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"There's A Bubble In Pessimism Worldwide, Come On, You Read Zero Hedge!"
GFI's John Spallanzani came on CNBC today and decided to make the case that there is a bubble. But not a bubble in stocks which are trading 1% off their all time highs, at a 20x real P/E multiple, and 1400 days without a 10% correction, mind you, but a bubble in pessimism.
Here is his "argument", deconstructed in its several key components.
- "If there's a bubble in bonds, there has to be a bubble in pessimism."
Apparently, Mr. Spallanzani does not quite grasp that the only reason bond prices are as high as they are (to him, that means a bubble), is because the central banks are now buying more than 100% of all net issuance.
It also appears that the very logical conclusion that if there is a bubble in bonds, then there is clearly a bubble in stocks, because once the bond bubble bursts and interest rates soar, what happens to earnings? Or perhaps GFI employees just haven't covered yet the arcane linkage between the balance sheet and the income statement.
Ironically, in the very next sentence the CNBC guest says that "there is a shortage of quality assets in the world" (which actually is spot on as we showed in May of 2013), but apparently another class not discussed at GFI is that "quality assets" are bonds, not 100x (or Div/0) biotech stocks.
Then there is a lot of even more confused words, followed by this pearl: "the only way the Fed is going to hike is basically the S&P going toward 2200. If we stay at 2100 or below, the Fed doesn't go in September."
Then comes even more confusion: "the only game in town right now are equities to drive the balance sheet of the individual investor and also the consumer."
Uh, what?
Unwilling to risk a subdural hematoma from trying to decipher what, if anything, that sentence even means, we trudge on:
"If you take energy out right... energy really cratered... the earnings are not that bad", and when someone interjects that revenues are bad, John's response is: "obviously we can debate that."
Actually, no we can't:
... and as Factset notes, "Revenue Growth Not Expected to Return Until 2016"
But ignore reality because John plows on: "the trajectory of earnings is up, we're not going into a recession, therefore all the liquidity that's sitting on a sideline has to go somewhere and that place that it's eventually going to is equities, that's what happens."
Uh, what... again? Some circular argument which is made whole not because of some cause-effect link but because "that's what happens"?
At this point we are getting concerned that Mr. Spallanzani has absolutely no idea what he is talking about.
For better or worse, his CNBC hosts did too, and the camel's back finally broke when asked if he has any clue about ETF flows (he does because "I trade ETFs all day") he, surprisingly accurately, notes that "flows are going into IWM, into biotechs and going into QQQs", which incidentally are only the story stocks, those trading in triple digit or higher PE, Spallanzani totally cracked, and having no response at all, came out with the following absolute stunner:
- "There's a bubble in pessimism worldwide, come on you read Zero Hedge."
And cue laughter.
So there you have it: when you are fresh out of any legitimate arguments, what do you do? You name drop Zero Hedge and use its readership as a benchmark of rationality or, as the case may in this particular very, very confused case, hope it's sufficient to "prove" that there is a bubble in pessimism... or something. It wasn't exactly clear by this point in the interview what John's point was, or if he even had one.
And while we probably should be grateful for that assessment, because for whatever reason Zero Hedge traffic was indeed an all time high in July, the fact that it originates from someone as confused, albeit a religious reader of this website, as Spallanzani we'll just avoid commenting altogether.
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Why not be pessimistic? Only the debt ponzi keeps the world from collapsing.
Don't be a bubble head! Buh Bitcoin!
https://localbitcoins.com
I appreciate the Tyler's monitoring cnbs because I don't watch it.
Updates like this are rather hilarious.
Cocaine is a hell of a drug.
LOL. Yeah, what else can you say. It worked once; and they just keep chasing that high; all the way to Bankruptcy, Jail, and beyond.
And it ends with an empty wallet, a limp dick and a nose bleed, but they don't tell you that.
If you are not slipping into, in the midst of, or recovering from a bout with deep, dark rage then you are not paying attention.
It takes strong anti-venom to neutralized the toxins CNBS is pumping.
ZH is that anti-venom.
Who ME pessimistic!?
Why of course not John!
https://www.youtube.com/watch?v=jfNajFYPljQ&list=RDjfNajFYPljQ#t=18
See???
Upton Sinclaire
You better tow the line or you're out. https://youtu.be/79HLnTPxMho
Spallanzani can quote me all he wants. I say he's an idiot. Let him demonstrate otherwise.
