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The World Map Of Hubris & Humiliation
The journey from hubris to humiliation in EM has taken roughly 5 years. As BofAML notes, despite muted asset returns, 2015 has seen the emergence of two big trends: the risk of a bubble in US health care & technology; and the crash in EM/Resources/Commodities. The two trends are best exemplified by the "Map of Hubris & Humiliation" which shows among other things that the market cap of MSCI Russia is currently equivalent to Intel’s, while the market cap of Netflix equals that of MSCI Chile.
Back in late 2010, when Sepp Blatter announced that Russia & Qatar would follow Brazil as hosts of the FIFA World Cup, both China & India were on course for >10% GDP growth, EM spreads were significantly lower, and the market cap of EM ($3.7 trillion on December 1st 2010) was twice the market cap of US banks, and exceeded the combined market cap of US tech & health care.
Today, the market cap of EM equities is the same, while the combined market cap of US tech, health care and banks is over $10 trillion.
Source: BofAML
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If the Fed will keep printing, we can set even more records.
Prepare for a future life in the Stone Age.
Now, lets have a chart showing the guarantees made by the United States on the derivative obligations of the big U.S banks. The FDIC has insured the 23 trillion dollars of derivatives owned by Bank of America. When the money markets were imploding in 2008, the United States lent AIG about 180 billion dollars to cover its credit default swap derivative obligations. Chump change compared to the over 2 quadrillion dollars in derivative debt generated by JPMorganChase and other financial counterfeiters. Former Goldman Sachs boss Henry Paulson knew the score, so when he became Secretary of the Treasury, he cashed out his 600 million dollars in stock, paying no tax since Bush changed the law, allowing a new Treasury Secretary to avoid paying any taxes on security sales when he or she took office, saving Paulson some $100 million dollars in taxes. The Bush crime family knows that the U.S. dollar can be crushed if there is another collapse in the derivative market, so the Bush family bought hard assets, such as a huge tract of land in Paraguay over the largest water aquifer in the world. In Greece, the globalists are looting all the land and business assets, buying them at fire sale prices. For the peasants in America, inflation should wreck the pensions of those still getting defined pensions. Skyrocketing real estate taxes should finish the job, having a home where the cost of taxes and energy wipe out your savings. As the third world border crossers who moved in live on the dole courtesy of an open border policy that rewards criminals, just as Trump is saying.
my roomate's sister-in-law makes $72 every hour on the laptop . She has been unemployed for nine months but last month her pay was $12384 just working on the laptop for a few hours. find out here... www.earnmore9.com
And let me say this about your roomate's sister, while she's not particularly attractive, she does some real good work on every laptop she encounters.
Very interesting map Tylers, thank you. All but one of those country vs. company market caps are pretty amazing. *
Stock prices are very high; this will not end well. Things look deflationary to me, at least for a while.
* On the other hand, I would rather own Intel than Russia.
You would rather own INTEL than Russia?
The US government does not agree with you.
Nor I do agree with much of the US government.
INTC and MU are currently working on very fast, huge capacity memory chips. Very advanced. Intel adds value. Until recently, Russian factories, on the whole subtracted value, that is the value of the inputs was worth more than the value of the products produced...
Nor would I be an effective owner in/of Russia. I am not ruthless enough.
EDIT:
A link for you re INTC and MU and their new chips:
http://newsroom.intel.com/docs/DOC-6713
Yeah those chips would be great for storing all the 4k videos of skateboard accidents and cats eating icecream - now that's what I call value!
Intel has been very good to me. I bought shares in the company almost 30 years ago. It's made me a lot of money, much of the profits now taken, but I still own a small amount. INTC also now pays a dividend, income is hard to find now.
My computers run on Intel chips...
Intel has done much more for me than Russia has.
What has Russia done for you?
* * *
B_b
High speed high capacity chips have other uses that are of very high value.
It is entirely behavrioral, the traditional colonial disposition that constanly plays all our corrupt goverment bodies to be bigger than gods in front of all
generative advancements instead of being what its suppose to be ,civil service, they will be the end of us, we`ll eventualy run out of options to counter their criminal insanity.
RIP Roddy Piper. "They Live" will live on, and John Carpenter's metaphor wont be lost on the awakening masses.
https://www.youtube.com/watch?v=jA61OB5S-5Q
That was a great documentary and I'm certain the oppressive aliens don't actually represent Hymie.
RIP Roddy!
Yes, 'twas an excellent docu-drama and don't nobody worry none, Roddy is "in cocoon".https://m.youtube.com/watch?v=AE_Q-pHvquU
Haven't lived until you've seen his performance in "Hell Comes To Frogtown".
RIP and STAY AWAY FROM STEROIDS, BOYS AND GIRLS.
Market cap of EM equities = USD 3.7 trillion. Market cap of US Tech, Healthcare & banks > USD 10 trillion
I don't know why that's a good thing. It seems to me as though I'm looking at reality -v- fantasy, nor do I remember any particular arrogance five years ago from the EM side to deserve the description of hubris. But go ahead, pour some more funny money into US equities and see if that casino always pays out.
