This page has been archived and commenting is disabled.

Thunder Road Report Update: "Dear Portfolio Manager, You Are Heading Into A Full-Spectrum Crisis."

Tyler Durden's picture


Paul Mylchreest, author of the Thunder Road, releases his much anticipated latest report, and it's a doozy: "2012: Dear Portfolio Manager, you are leaving the capitalist sector and heading into a full-spectrum crisis." He continues: "You were to hear a report on the world crisis. That is what you are going to hear. For twelve years you have been asking: Who is John Galt? This is John Galt speaking….Now it’s  getting serious. 2012 will be a year to remember as the globalist agenda comes into focus amidst economic and geo-political crises: The titles of the last two Thunder Road Reports were prefaced with “Helter Skelter” - “The Illusion of Market Stability” followed by “Gentlemen Start Your Engines”. Sadly, the Helter Skelter I was writing about – the second part of the Great Financial Crisis is in progress and I’m expecting it to come to a head next year (2013 if we’re very lucky). The only question is WHAT brings it to a head? We’re not short of possible causes – a bank failure, sovereign default, Eurozone tipping into recession or the Middle East. Despite all the evidence to the contrary, like overwhelming debt levels and insolvent banks/sovereigns, the consensus seems convinced that we can “muddle through”. Dow Theory veteran, Richard Russell, explained it best: “In the coming two or three years we will be going through unprecedented situations beyond the understanding of most analysts.”"

From the report:

  • The turbocharged, debt-driven over-consumption of past decades must be undone. The strong medicine could and should have been taken years ago. As the primary architect, Greenspan shoulders much blame, but shrugs it off. The financial system is already past the point of no return (“In my mind and in my car, we can’t rewind we’ve gone too far”) – and we are on the brink of a TSUNAMI of new money/credit creation to delay its failure. This will be the final run to the summit of the Ponzi scheme. All Ponzi schemes end and there will have to be a system reboot. This is a “Crisis of the Ages”;
  • To maintain credibility in the face of insane monetary/fiscal policies, a scapegoat for the coming surge in inflation would be helpful to TPTB, perhaps even necessary. The conflict in the Middle East and North Africa is almost certain to escalate, threatening to disrupt world oil supply. A surging oil price could be blamed as an “unexpected” external shock for the “unexpected” surge in inflation, which central bankers have repeatedly assured us (falsely) is not on the horizon. Since the creation of the Federal Reserve in 1913, the purchasing power of the US dollar has already declined by 98% (using the Fed’s own data). With a track record like that, the last 2% is not going to be difficult. Substantial declines in the purchasing power of the Euro, Yen and Sterling are likely to precede the dollar, especially if the oil price surges (importing nations will need to hold more dollars);
  • BBWestern nations are at increased risk of false flag events as part of a “Strategy of tension” – be prepared then you won’t be surprised. Wikipedia: “The strategy of tension is a theory that describes how to divide, manipulate, and control public opinion using fear, propaganda,  disinformation, psychological warfare, agents provocateurs, and false flag t------st actions. The theory began with allegations that the United States government and the Greek military junta of 1967–1974 supported farright t------st groups in Italy and Turkey, where communism was growing in popularity, to spread panic among the population who would in turn demand stronger and more dictatorial governments.” TPTB might prefer a distracted, pliant and fearful public; and
  • The majority of people probably won’t agree (yet) with much of this paragraph, but we are in a chain of events where the direction of travel is: INFLATIONISM - INTERVENTIONISM - SOCIALISM - REDUCED LIVING STANDARDS - TOTALITARIANISM. Elements of all of them are already present to a greater or lesser extent, as I’ll discuss. Of course, the earlier ones, inflationism and interventionism (which Ludwig Von Mises described as “socialism by installments”), are the most obvious. What we are experiencing was prophesied in fictional form by Ayn Rand in her masterpiece “Atlas Shrugged” when it was published in 1957. I’m reading it and it’s amazing.

This process raises interesting questions regarding asset allocation and while not all of them are very palatable, we are where we are. Let me outline my analytical framework for the big picture (rather than individual stocks) then highlight the key lessons from this report which, it turned out, fit into the framework:

Kondratieff Cycles: back to the dawn (almost) of the Industrial Revolution in 1788 - nominal GDP, real GDP growth, inflation, debt, interest rates and the performance of the key asset classes – stocks, bonds, commodities, gold and real estate. I only know of one other person (Ian Gordon) on the planet who has modelled this in detail, although there may be others. Joseph Schumpeter, who never did say which two of his three goals in life he achieved (to be the greatest economist in the world, the best horseman in Austria and the greatest lover in all of Vienna), had this to say:

“The Kondratieff Wave is the single most important tool in economic forecasting.”

Unfortunately my model of the Kondratieff Cycle is SCREAMING depression and reduction in living standards.

The mechanics of the four great price waves during the last millenium: Medieval, the “Price Revolution” of the 16th to the first half of the 17th centuries, 18th century-early 19th century and the (rather important) current one;

Geopolitics: Mackinder’s Heartland theory, Brzezinksi’s “The Grand Chessboard”, Paul Kennedy’s “The Rise and Fall of Great Powers”, Project for the New American Century, and numerous works on the decline of the Roman Empire due to the startling parallels with the US (as  documented in Thunder Road Report 23);

Demographics: like Harry S. Dent’s work on the predictable nature of consumer spending based on family formation pattern. The US birth rate peaked in 1961 (UK was similar) and peak earnings/spending of the average citizen is 48.5 years of age - as they say in America “you do the math”. The baby boomers’ kids will be coming out of college…!

Market interventions by the authorities: the Gold Cartel (the Gold Anti-Trust Action Committee - GATA - deserves immense recognition here), silver (Ted Butler likewise), equities via the President’s Working Group on Financial Markets and let’s not forget the Counterparty Risk Management Policy Group and the US Treasury Secretary’s gigantic slush fund, the Exchange Stabilization Fund. By the way, Bill Murphy’s Midas column on the Le Metropole Café website is the first thing I have read every day for six years and not just for gold.

Exter’s pyramid: a central banker who believed in sound money and his theory of capital flows in a major crisis is playing out right now. Speculative capital moves down through the credit instruments as, one by one, each credit instrument loses its “moneyness” – the last one being the US dollar/Treasury complex. The final destination is the only asset which doesn’t pay a yield – it doesn’t need to – it’s the ONLY one without counterparty risk in the biggest debt crisis in history.

The nature and history of money: I’m tempted to cite Francisco d’Anconia’s speech about money in Atlas Shrugged and Roy Jastram’s “The Golden Constant” - a key empirical study of how gold outperformed in both inflationary AND deflationary periods since the 16th century  (although it neglects today’s Gold Cartel and that alogorithm which only allows gold to rise on “risk on” days);

The globalist agenda: NWO, CFR, Rhodes, Trilateral Commission, Bilderberg, Club of Rome, etc. Few people in the markets incorporate its impact despite: i) it is heavily documented; and ii) it provides the context for so many world events - which suddenly lose their apparent “randomness”;

“Austrian” economic theory: especially Ludwig Von Mises’ work in relation to credit bubbles and free market capitalism; and

Studying financial history mixed with pattern recognition with the above.

