This page has been archived and commenting is disabled.
This Time Is No Different - Reflections On 1929 Optimism
When it comes to markets, the following clip, as well as memories of recent market collapses, highlights that it is usually brightest just before it's pitch black.
..."As the market floundered financial leaders were as optimistic as ever...more so"...
(h/t @Macheterosforvr)
We are where...
»
- 39355 reads
- Printer-friendly version
- Send to friend
- advertisements -
Decagon post.
I am fairly convinced it is in fact Paul Krugman. I was going to wait until he talked about being a cat person, but we have heard enough. MDB is in fact PK.
@Bonus
Best post I've seen in a while and kudos to you for exploiting the Tyler(s) and their doo-gooder attempt to be holier than thou whilst taking bribes from the scum they attack on a daily basis.
Get real tyler(s) and stay true to your message
Delete your cookies and see where the ads come from. It's all based on your browsing prifile that is stored by the ad company. Most commonly it's based on Google's software through Ad-Sense.
The adverts are based upon your browsing profile. That sort of say's something considering all of mine are from hedge funds, miners, and companies selling silver.
Keep your hands off my snorgtees. Fucker.
YOU'RE TRIPPING ME! YOU'RE TRIPPING ME!!!!!! I'M FALLING DOWN! I'M FALLLLLLLINGGGGG DOWWWWWWNNNN http://www.youtube.com/watch?feature=player_detailpage&v=TzzGPfVx32M
One of the most astonishing hypocrisies on Zero Hedge is MDB's delusion that he's capable of giving advice to anyone older than the age of four........
That's odd, MDB. All I'm seeing is ads for guns and golddigger/sugardaddy f**kservices. Must be the dif between U and me.
I would like to suggest using an add blocker.
Blissfully unable to comment thanks to Ad Fender and Adblock Plus.
And I get "Established Men" pick-a-girl ads. I feel much better now because it is clear that the eye in the sky isn't seing clearly yet. Established. Bah hah hah!
ya know....i agree with alot of what ZH has to offer, but the Tyler's never offer solutions. If you look at what gets the most up arrows on most posts, it is clear how juvenile the ZH demogrpahic has become.
I guarantee not one of the responders to any of these stories has the balls to sacrifice their current lifestyle to back any of their claims against the current system because you know it would be all out civil war. That would take real thought, planning and execution. you're all starting to sound like a bunch of cry babies, ban me if you like! but if all you can do to initiate change is to type this BS into your computer then Fuck Off!!
If you are so sad about your state of affairs, then you should be willing to risk your sad life to change it! otherwise shut up or put up! you're starting to make the ultra left and right wingers sound intelligent.
"SOCIAL DEVIANCE" IS NOT A DEROGATORY (SP) TERM!
There is no solution. People who come up with solutions, including me, are waisting their time. It is doom for sure.
Nice binary bullshit. I'd bet a large number of the posters here would have my back - and I theirs - in a real shitstorm while you were pissing your pants waiting for the powleece to save your sorry, scrawny ass.
Project Mayhem, motherfucker - and you ain't in it.
Way past solution time.......revolution time!
You just offered what?
“The chief cause of problems is solutions.”
- Eric Sevareid
Note that "solution" suggests a state of permanence. Sorry to break the news to YOU, but NOTHING is permanent.
My local newspaper is like that too.The only solutions I have found are for the Sodoku and the Crossword Puzzles on the solutions page. Try doing a Google search for editorial's ( I just did it and got 62 million hits)
"Ooooh, the hypocrisy !"....MDB reporting from Lakehurst, New Jersey ! Monedas 2012 Comedy Jihad Maiden Flight
Hey MDB. Wake up. We're in the twentieth century now. All the ZeroHedge ads are targeted. That means the ad trackers know you and know your shopping and buying patterns. It's all in a big database. So that means the stuff you're crying about is actually what you buy.
I haven't worn women's clothes in years.
MDB, I am glad to be the 111th person to junk your ass.
You are such a tool and have no idea how online advertising works. The majority of advertising these days is based upon your stored cookies. The same goes for search results. Wake the fuck up.
