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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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Who would buy that dog network?
1, Buy it for pennies on the dollar.
2. To see Tyler fuck with Cramer!
If we got some lions, would that be lion abuse to let them eat Cramer? Would the world hate Tyler for it?
The lion would need to circle him 5 times then wait a few minutes. He'll taste better then!
They will love Tyler. It will be a PPV 2 hour segment exclusively airing at WB7's new watering hole/ gallery franchises, every fri and sat night starting at 10 pm est. Each night will feature 2 new guests with commentary.
Sincerely yours; LJ...
http://www.labor.ny.gov/stats/mls.shtm
Important Notice
On March 1, 2013, President Obama ordered into effect the across-the-board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all "measuring green jobs" products. The final release of Mass Layoffs Statistics data will be the publication of the May 2013 data.
this dipshit reminded me of all the ass-clowns who ripped peter schiff when he was yelling from the highest mountains about subprime being an issue in housing.
filling a debt blow-up with more debt im sure should create a "bubble in optimism" or "hopium" as CNBC would tag it.
and theses fucking morons still don't get why theres no growth anywhere. debt strangles. period.
as my father told me growing up "you can only do the wrong thing for so-long before something reallly bad happens". this QE, debt over-load remind me of that euphoric feeling i had while doing something i knew was wrong. when this party finally does end, it will be like the belt coming out & me running for the attic cuz my parents figured some shit out.
Schiff has mentioned since then that as soon as his predictions began coming true his interview requests from mainstream TV dropped to absolutey nothing.
They only wanted him on for as long as they could paint him as a loon. The idea of finding out what the guy who was right all along thought now was of no interest to them.
I often think that this last detail says something horrifying about our culture and our future.
It's not us. It's them. THEY can't handle the truth - (they're getitng too effn' rich with the status quo).
I probably posted 20/25 links to ZH in the NYT comments sections, krugman and elsewhere, over the past 9 months.
Not only does ZH not regurgitate the MSM narratives of sunshine, puppy dogs, and American exceptionalism, people are becoming interested in a libertarian alternative {a draw fucked up most of all by right wing Randian zealots}
And free speech is messy, but it's good for the mind.
Good for you. Well done.
Maybe you and LTER could rent a loft and co-author a novella which describes- in detail- your self-appointed disgust with objectivism.
IMHO, an objectivist is simply an honest libertarian.
Short selling pessimism on the NY Fart Exchange
Short or long ones ?.
Of course, the actual, or real bubble in pessimism is always simply read off the price charts. When the Stawk Market has been cut down to 33% of it's present level, then you can say there's substantial pessimism. Pessimism always exists; but right now it exists amongst a numerically small percentage of the population; most of whom are already out and done with the stawk market.
This GFI?
Stock price: GFIG (OTCMKTS) $5.87 -0.02 (-0.34%)
There is a delicious irony here.
Wait, I love to dig sometimes:
His prior job from his LinkedIn profile:
Alcott Capital Management http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_landing.aspx?Sea...I find it easy to remember this simple fact; if a financial advisor actually knew what he was talking about; he'd be busy doing it; not calling you on the phone trying to get you to do it. People who actually know how to play markets like a violiin; don't have time to advise you about anything; and you've probably never heard of them.
I think "GFI" is "Generally Fucking Insane", and he proved his "points".
He must have only half a brain cell if he spouts that load of rubbish having read ZH!
Reading and understanding are two very different things ;-)
There's also a bubble in stupidity, John. Come on, you watch the Simpsons.
It's not pessimism, it's math.
"Imagine there's no heaven...its not hard to do..."
Mr Spallansani - the bubble is in your head. Why are you standing in a room that is a morgue? Less than 10% of the stock trading volume is traded on that floor. Is that a bubble in pessimism?
Was it that pessism bubble that gave the Fed the idea ot print out of feckin thin air, $ 6 Trillion? And esentially give it to the Banks..?
You mean that pessimism bubble?
You need a punch n the face.
This is it Tyler... this is the moment you've been waiting for.....
How long until the YouTube Google dollars start rolling in?