Without a framework with which you can see beyond the short term, it’s getting more and more like being a spectator at a tennis match. Look at the equity market recently, or gold and silver, where the prices have fallen as the banking system disintegrates. Markets are all over the place, as more and more holes in the dyke burst open.

The main lessons I learnt from this report are about SOCIALISM and its impact on financial markets. For example:

  • How far we’ve departed from the ideal of free-market capitalism and how far the Socialist takeover has advanced;
  • How the style of the Socialist takeover has elements of both the extreme left and the extreme right (“national”) on the political spectrum – not only making it harder to categorise, but also harder to see; and
  • What I think that this means for asset allocation.

Let’s take the last point and consider some of the key themes:

  • Socialism from the Left: government taking a greater share of GDP, lower living standards and debasement of currencies;

Combined with:

  • Socialism from the Right: government largesse and corruption with certain large corporate interests which serve the purposes of the state, military adventurism and a much more controlled society.

If it looks like a duck and quacks like a duck…

The source of this whole chain of events is inflationism and the debasement of currencies. As it unfolds, gold and silver increasingly become the critical assets to hold in order to safeguard capital. Currently, prices are being held down to hide the wreckage of the financial system and enable TPTB to load up. Market prices and demand for physical metal are temporarily disconnected. Going forward, essential items, like food and energy (especially crude oil) will account for a larger share of the “economic pie” as living standards decline and inflation increases. In contrast, items like luxury goods and diamonds (not a store of wealth) will suffer. I’m not planning on being short oil in 2012 as it strikes me as incredibly dangerous. The oil sector, along with defence, should benefit from the crossover of socialism from both the “left” and the “right” (military adventurism and the potential for conflict in the Middle East). Defence contractors are big beneficiaries of government contracts and lasting cuts to military spending rarely feature in declining empires. But of all the sectors which are “in bed” with governments, none come close to the major banks. However, I don’t care what happens to their share prices, EVERYTHING I have learnt as an analyst tells me not to touch them as investments. The accounting principles used for both the balance sheets and P&L accounts render them almost meaningless and that’s before taking account of OTC derivatives exposure and counterparty risk which can scarcely be imagined. You can’t even get close to analysing them properly and it’s legitimate to question whether professional investors managing money for pension funds, for example, should hold any major bank stocks at all?

Full report (pdf):



- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 12/19/2011 - 13:26 | 1994563 GeneMarchbanks
GeneMarchbanks's picture

Richard Russell's interviews from the early 2000s about housing and gold were incredibly accurate and timely. Next 2-3 years will be fun for those forearmed.

Mon, 12/19/2011 - 13:30 | 1994578 johnu78
johnu78's picture

Things are getting worse by the day!



Mon, 12/19/2011 - 13:45 | 1994629 DoChenRollingBearing
DoChenRollingBearing's picture

One small but nice point the author raised is that it is essentially impossible to analyze the banks.  I NEVER did well by investing in (or speculating on) things I did not understand.

Things are indeed getting worse by the day.  Extreme caution is warranted here.  Hard assets, close at hand, will help save each one of us who does so.

Gold, silver, platinum and genuine FRNs held there in the safe (say, three months worth of expenses).  And hold no debts.

Maybe survival stuff like medicines, water & food, guns & ammo, etc.

Mon, 12/19/2011 - 13:56 | 1994679 strannick
strannick's picture

Mylcreest talks of Exeter's inverted pyramid of derivative money collapsing into the bottleneck of gold, for an eventual gold price that would make Alf Fields blush

Mon, 12/19/2011 - 14:00 | 1994699 trav7777
trav7777's picture

gold isn't any realer than platinum or the appliances that flew off shelves in venezuela.

Mon, 12/19/2011 - 14:15 | 1994760 MillionDollarBonus_
MillionDollarBonus_'s picture

Only the doomer libertarian community could have the arrogance to claim that top portfolio managers are not up to their own game. These professionals have studied the most advanced portfolio theory and the CAPM. They are well equipped to guide clients through any crisis.

Mon, 12/19/2011 - 14:21 | 1994778 OldTrooper
OldTrooper's picture

Ha ha ha ha!  ROTFL!  Thanks for that!

Mon, 12/19/2011 - 14:26 | 1994809 strannick
strannick's picture

I gotta assume you are kidding, and so I give you a +1

Mon, 12/19/2011 - 14:47 | 1994906 Buckaroo Banzai
Buckaroo Banzai's picture

Million Dollar Bonus is possibly the most infamous-- and amusing-- troll on this site.

Mon, 12/19/2011 - 14:31 | 1994829 JW n FL
JW n FL's picture




Gid Bless You and Yours!

Mon, 12/19/2011 - 14:33 | 1994844 mtomato2
mtomato2's picture

It's humor like this that keeps me comin' back!

Mon, 12/19/2011 - 14:37 | 1994859 CIABS
CIABS's picture

trav, you might be right, depending on circumstances.  can you save me the trouble of searching for your specific recommendations?  thanks in advance.

Mon, 12/19/2011 - 14:37 | 1994864 Calmyourself
Calmyourself's picture

MDB the juxtaposition to reality and the talking heads on CNBC you provide is a valuable service especially to newbies.  Merry Xmas Tyler.

Mon, 12/19/2011 - 14:42 | 1994892 WonderDawg
WonderDawg's picture

Just like Corzine did?

Mon, 12/19/2011 - 15:49 | 1994926 LynRobison
LynRobison's picture

Yes indeed, "top men" are working on it. They will no doubt produce a workable solution to sovereign indebtedness that can never be repaid. Back in the real world, sovereign default or hyperinflation, that is the future. 

Mon, 12/19/2011 - 22:29 | 1996329 tekhneek
tekhneek's picture

Is that a Ruger SP101 as your avatar?

Mon, 12/19/2011 - 15:04 | 1994951 Smiddywesson
Smiddywesson's picture

MDB:  You really are a poor substitute for Robo (too over the top), but now that I think of it, there's a very familiar tone to your rap that makes me think you ARE Robo.

Tell Tyler you need a day or two off for the holidays, you've earned it.

Mon, 12/19/2011 - 15:08 | 1994974 russki standart
russki standart's picture

Hahaha, funniest thing I read today. Thank you for the chuckle. :-)

Mon, 12/19/2011 - 15:14 | 1994990 Michael
Michael's picture

I think I figured out MDB, Obama speech writer.

Mon, 12/19/2011 - 17:50 | 1995681 The trend is yo...
The trend is your friend's picture

Hilarious,  I really get a sense of calmness when i see the acronym CFA, CFP, or CIMA on a business card

Tue, 12/20/2011 - 01:31 | 1996800 prains
prains's picture

MDB are you tweaking your nipples while you write this stuff?

Mon, 12/19/2011 - 14:26 | 1994805 nuinut
nuinut's picture

Of course it's not, but it does have a specific function as the premium store of value which can be held in your real possession thus eliminating counter-party risk.

Useful for those with enough appliances and other real whatnot already and surplus value to store.

Mon, 12/19/2011 - 14:37 | 1994857 A Lunatic
A Lunatic's picture

You can't eat appliances.

