David Rosenberg's "Most Troubling" Statistic

Gluskin Sheff's Chief Economist and Strategist David Rosenberg is repeatedly asked:

"What statistic troubles him most?"

As he tweeted  today, his answer is simple:

13 Million!

As Rosie explains:

"That's the number of people who have joined the financial services industry since the last credit collapse ended..."

Why is that so "troubling"?

"These youngsters have only known bull markets in everything from weed to FANGs to Picassos to Crypto...uber low interest-rates, endless QEs, and economic expansion..."

 

"And are they in for the surprise of their lives!!"

Comments

BeanusCountus Fester Wed, 04/11/2018 - 20:25 Permalink

Happen to like this guy.  But the last time I listened to him it resulted in missing a significant part of the biggest rally in the history of the market.  Just sayin.  Gartmanesque, actually.  Anyway, predicting anything in this “market” is nearly impossible.  Direction changes on a tweet, central bank statement, etc.  Add to that the whole financial system is a mirage based on faith.... anyone up for a little roullette?  If so, you pick: Russian style or Vegas style?

In reply to by Fester

Cognitive Dissonance Wed, 04/11/2018 - 17:08 Permalink

It appears experience is no longer counted in decades, but in CPU cycles.

The shorter the better since the newer computer CPU's are supposedly faster, thus 'better'. Or at least that's what the algo's tell me.

DillyDilly Wed, 04/11/2018 - 17:10 Permalink

Rosenbergs most TROUBLING STATISTIC has nothing to do with '13 million'... Instead ~ it is that his tribe can't reconcile the number 6 million to any known facts, & the fact that he is 'known' in any way is because he's a beneficiary of that single solitary con job that has lingered for the entire lifespan of baby boomers & beyond.

 

The rest is irrelevant whether or not he dies rich, or hires the most expensive clown for little Solomons bar mitzvah...

FlKeysFisherman DillyDilly Wed, 04/11/2018 - 17:21 Permalink

During the Nuremberg Trials one "survivor" claimed the Germans had a bicycle powered whacking machine. He even drew a stretch. It was a paddlewheel connected to a bicycle that continually whacked the victim in the head until death. A Jew was made to power the bicycle...naturally.

There's all sorts of other horseshit stories they keep covered up from that farce of a trial. That one happens to be my favorite.

In reply to by DillyDilly

CriticalUser DillyDilly Wed, 04/11/2018 - 18:31 Permalink

Not difficult on an industrial scale. Hell, in Rwanda the Hutus&Tutsis managed to kill half to one MILLION with simple machetes. We are talking Africans here. So the Germans using industrial logistics and techniques? Easily.

Some jews had to do the disposal of bodies as forced labor before being themselves killed, so it required even less german manpower to fulfill the Endlösung (Final Solution) genocide. Educate yourself.

In reply to by DillyDilly

Arnold Arnold Wed, 04/11/2018 - 17:37 Permalink

"'Utf' evolved into Utes because of the obvious difficulty in saying 'Utf' as a single word easily in conversation. Utes originates in Christchurch, New Zealand. Utes is used generally to describe a person or situation that doesn't fulfill any purpose and therefore does nothing. 'Man that guy is so utes, he doesn't do anything'"

https://www.urbandictionary.com/define.php?term=ute

I beg to differ, it was Brooklyn or Queens.

In reply to by Arnold

cheech_wizard Muppet Wed, 04/11/2018 - 17:34 Permalink

Just man?

Drake Equation: Estimating the Odds of Finding E.T.

The Drake Equation is used to estimate the number of communicating civilizations in the cosmos, or more simply put, the odds of finding intelligent life in the universe.

First proposed by radio astronomer Frank Drake in 1961, the equation calculates the number of communicating civilizations by multiplying several variables. It's usually written, according to the Search for Extraterrestrial Intelligence (SETI), as:

N = R* • fp • ne • fl • fi • fc • L

N = The number of civilizations in the Milky Way galaxy whose electromagnetic emissions are detectable.

R* = The rate of formation of stars suitable for the development of intelligent life.

fp = The fraction of those stars with planetary systems.

ne = The number of planets, per solar system, with an environment suitable for life.

fl = The fraction of suitable planets on which life actually appears.

fi = The fraction of life bearing planets on which intelligent life emerges.

fc = The fraction of civilizations that develop a technology that releases detectable signs of their existence into space.

L = The length of time such civilizations release detectable signals into space.

Standard Disclaimer: L = 0 (or if you prefer, infinitesimally small)

In reply to by Muppet

resistedliving Wed, 04/11/2018 - 17:27 Permalink

Hey, you talking about my kid...

btw, he left six-figure Bitcoin profit on the table; now down 5 figs.

 

told his mother (who invested alongside) what happening now is Best Lesson he can get

sgorem Wed, 04/11/2018 - 17:42 Permalink

i think each and every one of those 13,000,000 little stinkers needs a fucking trophy for being such winners! or is that whiners?

moonmac Wed, 04/11/2018 - 17:59 Permalink

I'm used to paying $350 an O. The price just dropped to $250. My guy who has grower friends in Cali said it's going even lower soon.

Deflation is a Bitch!