The Zerohedge community adheres to a religion of pessimism, even as stocks continue to make all-time highs, and our economy and housing market continue to recover. There is absolutely no denying that we are in a strong recovery - NFPs have been consistently positive, interest rates remain low, and stocks continue to rise. All of these indicators point to a sturdy, unshakeable recovery that continues to chug along despite the perceived 'economic turmoil' in Europe and China. And as our Federal Reserve and government continue to nurture this recovery with monetary and fiscal stimulus, we can expect to see more improvements and a new age of prosperity emerge in America and the rest of the world. So raise your heads, relax your shoulders and smile - you live in the best country in the world on the precipice of untold economic prosperity. Never before have had the opportunity to live under such advanced scientific economic management, and to reap the rewards thereof. This really is, to put it simply, the best time to be alive.
Spallanzani, are you MillionDollarBonus_?
MDB_ is a poor imitation of MDB, and his weak trolling pales by comparison. But he sure enjoys wasting his time for his 10-15% of viewers who fall for the bait...
I actually thought this latest rant from MDB_ was pretty good...
they arent rants, they are troll attempts that virtually no one falls for, and he's ripping off the name and the style of someone else from years ago. It's a lot of effort to put in to try and get some internet "love me". Some of them are better than others, but his average scores about a 2.2/5 versus 4.5/5 for the bloke he is copying back in the day.
Playing devil's advocate, if one were to take the information on Zero Hedge and avoid stocks, and buy PMs at all time highs, they would have gotten reamed.
I do enjoy reading this blog for its different perspectives, but at the end of the day, I am subscribed to other newsletters that actually provide better information for closing deals.
Fight club is entertainment and agree with ZH's disclaimer. My mentor reads ZH purely for entertainment, and laughs because it doesn't "get you paid". He laughs at CNBS for different reasons, so from his perspective, it's the pot calling the kettle black for CNBC mocking Zero Hedge.
It's been months since I've posted on here because I've been busy lurking on other sites with what little freetime I have anymore, but it's the same old right-liberatarian drivel whining about free markets, when markets were never free to begin with.
Instead of getting "outraged" about HUD and EBT, there are strategies out there to profit from this set of circumstances. I know it's easier to flag wave Americuh and get angry and outraged over reactionary topics, instead of actually seeking out opportunities and being successful. Never before in history has there been so many entrepreneurial opportunities out there, but instead of taking the leap, it's easier for Joe the Plumber to whine about Obama. With eCommerce, and LLC creation, and Square, and all sorts of tools out there to make startups easy, people would rather whine about the job market and tune out drinking beer and watching ballgames instead of staying up late working part time on their fortune. Jim Rohn used to blame the traffic, the weather, taxes, and the government, for all of his problems; but his mentor corrected him, and told him you can only blame yourself.
I've pretty much abandoned my "patriot" views and now see the world through the eyes of the big boys. I tried hard for years to create a mass awakening, but most are interested a pointing fingers at J00s or the Pope, or masonry, or someother boogey man conspiracy. they have zero intentions of actually going on a journey and living their lives. All the patriot's shortcomings are blamed on the illuminati instead of their own lack of motivation. Finger pointing is useless.
Bravo.
Come on gang lets singalong!
Scooby Dooby Doo where are you?
I'm surfing on state media.
And Scooby Dooby Doo what are you up to?
Ruh roh Shaggy!
http://www.youtube.com/watch?v=gUdG0RYd6jk
To all those fresh eyes looking at ZH for the first time:
You are about to enter another dimension, a dimension not only of sight and sound but of mind. You are entering.... the Twilight Zero.... where debt is NOT mistaken for Capital... where opinion is NOT mistaken for fact...
Now that's one greedy fuck assclown desperate to sell now.
Booyah!
I would consider being laughed at by the pundits on CNBC a triumph and would wear it as a badge of honor... CNBC's new moto is we-be-assclowns 24/7/365...
Further confirmation that ZH is the new Drudge.
I only listen to Russell Napier
http://www.planbeconomics.com/2015/07/russell-napier-inflation-deflation...
MDB....live forever!
Now we need to rally and elect either Hillary or Jeb.
Given the opportunity I'd try to dose them with LSD and Strychnine.
Did the talking head also mention the endless popup ad here?
Anyone with an IQ above low-grade-moron knows about AdBlock or Adaware... What's your excuse?
Well did anyone mention that Homeland is going to start requiring a license to post comments on ZH starting 01/01/2016? Huh smart guy?
Scooby out!
just information, they want to shut down for 5 days the Computer-Network in the german parlament!
on the 13th of August!
http://deutsche-wirtschafts-nachrichten.de/2015/08/01/wegen-cyberangriff...
if you didn't use zh to make money then you are stupid. you have been here less than a year and have been away for months. that means you were never really here. your huge opportunities do not translate into gdp so that makes that bullshit. you've established your troll credentials now go away for months again.
