The Spirit Is Willing, But The Flesh Is Weak

Tyler Durden's picture

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mick_richfield's picture

Jeder fÜr sich, und Fed gegen alles.

TruthInSunshine's picture



Get your LSAP, more Crony Capitalism & more stealth BAILOUTS on!

09-26 10:05: Fed's Bullard says asset purchases most effective tool for Federal Reserve to ease policy with rates near zero percent


In the meantime, housing isn't deeply depressed. Housing is in a true state of deep depression (there is a difference) that it won't emerge from for YEARS. The entire psychology of buyers has been inverted completely:

New U.S. home sales fall 2.3% in August to 295000 - MarketWatch

18 minutes ago WASHINGTON (MarketWatch) - The sale of new U.S. homes fell 2.3% in August to an annual rate of 295000.

To put that into perspective, there are fewer new homes being sold, even with mortgage rates at near or absolute all-time lows, than any time since this data has been tracked, including even in the late 1950s or early 1960s, than when the population of the U.S. was around 164 million citizens, or roughly half of where the population stands today.

And again, to highlight why Bullard is a criminal, intent on doing more bank & Wall Street bailouts, he'd rather go ahead with more LSAP, even though it does NOTHING to stimulate job growth or stimulate demand for goods and services on Main Street, which is the reason housing and so many other indicators of U.S. (and global) economic health are flashing the Depression Signal.

It's all about job creation (and the corollary wages and benefits). Everything else follows this most fundamental of economic signals without exception. After an OFFICIAL print of ZERO new jobs last month, when it takes 164,000 new jobs (using reliable and accurate data) to merely keep pace with population growth, and we're printing 0, and we'll soon be seeing negative jobs prints again (after the government and Federal Reserve and vacuumed 5.3 trillion in taxpayer money out taxpayers' pockets, and given total assistance of somw 12 trillion either directly or in backstop guarantees to Wall Street & the Banking sector), look out below.

B9K9's picture

TiS, I've always enjoyed your well thought out & reasoned comments, but you're beginning to tread dangerously close to Denninger & Blackswan (JR @ ZH) territory. In other words, you appear to believe your own rhetoric, as if logic might finally prevail and enlighten the masses.

We, as a global society/market, are well past the point where any of these proposed programs not only have -0- chance of success, but are pitched with any attempt @ pretending they will have any positive, restorative effect.

However, that is not the issue; the point of this entire exercise of the absurd is simply to allow TPTB to buy more time in order to position themselves to continue to rule after the rubble clears. Think of 3-card monte: the day-day stuff is all a diversion.

Ask yourself this: what is the long-term outcome? If we are all honest, we know where this is leading. That means no more Fed, no more centrally coordiniated national/internal trade/finance, etc.

Foget the noise and focus on building a community that might have a real chance @ going after these criminals after the reset.

bankonzhongguo's picture

Meine krankenschwester maschinengewehr ist kaputt!

(The only German I ever remembered.)

kurzdump's picture

This means "my nurse machine gun is broken". You'd rather say "Krankenschwester, mein Maschinengewehr ist kaputt!"

mick_richfield's picture

You should also learn to say:  Where is the post office?

Here you go:     Hätscheln Sie bitte meine Hinterteile.

I'm always happy to help out a fellow ZHer.

DormRoom's picture

like I said, Large Hadron Collider is an improbability drive instantiating sigma 6+ events in this worldline to prevent the Higgs Boson from being discovered.

End of Eurozone, and world-wide financial collpase expected by Christmas, just in time to stop the LHC from increasing its energy beams.


Faster than light travel (recent news) implies backward causality.  The future can effect the past.

eisley79's picture

standard model is wrong, they are trying to invent answers, to make their equations work.  that's why there hasnt been any significant progress since the 70s/80s.


Time to get back to reality, falsifiable science, and like the banksters, admit the system is fundamentally and fatally flawed.

Tense INDIAN's picture

just like Darwin kept on trying to find facts to FIT his BOGUS 2-penny Monkey-to MAN theory

falak pema's picture

So who made you man into a past tense being? Adam and eve bogus?

My lipstick marks tell me Eve is a ZH favorite.

eisley79's picture

i think you smelled burnt toast while writing that...please try again using sentences, or at least small clusters of related words...

SheepDog-One's picture

Working wrist watch found in unearthed China tomb at least 500 years old.

DormRoom's picture

Mystery as century-old Swiss watch discovered in ancient tomb sealed for 400 years

Read more:

kurzdump's picture

If that's true we better buy CHF as Switzerland will still be there in future.

macholatte's picture

The mysterious timepiece was encrusted in mud and rock and had stopped at 10:06 am.

why not 10:06 PM ? 

falak pema's picture

Was Marco Polo already working for Omega then? I thought cuckoo clocks began in Renaissance. Maybe Omega was called alpha before the cuckoo clock was invented and was already financing the Polos. 

BTW : the Mamelukes played polo in those Marco Polo days, just saying...

bbq on whitehouse lawn's picture

Hadron Collider is a toy. Built by children who wanted to prove what just wasn't so. Like the euro and the euro-zone. Both of these people share the same flaw in thinking,  Just because you think something is true dont make it so.  But some never give up trying to prove that they are right and nature is wrong.

To bad they will never understand that they are the error, not nature.

