in...
massive takeover of American government by an anarchistic oligarchy of superrich billionaires.
anarchistic?
i do not think that word means what you think it means...
I think he means that laws do not apply to them - we get overreaching government and they live according to their rules and own government, but your right not really correct.
Paul Farrell you have wasted my time and useful photons
"America’s not prepared. You are not ready."
Speak for yourself. I read the handwriting on the wall several years ago, and I've been preparing. I'm not at all "invested" anymore, and have been stacking as much as I can. I keep plenty of petty cash handy, and keep only a few weeks expenses in the bank, for auto-bill paying as it comes up. ( you can't completely divest from the system, but you do what you can.) If the banks collapse, I lose very little.
More importantly, I have gotten it into my head that no one is going to come around and rescue us...we must all be ready to rescue ourselves.
All one can do is try to keep as much under our control as we can. This means cutting the cord to the current financial structure, so when it collapses it doesn't take you down with it. Not to say you'll get away unscathed, mind you. A collapsing structure can do a lot of damage even to those not inside of it. But your chances are better the farther away you get.
Fellatio Farrell seems, in his haste to crucify the GOP, to ignore the last 6+ years of the vilest, most criminal POS liar in Presidential history, and his attendant moron douchebags helping to bring this once-great nation to the edge of collapse (may start Monday). It is NOT "Big Oil" that is the issue here, imbecile... it is Big Bankers and their Central banks... who own 80% of all traitor politicians and rig 100% of all markets (for now).
it's going to be interesting times in the near future in america, there's going to be a new American revolution, as in 1776, just one difference. 50% of the population will already have extra-ordinary constitutional civil rights, and there will be very few if any patriots.
Show how you really feel about the current state of America this 4th by flying your flag upside down.
"irrational exuberance". That's fucking perfect! Blame it on the little guys. What about 24/7 bullshit propaganda? Wanna try that one on for size?
" 67 of whom own half the assets of the entire world "
Well yes and no.
That half of the world's assets are smoke and mirrors.
Do you think IBM stock, JPM, Micros**t, Swiss Re, BP, Caterpillar, an apartment building off Central Park has any real value? Not for long it doesn't.
... mortgage bonds, student debt CDSs, Louis Vitton handbags ....
?