I've been reading ZH since 2009 because Max Keiser cited them frequently.
ZH has made a lot of bad calls particularly in stocks and PMs. It's fun a site, I'll give it that, but to make investment decisions based on it, well the track record speaks for itself.
I know Peter Schiff's material is regularly cited on here, and he always brags about calling the 2006 housing peak, but that was almost a decade ago. His predictions have been wrong ever since.
Thank you Tyler for posting this. I could not bring myself to watch CNBS today after the ECI report because it was going to be blown up into mega-bullshit about how this means new efficiencies were created to keep employer costs down.
dup, sorry
Excuse me, but I never see Zero Hedge as "making a call". In fact, they appear to me to be generaly skeptical of anything of the sort. And that seems to be the point. "Information" is a concept they want to make sure you take a closer look at. Thats why I read it. And I wish everyone did.
The fact that negativity is no excuse for inaction doesn't justify the shit show.
Cool story Bro...
Not cool. He does not understand what Fight Club and Project Mayhem is. Wake up humans! If you keep on walking around with your head buried in your 'cool' cell phone app you end up with Scooby doo on your shoe a-roo-roo-rooh!
We can't all be undertakers making a living off of the misery of others, especially when the undertakers are the ones spreading the deadly virus.
"if one were to take the information on Zero Hedge and avoid stocks, and buy PMs at all time highs, they would have gotten reamed." NOT TRUE if you analyse that info. I am not a Wall Streeter so ZH provided me with some great and valuable info. I learned about Blythe, massive PM, stock and everything-else manipulation, PPT, HFT, Spoofing, black pools, etc. and it helped me decide to dump PMs well before they caved as the feeding frenzy was becoming extreme, which the FED manipulators were sure to squash any moment. ZH also helped me realize that QE was a good reason to jump back into the market despite the tepid recovery and take a nice ride up. My eyes have been opened to reality and I would never make a decision based strictly on what the CNBC crew or government statistics tell us. Regarding the economy (which is not booming due to healthy reasons, such as increased prosperity and growth of the middle classes), and the booming "recovery" of real estate, I know that home ownership is down (by reading ZH) but housing prices are way up, particularly here in Silicon Valley. So, why is that? Could the massive windfall from a bunch of social media IPOs have anything to do with it? How about the tanking of the Chinese bubble? And then there is Greece and various other bankrupt countries? And the crash of oil prices? Huge numbers of the wealthy and upper middle classes in numerous countries around the world are afraid to lose their money so where should they put it? In U.S. real estate perhaps? And Silicon Valley is a favorite. (I did confirm with several realtors I know that there are a large number of Asian investors buying up homes, while there is very little supply being added.) Is it going to be over soon for us? Are we going to implode? I doubt it. The world is a mess and perception is that the U.S. is still safer than anywhere else because we are still the reserve currency of choice. And many Americans are still in deleverging mode. Putin and the BRICS may be making small dents into our monopoly, but, when push comes to shove, who do you think will win? Putin or the western banksters? I know who my money is on. Until the globalist are ready to implode everything so they can introduce a worldwide currency, I am not too worried. Our economy is just not that frothy, except real estate, and that is for a valid reason this time, rather than flipping. If there was a social media company on every other block getting ready for an IPO, it would be time to bail. Of couse, a black swan like the detonation of a rogue nuclear bomb, could throw a serious wrench into the spokes, so to speak.
https://www.youtube.com/watch?v=Z7BuQFUhsRM
The 9th Doctor - I miss the pledge of allegiance. The concept of liberty and justice for all kind of patriotism. Markets were never free but you are not discussing scale.
When liberty and justice are eroded, one must spend time finding methods of avoiding criminals. Gouging from corporations and government from every angle and defending my money is part of a risk management strategy. It is why I come here.
Your mentor is smart for continuing to dance and advising you to do so in making money. I repeatedly suggest the same here. However, growth slows and dies when the top (absolute power corrupts absolutely) understands the concepts of liberty and justice but focuses on equality. Which is just a form of tax policy and vote buying strategy at the end of the day.
If you have liberty and justice (all follow the same rules) it advances equality.
I think one should hold others accountable for criminal behavior and spend time pointing out the high scale of lawlessness that exists currently. Your mentor doesn't teach you to give back to the community? Mine (Richard Langevin) said to me "your bright and will do well, but always find a way to give back to the community." Balance between investing in your personal fortune AND the community is key.
