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Fed-pocalypse Now?
Submitted by Howard Kunstler via Kunstler.com,
“Here’s another fine mess you’ve gotten me into….”
— Oliver Hardy
If ever such a thing was, the stage is set this Monday and Tuesday for a rush to the exits in financial markets as the world prepares for the US central bank to take one baby step out of the corner it’s in. Everybody can see Janet Yellen standing naked in that corner — more like a box canyon — and it’s not a pretty sight. Despite her well-broadcasted insistence that the economic skies are blue, storm clouds scud through every realm and quarter. Equities barfed nearly four percent just last week, credit is crumbling (nobody wants to lend), junk bonds are tanking (as defaults loom), currencies all around the world are crashing, hedge funds can’t give investors their money back, “liquidity” is AWOL (no buyers for janky securities), commodities are in freefall, oil is going so deep into the sub-basement of value that the industry may never recover, international trade is evaporating, the president is doing everything possible in Syria to start World War Three, and the monster called globalism is lying in its coffin with a stake pointed over its heart.
Folks who didn’t go to cash a month ago must be hyperventilating today.
But the mundane truth probably is that events have finally caught up with the structural distortions of a financial world running on illusion. To everything there is a season, turn, turn, turn, and economic winter is finally upon us. All the world ‘round, people borrowed too much to buy stuff and now they’re all borrowed out and stuffed up. Welcome to the successor to the global economy: the yard sale economy, with all the previously-bought stuff going back into circulation on its way to the dump.
A generous view of the American predicament might suppose that the unfortunate empire of lies constructed over the last several decades was no more than a desperate attempt to preserve our manifold mis-investments and bad choices. The odious Trump has made such a splash by pointing to a few of them, for instance, gifting US industrial production to the slave-labor nations, at the expense of American workers not fortunate enough to work in Goldman Sachs’s CDO boiler rooms. Readers know I don’t relish the prospect of Trump in the White House. What I don’t hear anyone asking: is he the best we can come up with under the circumstances? Is there not one decent, capable, eligible adult out there in America who can string two coherent thoughts together that comport with reality? Apparently not.
The class of people who formerly trafficked in political ideas have been too busy celebrating the wondrous valor of transgender. Well, now the wheels are going to come off the things that actually matter, such as being able to get food and pay the rent, and might perforce shove aside the neurotic preoccupations with race, gender, privilege, and artificial grievance that have bamboozled vast swathes of citizens wasting a generation of political capital on phantoms and figments. Contrary to current appearances, the election year is hardly over. There is still time for events to steer history in another direction.
Mrs. Yellen and her cortege of necromancers may just lose their nerve and twiddle their thumbs come Wednesday. If they actually make the bold leap to raise the fed funds rate one measly quarter of a percent, they might finally succeed in blowing up a banking system that deserves all the carnage that comes its way. There is something in the air like a gigantic static charge, longing for release.
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Mr. Yellen naked...argh mind bleach please
I love the smell of sell-stops in the morning !
"What I don’t hear anyone asking: is he the best we can come up with under the circumstances? Is there not one decent, capable, eligible adult out there in America who can string two coherent thoughts together that comport with reality? Apparently not."
I don't know why Kunstler still labors under the delusion that any honest, decent person would want to go into politics. Fools and sociopaths inhabiting top spots of power is a feature of the system, not a bug.
HL Mencken had it figured out a hundred years ago.
As democracy is perfected, the office represents, more and more closely, the inner soul of the people. We move toward a lofty ideal. On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. (1920)
< The Fed raises
< The Fed holds
They could always call their own bluff, I wouldn't put it past such people.
I love the smell of Bankruptcy in the morning. Smells like, smells like Death.
at least he got the box canyon part right...
Isn't that part of Yellenstone national forest. It even has a geyser that spews once in a while.
Could be worse, could have included with Yellen the Clinton woman, Victoria Nuland, Samantha Power, and for diversity mutticultural Frau Merkel.
Time to stock up on food, ammo, and silver rounds. A wood stove and several cords
of firewood may come in handy. This mild winter may be a blessing if all hell breaks out.
A few 5 gallon cans of gasoline in the shed can't hurt either.
If somehow, Trump survives long enough to win election, "Bammy and his crowd of oligarchical crooks will simply sit there in the WhiteHouse, daring him to try and take possession.
You heard it here first folks.
