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Time For Torches & Pitchforks: The Little Guy Is About To Get Monkey-Hammered Again
Submitted by David Stockman via Contra Corner blog,
The reputations of Ben and Janet are going to be eviscerated in 2016. That’s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies. The plain fact is, massive falsification of financial markets via their “wealth effects” doctrine did not levitate main street prosperity at all; it just fueled another giant speculative mania in the Wall Street casino.
The prospect that the leaders of our monetary politburo are about to be tarred and feathered by economic reality might be satisfying enough if it led to the repudiation of Keynesian central planning and a thorough housecleaning at the Fed. Unfortunately, it will also mean that tens of millions of retail investors and 401k holders will be taken to the slaughterhouse for the third time this century.
And this time the Fed is out of dry powder, meaning retail investors will never recover as they did after 2002 and 2009. Moreover, the overwhelming share of main street losses will be the among baby-boom demographic——sixty and seventy something’s who will be down for the count.
As Jim Quinn so graphically put it an the adjacent piece,
Investors are lazing around the waterhole like unsuspecting gazelles. This herd will be running for their lives in the near future, as danger is lurking.
With each passing day the evidence mounts, and yesterday morning’s trade data was a doozy. During November exports shrank by 2% and are now down 12% from the peak, and at the lowest level since March 2010.
Yes, you can count on the Keynesian paint-by-the-numbers crowd to insist that exports don’t matter that much. Goods exports are just 8% of GDP and total exports including services are 12%.
So what is 12% when Janet is busy at the Fed’s dashboard, tweaking the dials and thereby goosing the labor market back to the pink of full employment health?
Well, let’s just say it again. Exports are a leading indicator because they foretell a shrinking world economy and the gathering implosion of the 20-year global credit bubble that vastly distorted and bloated the entire economic life of the planet. Among much other havoc stemming from Great Deflation now underway will be a body-blow to the supersized but unsustainable corporate profits that were generated by the credit bubble.
By contrast, the seasonally maladjusted and trend-cycle juiced monthly BLS labor report is a thoroughly lagging indicator. And its an especially egregious victim of the Fed’s Bubble Finance regime.
To wit, the massive flood of free money into the canyons of Wall Street not only unleashed its gambling instincts like never before, but also turned the C-suites of corporate America into stock trading rooms.
Accordingly, corporate executives have become so obsessed with financial engineering and capturing stock option winnings that their principal lens on reality has become the Fed juiced stock averages. That makes them bullish in the extreme and hoarders of labor until the bubble bursts.
As a reminder, consider again what happened during the Greenspan housing/credit bubble. Anyone paying a modicum of attention could have seen that an unsustainable boom in housing prices and mortgage finance was underway, and that when the music finally stopped there would be a sharp downshift in household spending and extraction of credit from phantom home price appreciation.
The fact is, even Greenspan did not try to hide the phony prosperity, but actually publicized the massive amount of MEW (mortgage equity withdrawal) that was artificially ballooning the US economy. At its peak in 2006-2007, mortgage equity extraction accounted for upwards of 10% of disposable personal income.
So even though this was evident by 2005 or shortly thereafter, how did corporate America manage the labor cycle?
Why they adhered to the stock market averages in a perfect cheek-by-jowl manner! That is, the BLS jobs count is now an indefatigably lagging indicator divorced from the real main street economy; it rides the escalator up the financial bubble cycle and is slammed down the elevator when the bubble bursts.
Thus, it took 60 months for nonfarm payrolls to rise by 8 million jobs—-from roughly 130 million to 138 million between early 2003 and January 2008. Then in the next 20 months lay-offs soared and the entire 8 million job gain was wiped out.
Needless to say, the BLS’ nonfarm payroll count peaked at 138.4 million just two months after the stock market peaked in November 2007. From there both careened down the slippery slope of a Fed induced financial bubble collapsing on its own weight.
Yet back then neither Bernanke, Yellen (she was then Vice-Chair of the Fed) nor the rest of their Keynesian posse saw the recession coming—even when it was already well underway. Indeed, watching the BLS Jobs Friday count—–which by mid-2008 stood at 137 million or just shy of its all-time high—they saw no reason for alarm.