Mon, 12/19/2011 - 14:42 | 1994890 nuinut
nuinut's picture

Food falls into the "whatnot" category.

Mon, 12/19/2011 - 15:26 | 1995032 LowProfile
LowProfile's picture

Fuel, medicine, building materials and tools also.

Mon, 12/19/2011 - 15:00 | 1994940 DoChenRollingBearing
DoChenRollingBearing's picture

@ A Lunatic -- very funny!

@ nuinut -- I have enough appliances and most of "whatnot", your advice is very good.  But, I would expect nothing less from you.

Mon, 12/19/2011 - 14:58 | 1994938 Smiddywesson
Smiddywesson's picture

It's not because gold is realer.  It's because it is the measuring stick for money, and platinum is not.  For 100 years, we've been told that paper is money, but gold had to be suppressed for that fiction to work.  Gold is completely different than platinum because central banks aren't sitting on the price of platinum so platinum prices aren't compressed like a coiled sprint.  Central banks aren't stacking platinum, and when it is in their self interest to let go of the price of gold, it will be in the self interest of central banks to ramp the price of gold (and silver) to devalue currencies.  Gold will make the banks that hold it solvent.  Platinum will not. 

Gold is unique.  Platinum is not.

Mon, 12/19/2011 - 15:02 | 1994952 trav7777
trav7777's picture

sorry, but this is the dumbest ass bit of "logic" I think I've ever heard.

Platinum is not unique?  It's a fucking ELEMENT just like gold, dipshit.  It's an element far rarer and historically considered far more valuable than gold.

Mon, 12/19/2011 - 15:14 | 1994991 russki standart
russki standart's picture

Trav, please give him a break. What I believe he is trying to say is Gold is a traditional monetary metal whilst Platinum is not. Personally I do not agree and I do not understand how Platinum as a store of value competes against gold, or how it will replace it. You have correctly observed that Platinum is far rarer, (at least 30X as per my coin sources) and is often referred to as the noble metal, something you no doubt already know. In the far east, Platinum  jewelry is preferred by the hip over gold. 



Mon, 12/19/2011 - 15:28 | 1995039 LowProfile
LowProfile's picture

Gold is money.  Everything else is credit, or speculation.

That said, if Mexico independently goes onto the silver standard, it could literally give gold a run for it's money.

Mon, 12/19/2011 - 16:16 | 1995270 Stax Edwards
Stax Edwards's picture

That is some funny shit.  Mexico decides to go on a silver standard.  

Or hell maybe a lead standard, they still like lead in a lot of their products down there, birth defects be damned.  A lot of candy in mexico has lead in it.  Kids can't get enough of the stuff.

Mon, 12/19/2011 - 17:21 | 1995564 Cast Iron Skillet
Cast Iron Skillet's picture

um, I seem to remember that Augustin Carstens, President of the Bank of Mexico and (former) candidate for the head post of the IMF against Christine Lagarde, advocated introduction of a silver standard in Mexico. I liked him for that. However, I just tried to google an article to that effect, but didn't find anything, so maybe I'm mixing something up.

Mon, 12/19/2011 - 15:28 | 1995040 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Platinum is coiled because it has not been introduced as money on the Central Banks balance sheets.  Imagine what will happen to PM prices when a major Central Bank vaults platinum and silver.


Mon, 12/19/2011 - 19:13 | 1995902 Ratscam
Ratscam's picture

hence long platinum short gold is a no brainer with a 190 dollar discount.
Trade only with paper though

Mon, 12/19/2011 - 15:16 | 1994997 GeneMarchbanks
GeneMarchbanks's picture

I bought some after the 2008 debacle when it hit around $1000/oz. Platinum has not panned out the way I hoped at all. South Africa has a monopoly on platinum and the mining seems stable for now. Should that change it should start finding 'real' value. It seems manipulated to me not inspite of its rarity but because of it. Where extra supply comes from, I have no clue.

Mon, 12/19/2011 - 15:18 | 1995000 Smiddywesson
Smiddywesson's picture

Yes platinum is an element, so in that regard it is unique.  You miss the point.  Platinum is not money, but the central bankers can make gold money again, and when they do so, platinum will be in the same boat with all the other assets.

The crux of the issue is that once the central bankers make their move, only gold (and silver) will be unique, everything else will deflate in value as the value of gold is ramped.  That's the meaning of money when you come right down to it, everything else is priced in terms of money.

Platinum is a valuable element, but it's not its value per ounce that is at issue, its the central banster plot to devalue paper currency vis a vis gold that is at issue, not gold's existence as an element or a commodity or whatever price it has per ounce under the old system.  When gold is revalued and currency is devalued, then anyone who doesn't hold gold will feel the difference.  That goes for the holders of platinum too.  Gold silver will be the only lifeboats during this change.


Mon, 12/19/2011 - 15:25 | 1995030 Big Slick
Big Slick's picture

Word.  Trav seemed to overreact.  Put you two in a room and I think you would agree on most things. 

Anyone still have those old $5 bills that say 'this note good for $5 in platinum'?  No?

Mon, 12/19/2011 - 18:27 | 1995804 Smiddywesson
Smiddywesson's picture

No problem, I think he thought I was saying platinum was a crappy trade.  I don't know anything at all about platinum, so I wouldn't argue with someone who owns it.  My point is that gold and silver is central to the banksters plans, not platinum.  Everything but gold and perhaps silver will be affected by TPTB attempting to off load the bill for this on anyone without gold.  

As for Trav, it's his way.  I wouldn't have him any other way.

Mon, 12/19/2011 - 15:30 | 1995048 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Just because an entity, like a bank, does not use an entity, like platinum, as a reserve, does not mean it is not money.  Platinum meets all requirements of money.  That is all you need to know.

Mon, 12/19/2011 - 18:41 | 1995819 Smiddywesson
Smiddywesson's picture

Money is what the central bankers get people to accept as money.  For 100 years, that was paper to the public, and paper and gold to the central bankers.  The system we appear to be going to is a paper and gold system, not platinum.  The central banks are not stacking it, creating ETFs to keep the public in paper platinum, and creating elaborate mechanisms to suppress platinum prices so they can buy up tons of platinum and then do the tablecloth trick, making everyone with platinum rich and anyone without poorer in all of their assets.

There's no indication that banks will transact in platinum or settle trade deficits in platinum.  If you define money as a metal round that you can walk into any coin shop in the world and trade it for cash, then yes, platinum is cold hard cash.    

Maybe central bankers DO regard platinum as money, but I haven't heard anything to that effect or anything about a platinum price suppression conspiracy.  (that said, it doesn't mean it's a crappy metal to stack)

Mon, 12/19/2011 - 16:19 | 1995287 Calmyourself
Calmyourself's picture

So is uranium, but rarer, lets all use that huh??  Trav your logic center misfires sometimes..  5,000 years of history as money and you have declared that null and void, Vanity thy name is Trav.  Platinum was not seriously known or described generally until the 1750's..

Mon, 12/19/2011 - 17:25 | 1995576 Cast Iron Skillet
Cast Iron Skillet's picture

we could go for the plutonium standard ... THEN the pesky sheeple would be happy to leave it in the vault ... in any case, they wouldn't be rubbing their coins together ....

