This page has been archived and commenting is disabled.

Bloomberg's Commodity Index Just Hit A 21st Century Low

Tyler Durden's picture




 

After the Bloomberg commodity index crashed overnight, having tumbled for each of the past 4 years, this happened:

  • BLOOMBERG COMMODITY INDEX SLIDES TO LOWEST LEVEL SINCE 1999

Said otherwise, the lowest level in the 21s centiry. 

Yup, rate hike any minute now.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 08/23/2015 - 22:09 | 6460120 Bank_sters
Bank_sters's picture

QE 4  anyone? anyone?  ..    JUMP YOU FUCKERS>

Sun, 08/23/2015 - 22:11 | 6460134 Tallest Skil
Tallest Skil's picture

Do we really want them to jump? I mean, all those lampposts going unused... And after all, we here generally believe in the idea of putting in your own work to get your own rewards, right? Well, what good is economic collapse and restoration to a sane monetary system if we–the people who want it–didn't do anything to get it?

Disclaimer: I sell rope.

Disclaimer disclaimer: I don't, really.

Sun, 08/23/2015 - 22:19 | 6460175 Bilderberg Member
Bilderberg Member's picture

It's lower than 9/11 2001...that's a recession

Sun, 08/23/2015 - 22:22 | 6460190 johngaltfla
johngaltfla's picture

Usually this shit happens when I'm deep sea fishing. So why am I not on a boat with big titted blondes (not my wife) deep sea fishing like any other bankster?

Sun, 08/23/2015 - 22:27 | 6460213 Nikki Alexis
Nikki Alexis's picture

China down 8%.  I'm too excited to sleep.  Not even the vibrator can knock me out tonight.

Mon, 08/24/2015 - 03:34 | 6460994 ZippyBananaPants
ZippyBananaPants's picture

Vibrator?
Be honest, how many of you clicked to see if you could get a better photo of Nikki?

Sun, 08/23/2015 - 22:25 | 6460203 KnuckleDragger-X
KnuckleDragger-X's picture

I can't get through a doorway with the giant schadenboner I've got right now. I'm willing to bet right now that there are phone calls going on about how to stop the tsunami from rolling over Wall St. in a giant crash.....

Sun, 08/23/2015 - 22:45 | 6460290 PlayMoney
PlayMoney's picture

Think they are concerned about protecting my inverse funds?

Sun, 08/23/2015 - 23:08 | 6460420 Tallest Skil
Tallest Skil's picture

Of course! They want to acquire those funds to save their skins, after all. If they don't preserve them, they won't have them available to bail themselves in!

Sun, 08/23/2015 - 22:19 | 6460169 junction
junction's picture

This century is young yet, let's see if we can't set new record commodity lows.  USA! USA! USA!

Sun, 08/23/2015 - 22:10 | 6460128 Budnacho
Budnacho's picture

Gonna be a fun week!

Sun, 08/23/2015 - 22:10 | 6460129 TeamDepends
TeamDepends's picture

Tonight we're gonna party like it's 1999

Sun, 08/23/2015 - 22:19 | 6460176 Implied Violins
Implied Violins's picture

I'd rather suffer Y2K than QE4!

Sun, 08/23/2015 - 22:16 | 6460141 Normalcy Bias
Normalcy Bias's picture

QE 'til the bitter end, bitchez!

Sun, 08/23/2015 - 22:13 | 6460143 nmewn
nmewn's picture

Clearly this calls for a recalibration of the index.

See? All fixed!!! ;-)

Sun, 08/23/2015 - 22:18 | 6460166 Osmium
Osmium's picture

Really, everything is fine.

 

https://www.youtube.com/watch?v=zDAmPIq29ro

Sun, 08/23/2015 - 22:20 | 6460184 booboo
booboo's picture

take some copper, wrap it around a some lead, shove it into a brass case, put in a steel barrel, ski past some man made islands in the South China Sea and flip off the locals and BLAMMO, you got a recovery. So easy Krugman could pull it off.

Sun, 08/23/2015 - 22:14 | 6460146 EarthHuman
EarthHuman's picture

I think carbon credits will be a good buy as we head into COP21 in Paris in December.

Sun, 08/23/2015 - 22:15 | 6460151 DirkDiggler11
DirkDiggler11's picture

Gartman - That Beautiful Son Of A Bitch is pure $$$$. Baby ! He is the gift that keeps on giving. I'm sending his ass a fruit basket at Christmas time this year !

Sun, 08/23/2015 - 22:26 | 6460211 KnuckleDragger-X
KnuckleDragger-X's picture

Or maybe a basket of fruits.....