We expect a bad rap video, some Vines, a Facebook page, you live streaming as you type articles... We expect you on major new networks as a talking head (obviously providing comment on things that have no relation to you, your demographic, or your skills)... They say it takes 10 years hard work to become an overnight success... well done...
**FYI - if anybody takes this post seriously, you have less common sense than the guy in the video
The masses are getting their eyes, now take it even further and remove these fuckers from office .
America can only be saved from the outside, not from the inside of Pennsylvania avenue.
...
ZH : Diogenes the Cynic
Pax Americana : Alexander of Macedonia on his march
Only problem : Where is Aristotle who taught Alexander his logic ?;
Cos Diogenes is good at destructive and analytic logic but has no positive logic apart from "free markets" and "invisible hand" and gold is not a relic".
Self regulating Markets ? Dépassé by the demise of Capitalism and peak RM.
We have to find a new paradigm. Maybe this guy has an out of box inkling : Paul Mason.
http://www.theguardian.com/membership/video/2015/jul/23/paul-mason-is-ca...
Out of the box thinker in tipping times.
Reading some books on thinking and they seem to indicate that humans are wired to be optimistic. I think that it follows the 80/20 rule where 20% are wired to be cynics. I count myself to be in this category.
Live long enough and it gets really hard not to be cynical. A good laugh is still a pleasure however.
The best engineers are pessimists IMO. We see all the avenues of failure and design against these scenarios. It takes all kinds. I certainly don't want to drive my car over a bridge where each was designed by a gaggle of super optimistic dunces.
There's a little nazi in Spallanzani.
his grampa was digging marble from a quarry, now he's wearing a nice suit and stealing from your grampa ... amazing juxtaposition
let's just hope ZH doesn't go the VICE News route and completely sell out.
We've got enough neocon agitprop, thanks. It's inescapable. To read ZH, Reason, ConsortiumNews, etc is to come up for air.
... But more and more that first sweet swallow of air is sullied as Newsoutlet shits neocon turds in your mouth.
Darn that First Amendment. Life would be so much better if we only get to hear your viewpoint.
Remember saying this? Like a few minutes ago?
"And free speech is messy, but it's good for the mind."
remind me where I said anyone should not be allowed to voice their opinion.
Go ahead. I'll wait. \
Because it wasn't in the comment you just replied to.
I know you're a bit dim so to reiterate:
a] I expressed the hope that ZH not drift into expressing narratives that are already prevalent in the MSM. IMO, VICE news went from iconoclastic to largely towing the MSM/neocon line in many respects. They still have some interesting stories, for sure, but it seems there was a significant editorial change, and VICE is more 'establishment' than it used to be.
b] I referred to newsoutlet's practice of copy-pasting anti-Putin stuff all over the board {pretty much exclusively} as if said anti-Putin stuff was not DOMINANT AND INESCAPABLE.
There's really no need to go into a brewery pub and extol the virtues of Budweiser over and over and over - they've heard of it.
So - I know you just hate when mere goys talk about Israeli war crimes or warmongering or Jewish supremacism/hyperethnocentrism/racism and the like,
http://www.thetruthseeker.co.uk/wordpress/wp-content/uploads/2011/08/jew...
but even so - you ought to attack people on the merits, not based on your inability to actually understand what was written.
xoxo
TDG
"I don't do stupid"
Seldom do posters hang themselves after tying the noose themselves.
You are exceptional.
Care to explicate your allegation? [If you can]?
You make excellent points and retorts, but why must you always follow them up with insults and condescension? Yeah, this is Fight Club but, geez, take it easy. Not everyone who disagrees with you or didn't exaclty understand your comment deserves your wrath.
You come off like someone who got his ass kicked a lot as a kid. Go get laid or something.
You raise an interesting point.
Personally, as DISABLED with Drain Bamage...Cerebral Palsy, I did get beat down a lot as a kid.
Perhaps that is the reason for my disposition towards explosives, poisons, and weapons of Mass Destruction.
Yeah. Good insight. Maybe he may have some of the same predispositions.
I wonder how many years it would take to match the Z/H pessimism bubble to the Wall Street bubble volume : volume in equal parts?
And can you imagine the amount of people that would have to join the website to do it?
Z/H would have to be about 10000000000000 times bigger than FACEBOOK just to get close.