Mon, 12/19/2011 - 22:18 | 1996292 Calmyourself
Calmyourself's picture

It does does not occur naturally it is made in reactors so yeah maybe it is better, extremely toxic poison as well..

Tue, 12/20/2011 - 10:30 | 1997377 Harlequin001
Harlequin001's picture

Platinum is not a money because it is not of plentiful enough supply to perform its function of a global money, neither is it easiy recognisable, unlike gold...

It is not money, it is a rare metal.

Mon, 12/19/2011 - 15:12 | 1994968 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Smiddy, I mostly agree.   I hold the great $ value of my PMs in Au.  78% to be specific.

But, I am not God.  I too believe that gold will be the vehicle that blasts off and leaves all else behind.  But, I do not KNOW that, so I hold some Pt and Ag as well.  I hold the silver for spending in a SHTF.  I hold the Pt in case the "Optimists" are right (that Chinese cars will use Pt in their converters, that the world economy will come roaring back, etc., etc.).

Diversification is one of my middle names...  All those names are getting crowded in there...

Mon, 12/19/2011 - 15:21 | 1995016 Smiddywesson
Smiddywesson's picture

I get that platinum is a good trade, it's just not part of the banking cabal plan.  They are not stacking platinum, they are stacking gold.

(I'm mostly gold, but hold silver too)

Tue, 12/20/2011 - 04:45 | 1996947 goldsansstandard
goldsansstandard's picture

Besides rarity, durability, divisibility, and tradition what sets gold apart is it's lack of usefulness,versus it's monetary value. Thus it is rarely consumed, and has been collected for over five thousand years. That makes it very hard to add to the existing supply, or for that matter , to subtract from it. Nothing else in the world that I know of is so resistant to a significant change in total quantity. All the mines in the world add to the football size cube by less than a quarter of an inch per year., approcximately. and as the cube gets bigger, and the grades get lower, all the technology improvements , which are exponential, are absorbed by the exponential geometry of adding to the cube. It is so damn perfect,like so much in nature, it could make even Hitchens wonder.

Mon, 12/19/2011 - 15:03 | 1994960 Piranhanoia
Piranhanoia's picture

I would like to read about the flying appliances in Venezuela.  Please post a link.

Mon, 12/19/2011 - 14:32 | 1994835 mtomato2
mtomato2's picture

Bearing, you are not traditionally one to overreact.  This coming from you is most sobering indeed.

I hope, we can most of us, at least keep out comupters...

Mon, 12/19/2011 - 14:39 | 1994871 Calmyourself
Calmyourself's picture

BEWARE, there be comupters, just off the edge of the map...

Mon, 12/19/2011 - 14:57 | 1994934 DoChenRollingBearing
DoChenRollingBearing's picture

@ mtomato2

Actually, I traditionally DO overreact!  Part of the fun.  But, my point is serious, keep your Unambiguous Wealth close at hand. -- because nuinut just above did not already point the way  :)

Mon, 12/19/2011 - 15:19 | 1995006 Big Slick
Big Slick's picture

PITY that what seems like an important message gets marginalized by ridiculous statements like 'the 2000 US election in FLA was fraudulent' (pg 25 of the linked PDF).

After recounts by dozens of entities (even far-left outlets like the New York Times, USA Today, and a number of University political science departments), this was never shown to be true.  Bush won FL in 2000.  No known legitimate study refutes that.


On its own, the report sniffs of sensationalism.  Again, pity, because I believe the overall message is an important one.


Mon, 12/19/2011 - 16:10 | 1995203 pasttense
pasttense's picture

Some of us believe in direct election of the President; that the candidate with the most votes should win. While the electoral college was understandable in horse and buggy days (an era of no electricity), it is not with modern technology.

Mon, 12/19/2011 - 18:15 | 1995768 FreeNewEnergy
FreeNewEnergy's picture

Big Slick,

So Al Gore was the choice of Florida’s voters -- whether one counts hanging chads or dimpled chads. That was the core finding of the eight news organizations that conducted a review of disputed Florida ballots. By any chad measure, Gore won.

Just thought you'd like to know. As memory serves, this story (not the one referenced, as all the real stories have been scrubbed from the web - 1984, anyone?) broke on September 11, 2001. Coincidence? Study harder. Don't be a tool.

Tue, 12/20/2011 - 04:13 | 1996935 Lord Koos
Lord Koos's picture

Actually, you're correct -- it was the 2004 election that was stolen.

Mon, 12/19/2011 - 14:02 | 1994714 4realmoney
4realmoney's picture

Europe Under Pressure to Print Money - Here we go

Mon, 12/19/2011 - 14:51 | 1994897 dizzyfingers
dizzyfingers's picture


He has something real to sell, no rehypothecation.

Mon, 12/19/2011 - 13:33 | 1994595 Oh regional Indian
Oh regional Indian's picture

Gene, we are all fore-armed. I'd rather be four-armed for what is coming up.

I can tell you, india is suffering from the biggest ostrich syndrome ever. Spending our way to msie...I mean happy-ness.

I think anyone can make a safe call to say that 2012 will be a rather un-stable year. Lot of downward pressure as long subdued vectors express themselves in asymmetric patterns and in asymmtric, explosive ways.

Boom boom, some Doom, some gloom and then Bloom again.



Mon, 12/19/2011 - 13:43 | 1994628 SmoothCoolSmoke
SmoothCoolSmoke's picture

Any leveraged inverse ETF exist for the Indian exchanges?


Mon, 12/19/2011 - 13:44 | 1994636 doomandbloom
doomandbloom's picture me?

Mon, 12/19/2011 - 14:31 | 1994830 Oh regional Indian
Oh regional Indian's picture

Hah! Perfect D&B :-)


Mon, 12/19/2011 - 14:46 | 1994901 dizzyfingers
dizzyfingers's picture

Worried about food inflation.

Tue, 12/20/2011 - 02:31 | 1996878 Melville1977
Melville1977's picture

He writes pieces for KingWorldNews's blog. One he recently wrote stated he is sticking with gold and to get out of stocks completely. He also stated he feels sorry for the younger generation since they now have to contend with massive debts from past generations. He is blunt and to the point.

Mon, 12/19/2011 - 13:32 | 1994590 LaLiLuLeLo
LaLiLuLeLo's picture

Full-Spectrum Cluster Bomb

Mon, 12/19/2011 - 13:33 | 1994592 slewie the pi-rat
slewie the pi-rat's picture

and a joyous season of D00M from kondratieff to all BiCheZ, everywhere!

Mon, 12/19/2011 - 13:35 | 1994603 Lost Wages
Lost Wages's picture

I hate people who quote Ayn Rand, but looks like an interesting report.

P.S. Who the fuck is Paul Mylchreest?

Mon, 12/19/2011 - 13:44 | 1994633 Ragnar24
Ragnar24's picture

I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine.

Mon, 12/19/2011 - 14:02 | 1994709 InconvenientCou...
InconvenientCounterParty's picture

A man that does not understand the primacy of basic human psychology and physiology can't be trusted to have useful ideas about human sociology.

Mon, 12/19/2011 - 14:29 | 1994817 Canaduh
Canaduh's picture

It's generally not wise to follow an ideology of someone who worshipped a sociopathic serial killer.

