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Dr. Michael "The Big Short" Burry's "Brutal Hangover Is Inevitable" State-Of-The-World UCLA Commencement Speech
Infamous for his prediction of the great recession, Europe's demise, and the collapse of the US financial system (as well as profiting extremely handsomely from said predictions), so well captured in Michael Lewis' book "The Big Short", UCLA's Dr. Michael Burry undertakes UCLA's Economics Department's commencement speech with much aplomb. In this "age of infinite distraction", the astounding truthiness of this 15 minute speech is stunning from single-sentence summation of Europe's convulsions that "when the entitled elect themselves, the party accelerates, and the brutal hangover is inevitable" he reminds us that Californians, and indeed all Americans, should take note. A quarter-of-an-hour well spent from a self-described 'chicken-little' who was "just trying to figure it all out".
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"except certain very religious people think much about the ethics they should live by?"
Haha yeah right. Religion is evil.
You're a lawyer, that explains everything. To me you are the worst of the worst. You seem to project your self image to others too...
Economic I disagree. As you stated in your comment, you know your daughter will be saddled with college debt so you prepared to pay for the debt. This is all about what you as a parent have learned during your journey through life. I think that is admirable to do that for your daughter. Michael Burry is speaking on how he saw the housing bubble and what he did. There is no difference in either story. Based on his knowledge of the situation he sees alot more turmoil ahead because the current financial leadership is wrong.
Most here will agree. When we comment on this site it is because of what we have researched or what has happened to us in the past to even seek out ZeroHedge. All of it is about me. What we choose to do with that knowledge is a different story altogether.
Thanks ZH for a video I would never have seen because no news outlet would dare post this.
The video was posted on YouTube. My computer won't let me watch videos posted on ZH. Some about an ActiveX control it doesn't like. It's annoying but so what. I always manage to find the videos elsewhere.
mary, mary, quite contrary.
you have issues. i heard an earnest, honest recounting of his adventures in what he argues, and persuasively so, is a rather nasty period of history.
You say he's all about HIMSELF, and you are all about your daughter (who will apparently change things according to HER desires after she gets educated), which is your gene pool, which is YOU.
Plus ça change
Pathetic douchebag.
Bill Watterson's commencement speech at Kenyon College is worth reading:
http://web.archive.org/web/20060219183419/http://home3.inet.tele.dk/stad...
Ignore transcription errors.
"So, what's it like in the real world? Well, the food is better, but beyond that, I don't recommend it."
Good read. Thanks.
I would love Dr. Burry's response to Ray Dalio's "Beautiful Deleveraging"
Too late, i've already been 'swept away' lmfao and now im trying to claw my way back.
I've been saying for sometime the US Gov't will have the majority of the population in tent city instead of making the right decisions as our career politicians fuck us over to keep a job at every given chance.
Just wait......I assure you they are going to drop the hammer big time before this over.
Fuck 'em 2012, Get the Rope. That's my new bumper sticker.
"We must all hang together or asssuredly we shall all hang separately." --Benjamin Franklin
Michael Burry for President.....How do we get that done?
"Michael Burry for President.....How do we get that done?"
Bad move. Great investor, lousy President. Need more street smarts to be President of a dysfunctional country.
Tyler - thank you sincerely for posting this article - it was a treat to see after reading Lewis's book earlier ...
Yes, thank you Tyler... our beacon.
IMHO Burry's line "when the entitled elect themselves, the party accelerates, and the brutal hangover is inevitable" is most relavent to what the American electoral process has become.
When the CFR and its Bilderberg offshoot 'select' the candidates what more needs to be said?
Just this: My estimate: 97% of the 99% are facebook eating Zombies. The remaining 3% wind up talking to each other . . . The 1% (sociopaths & schemers) like it that way . . .
Mark Carney: Financing the global transition
http://en.wikipedia.org/wiki/Graham%27s_number
Pedestrian compared to infinity.