I watched the clip - wish I had that time back...
CNBC and all the rest commenting asheybwalk through thevworst neighborhood in Chicago....I believe I am invincible ..keep szying that .. I believe I am invincible. So did most of the passengers on the Titanic just before it sank. They know ZH is a new force ..and its scaring crap out of them..as they lose control of the narrative. Outlets like ZH ..are the new Broadsides publications..the people who read it..matter.
Mr. Fart-tissimo just earned himself a honorable position in the Chinese politburo.
When propaganda becomes so obvious, that even a retarded can notice, something big is coming.
if it's just bubble in pessimism then let Yellen start those rate hikes right away 1pp per meeting.
"earnings got punked"
"we punk yall day"
-central planners
lol I think he said revenues got punked...and this guy is an "expert" wtf?
Yes I do read Zero Hedge and I do not apologize.
Obama is now negotiating a Free Trade deal in pessimism....
ZHedgers are the most optimistic crowd on the planet because the truth has set them free.
A bit deluded sometimes, particularly about Hillary, but nobody's perfect.
We all hate Hillary and see her as a lying, cheating, politician. Is the "delusion" that she is going to be installed in office? That she won't?
There is a bubble in something that is for sure.
On a sidenote look at IBM, I am not in it but I was just noting the price acion thinking to myself 'Damn, look at that. Everyone who bought in the last 3+ years is now underwater and trapped like rats. That sucks."
Sell now or hold if while it goes 50% lower still?
the "China Conundrum"
Should I wait for the gov't (FED central) to help me with QE (I've lost faith) or just take a chance (help myself) and (sell) try to recover something (in an increasingly downward spiral)??
I think ZeroHedgers are just about balancing out all of the excuse-making and sunshine-pumping on CNBC.
And we see the inevitable reality that every 7-9 years we're going to go from BOOM to BUST which means us negativists will be right, eventually..
Peter Schiff was banging on the housing crises in the early 2000's. It took (shock) 7-8 years and he was proven right.
Anyway, back to work on my capitalist pig website;
http://neweggalternative.com/
"I think ZeroHedgers are just about balancing out all of the excuse-making and sunshine-pumping on CNBC."
exactly - and well put.
fuck your website
Yes. Patience is required.
With collapse comes opportunity. That's what I'm interested in.
Let's see, there's more than enough pessimism in the commodity space ranging from energy (coal, gas, oil, etc.) through base metals to PMs (if you consider these to be commodities, debatable) to you name it. I've seen countless articles on gold not only falling under $1k an ounce but actually returning to $350 per ounce. I guess is the paper world this would not only be possible but probable based on the fact that nobody trusts the parties selling the paper has the gold or will even have access to the gold.
As for global shipping rates and ship building, again nothing but pessimism even with the BDI rebounding recently to the 1k plus range (but well off its previous highs five years ago). Still far, far too much capacity available that is going to take years if not decades to rebalance. Just another nail in Greece's coffin.
Fear not, pessimism abounds in the EMs as while nobody noticed, South America is showing reals signs of stress as Brazil is fading fast, Venezula is toast, Argentina is back to its old tricks of not paying its debt, and the outlook for commodity based economies such as Chile are poor. Of course this extends to a wide range of EMs as Russia, China, and others are sorting through a shit storm of issues. To rub salt into an open wound, a rising USD is going to create more pain for those countries that secured "cheap" loans denominated in USDs which now have to be repaid with higher priced USDs. Payback is certainly a bitch.
Oh yes, let us not forget about the US labor market. Basically no wage growth but why should this be a surprise as over the last 8+ years, the US has replaced quality jobs based in manufacturing, production, etc. with service centrix jobs in the restaurant and healthcare industry. Is it any wonder why wage rates are not increasing as when you replace a job that actually had solid pay, decent benefits, some level of security, and advancement potential with jobs that can vanish as fast as a fart in the wind, its not too hard to figure out why wages aren't growing? When will these fucktards actually realize its the quality of the job being created and not the quantity.
