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David Rosenberg On The Depression, The ECB, MF Global As A Canary In The Coalmine... All With A Surprise Ending
Consuelo Mack has just released a long overdue interview with David Rosenberg, in which the former Merrill strategist is allowed to speak for 27 whole minutes without commercial interruptions of manic depressive momentum chasers cutting off his every sentence, demanding he tell them what stocks he is buying right this second! In addition to the traditional now discussion of America's depression (see attached extended walkthru by Rosie), probably the more interesting part in the interview starts at minute 11 when the conversation shifts to MF Global which to Rosie is a canary in the coalmine, and is merely the 2011 version of Bear Stearns as there is "never just one cockroach." Then the Q&A shifts to Europe, the ECB's next steps and the future of the Eurozone and Germany in particular. Mack concludes with some thoughts on what bond rates indicate about the future of the word, how the 7% output gap as a % of GDP will drive deflation (although in a vacuum: there is little accounting for the Fed's and global central bank kneejerk reaction), and how the corporation is now more powerful than the sovereign, courtesy of more pristine corporate balance sheets than those of actual countries, all of which are on the verge. Will the IBM Stellar Sphere, the Microsoft Galaxy, Planet Starbucks take over when Europe and the US finally tumble? Oh, and like a good M. Night Shyamalan movie, there is a surprising twist ending.
And the associated pdf for those who wish to learn more.
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I think you will find that it was both...
Teddy finally rests with Mary Jo.
Well, maybe not...
You want to know how deep the child sex swapping underworld goes...?...
Not really.
But now that you've brought it up, I must say there are very few more deviant behaviors that should be eradicated from "civilized" conduct than the presexualization of humans, particularly in the "same sex" variation.
There is NOTHING glamorous in watching / learning of an innocent being victimized by an "authority" figure. There is equally nothing glamorous is watching through the lens of time lapse "photography" the effects of this perverse initiation rite on innocents resulting in the most brutal adaptation to amoral conscientiousness imaginable.
Now, back to your regularly scheduled programming...
...Unless your prefer to
Seek Justice
Love Mercy
Walk Humbly.
imo.
the effects of this perverse initiation rite on innocents resulting in the most brutal adaptation
and then there is timmy geithner
Keep fighting and getting the info out there. The Oligarchy and anybody else who does this must pay for their sins.
All part of the grapes ripening, for the next doom on will really be doom on:
1 Behold, the LORD maketh the earth empty, and maketh it waste, and turneth it upside down, and scattereth abroad the inhabitants thereof. 2 And it shall be, as with the people, so with the priest; as with the servant, so with his master; as with the maid, so with her mistress; as with the buyer, so with the seller; as with the lender, so with the borrower; as with the taker of usury, so with the giver of usury to him. 3 The land shall be utterly emptied, and utterly spoiled: for the LORD hath spoken this word. 4 The earth mourneth and fadeth away, the world languisheth and fadeth away, the haughty people of the earth do languish. 5 The earth also is defiled under the inhabitants thereof; because they have transgressed the laws, changed the ordinance, broken the everlasting covenant. 6 Therefore hath the curse devoured the earth, and they that dwell therein are desolate: therefore the inhabitants of the earth are burned, and few men left.
Isaiah 24
King James Version
truly scary stuff ----
Fiftybagger is absolutely correct:
The covenant was broken when the Faith of Abraham, which Yah (God to the Gentiles) was replaced with false doctrine after Rome sack Jerusalem. I'm still learning these things. But it's all there, and all true.
Yah told the Isrealites, do not worship other Gods, do not worship false idols or false doctrine, keep my commandments. Old Testament. For Yah brought Isreal out of bondage...that's Isreal the people, not the country so many think of when the name Isreal is mentioned. Has nothing to do with the current population of Isreal.. Isreal are the descendants of Jacob, whom Yah named Isreal...who was of Isaac, who was of Abraham.
We no longer honour Yah and his Commandments. We instead, honour holidays like Christmas and Easter and such...which, in my opinion, were all created simply for profit by those in charge, the same as are in charge today...modern day Romans. We live by OUR OWN laws, or lack thereof... We place honor/faith and worship in crap like politicians, moviestars and the like, worship things like iPhones and other material crap, especially money...All the while, a VERY select few, not including myself as of yet, honor Yah's HOLY days.. as were intended in the Scriptures. Those are the true people of Yah...the true people of The Faith of Abraham.
Luke 8:17 (For nothing is secret, that shall not be made manifest; neither any thing hid, that shall not be known and come abroad.) We are living this right now. MFGlobal, the Penn State thing and so many other things that have come and are yet to come...blatent lies, falsehoods, sin...period. Things that no man will ever do anthing about...
Saturday IS the true Sabbath...as the Hebraic calendar was to be what Yah intended us to live by. Not the Gregorian, that the Romans put into play. If you look at Creation Week, "and in the evening and the morning were the first day..." along with the Lunar phases, you will see that from Friday evening, after sundown, until Saturday after sundown, is the true Sabbath. And when does most of humanity go to church??? What holidays to most of humanity celebrate??? We've been duped, folks. Best to get your house straight...as the Lord of Lords, King of Kings told us to do. We've gotten so far away from Yah and his principles, the LAW, if you will...that we are reaping what we've sown. Go back and re-read the Scriptures that Fiftybagger posted. You cannot serve two masters.
Again, I'm still learning...so take it for what you will. However, I suggest looking into it.
Fiftybagger has it exactly right in posting those scriptures...this is exactly where we are headed. Not only in the US, but everywhere. The US just has farther to fall than other countries, because we "think we're all that"...for lack of a better term. Gold, Silver...your awesome skills at gaming the market...NONE of it will save you. In fact, it shows whom/what you put forth as important in your life, before The Father.
There is only ONE that will listen, and may or may not have mercy on you. I suggest you figure it out, instead of bashing, blaming, predicting, self fulfilling or simply thinking that you've got all the answers or are the beez kneez... and that Yah (God) is some sort of fairytale. Not saying that all on here do, but a lot surely do...and it's wrong to do so.
"Religion" is a fairytale...but Yah, the Spirit, is very real as you and I will soon find out.
I have tried and continue to press forward in understanding, and turning away from the things of this earth, and though I still struggle day to day, my life has never been more peaceful. Because this struggle I've chosen to undertake, is the only worthwhile fight to be involved in. Laugh if you want, bash if you want...but know that you only have one soul.