The inordinate growth of healthcare is a time bomb rather than a boon to society.
Keeping people alive well beyond the point of a useful and comfortable existence is going to create a great many more problems than it will solve.
It will also enable the fatsos of this world to still eat and drink stupidly in the knowledge that a little pill will keep fixing things for them.
go netflix!
no, go Uber... lol!
It's not how i read the opening gambit YHC, until i read your comment; also i am totally unaffected/oblivious to subliminal messages contained in adverts.
However, if i do watch television that jumps to an ad every ten minutes i tend to record the programme and fast-forward/skip over the ads.
Still it's ambiguous! Is it the western strain of setting markets on the EM's that was hubristic and now humiliating? Therein lies the rub.
There's absolutely NO way 90% of the companies listed on NasDark will even be listed, based on Market Cap vs NQ share price valuation, in the next 10 years.
Bankruptsy, mergers, wind down<private cos., reverse mergers, shell corps., LLC unwinds. ect.... The Biotech sector is going to get slammed hard!
I'm the first to admit that I'm clueless and at best all I can do is observe but...as an example. The wealth of Russia is measured at roughly the same as Intel at 135 Bn. Donald Trump's wealth has been assessed at roughly 10 billion in recent weeks according to media. So Trump alone has a worth just under 10% of the entire country of Russia?? And Intel is worth the same as? So Russia, the largest country in the world geographically with untold reserves in resources ie: gold, silver, oil, gas, uranium, iron ore, timber, water, tillageable land, and tons of other natural resources not to mention 165 million souls who combine native and natural intelligence and ingenuity rivaling the US in nuclear armaments and space/satellite technology (they currently afford the US access to the ISS?) is valued at 135 Bn fiat $'s?? So...14 Donald Trumps could just buy the place and move in right? Like I say, I have no expertise, I come here to observe and would never presume I had anything of substance to offer intellectually to most conversations but sometimes common sense and skepticism, which are the only tangibles I can lay my hands on tell me that bullshit by any other name is ....still bullshit.
Thank you; finally intellegence in a comment. Bullshit is bullshit, no matter how much fluff is printed, be it monatary or worded propaganda. The price tag of trying to buy Russia is equivalent to death and defeat of all who try. I know I live in Russia...
I think the comparison is between the MSCI Russia stock index and Intel, not with Russia in toto.
And the same for all other countries as well.
Extra credit for reading comprehension because de debbil is always hiding in the details.
Nice comment. Indeed, we need go compare GDP rather than float. The float is more a function of how developped market is. Obviously, in EM countries capitalization will be lower.
Please define the abbreviations.
MSCI = What?
Morgan Stanley + Capital Group International
Why Don't Jews Believe In Jesus - Simple To Remember
They are causing chaos. Genocide will occur, peace prevails. We ccan purge the Isreali DNA file.
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.
I'm with you in spirit right up to the point where you declare the US a democracy. The Constitution itself forbids such a monstrosity (Article IV, Section 4).
So you need to indict yourself on a second count before any further proceedings occur.
But the whole country can probably cop an insanity plea, at this stage of the game. Happy Friday and have a good weekend.
Your indictment will fail in any international court of law as well as within the borders of the United States..
The vast majority of Americans are complicit by degree, perhaps.
But most have a valid defense as they cannot be held culpablbe because of threatened harm, or, even death, if they refuse to comply with the illegal actions of their Government.
They are given no choice at the Polls and the Political Structure of the United States is impotent. The "leaders" have been installed by the Oligarchs who have subverted the political process for personal gain, constituting a Shadow Government.
The Oligarch Rulers are Multinationals, with a very good chance of living within your own Nation State's borders.
Mea culpa.
Blow me. The fact you have internet, a car, air conditioning, light bulbs, indoor plumbing, air travel, computers, cell phones, refrigerated food, a roof over your head is because America is the most powerful and creative force for good on the planet. Sure, we hva a bunch of douchebags running shit nowadays, but that is not a reflection of the Average US citizen. That is about to change. The fact that you are not living in a German concentration camp watching your sister get pimped out to the highest bidder is because we came over and kicked Adolf's ass. I look forward to your apology. You America haters can suck all of our asses. The reason this world is all fucked up is because of the socialist crap you faggots sent over here. You are running, and ruining, our universities and education system with your fairness shit, you have put shackles onour economy with your phony, and gay, global warming propaganda, you dont want to work, you take 10 weeks of vacation a year and have prospered under the cover of our military. So fuck off. You want to life in a world that is fair, free of conflict where everyone has plenty of money and does not have to work. So tell me again who is the fucking criminal? It sure as hell is not the US. We want our money back for coming over and fighting for you pussies.
"...the combined market cap of US tech, health care and banks is over $10 trillion."
Bubble Bubble, toil and trouble.
That's a lot of $20 aspirins. When you see what they charge for a pissjug, you'll tell Mama to bring you a pickle jar from home.