I could go on and on but what this SFB can't figure out is what is "fact" and what is "fiction" (or in his mind, pessimism). Does this person not understand the fact that the world's CBs have flooded the global market with $15 to $20 trillion of new currency over the past decade? Does this person not understand How to Read a Financial Report (self pomotion alert) and more importantly, how the balance sheet, income statement, and most importantly the cash flow statement all must be understood? Does he not understand that one of the key concepts of debt is that it actually has to be repaid? Does he not understand financial engineering of financial results through stock buybacks, tax rate manipulation, etc.?
And most importantly does he not understand the role CBs have played in turning the deflationary monster loose? Commodities are screaming deflation right now which will have enormous implications for the world's CBs as this space is now the canary in the coal mind (not Greece, Puerto Rico, or other over indebted nations) and is at the base of the global economic food chain. If this continues to collapse, it will work its way through the entire system all the way to the consumer/retail component. The irony with the CBs is almost comical at this point as I'm not sure they even understand it as they are in too deep now. All the effort expended over the past 8 years to reflate the world's economies has only created even more deflationary pressure and increased the global debt load to 3x the global GDP ($70 trillion GDP and $200 trillion global debt).
What this person needs really needs to understand and separate is fact from fiction. While my post/rant may be viewed as being pessimistic, I would like to think is really is nothing more than being realistic, centered on facts and a clear understanding of financial fundamentals, statements, and logic.
Everywhere asset prices are attempting to deflate to sustainable levels (think commodities, China's stock markets, credit markets, etc.) but the world's CBs refuse to throw in the towel and admit defeat as they print more and more and buy more and more (think China's government intervention, the SNB buying equities, the ECB's recent QE, etc., etc., etc.). So debt levels grow ever higher in the hopes that the miracle of inflation, without social disorter, will come to the rescue.
The ultimate irony or insult in this entire process is that the CBs are losing control of the commodity space first as the laws of supply and demand are taking hold and rebalancing this space, or in other words, the first market mover. This is the problem for the Fed as generally they would like to see PMs decrease in value, but only as a result of "calm and order" as oppossed to deflationary forces. Now they've unleased the deflationary monster and they're frightened as hell about what it could do to the entire economic food chain.
Don't be such a Debbie Downer, everything is copacetic. You are thinking that the CB's are incompetent, I think they are crazy like a fox.
Events will unfold according to their (or their masters') script. Creative destruction, disaster capitalism, you gotta break some eggs
to make an omelet. Remember, he who dies with all the toys wins. No Country for Gentilemen.
If it hadn't been for Peter Schiff, the housing market wouldn't have crashed. If it hadn't been for Tyler Durden, the derivatives bomb wouldn't have taken down the global financial system. If it hadn't been for Chicken Little, the sky wouldn't have fallen.
We messengers always get a bum rap.
Manifestations of anal sensations.
I have followed this site for over 4 years and bought quite a lot of pms ( all lost now) I watched mdb get ripped for saying silver will go to 10 dollars, while being ridiculed, he was pretty much spot on, this should not be happening but is. They have the clout to make 100-1 leveraged bets that they know will win and skin us. This will go on for a long time x x
I have spoken several times here:
Economics is not science, it's guesswork.
I should have Nobel Prize for astrology as there is for economists!
Astrologers might be more accurate since there is no way to change the stars.
Kkkkkkkkkkkkkkkkkkkkkkkk
Other times I said that I was crucified, many "-" in the comment.
Fuck, I continue with the same opinion.
hehe.
FUCK YOU, TETRAZINNI!!!!!!!!!!! BASTARD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I addition to making little sense, he says pessimism, I say realism.
Hey Tylers! You're doing a wonderful job, and mentioned on CNBS to boot.
At least you're not editorially blacklisted like GATA for simply getting the truth out.
http://jessescrossroadscafe.blogspot.ca/
Fairly simple and easy to understand what's going on in the commodity markets.
Another good sight.
This dude is a douche no doubt...BUT... ZH has been wrong (yeah I know, not wrong.....early lol) about the coming "crash" or lack there of. The Tylers post story after story how we're minutes from doom, and yet the ponzi grows bigger by the second. The Greeks were gonna Grexit...nope not yet. There was gonna be "inflation" and gold was going to $5000... nope not yet. Bond bubble gonna pop and dollar would tank... nope its going in the opposite direction! I guess if you throw enough spaghetti against the wall eventually it'll stick. Or just stop posting meaningful finanical stories and start posting politics, heresay and opinion pieces. and my favorite.. the "10 Worst Fill In The Blank" stories.
