Via Zerohedge: “The Reverse Robin Hood Construct”
It seems the entire global economy has been subverted by the rich robbing from the poor.
It’s been said a sucker is born every minute, but should our economy be based on their victimization?
I can’t see how this won’t end badly.
But should we care about the stats when our team keeps losing?
“”What we see in the United States and some other economies is a statistical recovery and a human recession.”
Larry Summers, Davos, Jan 30, 2010 (via CNBC)
Plus, he’s actually quite wrong on the stats and also understates the human reality:
Sadly for many, the stock market will eventually reflect reality.
This isn't going to end well.
Where's the money coming from?
Employment over decades of boom/bust
Formally highly liquid, Money Markets to get new withdrawal lockouts just like your favorite hedge fund.
South Park, once again ahead of the curve.
Video below IS work friendly, unless or course, you work at a TBTF Bank.
When good advice is bad advice.
If you’re worth +10 mil, stop now…nothing to see here…you’ll be just fine.
Worth less, please continue, and buy Gold soon, because the S&P is a mirage and your job might be a mirage too.
Just because it’s a bull for three months doesn’t mean it’s not an irrational bull.
A bear only needs to be right once a decade to make money. 2000 and 2008 make us two for last eight. If we can batt .300 by getting 2009 in the win column, to paraphrase David Winfield; baseball, and being a bear, is the only job where you can fail 7 out of 10 times and still make million
What perma bull made money from 1998 to 2008 with a buy and hold strategy ?? NONE.
Bears don’t make 50% in six months like the S&P, but they don’t lose 40% in that time either. Any math with tell you that losing 40% (S&P actually lost 57%) leave a million dollars down to $600,000 so followed by a gain of 50% (S&P currently up 55% from low), leaves you at $900,000 down $100,000.
Not so for a realistic and hedged bear over the last 12-16 months. For the prudent bear the returns are much better, say down 10% then up 20% (rather -40% than +50%). This takes the million down to $900,000 then back up to $108,000. Sure you only made $8,000 (8%) but that crushes the loss perma-bulls endured.
Look at any long term S&P charts and the evidence is clear.
Bulls should acknowledge and apologize for the last, going on eleven, years of BEAR market fact. The same people who were shouting bull were shooting bull. And they still are.
1. Military Contractors- Ten of Trillions
2. Wall St. – Trillions
3a. Automakers – Tens of Billions
3b. Red Necks with old Chevys – 3 Billion
4a. Insurance Cos – Hundreds of Billions pending
4b. Pharma – Hundreds of Billions pending
4c. Doctors – Tens of Billions pending
4d. Patients – a better feeling pending
I must be missing some but you get the gist.
Not content to take just your house, Arizona is now letting banks go after former homeowners for money, even after the foreclosure is sold to a third party.
The way it used to be in Arizona: buy house for $80,000 grand, borrow $100,000, default and you lose the house.
The way it now is in Arizona: Buy house for $80,000 grand, borrow $100,000, default, bank takes house, sells house to real estate vulture for $40,000, bank can now chase former homeowner for $60,000, for the rest of their lives.
And we all know the banks and the vultures are probably the same people.
Old Test: “If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest.”
New New Test: “If you lend money to people who are poor, make sure the law and the fed are on your side.”