The following originally appeared on OpEdNews.com. http://economyincrisis.org/content/wall-street-has-no-worries
“Why Can’t Obama Bring Wall Street to Justice?” ask Peter Boyer and Peter Schweizer in Newsweek this week. It’s a question a lot of Americans are asking, but the answers so far have been less than satisfying.
“It’s perplexing at best, it’s deeply troubling at worst,” complains Phil Angelides, a former California treasurer who chaired Congress’s Financial Crisis Inquiry Commission.The FCIC reported that reckless Wall Street firms and weak federal regulators were to blame for the 2008 financial crisis. But we have yet to see any prosecutions of high-ranking financial executives.
In reality, the lack of accountability and prosecution is not perplexing at all. It’s all very predictable. The important fact to understand is that the biggest contributors to Obama’s 2008 presidential campaign were financial firms.
Wall Street gave him $16 million compared to $9 million for his Republican rival. Goldman Sachs executives alone donated $1 million to Obama’s campaign.
That turned out to be a great investment for the Big Banks. Instead of having to face a tough Attorney General, their quid pro quo was the nomination of corporate lawyer Eric Holder, who spent ten years at the Covington & Burling, a law firm whose clients happen to include Goldman Sachs, Bank of America, Citigroup and all the other major financial institutions. Not surprisingly, Holder went after Wall Street with the vengeance of a toothless chihuhua. By the time he finished spitting them out, Obama’s Justice Department had racked up a total of zero criminal charges against the major banks.
That compares with the thousand or so prosecutions (90 percent ending in convictions) resulting from the Savings and Loan scandals in the 1980s. One of the government regulators back them was William Black, now a professor at the University of Missouri. Newsweek quotes Black as saying the difference between then and now is a matter of will and priorities. President Obama has talked tough, but has failed to deliver.
“There hasn’t been any serious investigation of any of the large financial entities by the Justice Department” notes Black. Financial-fraud prosecutions are down 39 percent since 2003 under both the Bush and Obama Justice Departments. Professor Black also points to the revolving-door between the Justice Department and law firms representing Wall Street. “Everybody knows there is a problem with that.”
Three different government investigations led to Justice Department referrals for possible criminal investigation that so far have led nowhere. A Newsweek inquiry determined that, in the weeks prior to and after a scathing 2011 Senate committee report formally recommended a criminal inquiry into suspicious Goldman Sachs transactions, several company executives, some donating for the first time, made maximum-limit contributions to the President’s re-election campaign. For Goldman Sachs, it was one more investment that paid excellent dividends, i.e. no prosecution.
Attorney General Holder has tried to explain that as bad as Wall Street’s behavior has been, proving that they’ve broken laws is not an easy task. But Professor Black posits a number of possible federal charges: “securities fraud for false disclosures, wire and mail fraud for making false representations about the quality of the loans and derivatives they were selling, bank fraud for false representations to the regulators.” But to make them stick would require a strong prosecutor and an administration willing to go to battle. So far, neither one has showed up.
A New York Times article quotes David A. Skeel, a law professor at the University of Pennsylvania: “If you look at the last couple of years and say, “This is the big-ticket prosecution that came out of the crisis,’ you realize we haven’t gotten very much.” Many Americans worried that different rules would be applied to this financial crisis, and that appears to be the case. “It goes to the whole perception that Wall Street was taken care of, and Main Street was not.”
In spite of the kid glove treatment from the Obama Administration, Wall Street looks forward to even better treatment from a Romney administration and has poured money into the Republican’s campaign at Obama’s expense.
Apparently the President’s occasional scoldings and minor rule changes annoy the bankers enough to drive them into his rival’s camp. Any fears of major prosecutions have apparently dissipated, leaving the banksters confident that even more goodies will be forthcoming from their traditional GOP allies.
The world of Big Finance continues its high-flying lifestyle and powerful grip on the eager politicians eyeing the bottomless supply of contributions that Wall Street is happy to provide. It’s a win-win for the banksters and politicians, while the rest of America waits impatiently for their so-far elusive economic recovery.
