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

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 08/12/2012 - 17:09 | 2699254 Mongo
Mongo's picture

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

Sun, 08/12/2012 - 17:15 | 2699267 graneros
graneros's picture

the one-eyed man is king   Fixed it.

Sun, 08/12/2012 - 17:22 | 2699284 Doña K
Doña K's picture

I think mongo left a window for a queen king.

Sun, 08/12/2012 - 17:32 | 2699304 francis_sawyer
francis_sawyer's picture

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

Sun, 08/12/2012 - 17:50 | 2699332 illyia
illyia's picture

Fight Club is king.

Sun, 08/12/2012 - 18:57 | 2699452 AldousHuxley
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:

http://www.youtube.com/watch?v=GMjGClS0ztc

 

This is how the most powerful government works today:

http://www.youtube.com/watch?v=xe1d32I_wUY

 

 

Sun, 08/12/2012 - 20:36 | 2699718 CompassionateFascist
CompassionateFascist's picture

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

Sun, 08/12/2012 - 22:34 | 2699957 Thomas
Thomas's picture

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

Mon, 08/13/2012 - 04:02 | 2700285 ebworthen
ebworthen's picture

No one expects the one-eyed viper!

Sun, 08/12/2012 - 17:53 | 2699333 Muppet of the U...
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?

Sun, 08/12/2012 - 18:09 | 2699368 max2205
max2205's picture

MFG went bankrupt

Sun, 08/12/2012 - 18:14 | 2699380 Muppet of the U...
Muppet of the Universe's picture

and?

Sun, 08/12/2012 - 18:24 | 2699393 MsCreant
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)

Sun, 08/12/2012 - 18:45 | 2699403 Muppet of the U...
Muppet of the Universe's picture

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

<--- so mad

Sun, 08/12/2012 - 18:53 | 2699443 A Nanny Moose
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.

 

Sun, 08/12/2012 - 18:58 | 2699450 Muppet of the U...
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.

Sun, 08/12/2012 - 21:23 | 2699841 francis_sawyer
francis_sawyer's picture

 "Charlie don't surf"!

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

Sun, 08/12/2012 - 19:02 | 2699459 nmewn
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.

Sun, 08/12/2012 - 23:08 | 2700012 RockyRacoon
RockyRacoon's picture

Good one.  Nice reminder of the details.

Mon, 08/13/2012 - 01:04 | 2700170 LMAOLORI
LMAOLORI's picture

 

nmewn

"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

REVEALED: CORZINE’S MF GLOBAL WAS CLIENT OF ERIC HOLDER’S LAW FIRM

 

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 (+/-)

Sun, 08/12/2012 - 18:23 | 2699394 Drachma
Drachma's picture

Odysseus is bukaked.

Sun, 08/12/2012 - 21:05 | 2699801 JohnKozac
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.....

Mon, 08/13/2012 - 06:20 | 2700350 AldousHuxley
AldousHuxley's picture

must be in arizona.

 

elsewhere, those jobs go to illegals for cash.

Sun, 08/12/2012 - 18:45 | 2699430 disabledvet
disabledvet's picture

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

Sun, 08/12/2012 - 19:24 | 2699532 This just in
This just in's picture

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

Sun, 08/12/2012 - 17:25 | 2699293 Mongo
Mongo's picture

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

Sun, 08/12/2012 - 17:45 | 2699327 Stuck on Zero
Stuck on Zero's picture

Time to leave Middle Earth.

 

Sun, 08/12/2012 - 18:41 | 2699421 resurger
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

Sun, 08/12/2012 - 17:36 | 2699311 icanhasbailout
icanhasbailout's picture

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

Sun, 08/12/2012 - 18:15 | 2699383 eddiebe
eddiebe's picture

The one eyed monk is king.

Sun, 08/12/2012 - 18:51 | 2699440 mick68
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.

Sun, 08/12/2012 - 17:13 | 2699259 hedgeisforpussies
hedgeisforpussies's picture

nothing different this time.

Sun, 08/12/2012 - 17:13 | 2699261 kornholio
kornholio's picture

Bullish

Sun, 08/12/2012 - 17:17 | 2699269 LawsofPhysics
LawsofPhysics's picture

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

Sun, 08/12/2012 - 17:17 | 2699274 There is No Spoon
There is No Spoon's picture

peak hysteresis

Sun, 08/12/2012 - 17:59 | 2699349 CH1
CH1's picture

Peak obedience.

Sun, 08/12/2012 - 18:52 | 2699442 Muppet of the U...
Muppet of the Universe's picture

but still not quite peak rape...

Sun, 08/12/2012 - 17:31 | 2699302 Tinky
Tinky's picture

No, that nuance escaped Klarman's unsophisticated eye.

Sun, 08/12/2012 - 18:35 | 2699411 Cognitive Dissonance
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.

Mon, 08/13/2012 - 00:00 | 2700093 AlaricBalth
AlaricBalth's picture

"Does not compute!" ***BOOM***

Sun, 08/12/2012 - 17:16 | 2699271 booboo
booboo's picture

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

Sun, 08/12/2012 - 17:17 | 2699273 franzpick
franzpick's picture

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

Sun, 08/12/2012 - 22:30 | 2699948 Anusocracy
Anusocracy's picture

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

Sun, 08/12/2012 - 17:18 | 2699275 luna_man
luna_man's picture

 

 

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

Sun, 08/12/2012 - 18:12 | 2699378 grid-b-gone
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.  

Sun, 08/12/2012 - 17:18 | 2699276 gwar5
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

Sun, 08/12/2012 - 17:44 | 2699323 Ungaro
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.

Sun, 08/12/2012 - 18:06 | 2699362 Umh
Umh's picture

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

Sun, 08/12/2012 - 19:24 | 2699526 gwar5
gwar5's picture

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

 

Do NOT follow this link or you will be banned from the site!