Sun, 08/23/2015 - 22:15 | 6460153 holdbuysell
holdbuysell's picture

The mother of all margin calls in 3...2...1...

Sun, 08/23/2015 - 22:17 | 6460161 Son of Captain Nemo
Son of Captain Nemo's picture

We ALL knew this day was coming.

But I have to tell ya I really thought it was going to take place 4 years ago!

As far as "house of cards" engineering goes?... The guys in Washington, London and Brussels are either the masters of all creation in this department!... Or the rest of us that they apply their trade to are the dumbest of motherfuckers for not lynching all of them at this point!!!

Must be somewhere in the middle?!!!

Sun, 08/23/2015 - 22:40 | 6460261 El Vaquero
El Vaquero's picture

This day should have come 7 years ago.  We would have been rethinking how we conduct trade and production already.  

Sun, 08/23/2015 - 22:22 | 6460188 Bunga Bunga
Bunga Bunga's picture

It just means more socialists like Cramer or Orman will have their coming out.

Sun, 08/23/2015 - 22:24 | 6460201 Dr. Engali
Dr. Engali's picture

Funny how we've gone back to the levels when the 2nd Great Depression began in 2000. Everything since then has been masked by unprecedented levels of debt. Next stop, 1991 levels, there's a lot more leverage that needs to be wiped out of the system.

Sun, 08/23/2015 - 22:28 | 6460222 Stormtrooper
Stormtrooper's picture

And then next stop at 1971 levels when we had good money.

Sun, 08/23/2015 - 22:25 | 6460205 cherry picker
cherry picker's picture

I don't know about the rest of you, but I really do not feel like going through another 'depression'

I am wondering what happened to 'Hope' and 'Change'?  I just see more of the same and unfortunately it is all downhill because people cannot see what is happening in front of their nose.

We have to come to terms with mass production, robotics and technology.  There are not enough jobs out there for the degreed, never mind journeymen and the uneducated, good luck.

However there are plenty of people in this world who will blame the USA for their hard ships and will they be wrong?

Sun, 08/23/2015 - 22:38 | 6460252 Apply Force
Apply Force's picture

Umm, this is not the actual problem -

"We have to come to terms with mass production, robotics and technology.  There are not enough jobs out there for the degreed, never mind journeymen and the uneducated, good luck."

 - World-wide per capita and affordable energy is the problem, and causes all kids of financial distress, which then causes increased central bank shenanigans, that then cause grand market distortions.  So there will be a lot of hand-wringing and flag waving, and then a lot of war.

And there are always jobs farming (whatever plot of land you can), be they degreed, journeyman, or the totally uneducated.  Think Maslow's hierarchy in the upcoming "economy" because eating is important.

Sun, 08/23/2015 - 23:38 | 6460539 lincolnsteffens
lincolnsteffens's picture

You forgot that most governments and the legal systems are bought and paid for.

Mon, 08/24/2015 - 00:11 | 6460663 Kurpak
Kurpak's picture

peak humans

Sun, 08/23/2015 - 22:26 | 6460209 Johnny Fiat and...
Johnny Fiat and The Contangos's picture

It's going to start raining bankers, bitchez!

Johnny

Sun, 08/23/2015 - 22:52 | 6460334 PlayMoney
PlayMoney's picture

Some cat in China that runs a metals fund, well for some reason it stopped trading. So shareholders went and snatched his azz up and took him to the cops, right from his apartment, wanting to know WTF? Its just starting to get interesting. 

Sun, 08/23/2015 - 23:06 | 6460409 Downrange
Downrange's picture

Got to admire their spunk . . . my respect for chinese people just ratcheted up 

Sun, 08/23/2015 - 23:10 | 6460429 Johnny Fiat and...
Johnny Fiat and The Contangos's picture

+1 on the tip-Just saw that.

That instant karma is contagious, too.  That shit could show up anywhere...

Sun, 08/23/2015 - 23:41 | 6460551 lincolnsteffens
lincolnsteffens's picture

Yeah, great! Then the cops let him go after the pissed customers left.

Mon, 08/24/2015 - 07:37 | 6461313 Nobody For President
Nobody For President's picture

So now the Chinese people know - next time, they just hang him.

Sun, 08/23/2015 - 22:31 | 6460231 hotrod
hotrod's picture

Well the FED would have raised rates BUT

Sun, 08/23/2015 - 22:33 | 6460236 hotrod
hotrod's picture

When does Housing start to Fold and with it State tax revenues and with that Govt. jobs etc.

