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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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This thing is going down.
This thing is going down.
Hmm.... You mean no one even cares what I am buying this second?
Hell I dont even care anymore what I buy. I am through with trading unless presented with such extremes like silver last may.
Most of us beat the SPY over the last ten years because, well, everything beat the SPY. I dont think it was alpha. Any of you think so then lets see your next ten year returns.
I am tired of the game, except to teach my kids how to buy and sell risk. It is time to live and love. We have so little time on this planet. You will find me at the efficient frontier, with a big overweight in third world and slight overweight in gold.
Otherwise I have better things to do with my time.
Smoke pot
Fuck
Hang out with kids.
Grow a garden.
But Zero Hedge will always be the first thing I check each day. When the G.O.O.D. signal is given. It will be reported on zero hedge first.
(Get out of dodge)
2008 is back in the house Eurostyle. Euro banks are dropping it like Lehman Brothers. France's Triple A will survive.
Interesting report. Although he does not acknowledge how absolutely corrupt governments have become in a Fascist sense (at least the US). No matter who you elect, they are poised to sell you out to the highest corporate bidder. And as some have said, corporations are brain-wired to suck the blood of the host til the blood runs dry.
If anybody here wants to get a clue:
Or if you trade for a living..
XRT is still in a strong bull mode, only $2 from world record highs
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti...
QQQ only $3 from 10-year highs
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti...
Where is the big, bad, bear market???
What happens if the economy and Europe start improving? Then what?
New highs across the board.
yeh i know robo. its all about the fundamentals. yeh sure..........
Hehe.
I am tired of trading. But I suppose my portfolio agrees with you since I am long term bullish that secular deflation is not our future.
MomoFader expertly states you should buy the high flier momo which is only $2 from all time highs. Well looking at his past stated trades shows 50 pounds of shit stuffed into a 20 pound sack with this guy.
'Wheres the big bad bear market? Nothing but new highs all across the board'....neverminding of course indexes adjusted for inflation at around 1995 levels, at best.
Robo is like a raccoon....dazzled by bits of shiny things.
Rosie speaks half truths plus....who can trust a fattie?
Instead of sitting here whining and complaining
Constantly hitting the "refresh" button on the Kitco ticker
And wasting all this time trying to predict the end of the world
You could have picked some dividend-paying blue chips like IBM or MCD and enjoyed life.
Unreal strength:
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti...
http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti...
That is why there is no need to dryhump the IBD Mo-Mo names, trade options or futures, or gun Russell 2000 stocks. The big blue chips are doing well enough to build wealth.
Do you ever post anything that isn't worthless garbage?
Check out EWZ it has an unreal dividend for a growth play.
LOL, RoboTarder and his Fantasy Stock League picks....MCD's and IBM now? Gee really....what happened to all your momos? Too badly beaten up so now this weekend youve traded for 'blue chips'? Wildly amusing.
Seriously, this is what passes as hard-hitting Mainstream Media Business Journalism? WTF.
There's 26 minutes of my life I can't get back.
"Take Rosenberg tonight and sleep,
safe and gentle, sleep, sleep, sleeeeeeeeeep."
[shhhhhh. Everybody is trying to sleep.]
http://vegasxau.blogspot.com
http://www.chron.com/life/society/article/Terry-Bradshaw-entertains-at-Lorelle-luncheon-2258899.php
terry bradshaw sure is smiling.............
http://maxkeiser.com/
Doug Casey Talks To James Turk
Posted on November 12, 2011 by stacyherbert
Off Topic --It looks like the FDIC is stepping up to stop the BAC transfer of derivatives from Merrill Lynch to Bank of America.
From Bloomberg: BofA Says Regulators May Limit Transfer of Merrill Contracts: http://www.bloomberg.com/news/2011-11-11/bofa-says-regulators-may-limit-transfer-of-merrill-derivatives.html
From Business Insider: The FDIC Fights Back Against BofA's Attempt To Put The Taxpayer On The Hook For Trillions Of Dollars Of Derivatives: http://www.businessinsider.com/fdic-fights-fed-over-trillions-in-bank-of-america-derivatives-2011-11
" the zoo is being run from the anaconda cage." earl caldwell
http://maxkeiser.com/2011/11/12/ote131-on-the-edge-with-charles-hugh-smith/
[OTE131] On the Edge with Charles Hugh Smith
Posted on November 12, 2011 by stacyherbert
Next up, biodegradable dollars. These nifty pieces of fiat currency, issued by our government in payment for good and services or welfare or whatever, can only be used once. Once they are spent, they biodegrade never to be seen again. Then the printing presses can run full speed all the time, the end values are about the same, and we don't get saddled with all that fiat currency debt floating around out there. Think of what would happen to the Chinese treasury overnight - zip, zero, nada. And the race to get more would be on, although no one would know why.