The 10 worst fill in the blank political hearsay and opinion stories that have had more impact on economics than anything Adam Smith (and all other econ phDs) have ever come up with.
http://www.zerohedge.com/news/2013-10-23/greenspan-admits-he-knew-there-...
I was never under the impression that ZH was attempting to be strictly predictive with it's articles. I see it as one of the few places that will cover true contrarian views. If they are not talking about it you will see it here, this has obvious value.
That doesn't mean you go and empty your bank account and load up on gold on a Wednesday because the Hedge ran an article the contrarian view point that the gold price is being manipulated on a Tuesday. Seems to me there are often articles posted here knowing full well they will be shredded by commentary and are not meant to be taken seriously. People oversimplify things.
Not only have the Tylers never predicted an imminent collapse, they've pointed out the impossiblity of timing it (again and again and again). Just because a story is posted laying out the "can-kick fraud of the day" doesn't mean it's predicting the end of the world.
Instead, people with reading comprehension issues like to believe they've been told so in order to create a straw-man to attack a Tyler with.
If you can't beat 'em, join 'em.
His hubris is perfect proof that there IS a bubble -- in all that he invests in! Would you expect any OTHER attitude from a bubble believer? Isn't that what bubbles are made of?
We'll get the LAST laugh -- again! And then, we must -- MUST -- remind him!
# of people who take the articles, comments and artwork on Zerohedge seriously
# of people who watch CNBC, much less take anything presented on CNBC seriously
<< I read ZH for the articles
<< I read ZH for the comments
I see what you did there. Maybe the same thing I was trying to do regarding negative numbers?
Well done sir. Well done!
Impossible choice Fred. I read both.
I downvoted myself. Is that a first on ZH?
I come here for the porn
This explains why I ever get down votes. ;-)
That was so painful to watch. A bunch of losers trying to talk over each other.
oh boy the MSM thinks they see blood in the water and ZeroHedge has somehow been wrong these past 5 years........get ready to fight Tyler, this is the TOP !!!!!
There is nothing more disturbing than a wild-eyed Wall Street jackal exclaiming that "Pension money has to go somewhere" in the context of a trillion worth of QE. I would agree that this rally is rather hated though.
At least he didn't pull the race card.
These "experts" are starting to sound as delusional, nonsensical, and defensive as they did when talking to Schiff in the months leading up to the 2008 crash. The more bad data that comes out, the more they replace substance and statistics in their arguments with laughter.
1. Go on CNBC. Spew inane drivel which no one hears because no one is watching
2. Mention ZH and cackle like Hillary watching Gadaffi take a sword up the ass
3. Gloat over the fact that your spew is finally being heard by tens of thousands of (mostly) smart people thanks to ZH
4. Mitigate your humiliation by repeating "Any publicity is good publicity"
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."
Well, it sure the hell ain't new, good-paying, organically-grown, middle class jobs, sir.
m
I just turned 64 years this July, and had over over 3 million dollars in my 401(k) six months ago.
Over the last six months I've bought all kinds of things (annuities, structured settlements, real estate, etc.)
He says where's all the money going to go?
Well... my remaining 401(k) balance is now $79,000. And all 100% of it is sitting in a trust fund paying a safe 3.1% for the next year until I retire one year from now. So basically I am zero invested in the stock market - period.
This guy's telling you where the money's gonna go? I don't know about that dude, but as far as I'm concerned it done went!
What's the tax bill on that, Art?
"annuities, structured settlements, real estate, etc."
Which of these are hard assets? RE or etc?
Gonna drive my balance sheet right into the ditch.
can't remember the last time I laughed this hard reading a ZH article!
thanks Tylers
Who has seen "The Toy" with Gleason and Pryor? Recall the scene where Morehouse (Beatty) drops his pants? That's Spallanzani et al .. (et al meaning the entire MSM) ..
These guys will lie till the cows come home and sell [out] their own family (especially their mothers) to keep their jobs ..
