The Coming Economic Collapse, Currency Induced Cost Push Inflation/Hyperinflation, Weimar Germany, Euro Collapse,
Zimbabwe Hyperinflation, Survival in Economic Collapse, World Economic Collapse, Dollar Collapse,
What Would Happen If the Economy Collapsed,The Coming Economic Depression.
Gold and Silver Will Protect Your Wealth.
Market forces will have “gone nuclear” on nearly all central banks before
this crisis is over. Smart ones that understand market forces and capital
flows have not been increasing their gold reserves because of intense
jewelry demand. Headline: Goldman Advises The Fed To Go Nuclear, And Set A
Target For Nominal GDP In his latest US Economics Analyst note, Goldman's
Jan Hatzius offers up his...
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Due to the rampant misinformation and disinformation
(please recognize and appreciate the distinct difference) being bandied
about, I've decided to run the #s 1 more time and put it right here
in...
First we have Credit Suisse saying 66 European banks will fail the 3rd stress test, and
will need hundreds of billions in fresh capital, something the market
ignored entirely last week but may want to reevaluate now that the
idiocy appears to have subsided. And now, inexplicably, we have Deutsche
Bank warning that France may well be put on downgrade review by year
end. "We highlight in this note that the French corporate sector is
already financially stretched, with poor profitability and large
borrowing requirements. We consider that the deterioration in
economic conditions is now creating a distinct risk that France could be
put under “negative watch” by the rating agencies before the end of
this year. We think that France has the wherewithal to react to
such an outcome and could avoid an outright downgrade by taking
corrective measures quickly, but this naturally would be a very
sensitive political decision a few months before a major election." Why
either Credit Suisse or Deutsche Bank would jeopardize their own
existence by telling the truth, we have no idea. If either of these two
banks believe they can survive a vigilante attack on French spreads,
and the subsequent shift of contagion to none other than Germany, we
wish them all the best. Yet that is preicsely what will likely happen,
especially now that the market's can not pull the trick it did for the
past two weeks, and stick its head deep in the sand.
Zero Hedge is the last to cut Wall Street, with its rampant
criminality, conflicts of interest, and corruption, any slack - in fact
we are often the first to expose it. That said, we have long found it
surprising that popular anger is focused on this particular group of
individuals, instead of targeting the just as, if not far more,
culpable for the current economic collapse enabling focal
point known as Washington D.C. As has been discussed previously, it is
no surprise that none other than the president has been quick to
embrace the Occupy Wall Street movement and its offshoots as his own:
after all it cleanly and efficiently deflects attention from his own
near-3 year performance as president. Surely Obama is neither the first
(nor last) to recognize that the scapegoating of a "minority" group
(as the Wall Street "1%" clearly is) and use it as a catalyst for class
warfare, is a historically very successful tactic. Well, while
thousands of people may express their displeasure with their plight
openly before the traditional symbols of Wall Street, it would appear
that Obama is failing in his attempt at global diversion from the place
where popular anger should truly lie: Congress, Senate, and of course, the White House, without
whose (and by 'whose' here we clearly envision Tim Geithner, Hank
Paulson and Ben Bernanke) blessings Wall Street would not exist in its
current form. Yet it does, and many have figured that out. According to a brand new poll by The Hill, "in the minds
of likely voters, Washington, not Wall Street, is primarily to blame
for the financial crisis and the subsequent recession. The
movement appears to have struck a chord with progressive voters, but it
does not seem to represent the feelings of the wider public. The
Hill poll found that only one in three likely voters blames Wall
Street for the country’s financial troubles, whereas more than half —
56 percent — blame Washington. Moreover, when it comes to the
political consequences of the protest, voters tend to believe that
there are more perils than positives for Obama and the Democrats."
Sorry Obama, your attempt to demonize bankers (who richly deserve the
public pariah status they have achieved, not least of due to the in vitro world
they occupy, where anything less than $1 million is pocket change) has
failed, and the people recognize that real social change, one that must and will impact Wall Street, has to begin with the commodity most often purchased by Wall Street: politicians... such as yourself.
For all its criticisms, if there is one thing one can say about
Goldman, is that unlike their pathetic TBTF cousins in the US financial
industry (JPMorgan, Citi, and shortly Morgan Stanley and Bank of
Countrywide Lynch), it can report a loss like a man. Which, in less
than 24 hours, it may have to do, for only the second time since its
1999 IPO. As Bloomberg notes, tomorrow the market expects the vampire
squid to announce at 8:00am Eastern that it had a loss driven by lower
revenues and debt and equity marks. Also, unlike the "others", we are
confident Goldman will not hide behind such blatant accounting gimmicks
as DVA and loan loss reserve releases (the second because the firm
never got into the lending business... on the other hand, the
FDIC-insured bank also has yet to open any ATMs, making one wonder just
why it continues to have taxpayer backing as a bank holding company,
but we digress). Here is what to expect tomorrow from Viniar and
Blankfein, courtesy of Bloomberg. Naturally the one thing nobody
expects is the announcement of a succession event at the top.
Considering the recent step function in popular "appreciation" of
financial innovation, we believe a Blankfein phase-out announcement
could be in the works. One thing is certain: Ferrari dealerships will
not be happy come Christmas as bonuses this year will be poor to quite
poor, if any.
Hark
- either the end is nigh, or we are about to see one of the biggest
market melt-ups in history: the man who conceived, developed, and
distributed the Birinyi Ruler to a Comcast financial comedy cable channel near you, and to late night comedy in financial circles everywhere, is no longer a Bull. He is merely a bull,
which is the also the first word one may apply to another very
appropriate word to describe his predictions from early on in the year.
For those who have their ultrasound babel fish on, here it is: "The
S&P 500 has been perilously close to a 20 per cent decline in recent
weeks which would, by definition, terminate the bull market which
began in March 2009. Given the economic circumstances and the
continuing political turmoil on both sides of the Atlantic, most
commentators believe it is only a matter of time before such a landmark
is reached. Having been bullish, I am – as expected – disappointed but not undaunted. I remain bullish if only now with a lower case “b”. Some
months ago I conceded that making market forecasts was increasingly
difficult as they entailed an understanding of American politics,
Chinese monetary and financial policy, Greek and Italian attitudes,
German elections in addition to the usual economics, corporate
developments and actions and comments by the Federal Reserve Board."
Obviously, all these are superfluous 'things' that a man of Birinyi's
intellect should not need to be concerned by. After all, what is good is
the 'ruler' for if not to predict the future? But before you go ahead
and pledge a 4th lien on your 3rd born to go all in stocks, here is the Notorious BIGGS, who bottom ticked the market a few weeks back with laser-like precision : "Barton Biggs Increases Bullish Bets in Traxis Macro Fund to 65%."
Needless to say, every time Biggs has done something, the market has
done the opposite. So for all those confused what they should do when
two of the market's most hilarious permabulls say the opposite things,
fear not - i) you are not alone, and ii) just buy a collocated vacuum
tube-based algo, and watch as the High Frontrunning Trading algo makes
you rich beyond your wildest dreams.
Given the economic backdrop in the US and Europe, I
remain convinced we’re breaking out of this range to the low side. I’ve
warned to get defensive for over a month now. This week looks to be a
good...
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Hark
- either the end is nigh, or we are about to see one of the biggest
market melt-ups in history: the man who conceived, developed, and
distributed the 
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