Then the market plunged and the C-suite panicked. Six million jobs—-most of which would never have been created in the first place absent the Greenspan housing/credit bubble—-were deep-sixed within less than a year.
Needless to say, here we are again with the monetary politburo gumming about their success in reviving the US economy based on sharply improved “labor market conditions” and a steadily rising BLS jobs count. And once more the Wall Street stock peddlers are beckoning the retail sheep to the slaughter based on the utterly foolish proposition that the Fed is raising rates after 84 months on the zero bound because the labor market and US economy are so strong.
No they aren’t! This time the C-suite has adhered to the Bernanke-Yellen bubble curve even more slavishly than they did during the Greenspan boom. Unfortunately, two year from now the lines on the chart below will have plunged sharply toward the lower right.
Forget the BLS’ completely manipulated and medicated jobs numbers. The fast money has already realized that the jig is up. The Fed is out of options, recession is coming to these shores in a gale force from a faltering global economy and financial risk is rapidly coming out of hiding.
The sharp flattening of the yield curve is one clear sign. The 2s30s, in fact, is at levels last reached in early 2008.
Likewise, the overnight general collateral rate is at 0.55%, the highest that it has been in over 7 years.
What happens in an environment when risk comes back out into the open? As we have learned twice this century already, the whole house of financial cards comes crashing down.
The unfailing leading indicator that another Fed-driven financial bubble is fixing to collapse is the CCC junk yield. As is evident below, it is already knocking on the door of 20%, and the calamity of defaults in the oil patch, mining sector, retail and much more is just getting started.
In fact, bond defaults will be the transmission channel by which the global deflation pounds the Wall Street casino and brings another recession cycle to main street. In that respect, one of the most egregious evils of ZIRP and financial repression is that they prolong and distend the bad credit cleansing cycle.
This year, for example, only the tip of the default iceberg emerged in the shale patch because dozens of insolvent companies were able to refinance and thereby extend and pretend. But when that string runs out during the months ahead, the high yield default rate will soar even above its prior historic peaks, and send the entire corporate bond market into a thundering retreat.
Under these conditions, the idea that the stock market is reasonably valued is almost criminally preposterous. Yet as we indicated yesterday, that truth is almost undetectable amidst Wall Street’s absolute deception and flim-flim on the matter of corporate profits.
The fact is, the ex-items forward hockey sticks published by the sell side stock peddlers bear no relationship to reality. In March 2014, for example, the consensus projection pointed to earnings of $137 per share on the S&P 500 for 2015; they are ending up 24% lower at $104.
By contrast, the real story lies in what has happened to honest GAAP earning since the pre-crisis peak in June 2007. To wit, compared to S&P 500 earnings of $84.92 per share at that time, per share earnings at the next peak in September 2014 amounted to $106 per share.
That’s right. Reported per share earnings growth over the seven-year period was just 3.2% annually. And a considerable share of that miserly gain was due to shrinkage of the share count owing to the massive $3 trillion of stock buybacks which have occurred during the interim.
Since the September 2014 LTM period, however, the actual earnings of the S&P 500 have been heading straight south, and in the most recent quarter clocked in at just $90.66 per share.
That’s a 15% drop and the shrinkage of earnings is just getting started. And it means that the S&P 500’s 8-year EPS growth rate since the June 2007 peak now stands at a laughable 0.82%.
That also means that on the heels of Tuesday dead cat bounce, the broad market’s trailing multiple closed in the nosebleed section of history at 22.9X.
Finally, if falling per share earnings in the face of an oncoming recession were not enough, the fact remains that profit margins are still near all-time highs. Yet if the gathering global deflation and CapEx depression mean anything, it is that the bloated profit margins which emerged during the credit boom will undergo drastic compression in a world swimming in excess capacity and malinvestment.
So believe this. Whatever savings and investments the middle class baby-boomers have left is about to get monkey-hammered good and hard.
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Long rifles and ammo.
Talking of being 'Monkey-Hammered'......
http://beforeitsnews.com/global-unrest/2015/12/gangs-in-london-can-you-g...
"...meaning retail investors will never recover as they did after 2002 and 2009"
What? You mean retail investors actually recovered from 2009? The data says otherwise.
http://www.zerohedge.com/news/2015-12-30/next-time-your-financial-adviso...