ZH has got to pay the bills fuckhead MDB.
How much have YOU contributed to the Tylers...?
And how much are you paid to be here...?
Or are you just doing your patriotic duty?
are you a complete retard or what?
MillionDollarBonus,
This from the rapacious capitalist?
What is even funnier is that the adverts you see are based on your browsing habits elsewhere (cookies, my friend) and reflect you more than anything else.
Very funny.
I agree, ZH has become kind of ridiculous. It started as a rebel, now it has matured without having noticed it. Itmis like some balding, fatty 45 yr guy starting to buy teen clothes and trying to date your daughter's class mates. And once you are not credible but quickly becoming a bit boring and repetitive, you double the effort.
I wonder why I post this or why I even bother to read ZH anymore. Yes, go ahead and repeat your CNBC mantra. But you are becoming even less credible.
Is that you Greg smith? Don't you have a book you should be working on ?
What!? ZH has ads?!
Heh, seems my "delete ads"-software works.
Love it.
I just Googled "Forever Lazy's". I'm embarrassed for anyone who buys such a thing.
One of your more worst attempts there MDB.
Adverts on the internet are activated by your own private browsing habits via the surveillance of said by the likes of .gov sponsored corporations. À la Google etc.
As you well know.
Get a script blocker, or better still, buy a fucking dog and do take it for a very long walk somewhere ...
Advertisements don't have to support your message, and getting money from them is just a business deal, it has nothing to do with your message you idiot.
The ads on the site, really most of the time reflect sites you visited frequently , they use those target adverts now.... where the adverts play off you web cookies. . . clear your cookies and completely diff ads pop up, i get adds for shit off new egg all day long . . .;p
The ads are often based on your own surfing history. I get ads for local girls in my area looking to hook up with ME, TONIGHT!
yep bernanke made magazine covers this week, and abc news made him a national hero this is as good as it gets right now folks
National hero? i just threw up in my mouth a little.
I know that feeling Osnium.
I JUST HOPE TO GOD WHEN THE CRASH HITS SOON GOLD AND SILVER SHOOT UP TOO!
Why? No, seriously!
I'm curious as to what people think are the advantages.
For gold it'll still all be the same basic ratio (what was that yardstick, an oz of gold would buy a nice suit back in the early 1900s, same as today? and that would be the same when the suit is valued in fiat at $10,000?).
Paying off existing debt is where PMs will really kick in. That's why I opted to borrow cheap fiat now rather than burn through PMs. Also, it was a bit of a hedge on the side of the possibility that a loan collector might stop showing up at my door one day: if I'd cashed out I wouldn't be able to take advantage of such an option. Diversify against risk: requires properly assessing risk as well as understanding what diversifications are likely to work best to mitigate.
All are tools, and even the finest of the lot are worthless unless used properly.
Where are we on the scale? I think we are at the baby blue desperation heading towards panic.
Where is bloodshed and civil war on the graph?
120 days and counting
I'm thinking more like 150 days ... but who's counting?!
where are we cattle u think?
I'm not sure "we are here" because the volumes have not been there - there is no exuberance.
Quite honestly, I looked at that graphic and I don't know where the hell we are. Technology and automation has given unprecedented powers to a handful of people and that has never ended well throughout human history. My guess is we need a new graphic - a cliff somewhere on the downslope, a reset button, a complete flush of the current corrupted system... I wonder what that chart looked like as Rome was beginning to crumble?
There is this sense that things are cyclical and always come back, but history paints a different picture. When the underlying morality is removed complex societies collapse - unless this time is different of course!!
Things ARE cyclical. Problem is is that we don't understand what the real cycles are. Closest that we can actually demonstrate are glacial cyclings of the planet, and these would tend to suggest that our discussions of "economic cycles" are pretty insignificant in comparison. It's like the saying "just when you think that you're winning the rat race the rats all become faster," just when you think that you understand the cycles there's a much bigger one lurking (one that you don't have ANY room for control or mitigation). Google "seed vault."