I don't know,listening to all those shisters makes me nervous.I do like being self sufficient,living simple.I stopped being a consumer no matter how much money I make trading.I refuse to buy stocks,bonds etf's,mutual funds and all kinds of gadgets and "stuff".The only thing I hate worse are the crooked Washington politicians that take people to wars with no purpose and then,when they get back home,they treat injured veterans like shite.John McCain and Victoria Nuland style neo-con philosophy.Whenever I decide to go to the local coin shop or to a Mint's website to buy,I always feel good saving in precious metals.Bottom line is it's a new ballgame when you don't owe anybody any fiat.Believe me,being debt free is the way to go,it feels fantastic.And by the way,I'm not pessimistic,it's just that every so often,all these con artists running banks always find a way to fuck the average joe.They always seem to have another scam going to fleece everybody.
I'm optimistic that when things do shit the fan that all the asshats and shills on CNBC will all be blowing people on the corner for a 10 spot.
What this clown says is unbelievable, and unpossible, a bond bubble but not a stock bubble. How does that work? Can we please get some more articulate loads on the TV.
May I please have permission to quote your first sentence when speaking with my associates? You really should think about obtaining patented trademark rights on it.
No problem, I've always been a glass half full kind of guy.
I always thought that last half was no good, 'cause by the time the glass is half full it is mostly backwash anyway.
+100 yep. beautiful thing
+1 for "shit the fan"
"Hit the fan" meets "shit the bed".
INDICTMENT
Americans are criminals because Americans violate the Constitution of the United States of America.
The U.S. President Obama, the entire U.S. Congress, the CIA, the FBI, the U.S. Military, and the entire Police Force of these United States SWORE to protect, serve and uphold the U.S. Constitution.
The U.S. Constitution forbids usage of debt as money (referred to as 'notes') and stipulates that only gold and silver can be used as money.
Yet,
Americans commit or support and condone the murder and torture of human beings throughout planet earth in the name of democracy and freedom, all for the sake of acquiring Constitutionally fraudulent and illegal Federal Reserve Notes a.k.a (counterfeit) U.S. Dollars.
Since the United States is a democracy and Americans only elect Democrats and Republicans who perpetuate this unlawfulness,
Americans are indicted criminals according to the United States Constitution.
Spread the word.
The biggest bubble is one of GLOBAL IGNORANCE and APATHY of the masses!
You know you are relevant when the guys wearing orange makeup on CNBC start laughing at you. Seriously.
Knowing all markets are manipulated doesn't make me a pessimist. Feeling powerless to do anything about it does.
"because for whatever reason Zero Hedge traffic was indeed an all time high in July"
Not according to alexia: http://www.alexa.com/siteinfo/zerohedge.com
Or are the alexia numbers manipulated too by the FED?
I note the site, I never heard of, says their numbers are estimated.
Here you go.
As for Alexa, it's not the Fed, just Jeff Bezos (who owns it).
Ironically, a 2 minutes google search would reveal how they manipulate their metrics, but hey: best to just scream "another conspiracy theory" instead of doing actual work, right?
1.6 million a day.. that's 1.6 million more than most webistes lol
ArtofLife = OWNED
And if anybody knows a thing or two about manipulating data, moreso than the Fed, it's Bezos.
;-)
Nice one mate, well played.
the trend is your friend
ZH, I will side with you. You are right for the wrong reason and John Spallanzani is absoluletely wrong on all reasons.
I remember how they laughed at Zero Hedge and Ron Paul across every network right before the shit hit the fan in 2008. Being called out by the corporate media is probably a timing indicator.
Not to be overly pessimistic but facing collapse of economy, society, government and law and order it would be very instructive to realize what those global psychotic oligarchs including Silicon Valley retards have in store for the rest of us when they talk about tightening the belt and austerity as a measure of fiscal prudence while they indulge themselves in unfettered gluttony.
It is hard to shed the veil of propaganda we think of as our own fundamental knowledge and belief to realize that Anarcho-Kapitalism (not to confuse with anarcho-syndicalism) definitely works so far in RAT COMMUNITIES only.