"...if it led to the repudiation of Keynesian central planning and a thorough housecleaning at the Fed."
No housecleaning needed... just a thorough demolition.
The problem with demolition is that most of the people I know outside of finance blame this on the "capitalism" boogie monster. Assuming that is representative, an implosion and pupulist rebuild is only going to result in more of what got us here.
It's the " Yes we can! " economy.
The fed is not out of dry powder they are just going to grab another gun, may blow up in their face though...
http://debtcrash.report/all-posts-list/all-post-list/entry/the-fed-is-no...
and if any of you haven't seen The Big Short yet, well here's a good link for it:
http://cinema.solarmovie.ph/link/play/5988577/
http://www.zerohedge.com/news/2015-12-23/big-short-every-american-should...
http://www.zerohedge.com/news/2015-12-29/fed-policy-toxic-michael-burry-...
Monkey Hammered! LOL Makes me think of a monkey sitting at a typewriter. Oops! Sorry GW fans.
Monkey Hammered brings this picture into my mind:
http://www.thepornster.com/video/479/black-ho-gets-redneck-cocks-up-the-...
LOL
Thanks for the link.
Good movie.
You make a great point. And to make it even worse, what we have is such a bastardized version of "capitalism", you can't even call it such. As soon as the government intervenes, it ceases to be capitalism.
The prospect that the leaders of our monetary politburo are about to be tarred and feathered by economic reality might be satisfying enough
No, it does not even come close.
There is much too much to answer for.
9/11
Domestic Spying
Repeal of Glass-Steagall / unregulated derivatives
2008
ZIRP & QE
So much more
Let this leadership continue at the peril of civilization.
Bloomberg just spent the morning segment debating why the Fed is still front and center in the daily "market". Even a chief propagandist for the Fed is discussing WHY every word from the Fed is still the guiding light for the "market". You really mean "Faux Market". Why slice and dice words from the Fed anymore? Its truly ludicrous to pretend this is anything other than a mirage. They've broken it completely. They've openly destroyed the "quaint notion" of SAVINGS. They've taken the strongest hands that normally step in and repair an over leveraged, malinvested, cycle and tied a concrete block to them and pushed them overboard with ZIRP. Now we've propped up the companies that the strong hands should have stepped into and instead propped these zombies up with our children's "dollars" and promises.
The only "rally" is going to be in the vomitorium.
Sometimes I wonder what Tyler is talking about. "Giant speculative mania?" It looks to me like we ended 2016 about where we began it. Stocks are flat, bonds are flat, commodities got killed. Exports are a "leading indicator/" Exports are tabulated ex post facto, hence a lagging indicator by definition.
Since you are capable of time travel, I guess we need to thank you for coming back and telling us instead of taking advantage of it for your own gain.
I sure wouldn't have.
Bloomberg? Market? Economy? Savings? Who cares. We have much bigger problems.
US capitalism/lifestyle of maximizing profit in a small society might be ugly but can survive. But, within an growing exponentially domestic population, and imitated globally, is headed for maximum destruction.
What are you talking about? The profit motive is the mother of innovation. The sky would be the limit if we had global capitalism and free markets. Interventionism and socialism breed a dull and mediocre society.
Your post is pretty ridiculous.
Innovation requires technology that requires energy — post collapse the only energy available will be trees.
Post collapse? Kind of a non-sequitur, I was replying to your comment about capitalism. If we had actual capitalism on a global scale, we wouldn't be talking about a collapse at all.
Capitalism is like the word sports. Some people play soccer. Some rugby. Some ice hockey. Volleyball. Lots of corruption (Fifa) and dirty politics. Some players making millions. Some teams can’t afford their bus trip.
Capitalism and sports are everywhere.
However, what you want is not capitalism. What you want is top-down capitalism—fascism. Dictate to others your rules.
Wrong in every possible way. Don't try to put words in my mouth, you can't do it, primarily because you suffer from unwarranted intellectual arrogance. The capitalism I speak of is free market capitalism. You should read Human Action by Ludwig von Mises, you won't sound so ignorant.