You think it's bad now? Just wait. You'll see things "come abroad" that will make your head spin...
Be well.
btw...don't bother with bashing over spelling and such. I'm uneducated and don't want to deal with you, anyway.
thanks Fiftybagger for putting those Scriptures up there and giving me the fire I needed to post.
"You want to know...?"
No need for a reminder. We're human. Move on.
um, condoning pedophelia is to be human...?
Sandusky, is that you?
Sandusky, OH is a nice town
pity that
No Jo.
I haven't condoned anything. I just answered the question with far less eloquence than Boxed Merlot.(Whose post I didn't see before submitting my own. Sorry B.M.)
I wasn't interested in hearing about pedophilia, or any of the other things on a long list of 'inhuman' acts 'humans'("we") are capable of.
People seem to be reading far more into my post than is written.
Shame, really...
DavidPierre
You missed a couple
Pete Townshend was given THREE DAYS davanced warning before police examined his computers for Kiddie porn.
Isaac Asimivs son
http://www.newsmakingnews.com/asimov3,29,01.htm
HOW DAVID ASIMOV, THE BIGGEST CHILD PORN PROCESSOR IN CALIFORNIA SKATED AWAY FROM FEDERAL PRISON WITH A LITTLE HELP FROM HIS FRIENDS
David Asimov, of Living Oak Court, Bennett Ridge, Santa Rosa, the son of the late science fiction writer Isaac Asimov, was sentenced on March 28, 2001 to six months' home detention with electronic monitoring and three years federal probation for possessing child pornography. U.S. District Court Judge Maxine M. Chesney sentenced Asimov after reviewing a series of sealed psychiatric reports, one of which was ordered by the court. Asimov who was charged with four federal counts of possession of child pornography with each count carrying a five year sentence, pled guilty to two counts in a plea bargain deal. There was no forfeiture of any of Asimov's assets in this case, despite his owning a home in Santa Rosa purchased in 1996 for $375,000, and despite his receiving $3,000 per month from his father's estate.
How did Asimov, who possessed one of the largest stashes of pornography in California, skate away from federal prison?
https://secure.wikimedia.org/wikipedia/en/wiki/DynCorp
Employee involvement in child sex slave trafficIn the late 1990s, according to whistleblower Ben Johnston, a former aircraft mechanic who worked for the company in Bosnia and Herzegovina, DynCorp employees and supervisors engaged in sex with 12 to 15 year old children, and sold them to each other as slaves.[24] Ben Johnston ended up fired, and later forced into protective custody. According to Johnston, none of the girls were from Bosnia and Herzegovina itself, but were kidnapped by DynCorp employees from Russia, Romania and other places.
On June 2, 2000, members of the 48th Military Police Detachment conducted a sting on the DynCorp hangar at Comanche Base Camp, one of two U.S. bases in Bosnia and Herzegovina, and all DynCorp personnel were detained for questioning. CID spent several weeks working the investigation and the results appear to support Johnston's allegations. For example, according to DynCorp employee Kevin Werner's sworn statement to CID, "during my last six months I have come to know a man we call 'Debeli,' which is Croatian for fat boy. He is the operator of a nightclub by the name of Harley's that offers prostitution. Women are sold hourly, nightly or permanently."[25]
Johnston is not the only DynCorp employee to blow the whistle and sue the billion-dollar government contractor. Kathryn Bolkovac, a U.N. International Police Force monitor hired by the U.S. company on another U.N.-related contract, filed a lawsuit in Great Britain against DynCorp for unfair dismissal due to a protected disclosure (whistleblowing), and on 2 August 2002 the tribunal unanimously found in her favor.[26] DynCorp had a $15 million contract to hire and train police officers for duty in Bosnia and Herzegovina at the time she reported such officers were paying for prostitutes and participating in sex-trafficking.[27] Many of these were forced to resign under suspicion of illegal activity, but none have been prosecuted, as they also enjoy immunity from prosecution in Bosnia and Herzegovina. Bolkovac's story was made into a film, The Whistleblower, in 2010. She has also co-authored a 2011 book with Cari Lynn titled The Whistleblower: Sex Trafficking, Military Contractors And One Woman's Fight For Justice.
DynCorp has admitted it fired five employees for similar illegal activities prior to Johnston's charges.[28] In the summer of 2005, the United States Defense department drafted a proposal to prohibit defense contractor involvement in human trafficking for forced prostitution and labor. Several defense contractors, among others DynCorp, stalled the establishment of a final proposal that would formally prohibit defense contractor involvement in these activities.[29]
[edit] Dancing boy incidentOne of the US embassy cables released by WikiLeaks[30][31][32] said that DynCorp workers who were employed to train Afghan policemen took drugs and paid for young "dancing boys" (child prostitutes) to entertain them in Kunduz. The cable stated that the Afghan interior minister at the time, Hanif Atmar asked the assistant US ambassador to try and "quash" both the story and release of video from the incident. The story was eventually published by The Washington Post in July 2009[33] and downplayed the incident, calling it a "questionable management oversight" when it was in fact being discussed at the highest levels of the Afghan government. According to The Guardian, the incident was influential in causing the Afghans to demand that private security companies were more strictly controlled by governments,[34] although the leaked diplomatic cable states that "placing military officers to oversee contractor operations at RTCs [i.e., DynCorp Regional Training Centers] is not legally possible under the current DynCorp contract."
At the time of the leaked cable's writing, an investigation was on-going and disciplinary actions had been taken against DynCorp leaders in Afghanistan. An investigation by Afghanistan's Ministry of Interior (MOI) resulted in the arrest of two Afghan police and nine other Afghans for the crime of "purchasing a service from a child." The United States' Assistant Ambassador to Afghanistan cautioned that an overreaction by the Afghan government would "only increase chances for the greater publicity the MOI is trying to forestall."[30]
According to employees who spoke anonymously for fear of retribution, four senior managers were sacked as a result of this and other incidents in Afghanistan.[33] The State Department was reportedly investigating whether DynCorp had ignored signs of drug abuse among employees in Afghanistan. According to the State Department Inspector General, a "substantially completed" review specifically pertaining to the dancing boy incident had uncovered no criminal activity. Following government investigations into its programs in Afghanistan and other conflict zones, DynCorp was reported to be strengthening its ethics practices, and had created a chief compliance officer position whose focus included ethics, business conduct, and regulatory compliance.[33]
http://www.thenation.com/article/blackwater-founder-implicated-murder
http://aconstantineblacklist.blogspot.com/2009/08/blackwater-used-child-...