THRILL
Agreed.
EUPHORIA will not be attained until the S&P nears/crosses 1500, sometime this year.
After that...
JUMP YOU FUCKERS!!!
Never gets old.
Well, when you really get down to it they really ARE promoting death. And it seems fitting that they should practice what they preach.
Death to the culture!
MSM is at Euphoria. Sheeple are at "perplexed," which is on the line between optimism and desperation.
Manic/depression....doesnt ever end well, highly volatile can blow up at any second.
Frustrating mess...
http://www.youtube.com/watch?v=QYdq0ABH3so
I just saw an interesting title over at Market Watch
"You have to play to win - U.S. stocks' performance so far is remarkable in part for the anemic trading volumes, but those on the sidelines, as with the lottery, stand no chance."
If you are not all in on the Stock Market (or Lottery it seems) then you are missing out on this! Hurry before you miss it (/sarc)
Yep, ZH ran that story here too. Its ridiculous how desperate the central planner bankster lunatics are now.
Yeah, the market is actiing like they are at Thrill. General sentiment seems like it is maybe around "Hope" tops.
Maybe this cycle becomes meaningless once no one believes in this crap anymore.
what stage are we at? I think 2008 was panic, and the next crash will be capitulation.
again, daddy, again! please! please! again!
Just get it that hardcore-humor doesn't actually ring true with the millions thta eyeball this site.
Just a marketing tip.
Wait, this is Fight Club. Go fuck yourself and your "hobby" kit.
L0L! no kids? no father? you were hatched?
you don't need to tell me where i BE, toy-boy
don't project your anal leakage on me, you vicious, little cunt
there are some very sick mofo trolls out, BiCheZ!
@lemonobrien
In a paradigm shift, there is no 'capitulation'
There is simply a shift of consciousness
This oldman 'feels' that this where we are
Sometimes 'knowing' is beyond words
Inductive reasoning needs no help
It is or it isn't--------------not much to hang your hat on om
Hey Oldm,
If you're still around, would you mind letting us know what country south of the border you are residing in?
ekwa-door, but shhhhhhhhhhhhh!!!!!!
We're full up, I'm sorry to say
Try Costa Rica there is no culture shock there--it is practically the same as NYC om
Can you even name ONE possible instance when history has repeated itself? I challenge you! Oh...wait...then I'm going to plan my financial security on picking 7 numbers with a skill and talent never seen before (in history).
@Willy
Yeah, you've asked this same question before, Willy
Nothings changed om
"Though individually the Romans were exceedingly economical and carefeul in the management of their private property, the state as such was extravagant and careless with state revenue. It was found impossible to protect the public property from being plundered by private individuals, and the feeling of powerlessness resulted in reckless indfiference."
-Wilhelm Ihne
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
--Marcus Tullius Cicero
"For the mob," Polybius [athens] writes, "habituated to feed at the expense of others, and to have its hopes of a livelihood in the property of its neighbors, as soon as it has got a leader sufficiently ambitious and daring, being excluded by poverty from the sweets of civil honors, produces a reign of mere violence. Then come tumultuous assemblies, massacres, banishments, redivisions of land; until, after losing all trace of civilization, it [the mob] has once more found a master and a despot."
Polybius of Megalopolis (200 - 118 BC)
http://armstrongeconomics.com/693-2/2012-2/anatomy-of-a-debt-crisis/
Caesar instituted labor reforms intent upon reducing what we would call the unemployment rate. If one could replace workers that had to be paid salary with slaves, given the high degree of agricultural economic activity that was at least 70% of the economy if not more, the competition between slaves and the poor was a serious problem. To this issue, Caesar enacted legislation against the owners of latifundia obligating them to recruit a third of their employees in pasturage from free men.
It's a long read, but it proves that this time, it's still the same.
"until, after losing all trace of civilization"
When will people FINALLY get IT, that "civilization" isn't sustainable? Go ahead, find ANY city, during ANY time, that, without pillaging the countryside, was sustainable.