It don't exist and will never exist : that model. All pie in the sky.
Stop reading out of an economic Koran.
Another mantra so far removed from its intial message: Peace!
You guys love to quote "creationist theory" that does not correspond to reality in areas of human life. Your view : DOGMA ! Not FACT.
What could become fact is not the gold buggery BUT full scale banker collateral in terms of debt/deposit; aka end of fractional reserve PRIVATE banking.
Only Cbs which are national banks printing official FIAT money can issue debt. Period. As that is aggregated against the tax revenues.
And that is NOT free financial market but regulated money markets by the State; aka Keynesian balance.
damn right !
Madoff and Corzine showed us that way; along with Lehman and all the others who derivatized and then, post QE start, carry traded the Titanic even further to the edge.
Free markets are "derivatives to the Moon ! "
Now that is innovation with a capital I !
No siree no mediocre society today.
And if Paulson hadn't bail outed and Bernanke hadn't QEd we would have hit the financial collapse of markets in 2009 and it would have destroyed the world like 1929 did during the subsequent national socialist rampage.
By the looks of it all bailouts and QE have achieved is to have made the problem five times bigger and more global without avoiding the fall of capitalisitc system as the geopolitics of ongoing current Oligarchy tug of war goes viral.
We are still heading to the 1930s; nationalism and jingoism on the rise...in a world with eco calamity as additional cherry on the cake.
Dear David,
Please keep your verbage up to date.
"The Little Guy Is About To Get 3====>Schlonged<====3 Again"
There now. All is better.
Speaking of long rifles, check this out:
http://www.nosler.com/accubond-long-range-bullet/
Check out the ballistic coefficient (both G1 and G7) for the 142gr 6.5mm (.264") bullets. At the altitude that I live at, those will still be supersonic at 2000 yards out of a .260 Rem. I'm building a .260 Rem AR-10, incidentally.
(FYI, with ballistic coefficients, when the bullet is a boat tail, use the G7 BC if available when calculating trajectories.)
Thanks for the tip, I'll look into these. Must be a new flavor.
Right now my go to handload bullet is the Barnes TTSX, particularly 130 grain for 270 and 168 grain for .308/30-06 class. Excellent bullet.
They are a bonded bullet on top of being super streamlined. That means that I can use them on bull elk and oryx. I whaked a cow elk with a bullet that wasn't bonded 2 years ago, and the thing fragmented. That was an '06 at under 100 yards. It turned her lungs into goo and blew huge chunks out of her rib cage. It was very effective, but for a bull elk or an oryx, penetration is more important than it is for a cow elk or something smaller. On an oryx, you have to be able to punch through bone.
Are they relatively new? I have been using Accubonds and Ballistic Tips for years so I am pretty familiar with the Nosler line. In fact, 90% of my long gun handloads are either Noslers or Barnes.
They weren't even on Nosler's website a few weeks ago, so they are pretty new. One of the guys at a local gun store uses them, and he claims that they kick ass.
The AR10 that I'm building is going to use a PSA10 lower, so I get to use the pmags. That means that I can seat the bullets 0.020" further out than a standard 308 length action would allow. That might be a good thing with bullets that really slip through the air.
I shoot the white tipped 180grain Accubonds in my 50+year old Remington 721 30'06. They shoot REALLY well.
First group I shot at about 75 yards could be covered with a quarter. Accubonds are well worth looking into imo.
http://www.nosler.com/accubond-bullet/
Hairball
I use these too, particularly on my 7 mm magnum. The 7-mag just seems to love them. Accurized Model 70 with a tuned recipe of Accubond 160 grains. Fantastic combo for elk during my Rocky Mt treks. Tack driver with a bulldozer effect on the game. Drops them like a rock.
OK, open solicitation of opinions from experienced fight club firearms owners. I have two Anderson Manufacturing lowers (AR-15, mil spec) and I want to build two more AR platforms. I already have an AR-15 and an M-4. Long time, experienced shooter and firearms enthusiast. I handload so ammo cost isn't really an issue for me.
BUT,
I simply cannot decide what calibers to build. I am thinking at least a 9 mm or 40 S&W flavor for my wife (she is incredibly recoil sensitive, the 223 bothers her!), and the other....