New disturbing charges have emerged against XE, the infamous private security firm formerly known as Blackwater Worldwide, whose operations came under spotlight after its 2007 carnage in Baghdad.
According to a report by MSNBC and based on alleged sworn declarations by two Blackwater employees in federal court, the firm used child prostitutes at its compound in Baghdad's fortified Green Zone.
The declarations added Iraqi minors got involve in sexual acts with Blackwater members in exchange for one dollar, and Erik Prince, the firm's owner, "failed to stop the ongoing use of prostitutes, including child prostitutes, by his men."
Based on other statements, the firm was involved in another sex scandal; "Prince's North Carolina operations had an ongoing wife-swapping and sex ring, which was participated in by many of Mr. Prince's top executives."
http://facts.randomhistory.com/human-trafficking-facts.html
The Western presence in Kosovo, such as NATO troops and civilians, have fueled the rapid growth of sex trafficking and forced prostitution. Amnesty International has reported that NATO soldiers, UN police, and Western aid workers “operated with near impunity in exploiting the victims of the sex traffickers.”g
http://news.bbc.co.uk/2/hi/europe/3686173.stm
The presence of peacekeepers in Kosovo is fuelling the sexual exploitation of women and encouraging trafficking, according to Amnesty International.
It claims UN and Nato troops in the region are using the trafficked women and girls for sex and some have been involved in trafficking itself.
Amnesty says girls as young as 11 from eastern European countries are being sold into the sex slavery.
Wow Gully. Nuts. totally nuts. ugh!
We truely live in a world gone mad. All this surface normalcy is just a screen.
Crazy world.
ORI
Well done Gully,
lets not forget the muslim savages that europe has filled up on...
http://www.dailymail.co.uk/news/article-2003499/Asian-gang-ran-year-chil...
google 'asian gang rape' and the list is endless.
Muslim savages. that is rich.
I suppose a white savage can feel and therefore say such things.
ORI
" the zoo is being run from the anaconda cage." earl caldwell
.
Penn. DA who passed on initial sex abuse charges against former Penn State coach Jerry Sandusky disappeared in '05
Read more: http://www.nydailynews.com/sports/i-team/penn-da-passed-initial-sex-abus...
Penn State sex scandal deepens into a mystery
BY Christian Red
NEW YORK DAILY NEWS
Tuesday, November 8 2011, 10:32 PM
Read more: http://www.nydailynews.com/sports/i-team/penn-da-passed-initial-sex-abus...
http://www.nydailynews.com/sports/i-team/penn-da-passed-initial-sex-abus...
.
..."There is only a brief mention of the decision not to file criminal charges against Jerry Sandusky in 1998 in the 23-page grand jury report released Saturday in the ongoing Penn State University sex scandal.
After university police conducted an investigation 13 years ago into allegations of sexual misconduct by Sandusky— the former PSU football defensive coordinator at the center of the firestorm involving the sexual abuse of eight boys over 15 years — the case was ultimately closed when then Centre County district attorney Ray Gricar “decided there would be no criminal charges,” as the current grand jury report states.
The case involved alleged inappropriate touching of two victims by Sandusky as they were showering.
But what unfolded in Gricar’s life since that 1998 matter sounds like something out of “The Da Vinci Code.”
FORMER PENN ST. ASSISTANT JERRY SANDUSKY ARRESTED IN CHILD SEX CASE
GRAND JURY REPORT ON JERRY SANDUSKY CASE
WEISS: JOE PATERNO SHOULD HAVE SOUNDED ALARM
LUPICA: PATERNO AT CENTER OF UNHOLY MESS
Months before he was to retire in 2005, Gricar literally vanished. He had decided to take April 15, 2005 off from work and called his live-in girlfriend, Patricia Fornicola, to tell her he was driving to Lewisburg, Pa., to go antique shopping — about 50 miles from their Bellefonte home. He was never heard from or seen again.
"
..
say what?
"So, where is all this headed? I’ll let The Economist have the last word. This is from an article by Ryan Avent in the current issue titled “Finito?”:
“I have been examining and re-examining the situation, trying to find the potential happy ending. It isn’t there. The euro zone is in a death spiral. Markets are abandoning the periphery, including Italy, which is the world’s eighth largest economy and third largest bond market. This is triggering margin calls and leading banks to pull credit from the European market. This, in turn, is damaging the European economy, which is already being squeezed by the austerity programmes adopted in every large euro-zone economy. A weakening economy will damage revenues, undermining efforts at fiscal consolidation, further driving away investors and potentially triggering more austerity. The cycle will continue until something breaks. Eventually, one economy or another will face a true bank run and severe capital flight and will be forced to adopt capital controls. At that point, it will effectively be out of the euro area. What happens next isn’t clear, but it’s unlikely to be pretty.” (“Finito?, The Economist). The chances of the eurozone surviving in its present form are slim to none."
http://www.counterpunch.org/2011/11/11/europes-crash-landing/
He's wrong.
He's wrong the same way Rosenberg has been wrong. Through no real "fault" of his own.
He's wrong because he has ignored the primary lesson of the new normal: Governments don't give a shit about anything but keeping the wheels turning. If the only way to keep them turning is to change mathematics by decree, then that is what they will do.
If the only way is to steal 1/2 the money from a bond holder and then threaten him with loss of business license if he dares declare it involuntary, then they will steal and threaten. If the only way is to get a UN mandate that authorizes "protecting civilians" and then go out and bomb the shit out of purely defensive positions that threaten no civilians, then that is what they will do.
This is not a world anymore that lends itself to analysis. This is a world where governments will decree financial truth. If a mortgage is not being paid, and the mortgage being declared in default will threaten the status quo, then that mortgage will not be valued as in default. It will be valued as receiving payments on time every month . . . for two and 1/2 fucking years now.
Forget too very much analysis. Governments will change any result they want by decree.
There is one thing and only one thing they can't decree. Oil extraction. That is the endpoint to the game.
"There is one thing and only one thing they can't decree. Oil extraction. That is the endpoint to the game."
Assuming that "Peak Oil" even exists: They can overturn every rock on earth (using whatever kind or amount of force) looking for oil. They can relax every environmental standard. They can enforce much higher levels of "conservation".