Alan Greenspan, Barney Frank, Hank Paulsen, Jon Corzine on and on
Major contributors to BOTH parties
Crony capitalism
The rest is simple theatrics and going thru the motions to make the public believe something is being done
But this has been going on for some time now. It doesn't start with Obama.
The USA is a State under corporative government, that isn't news. What are they willing to do about it, US citizens?
" . . . and then the FBI showed up."
You see there's the answer--the "law enforcement" agencies have become just "enforcement" agencies doing the important work of suppressing embarassing questions directed at the "sensitive" issues--like the incompetence and/or complicity of the Fed, Treasury and regulators in the financial crisis.
And I think that is the most frustrating aspect of this fucked situation. It is right there in people's faces and they just don't see it. SEC, AG's, FBI, DOHS, local law enforcement...the people we pay and used to believe in to act for the common good have collectively decided to look the other way for those in the economic elite circle, yet they become Mr. Monty Burns' attack hounds for those of us willing to question.
Selfish and/or crooked politicians and their cronies have always existed in the US. I read a biography of William Randolph Hearst a few years ago that was brimful of self-dealing, patronage, voting cemetery inhabitants, paying illiterates to make their mark for "your" man or party or whatever. The cities concerned were New York and St. Louis.
Believe me there is nothing new under the sun.
In the 'nothing new under the sun' category, I highly recommend The Century of the Self BBC series if you haven't seen it. The stunner there is the birth of propaganda was in the US, and in use by the executive branch beginning in the late 20s !!
"A newspaper is a device for making the ignorant more ignorant and the crazy crazier."
HL Mencken Doubly so for TV of course. That where the propaganda vision of law enforcement (and most everything else) is programmed to keep the ignorant, ignorant.selling the myth of "special" and "worthy" to the masses via tell-a-vision, it comes full circle to bite a naked, dimpled ass.
Exactly -- really what should be the most shocking statement he made. Yet people above want to talk about whether he's an "asshole" or not. I'll take an asshole who speaks the truth any day.
They're fuckig us all.
Paraguay has been taken again; president Lugo is out.
wealthy europeans, brazilians "invest" in de-forestation for cattle ranching. . . and of course, ex-presidents buy up land over massive aquifers.
final frontiers, disappearing.
While all this stuff is very interesting, practically all of it doesn't affect me. It's mere "psychic" damage if I want it to be and not actual damage. However, one thing that really pisses me off are companies whose ads follow me to every web address that I visit. Now that is worth getting pissed off about.
One wonders what Brad DeLong at UCLA thinks of Dr Burry's soeech. After all he with Krugman is one of the cheerleaders of the debt bubble that bubbled and said ne'er a word against it. And if you go to his website you will learn even today that he believes that what has happened changes not an iota of what he teaches. Like the three monkeys: hear no evil, say no evil, see no evil
Delong keeps showing up for work at Cal.
While all this stuff is very interesting, practically all of it doesn't affect me. It's mere "psychic" damage if I want it to be and not actual damage. However, one thing that really pisses me off are companies whose ads follow me to every web address that I visit. Now that is worth getting pissed off about.
Get block ad plus and ghostery, mozzila add-ons. The web is not same anymore with them. Sorry ZH.
As an academic who thinks, perhaps romantically, that commencement speeches should try to be meaningful moments indeed, I gave this a good listen.
As a commencement speech, this is really a fine oration. Simply as life advice, for young people entering a fraudlulent world, this was epic.
OK, here's the BIG tip that seems not to have been mentioned:
"Mainstream economists and finance practitioners, Please check your premises, you have contradictions before you."
All around I see people jumping on all sorts of wagons whose fundamental premises are not checked. People bashing "govt," "education," the "financial system" etc., YET, the proposed changes nearly always fail to identify and vet out the PREMISES!