...the stage is set this Monday and Tuesday for a rush to the exits in financial markets as the world prepares for the US central bank to take one baby step out of the corner it’s in.
wrong and wronger.
You underestimate the sheep around the world that are noit paying attention.
A friend was bewailing his 14% loss in his high yield fund and saying: hell, I should just put it all in S&P index fund . . . .
Bring it.
Box canyon? Are you certain that you may not have committed a Freudian slip?
You had me at 'Janet Yellen standing naked'
"............. Janet Yellen standing naked ................................................... and it’s not a pretty sight."
Understatement of the century.
The timing seems wrong for fed-pocalypse. It's prior to Christmas, an election and a war that they want.
Although they have the "transitional" economies of Russia and China bucking underneath them and dragging their feet about being proper CB slaves so there really is no reason to worry with keeping the US as the shining example of Central Banking Capitalism. Also they could use an energy industry route to help pass that lifting of the export ban (they already have that to some extent). If anything they could use a correction but right before Christmas when we/they want to send 100,000 troops to Iraq, seems like wrong timing.
You seem to forget that's there major war going on against Carbon 'Emissions'.
How many Plebes are going to be sacrificed to rectify balance according to the Kleptocrats?
My guesstimate is around 6 Billion or so...
Janet Yellen NAKED-!
CLICK BAIT ...in a Bizzaro world
I appreciate naked women, but not when they have a SNATCH where a pussy should be.
Is that a nickname for Vice Grips ?
Whatever (s)he announces....PM's bitchez!
This is getting pretty easy
(PS, and for you crypto currency lovers, yes Bitcoin bitchez too! They are not incompatible)
NIRP comes next, along with ban on physical cash. Soon after that a ban on PMs. They offer rewards to people who rat on anyone trying to use PMs. You're left with a shiny stack of illegal money that will land you in jail if you try to use it.
Even in the worst case that it is illegal to use (which I don't disagree), you better know who to barter with, and even if can't- that shiny stuff will be just as valuable 50 years from now. Why is that so hard to get?
But this guy right here will get out of dodge, perhaps when NIRP comes :)
I will live to see the day when those zionist bitchez burn in bankers hell, that is of course,
only after ive beaten them & crushed their testicals with my bars of silver....
'Everybody can see Janet Yellen standing naked in that corner — more like a box canyon — and it’s not a pretty sight.'
The thought is inconceivable.
Not inconceivable. A good basis for a pornsite. All the perverts are just begging for a look at Janet disrobed and in action.
End this fkn joke and hike to 5% Janet
It will also reduce carbon emissions drastically.
The 1st Amendment gives me the right to guess...well, it used too, so here goes anyway:
Fed will raise .25 three times then pause and see what develops. They will let select debt burdened companies/financials/others deal as best they can and let chips fall where they may. Excess debt must be purged and they will let much of it happen. If it creeps into their Fed member world they will act accordingly. My guess may be complete FUBAR, but I’m sticking with it for a few minutes at least.
Please refrain from using UNIX terms unless you can back it up with dd or something... I have seen and worked FUBAR, you don't look like FUBAR to me...
rm -rf ratehikeplans
rm * LOve IT! Volcopy that first...
As long as it does not involve visuals of `touch Yellen`... ;)
Fed is nothing more than front business for the Mafia families known as the "Primary Dealers":
Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies LLC
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
Societe Generale, New York Branch
TD Securities (USA) LLC
UBS Securities LLC.
Of these, by far the strongest mob families are Goldman Sachs and JP Morgan. Whatever Fed does or doesn't do, its aim is to keep Goldman and JPM alive at any cost.
Don't discount Meryl lynch as also being a big playa.
But the ocotpus begins at the fed banks and their offspring demon spawn on wallstreet.
Readers know I don’t relish the prospect of Trump in the White House. What I don’t hear anyone asking: is he the best we can come up with under the circumstances?
These ideological purists are REALLY fucking annoying. Let's assume that Trump isn't some Manchurian candidate. If not then he is willing to spend milllions of his own money to become a President Beholden to No One. Even if the guy is doing it purely out of ego (as if any of the other candidates aren't), how is he going to be any worse than the last 8 "decent, capable, eligible adults" to sit in the White House???