Thinking that old championers/"wise men" of enslaving cultures were somehow giving us clues... no, their "messages" were allowed to be handed down by the very enslaving cultures that they operated/lived off of. The nerve of fuckers like that calling others leeches when in fact it was THEY who were the REAL leeches, THEY who created and maintained the very system that constructed such outcomes! Those professing to be talking heads should live up to this title, by having to lose their bodies!
As Nietzsche put it: "break the tables."
We're right between anxiety and denial. You know. Like that time you picked up the pregnancy test with your girlfriend.
...or your sister.
Denial....except that in 1929 they did not have the added benefit of headline reading algos driving HFT programs....
Yea what may have taken 6 months to happen in 1929 now takes place in 5 minutes....timelines comparing then and now are totaly worthless.
2 people didnt like this obvious truth? I guess they must wear bowler hats around.
I agree, nobody seems to remember the flash crash. The HFTs can frontrun everybody to the exits. This crash will last minutes and the dead cat bounce seconds.
What will investors do, barter for pitchforks or stay home and cry?
When a flash crash shaves 50% off the indices, if only for a nanosecond, then I would declare it comparable.
How many trillions of dollars in outstanding derivitives did the Street have to deal with in 1929, eh?
We are well and truly fucked, my friend. All that's left is the choice of dildo.
Larry Fink, Feb 9, 2012:
"Investors should have 100% of investments in equities because of valuations and higher returns than bonds"
so he's been selling into this since Feb? pretty smart guy!
Indeed...he sold $35 million of his own stock, BLK.
L0L!
we should be so insecure?
he just printed it, i'm sure; not like he had to BTFD or anything...
Cdad I'm all-in equities....'equities' being food and generators and fuel and ammo of course.
Sorry, but Central Planning is a whole lot more powerful now than it was then. Things will feel and look bad, but there will be no sell off.
Yep. There was still a half-assed sound currency then. Now there's nothing but a little paper and arbitrary digital numbers in a database. This is uncharted territory for America, although it has played out elsewhere many, many times before. Expect a stock market and unemployment at all time highs.
Soon as the bankers smell smoke, its over, they pull the rug out while idiots believe stocks can never go down ever again. What are people today, on dope?
Mr Hand.
I guess the question is will the Fed allow the banksters to pull the rug?
They do get to pick winners and losers if the crash is not a complete SHTF event.
Well, the FED is the central banksters, so whats the difference?
Of course they will.
Once they are on their way out of the country.
I hear Paraguay looks great this time of year!
Let me guess, younger then 33 years, never been beyond the U.S. borders, and just maybe you live in a densely populated area "but inside of a box wrapped in foil".
Keep on thinking that Central Planning will not let anything happen, of course you would think that the 1930's never would of happened, if people could only learn from history....
It is funny how many time history has to be repeated, yet everyone reads the history books. Shame on us for not learning a damn thing!
Shame on you for believing in a MIRACLE !
Central planning is totaly screwed at this point. They believed they could print and pump and create a mania and SELL their money printing to the public...and look at it all now...biggest failure in history. No ones touching stocks, the more they pump the worse it gets for central planners, and now if they do more of the same they get $6 gas and $6 bread...they are SO screwed. Lots of people want to believe theyre SO smart and 'its all their plan' well I dont believe it for a second these people have epic screwed themselves.
What's with the prolific posting tonight SD? I haven't seen you this worked up in ages.
Keep it up. You are on a roll.
re the above, THIS time we MEAN it! The gun is empty and the Zombie horde is approaching. What do you think their plan B is? I, for one, think they have one and that we are not going to like it much :-)
Trayvon and Latwana...coming soon to a neighborhood near you. That's the plan.
What do you mean,"they are SO screwed." We are so screwed. Unless you are totally off the grid, the OPEC nipple, and have your own farm, you're part of We.
I survived two different central planning economies and I you are right, that things will feel and look bad, and there will be no sell off, because there is nothing to sell, because everything gets confiscated.
Cant really 'sell off' when theres no one to sell to even 50% lower....no whats coming will be far WORSE than a mere sell-off.