I'll continue to state this: UNLESS we can identify a way of achieving full sustainability (projecting human existence until such time that the sun is about to burn out) ALL "solutions" WILL FAIL! (read "your 'solution' is every bit as flawed when viewed in the greater context/big picture of things). Perpetual growth on a finite planet is the premise that is NOT questioned!
Here's a reference for help in understanding why premises must be questioned:
http://www.youtube.com/watch?v=hOOuGb_E86Q&feature=player_detailpage#t=820s
"If you can slide your premises by people you've got them!" Propaganda is then easily applied.
How about questioning the premise we live on a finite planet?
The sun beams practically infinite energy down onto the earth. We just need to collect it more efficiently. The interior of the planet produces infinate heat. We just need to be creative in converting it to useable energy. Minerals can be mined from asteroids if they get too scarce. In fact there's larger reserves of most minerals today than ever before. Oil will get scarce over time but we just need to start the transition to alternates early enough (see the Hirsch report (http://www.netl.doe.gov/publications/others/pdf/oil_peaking_netl.pdf).) If civilisation still collapses it won't be because of a lack of resources but a lack of preperation.
That's nice, but our problems go well beyond resources unfortunately. Until we get a handle on fundamentalist cultural conflict and dominator psychology, all that you mentioned will in the end accomplish little more than advancing the state of armament and efficiency of wanton destruction.
As a basic example, the core problem of energy conservation is psychological, not technical. We could bridge that transition more gracefully if people had a mindset that didn't include driving a piece of shit that gets < 18mpg so they can "feel safe" and carry "mass quantities" (as the original coneheads would say), but that requires cultural evolution and human effort (to say...ride a bike and buy less plastic crap).
http://www.youtube.com/watch?v=-DgS7GJ0rbY
Bravo!!!
thankyou
"Sadly at the highest levels of economic thought in government questions are not tolerated. It is as if we are dealing with the binary judgment of a fundamentalist religion.”
California and Germany, tax base hit and going down, containment lost, centrifuge coming down, labor reflation coming up.
Paper Bridge 2 Germany
So, here I am in the bottomless pit. The girl will not leave with me to accept a six figure job and will do everything in her power to stop me from leaving. She tells dad nothing. Dad is a 1st gen Mex, from the field to career public school employee, retired. Dad says any labor not working are idiots and leeches, and his tax dollars (;) would be better spent. Mom is a retired teacher, ministering to homeless men, accepting donations from druggy firefighters paid to prevent the men from working in the forest, and should any refuse dependence, it’s off to San Quentin they go. One just told me he had been diagnosed with a rare form of cancer, with 2 others at the same time, all miraculously cured with the expense of healthcare tax dollars. Retired Aunty social worker facing foreclosure came up to pitch me a reality show for homeless charity, featuring the homeless, leaving this Smartphone tracking device. The brother is six figure cop/narc, threatening to investigate me. Self-appointed prophets all, listening to their subcon mirrors, telling me what God wants me to do.
That is the paper bridge being constructed by the feds, with 800,000 more participants, to prop up Germany.
Trust you can believe in, by Obamny.
Marvin the Martian: A Robot Story
so, So, SO…it’s a selector amplifier Mr. JPM
Try, try, try as they might, they just cannot catch dopamine.
“Tax delinquency rates are soaring in Mendocino County’s largest subdivision, and scores of owners are abandoning their lots, saying they are not worth the cost of taxes and services.”
…and servicing debt with road funds, to get road funds.
The money is there, and then it’s not, surprise. Govt looks at itself in the rear view mirror and sees…
Wakey, wakey. Anytime now would be a good one to get off the bridge, or do what all good robots do, look into the camera lens…to prop up Facebook, Apple, & Google. Keep the global economy afloat for one more day, delivering alpha, you, and proffering robot replication for the omegaultiplier.
It’s a bug, just a bug, but if you step on it, the locusts come next. Don’t feed Marvin and he blows up. Nature is the problem and the solution.