See the video describing development of competition and leadership formation processes in conditions of austerity. Fascinating study and instructive conclusions, especially for those who need to loose weight. Applicable to humans as well. Enjoy.
http://www.youtube.com/watch?v=SwnUzo2252s
Oh. This fatest rat was called buffet or dimon or something like that.
Pessimism is when the E-Trade Baby jumps out of his crib to commit suicide.
@6:46
UNLESS YOU'RE EXPECTING DEFLATION
My dad told me recently that he was only able to make sense of the discordance he was experiencing between what he was being told by the noiZ-media, and what he was experiencing day to day, because of my insistence that he peruse Zerohedge a few times a day.
He doesn't understand much of the investing stuff, some of which I translate, but he's beginning to have a complete picture of what is really going on. He was incredulous last year when it was revealed by ZH that Kerry had made some kind of deal with Zion on oil prices. Incredulous became shock as it happened.
As for the claim of "pessimism," it is not pessimism to call the increasing list to port evidence of sinking. But the attack on ZH, and others, is just more evidence of Zion's discontent with the Internet undermining their machinations.
Liberty is a demand. Tyranny is submission..
If they don't care for Zerohedge, they are are really going to dislike my guillotine.
This fucking clown can star in the remake of Being There https://www.youtube.com/watch?v=FcPQ9gww_qc
ZH is correct and factual most of the time, its sentiments of a market collapse are just a reflection of the reality. The current markets are a sham/patently flawed, this is something the MSM will never admit. ZH and its overall sentiment that the markets are unstable and will collapse is an absolute eventuality. It is something that nobody can exactly predict or know the time and conditions but market failure/collapse is a certainty. I may grow very old waiting and watching for the absolute eventuality I mentioned, in the mean time I going to buy some more silver and a little gold.
Mr. Spallanzani has no real arguments to say it is all going to be right in the end. Indeed too much money printing and a continuous activity to keep up things that should otherwise go bust.
Too much "debt", intended as printing money, is taking place everywhere. Printing money is not working as well as some people might think. Europe began doing that not so long ago (obviously too late, but that typical EU) and it ain't working.
What I see from my little corner is that there is still the idea that economy can be driven with monetaristic measures. That, in my view, does not control anything but a little part of the overall picture, leaving the rest unchanged, and sometimes causing it to go in the wrong direction.
While governments and the banking system are guilty for this short sighted approach, I think it is fair saying that the debt logic has been also accepted by a large amount of so-called consumers. Nobody forces them to get in an unsustainable amount of debt for a larger house, a better car, or relentless shopping. And, there is no excuse for making choices in life without some basic understanding about what one is doing, and for getting in troubles because of those choices.
People forgot the old peasant wiseness, geared to the long term and to reducing risks as much as possible. It is now fashionable to "live on the edge" of one's means, just like it was not so long ago, before the latest bubble exploded. Bank encourage it, understandibly, and governement don't discourage it, also understandibly. Bank make business and govs attain a social stability based on "too much to lose" when people live above their possibilities thanks to easy money.
But one's faith is still in one's hands, for the most part at least. Blaming the creation of "bubbles" and other forms of distortions only on the provider side is a distortion as well. Let us not forget, bubbles exist because there is a demand for it. And that demand comes from the very same people (not banks, not govs) that loudly complaines when the bubble burst.
I am not particularly concerned with the presence of bubbles like QE and others. The net effect of that is only devaluating currencies. As long as that system is used by all countries more or less to the same extent, currencies keep devaluating remaining in balance versus each other, leading to ensuring that economic power remains relatively unchanged across the board.
There is however another factor that is rarely mentioned - market distortions based on easy money and tacit currency devaluations cause fragile, old systems to stay afloat and keep new ones to get on their feet. It is a form of economic conservativism which, at the end of the day, creates an "old boys club" of rich nations, denying the upcoming economies and their people the opportunity to raise.
But again, this is only possible because the pusher finds customers to be pushed. And the customers have alwys the opportunity to say no.
The only question is - why don't they?
the only question is - how do you shake that cultural trance?
I think the real question is "should we shake that cultural trance"...
Placing my Geopolitical hat on. Here renders your problem. Thanks for Zero Hedge plug on the propaganda news.
http://www.clubof.info/2015/07/we-need-more-traitors.html?m=1
Zerohedge isn't pessimist. Zerohedge is just realist that simply knows the facts.