"Other people do not exist for him, and he does not see why they should," she wrote, gushing that Hickman had "no regard whatsoever for all that society holds sacred, and with a consciousness all his own. He has the true, innate psychology of a Superman. He can never realize and feel 'other people.'"


Mon, 12/19/2011 - 14:57 | 1994932 Doomsday Profit
Doomsday Profit's picture

Great observation! There are so many very intelligent people on this site that have no idea how evil Rand was Objectivisim that convinced Greenspan to derugulate and that markets would patrol themselves....pure idiocy born from the bowels of hell.  As one of the seven deadly sins, Greed needed to be it is about to destroy us all. My moniker is an homage to the doomsday profit that resulted from Rand's influence on Greenspan and other powerful disciples of Randian philosophy. Her absolute disdain for those who believe in God is another testament to the evil that infected her every thought. Here she is spouting her evil on Donahue. Listen at 5:30 where she twists logic completely around to say it is evil to believe in God:


Mon, 12/19/2011 - 15:04 | 1994962 Canaduh
Canaduh's picture

That's because intelligence and sociopathy are not mutually exclusive.

Mon, 12/19/2011 - 15:11 | 1994985 TheHillrat
TheHillrat's picture

Read Griftopia about Rand and how Greenspan followed her beliefs in the free market. This commentary just reeks of elitist BS to try to scare the masses. There are a lot of things that are wrong in this world but to think we are headed for some sort of bizarre neo Nazi global regime is nuts.  Stick to facts not hyperbole. Also Rand is nuts and those that followed her basically got us into this mess in the first place. 

Mon, 12/19/2011 - 15:46 | 1995127 riphowardkatz
riphowardkatz's picture

No your nuts, no your nuts, no your nuts. Great argument jackass.



Mon, 12/19/2011 - 15:52 | 1995146 riphowardkatz
riphowardkatz's picture

For you morons that think greenspan followed Ayn Rand philiopshy in his job at the fed you should take the time to read her and quit spouting off.

Greenspan, for the uninformed, knew  objectivism. Objectivism shows that the root cause of the ills of our society is a result of a failed philopsohpy, altruism. Under altruism the collective good is valued over the good of the individual. Under the morality of altruism you have the right to take from one person and give to another person. This gives justification for wealth resdistribution in the form of taxes and inflation and saving too big to fail banks because we are "all in this together" 

Greenspan was ne economist he had no interest in trying to change people's philosophy and realized that death/jail  could come a knockin if he did (sword of democoles). He managed the crappy system the best he could, the fact is it is unmanageable. When the s*&^% was about to hit the fan he bailed on Rand by saying her philosophy failed as a means to distance himself from it.

0% interest rates have never been a part of Objectivism or capitalism
too big too fail was never a part of objectivism  or capitalism 
government power to the nth has never been a part of objectivism


Mon, 12/19/2011 - 16:21 | 1995302 TheHillrat
TheHillrat's picture

She is and will always be a complete lunatic. She is the believer in black and white; you are a parasite or you are a creator. There is no grey in her world. In fact, Greenspan and Rand used to hang out together and talk about life. Rands books were influential in his thinking. When Greenspan wasn’t such a dick/free market capitalist she got angry at him and said, “I think Alan basically is a social climber.” Rand doesn’t believe in charity. If you use her reason, she is absolutely right all the time.

Altruism means for each his own even if it means stepping on those that got your there. This is the classic ideology that got us into this crap. Greed, 0% interest rates and TBTF was a byproduct of the Randian beliefs.  They printed the money, allowed NoDoc Loans, securitized them and sold them as AAA paper. Everyone made money until the bill was footed by the tax payers. In a Randian sense, it doesn’t matter if you hurt the rest of us as long as you made money. Wall Street Banks are so big because it is their belief they do “God’s work”. They are the producers; we are just parasites to them. We feel the effects of altruism every day. This market is a bubble built on the false sense of entitlement by Randian followers. 

Mon, 12/19/2011 - 19:46 | 1996008 riphowardkatz
riphowardkatz's picture

"In a Randian sense, it doesn’t matter if you hurt the rest of us as long as you made money."

Sorry jackass but you are wrong

from Ayn Rand

"We, who live by values, not by loot, are traders, both in matter and in spirit. A trader is a man who earns what he gets and does not give or take the undeserved. A trader does not ask to be paid for his failures, nor does he ask to be loved for his flaws."


Tue, 12/20/2011 - 00:35 | 1996645 StychoKiller
StychoKiller's picture

Altruism != Charity

Prove yourself, alleviate some suffering:

Libertarian != Inhumane


Mon, 12/19/2011 - 15:20 | 1995002 MachoMan
MachoMan's picture

So did greenspan correctly identify the proper objectivist response to the questions/problems presented him?  The problem is that ideals do not exist in a vacuum...  and it's an all or nothing proposal...  and, given some aspects of the concept could not ever be implemented, then we've got a problem. 

If you're talking about deregulation, then I'll posit that the markets have always benefitted those who can lobby the best.  We have deregulation in some aspects, but in others we have regulatory capture as well as an ability gap between the cats and the mice.  Ultimately, the aspect to complain about in regards to greenspan's tenure is not deregulation, but the conscious decision to endlessly lever via unnaturally low interest rates and the conscious decision to avoid any wrangling of derivatives (presuming the last one was his call).

Deregulation is a misnomer...  it's meant to entice you into the presumption that the system itself would or could be fair with government involvement...  it cannot...  it will always benefit those who lobby the best...  and, further, the determination and observation necessary to ensure there is no hopelessly large wealth gap will always subside when we choose to elect representatives to do our thinking for us...  we will rush to action and shed our apathy only after a crisis...  when our comfort levels have come crashing back to reality.  As always, the pound of cure is much harsher than the ounce of prevention.

PS, it is not evil to have disdain for theists...  if so, then I suspect you are guilty of the same evil from your post.

Mon, 12/19/2011 - 15:39 | 1995097 Doomsday Profit
Doomsday Profit's picture

Regulatory capture and deregulation are two sides of the same coin....seperated only by semantics. I'll agree that lobbying is an evil unto itself that must be purged from any just political oxymoron, I know.  You seem to have presented a veiled defense of Randian tragic. In the end good will be called evil and evil will be called good....I think we're near the end thanks to Ayn....and the only real question is was it by design?

Mon, 12/19/2011 - 22:25 | 1996313 MachoMan
MachoMan's picture

I didn't think it was very veiled...  but no particular philosophy/world view gets everything right...  so I only adopt it in portions.

Ayn didn't really come up with anything new...  just repackaged for alternative consumption.  I think calling Rand the source of evil is naive at best.  All she did was catalog human behavior.  Granted, some of the conclusions are incorrect and/or lead to inequitable results...  but separate the value statements out and you have some pretty intelligent observations...  just like marx (again, laughable conclusions/solutions)...  or anyone else for that matter.

Further, the end is merely the beginning...  and happens time and time again.  We bounce between collective and individual oriented systems while at the same time rarely gaining political aptitude or self-determination.  The view only changes for the lead mule.

