Archive for 2012

THe WoRLD iS FIAT…

Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.

THE WORLD IS FIAT

 

 

COLUMBEN: THE WORLD IS FIAT

(WilliamBanzai7)

In the year two zero one and two
ColumBen sailed the fiat ocean blue.

He had three ships and left insane;
QE 1, 2 and 3 and a Keynesian brain.

He schemed by night; he fooled by day;
This PhD farce always got his way.

A Keynesian compass helped him know
How to schtup each and every average Joe.

Ninety men were on board;
Those men worked while the bankstas snored.

Then when the workers went to sleep;
The bankstas screwed them like big sheep.

Day after day they looked for Ponziland;
They dreamed of fiat trees and Ponzi sand.

October 8 their dream came true,
You never saw a bigger BLS Bullshit stew!

Look: “Employed Indians!” ColumBen cried;
His heart was filled with joyful pride.

But “India” the land was not;
It was Amerika, and it’s economy was shot.

The angry natives weren’t very nice;
All they gave the bankstas was a noose.

ColumBen sailed to find some Ponzi gold
To bring back home, as he’d been told.

He made the trip again and again,
But all he found was an empty Keynesian pen.

 

 

.
THE WORLD IS FLAT





As Hugo Chavez Wins Presidential Re-election Someone Makes Absolute Killing On InTrade

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Moments ago the Venezuelan Electoral Council (one wonders if the term ‘Hanging Chad’ has a different meaning down there?), announced that with 90% of the votes counted, and an 80.4% turnout, the winner of 54.4% of the vote, and still reigning presidential champion, is Venezuela’s Hugo Chaved. This is not surprising. What is quite stunning however, is that someone made an absolute killing in the Chavez reelection contract, which after trading in the 80s range (indicating an 80% probability of reelection), dipped moments ago to the low 20s, following speculation Chavez may be on the way out, only to soar to 99.9 as of the last trade. In other words, someone just made 5x their money on the Chavez vote in minutes, money which has most likely been well spent on Cuban Cohibas by now. Congrats.

Source: Intrade





Why ‘Savers’ Should Vote Republican And ‘Homeowners’ Democrat

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Forget the nuances of taxes, abortion rights, social warfare welfare, religion, or entitlements. The following chart is all the average US Citizen needs to know in order to unflap that hanging chad in November…

 

 

Of course, we are being a little disingenuous, but the last 50 years of election cycles show a very clear rise in interest rates post-election when Republicans win and an even more pronounced drop in interest rates post-election when the Democrats have won.

 

However, it might be different this time…

 

Source: Citi





As World Awaits Venezuela Presidential Results, Tanks Enter Caracas

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Update: HUGO CHAVEZ WINS VENEZUELA RE-ELECTION, ELECTORAL COUNCIL SAYS. Contrary to exit polls as noted earlier, Chavez won 54.4% of the vote, with 90% of the votes counted, and a 80.4% turnout, according to the Electoral Council. At least the local APCs are fully stocked on Whoppers for the next few days.

While the world awaits with bated breath to find out if Hugo Chavez has lost the first “presidential” election in 14 years (an outcome with major implications for the crude market), which according to the latest exit polls he was trailing 48.1% to 51.3% to challenger Henrique Capriles, Diebold post-processing and hanging chad pro forma-ing notwithstanding, the question is what happens if there is a peaceful overthrow at the helm of the Latin American commodities powerhouse. And we use the term “peaceful” loosely: because the twitter stream is currently abuzz with a picture of tanks in Venezuela’s capital as seen below. Hopefully they are merely waiting in line at the drive thru for the latest BK value meal and nothing more.

And since everyone knows what Hugo Chavez (who recently took possession of the country’s LBMA gold stash, perhaps rather prudently) looks like, here is what Venezuela’s next leader may very well look like if Caracas has not figured out how to operate the Diebold machines yet.

More from Reuters.

Venezuela’s presidential election looked headed for a close finish on Sunday with Hugo Chavez facing an unprecedented challenge to his socialist rule from a young rival tapping into discontent over crime and cronyism.

 

An energetic campaign by centrist state governor Henrique Capriles, 40, has united the opposition and turned him into its best chance in 14 years to unseat the popular president and take the reins of South America’s leading oil exporter.

 

Chavez has used record oil revenue to support ideological allies around the world while preaching a fiercely anti-Washington line, so the election is being watched eagerly from the United States to Belarus and Iran.

 

Polling stations closed at 6 p.m. local time (2230 GMT), except for those that still had voters waiting in line.

 

Sources on both sides predicted a narrow victory based on their own monitoring. Several unofficial exit polls gave divergent results,


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Merkel Protected by 6,000 Police; Expect Huge Anti-Austerity Protest; Greece Needs Time and Money (And Something Else)

Courtesy of Mish.

German chancellor Angela Merkel is visiting Greece this week in an alleged show of solidarity. Reuters notes it will take 6,000 police to protect her.

German Chancellor Angela Merkel will tell Greeks she wants to keep their country in the euro when she visits Athens this week, but she faces a hostile reception from a people worn down by years of austerity and recession.