In short even this endpoint can be postponed for quite some time.
yea but-----they need a lot of it to fight the wars
Two words: biological weapons.
Partially wrong. It is about the cost to get the oil. Put 2 + 2 together here. A system that is debt saturated (fiat end game) coupled with oil that is getting more difficult to find, extract and refine (peak oil). Some degree of can kicking can be achieved, but not much. Most of what will happen to buy time is from the demand destruction resulting from higher prices. But, the demand destruction feeds the deflationary economic feedback loop - which hastens the process at the same time. The math of exponents does really yield to much more time when you approach vertical. What amazes people though is that the timeframes are quite long relative to our lifespans... so we think in terms of what happens tomorrow. "Tomorrow" in context of the cycles that are at play can be years at least.
Man's existence is one giant kick of the can, particularly in the nuclear age. The problems of "peak oil" can be stretched out for a long time relative to the human lifespan. How long until controlled fusion is achieved? 100 years? Can humanity make it that far?
The 'can' can be kicked a long time. And it will be kicked by any means necessary.
How do we "grow" economically without a corresponding level of energy growth? Efficiency won't do it: see Jevons Paradox. There could always be something that we don't quite understand now that takes the place of FFs - like nuclear fusion. That's called magical thinking.
Our current system doesn't grind to a halt when there's no more FFs, it's grinds to a halt when we can't expand energy use at 3%+ every year, doubling consumption and the size of our economy every 20 years or so.
I can't see the future, but the present looks a lot like we're reaching limits, and we CAN'T HAVE LIMITS and continue like we have for the past 200 years.
And the kicker is that the entire system we live within is built on constant, exponential growth. I just dont understand how people fail to see basic math at play here.
Well, I take that back. Most folks dont get math so well once you get outside of basic addition and subtraction! The word asymptote is a waste of time.
Anyhow, all it takes is for growth to stop... or even just slow down... and the system goes belly up. It is just that simple. We are in the middle of a slow-motion train wreck. And there is nothing that is going to stop it because we are up against real-world, physical limits.
Good comment stream. This is truly the meat of the matter. Everything else is secondary.
Actually, the "meat of the matter" is that private, for profit, FAMILIES print money and loan it at interest to GOVERNMENTS ("taxpayers" and other sheep). Once enough sheep wake up and realise what is being perpetrated upon them I am curious to see what will happen.
SR,
Our geniuses have to either increase output per labor unit or output per energy unit. The former is the current strategy, but is running out of steam. As for the latter, there are probably only a handful of people who can help. So cut their taxes and raise them for the rest of us.
Nuclear fusion exists in nature, and we can recreate it. We can't control it, yet. Who saw nuclear physics or the H-bomb in 1850? Will we control it in 100 years? It's possible, not magical.
We aren't continuing like the last 200 years. Population control through birth control has radically changed the game. Population growth now occurs, not through excessive births, but through people living longer. At some point in the next 50 years population will start to shrink. Then Malthusians will need a new hobby horse to ride.
I agree that TPTB will do everything they possibly and criminally can to keep the ponzi scheme going. We've already seen to what extreme lengths they are willing to screw the people to serve the banksters. But we've also seen the law of diminishing returns with respect to those lengths. The clock is obviously ticking on TPTB's capabilities to 'decree' financial truth.
You get my main point. TPTB will want to resort to criminality, but it is unnecessary.
When you look at obvious waste: the power grid, unnecessary and inefficient transportation, not collecting solar and hydroelectric power, you realize that non-punitive conservation can allow the can to be kicked a good long time.
Didn't Rosenberg strongly object to ZH using his propriety materials at one point?
Like in a legal way....
Like "hey you Zheeple cannot use my material unless you pay my greedy fat azz. I want to make lotsa fiat so I can buy some overpriced Toronto distressed CMBS!".
What's up with that?
Just trying to connect the dots.
speaking of bitching about using material, that guy at the privateer is like that. i know for a fact. i am surprised he allows zh to use his stuff ................
many many cockroaches
not enough shoes.
Good thing Rosie is just a "talker" and not a real trader.
He would probably be way underwater.
As the current stock market is probably the strongest I've ever seen with such bad news flow.
And things are about to get better, as 6 months from now, Europe's problems will have been forgotten and looked back as another major buying opportunity.
Sure, things will get better in Europe because we default as your banks figuring out that they hold worthless paper. Thanks America for the free money.
Not everyone has the power to pretend they didn't own shit that went down the toilet like you do, Robo.
The current stock market is not strong. Wide price action and absolutely no strength in volume. Conviction is lacking in a very big way and this is not just reflected in our market but in all world markets. Most retail investors are totally absent and it is because of the bad news flow and uncertainty.
BTW six months is not going to solve Europe, just as the last six months didn't solve Europe. IMO the dollar will continue to strengthen and the markets globally will weaken. I think what you're missing is in the credit markets and it is speaking loud and clear that the ever increasing debt is going to overwhelm eventually. More AAA rating downgrades will be coming and a further downgrade(s) of the US debt is very possible if not likely. We are now at 100% debt to gdp ratio and rising. The dollar will strengthen until the final AAA rating agency downgrade. At that point a collapse of the markets is certain because of the rise in rates that will overwhelm the US's ability to service the debt.
The presidential race is going to become very important next year. An Obama victory will insure that Obamacare stands in some form and much higher taxes are then a certainty. I will be very surprised if the US economy does not go into a recession next year as a result of the new health care initiatives and the slowdown(austerity)/recession in Europe.
So it looks to me like I'm on the other side of your trade and that's what makes a market.
The sun'll come out, tomorrow! Bet your bottom dollar that tomorrow - there'll be sun!
http://youtu.be/Yop62wQH498
And by the way, all the gold bugs better hope that Rosie is wrong.
Because if the world is indeed going to collapse, gold is going down with it.
Just like Tanzanian Royalty Exploration.
Ahhhh Robo. It'll never go to zero and I suppose those CB gold bugs of today are going to get rid of their fresh shiny bars, now that you,ve spotted the flaw in their born again buggishness?
I'm calling my dealer today to offload before they do. Thanks for the heads-up.
you are scaring me robo. quit talking like that.........
When all you got is a trader, all problems are continuously framed as buy/sell.
he lives with his mommie........you know..........
He promised to call me later after he washed her hair.
This time around, it'll be her killing him in the shower.