And no, the systems aren't designed per se...  the difference between the haves and the have nots is that the haves understand the forces at play and front run them...  all of the systems have built in lifespans...  certain political and monetary actions cannot be recovered from...  and propel systems towards their fate with the pinball bumper...  and they all happen in increments.  We just bounce back and forth and back and forth between the different systems depending on what collapsed the last time and/or what can be blamed the most conveniently (and thus rewrite history).  The haves quickly turn into have nots when they disregard the natural flow of things and what self interest brings.  Of course, that is not to say that the systems can't be gamed or sped up to benefit the few...  but everything is not by design...  the simple answer is that humans have no answer for a political or economic system that maintains some semblance of stasis. 

Mon, 12/19/2011 - 16:14 | 1995249 pasttense
pasttense's picture

But of course we never had  true deregulation. With true deregulation there would be no bank bailouts. Instead we have "privatize the gains, socialize the losses"

Mon, 12/19/2011 - 22:26 | 1996316 MachoMan
MachoMan's picture

Exactly...  at least as to that particular aspect of the law.

Tue, 12/20/2011 - 08:05 | 1997070 twotraps
twotraps's picture

Not sure if anyone comes back after a day to review comments but I agree with you.  Deregulation for sure, its all political.  On the wealth gap....I would say it has always existed but in times of stress everything hurts more, things are more pronounced.  What greenspan believed or not we will never know, he may have ecnountered what many do when they enter higher government.....good luck changing it.  It is  a massive beast, with many moving parts/interests that combine in a sinister way so that no one is on the hook but the collective result is devasting (housing).  

Mon, 12/19/2011 - 15:33 | 1995059 LowProfile
LowProfile's picture

Yeah, and Andrew Jackson killed the indians along with the bank.

Not to interrupt your throwing babies out with bathwater, but what exactly is your argument for collectivism?

Oh that's right.  You don't have any.  Mybad!

Mon, 12/19/2011 - 15:41 | 1995106 Doomsday Profit
Doomsday Profit's picture

Charity is the prime virtue that has the potential (still) to save us....Rand helped to kill this virtue in the hearts of men.

Mon, 12/19/2011 - 15:54 | 1995137 LowProfile
LowProfile's picture

I can only imagine you must be speaking for yourself, since that virtue is very much alive in well in me and my circle.

The issue with forced charity is that not all are deserving of the same level . I might give an alcoholic bum a sleeping bag, food and a bunk somewhere, but IMO he doesn't deserve the same level of charity as a single widow with three kids.  Or for that matter, a MOTHERFUCKING INVESTMENT BANKER.

The issue I have with people like you is that you assume that some faceless bureaucrat knows better who deserves charity in my neighborhood than I do.  That's bullshit, plain and simple.

Mon, 12/19/2011 - 16:46 | 1995418 Doomsday Profit
Doomsday Profit's picture

So you get to pick who lives and who omnipotent of you.  Yes - everyone considers themselves to be completely charitable and that this will result in a better society if government simply left them to dole out their fortunes themselves - everything would be better.  History proves otherwise - and any argument that holds personal greed as something to be admired and desirable is evil at its core.

Mon, 12/19/2011 - 17:12 | 1995536 LowProfile
LowProfile's picture

So you're saying you should decide then?


Mon, 12/19/2011 - 18:21 | 1995789 Doomsday Profit
Doomsday Profit's picture

Name calling....the last refuge of the intellectually defeated.

Mon, 12/19/2011 - 21:12 | 1996179 Matt
Matt's picture

Please re-read the previous post. My understanding is that the poster was saying each person should handle their own charitable giving, rather than having a government take money from people and have a beauracrat  in an office somewhere decide who gets what, not that the poster should be the one deciding for everyone.

Basically, the argument is not pro-charity versus anti-charity, but rather independant giving versus forced redistribution by central planners.

Tue, 12/20/2011 - 00:41 | 1996669 StychoKiller
StychoKiller's picture

How brave of you -- getting Big Brother to rob others at the point of a gun to benefit others you deem worthy, instead of doing it yerself -- yet you STILL have the gall to cry "Hypocrisy?!"

You obviously have NOT thought your premises to their logical conclusions!

Mon, 12/19/2011 - 15:44 | 1995117 Whalley World
Whalley World's picture

If you can't recognize today's amerika for Rand's Amerika in Atlas Shrugged, then you have not read it.  Wesley Mouch is Obama!  socialize everything, do away with production and increase socialism for the betterment of all.

Ignore Atlas Shrugged at your peril

Mon, 12/19/2011 - 16:18 | 1995280 malek
malek's picture

It is generally not wise to disregard everything an individual has ever said or written, because someone (rightly or wrongly) believes to have found a stain on her/his record.
Doing so only encourages the mudslingers.

Mon, 12/19/2011 - 17:17 | 1995543 Canaduh
Canaduh's picture

I do not disregard everything Rand has said or written, I disagree with a vast majority of it. She most definitely did write those words, and they are very significant to her ideology of objectivism. If you disagree, some salient points would be appreciated, instead of, as you say, 'mudslinging'.

Mon, 12/19/2011 - 17:36 | 1995643 malek
malek's picture

Not sure how I could make salient points on your statements, as you have given close to none in the first place.

But your mention of "intelligence and sociopathy" in 1994962 seems to point to you believing her to be a sociopath. For which I never read the slightest coherent reasoning anywhere, talking about Ayn.

In the end it likely boils down that you believe "fairness" to be the highest good (more precise "fairness" in outcomes), and so capitalism -and in extension all forms of competition- are evil, as they inevitably produce winners and losers. Which would mean you commend the current central planners reign, as they are fervently trying to avoid to create any loser... but I'm just guessing your mindset here.

Mon, 12/19/2011 - 18:38 | 1995753 Canaduh
Canaduh's picture

The (1 more than none*) statement which I asked you to respond to was -  She most definitely did write those words, and they are very significant to her ideology of objectivism.

If you do not agree, why?

 She commends him not for the act he has done, but rather for the complete lack of empathy while he went about his life . Some call it sociopathy, some call it antisocial personality disorder, and until 1980, this was called psychopathy. Empathy, by the way, is not just recognizing and sharing feelings with those that benefit you (family, friends, business associates), but rather the ability to recognize and share feelings with any sapient or semi-sapient being. Rand derides this notion, and that is why I believe her to be a sociopath.(Sociopaths are born, not made, and there is no known treatment, therefore, if she was a sociopath at age 21, most likely she was a sociopath at age 60)

Those who know me would identify me as a libertarian. I have never received a cheque from the government other than on a tax return, and I don't believe in "fairness in outcomes".  I do, however, empathize with those around me, even those I do not know.

Btw, if you don't believe the central planners are trying to create winners and losers, then I question how much you have gained from reading this website.

Mon, 12/19/2011 - 18:49 | 1995851 malek
malek's picture

But even as a libertarian you seem to believe in a thought-terminating knockout argument, or at least this is how you present it here. That doesn't fit together.

I do not want to spend time researching who exactly Hickman was, or what context those words were ripped out from...
I have by far not seen enough indications that Ayn Rand generally and without exception derided any form of empathy. But her thoughts, or ideology if want to call it that, should not be taken word-by-word as the ultimate wisdom, just like any other source of intellectual stimulation!
However she was a lot more right than wrong, and our current predicament is/was not caused by lack of empathy, but more by too much empathy-based thoughts (aka instant gratification / postponing the pain), clouding any rational reasoning. This does not in any way imply the road to heaven is getting rid of *all* empathy, however.