The more they control, the more out of control their system becomes. They must dominate, making physical aggression unlawful, with an exception for the out of control police state. Good luck with that.
The empire is always the problem, which single people largely see, but the solution is the problem turned on its head, individual responsibility, aggregated, which is what parents see. Problem is that parents have been exterminated.
Bank is a utility, which is Warren Buffet at the knee of Graham. The problem is not the law. The problem is the power individuals have to set the value of currency implicitly, and their willingness to hand it over to the explicit empire. Soros is just the transformer.
The law FOLLOWS behavior, and human behavior cannot be changed in REAL TIME, UNTIL IT DOES, depending upon the income event horizon, and its collapse.
Unifying the Electron
and Proton
by Miles Mathis
milesmathis.com
http://milesmathis.com/elecpro.html
Much shorter speech of the same:
Class of 2012: You are fucked. Truly fucked. There is no hope. Now when the bar opens and who is paying my drinks?!
You appear to be chatting up a urinal. Just sayin.
One of the best speeches:
http://americaviaerica.blogspot.com/2010/07/coxsackie-athens-valedictori...
(speech as given live, available on YouTube: http://www.youtube.com/watch?v=9M4tdMsg3ts)
Hard to see the path when you've got one eye on the "goal."
Forex and futures portfolio from the leading bond experts
http://capital3x.com/think-tank/performance-for-week-22-june-2012-hard-w...
A Letter Concerning Toleration by John Locke 1689 But the depravity of mankind being such that they had rather injuriously prey upon the fruits of other men's labours than take pains to provide for themselves The Necessity of preserving men in the possession of what honest industry has already acquiredand also of preserving their liberty and strength, whereby they may acquire what they farther want, obliges men to enter into society with one another, that by mutual assistance and joint force they may secure unto each other their properties, in the things that contribute to the comfort and happiness of this life, leaving in the meanwhile to every man the care of his own eternal happiness, the attainment whereof can neither be facilitated by another man's industry, nor can the loss of it turn to another man's prejudice, nor the hope of it be forced from him by any external violence. But, forasmuch as men thus entering into societies, grounded upon their mutual compacts of assistance for the defence of their temporal goods, may, nevertheless, be deprived of them, either by the rapine and fraud of their fellow citizens, or by the hostile violence of foreigners, the remedy of this (Latter) evil consists in arms, riches, and multitude of citizens; the remedy of the other (Former) in laws; and the care of all things relating both to one and the other is committed by the society to the civil magistrate. This is the original, this is the use, and these are the bounds of the legislative (which is the supreme) power in every commonwealth. I mean that provision may be made for the security of each man's private possessions; for the peace, riches, and public commodities of the whole people; and, as much as possible, for the increase of their inward strength against foreign invasions. These things being thus explained, it is easy to understand to what end the legislative power ought to be directed and by what measures regulated;
Great speech ! Truth is indeed stranger than fiction. When the TPTB see a catastrophe coming (oh BTW, that they created), they put their AIG hats on think is there a way to profit from this, how can we lay blame on someone else, and which election campaign do we need to contribute to for our "get-of-jail" free card.
Hmm thought this was interesting enough.
Of interest in posturing, the guy on the left of the screen wearing the sports sunglasses. He seemed to be quite offended.
At friday, VXX index touched 15,79. So a perfect double bottom.
A double bottom in VXX index will produce a larger lower leg now to SP500.....
See here: http://pracompraroupravender.blogspot.com.br/2012/06/fundo-duplo-no-indice-vxx-prepara.html
thanks - I hadn't seen it till you called it. Abrupt reversals A/H Friday, too, VXX closing session at 16.29 amongst heavy volume, 1/3 of which in one trade: 1.2 million @ 16.10 (16:43mark). Hoping for a shit-stom Monday....
ok....cheers from Brazil !
You have to give some credit to the people who had the guts to bring Burry to speak at a commencement where the audience expects exactly the opposite message.
conrad, if you don't know anyone by name from Homeland Security, that may be changing in the near future, be careful out there,,,,,,
Who is the guy in the silly suit?