Life is a lot better with money to leverage and people to deal with crap for you. But the majority is losing ground and using debt to delay needed reorganization.
Good on you for looking at sites that help close deals. Tom Hopkins "How to Master the Art of Selling" is worth every penny. Works for business and personal negotiations.
People drink more to deal with empire and lawlessness near the end of one. We're all soviets now.
Agree hammer, the original MDB was legend, but you gotta admit this one was pretty good. ;)
http://www.houstonpublicmedia.org/news/greater-houstons-annual-employmen...
... but the demand for janitors, waiters, and hotel maids is robust!
Awesome!
See, and you thought all the Dreamers were here to rob you.
What about the original Chumba? "I will not OBEY!" A wild beast who sprung from his cage. Then when papa threatened to cut the funding the 800 number disappeared and The Notice On Racial Discrimination appeared.
Who dumbda Chumba? A roo-rooh!
That was one of MDB's better posts! Really enjoyed that one. I suspect MDB is either an actual Federal employee or a comic genius.
MDB is a criminally chronic masturbater who lives in Paul Krugieman's slave pit and is allowed to post when he puts on the lotion for his master.
Can't be. Spallanzani is a moron, not a shill.
You crack me the fuck up Dude.
I agree with some of that, but I don't live in Sweden.
"So raise your heads, relax your shoulders and smile"
So this is what you do immediately after sucking Janet Yellen's dick? Good to know bra.......
Gold plated sarcasim..... "So raise your heads, relax your shuolders and smile..."
Selfish as some say he is, I would bet that The Krugernator would indeed give MDB the courtesy of a reach-around should the circumstances warrant it after reading this summation of the new normal.
such eloquence!
It's called a fucking bullshit meter that actually works, you troll or instigator.
Now THAT's some vintage MillionDollarBonus! Welcome back.
Now we know who Mr. Spallanzani is! It's the world's Greatest Loser, MillionDollarBonus!!!
Joe "the Weatherman, LaVorgna... You're on ZH? I thought I recognized that yippee skippy attitude.
I'd pay good money for some of whatever is painting your world such a rosy hue. Best time to be alive as opposed to somewhere in the near future when Fate slips you a red pill or your masters have no more use for you....is that what you meant?
The Zerohedge community adheres to a religion of pessimism, even as stocks continue to make all-time highs, and our economy and housing market continue to recover. There is absolutely no denying that we are in a strong recovery - NFPs have been consistently positive, interest rates remain low, and stocks continue to rise. All of these indicators point to a sturdy, unshakeable recovery that continues to chug along despite the perceived 'economic turmoil' in Europe and China. And as our Federal Reserve and government continue to nurture this recovery with monetary and fiscal stimulus, we can expect to see more improvements and a new age of prosperity emerge in America and the rest of the world. So raise your heads, relax your shoulders and smile - you live in the best country in the world on the precipice of untold economic prosperity. Never before have had the opportunity to live under such advanced scientific economic management, and to reap the rewards thereof. This really is, to put it simply, the best time to be alive.
beach please.
i seriously do not know what is your specific drug preference, but obviously it's one of the most powerful to blind your senses, especially your seeing sense, because if you were looking correctly to the REEL economy you should have noticed that not a fucking dollar has been injected from QE1 to the reel economy, it's just manipulating numbers to rebalance a system that is damaged and dying.
your counry is broken, you got almost 20% of population unemployed... ( 63.4million people : france total population ~~ )
http://img.agoravox.fr/local/cache-vignettes/L500xH320/Shadowstats-2-2ba...
check how magically the recovery change direction past 2009... how convenient... new method of counting maybe ?
you call a recovery when 20% of population do not work ? is that a reel economy ? you are lost on you own void man.
stop drugs, hurry.
real
well unless you're talking about the economies of Zebco, Abu-Garcia, Daiwa, etc.. if so then please disregard.
All time record "Presented without Comment".
Something so trivial has brought the sunshine out on Friday.
Thanks.ald
Being pessimistic that illegal and immoral activity will continue ad in finitum is actually optimistic.
1) "Shortage in Quality Assets" (what a joke...there is a surplus of drunk homeless fiat that can't find a place to spend the night, and you blame that on the "quality of assets")
2) "pessimism bubble" (you only say this because you're a Multi-Level Marketing Stock Salesman - or, you WORK for the MLM)
Okay...I'm in Houston, which is'nt the same as other places in the country. HOWEVER...I do not see pessimism here ANYWHERE.