Psycho: shower scene
I thought we were supposed to hope for netflix and lulu and linked-in success or we would get boils on our skin or something. Robo needs to stay on message.
Robo keeps trying to tell us we had better be a support bra but he keeps trying to make us a bananna hammock for a weirdo that fucks diahrea asses.
Robo, Tanzanian was up 23% in just one day, today. It is all timing bud, if you bought it three months ago, then you are still in the hole, but if you bought it yesterday, then you made 23% in one day and smoked the shit out of any fucking professional traders. Oh yeah Robo, the world did collapse in the Great Depression, but deflationists are not smart enuf to go back and see how Gold miners did during the depression. Here is a clue, mining stock owners got filthy stinking rich. Smarten up Robo.
Great Depression, but deflationists are not smart enuf to go back and see how Gold miners did during the depression.
************
This deflationist looked back and seen what gold did-but the price of it only moved because of government meddling-
It moved huge if you weigh it against the CPI and in this deflation it will perform exceptionally well again-
The price of gold means very little-same for the amount of dollars one holds-its always about buying power- especially during a money shortage like we have today-
So true. Looks like miners are tracking pretty similarly to that path right now.
Sweety, you will consider going in bed with me as huge counter party risk. But what counter party risk do you take, when going in bed with gold? Think again.
Hey ROBO. You have the, the EGO of James -T-Kirk ! Your calls are really getting old. I trade currency for a living, and am well traveled. That 100 laps around Perris ( Ca.) was sheer Bull Shit! Been there done that! Ass Wipe!
Still not able to tell the difference between paper and physical, even after all the paper gold and silver held by MF Global was confiscated, while those who own physical still have theirs?
Par for the course, if infinite is a par. You keep dropin' em in the water hazard there, numbnuts.
If you believe that fiat, as it is today, will survive a world collapse, then you are probably right.
I'm betting against fiat. I believe it will be a, if not the, root cause that destroys the current system. given what I've seen to this point, seems a far safer bet.
Good luck to you.
The future seems to be trying not to trip inside a room covered in knives. Oh yeah the lights keep going out and there are baby crocodiles in your shorts.
It could work.
Depressing that despite all the huge disasters happening in the global and US economy that nobody is talking solutions. Just patch jobs and can kicking. Interesting that nobody is really thinking outside the box. No visionaries, no charismatic leaders, no dynamic game-changers.
That's because the leadership just wants to hang on to what it's got. And that's where it ends. There's no thinking about building a better future. Just saying it even sounds preposterous in these times. It's a shrinking pie and a few people have grabbed the lion's share, leaving the rest to fight over what's left.
Get prepared for austerity.
Because there aren't any fucking solutions. All good solutions are more painful than whatever problems they are designed to solve. And no one, no one, is really ready to accept paying the price of implementing a solution. No the government, not the so-called leaders, not the majority of the taxpayers or voters, not the greedy bankers ...
Our global Amygdala will always push us toward the option with the most short-term reward or the least short-term pain. And there are is no rationalizing decision makers to reverse those choices.
Which leaves only one way of solving the disasters you speak of; nature's way.
There are always solutions. We solved our way out of past financial crises. Each time involved new thinking analysis and problem solving.
There is one and only one solution.
There needs to be a super giant oil field the size of Ghawar down 4000 feet in central Arkansas. Oil, not natural gas, and crude oil, not natural gas liquids.
If it's there, we have a solution.
If it's not there, you die soon. So do I.
All solutions have brought us to this point. Perhaps we did not solve the problems of the past very well since now they are the problems of the future.
"how the corporation is now more powerful than the sovereign"
According to the Supreme Court of the U.S. corporations are people. Except unlike people, they are immortal, and consume more resources, and capital than most sovereign nation. Oh--and they never sleep.
They've become an entity, by definition, which you cannot kill--so they just become more powerful. And now their power has eclipse nation-states.
Thank-you Supreme Court for letting coporate market share, territorize us into simulcran kingdoms.
We are all serfs to them now.
Soon we'll all pick up arms to fight for our corporation against their corporation. It will be noble to die for United Technologies.
Ther was a movie with the same plot years ago... What was the name, hmm.
WWII?
$ - dollars - Jane fonda and James Dean try to manipulate currency trading only to find out too late its alreay a rigged market. ends like fight club with skyscrapers exploding and dean martin pissing on a wall while singing as a new day reddens the night sky with the birth of a new dawn.
Siskel gave it 1/2 a thumbs up and 3/4 of a donut.
Ebert just sat in his chair twitching and calling out for his mommy.
This trend has been in the making since the dutch invented the V.O.C. company model (the first globally operating corporation).
The issue here is, that what's good for corporations diverges more strongly now from what is good for actual people (households), Rosenberg is betting on te corporations to come out of this, reigning supreme. He's however reasoning from the assumption that the present will continue. He's not alone in that idea. Everything points towards a corporation dominated world (not just economical). However, since an unhindered growth based on finite resources is impossible, there will be a race, who wins the game first, and gets the South American, African, Indonesian, and Polar resources. The joker in the game is of course technology: quantum research and nano-tech can and will change it all.
(I see a bright future for silver especially in this regard.)
Of course this can go wrong, it looks like it already has gone wrong. "Wrong" as in that there's a disconnect between the needs of actual human beings, and corporations. And before we're completely dominated by AI's, people make the descisions.
Again I see we're on a crossroads of sorts: where a paradigm of 20th century society is clashing with corporate interests, and that this cannot be continued. This is a divergance from the last 60 years of development, it's the end of the consumer society model. I'm actually looking at "the markets" as a last bastion of "interests of the individual". In case these corporations get it wrong (which happens continuously), and there's a cultural realisation of this clash of interests (which is happening as well) there might be a different outcome.
Seismic changes in technology are coming. Will these be attainable for all? I highly doubt that this, and the corresponding reproduction spurt is supposed to happen. Something will have to give, in the next.. say, 5 years. After that, it's going to be all different again.
The US and all the states ARE CORPORTATIONS.
"They've become an entity, by definition, which you cannot kill..they are immortal..."
Not so. Remember Lehmans, Bear Stearns, MF Global??? Indeed remember Goldmans, JPM and BoA went bankrupt in 2008 too.
All things come to an end. How much of a drain the unproductive parasitical zombie corporations (eg. Goldmans, JPM, GE etc) depends on how long their prop/nanny and protection racket, Govt, survives
"Thank-you Supreme Court for letting coporate market share, territorize us.."