Absolute genius! A million thanks Dr. Burry!
http://www.nytimes.com/2010/04/04/opinion/04burry.html?pagewanted=all
Good post T. D. This gentleman did not "bet against America and win". He bet against the "international banking cartel" and won!
I am Tuco
Beyond the edge of light you will find me.....
And I will give you everything
This is the first time I heard he was investigated by the Feds as well. It just gets worse and worse. The guy speaks the truth and they try to prove he is a crook.
Remember yesterday when I said that egregious behaviour was sure to follow the bank downgrades in order to insure bonuses for the bankers at the end of the year. Well, here it is....
"A Sober New Reality in Credit Downgrades for Banks"http://dealbook.nytimes.com/2012/06/22/a-sober-new-reality-in-credit-downgrades-for-banks/?ref=business
" Intellectuals solve problems; geniuses prevent them." Albert Einstein
Too bad the power elites don't listen to people like this ...... too bad for us, but prosperity for the elites who continue to manipulate 99.98% of the worlds population.
Can anyone tell me why I can't generate an account on zerohedge with the login name "Million Dollar Boners"???? Why is "million dollar bonus" OK then????
The hard truth is that somebody already grabbed it 5 weeks ago.
hivemind effect.
What does he mean when he says that markets are not efficient? Is this what Hayek called the fatal conceit, or is it something else?
If this guy is a genius then we all are. The only way I knew how to "make money" during this bullshit bubble was to not buy into the RE madness and buy PMs. I didn't know how to do a Paulson and get to cherry pick turds to short whilst my Goldman conspirators were peddling the shit AAA to grannies and orphans. It is clear that you will not see economic justice nor prosecution of the criminal elite by your government while you reside on this spinning rock. All you can hope for is for Dante's inferno to be real.
...narrow minded tone of contempt, though it is wholly justified, like; kidnapping a whore hooked on Chairsatan's Hopium, named Liberty, in order to prevent her retroactive abortion ...and you are the whore child.
...is not Mercy The Fractal? ...what is the fracatal of the black hole if not darkness?
Let me correct his statement, ''I had bet against America and won'', which was the crux of his speech. He did not bet against America, he bet against corruption and took for himself the gains it had to offer, thereby becoming the image of the one percent as a result of assuming the position as a result of the offer established by corruption. Obiously he is not comfortable with having done so, which is good to see. This is the bitter root of the prophetic strong delusion, AKA wormwood, which dries up mercy and makes way for the historic cycle of war and the continued war against man and All that Is Holy.
He is not a prophet, to be sure, but, he is a perfect messenger for this generation and has given a perfectly clear sign for the world to see. He is the image of the Golden Calf, founded upon the offer of temptation, and stands bound upon the alter of contempt as a host for the end result of the legion of gains that define the fruit thereof, death. That is the whole nature of the beast and the black hole, which is the new world order claim of dominion by which the secular worship is defined (U.N.)becoming.
The secular religion, which he defined, as the rule of thumb, or the current law, which proved to be lawlessness beyond a shadow of doubt, defines the exploitation of; Americans, and the whole global borderless reality upon labor in general. The ''want'' for the required principle return, to justifiy labor it's self, defines the gains he (we) acquired. This is the prophetic revelation of Babylon and the writing on the wall, which declared the want of Babylon the hour it fell, and it is the revelation of the same global image of the nations now, and the call of the prophetic fulfillment declaring the ''want'' of this 2012 genaration.
Let us all confess our narrow minded focus, those of us that acquired the same personal provision for the future, as a result of seeing and then capturing the gains from the deep contempt against us, and let us plead guilt and ask for forgiveness for having seen the same event upon the horizon this brilliant messenger so perfectly confirmed, and let us stand equally yoked with the same bitter principle gain, on a smaller scale, Lol. Let us spit out this foul lukewarm wine of wrath and drink no more strong delusion. Let us divest and help all suffering the grand global indignation, so they may see clearly and also hear the call to come out from this fallen whore of Babylon and escape the fangs of the Suicide Vampire Squid of the Great Wal Mart of China.