Every day I see hundreds, probably thousands of people who make 1/3rd of what I make, driving cars that are twice as expensive as what I would drive. I think every under 30 couple who has a combined income over 60k is driving a BMW. The mall parking lots are still stuffed...of course, I think it's crazy...but I can't even say anything about the future in my circles becuase people will think I'm nuts. I mean...who can you have an intelligent conversation with (other than ZH'ers) about the fact that a 19 Trillion .gov debt will end badly? Who? NO ONE!! This guy has no idea what pessimism really means. But he's young...and he will.
"It takes strong anti-venom to neutralized the toxins CNBS is pumping."
Seriously? Why pay attention to what some slag on CNBC says? They were laughable in 1999 for god's sake.
Still, they had some good commercials back then. Anyone remember the guy with the magic 8 ball, or the fund manager getting online trading advice from the gay guy in the massage parlor? Then there was that old Jewish gal: "I gatta stawk split! I gatta stawk split!" Oh, and the plaid shirted dad in his den, showing his son how to trade commodities....LOL.
Gawd, I miss those days.
Yes, rage. It is asswipes like Spallanzani that sell Mom and Pop a wheelbarrow of manure for $10,000 and pat them on the head.
People are trapped in 401K's, IRA's, and Pension Funds - they are the livestock for wolves like this prick, and that's an insult to wolves.
"An astonishing $32 trillion in securities changes hands every year with no net positive impact for investors, charges Vanguard Group Founder John Bogle. Meanwhile, corporate finance — the reason Wall Street exists — is just a tiny slice of the total business. The nation's big investment banks probably could work for less than a week and take the rest of the year off with no real effect on the economy.
"The job of finance is to provide capital to companies. We do it to the tune of $250 billion a year in IPOs and secondary offerings," Bogle told Time in an interview. "What else do we do? We encourage investors to trade about $32 trillion a year. So the way I calculate it, 99% of what we do in this industry is people trading with one another, with a gain only to the middleman. It's a waste of resources."
Rent seekers
It's a lot of money, $32 trillion. Nearly double the entire U.S. economy moving from one pocket to another, with a toll-taker in the middle. Most people refer to them as "stock brokers," but let's call them what they are — toll-takers and rent-seekers. Rent-seeking as an occupation is as old as the hills. In exchange for working to build up credentials and relative fluency in the arcane rules of an industry, one gets to stand back from actual work and just collect money. f you're a normal retirement investor trying to get from A to B and retire on time, well, you have a really big problem to face: The toll-taker wants your money."
http://www.marketwatch.com/story/why-99-of-trading-is-pointless-john-bog...
has to be the ugliest 5 people I've ever seen on one "panel" ... holy fuck
Thank heavens Kudlow and ugly Brad Blakeman weren't thrown into the mix
"Mom and Pop"
Elvis has left the building, man.
Where have you been?
Slip sliding away, slip sliding away, oh the nearer your destination the more you slip sliding away.
The power of accurate observation is commonly called cynicism by those who have not got it.”
— George Bernard Shaw
Most of the people on this website seem to be ideologically or even religiously invested in "watching it all fall apart". Fascinating, but unnerving.
Well, seeing YET ANOTHER communist utopia fall to pieces is pretty damn hilarious, despite the fact that we will all get burned. But don't you worry Eirik Marx-Leninsson, your socialist paradise exists in the future. Always in the future.
Valhalla
( oh that's reserved for warriors. Where does every one else go? )
Heheh. Now I have to wonder where Rollo ended up after his passing? The founder of Normandy was a Viking warrior who converted to Christianity. He was an interesting fellow, that one.
More on topic, is "TeamDepends" aware that the Great Financial Crisis has been precipitated by unfettered Capitalism? I.e.: That the banks gambled much of his country's wealth away on junk bonds, and the like?
(voice of Sulu): Oh my! Free-market capitalism was, like the Dodo, hunted to extinction in 1913. Since then there have been reported sightings, usually of exhausted, gasping animals crawling onto shore, but they can not be verified.
It's not falling apart, it FELL apart.
The Northeast is now called the rust belt. Detroit was the powerhouse of global industry is now bankrupt and ghetto. Entire neighborhoods are actually turning back into forest.
The industrial age is obsolete and we now live in the information age.
The majority of the readership is upset about the job loses, because big daddy Ford is no longer around to provide jobs and pensions, and instead has robots doing the mundane repetitive tasks. The irony is the readership wouldn't want a manufacturing job anyway as they are mostly financial geeks who don't want dirt under their fingernails. They rather have sub-minimum wage druggies turn the rivets as opposed to efficient machines performing higher quality and consistent work. Then make the claim that these rivet turners don't add any value to the marketplace.
