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.
Once
again, the latest fire and brimstone sermon by Marc Faber is
absolutely spot on, starting and ending with his "policy" recommendation
for what the US needs: "I will tell you what the US needs. The US
needs a Lee Kwan Yew who stands in front of the US and tells them,
listen you lazy bugger, now you have to tighten your belts, you have
to save more, work more for lower salaries and only through that will
we get out of the current dilemma that essentially prevents the economy
from growing." No money printing, no extensive protests, no
excuses. Of course, this would have to accompany a global overhaul of
the system, something Zero Hedge has been advocating since day one, as
it is impossible to reform this broken system from within: "The
problem i have with the investment universe is that i find it
difficult to envision how the US and western Europe can return to
healthy sustainable growth without a complete purge of the financial
system and some type of catalyst. Something that restores some measure of social cohesion among people; it
could be hyperinflation, a complete credit market collapse,
widespread sovereign defaults, civil strife, major military
confrontation.”Alas, in
that he is also correct, and as we said back in early 2010, when the
current episode of extend and pretend ends and the can kicking exercise
finally fails, next up is war.
Sarkozy and Merkel continue to make "plans" for what to do... The
reality is all they're doing is playing for time while they prepare for a
Greek default. Indeed, German officials recently...
A few weeks ago Steve Liesman ramped stocks higher for the day after he released a subsequently disproven rumor that
the EFSF would become a CDO square, recycling private investments into
sovereign debt. Well that rumor is now dead and buried, so it is time
for the next one involving that uber multi-functional Swiss Army Knife
which is the EFSF, and apparently has an infinite+1 number of
applications, none of which involve actual cash funding. The source of
this latest brilliant idea is Pimco parent, Allianz, which has trillions
in fixed income exposure all over the world, so it is no wonder it is
pushing hard for the world's taxpayers to bail it out. Only instead of a
recycling cash, this time the EFSF will become Fed-Lite, "insuring"
trillions in debt.
The "powers that be" have lost control of the markets.
Both the IMF and the Bank of England have warned we are facing a
financial meltdown of historic proportions and possibly the worst ever
in...
On Friday, Zero Hedge broke the story of the "next ABX",
in the form of PrimeX, or the game of jumbo prime whack-a-mole. It
appears that was indeed the beginning. Here is today's update from
Morgan Stanley in a market which had gone suspiciouly silent since our
post, and has now gotten quite vocal again with a vengeance. From MS: "On a day where most macro indices point to bullish sentiment, PRIMEX is getting clobbered again.
Last week, it felt like px action was driven by dealers hedging cash
inventory/unwinding index longs, with retail providing a bit of a
short-covering bid. Today, however, it seems that the short-covering bid has gone silent, and the marginal buyer can't be located under his desk."
Italy rejected the budget today. I can't imagine that it is because
the opposition wanted more austerity. That must make the Slovakians
even more eager to provide the EFSF with money to buy Italian bonds. The
IMF has declared that they went to Greece (because they had purchased
non-refundable tickets) but are going to give our money to Greece even
though none of the alleged criteria were met. How long are countries
going to let IMF control their money so whimsically? Since EFSF will
likely be approved, I wanted to see what the Eurozone was going to do
with all that "cheap" money. As you can see clearly from the graph,
French bond spreads are widening relative to Germany, and EFSF spreads
are widening slightly faster than that.
Today, at 1:15pm Pacific Time (4:15 EDT), the head of DoubleLine Funds, Jeff Gundlach will hold an open discussion and webcast on the question of whether risky assets are cheap enough. Among the headline topics will be what the most efficient portfolio allocation for the current market going forward is (for those who missed the efficient frontier including real assets, gold appears to have been the best performer over the September 2008-September 2011 with a comfortable margin especially over equities, period much to the chagrin of various naysayers).Anyone can join the webcast at the following link; phone lines will also be made available at (877) 407-1869 or for international calls (201) 689-8044. Full webcast presentation of the webcast presented below.
It seems that everyone's favorite Dr.Doom is selling his consultancy
after only several years of operation, David Faber reports. The
consultancy, according to confidential sales materials, will generate
$11MM in revenue and $2MM of losses. The bulk of clients of the 85
person shop, Faber reports, is corporations, not actual investors,
making the buyside wonder "who incremental clients will be." We wonder
just how any potential buyer will be able to lock up Roubini for several
years, without whose presence RGE will have questionable going concern
value. We wish @Nouriel the
best of luck in his sales process, whose successful conclusion (or
otherwise) probably means that Roubini will end up as a blogger and
paid panelist.
If you find useful information, please consider making a small donation, to help cover some of the labor and cost for this blog.
Once
again, the latest fire and brimstone sermon by Marc Faber is
absolutely spot on, starting and ending with his "policy" recommendation
for what the US needs: "I will tell you what the US needs. The US
needs a Lee Kwan Yew who stands in front of the US and tells them,
listen you lazy bugger, now you have to tighten your belts, you have
to save more, work more for lower salaries and only through that will
we get out of the current dilemma that essentially prevents the economy
from growing." No money printing, no extensive protests, no
excuses. Of course, this would have to accompany a global overhaul of
the system, something Zero Hedge has been advocating since day one, as
it is impossible to reform this broken system from within: "The
problem i have with the investment universe is that i find it
difficult to envision how the US and western Europe can return to
healthy sustainable growth without a complete purge of the financial
system and some type of catalyst. Something that restores some measure of social cohesion among people; it
could be hyperinflation, a complete credit market collapse,
widespread sovereign defaults, civil strife, major military
confrontation.” Alas, in
that he is also correct, and as we said back in early 2010, when the
current episode of extend and pretend ends and the can kicking exercise
finally fails, next up is war.
On Friday, Zero Hedge broke the story of the "
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