6.5 Grendel, 6.8 SPC, or 7.62x39, or some other flavor? 300 blackout? Opinions please? It sure would help me to break my diddle dallying over trying to make a decision here. Thanks!
For your wife, you could just put a muzzle brake on it. A good muzzle brake will reduce recoil by up to 70%. Next time you take her out shooting, see how tight she is pulling the rifle into her shoulder.
As for the other, it depends on what you want. The 6.5 Grendel is what the 6.8 SPC should have been. It turns an AR15 into a 1000yd gun. 300 Blackout is ~30-30 ballistics at the muzzle, but you can use spitzers. If you want to load 220gr bullets, there are supposedly subsonic loads for it, which means that it is really quiet if you have a suppressor. I haven't checked on 7.62x39 in a while, but it used to be that you could get oodles and oodles of ammo for cheap.
Ya know, I didn't even think of the idea of a muzzle brake. Thanks.
Ropes and study timber. Start collecting it. Sooner or later even idiots, when given enough clues, will figure it out. Talkin' about Muri'cans if you don't know what I mean.
This is how the world ends.
This is how the world ends.
This is how the world ends.
With a whimper, not a bang.
The world is not going to end. Humans will be in trouble. Actually, every organic being. And I am not even contemplating a major war. Just by us keep doing what we’re doing. That alone will be 'more than' enough.
More like ending in a burst of flatulence from bankster's bums. Rich in methane from the glut in the hydrocarbons markets. The idiots have lighters.
And it won't matter how far you are from them physically when they start flicking their Bics; the explosion will flatten everything.
The end of civilization is not the end of the world. As for calibers, I like 556, 300 Black Out and 458 SOCOM.
guillotines, gallows & firin' squads.
Island of misfit shorts.
They wait for the crash that will never come.
I keed I keed.
I will point out that stawks are priced in fiat and fiat means almost literally at will and so at will they can price stawks at whatever they want irrespective of the actual business reality they find themselves in.
Sure it can't go on forever but it can go on longer than you can possibly imagine.
Or it can all end early next year but that's if they say so, only if they say so.
They can not nor do they wish to actually make the real economy better. Unless and until people realize what kind of game is being played on them via stawk maniuplation and that their dollar price means nothing then and only then will anything really change.
It's a deceptive contraption of Rube Goldbergian proportions that they are madly pulling and pushing levers on, twisting and turning knobs on and flipping a dizzingy array of switches on in a orgiastic fury of action, all without a seeming end in sight. All to manage perceptions but alas as they manage those, the real economy grows weary and weak.
All for the good of the order.
Their order is not our order would be the message.
Astounding. Years at it. Year writing about. And some people still can’t get it.
David Stockman: Whatever savings the middle class have left…..
Then, conraddobler: Unless and until people realize
Now, by someone that really knows what is really happening:
By Null Hypothesis (Mark B Cunnington): Economic growth is required to provide more and more resources to the middle class, to prevent them from entering poverty. This economic growth requires ever greater consumption of natural resources, and this works as long as the global economy hasn’t hit resource limits. But now, with Peak Oil, it has hit those limits and it can’t grow any more. Therefore, the middle class is increasingly becoming impoverished. This is not what the Federal Reserve wants, since as you say, poverty and hunger lead to revolts etc. But that’s just the way it is because the world is running out of resources and no central bank can print resources into existence. This is why things are starting to fall apart now and this will only intensify as Peak Oil progresses.
http://markbc.net/doomer-economic-commentary/how-much-more-food-must-the-world-produce/
I guess if not being able to buy the lastest video game or iPad is living in poverty, so be it.
Obviously, old folks need to run out and spend all their money right away.
Obviously not enough "you stupid motherfuckers"!!!
After what you've allowed everywhere else in your name you will be in a FEMA camp before too long with the gold fillings yanked from your greedy fucked up face and probably "be lovin it" beggin for more!!!
Open wide for 'ol Uncle Sammy just a little more!!!
IRS,
The purpose of this communication is to notify the IRS that I am revoking my election to pay income taxes or any other IRS managed collection as of July 1, 20XX. The following identifies both myself and my “account” with the IRS:
samuel-fucking:adams
777-88-9999
I revoke my election to pay income taxes according to the Internal Revenue Code --- 26 USC 6013 (g) (4) (A) Revocation by Taxpayer.