Nor would any real players occupy the game you described,
A THOUSAND THANKS ! ! ! !
In the Norwegian language, the phrase for "thank you very much" -- tusen takk, translates to a "thousand thanks" or thank you a thousand times over.
Thus, I wish to thank TD and his outstanding Zero Hedge site for their long practise of freedom of expression, i.e., zero censorship at Zero Hedge.
With so many sites today heavily censored (Huffington Post, Naked Capitalism, etc., [evidently Yves Smith believes all comments should follow the McKinsey status quo???]), the actual number of Web sites uncensored are becoming few and far between.
A year or so ago, an online associate demonstrated to me in real time, a supposedly populist web site (economicpopulist.org), where the group who signed on under one sysadmin name, would censor his comments, either by deleting them, or grabbing the comments he made which they agreed with, then combining those comments under their own sign-on.
I don't even bother with Canadian sites, since so incredibly many those are heavily censored; almost the same situation in Scandinavia.
And with all the chatterbots in existence today (software bots and web crawlers, with NLP interfaces, programmed for stoopid comments, etc., in order to foment "consensus thinking") along with further such "consensus web software" coming from America's Cyber Command and Fed Bank, etc., and those web sites programmed to to respond with ludicrous false comments at the site-level, one wonders if all those insipid comments are really human-derived?
Thanks, TD, we appreciate the freedom of expression allowed here, sir!
We're not looking at some multi generational slide out till bottom, the FED's 100 year charter is over, Bretton Woods in expired, and we will quickly and suddenly be plunged down and 'rescued' by the 1 world bank, 1 world govt and 1 currency.
Guys like Rosie just live in a world of economics, he didnt call the 'collapse' of 2008, and will not call the approaching next one either.
You are not listening to what he's saying. Many are called; most are wrong numbers.
C3X Portfolio hits a success ratio of 73% as it captures last weeks entire vol on both sides as it beats the markets again
http://capital3x.com/think-tank/nov-performance-sheet/
And the performance is provided in front of live trading audience
Now correct me if I'm wrong, but isn't the sane reaction to a dead canary in a coal mine, to get the hell out of the mine?
The severe lack of oygen. hypoxia, being less than the ususal,full up, 19% of what we call "air", is most keenly felt by a thinking brain.
black swans may really be more normal or grey than we want to believe, and the basic growth rate assumptions need to be revised. its also true that samples which haven't been formed tend to give truer results, so the more government starts fiddling with GDP deflators and the like, the more likely their numbers aren't accurate. and to that end, (any gambler knows this and probably any bachelor of arts) and any system which is tuned for performance, will tend to perform worse when it is in retromode. a 300 hitter buys a corkfilled bat, and hits 350, but take the bat away and suddenly he hits 250.
so it makes sense that as leverage is increasing, regulation should work to lessen aggregate leverage, and during periods of deleveraging, leverage should be facilitated. or as it used to stand "when the party gets going the Fed takes away the punch bowl.." so you could say the fed is doing the right thing, with ZIRP and all the easy money but it doesn't solve the problem of the closing of the system, the corkfilled bat.
as long as the fed and government resist deprogramming their economic policy, all the right policies will never be allowed to function as they should.
Free Yourself. End the madness
http://www.DemandTheGoodLife.com/?26864
On this whole issue of debt cumulation and the fight between markets and central banks :The issue is : Can the central banks fix interest rates for PIGS bonds or does the market.
BK's answer : ITS THE MARKETS THAT ALWAYS WIN IN THE END. POINT TAKEN. HE MAY BE RIGHT.
BUT....If the central banks can IMPOSE bond rates on PIGS BEFORE integraton of fiscal policies in EU AND then organise fiscal integration subsequently, all the while paying 4% and NOT 10%, they could be out of the woods, and the Euro construct saved in long term as we move to EMU concentric rings, or screen out the weaker from common money ring.
That I gather is the take of the article below :
There's A Big Solution In Europe, And Actually It's Really Cheap Joe WeisenthaRead more: http://www.businessinsider.com/europes-big-cheap-bazooka-credible-ecb-interest-rate-ceilings-2011-11#ixzz1dWf5FY5t
Is there such thing as a good M Night Shyamalan movie?
Wealth is created by entrepreneurs & working people, not by parasatic bankers, traders & guvmunt. Money only has meaning when there is something to buy.
When does the crisis end? When we get rid of all the parasites.
"When we get rid of all the parasites."
...that of course is never. But we can do them a treat by remembering that there is a Reward for Risk-takers, that if not honored, destroys the will to power. No Risk; Less Reward from the jump.
Ultimately is this not long pitchforks ?
Turning Japanese ,i really think so....