Sun, 08/23/2015 - 22:33 | 6460238 henry chucho
henry chucho's picture

An empty barrel,is now worth more than an empty barrel,with 42 gallons of oil inside it..

Sun, 08/23/2015 - 22:42 | 6460271 AetosAeros
AetosAeros's picture

It's been so long since I've actually posted something, I couldn't even tell you what it was about. I guess the gleeful mood I'm in watching this house of cards start to smoke and flame a bit has got me on a roll....

Your comment is one of the best I've seen in a while, I'll be chuckling through the night, (no offense knuckles, you always have me in stitches), especially if I wake up tomorrow and see that the plug was pulled and people have to go out and do things again. Like find things to put in expensive empty barrels (after they dump out all that wothless crude) so they can eat.

 

+100

Sun, 08/23/2015 - 22:44 | 6460285 Omega_Man
Omega_Man's picture

Attention everyone... it is time to panic. Get your seeds ready...

CNBC - buy the dip!

Sun, 08/23/2015 - 22:48 | 6460312 Omega_Man
Omega_Man's picture

we will have 30 years of the lost generations or...

 

WAR!! 

 

OR... US folds and we have a gold standard...after debt wipe out

 

which will it be?

Sun, 08/23/2015 - 23:05 | 6460403 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

Obama will probably back EBT Cards with gold and let the dollar float to hell.

Sun, 08/23/2015 - 23:10 | 6460430 Jack Oliver
Jack Oliver's picture

As the sun quickly sets in the WEST and the EAST !!

Sun, 08/23/2015 - 23:17 | 6460455 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

I've NEVER seen a market so oversold. Prices will HAVE to go up from here!

 

 

 

(I'm refering to the red ink cartridge market.)

Sun, 08/23/2015 - 23:25 | 6460483 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

If this sh!t keeps up, the US unemployment rate wiil drop to 4.0%. That's bullish right?

Sun, 08/23/2015 - 23:42 | 6460560 adr
adr's picture

Hmmm, 1999. Lowest commodity index in 16 years?

Well my gasoline isn't $1 a gallon, a fast food meal isn't under $3, milk sure as hell isn't $1.49, eggs aren't $.99 for a dozen, 4 sticks of butter aren't $.50, health insurance isn't $80 a month, I can't buy pants at Macy's for an actual price of $20, a new Honda Civic doesn't start at $13k, property taxes aren't under $1000 a year, and a house sure as hell doesn't cost $115k in the neighborhood like it did in 1999.

So what happens when commodities crash, but end consumer prices don't crash along with them?

The cure is a total collapse in prices. Fuck the banks and the overinflated corporations dependent on overpriced everything. $250 per sq ft for a shit house in bumblefuck Massachusetts is insane.

Did you know that you can cut the price of almost anything you buy at a mass retailer by 50% and still leave them with 15% gross profit? Who the fuck allowed margins to grow to a 50-75% range at retail? People wonder why we're fucked.

I saw $5 backpacks at Five Below. Yeah they aren't made very well, but at least as good as the $12 backpack at Walmart. Both were bought for $4 direct from China. Five Below is happy with making $1, but Walmart needs $8. The consumer gets the same quality good, but pays less than half.

Is it really deflation if you buy the same exact good, produced for the same amount, giving the same profit to the actual producer, but pay less?

I call it reality. The fantasy is 60% base margin for putting a product on the shelf and doing nothing to help sell it.

Mon, 08/24/2015 - 00:32 | 6460725 Bunghole
Bunghole's picture

Back in the 80 (think Challenger go boom time frame), I worked as a stock boy at Lazarus (Macy's today).

Markup on clothing back then was 100% and my first eye opener.

Long Thrift Stores

Mon, 08/24/2015 - 03:01 | 6460967 wildbad
wildbad's picture

tip o the week:

Open a Nail Gun rental business.  Make good money and keep the deposits.

Mon, 08/24/2015 - 07:47 | 6461338 Nobody For President
Nobody For President's picture

Woke up at zero three hundred to go pee, and just on a hunch turned on the computer to check the asian markets - which I NEVER do - hot damn!

I have a shitpot of tza and stops in - sure as fuck don't need the stops, put in some buy orders on hold for my Pacific time market open of oh six thirty.

BTFD! Only buy inverse leveraged ETFs...I'm already up an obscene amount of money, and the market ain't even opened yet.

Every dog has his day, and Monday is gonna be MINE - and a bunch of other ZHers, I suspect.

 

Do NOT follow this link or you will be banned from the site!