M.B. Drapier's picture

Well, the neutrons do pass over the Swiss/Italian border, a place where all kinds of strange things happen.

doomandbloom's picture

I see debt people's spirits...!

traditionalfunds's picture

ECB rumors plays well into end of Q institutional markups. Step aside please. 

Gandalf6900's picture

Poor Italy, a scared little lamb in a wolf den...

Mercury's picture

Actually that only describes Parlamento Italiano's female interns...

Treason Season's picture

Between the Mafia and the Vactican it never had a chance.

Peter K's picture

I think you miss the point of the exersize. The point is to save the Euro (and the honor of France and the undervalued DMark). (And.. I almost forgot..... break the USD hegemony). Everything else is of secondary importance.  Including the world economy. Vive le France:)

Mercury's picture

 Maybe the problem wasn’t Lehman defaulting and it was just another piece of a bigger uglier puzzle and we are so busy trying to avoid another “Lehman Moment” that we have lost sight of whether it is that important to avoid a default?

Yeah...we're in the mess we're in largely because there haven't been enough "Lehman moments".

Sambo's picture

The ugly puzzle is composed of Lehman-like pieces only. Think hologram...the whole is contained in the piece.

pauhana's picture

A psychotic chihuahua and a dim witted cat couldn't do any worse.

kito's picture

gold now at 1607. recession and deflation bitchezzzzzzzzz

falak pema's picture

1492... and it'll be Cristopher Columbus time and his over boiled egg!

falak pema's picture

the father of the euro, Jacques Delors, now feels the euro experiment is over...The general feeing is that Merkel cannot swing a leveraged EFSF onto her constituents. A Eurobonds issue, w/O fiscal harmony and/or a two tier euro monetary deal, or a single one with revised currency pegs to euro in a new monetary system mix for club med countries, is just impossible. Trying to restructure the EUro on say devalued pegs of club med original currency marked down "30% or 40% for PIGs (and E Europe), means a whole new treaty with 17 nations! ....That is structurally impossible to get agreement on with each member. SO its damned if you don't change EFSF rules and damned if you do change rules, as either way it won't work. 

The simplest solution could be for Germany to walk away from euro and let 'club med' find a devalued peg to new north euro Deutsch mark. Then create a new eurozone in ten years time after this crisis. But a revalued DM means commercial pain for mercantile Germany and northern partners in a depressionary climate. No easy way out of this western civilization mess. The Oligarchs will continue to use international  labour arbitrage world wide and try preserve the current free wheeling ponzi banksta architecture. It's unsustainable, so it'll all collapse before 2015, when US debts become explosive at 150% of GDP and USD will burn to ground as reserve currency. The Euro crisis if left unresolved is antichamber to capitalist meltdown. That's why its do or die time. Merkel may be tempted in the coming four weeks to go all in and try and brazen her way against market wisdom. What a pandora's box this is turning out to be.

If we all ate humble pie for ten years and stopped playing these huge artificial constructs. Let the banks burn. And the Oligarchs disappear. But that is pie in the sky. They own us, not us them. So the show goes on...

fwchiro's picture

Ursula von der Leyen already proposed the solution; Germany will backstop everything....but all your gold are belong to us.  Simple, effective and a completion of the work they started 1914...

tim73's picture

Like many Greeks say, default is meaningless unless there will be many real reforms inside the public sector of Greece. Otherwise the same game would continue until the next, even worse collapse.

Too many leeches in Greece are benefiting still from the current system, in forms of bribes and high salaries. The system is completely fubar. Something like mafia era of Las Vegas from 50's to 70's.

BTW, according to poll in Kathimerini newspaper, released yesterday, 66 percent of Greeks want to STAY IN EUROZONE. It is not the fault of euro, it is the corrupted system.

Sudden Debt's picture


M.B. Drapier's picture

Only if we can then reject the solution as unacceptable, like we did last time.

Caviar Emptor's picture

Maybe more time should be spent determining if Lehman was “solely” responsible for the problems in late 2008 and early 2009?'re getting warmer...and I think you know the answer, Tyler. 

Lehman merely confirmed that "the fundamentals of our economy are Not sound". It shattered the myth of rock solid invincibility. It proved that all the higher order mathematics regarding risk were wrong and free-markets are not self-correcting. People are quick to forget that Lehman came after more than a full year of creeping credit market contagion. Once again the lesson was learned that paper gains are a mirage. The giant paper pyramid was clearly visible for everyone to see. 

SheepDog-One's picture

What, the 75% Borrow and Consume economic model of the US was doomed from the start then? Hard to believe!

sultan_selim's picture

This is the best analysis of the EFSF debacle that I've read so far. 

blueridgeviews's picture

Whether it is important to avoid a default???? First you have to ask: is it important to whom? The regular Joe or the bankers and their minion politicians?

IMO, if their are no defaults and a purge of all the bad debt then the powers that be are going to tie everyone to the debt anchor, throw it overboard, and everyone, except the people holding the anchor line, will be sunk (bankers and politicians will be holding the anchor line).

I for one am getting a headache listening to these self congratulatory elitists make the same argument time and again "we need more money for bailouts". What a freaking joke of a financial system! Is everyone that filled with self greed that they will let this fleecing of taxpayers and prudent savers continue? UGH!

Cone of Uncertainty's picture

There are way too many fucking letter A's on that table.

adr's picture

Those A's are like the A's in a gradeschool that decided giving kids different grades is wrong. Even the idiot in the back that never shows up gets an A.