We are in the middle of a black hole and this man perfectly describe the contempt by which the secular beast has marked this generation and sealed the judgment now risen upon us.
Hear this warning.
''We can not, as individuals, accept the gains of contempt or provide labor for the beast which lives to devour the very principle required to sustain the market as a whole and thereby our own life. We cannot support the war against life''.
The proof is now on the table, is it not? ...and are we not now a witness subject to judgment? In order to bring correction and to maintain the ethic of life, lol, which is mercy, and to do no harm, we are hereby ordered to ''stand fast and do no harm'', are we not? This means we must not buy sell or trade this market and we must make an effort to destroy the corruption, which is the secular and borderless lawless beast defining the leaders of the nations and the market of contempt by which the power to make war against ourselves is made. The only way to kill the Suicide Vampire Squid of the Great Wal Mart of China, and make our attempt to restore order to capitalism which ensures growth based on moral ground, is to reject the name and account number of the beast at hand. It is now the end time to set forth provision for this battle, in order to endure the coming events, and it is time to be counted worthy to rise above the violence against us all. Make straight the way of the Lord of the Harvest.
Is it wise to wish anyone ''good luck''?. Is luck not for fools that perceive our men of renown as anointed Saints and for those without the clear vision of mercy? Shall we not be direct and say, ''resist'' temptation, and hold fast to the sustaining principle of mercy? Did this messenger not just declare clearly his intent based on good work?
In the name of the mercy of our Father risen in Christ, fear not, stand fast and do no harm. http://www.youtube.com/watch?v=wZ3DnBIt41o ...lol. The Fullness of law is risen ...bitchez.
P.S. The Truth is not a choice, I'll have an Asperger's with cheese please. Lol.
...I'm calling you out Mr. Down Arrow. I challenge you to justify your contempt or remain silent and convicted of being ....the black hole.
Betting against America, I believe, since the US economy was at that time based on the housing market, was this man betting against the housing market, predicting the bubble would burst, which in retrospect even Alan Greenspan knew would occur.
In essence, what I heard, was this: "You are being left with a future you do not deserve, reckless abandon took place at every level and it is you who will now pay the consequences of their gluttony. Exploit the situation to make a living any way you can, on the high road."
...sad and pathetic response to sing Swanson(g), I hope you don't buy your own bullshit. Betting against what you believe is a sure thing. The cheese on the Asberger's meat is defined by the medical doctor muse, take the sexwax out of your ear Surfer Bird. http://www.youtube.com/watch?v=ZnYzQsZXIRc
Chairsatan lobbied for the prophetic Larry Summers Time(ed) bucket, with the post depression black hole in it, based on the ill intent to combine the foundation set by favorite nation status with China and the ensuing U.N, Agenda 21, GATT, WTO, IMF, World Bank, NAFTA etc... borderless crime drive that lead to to the global exposure of the borderless ZIRP Red House O'Bomba Bond Fire with the debt to GDP etc... now upon this generation for the purpose of achieving the crisis required to establish the new world order global market seal. Wake up boy, this game theory is directly tied to the forces risen in the Middle East post 911. Grow up. http://www.youtube.com/watch?v=zcyucPInpGM
It is almost 11 pm where I live. I have waited all day until I finished my other obligations to watch this video. (which I bookmarked) I must say, because of the truth of what Michael Burry says, it is one of the most moving and powerful speaches I have ever heard, since as a young man, I listened to the speaches of Winston Churchill in the phono lab of the public library in Fallon Nevada, while I was stationed there in the US Navy in the 1960's.
Retribution.
A beautiful word, a word with so much meaning, a word that carries a heavy burden.
Listen up bitchez, Retribution. What comes around, goes around.