Sincerely,
samuel-fucking:adams
UCC1-308, Without Prejudice
Intrigueing post ghostzapper , care to expand more on that uniform commercial code 1-308
If a W2 fill out a new W4 and do NOT put SSN on it and put "Exempt" in Line 7. The Bankster Collection Agency has trained your employer to be a slave and help with collections so they might not roll over without an explanation.
UCC1-308, Without Prejudice:
I reserve my right not to be compelled to perform under any contract, commercial agreement or bankruptcy that I did not enter knowingly, voluntarily, and intentionally. And furthermore, I do not and will not accept the liability of the compelled benefit of any unrevealed contract or commercial agreement or bankruptcy.”
Good luck with that. Irwin Schiff tried to get those assholes to follow their own laws, and was jailed until he died for his efforts.
I suggest moving your assets into a foundation instead, and pay yourself minimum wage.
So tell me...did you look up the code you just posted?
Are you getting a divorce or pick up some smelly info from a site (nameless) that's not the best at vetting?
BTW, if you're a registered voter...might want to consider rescinding that. It's your consent to A$$ rape.
When semi automatics are outlawed, then only about 100 million people will be outlaws.
Probably the mic's closet wet dream.
Promoses, promises.
What a 'wonderful opportunity' for WW3.
A prophetic statement indeed. When your economy is dependent on the spoils of war, that's fascism. History has shown this time and time again.
Most people I work with think are Catholic President : Barrack Hussein Obama " is the greatest president ever.
I am confident he will fix this, He will tell the Fed what they must do to make our economy robust again. We
know the non partisan fed will thank him for his brilliant recommendations. How Lucky we are to have the smartest
president that ever was elected. Utopia is almost here. If we can have 4 more years of Obama, unemployment will be
less than 1%, and America will be the envy of the world.
Most people I work with think are Catholic President : Barrack Hussein Obama " is the greatest president ever.
"are" Catholic?? WTF??? Have you been sampling the acid and/or NBoMe again Beavis??
he's obviously being sarcastic.
Not Catholic. Protestant Christian.
https://en.wikipedia.org/wiki/Barack_Obama#Religious_views
But I don’t think Obama believes in any of that crap. Can’t blame him.
Like Obama; most do not believe crap they know nothing about. They tend to believe in things like the "goo to you via the zoo". Based on; well nothing.
Not sure what you are trying to say.
So all those stories about a prayer rug at the white house are wrong? i was getting worried there for a while,thanks for clarifying!
It could have been worse if, say, on our popular culture, jesus, after resurrection, came on a flying carpet—magic rug.
And now the muslins are praying on it....for allah.
You and I must work in the same place. O-Bozo is the greatest...He saved the economy.....He saved housing......He saved Ford and GM......He saved us from fighting in illegal wars..... For a second there, I thought Jesus had arrived in the flesh. Wait till they find out he was a clown in a suit.
Yea thats the msm version of history.
The inevitable epic crash and race to gov for salvation is the sci fi i've been reading lately. We'll need new rules and laws of course.
Time will tell which version is right.
IS THE FUCKING SARC TAG NOT WORKING....
or....are you another Million Dollar Booger Eater?
Jeeeeeeeesus tits I need a shower after simply reading that....
What will the hungry and self-defensive governments do? Same thing they always do. They will find ways to steal the wealth, wherever it is, and block the masses from having the ability to defend themselves (from the government). Targets on the horizon: pension funds, bank accounts, property assets, and then direct human slave labor.
Given that LAdy LAgarde has said : 2016 will be miserable; she didn't say for whom the misery will be most.
Well she has her own dose of misery to look forward to : being threatened by an enquiry about "misuse" of power as Economics Minsister to help a local French moneybags --political ally of boss Sarko-- win a court settlement in his favour to resolve a hassle with a govt. Controlled bank.
Now its blowback time as the Appeals court has re-condemned the guy and the private International tribunal who awarded him that decision as "blatant act of corruption" against interests of taxpayer...Lady Largarde will have to explain her role in that shenanigans. This is unusual as normally International tribunal decisions are not subservient to national jurisdictions; which is a point of contention in the US/EU transcontinental deal promoted by Obama.