All the Libertarian and Conservative purists bashing Trump have yet failed to show me how any of the other viable options aren't exponentially worse! The fact is not just anybody off the street can run for president. Of those outsiders wealthy enough to do so I see Trump is the only one who has stepped up. If he is anything other than a Manchurian candidate he bedomes the berst president we've had since Kennedy the moment he is sworn in.
I say we get everyone currently in charge of .fedgov since 1/1/2000 (or retired since then) and put them into concentration camps.
Then we elect new rulers.
For the children.
I wouldnt get your hopes up too high. Look at Le'pens, the anti refugee, anti mooslim, anti non border politician.
Fist vote was a landslide Le'Pen. Ahhhh but wait. Second vote (after a bit of slight of hand magic) was landslide pro refugee, pro mooslim, pro non border, Bertrand.
(snip) Despite a resounding success during the first round, none of the regions went to the Front National in the second.
Also, remember how surpised everyone was when we heard that Obama won a second term running against Romney?
To this day I've yet to meet anyone personally that voted for Obama but hundreds who voted for Romney.
I expect something like the same when TRUMP runs.
"Ms Le Pen said the party had been "disenfranchised in the most indecent of ways by a campaign of lies and disinformation".
She had stood as a regional presidential candidate in the northern region of Nord-Pas-de-Calais-Picardie, while her niece Marion Marechal-Le Pen was the FN's candidate in the race in Provence-Alpes-Cote d'Azur, in the south.
After both led with more than 40% of the vote in the first round on 6 December, the Socialist candidates in those regions pulled out so their voters could support Republican candidates in the second round.
The FN actually increased its votes in the second round to more than 6.8 million, from 6.02 million on 6 December as more people voted, according to the ministry of the interior (In French). But the FN share of the vote went down slightly from 27.73% to 27.36%."
http://voxday.blogspot.com/2015/12/the-anti-nationalist-conspiracy-succe...
What I think he is saying, (and I tend to agree, and not a purest by any means) is that at this particular juncture, at this particular time and local/world events happening, with the general population reaching its greatest level of angst and distrust of the government in a long time....
It IS very sad that we only have One candidate in the whole country of any party out there receiving the benefit of it all.
Wouldn't it be great if there 6-10 people awake and running
Image if people, if in 1776 there was only ONE guy of the caliber of Jefferson?
Image if 1776 if the only had Trump.
(Father of constitution material?)
I'm/was a Ron Paul voter
So they raise and let the BRICS countries go down because of it. The start a war. When we lose that war, then what will the peoples do then? Oh, woman in all combat rolls, right.
Threw up chunks after the first sentence.
Wrong time for this? I remember the movie 'Patton' where General Patton reels off all the reasons the Germans will not launch an offensive (Battle of the Bulge), then he concludes:
' I therefore conclude that's exactly what they (the Germans) will do!
https://www.youtube.com/watch?v=lLDMhyESeaY
"pull it!"
Great line, great name. Fits with fight club.
Avatar maybe a squid on the globe's face fangs sucking...
So, if Yellen hikes rates, what will happen to europe rates? Things are not that different there, and they have their own market to be crushed.
Warning : A lot of disrespectful comments regarding Mr. Yellens box canyon on this thread.
the only "BOX CANYON" remark that i've read about so far was somewhere above and it stated, and i quote, "WAS BETWEEN HER LEGS!", which i found very humorous.
No matter what the Fed does its nothing but another wad of chewing gum jammed into another hole.
This crash is going to happen one day soon. Everybody knows it, everybody can see it, everybody can feel it.
My advice is if you are paying a morgage on a house, then you should buy a wooded lot somewhere away from it all. Theres tons of good lots large and small available dirt cheap right now with a lot of owner financing.
Build yourself an off the grid small cabin thats heated with your own wood. Learn about a rain water barrel and a sawdust compost toilet and how to garden and can foods.
When this does fold and you lose your house and everything else at least you will still have a roof over your head. And! You may find that you enjoy it.
The ZH story on busted junk bonds is the best reportage; timely, incisive, important. Well done, Tylers. Eyes wide open.
'Information is light.' (Tom Stoppard, English playwrite).