Corporations don't really terrorise us, except for the Military-Industrial Complex maybe. They are an economic drain.
Regards being the Supreme Courts fault this is yet another monopoly crony wing of Govt. Kill Govt and you kill nearly every problem we have in both society and the economy. The easiest way to do that is stop funding/sponsoring it. Pay No Taxes
Zero Tax = Zero Govt = Zero Problems
So much money to prop up something that will never correct itself. Solving a debt crisis with more debt? Honestly, I never paid attention until one day I woke up and asked myself, What are my kids going to do? Kicking the can down the road will end in destruction. When Obama took office the National Debt was 8.8 Trillion Dollars... In three short years we have raised the number to 15 trillion dollars. WTF three short years. I don't want to hear how we are in some sort of recovery when we are losing close to 2 TRILLION dollars a year. Bottom line is this, we are so far in that the game now is to just keep the boat afloat. Our leaders will all end up like Corzine, just a bunch of compulsive gamblers that run out of money to support their addiction. There is NO matematical way out of this crisis. So you can sit there and pretend that the future will be brighter then you ever imagined, however I can PROMISE you that will never happen.
Capitalism gone wild degenerates into a compulsive gambling habit on a grand scale. The clearest symtpom? A grandiose feeling of invincibility
It was a carefully contrived occurrence.International bankers sought to bring about
a condition of despair
so that they might emerge
the rulers of us all.
Congressman Louis McFadden
In the next few years, McFadden, who is an outspoken critic of the Federal Reserve and the families who own it, will be the victim of a shooting attempt and will then be poisoned at a political banquet but, hey, these things happen in a free country.
is msm, then, squid ink
Exactly tahoe, what are our kids going to do? I have been thinking about that for a while. I was talking to my daugher a few months ago, i realized , she will never experience the freedom, the feeling of being young and invincible that some of us did when we were young. She grew up with 911, housing bubble, now this shit. When i was young it was Lynrd Skynyrd on 8 track or cassette and an open road. Now its TSA, homeland secrurity, depression, recession, or what ever "sion" we call it, and a possible global crisis. And people wonder why the kids are protetsting. What do they have to look forward to? What kind of a world have we left for our kids? I just hope they take it back before its too late.
I keep us together and try to find hope for the future. Most impotantly I have brought my kids into this world to be critical thinkers. There is no Black or White there is only gray. My kids understand their future and often say that the cards are stacked and it isn't fair for them. I feel their pain knowing that even being a simple man in this day and age won't cut it. My sixteen year old showed up tonight on his longboard playing Skynard from his backpack. He is trying to find the peace we all enjoyed... The song that was blaring was Simple Man, my son says this is all he wants out of life.. I hope he ca be just a simple man, that would outlive my expectations for him....
http://www.youtube.com/watch?v=sHQ_aTjXObs
take heart--IMHO he has a fair shot at it-- we all may end up simple men with simple lives
Tahoe, you can live a simple life. You can't drop out of the world completly, but you can reduce the impact the world has on you and your family. I could see all of this coming as far back as 1996 and made a decision to change my lifestyle to survive the collaspe. I am not smart enough to create the kinds of wealth to survive this shit storm, so, I decided to make myself as small as possible in hopes it would blow over me. I have a small business that brings in enough fiat to cover expenses and small investments in PM's, but mostly I am self reliant, My wife and I raise 85%-90% of our food, she is able to sew most of our clothes, We can if need be make our own soap, I have enough skills to fix or build a lot of stuff we need, and we owe no one for anything. We do work hard at times, especially in the summer when the gardens are coming in, but it's a great life. If everyone really believes TSWHTF why aren't they building their life boats.
Some us are not in such a good position and cannot without risking get our nuts squeezed by the current system get out clean in any quick amount of time.
Some of us have family that is full-fledged sheeple. Deep down inside, they know we are right. But, they suppress and minimalize it. Normalcy bias, socially reinforced by other sheeple, is quite powerful. Thoughts of what we say is the truth bounce off of maybe 2 ro 3 synapses before getting suppressed.
So, we have to prepare differently. Our life boats may not be as "bulletproof" as others, but we are building them... as well as contingency plans and networking.
And, Buddybear is the one who gets it. Hear that, ZHers?
Hang in there Tahoe. There is no hope for the American Dream as we know it. And that is OK. The American Dream we know is bullshit. The real dream was replaced along the way with a consumer version. And we have lived our entire lives inside of it.
There is nothing you and I can do avoid the pain that is coming. But, we can teach our kids to be critical thinkers. We can teach them to be resourceful. We can teach them to be survivors - and honorable people. We can teach them about community... something that has been lost in the rat race. Etc.
Time is running short I think. And I think these lessons are best taught by example. And in teaching these things, our kids will probably have the better chance of finding happiness and peace in their lives.
your post put me in mind of another young man, his band is Fleet Foxes - more CSNY than Skynyrd - but same desire for simplicity, same world wariness, mixed in with youthful idealism. . .
maybe your son will enjoy. . .
http://www.bing.com/videos/search?q=fleet+foxes+%22helplessness+blues%22...
Rosenberg is far, far too optomistic... yawn
In a departure from its normal mode of accepting at face vale the `maths` and spin coming out of mainland Europe. The BBC were decidedly critical on the main uk news slot last night. Questioning the bullish moves in markets over the last 48 hours, and painting a more realistic picture of the key question - Print/big inflation or Austerity/depression.
Then a spot on the pro printing camp - UK & France, and the anti printing - Germany. Wrapped up with a presenter outside the ECB (where there is a large `occupy` demo) who explained that printing will be a direct transfer of wealth from the workers and savers to those who have been lazy and made bad descisions.
They then moved on to Italy, and explained very clearly that the fiscal package to be announced on Monday had been rushed through parliament with absolutely no democratic mandate at all. Its contents remain unknown to the Italian populace. Wrapped up with scenes of some demonstrators `who may be a lot less peaceful come monday`
The BBC is an arm of the British government. I went to bed wondering if they have been told to start getting down to reality and softening up the flock for something bigger.
who cares about the (US) economy. It's been financialised baby !
Just shoot me. Couldn't make it past the dyed bitch.
You know you've been at this game a long time when you can say you remember when Consuelo was a real hottie.
there is "never just one cockroach."...