Mon, 12/19/2011 - 20:04 | 1996032 Canaduh
Canaduh's picture

It's telling that you do not want to explore the subject of Rands thoughts on Hickman further. The quote is from 'The Journals of Ayn Rand'.

I have by far not seen enough indications that Ayn Rand generally and without exception accepted any form of empathy. Her (named by Rand herself) ideology of Objectivism does nothing to discourage sociopathy, and everything to promote it's value in society. "The pursuit of my own rational self interest and my own happiness is the highest moral purpose of my life" is an ethos many Randians repeat. And one that a sociopath would agree with.

A thought experiment-

A young woman is struck and killed while jaywalking. She had no right enter the crosswalk, and because of that poor decision, 3 young children are without a mother. What is your first reaction?

a) What a dumb bitch, that should teach her.

b)That's horrible, those children must be devastated.

Being honest with yourself, if you chose a, you are most likely a sociopath.


Mon, 12/19/2011 - 20:07 | 1996049 malek
malek's picture

You are really a do-gooder in the self-elected guise of a libertarian, plus a propagandist who draws up everything as a black-white choice.

Let me answer directly from the document ZH linked to in the original post:

"But the United States in the universe of Atlas Shrugged is heavily dominated by an altruistic
moral code, which holds that an individual has no right to his life but must serve society. Under
this principle, the country is increasingly becoming a collectivist dictatorship in which individuals
are right-less slaves of the state. [...]"

Have fun serving society, being the only allowed meaning to your life, dutifully accepted by you!

Mon, 12/19/2011 - 20:18 | 1996071 Canaduh
Canaduh's picture

Ah yes, a theoretical society in a fictional novel written by a sociopath proves beyond a doubt that I do not believe in liberty because I have empathy. How did I not realize this earlier? Fie on myself, fie!

I will not reciprocate the labelling you so generously provided me, but will bid you a good night, prior engagements await.

Mon, 12/19/2011 - 20:43 | 1996103 malek
malek's picture

You're completely missing the boat.

You were actually trying to force some moral code of yours onto me. But it's actual within my liberties to reject such a blatant manipulation attempt.

Tue, 12/20/2011 - 00:50 | 1996702 StychoKiller
StychoKiller's picture

"The pursuit of my own rational self interest and my own happiness is the highest moral purpose of my life"

It makes me happy to be empathetic and help alleviate suffering...

If there are exceptions to your premises, your argument is logically flawed, there can be no other conclusion.  The World within the mind is much more vast (and complex!) than you know, or can even possibly know!

Mon, 12/19/2011 - 14:18 | 1994773 Dadburnitpa
Dadburnitpa's picture

"If it is now the belief of my fellow men, who call themselves the public, that their good requires victims, then I say: The public good be damned, I will have no part of it!"

Mon, 12/19/2011 - 14:37 | 1994856 mtomato2
mtomato2's picture

You go,


Mon, 12/19/2011 - 13:51 | 1994658 Vergeltung
Vergeltung's picture

why? Atlas Shrugged is no longer fiction it seems....

(I did not down-arrow you, FWIW).


Mon, 12/19/2011 - 15:09 | 1994978 SheepDog-One
SheepDog-One's picture

I down voted myself.

Mon, 12/19/2011 - 15:16 | 1994996 DoChenRollingBearing
DoChenRollingBearing's picture

Cool!  Me too!  But I balanced you with an up.

Mon, 12/19/2011 - 15:29 | 1995045 Big Slick
Big Slick's picture

Using Enron or FED accounting, you can report that as revenue of 2 units.

Mon, 12/19/2011 - 14:06 | 1994731 Jolly.Roger
Jolly.Roger's picture

Some verbose guy that read too much Hunter S Thompson.

Mon, 12/19/2011 - 14:19 | 1994768 strannick
strannick's picture

Gotta agree. She was a good goldie, but a gargolye besides

Mon, 12/19/2011 - 14:47 | 1994904 Calmyourself
Calmyourself's picture

What?? Ayn Rand was not perfect, she was a flawed human being?  Next you will tell me Da Vinci and Michaelangelo were fags, OMG??  All that beautiful art and they were fags, Rand wrote a stirring defense of private property and identifying the mooches among us and she was not perfect either..

That settles it burn the Sistine chapel, Mona Lisa and Atlas shrugged, cuz that is how conservatives think don't ya know, sarc off..  Well, at least we will always have Bammy, just ask him, he's the 4th best Prez ever...

Mon, 12/19/2011 - 15:03 | 1994961 Clint Liquor
Clint Liquor's picture

he's the 4th best Prez ever...

And a Nobel Peace Prize winner!

Mon, 12/19/2011 - 15:10 | 1994982 SheepDog-One
SheepDog-One's picture

Too bad public opinion pegs Obama as the worst president ever.

Mon, 12/19/2011 - 15:18 | 1995001 DoChenRollingBearing
DoChenRollingBearing's picture

Hey SheepDog, reality happens sometimes...

Mon, 12/19/2011 - 15:35 | 1995074 Cadavre
Cadavre's picture

And there was thunder, thunder over Thunder Road
Thunder was his engine, and white lightning was his load

Mon, 12/19/2011 - 16:12 | 1995231 Calmyourself
Calmyourself's picture

SD1, I was referring to bammy's last 60 minutes interview  he called himself the 4th best prez ever, self identified himself as such..  They edited the idiot out of his own interview for extreme stupidity..

Mon, 12/19/2011 - 15:52 | 1995113 Cadavre
Cadavre's picture

Perhaps some of us (and mind you, ain't saying who) be confusing that "Ayn" with what Jelly for Brains, Ariel Sharon, called a "scam", the Diary of Anne Frank?

Mon, 12/19/2011 - 15:37 | 1995085 midtowng
midtowng's picture

Anyone who talks about Ayn Rand as a prophet and talks about "socialism of the right" is a moron.

Things might very well fall apart next year, but that won't make this guy any less of a moron.

Mon, 12/19/2011 - 15:56 | 1995155 riphowardkatz
riphowardkatz's picture

"To deal with men by force is as impractical as to deal with nature by persuasion."


Do you hate me now?

Tue, 12/20/2011 - 00:54 | 1996714 StychoKiller
StychoKiller's picture

"You can ignore reality, but you cannot ignore the consequences of ignoring reality."

Mon, 12/19/2011 - 13:37 | 1994608 sabra1
sabra1's picture

if we can finish all the hangings ASAP, the quicker we can all rejoice!!!

Mon, 12/19/2011 - 13:37 | 1994609 Conrad Murray
Conrad Murray's picture

This should make for some cheery holiday reading.


Mon, 12/19/2011 - 13:45 | 1994637 Captain Kink
Captain Kink's picture

Can someone please post a link to the full report, as it is not coming up for me at the office.  "Saving trees"  stays up forever.

thanks in advance...