Prepare accordingly
#1 prob w/ US is betting against it is $ good
Michael Lewis for president. Well spoken.
Surprised Aldous has received so much venomous attacks for his opinion, IMHO there's a lot of validation in his opinion, is Burry poacher turned game keeper or game keeper turned poacher? Neither, he'd like to see a silver bullet solution, (I'm sure we're all agreed there isn't one), in order to ring fence his wealth.
I'm taking a left field Freakenomics view of this speech, he's scared, the ultra wealthy are becoming very scared now we've reached a real inflection/tipping point. They now realise that whether it be Austrian School or Keynes, or any other misallocated hollowed out doctrine theory they've believed in to anchor their views, they've all been blown apart over the past decade.
The ultras can finally see their wealth atrophying and despite piling into certain safe assets it's all crumbling due to the poison medicine.
(US|American|Federal) (government|governance) (revenue|fund|policy) "risk (on|off)" (change|broke|default|expansion|collapse)
This brought me back 7 news articles...on a Sunday. On A weekday I should be getting back around 50-70 articles at minimum. Sat and Sunday the number is in the hundreds.
7 articles on the US government budgets and management of it is a numerical impossibility. Something is happening right now. As in right now. 8 AM June 24th 2012.
The whole educational system is bull.
The ones that will continue and live are the ppl that know handwork.
This whole shit is the same shit as 1929 but with another flavor.
They want you to be a slave again and again. So things like the atomic bomb can be created.
Isnt that a fact?
Keep on doing this, and you get more morons that they created in the 1st and 2nd world war.
Great plan to be a wealthy nutjob.
Where can i buy these suits with the hats?
Good for a carnaval party :)
http://www.youtube.com/watch?v=k2QzjQEjp5Q
http://www.youtube.com/watch?v=tz3qShugQ9I
www.youtube.com/watch?v=Qbel5MhtDq4
Jokers in funny clothes were also employed by (then) royalty to poke harmless fun at themselves.
Nothing changes does it!
This joker simply exploits his twisted view that academic clowns are worth more than bricklayers, doctors and anyone else who actually works for a living.
ME ME ME, I did this. I did that. I made a fortune. I am SO clever.
Wanker! Self-server.
BTW I am not motivated by envy.
I went to a university and studied politics, philosophy, anthropology and psychology - after having worked in both building and engineering industries.
But I had a naive regard for academics. So, at 38, I thought I'd give a go ... and found most of it BS, so I quit.
Like my reverse namesake, it never did me any financial good to question everything, but I could not live with myself if I'd taken advantage of the public education system to exploit everyone.
Yes he is a joker/clown in his funny clothes, but he serves his masters well.
BTW the Titanic sank with both rich and poor dying.
This "Titanic global civilization" is close to sinking - like all empires.
Reference to Tom Lehrer is apt, "We will all go together when we go."
http://www.youtube.com/watch?v=frAEmhqdLFs
Never mind economic melt-down, there's the Fuckyoushima that no amount of dressing in silly clothes will resolve, nor make a profit from.
Collectivism explained by G. Edward Griffin
http://www.youtube.com/watch?v=jAdu0N1-tvU
Good link. I'm about to watch the whole of it, having come to respect G Edward Griffin a number of years ago.
I doubt that I'll have many significant differences of opinion. If I do, then I'll comment later.
BTW it was about 1959 - actually about 1955 - that I started to have the same kinds of doubts that Ed Griffin had back then, but I lacked and lack his gifts of being able to articulate so well.
I was reading Fannie Watch back in '00 and '01 and knew there was a huge bubble forming based in large part on Fannie and Freddie's rapidly widening debt to equity chasm. Man, I wish I gave shit about my income and had a solid grasp on shorting back then. I would have jumped on this guys bandwagon or did something similar to what he did with Scion myself.
DOW weekly chart shows uncertain market & fluctuating consensus with likely bullish pattern contained within megaphone wedge.
http://www.zerohedge.com/news/2012-12-24/market-analysis