The irony is, is that intellectual capital will meet the same fate in 2050 when A.I. will surpass singularity, and become more "intelligent" than all 7 billion humans combined with the help of the NSA spy grid that Snowden exposed. Finance and real estate gurus live the high life today, but their days are numbered too when A.I. can close deals more efficiently than they can.
Yes.
Mass automation + high potential for AI = why invest in a college degree for your kids?
Educate them, absolutely. Chase a paper ceritificate? Nah.
trade schools
bogus bull shit Larssen-----the great financial crisis was brought to you by corruption, usery and facism----any one who is not in debt, has a small bit of property, some cash stashed and works in a small cash business that they own has no problems right now. What does that tell you? ---hum??
usury*
fascism*
lrn2fkkinsp3ll
The economic crapper was brought on by "unfettered capitalism"? Unbelievable. Try unfettered government and an unfettered central bank, neither of which is a trait of unfettered capitalism.
"oh that's reserved for warriors. "
And kittens. Don't forget the kittens!
https://www.youtube.com/watch?v=m0P4rPOaNb4
OK, asshat, let's go with your thesis. Why are there so many of us invested in watching it all fall apart? Is it because we are ready to pick up the ashes and build something better, something sustainable? That's the case for me. I don't want to leave my kids with this stinking shithole and force them to have to piece it all back into something actually livable. Instead I want to be the one who starts it on the right direction. Sure, I'm not Thomas Jefferson, but I can be one of the peasants who recognizes what is needed and does my part. And that will be a huge departure from what we presently have.
Maybe you have been watching too much CNBS, calling us all pessimists. We're realists and even optimists. We're just ready to start the heavy lifting if dipshits like you would get out of the way of propping this joke up.
Because sometimes the best opportunity to learn is from the collasal failure of others. Some snapshots of time are preserved for millions of other civilzations to learn how to never, ever, run a civilzation or a planet. Earth is the greatest example of failure to ever have existed. To run it's gauntlet is a privilage to learn in a pressure cooker how to achieve great things...outside of the snapshot of time on earth.
Think of it like a civilzation boot camp and a daily list of things that destroy chances at success in a society governed by metrics that measures success without merit. That's what's fascinating. Now what do successful students learn that come to earth to become educated in the school of failures and fuckups?
Benefits of learning from failure:
1) Failure teaches about real success, and the the very real fact success rarely comes from a lottery pool of people getting their big break. Most people work their asses off to achieve the mundane to the amazing. They plan. Work together. Develop goals. Then build it. No magic, just work.
2) Failure teaches students that there is no single fixed method to developing a solution. There is no hammer and there is no spoon. But there certainly is a leatherman tool with two dozen options at any one time.
3) Failure teaches blind trust is for morons and flowery words, while polite, don't necessarily equate success or NOT getting robbed blind because the nice man on the TV says things are okay. Teaches how to use your instincts to help make proper decisions based on common sense and what's available.
4) Failure thickens the skin against future failure. Pain tolerance and a sense of humour happen pretty quickly.
5) Failure teaches to be ready. Because if a person isn't in doubt, they should get in doubt to analyse what's actually in front of them. Not in terms of paranoia, but to actually have other plans.
6) Failure teaches merit. Where to find it. What works, what doesn't. Who has it. Why they have it. When is it applied. How is it accomplished...by observing those that don't have it run around like morons.
Failure is a fantastic teacher.
Amen!! Mr Depends.
Well, I think they are at the paranoia stage....which usually occurs after a 72hr binge. Soon enough, a collapse is inevitable. Been there, done that.
it would be best if he did a Mike Tyson and "just fade into Bolivian..."
His dealer is cutting his with strychnine.
nah, its gotta be that baby POWder.....
baby laxative
Inositol.
Available behind the counter at your local health food store (because the crack heads shoplift it, not because the feds want it off the market)
What other product can you buy at $20 oz. and sell at $2000 oz.
Nosenseatall.
---the premier gate way drug---easily obtained ---most just pull it out of their ass---
what other drug is absolutely free and ends up costing you everything?
will be back to Dad's pizza shop when the mkt collapses, yo pops we gotz a custuma,
You said it Rick, it sure is.
https://www.youtube.com/watch?v=-0CM1cYSDos
<iframe width="420" height="315" src="https://www.youtube.com/embed/-0CM1cYSDos" frameborder="0" allowfullscreen></iframe>
The road - Jackson Browne
https://www.youtube.com/watch?v=zTaVlQ8v1cQ
there is a major bubble in ass-hats talking
dog shit as if it matters on television,
major over inflated bubble but one of many.