To compare entire countries, their history, culture, economic resources, geophysical presence and human potential, and in some cases their nuclear arsenals, to stock-jobbers' scrip valued in fiat currency is exceptionalist financial boondoggery in terminal crack-up decline.
Amerika Stronk!.
LOL we believe you.
Let them eat Intel chips and heat by Netflix movies.
That's why the real value of the Stock Exchange is lunacy and will come down to reality soon enough. It is just an enormous bubble inflated with nothing but bullshit. This time when it wll deflate will go to the intrinsic value of the paper money by which it has been inflated. Then only real value will count.
Thanks the US printing press one can make a company "worth" more than the entire China GDP by printing unlimited amount of FIAT.
Market cap meant nothing especially today.
How much market cap if someone would massive sell his share, eh ?
"Markets" are broken in this insane Keynesian central bank controlled world.
F*ck them all.
No Comparison.
I'd rather watch Netflix than watch a bunch of smelly spitting llamas in the wastelands of Chile for years on end.
Ya know, a nice hike, watch the llamas, then have lunch would probably be my limit.
Uh?
Anyone selling shares in Russia? I'd buy those so long as I could be confident they would be honored. But no one a selling.
Companies market cap is debt plus equity...STAWKS.
Countries maerket cap is debt.
This article purports to say that these companies are worth as much as their comparator countries.
But all it ACTUALLY says is that these countries debt is as small as these comparator companies.
Instead of shaming the world financial system, it flatter these prudent countries.
America is about to know the feeling of most Argentinians, Weimerians, etal when the wealthiest among them, owning the entirety of the exchange (DOW JONES in US CASE) could not buy a dozen eggs with it!
Further proof of the absurdity of anglosphere 'markets'. So Netflix is presently worth more than the country of Chile??
I'll take Chile. I'll also take Russia, you can keep Intel.
This graphic is an iconic display of the "pessimism bubble" theory.
The EM world is as pessimistic as the bio-hi-tech world is as bubbly as can be in ETF and stawk frenzy.
The question is which one uncorks first?
'Cos the name of the investment game is : Where there is Fizz I wanna get very physical with my cheap hot money !
And when the fizz goes flat thats when the physical goes nuclear as the Titanic tilts !
Jesus, I was better off drinking french bubbly as now I'm drunk on ZH's fizzy pessimism.
A guy whose name is SPallanzani reminds me of a guy whose name was Verrazano.
When King Francis I of France asked his Admiral Chabot "How's our Man in Florida getting along? Has he found any of that Pesky GOLD that Cortez is sending by the galleon loads to Seville to my dire enemy Charles V? "
The sad answer came : "Verrazano was eaten alive by those Cannibals, Sire ! We'll have to find a replacement." (The replacement was Jacques Cartier).
Damn ! SPallanzani of GFI better watch out as Pessimism has an awesome bite if the fizz whizzes out !
Gold diggers in fracked panhandle and bubble's corpse snatchers; whats not to like about Champagne; it never disappoints.
Looks like if China breaks the Dollar's humiliiating hold on bubble bond n stawk speculation in EMs, we will head for nuke rattle n roll land.
God loves a humble man.
I guess that's why Lloyd Blankfein is doing God's work then. Blankfein is such a humble man, I agree.
The worst thing you could do for old Lloyd is pray to God to save him.
That would be fun to watch actually.
It is amazing how much information about how much has been lost in the dumbing down and corrupting of Amercia has been done in recent years. John Dewey learned from his German mentor to bring the theory that man is naturally good into the education system and that education system has been nationalized by the Federal Government. Meanwhile Edward R. Morrow has done the same for national media. The same thing has been done to churches through the National Council of Churches. They have denied the basic nature of man is evil and exalted evolution to the forefront of our society. They have been so effect at it that it has become impossible to tell anyone about the truth. They have substituted the truth for a lie. It is no wonder America is going down hill so fast. Murder, porn, racketeering, blackmail, selfiness, lying, stealing, fraud have become the values of our day.
Well, I guess the only other thing that can top Hubris & Humiliation (EM equities) is Hubris Beyond Imagination:
http://www.veteranstoday.com/2015/03/03/hubris-beyond-imagination-bibis-...
This article is quite self explanatory for the unwashed, and includes several suggestions for fixing the financial cancer infecting the entire globe (if in fact it is a globe: http://testingtheglobe.com/quest1.html [say a quick trip to Pluto and back might resolve this controversy for good? http://peswiki.com/index.php/Directory:Keshe_Foundation]) ..
I would ask, "What does Russia or Chile Produce"? And then what does Netflix or Intel produce? Only a FOOL would be buying these equites and I do believe that the extermination of MAL-INVESTMENT will return these tech equites to their 'true' value....
Yep
But when the crash happens corporations like intel, netflix etc bite dust and vanish. Remember there was once 'Borland' but ppl hardly remember that now. Thats what is capitalism. But nations remain for ages & centuries.