So 2016 doesn't look good for her. Her second term as IMF chief may even be compromised. If the court finds her complicit of conspiracy to hamper justice.
As for Yellen; we'll have to wait n see.
Should be a year where the CB heads, Yellen, Draghi and Abe may have to eat humble pie...if the recession moves to depression.
it's only after we lose everything that we are free to do anything.
Meh, I have been almost entirely in cash for over a year while steadily stacking Ag/Pb. Let the monkeyhammering begin so my VIX bets payoff...
Fuck the torches and pitch forks . . . . It's time for soldering irons up asses!!
That's a lot of shit to deal with, Dick.
Stick them in a Gitmo/Death Row type Institution with live cameras 24 hours.
Thats why its supposed to be a red hot poker.
Does it hurt ?
Only if you don't wear gloves.
https://www.youtube.com/watch?v=sz2mmM-kN1I
The usual suspects will merely do what they did in '08 and '09, agitate for more gibsmedats.
There won't be any positive change, just more tyranny and ramming it up the asses of the productive
Exceptional Bag holders
The climbing levels of debt collateralization is another fact that David Stockman should have pointed out when talking about the "extend-and-pretend" bullshit going on in high yield. Lenders are finally requiring anything that is not bolted down to be put up as collateral in order to make loans to a lot of the zombie companies, thus forcing subordination on a majority of the existing cap structure.
This truly is like watching a slow-motion train wreck. But make no mistake... a train wreck it will be.
Tick tock, tick tock....
So the bankers (Israelites) end up owning everything. What a fucking surprise. It was planned from the beginning. And their won't be no debt jubilee. All debts will be foreclosed on.
But I'm just a nasty anti-semite, blinded by my hate.
So many economic petards, so many Fed and Wall St. fools sitting on them, trying to light them.
At the risk of being branded a nihilist (I can guess what happens, afterward, and it won't be pretty), but the longer it takes the longer it will be before it's over and we can begin rebuilding after hanging the surviving fools.
The tines on my pitchfork have been sharpened to surgical needle points, and I'm itching to apply tar baths and feather rinses. Dammit, the suspense is killing me. I wish one of these assholes would light the fuse, already!
Great work David,
Read more facts here....
https://www.linkedin.com/pulse/truly-big-shorts-john-m-cunningham?trk=pr...
Obama! We need moar Czars!!!...lmao!
"So believe this. Whatever savings and investments the middle class baby-boomers have left is about to get monkey-hammered good and hard."
That has always been the plan!!
Stockman is for Sunday School ..
Holter is for Adult Bible Class ..
Jack and Jill Got Punched Smack in the Face and Started Both Rolling Down the Hill
Can you imagine how many people could be fed if Janet Yellen were cooked up over a fire and sliced real thin, you know, like deli-style?
Her disgusting beef curtains alone could supply Arby's for a year.
"Investors are lazing around the waterhole like unsuspecting gazelles. This herd will be running for their lives in the near future, as danger is lurking."
I have a 60 something family member who fits the description perfectly. He is long everything in the stock markets, even oil. The Fed generated wealth effect has been very profitable to them. Riding the manipulated markets up to new highs. Spending on vactions, home remodeling, new cars for the 30 somethign kids, trips to Europe, trips to sporting events, all the good things in life. Not a hint of suspecion that the Power That Be are about to loot them blind when the next market profit taking begins. They are lazing in the warm African sun as the Wall Street lions circle.
2007 precursor all over again...
Its the bond market that is far more vulnerable this time around.
Sounds like my in-laws. Sir Greenspan and Saint Bernanke have conditioned them to believe that equity markets will always bounce back within a 'reasonable' timeframe. Must be nice to go through life with that level of certitude.
The Fed prints its own powder. Really, ZH articles aren't what they used to be. (were they ever?)
Do we wonder why there is a new gun bill aimed at semi autos? Are our politicians getting a little nervous? Its getting close people our government is scum, they need to go! We need to block any law that is being made and its seems everyone is asleep at the fucking wheel?