I hope stupidity, lies and zionism are all bubbles.
And I appreciate CNBS monitoring ZH where the comments -- such as 9/11 being a big fat fraudulent dildo shoved up America's and the world's collective terrorist weary ass -- has a forum. Thank you, ZH.
Sheesh. Would you buy a used car from anyone of these people? Yeah, we read ZH and all the rest of 'em. The 1% (or less) are cleaning our clocks whilst our politicos sit by and diddle themselves.
The people they ridicule are the people they fear. Keep up the good work, Tyler!
Both ZH, along with many people who comment here, INCLUDING MYSELF, ridicule CNBS.
Do you fear them? Do I fear them?
No. No, I do not have any fear of them whatsoever.
Thus I must disagree with your post as that knife cuts both ways.
Agreed. very funny. Trying imagine what my neighbor, Joe Q. Average makes out of this Mare's Nest. Must be confusing. They're trained to do what the nice man on TV tells them to do; but what is he saying ?? LOL.
who's the reptile interviewing him?
TV and Zollywood is for retards who like supporting the scam and enjoy being feral little sheep.
Freddy,
Seen any good movies lately?
Freddie, I love movies. You could say I'm a movie buff. Not all of us are too dumb to notice when we're being fed propaganda, though.
Also, I don't support Hollywood because I don't pay for the movies I watch, thanks to all of the wonderful technology out there that allows people to share files.
http://www.htpcbeginner.com/best-kodi-addons-2015-for-cordcutters/
What is funny is that there is even a better way.
I buy scrap computers. Now I pay little for them. A buck...maybe $2. People throw them away.
It is amazing what people actually throw away...Then the homeless sell these to me.
They throw away those Dish Network and DirectTV satellite Boxes also...with the RECORDABLE option. They also have a fat, juicy Hard Drive sitting inside of them.
What do you think that is on all of those Hard Drives (Besides personal information, operating systems, etc...) that I have bought...for nothing?
MOVIES.
But I might even find a BTC wallet or two....
Then this homeless man delivers me an External Drive loaded with TWO DRIVES, each with a 4 TB capacity..for only $2.00?
First lesson...BE CAREFUL OF THROWING AWAY ANYTHING WITH DATA. The homeless do Dumpster Dive and that information is valuable. Furthermore so is the HARDWARE as I PURCHASE IT. Be thankful that I am not going to package the information and then sell it.
I PRACTICE PRINCIPLES BEFORE PROFITS AS MY ETHOS.
Second lesson...TRUST. If you are even going to donate your computer to one of those Unwanted Electronics Drives...for charity...you had better be certain that you know and have established TRUST with the organization.
Those people generally SELL the unwanted Electronics to...vendors...who ship them over to that most trustworthy of all nations...CHINA...cough..ack...gag...vomit...in order that their folks will tear them apart.
So just how trustworthy are the people who run these "charities" after all?
I figure that I have about 50 Hard Drives stacked up right now...scheduled for demolition...after being scanned.
The MOVIES are "free" after all. (Well at $0.40/hd drive...they cost me about $20.)
You are afraid of NSA snooping?
The sad TRUTH is that many of you are your own worst enemy.
FUCK YOU NSA.
<<I appreciate the Tyler's monitoring cnbs because I don't watch it. Updates like this are rather hilarious.>>
Seconded. Thank you, Zero Hedge, for viewing the propaganda so we don't have to. I usually don't even bother to click on the MSM-centric stories but this one was too hilarious to pass over. Great write-up, Tyler. Thank you for busting up my otherwise pessimistic day with a big laugh!
I find it odd that the Tylers take the comment out of context...why did you leave off part of the sentance? "Come on you read Zero Hedge in the REST ROOM"
the fed only had to print 3.5 trillion and the ECB and BOJ are currently printing billions to maintain the bubble i see in hope.
ZH traffic at an all time high....CNBC viewership at an all time low. Here we have two worlds colliding, or perhaps two ships passing in the night.
And one of those ships just took lock-on from a reality torpedo --
You're just proving his point.
Inverse Correlation.
Read the Obama antichrist prophecies, America is about to go over the cliff into a very deep abyss.
http://revelation12.ca
Donald Trump is The Antichrist.
Jesus VS. The Aliens.
Can Jesus sing like Slim Whitman?
Stay tuned.
the Titanic did not sink because of pessimism and neither will this worldwide wealth exchange. it will sink from very real problems that could no longer be put off.
Business Insider also uses "bubble in pessimism", it's the other form of "CASH ON THE SIDELINES!!!!!!!!!!!"