Lets be prepared
Thanks for pointing out what seems to be lost to those "money on the sidelines" idiots. For every seller there must be a buyer. There is no net change in money on the sidelines! And if you're both buyer and seller (the current condition) how will you exit your position? That's what the bagholders (the PDs) know all too well. Once you start selling the price crashes. And it happens a lot faster than any low volume pumping scheme.
I say we are at denial... deep denial... when all the printing to date has done nothing, it is safe to think 'gee Wally, you think everything is going to turn out o.k.?' 'Beav... dad is going to clobber you when you get home..' 'Oh Wally....'
Media in denial and depression, Wall St jumping around in euphoria and panic, so the financial world is manic/depressive, Main St trudging in depression....the bottom and top of the charts all at the same time.
You'd think by now that somebody on ZH would have the 'username' & 'avatar' of Eddie Haskell...
When that happens, I'm calling a TOP!
Aww c'mon, it is obvious we have been in "Hope" for the past 3 years!
We are at the second one of a Double-Top. How did things go starting 4 years after the crash of 1929 again? Mr Bernanke, you are the Great Depression enthusiast. Care to answer?
Until January 30, 1934, US Treasuries and J.P. Morgan's Railroad Bonds were redeemable for Gold. That's 4-years until the SHTF and WWII bought recovery.
Financial fraud is still politically connected. Now however, government and military is 35% of the GDP and health care is 16% of GDP, and financing debit is a bigger slice of GDP. Treasury-Fed again promote fiat dollar devaluation to grow the US economy. POTUS blames high gasoline prices on tax deductions for oil companies because the Chevy Volt is not competitve at any price.
Foreign oil imports decline as domestic oil production and refined product exports outgrow an anemic economic recovery. The US economy will turn around wihen the US is self-sufficient in oil and gas, the CFTC is disbanded and commodities return to real world market pricing.
The war didn't bring recovery.....BRETTONWOODS did!
MIC, bitchez!
Ag commods were crazy today.
Indeed, the inflationary touch of CME front running assumptions resulting from this morning's Ag report...which is so skewed by bogus USDA inventory numbers that no assumptions can actually be made.
this'll make the sodbusters and the guys and gals in shitboots look great to agCredit
Have a Great W/E cdad and Slewie! Stay sharp on that China CPI! http://www.forexfactory.com/calendar.php
Personally, I'm buying the fact.
hm in junior gold mining stocks me thinks we`re almost at "capitulation" which might mean later this year it could be a good buying oppertunity. even some midtear profitable producers only trade slightly higher than their 2008/2009 lows...
Difference is the banks trying to stabilize the market in 29 were using real money - now the Fed can create any amount neeeded with a few keystrokes.
Yea well their 'fake money' is only 1 side of an equation....got to pass off that pump to someone sooner or later or else youre just a big bagholder, and there are no buyers! FED creating 'money' out of thin air and pumping up stocks and stuffing them into banks is NOTHING in itself unless you can sell it to someone else, and no ones buying. The more they try to pump now just means theyre putting themselves into worse trouble.
Unlike 1929 there is NO reason for the Fed to not opt for the nuclear option of monetizing the debt and hyperinflating the currency. It will simply be too tempting to pass up.
Well hell theyve already DONE monetized everything in sight already.
I believe many are near desperation (ie the media) in attempts to make thing look so much better than they are.
I know some personally near depression. Those who cannot afford to feed themselves. Some are my family members.
I got my 20 year old son to give me a weekly budget today. It's $200 a week. I bet he can't keep to it. And that's with me paying his cell, car insurance, medical, clothes, tuition and books, gym and such
Wanna adopt me?
Why on earth would you pay for all of that for a 20 year old grown man?
No offense, but dont be shocked if has a hard time standing on his own later.
I don't know what sounds dumber to me ... The supposition that your 20-yr old can't live on $200 a week with all other major expenses paid, or the fact that you are funding all of this.