As any licensed pest control technician in Ca knows, 4 elements must be present for an infestation to exist.
1. Food
2. Water
3. Harbor-age
4. More of their own kind.
One of these elements must be eradicated before control of the pest can be achieved. With the fed providing the food, the market providing "liquidity" and the gov't providing a place for them to survive, it's up to the people to eradicate their offspring to prevent them from reproducing.
imho.
So, I'm just about to hit play on this sucker, because I LOVE Rosenberg, and I notice the ads in the sidebars...
Netflix on one side... Cramer on the other!
That's just wrong.
The ads you see on Zero Hedge are a reflection of the life you live. Check yourself.
Damn I miss the original Gordon Gekko. I'm not smart enough to insert hyperlinks.
http://www.zerohedge.com/users/gordongekko
http://www.youtube.com/watch?v=DKJsSPATDLY
Oh!
So that's why on one side I get midget tranny porn premium pay sites and on the other recruiting for the SEC Enforcement Division.
<:)
I gave you a greenie, Do Chen Bearing-style.
I still contend that there are good guys at the SEC. It's just that they know there is no point in trying and surfing porn on the web at work is their way of sticking it to the man.
Tone at the top. The SEC could be a force for good if a good person was running things.
If I had wings I could fly.
What's ur point?
An honest man at the SEC and a snowflake in hell possess equal probabilities.
When all the cards are jokers, the deck is stacked and there ain't no aces no matter how many times you cut and shuffle the deck.
How can that be? I keep getting Victorias secret ad's tonight, but none of them have ever come to my house. HMMMMM.
http://www.youtube.com/watch?v=A77vlnXoP64
Majoring in minor SHIT! http://www.bloomberg.com/news/2011-11-10/oil-riches-languish-on-china-do...
Don't forget the pump & dump ( dxy), on the Sunday open.
Shit. Gold hasn't seen the way he sees just yet. Back up the truck and buy the fucking yellow metal because it's STILL as cheap as dirt if you know what I mean.
http://www.youtube.com/watch?v=xjHGw5oE0W4
ezra pound protege , ts elliot..............waste land...........
i dont trust anyone who says that the unemployment rate is 9.x% we all know its higher, we all know 9.x is fake. so any honest person in his field would state the real number 16.2%
Dr Bob
Just read an article that said since OmabaScrare came into being, 4.5 million employees have LOST their company Health Insurance.
The opposite was supposed to happen.
How many damn ads do I have to endure in order to watch this video??
Breaking: Shots fired near White House. AK47 recovered. Shooter(s) at large
http://www.politico.com/politico44/perm/1111/shots_near_w_h_0120cb98-8ae...
I know how come...the WH didn't want to listen
They also found dick Cheney's left hunting boot and a half empty 40 ouncer. I'm just sayin...
yer on a role lately 'Prankster. . . keep 'em coming!
o tempora, o mores!
(Zero Hedge) crew my IP has been pinged pretty hard the last 3 days. The attacks seem to be coming in the mid late evening west coast United States time.
Seeing Atlas Shrugged - what an amazing movie. Now I know why the elites dont want you to watch.
Read the book. And read The Fountainhead as well. Movies do pale justice to the concepts, whether you agree, disagree or partially agree with Rand's Objectivism philosophy
Is it like the childish book where Midas Mulligan picks up his ball and leaves society? Midas should have done what Buddybear is doing (see his comment elsewhere).
The current economic system is ending. Isn't it plain to see? We may go round the merry-go-round a few more times, but these are the death throws of a broken, corrupt system. It cannot last much longer. And when it ends, it will bring down all global fiat currencies. We will have to begin again, as we have before. It's nothing new, and this time isn't different. I'm just surprised that people willfully reject the lessons of history so quickly.
Just like the Anasazi left the fertile mesa tops to become cave dwellers we are slowly making our way there. Laugh all you want bitchez, at least I have a years supply of food and a pool full of water and a 12 gauge full of slugs waiting for some poor bastard to show up trying to threaten me.
Green shoots! Yeah! Only 3 years to go and then...buy, buy, buy...
C3X Performance sheet 73% success ratio and 1189 pips. Beat that! and this is the fourth consecutive month of profits and market beating performance.
http://capital3x.com/trades/nov-performance-sheet/
do you want a cookie?
Bigger role ECB. Germany's choice uncertain.
Economic recovery from abysmal state (it's the job market) in N-America depends on political change.
Those are two big "If"s. 0__o
A deflationairy period I don't see, it all depends on how credit is organised; so far every appearing crack has been stuffed with paper. (including the precious metals markets) A deflationairy spiral (in Fiat and in Gold-money) averted. The big experiment is, how far can they go with that. Here on ZH I repeatedly read "ECB has no more ammunition" and the "FED is in a pinch". Accurate IMO if one sees it as a continuation of a normal economic cycle. I'm not so sure about this being the case: I'm seeing indicators everywhere we're heading to a different type of fiscal policy, globally, which is tied to far reaching political changes. They make the rules. If the game is insatisfactory, they'll just flip the board and all our chips are on the floor, worthless. But for now, they need the game: They (political and monetary leaders) are pushing towards a global unity and currency. First, things will have to "fall apart", before pressure is put on China, Russia and Germany in earnest, before they can "adopt" the anglo-saxon model (and moreover; what comes after that), and fall in line. What I see is more geo-political stress, and a new technology/arms race. Isolating economic changes supposed to happen because of political changes, and then superimposing them on the whole (which is what Rosenberg is doing) works if all the parameters stay the same. If not, it's impossible to predict.
Occupy Portland Prepares For War
http://www.kgw.com/news/Occupy-Portland-plans-next-move-as-eviction-loom...
Police Friday said they had reason to think many in the camp were arming for a confrontation, calling for reinforcements from Seattle and San Francisco, along with constructing weapons and fortifications.
Police said hundreds were possibly heading to Portland and people may be in trees during any police action and a hole was being dug, reinforced by wood.
Protesters were also thought to be hammering nails into pieces of wood for weapons and gathering gas masks.
Several pallets were brought in Thursday night to the northwest corner of Chapman Park known as "The 420 Hotel" where police were told it looked like protesters were making shields.
Let's get this shit started.