For now.
This reminds me of chimpanzees sitting around hooting and squalling as they do, then one of them shits, grabs their turd and start slinging it around and the hooting and hollering only gets louder while they are splattering their excrement amongst themselves.
I will be glad when this shit is finally over, I have scores to settle
Gold Silver
Equities Stawks bonds
To be fair, he is correct that there is a bubble in pessimism...have you seen the latest survey to show how many are happy with the job congress is doing.
"...central banks are now buying more than 100% of all net issuance."
And that is also why the Fed can't and won't raise rates. If they and other CB's are the main holders of the bonds then wouldn't raising rates pretty much destroy their own books?
"first they mock you...then you kick their fucking asses..."
Kaiser Sousa
DEATH TO THE MONEYCHANGERS.
What?! We're the most optimistic sons of bitches there are. I pesonally can't wait for the markets to crash. I'm excited as hell!
you must be trying to produce another fire sale in Gold and Silver with that unacceptable truth telling...
"If they and other CB's are the main holders of the bonds then wouldn't raising rates pretty much destroy their own books?"
Depends. If they step away from equity intervention, flows will largely go to bonds. I think the 30 year is telling that story already. These flows will largely mask a tick up in the fed funds rate. They could jack it up to 1% and concurrently blow up equities, and subsequently drop it back down to ZIRP and turbo up the QE (this time buying direct equity stakes). Yellen saves the world, first Time "man" of the year that is technically a woman.
at Save -A ---why would it--they will just hold to maturity----they don't have to sell cause they didn't buy with margin accounts like you----just saying
at some point it would all have to give way...if they raise rates and since they own nearly all the bonds as of the last several years then again...as I was implying...the whole scheme will implode. The dollar dies. The petro-dollar dies as all these other forces work against it and their worthless bonds. There is no way out. It's only just a matter of time. How much time it will take, I don't think any of us can predict. It's obvious they've been able to kick this can down the road for the last several years and they still might be able to keep it up a while longer....who knows?
And you're implication about me buying anything in paper and/or on margin is false, dude. I'm a stacker. I hold phyzz and I have nearly nothing in the bankster system what-so-ever. Nearlyl debt free too. Just a stacker. And I own a lot of pop-corn too...for watching the show.
But in a way to your point...which in a way has been my point for a long time on here as well. Since there is no real market. And since the Fed can just print all they want out of thin air. Why would any of it really matter? Why should anyone pay taxes???? What's the fucking point if they can just print Trillions with a few keystrokes????
And that then goes back to my implication...it's all a fucking farce. No matter what they do or however long they try to extend and pretend and fuck with the laws of economic nature they will eventually lose big time.
So back to my point...if they raise rates they're totally fucked. If they scam the system in any way they still destroy their book and what little is left of the credibility of the dollar. And there's no stopping the death of the dollar no matter what they do.
But raising rates seems like it will just accelerate the process.
"You must be retarded. Come on, you watch CNBC!"
Yeah that's the ticket.
ZEROHEDGE is the blame for all the world's ills.
Interesting inadvertent admission by these guys that they all read ZH.
Yep, this is a necessary step before we can see what comes next.
I'm still waiting for the Time Magazine cover depicting a cartoon of a racially diverse group of people celebrating as they heave a large rusty brick of gold into space under a banner, "Mankind matures".
Only then will gold start moving back up
"Interesting inadvertent admission by these guys that they all read ZH."
And are mocked mercilessly.
They read it with much trepidation though... Truth in a sea of lies has a way of pulling even the most cock-sure in like a tractor beam.
Is it the articles or the comments that pulls them in?
Calling propaganda out as bullshit is the juice.
Imagine Cramer commenting here incognito. MDB maybe? Naw he's actually funny sometimes. Somebody douchey like las vegas dave.
vegas dave only comments when his Zio world view is threatened,
It's the comments. Mosly educated, rash, sometimes profane, but with a zeal for truth. Dangerous to the plebs.
You forgot hilarious. There are some funny motherfuckers on this site.
Boris!
If Jain younger single lady I want make beautiful babies with you. Sexy Russo!
so the Fed decides rates now based on SPX level? and he's ok with that? what a fucktard.
I defend the world's pessimism of the US.
The US is inside your country.
Spit them out.
It was a good country before it went empire.
It was always an empire. If not always (which I would argue), then at least since 1812.
Nope.
Since 1913.
Before that, just a bunch of wannabe Brits.
After that, a bunch of wannabe Romans.
Read it and weep.
ZHTV!
Do I see a hostile takeover of CNBS in the works?