• Sprott Money
    05/05/2016 - 06:02
    Why is a Deutsche Bank mouthpiece suggesting “negative retail deposit rates or perhaps wealth taxes”? The answer is to (supposedly) stimulate our economies.

Global Market Update From Damien Cleusix

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Wed, 10/19/2011 - 09:31 | 1788477 LawsofPhysics
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More paper shuffling will not solve a problem created by paper shuffling.  All things physical moving forward.  Any assets of physical value period.  All paper is going to its true value.  Hedge accordingly, andmake sure your kids know what is going on, because this fire might last a few years.

Wed, 10/19/2011 - 09:34 | 1788490 Biggvs
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Good stuff, Damien.

Wed, 10/19/2011 - 09:35 | 1788494 Imminent Collapse
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So, hyperinflation or deflation? 

Wed, 10/19/2011 - 09:35 | 1788497 mayhem_korner
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Yes.

Wed, 10/19/2011 - 09:45 | 1788534 LawsofPhysics
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whether or not you have some made up term to define the difficulties that lay ahead is irrelevant.  All your assets is belong to us.

Wed, 10/19/2011 - 09:35 | 1788495 mayhem_korner
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Did they learn from the 2008-2009 mistake?

 

The premise here is that they believe they made a mistake.  I haven't heard anyone currently in an influential role pulling a mia culpa.  Wash.  Rinse.  Repeat.

Wed, 10/19/2011 - 09:42 | 1788515 g speed
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what needs to happen is that depositors be the first in line to get whats theirs or else the taxpayer will foot the bill via deposit insurance (gov't backed) -- anything else is theft and should (maybe will if the mobs have anything to say) punished with hard time. As it is set up every scum bag fraud perpitrator and proxy voter gets the first pick of the good stuff in receivership-- Soon the cry may be off with their heads.

Wed, 10/19/2011 - 09:42 | 1788526 drivenZ
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This is perfectly stated and should be sent to every gov't around the world... 

"I feel it is important to emphasize - as we move toward recession - that we shouldn't blame what is happening here on capitalism or free markets. We really have only a caricature of those here. We have a system that is constantly eager to abandon the proper role of government in the markets - which is effective regulation of risk - and to substitute it with the worst role of government in the markets - which is absorbing losses for those whose losses should not be absorbed, and pursuing policies tilted toward the constant creation of speculative bubbles and the avoidance of required economic adjustments, rather than the productive allocation of capital."

Wed, 10/19/2011 - 10:05 | 1788612 twotraps
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Agree, that sums it up.  What can be done about it?  The only thing govt has done consistently is make decisions with No regard for economic consequence.  Pathetic that is has been allowed to persist and hardly shocking we have the results we do.

its a complete abuse of the system.

Wed, 10/19/2011 - 10:31 | 1788757 rwe2late
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 That quote contains an argument open to dispute.

Marx and others have contended that monopoly finance capitalism is a natural evolutionary late stage development of a capitalist-driven economy.

The lassez-faire "free economy" was the earlier, "primitive" if you will, stage of development and was "free" of government intervention only in the imaginations of sycophant apologists for the social order. Those who hope for a return to an imagined "golden age of lassez-faire" are sadly mistaken as to the conditions of what  previously existed, the possibility of its return, and the alleged benefits even were such a historical re-run possible.

Wed, 10/19/2011 - 12:19 | 1789269 buyingsterling
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Translation: We have to abandon human nature and turn our lives over to control freaks.

It's our nature to want to commerce freely with one another. We now know who threatens this dynamic: the corrupt and the controllers. Next time we start over, we're gonna be real explicit. And there are punishments beyond capital punishment, like sterilizing an entire family tree. We'll figure out how to control the corrupt and the exploiters eventually, or we'll be their slaves. Until we make the consequences of screwing over society unimaginably bad, it will continue. Basic math.

Wed, 10/19/2011 - 09:44 | 1788531 BetTheHouse
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Isn't it cute the way he talks about "banks" and "politicians/regulators" like they are two separate groups of people? 

Wed, 10/19/2011 - 09:48 | 1788545 CvlDobd
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Good article.

The 1270 would take us straight to the 200 which was the countertrend rally killer in 08.

Interesting perspective. I need to look at these Japanes small caps to see this opportunity you speak of.

Wed, 10/19/2011 - 10:03 | 1788598 Biggvs
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I found the Japanese small cap thoughts interesting as well, since that's an area I have not considered. Wonder what the simplest way to play the sector is for retail investors.

Wed, 10/19/2011 - 10:11 | 1788660 mjk0259
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DFJ - jap small cap etf

Wed, 10/19/2011 - 09:53 | 1788564 twotraps
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enjoyed that article.  Also think that S&P can test 800 or lower.    The article has value for me because it is easy to get lost in the day to day headlines when big picture perspective is needed most.    Another difficulty in the past few months is that, like the news, rejection of certain levels used to mean something!!  Despite potentially damaging economic developments, recent rejection of the lows in stocks would normally suggest a pretty strong move higher with April highs vulnerable to a test.  Why is beyond me but this thing will not break.  At the end of the day, we get paid by going with the price.  Maybe its just harder now because we are waiting on France for the next headline, good luck with that.

Wed, 10/19/2011 - 10:19 | 1788691 Gene8696
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Good read, but he should title that summary paragraph as Metals, not Commodities... As Oil is not addressed nor is it following PMs, and other "Commodities" are very mixed.

Then again, maybe I just want to read WTI will get back to $75... As I believe?

Wed, 10/19/2011 - 10:27 | 1788734 youngman
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"Also think that S&P can test 800 or lower"......I think so too...and it should.....but it won´t...because the markets are rigged with computer trading..and the Feds will buy it to keep it up...they can´t have peoples assets and Pensions falling in value...that WILL set off the Depression in Depression....so its puffed up ...melt up....today we will be up....even with Greece on strike...why is that important...because they will never repay what they owe...and how do you when you are not at work producing something....but no one seems to care if you do not pay back what you owe....

Wed, 10/19/2011 - 10:49 | 1788859 slewie the pi-rat
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"How could politicians and regulators screw it once more? Simply by not letting the losses fall upon those who made the wrong bets."

bingo, BiCheZ!

meanwhile, let's all think thru the implicaions of socialiZed gambling losses = more debt to compete with legitimate needs & limited resources, and Let Them Fail!

Fri, 10/21/2011 - 03:36 | 1796154 FoieGras
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Good stuff.

Sat, 10/22/2011 - 09:35 | 1799812 Scoted
Scoted's picture

This is a great article ZH. Gives a perspective on the upside rather than the eternally bearish.

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