".. Gross debt relative to GDP declined after WWII, then rose during the 1980s as part of Reaganomics.[9][10] During the 1970s, debt held by the public declined from 28% of GDP to 26% of GDP. During the 1980s, it rose to 41% of GDP." ...
http://en.wikipedia.org/wiki/United_States_public_debt
.
and that was before the financial sector replaced the manufacturing sector
as the 'better' part of gdp. so, i don't see the comparison of 1980 with 2012
and some miraculous political ingenuity in the face of global debt saturation.
maybe an oxygen payment or income to offset the carbon tax with a hydrogen
isotope adjusted sdr co-pay ?
.
It's the Individual that's finished.
http://www.youtube.com/watch?v=NcpWk2WKhEM&NR=1
those are some seriously disturbing hair implants.
Was Rosenbergs brain pickled in Valium before this interview?
It was 30 minutes of dribbling and dripping wet economists indicators. I've never lost so much respect for him since he talked complete BS about the Isreali thugs-Palestinian victims 80 year long rotting farce. Economists really are a bunch of spare parts
I agree. It sounded to me like he was pitching for more centralisation of financial and fiscal control as a "solution" to the over centralisation of financial and fiscal control. :-/
faster, harder, deeper
... and dumber
Did you hear even Gerald Celente got screwed by MF Global? These guys, even the ones ringing the alarm bells, never see it coming.
Fuck all Economists.
and politicians
None of em ever see it coming, but are of course the ones with all the answers after the wreck.
And we allow it to happen so we really cant complain much.
As a non-financial person, what I got out of it is: Be diversified. Pretty much what everyone is always told but no one does.
Of particular interest, he mentions the 7:1 ratio of people looking for jobs. What I was waiting for, which never heard, was how that is affected in a 1% YoY increase (3 million new Americans) in population. Or is the consensus population increases don't matter?
Munis? Seriously?
Keep stackin'
http://www.youtube.com/user/BrotherJohnF?feature=mhee
Chinese ratings agency threatens US with new debt downgrade
http://www.guardian.co.uk/business/2011/nov/12/chins-threatens-us-with-n...
Rosie is fine, it's me that's delusional.. I can't see myself buying a muni fund while trading accounts are begining to freeze up and disapeare.. "nice trade on those corn futs Bob! thanks tom but the money is just GONE.. yip account frozen, money *poof* hmmm
and how is it that the 1st to fall is a futures broker? Shouldnt it be a bond trading firm.. or are we waiting for that news to hit soon ? Could it be that JEF got the same margin call MF did but managed to dump their position and raise the cash? If so they played it off well.. Look guys we covered are risk see? lol
Who's next! While I wait to find out I should nibble on some munies.. Europe splitting apart shouldn't matter right guys?
@scatterbrains
I have similar thinking on Rosie here. The surprise ending is that he's long-term bullish? Well, so am I, but not as he sees it. Rosie lays out a Reaganesque scenario and credits the political cycle for the bull market of the 80's and 90's. Is he completely nuts? Does he not realize that it was cheap money and economic bubbles propogated by the Federal Reserve? Does he not realize that it was deficit spending that allowed us to draw forward all of that future consumption? The only bullish scenario I see is the global reset and that will involve a repudiation of debt; not exactly a recipe for white-hot economic growth going forward. Damn, I wish I could have jumped into that interview....
Tyler, you got rid of the math problems - big mistake.
the rosenberg article is extremely sensible although i lament his confusion between depression (an economic phenomenon) and deflation (a monetary phenomenon)
http://www.leap2020.eu/Advice-to-the-G20-leaders-The-G20-s-three-strateg...
The G20’s three strategic priorities for constructing the future from 2012/2013
And for LEAP/E2020, the essentials are contained in these three strategic priorities that fundamentally determine all the future architecture of global governance and, at the same time, purify the dangerous areas of the current system. Simply put, it’s a case of building the future whilst defusing the present from the bombs of the past.
First priority: From 2012 (at the latest) launch the process for creating a new global reserve currency.
At this stage the simplest method would be to turn SDRs into this new global monetary instrument giving it a more "sexy" name of course, and retaining the currencies of the major economies in the basket defining its value: US Dollar, Euro, Yen, Yuan, Real, Ruble, the Gulf currency (if it emerges by then), South African Rand, and possibly gold, which de facto has once again become a safe haven currency. It’s a case of restructuring the world monetary system on the real economy, then exiting the "financial" currencies such as the Pound sterling or the Swiss Franc.
Second priority: Put all the world’s major financial institutions under public tutelage, wholly or partly, from the beginning of 2013 at the latest.
The objective in this area is twofold: first to ensure that these institutions resist speculative temptations - although we already know that it isn’t possible to trust their leadership and / or private shareholders in this area; second, to organize a "gentle deflation", which doesn’t break the real economy, of the virtual economy.
Third priority: At the end of 2012 launch a huge ten-year public infrastructure programme on a world scale.
They wish!!
VOTE THEM ALL OUT!!!!!!
THROW them all out! FFS, voting will just replace this lot with the next lot of trained replacements.
Published Saturday, November 12, 2011 A massive explosion hit a Revolutionary Guards base
http://www.emirates247.com/news/world/blast-at-iran-military-base-kills-...
and in related news
Ayatollah Khamenei reiterated: "Anybody who cherishes the thought of attacking the Islamic Republic of Iran should be prepared to receive strong slaps and powerful punches from the Iranian nation, the Revolutionary Guards, the Army and Basij."
http://isna.ir/isna/NewsView.aspx?ID=News-1889457&Lang=E
"We are all Martyrs now."
snap
Earl of Chiswick,
Ayatollah Khamenei reiterated: "Anybody who cherishes the thought of attacking the Islamic Republic of Iran should be prepared to receive strong slaps and powerful punches from the Iranian nation, the Revolutionary Guards, the Army and Basij."
I just love thse friggin M E nutjaggoffs.
They use such colorful lingo to let the world know they are food for the dogs, ANYTIME we want them to be.
Sounds like Saddam........................
Mother of all Wars.............................my ass, mother of all massacres.
thus spake the self-proclaimed Xtian Zionist.
You can't make any money telling people they are fucked and too bad about that.
You can make money picking up the pieces.
OT- FARAGE Strikes Again / from Friday via MISH.
Great stuff, as usual, from the European Minister of Reality.
LINK:
"I Want You All Fired" Yet Another Fantastic Video from Nigel Farage, Speaking to European Parliament
lol. I want to see more of that stuff in a functioning European Parliament
-
"It's a madhouse. A madhouse!"