The way I read the whole picture is by now they all figured retail would be all-in on the stock market designed bubble mania again, that hasnt happened because people are wised up a bit and dont trust it, also theyre broke anyway and can barely buy food...and theyre now completely out of ideas as to what to do next.
To add to that, they are wised up because they are retiring and they remember 2008 very vividly.
No good to retire and beg for food.
"Hit me baby one more time...."
Wow. I guess ZH has heard about 1929 :::::::)
AHhhhh, That SWEET Canadian Air! Nice Post's!
The skew ( with respect) to the Q-1 numbers should be interesting.?
The veneer seems to be cracking. usd/cad is having trouble @ parity? What the heck do I know?
eventually you will be right but not today...
So what color are we at on the roller coaster?
I think it might be either the purpley-pink or pink. But what do I know, I'm not an economist.
Where is the "fucked" point on that time line?
I don't find it. That's where we are.
LOL good point.
I read a book recently, 1929 america before the crash. Good read on the pschology of people near the tops.
What did you think of the link I recommended yesterday?
This is roughly the same as the 1920s, only some details have changed due to population size and greater globalization due to more effective global communications, etc.
Back in the 1920s, securitization was in the form of stocks, rather than bonds as it is today. Their seven-year bankster ultra-leveraged run lasted until the Great Crash of 1929, then in 1933 the Securities Act was passed to halt those securitizations.
Today, a similar seven-year bankster ultra-leveraged run crashed around 2007/2008, but there's been nothing similar to halt the present securitizations (and re-securitizations, and re-re-re-re-securitizations, etc.) -- and please don't mention that Dodd-Frank travesty!
So, in that regard there has been a difference, as this time they simply restarted their ultra-leveraged run ---- but can it last another seven years, or only half that time --- in which case watch the end of July, 2012????
I can't predict it, this is all new territory for everyone. But it sure does look like history repeating itself --- back then it was untaxed liquor with money laundering through the stock exchanges --- today it's untaxed drugs (why do you think all that push back against the legalization of marijuana????) and money laundering through "dark pools" and that captured privatized Mexican banking system thanks to NAFTA.
This time when they pull the rug out it will be not by world war beach landings, but by ICBM's landing. That could be any day now, bankers are screwed. Sleep tight.
You forgot the real estate speculation boom of the 20's
This time is different. In 1929, banks steped in to buy stock in order to stop the panic. Today, the bank already own the stocks. Funny how it "works."
Exactly, as the last couple articles pointed out the banks are stuffed full of toxic bubble stocks and screaming for retail to come buy them. It aint gonna happen...no one to pass off the pump to as retail is broke.
They fucked up big this time, they SHOULD have let the money printing go to the people, hell even if it was $50,000 checks to people....even that would be better than this! Theyre totaly painted into the corner and have no way out except a total collapse of the system.
Real nice work, idiots.
Sorry, but I must respectfully disagree with both The Dog and Xela.
They didn't really save the day by buying up a few stocks, they simply gave good eye candy, or put on a good show --- in reality they were purposely crashing the system --- just as they always do --- so they could pick up the pieces at bargain rates --- you have to understand the full profit cycle of everying, beginning with the fraudclosure scheme.
And please remember, it came out in the popular press back then -- 1933 -- that JPMorgan, just like today, hadn't been paying any federal taxes for a bunch of years.
JUST HOW RIGGED IS IT ???
JPMorgan Chase (this applies to Goldman Sachs & Morgan Stanley, but more so to top rat JPM) was responsible for lobbying congress for the overturning of Glass-Steagall, while it created the credit default swap, and countless variants of CDOs. It has enjoyed the strongest derivatives position since that time.
JPMorgan was responsible for structuring the securitized-mortgage-foreclosure profit cycle:
they profit from lending the mortgage, then profit from its securitization, then profit from its foreclosure (especially the FHA loans, where they automatically are reimbursed almost all of the original amount), then profit from its reselling, then profit when it's securitized again.
And JPMorgan Chase has been involved, both directly and indirectly, in offshoring jobs and promoting massive offshoring of jobs -- when then leads to economic problems and unemployment, thus leading to default on mortgages, resulting in foreclosures, further profiting JPMorgan Chase.