"To every thing there is a season, and time to every purpose under the heaven:A time to be born, and a time to die; a time to plant, and a time to pluck up that which is planted;A time to kill, and a time to heal; a time to break down, and a time to build up;A time to weep, and a time to laugh; a time to mourn, and a time to dance;A time to cast away stones, and a time to gather stones together; a time to embrace and a time to refrain from embracing;A time to get, and a time to lose; a time to keep, and a time to cast away;A time to rend, and a time to sew; a time to keep silence, and a time to speak;A time to love, and a time to hate; a time of war, and a time of peace." (The Bible) Trade, yes. Domination, no. Turn to the good people of the world, not their batshit crazy, lying, deceiving, bailed out banksters led by the City of London Rothschilds and their hideous plot for a Greater Israel, stealing from neighbors, and using the USA as its shield, sword and Treasury. End the Fed. And stay away from the moneychanger Rothschild led City of London warmongers who would burn the whole world for profit. Let's name a few: Rockefeller, Bush tribe, Cheney, Rumsfeld, and their counterparts among the thieving Demoncraps. True traders should watch this week with honest eyes. Steady, aim...fire.< The Fed holds.
< The Fed raises, reverse 1 month later, followed by QE4 and ZIRP.
Raising just for the sake of credibility. (all of wich they have lost already)
I would not be surprised that she does not raise the fed rate. Then the market can have a nice Santa Clause rally, people on Wall St get their year end bonuses and have a very merrrry Christmas.
Jesus fucking Christ who his a fuck about the next president. It makes no difference the Deep State is always in charge and always gets what it wants!
Does it? Are you that nihilist? Get off your knees.
"Welcome to the successor to the global economy: the yard sale economy, with all the previously-bought stuff going back into circulation on its way to the dump."
Btw, to moving everyone to a cashless(ie pay oligarchs a % on every transaction), is requiring yard sales, flea markets, farmers market to use one of those iPhone apps to do credit cards.
Cashless yard sales
https://www.youtube.com/watch?v=imamcajBEJs&index=14&list=RDeHFA_wEK_00
THE DREAM IS COLLAPSING
https://www.youtube.com/watch?v=8USz7gb2RGQ
"Don't you cry. Get ready. Move on up... You may find from time to time, complications. Move on up. Enter the steeple of beautiful people where there's only one kind."
Make an honest economy. Honest trade.
"Remember your dreams are your only schemes. Take nothing less than the second best.You can pass the test. With just a little faith, you can surely do it.Move on up."
The dream of a better day.
Trade, yes.
Domination, no.
https://www.youtube.com/watch?v=76RrdwElnTU
Hallelujah...the prince of peace and prosperity.
The Prince of peace and prosperity shall reign forever, long after the cynics are gone. Merry Christmas.
Americans do not understand why Britain and Europe danced to Jimi Hendrix, Curtis Mayfield, Northern soul.
Americans do not understand the old world, or the northern people. Americans understand Russia, and despise the moneychangers, and their bureauRats; their money and media machine of bare faced liars. See the problem?
Those of head and heart and sound money dislike the State we are in. Those who only want comfort are bought by any little thing.
THANKYOU MR. KUNTSLER! I COULD COPY & PASTE THE WHOLE FUCKING ARTICLE HERE 'CAUSE HE HITS THE NAIL ON IT'S FUCKING HEAD!
The United States political system is a clear failure. It is a bribery-besotted club of sociopaths and psychopaths, in other words, a gang of political parasites. They are motivated solely through bribery and are only going to do what is in the interests of their paymasters.
• Abolish the Federal Reserve System;
• Hold banking stock and bond holders and banking executive officers completely responsible for the totality of losses even if it exceeds paid in capital and face value of bond holdings;
• Prosecute and severely punish the political parasites for accepting bribes (I.e., campaign contributions, honoraria, fees for speeches, free rides on Crony Capitalist Corporate jets, etc.),
• Prosecute Crony Capitalist Corporations and Oligarchs for paying bribes to the political parasites;
Fine mess compilation.
https://www.youtube.com/watch?v=W3qcj2MzPYc
:-D
Yep. Another fine mess...
My daughter is like Gracie (although more educated, wiser) and her best friend is like Jack Benny (although more educated, wiser). They are true friends.
They are in their 20s, college kids. Is DNA fate? Sometimes, I wonder...
Everybody can see Janet Yellen standing naked in that corner — more like a box canyon — and it’s not a pretty sight.
And then an observant man in the crowd states, "wait a minute - are those - are those balls? Oh shit! She has balls!"
'Everybody can see Janet Yellen standing naked in that corner '
I think, only a blind man would like to have a go with the old hag
hah ha