Jeff Gundlach Live Webcast On "The Decline And Fall Of The Roman Empire"

Tyler Durden's picture

The defining soundbite from the call Q&A: Regarding Bank of America - "It is wise to avoid banks. Not surprised BAC has gone up - just like NFLX - just like Italian bonds. Reduce risk right now, including, Bank of America."

While the star of multibillionaire Bill Gross may or may not be fading (the jury is still out on what the final outcome will be for the man who so far alone among his peers has dared to point out the lunacy in the Fed's actions), that of his far smaller and nimbler peer Jeff Gundlach of DoubleLine Capital has been rising rapidly, and at last check has his fund's AUMs at over $25 billion, a doubling in a few short months. Gundlach is conducting his periodic webcast live at 4:15pm Eastern (i.e., now) at the link below. Anyone can join in. And by the title of the presentaiton, it promises to be quite interesting.

Click on the following Link for webcast or the image below.

We will post the full presentation shortly, but here is one of the more telling charts:

And another: it's all downhill from here, as we pointed out first recently when doing our update on the Citi econ surprises chart.

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CClarity's picture

Oops. What link? Thanks.

Crisismode's picture

The Roman Empire did not "fall"


It had the carpet yanked out from under its feet.


And when you have feet of clay, it's hard to maintain your footing.


(This is sounding eerily familiar).

redpill's picture

I'm starting to think we are victims of propaganda.  They've been telling us for how long North Korea is a closed society?  And shit, just today I come across Youtube of them Party Rocking.

That would have been a great superbowl halftime show, look at that goose-steppin!

Dr. Richard Head's picture

Everyday I'm Kim Jong Illin'.

hedgeless_horseman's picture



Florida 2011 foreclosure rate 11.9%

My brain simply cannot comprehend that more one in ten homes in Florida were foreclosed on last year.

xela2200's picture

A lot of condos at the beach and in the downtown area.

There is a brand new McMansion near my house that looks just like the one in the picture. Nobody has EVER lived in the property since it was built 4 years ago.

The properties that can be priced based on rental income are holding their value (townhouse, condos, etc). For now.

AldousHuxley's picture

Roman Empire is still falling......Italy finally may be kicked out of G8,7,6....


British Empire still falling....


America was built over 300 years..... it will take a while for America to fall out....but opportunity cost may increase as other nation-states offer better deal.

Don Birnam's picture

Incredible -- indeed, a foreclosure rate of 11.9% is nearly one in eight.

Blotsky's picture

Add some iron to the mix and you have a less than desirable outcome.

HedgeAccordingly's picture

Everybody knows the dice are loaded. And the ship is leaking -

Silver Bug's picture

Lets make sure America doesn't become the next Rome. Support Ron pauls money bomb today! He is the only one that can stop the down fall!

resurger's picture

Reminds me of MuthaFucking Global

by Hoskin

Rome. It got started and we know it became great and then the bankers came in. And these were the same bankers that had come into Egypt and had taken over Egypt earlier in history. They took over Rome and one of the first things they did was run the farmers out of business. Because a farmer who produces his own food and through his cottage industry raises everything he needs doesn't need anything else or anybody. He's self-sufficient. So the first thing the bankers did was to go after the self-sufficient farms. The countryside was soon deserted but the city of Rome was almost a million people.

Then the taxes started. There's nothing too good for the political leaders. You could hire a Roman army and with that army go in and whip another province or country and rule that country for a year or two and then you had to turn it over to the Roman government. But during that year or two everything that you got out of that country was yours. If you were a banker and could afford to hire a Roman army, in many cases it was really worth it.

It ended up with only five banking families owning all of Rome. Where were the Romans? They had moved out because the taxes they had to pay were unbearable. Each child that was born was taxed and since the girl babies produced less than the boy babies, they left the girl babies out in the open to die of exposure. At the time of Jesus there were more Greeks and Greek slaves being buried in Roman cemeteries than there were Romans. There were almost no Romans left in Italy. They had gone to North Africa, Spain and France and all over the place. For armies the Romans had to hire Germans, Syrians and soldiers from all over.

Dermasolarapaterraphatrima's picture

reusurger, that's what I read also. Many farmers actually welcomed the "barbarians" with open arms since they abolished taxes and encourages farmers to do what they do and sell their crops in the market at market price.

Xkwisetly Paneful's picture

of course any once prosperous place is usually left with the ruling elite in shambles while the oppressed are the ones who fled.  Mobility and the ability to extricate oneself from oppression is a hallmark of the downtrodden. Just like unicorn piss is the fuel of the future.


Ropingdown's picture

They estimate that agricultural productivity fell 80% under the Empire, but was as productive as pre-empire once freed from the empire's control.

Xkwisetly Paneful's picture

So they said during the dark ages the farms were 4times as productive as under the empire.


socalat_Kruger's's picture

the roman empire was a ponzi scheme. conquest brought slaves, wealth and land. this funded further armies to conquer more lands etc. like all ponzi schemes all was well as long as the empire continued to grow. as soon as it stopped growing the cycle was broken and the ponzi scheme fell over. growth problems started much earlier then some might think: specifically the battle of teutoburg forest where the germans kicked some latin ass.

trajan gave expansion another go - this time in mesopotamia.. he invaded iraq, this ended up just bleeding men and money.

so how do you maintain the ponzi if you aren't growing your real economy? quantitive easing! they debased the currency by the minting of coins with less and less gold and silver content...

there could be no middle class recovery as the middle class had already been destroyed through land conviscation and 'labour outsourcing' (slave labour)

Nolsgrad's picture

linkie no workie

Bob's picture

Damn, I was all over that.  Link problem . . .

francis_sawyer's picture

Madonna hired about 200 unemployed Roman Empire slaves to tow her barge in during the SuperBowl...