And if those unfortunate souls then must put in for food stamps, JPMorgan Chase profits from that program, as it is routinely, nationally and locally, handled by them and their banks.
And it doesn't end there, as those jobs are offshored to countless foreign factories, and foreign production facilities, and state-of-the-art research & development laboratories and training centers of which normally are financed -- over the past three to four decades -- by US foreign aid (USAID, OPIC, various and sundry other programs, etc.). [And people thought all those executives doing stints at those former government agencies -- they've now all since been privatized -- were actually performing public serivice?]
That's correct, you the taxpayer and your descendants, have paid for the multinationals' foreign enterprises -- while they pay almost no taxes, or usually none at all (over 70% of American-based multinationals and corporations at last count paid no federal taxes).
Just how rigged is it??? It's completely rigged.
Well I dont know what youre 'disagreeing' with me over, where did I ever say 'they saved the day'? What? Youre saying basically what Im saying. Yea it was all printing for eye candy, they thought they could print out of thin air and make everything LOOK good....problem is now, and HUGE miscalculation is theres no one to dump to. Printing and pumping is pointless, unless you can pass the pump off to someone else, and thats where theyre at now looking around saying 'PLEASE retail you got to buy stocks NOW!' All theyre going to get is crickets chirping.
The difference between your two positions is that SgtDoom is saying that the current situation (and the imminent outcome) was deliberately planned, whereas you are saying (as I read your comments) that the banks, politicians, bureaucrats and multinationals simply made a huge mistake!
For a long list of reasons, I agree with SgtDoom. Sorry, dog!
I agree...that would have worked -- bailout money directly to the people -- Tragically, the FED system doesn't allow it. Money to King Banker -- hope pennies trickle down.
We live in a modern Feudal system...King Banker - we pay tribute (interest) to the King via the King's ownership of debt-based currency. Think about it...the FED (king banker) doesn't answer to elected representatives or the President. The FED Reserve Act of 1913 put into law - a privledged banker class. It's unconstitutional.
Not one to usually disagree with the Tylers, but I would find it difficult to believe we are in the "optimism" stage. I think we just peaked at "euphoria" - it just didn't feel that extreme because this maybe the first market euphoria absent retail. The market has ignored every piece of negative news for six months - and the financial system has only become worse.
Watch the coming EU elections and bond yields in the coming weeks and see the return of "anxiety".
Fake painted on clownface euphoria, masking the tears of the clown underneath....if anything we've got a manic/depressive basketcase situation.
Well said. Basket case indeed.
In addition to Tyler's chart, you have another uncharted formation.
Inflamatory Expert Cited | How to feed your family on 10 Biillon per day.
http://iowahawk.typepad.com/iowahawk/
Iowahawk-- always one of the best reads evah!
Personally, I'm at despondency/depression.
According to this, life is about to get awesome again.
Yay.
Life is always awsome, just in peculiar ways.
http://www.youtube.com/watch?v=8s3JI_DWvWg
Yeah. Remember this...
http://www.zerohedge.com/sites/default/files/Market%20Crash.mp3
the problem this time is the public took it both ways - up the ass, and in the pocketbook!
can anyone believe in modern history, that what would be most likely expected in a China, Russian, or for that matter, in a third world country, the banks were bailed out without any restitution
http://www.youtube.com/watch?v=chysEoANK7c&feature=related
The reference to the break in the markets seems antiquated - this is the way it will happen again, just like LTCM. If we're not already seeing the unwind of derivatives from a quadrillion dollar bet. We're down from the peak if you believe the rumours:
http://www.youtube.com/watch?v=mvfdzgFnVxI&feature=relmfu
Speaking of derivitives, is there any way to monitor their unwinding? I have heard this is the factor to watch. But I have no clue how to do it. Thanks!
the guy in china is in optimism the guy in Athens is in desperation and the guy in paris is in denial. Now in the USA the guy is in euphoria if he is 1% and in fear if he is 99%. If he's a brit he is in a pub...