I call myself a cynical realist. It's what I love about Zerohedge
The other Proggie blogs I read are smoking Bernie's Hopium
One more tidbit. Food for thought.
http://www.clubof.info/2015/07/evil-symbol-vs-evil-symbol.html?m=1
Congrats to Zero Hedge. Even a sideways "compliment" from these clowns and shills is an admission that the Tylers are on to something.
I'll have an ad hominem burger to go please
First they ignore you, then they laugh at you, then they fight you, then you win.
Mahatma Gandhi
Thank god, that means we are near the end!
i use to buy his rice at the grocery store
Uncle Ben?
Revenue? We don't need no stinkin' revenue! We just need more creative accounting.
I need some new rosy sunglasses, no?
Bullshit. There are still too many dreams of lollipops and unicorns, asshole. Give us a 50% crash in stawks and global admonishment of central banks, then give us a call...
The bubble you speak of is in paper gold. I can't wait until it pops and your head explodes.
This dipshit hasn't listened to the Bank of International Settlements.
Granted, my Vanguard account is doing well.
If you have a bubble in something, any investment area. What you get is financial flows into other areas from the lucrative area until such a time EVERYTHING SURROUNDING THE FIRST BUBBLE IS NOW A BUBBLE ALSO.
Now pop one bubble, go on dare you to let it pop, bond market be good and watch the rest implode or pop stocks if you want it all goes if any one area folds.
When they stop calling us "conspiracy theorist" we can talk...
GTFO
When they stop calling us "conspiracy theorist" we can talk...
GTFO
Have to say ... Zerohedge....is an inspired name for the site.
When I first came by it some years ago, it used to be just a couple of kick arse articles every day or two. Not the same old MSM vomit that we all begun to suspect was...vomit.
"John, if we took banks and home builders out of earnings problems in 2007, we actually had really good earnings for the overall market and great growth." Asshole's response: "You're making my point, there's a bubble in pessimism."
The only point to be made by this asshole resides on the tip of his head.
There has been no market for the past 6 years. Just pure PPT and QE. And the unbelievable extent TPTB decided to blow their own bubble to biblical proportions.
We knew they were reckless and stupid, bu who could gamble on just how extreme their recklessness would be.
Investments decisions? On what basis apart from second guessing the Fed's degree of insanity could one make 'investment' decisions? Market/Company fundamentals lol?
For his sake, I hope he was drunk. For the sake of humanity too - I sincerely hope that no human could be this dumb in a sober state,
Boy oh Boy, He has no Idea the the kind of SHTF when the pessimistic bubble pops!
I am an asshole I will admit but I am always polite to ladies. Smart move. That is not pessimistic but rather calculating. ZHers are discerners. How much bullshit do we each have to deflect each day? Think about that for a second. It is a constant barrage of bullshit that we hear everyday so we automatically discount just about everything projected at us. That is why reading a book once in a while is a good idea and especially so if it is this one... http://www.shopnumismaster.com/2015-std-cat-world-coins-1901-2000
Even you do not want to collect anything the history of coinage is just amazing. Every ZHer should procure that book and take a look. You will meet some interesting people if you persue the matter into actually trying to find the coins you search for. It is OCD overdrive.:-)
My Bad. Sorry. LMFAO
I', a Christian; people should take seriously what God meant by what He has said, for the ancient book is like an old anvil, which has broken many hammers and will continue to do so till all is fulfilled.
https://www.youtube.com/watch?v=NMlv21zGARM
God has a youtube channel?
Hello Tyler ! I am ashamed to see that the stupid french press is also taunting zerohedge.
http://www.lesechos.fr/journal20150731/lec2_finance_et_marches/021237914...
For them you are a group of pessimistic cranks. LMFAO
First they ignore you. Then they scorn you. Then they fight you. Then you win.
Mahatma Gandhi
Mr. Spallanzani is the consummate white N&I%G$G#E@R---though obviously not the typical Ivy League pattern. This guy epitomizes 'BULL-TARD'. Like I have often said, BULL-TARDS are the dumbest 'investors' on the block. No brain required. What a dunce..