Mon, 12/19/2011 - 13:48 | 1994644 DoChenRollingBearing
DoChenRollingBearing's picture

Maybe try clicking the little blue "pdf" link just abouve the Scribd screen shot (?), it is a link.  52 pages...

Mon, 12/19/2011 - 13:55 | 1994677 Captain Kink
Captain Kink's picture

Thanks a million, I wasn't even getting the scribd or the pdf firm may be blocking???

I did get to it via your link, DoChen.

Mon, 12/19/2011 - 14:39 | 1994873 slewie the pi-rat
slewie the pi-rat's picture

they just may not want you to read this is all, C_K:

Suggested Reading:

Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide

Mon, 12/19/2011 - 14:04 | 1994721 s2man
Mon, 12/19/2011 - 13:53 | 1994669 BlackSunshine
BlackSunshine's picture

If inflation (or hyper inflation ) is the next on the menu list, run up the credit cards (with 0% offers) and buy physical metals, and other hard assets. Those liabilities should melt away in no time. Of course due this if you have reserves to cover the payments after you lose your job. That goes without saying though....


Mon, 12/19/2011 - 14:48 | 1994908 Calmyourself
Calmyourself's picture

Let  me know when you get this timing right, golf clap ..

Mon, 12/19/2011 - 15:22 | 1995020 DoChenRollingBearing
DoChenRollingBearing's picture

@ BlackS

I would not do that.  For a couple of reasons, first is that we do not KNOW what will happen.  Some .govs in the past did NOT let the debts melt away, they kept the debts in "real" (new) money.

Secondly, why screw people or even banks?  Bad karma...

Mon, 12/19/2011 - 16:22 | 1995308 Calmyourself
Calmyourself's picture

Exactly, indexing debt in new to old can happen to you..

Mon, 12/19/2011 - 16:37 | 1995386 Stax Edwards
Stax Edwards's picture


Here at ZH this plan is known as the 'Chumbawumba'

without the payments part of course

Mon, 12/19/2011 - 19:26 | 1995956 Ratscam
Ratscam's picture

which reminds me, I haven,t seen chumbawumba around lately

Mon, 12/19/2011 - 14:01 | 1994704 daxtonbrown
daxtonbrown's picture

Anyone who can read a balance sheet knows our goose is cooked. It's like watching an old Ed Sullivan show with a plate twirler where you've got twenty or thirty spinning plates but now they're are falling off and hitting the floor.

This debt tsunami has to lead to a civil war of some sort, though it might be unconventional.  In fact, we are already in it, over the indentured debt slavery of youger generations to the welfare state. It is simply not sustainable. Both the Tea Party and even the misguided OWS are symptoms of what is going to happen.

The only way out for the individual is to 'Go Galt'. Bullet proof as much of your personal finances and lifestyle as you can. The worst case is you end up with a few extra cases of freeze dried food, but heaven help those who aren't prepared.

Mon, 12/19/2011 - 15:01 | 1994947 yabyum
yabyum's picture

Daxton, Took a look  a the web site, with the exception of 'zero hedge it is garbage.

Mon, 12/19/2011 - 15:29 | 1995044 dizzyfingers
dizzyfingers's picture

daxtonbrown: gotta get rid of social security, medicare, medicaid. keep military benefits, cap congressional salaries, no benefits, and the rest of government and municipal "workers" too. Everyone pays for what they get; military paid up front by stepping forward.

Mon, 12/19/2011 - 14:05 | 1994723 Jolly.Roger
Jolly.Roger's picture

This is hyperbolic drivel. 


Mon, 12/19/2011 - 14:09 | 1994737 JailBank
JailBank's picture

Black Swan of Cairo How Suppressing Volatility Makes the World Less Predictable and More Dangerous
Nassim Nicholas Taleb and Mark Blyth

It seems like you can take the main idea from this paper and apply it tothe markets. Where you end up is disaster.

Mon, 12/19/2011 - 14:10 | 1994740 Voodoo-economist
Voodoo-economist's picture

come on, reports by someone who cant put a 200 yr chart on log scale should go straight to trash

Mon, 12/19/2011 - 14:17 | 1994763 Srgato
Srgato's picture

Be sure to check out "Video Killed the Radio Star", alluded to in the first pointed paragraph above by its lyrics:  "In my mind and in my car, we can't rewind, we've gone too far".  The group, the Buggles, was English and their video was the first to appear on MTV when that was started.  It's a great song.  A world-wide hit and their only one.  (p.s., Is the one with the red neckband a transvestite?)

Even jeremiadical reports like this tell us that there's still time (for the US, at least) to turn around if we get right to it.  The trouble is, no one wants to take the medicine voluntarily.  We need a charismatic leader who will convince us that each and every one of us needs to lay down his greed and pride and addiction to ease (you with the 4G phone:  I'm talkin' to you!) and WORK to make a just socieity.     

Mon, 12/19/2011 - 15:33 | 1995064 dizzyfingers
dizzyfingers's picture

Srgato: "charismatic" leaders don't live long. Everyone has to take responsibility for themselves. Fact of life. You're wishing for someone else to take responsibility for you.

Mon, 12/19/2011 - 14:17 | 1994766 s2man
s2man's picture

Yes, the data are screaming deflationary depression.  That would be the result of deflating the credit bubble. So how can we get inflation?  The bankers.  They can't stand asset deflation, because they have borrowed or loaned against the assets.  And, since the bankers are in charge, now, they will make sure we have inflation. 

Yet, I predict biflation. Asset values going down, as the price goes up in fiat terms.  Say you have a house worth $100,000.  400% inflation would make its price $500,000.  Yet, you may not be able to get only $200,000 for it.  So its paper value has gone up 100% while its real value has gone down 60%.

I expect commodities to follow inflation rate, and think (hope) gold may exceed it when the gold bubble really gets going.  Grab some gold now, and hang on for the ride!

Mon, 12/19/2011 - 15:25 | 1995029 DoChenRollingBearing
DoChenRollingBearing's picture

That's my working scenario too.  Who knows what will happen?  But, the picture you draw sounds about right.

Mon, 12/19/2011 - 21:48 | 1996240 sgt_doom
sgt_doom's picture

Exactly, and a replay of Hong Kong in the late 1990s, thanks to the PLA banksters.

Mon, 12/19/2011 - 14:21 | 1994782 Georgesblog
Georgesblog's picture

The common thread through all of the possibilities is that investment markets litter the road in front of  them with paper trash, debt.  It doesn't take much to set off a wildfire of inflation and currency collapse. Perhaps the Fed needs a mascot, like Smokey the Bear. But then, they wouldn't take the advice. "Only you can prevent Ponzi schemes."

Mon, 12/19/2011 - 14:21 | 1994783 Georgesblog
Georgesblog's picture

The common thread through all of the possibilities is that investment markets litter the road in front of  them with paper trash, debt.  It doesn't take much to set off a wildfire of inflation and currency collapse. Perhaps the Fed needs a mascot, like Smokey the Bear. But then, they wouldn't take the advice. "Only you can prevent Ponzi schemes."

Mon, 12/19/2011 - 14:24 | 1994790 simone
simone's picture


Mon, 12/19/2011 - 14:26 | 1994803 cdskiller
cdskiller's picture

I stopped reading at the phrase "Ayn Rand's masterpiece..."

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