On the two year anniversary of the original New Wall Street Reality list, it is time for a long overdue update.
The New Wall Street Reality 2011
- 1st of the month=housing showing signs of life
- 15th of the month=housing showing signs of stabilization
- The reality of shadow inventory=never mentioned
- Single dip= reality
- Double dip=reality reminder
- Robbing American citizens blind=stabilization between the first and second dip
- I’m broke= "restraints in income......."
- Your grandmother’s broke=QE2
- Everyone’s broke=bad weather was a factor
- The unexplained rise in sales of cat food=QE3 is an unequivocal success
- The end of free markets=victory for the bulls
- Fake statistics=bears caught off guard
- Soon to be revised statistics=bull rally continues
- Inevitable revision of statistics=POMO day
- 1000 point drop=Waddell and Reed sold something
- No human is stupid enough to buy stocks=another round of cuts on Wall Street
- Oil at $120=QEx
- Oil at $100=QEx
- Oil @ $90=QEx
- Oil @ $50=A huge boon to the economy
- QEx=put it together yourself
- Hard times=’Summer of Recovery’
- Harder times=”Welcome to the Recovery”
- Rats on a sinking ship=U.S. Economic recovery team
- Guy who cut more jobs here than created=Jobs council leader
- Guy who lost a billion dollars=Chief economic advisor
- Guy who cheated on his taxes=treasury secretary
- NY fed chief who bought house near the top of the fed induced housing bubble=same guy
- Guy who completely missed housing bubble=guy to help fix housing depression
- Joke= economist
- Bad joke= Wall Street economist
- The joke of jokes=Joseph Lavorgna
- 100,000 jobs created =recovery
- 18,000 jobs created=soft patch
- Surge in pitchfork sales=rescindment of birth/death model
- Record stealing=trillion dollar stimulus
- Massive Theft=QE2
- Complicit to it all=congress and senate
- Global kleptocracy=The ‘New Normal’
- In prison=Bernie Madoff
And the one we should all be very, very wary of:
- U.S. TROOPS HAVE JUST INVADED CANADA= “monthly jobs print has just come in at -72,000”
Courtesy of J-Dub