Bárðarbunga's picture

An error occured processing your request. Please close your web browser and try again.

dwdollar's picture

Probably have to give us the presentation number?

Beard of Zeus's picture

When reporting the problem, please note reference # 61659

I am a Man I am Forty's picture

OT: who has two thumbs and owns a shit ton of apple and is up more than 100%? answer: (my thumbs pointing towards me) this guy

CH1's picture

Stay ready to sell and short, my friend.

carbonmutant's picture

Great slide presentation....

Too bad we can't post graphics.

BlackholeDivestment's picture This is way beyond par for the MADonna Halftime


carbonmutant's picture

What happens when the stimulus ends...

AnAnonymous's picture

There will be less resources in the world as US citizens will have swallowed anything they got against their bitcoins.

carbonmutant's picture

That was the topic of one of the slides...

JR's picture

The United States and European Union are suffering the same tyranny.

The political leaders in Greece who voted for this latest bailout of the bankers’ euro zone, sacrificing the welfare of their people, remind one of the American Congress and the administration, working with the private bankers to sacrifice the well being, prosperity and future of the American people.

The Greek people asked for this punishment no more than Americans asked to have their country tyrannized and ravaged by a private banking cartel, no more than Americans asked to be ruled by Obama, or the people who took our currency and used it for their own personal wealth.

To understand the profound impact of America’s founding and her Constitution on freedom and the fulfillment of the American economic dream, it is imperative to listen to Daniel Hannan’s speech this past weekend at CPAC 2012, “God Bless the Alliance of Free English-Speaking Nations”.

Hannan, a member of the European Parliament, notes how Europe is rushing toward statist overreach with America not now far behind:

“We are screeching toward the cliff, and a couple of us…are trying to jam the brakes on while there’s still time. And we look up into the rear-view mirror, and what do we see? We see you, trying to overtake us!”

In a review of Hannan’s speech,,Bill Hobbs writes that while advocating  " ... small government, big citizen ...", Hannan told the CPAC Republicans:

"Honour the vision of your Founders, cleave to the most divine Constitution devised by human intelligence. Don't be the generation that cuts itself off from the wisdom of your fathers and disinherit your children. Never be afraid to speak to and for the soul of this nation of which, by good fortune and God's grace, you are privileged to be part.

 “To see what makes the US constitution special just look at the others.”

Said Hobbs, “Hannan said that the UK has ceased to be a democracy and ceded its sovereignty to the EU.  He noted the similarities of Thomas Jefferson’s grievances to King George in the Declaration of the Independence to the criticisms of the EU.

In short, according to Hannan (and reality), destroy America’s Constitution and America will become less prosperous, less independent, less Democratic, and less free as have the European nations who have been on a quick march to socialism for many years, while openly socialist nations such as Greece are now bankrupt…

Bob's picture

Honour the vision of your Founders, cleave to the most divine Constitution devised by human intelligence. Don't be the generation that cuts itself off from the wisdom of your fathers and disinherit your children. Never be afraid to speak to and for the soul of this nation of which, by good fortune and God's grace, you are privileged to be part.

 To see what makes the US constitution special just look at the others.

WTF?! It sounds like a mystical incantation. 

JR's picture

I don’t think he was talking to you, because if significant reforms are to be taken, they will be taken by people who know what Mr. Hannan is talking about.


Bob's picture

That's what worries me, JR.  Arguments should be made in standard terms subject to reasoned evaluation, it seems to me. 

I have to drink koolaid to get it?  Just sayin, man. 

Peace Out, JR.  :)


JR's picture

Bob, make that Maker’s Mark and we can wax poetic even better than a poet’s poet or Hannan or even James Madison. Interesting that the Founding Fathers did not want or anticipate political parties, believing they would only destroy representative government, representing only narrow interests and eschewing the common good.

Thomas Jefferson swore, "If I could not go to heaven but with a party, I would not go there at all."

To paraphrase Hannan using John Quincy Adams: “We soon concluded that aristocracy, feudality, nobility, could not be reconciled with a Government founded upon rights." – 1795

And with respect to John Quincy, nor with international bankers who know no fatherland and respect the rights of no man or government.

Peace, partner. Always enjoy our debates.


knightowl77's picture

You should overlay Hanna's speech with the one by Ginsburg saying that we shouldn't look to our constitution, but newer ones like South Africa! WTF si up with that?

sbenard's picture

I'm pretty sure he's spelling the word "Roman" thus:


The Decline and Fall of the American Empire!

Black Forest's picture

Maybe he means just his balance sheet.

RobotTrader's picture

Did Gundlach anticipate yet another world record closing high for the XRT today?


Zero Govt's picture

Robo, i'll give you 10/10 for persistence despite almost always being wrong ..have you thought about doing PR for Paul Krugman?

Richard Head's picture

"World record" - you sound like a major douche.

akak's picture

I hear the stock market in Weimar Germany had "world record breaking" closes just about every day for a couple of years, too.

Use of Weapons's picture

Hmm. I'd be interested in those slides / a recording.


Many people get the "Fall of the Roman Empire" so wrong, it'd be instructive to see if he knows his history (which he should, if managing $25bil).