It Is A Strange World We Inhabit

Tyler Durden's picture

Seth Klarman sums up everything:

"The market roller coaster of 2012 continues. Speedy ascents. Sudden plummets. Unexpected twists and turns. Gut-wrenching volatility, only to end up where you began."


"It is a strange world we inhabit. One where economies remain extremely depressed yet almost no companies go bankrupt, while low interest rates encourage holders of capital to speculate. One where global turmoil mounts while the world passively watches. One where nearly every member of Congress will insist that we need to rein in deficit spending, while collectively Congress accomplishes virtually nothing. It would be absurdly funny if it weren’t so incredibly tragic."

Source: Baupost Q2 Letter

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Mongo's picture

In the land of the blind, the one-eyed is king

graneros's picture

the one-eyed man is king   Fixed it.

Doña K's picture

I think mongo left a window for a queen king.

francis_sawyer's picture

In the land of the one eyed monster... [insert tag line here]...

AldousHuxley's picture

it is only strange if you belive that you are somehow normal and normal is what the world should be.

Truth is much more stark. That's why we have religion, politics, intellectuals, entertainers to brainwash us into believing that somehow our lives are normal and perhaps even good.


well sorry to disappoint...


This is how the US government worked almost 100 years ago:


This is how the most powerful government works today:



CompassionateFascist's picture

1939? HollywoodJew Frank Capra? Aside from a few truthtellers like Lindbergh, it was as corrupt then as it is now.

Thomas's picture

When Clinton was president, the one-eyed trouser snake was king.

ebworthen's picture

No one expects the one-eyed viper!

Muppet of the Universe's picture

called long soy over corn later in the year, chop up to 13000+, long oil @ 80, short oil at 92.50, long oil at 87, long gold silver pattern playing, Short KCG, lol. Long vix short Tvix.  One eyed monsters win.  Lookin for uvxy reverse split maybe?

MsCreant's picture

Who holds your money for you Muppet Cakes?

She take my money when I'm in need
Yeah she's a trifling friend indeed
Oh she's a gold digger way over town
That dig's on me

(Kanye West)

Muppet of the Universe's picture

my money is diversified across 3 clearing firms and 4 brokerages.  diversify bitches- zero hedge.

<--- so mad

A Nanny Moose's picture

Doesn't matter. It's as if Charles realy is in charge....

When I get to the bottom I go back to the top of the slide
Where I stop and I turn and I go for a ride
Till I get to the bottom and I see you again.


Muppet of the Universe's picture

yea yea, all you technical stock traders lost money cause the stupid game you were playing could be played 10X better by bots.  Keep telling yourself fundamentals don't matter. Meanwhile I'll be buying BDSI @ 2 bucks and Shorting Znga from 13 and fatboy from 31.

francis_sawyer's picture

 "Charlie don't surf"!

...all your electronic fiats are belong to us...

nmewn's picture

Not enough has been said about Covington & Burling or Morrison & Foerester.

Pretty apparent when law makers can slip into a different role as law enforcer simply by changing hats...and then so easily slide back into the abyss of law breaker that something is deeply flawed.

There was a time (in the not to distant past) the words "conflict of interest" meant something.

RockyRacoon's picture

Good one.  Nice reminder of the details.

LMAOLORI's picture



"Not enough has been said about Covington & Burling or Morrison & Foerester."


Do you know that same firm was around for the Pecora Investigations


The Justice Department’s MF Global Scandal Dates to 1932



Remember this?  

BREAKING: Pelosi Calls For Pecora Commission

What we got instead from Dear Madam

Wall Street’s Collapse To Be Mystery Forever

and this

CONVICTED: Bush 1300+, Clinton 1000+, Obama 0.0 (+/-)

JohnKozac's picture

Indeed, 'tis "a strange world" out there. My neighbor's son graduated with a BA in basket weaving and already has 6 job offers -- so it ain't so bad:

1. McD's;

2. Sam Walton's enterprise, Walmart;

3. Wendy's;

4. the Colonel's restaurant;

5. Popeye's; and, finally,

6. the Dollar Store.

He's not worried about his $36,750 gubberment loans... he says  he expects Ob*ma will take care of it.

Strange world these days.....strange.....

AldousHuxley's picture

must be in arizona.


elsewhere, those jobs go to illegals for cash.

disabledvet's picture

Maybe he meant "the brown eye." he is Mongo after all...

This just in's picture

In the land of the blind, the Queen King slays the one eyed trouser serpent.

Mongo's picture

The age of men is over, the time of the bankster has come

Stuck on Zero's picture

Time to leave Middle Earth.


resurger's picture

It's so fucking funny, i read on daily bail that the DOJ during:

Bush administration it prosecuted: 1,300

Clinton administration it prosecuted: 1,000

Obama administration it prosecuted: Nada

Louis XIV, Bitchez

icanhasbailout's picture

they're all snakes, which would make the one-eyed snake king... that matches the empirical evidence precisely

eddiebe's picture

The one eyed monk is king.

mick68's picture

"In the last days men will surround themselves with teachers who tickle their ears with lies."


Leaders lie continually and the people love the lies, so much more fun than the truth......until it all comes crashing in.

hedgeisforpussies's picture

nothing different this time.

LawsofPhysics's picture

Peak cognative dissonance. He does realize that volitility is a day traders wet dream right?

Tinky's picture

No, that nuance escaped Klarman's unsophisticated eye.

Cognitive Dissonance's picture

You rang?

The funny thing is that Cognitive Dissonance can never peak, just die a horrible death at the hands of reality or mental breakdown.......whichever comes first.

booboo's picture

and the toothless carney running the Splatterhorn ride and looking up your moms dress is named Ben Shalom. Let me off.

franzpick's picture

Members of congress, and the administration, swim daily in the Sea of Knowledge, emerging completely dry...

Anusocracy's picture

They can't think outside their box and their box is empty.

luna_man's picture



And what else...Can't wait to vote in the next CRIMINAL!

grid-b-gone's picture

The standard $8 million presidential book deal may not be worth the bother for one who already makes that much in five months, so either the price goes way up or we get a ghost-written instant number one that even he will not have read.  

gwar5's picture

Perhaps it's not strange at all, just new to the West. The Soviet Union managed to do such things for 70 years before finally collapsing. It's what happens when the economy is all fake and everything is manipulated and manufactured.


"The worst part of living under communism is living a lie."  -- Alexandr Solzhenitsyn

Ungaro's picture

We live in a much faster world. Instead of a Soviet-style 5-year plan (which is always surpassed), we have 100-day plans (watch for it come Jan. 20). At this rate, a 70-year collapse should only take 18.26 years... Kondratiev, eat your heart out.

Umh's picture

There is always a reason that it is different this time.

gwar5's picture

Excellent point. Certainly explains the daily quickening of death rattles.