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Finally! Couldn't attent the conference, so glad it's on Youtube!!!
Panic recommended to all of you!
What, me worry?
Hugh Hendry should be worried. He owned a lot of European Soverign CDS in his portfolio
A couple days ago Merkel threatened europe with war if her europroject was not bailed out.
When will the enlightened democracies of europe learn that appeasement does not work with the dark lord of Mordor?
J.R.R. Tolkien warned us about germany in his epic Lord of the Rings. Sadly, few readers are able to understand his true message and can't get past the elves and hobbits.
He has elves and hobbits in the story? I gotta think deeper...
no knuckles, there is no need to think deeper
you might injure yourself
On the contrary: you may injure yourself by not thinking deeper about today's upward explosion in equities, PMs and materials (see XLB for one example), which together may be viewing the 50% greek haircut as the beginning of the end of wasteful government taxing, borrowing and non-productive spending.
My screens say today's upside markets may be abruptly discounting the potential employment and earnings gains that may result from getting government out of the way of a business recovery.
Today's euro bad-greek-debt haircut principles may soon be seen to apply to worldwide legacy debt hangovers in piigs, u.s. and all countries whose bankers and administrators willingly fell victim to decades of unsustainable credit-binge debt-growth economics.
DJIA, SPX and NAZ stock indices heading to 15,000, 1500 and 3000, and metals recovering to AU $2000, AG $50 and Dr. COPPER 4.50, and higher, will confirm the upcoming power of a business recovery freed from decades old tax-borrow-spend government regulatory interference.
Anticipating such a business recovery, in the face of crushing legacy debt and failing top and bottom line business revenues, is certainly a stretch, but discounting is what equity markets do best, if not wisely, but too well.
Are you drunk?
I think Hopium is the new high. In a few months, Hohohopium.
The downer is called NoHopium.
An Indian Tries the Blues
Cut back some on the peyote dosage. Either that or just take a break entirely.
I gave you a +1 for this, but you need to make it clearer that the money to prop up the stock market, PMs and commodities will come from bonds, otherwise people will not understand why it's happening.
e.g. People lose faith in governments, so they shift money out of bonds and into private assets (especially gold, silver and the stock market).
If the governments can arbitrarily cut your bond value in half, and you can't insure it with CDS, you're going to want to put it somewhere they can't touch it.
Neoliberalism has failed even to come close to, let alone achieve, thegrowth rates of the golden age of Keynesianism in the 1960s (Harvey 2006).
"which raisesa serious question about how it has maintained legitimacy in theface of its own failed raison d’être – to ensure wealth for all throughmarket efficiency.
Thus it is pertinent to consider the core contradictionunderpinning the seeming collapse of neoliberalism:
theextent to which the current crisis is tied to the very foundations onwhich neoliberalism was built,
namely the expansion of financecapital and the associated housing and stock market booms ofthe 1990s and 2000s."
"There is a terrible irony in the fact that neoliberal policies ofprivatization, marketization and liberalization over the last 30+years.
have produced proceeds with a monetary value (€1.3 trillion)that is only twice the recent bank bail-outs by the US and Europeangovernments (see Hall 2008: 6)."
"Who then benefited from this economic order?
We canpoint fingers at the bankers, as government have found it politicallyexpedient to do, but
we have also to acknowledge that thefinancialization of the global economy has gone hand in hand withproperty booms that have effectively enrolled citizens in theexpansion of neoliberalism –
a windfall largely limited to citizens inthe Global North, it must be stressed.
For example, MatthewWatson (2008) argues that as individuals have been incorporatedinto the British housing market, which was (and still is) dependentupon ever-increasing house prices, they have been remade politicallyas ‘monetary conservatives’, (TEA PARTY) more concerned with inflation thanwelfare spending. More generally, Stuart Hall (2003: 10) argues that‘a new neoliberal common-sense’ has ‘colonized’ civil society."
"What is evident in this mess is that the conceit at the heart ofneoliberal thought has been exposed.
The very idea that markets areself-organizing, efficient and liberating is no longer credible, butillustrates the extent to which neoliberalism
– as shorthand formarket-like rule –
is an economic, political and ideological projectpursued by certain groups (such as governments and corporations)
to construct a reality that is perceived to be founded in the inherentproperties of economic markets.
This circular reasoning hasreplaced any sense of what we ought to do to achieve democraticgoals and ambitions with a logic built on the perception of theinherently good and essential qualities of markets.
Thus moralityand ethics have been turned right way up in response to the ‘naturallaw’ of economic exchange in which the rich can buy more freedomthan the poor."
I have to disagree with you.
And so do I.
And me too!
You've really hit the nail on the head there Akak!
We concur as well.
I think that settles the issue.
I do not always agree with you but no one can doubt your entertainment value. I will drink beer with you and buy!
Thanks for the thumbs-up CY!
I does what I cans.
So do I!
me too silver
New theory man... memory foam
Blood in the streets in the town of New Haven
That's just how he rolls.
Speaking of rolling as the article says, 'After today's ridiculous move in the market' one can surely say it was to burn shorts. Still 100% Cash.
Patience is a good thing in crooked markets. About 15 years ago I took a free 2 day class about markets and how stocks work and why.
Actually they wanted to sell me their stuff. Did not buy. But they did offer some great fundamentals that are almost certain.
They taught stuff like principals, one being that the market will cause as much pain and take as much money as it can.
Another thing they taught was how to not be caught in a market trap. It focused on "Gaps". They said that almost all the time the market
will return to the level where a "Gap" is and it is a good way to protect yourself and use them for opportunities.
Well today, I ask, did the market burn any shorts and cause any pain? And in the ramp up, how many stocks were gapped up?
That is why, as tempting as it was I bought shit from Goldman's HFT machines ramp job. Almost every stock that I would consider buying was
gapped up. To me, from that class years ago, this market will cover all those gaps.
Heed the warning that the market on a day like this is a fools rally if your sucked in to the sucking sound of the Squid, Goldman Sachs.
on video 2 :
real estate is not THE ONE market return on China's books
agree. french door refrigerator
"As for any inner meaning or 'message', it has in the intention of the author none. It is neither allegorical nor topical. [...] The real war does not resemble the legendary war in its process or its conclusion. If it had inspired or directed the development of the legend, then certainly the Ring would have been seized and used against Sauron; he would not have been annihilated but enslaved, and Barad-dûr would not have been destroyed but occupied. Saruman, failing to get possession of the Ring, would in the confusion and treacheries of the time have found in Mordor the missing links in his own researches into Ring-lore, and before long he would have made a Great Ring of his own with which to challenge the self-styled Ruler of Middle-earth. In that conflict both sides would have held hobbits in hatred and contempt: they would not long have survived even as slaves."
- J.R.R. Tolkien, Foreword to The Lord of the Rings, second edition
I had this precise passage in mind when I read that silly tripe from the caveman above. What's funny is I've seen Ax go after both Jews and the Germans. Lol. Tolkein's forward is so spot on it's amazing. Hobbit genocide/ (debt) enslavement would have definitely been discussed at the council of Elrond lol.
That is an amazing capture of information from J.R.R.T.
fully agree... electric fireplace
Hobbits are the 99%.
But the germans build such cool cars.
Talking about allegories, I once bought a BMW which had tires made in Israel.
Did you hear about the new Israeli tires called Firestein's?
They stop on a dime and pick it up!
What's the diffrence between a cactus and a BMW?
A cactus has its pricks on the outside!
The Jews have two things going for them: they are thrifty and there's Genesis 12. Yes, I have some Cohen a few generations back!
why cant they keep Jews in jail?
They eat lox
And for all the latent and patent anti-semites on the board, feel free to substitute "Wall Street Bankers" for "Jews"
and great quality too walk in freezer
I want to get invaded by big breasted beer garden maidens.
I'll have what you're having.
You mean like my wife?
Amazing that idiots junked you.
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