Many Greeks blame Merkel, who has publicly chastised them for much of the past three years, for the nation’s plight. Opponents, some of whom have caricatured her as a bullying Nazi, have promised protests on Tuesday during her first visit to Greece since the euro zone crisis erupted there in 2009.

“She does not come to support Greece, which her policies have brought to the brink. She comes to save the corrupt, disgraced and servile political system,” said Alexis Tsipras, who leads the opposition Syriza alliance. “We will give her the welcome she deserves.”

About 6,000 policemen will be deployed in the capital for her 6-hour visit, turning the city centre into a no-go zone for protest marches planned by labour unions and opposition parties.

“We don’t want her here,” said Yannis Georgiou, 72, who has seen his pension cut by one third. “We will take to the streets against austerity and against the government. Maybe Merkel will hear something and see what we’re going through.”

Solidarity? Really?

Is Merkel’s visit really a show of solidarity? Solidarity between whom? Between politicians conspiring to screw Greeks for the benefit of banks?

Merkel Arrival in Athens to Be Met by Anti-Austerity Protesters

Bloomberg reports Merkel Arrival in Athens to Be Met by Anti-Austerity Protesters

“Mr. Samaras said we should welcome Mrs. Merkel as she deserves,” said Alexis Tsipras, the head of Syriza party, which finished second in the June elections and has urged workers, the unemployed and young people, to join the rallies. “We completely agree.”

Samaras has warned that soaring unemployment and political unrest risk the kind of upheaval that undermined the Weimar Republic in post-World War I Germany and ushered in the Nazis. His coalition is currently negotiating a new round of budget cuts to unlock the next aid payment to keep the country afloat.

GSEE and ADEDY, the umbrella


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Guest Post: America’s Hijackers – Where Are They Now?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Mark McHugh of Across The Street blog,

Spoiler Alert: They’re mostly still in office  (so much for building suspense).

On October 3, 2008, 338 elected officials (263 House reps, 74 Senators and 1 President) took it upon themselves to save America from certain financial doom by passing the Emergency Economic Stabilization Act of 2008, completely ignoring the will of the American people,  opting instead to fulfill a Thomas Jefferson prophesy:

“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” 
~ Thomas Jefferson

Texas representative Ron Paul had this to say:

“The money for this bailout does not just materialize out of thin air. The entire burden will be borne by the taxpayers, not now, because that is politically unacceptable, but in the future….our children and grandchildren will be burdened with increased taxes in order to pay that increased debt…. For years, many people have been warning about the housing bubble and the inevitable bust. Congress ignored the impending storm, and responded to this crisis with a poorly thought-out piece of legislation that will only further harm the economy. We ought to be ashamed.”

The most memorable component of that piece of treason legislation was the $700B TARP (Troubled Asset Relief Program), which was scrapped by Treasury Secretary Hank Paulson 11 days later in favor of the Capital Purchase Program (CPP), which injected money directly into banks.  In February 2009, new Treasury Secretary Turbo Geithner ended the CPP and announced the Capital Assistance Program (CAP), which also blasted money directly into banks.

Fun Fact: Hankenstein Paulson worked at Goldman Sachs for 32 years and served as Treasury Secretary for 31 months.

So TARP never happened; making discussions of the program’s merits every bit as psychotic as analysis of Ross Perot’s presidency, but that didn’t stop CNBC from having a birthday cake for TARP, nor does it prevent politicians from claiming that the fictitious program was somehow profitable.  To make that claim, you must use accounting techniques pioneered by Homer Simpson in “Lard of the Dance” :

Homer Simpson: Okay, boy. This is where all the hard work, sacrifice, and painful scaldings pay
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Paris Luxury Apartment Prices Slide As French “1%”ers Dump Real Estate To Avoid Soaring Taxes

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Back in July, when the news of the French foray into the “fairness doctrine” hit, and we learned of Hollande’s plan to tax all those making over €1 million at a 75% tax rate, we said that “we are rotating our secular long thesis away from Belgian caterers and into tax offshoring advisors, now that nobody in the 1% will pay any taxes ever again.” We should have also added that we are buying all the available long-dated call options in French real estate firms, with the imminent surge in luxury real estate dumping, once the French “1%” decide they want nothing to do with a regime that is hell bent on confiscating 75% of their annual cash flow at first, and slowly moving toward pocketing the balance of their assets (remember what we said in September 2011: that 30% global tax on all financial assets in a New Normal insolvent, and wealth redistributive world, is inevitable, and it is coming). Sure enough, the wholesale dump of luxury properties has now begun.

AFP writes: “A flood of top-end properties are hitting the market as businessmen seek to leave France before stiff tax hikes hit, real estate agents and financial advisors say. “It’s nearly a general panic. Some 400 to 500 residences worth more than one million euros ($1.3 million) have come onto the Paris market,” said managers at Daniel Feau, a real-estate broker that specialises in high-end property.” But that would mean that in the New Normal real estate is once again merely a credit-bubble dependent, flippable asset: not a long-term housing investment, but merely one in which the pursuit of the greater fool is all that matters (not news to anyone here, but certainly news to all those who actually believe that ‘housing has bottomed’).

Turns out it hasn’t, and just like the stock market, it was simply an alternative asset class for those closest to the ZIRP cost basis, to invest their money until Uncle Socialist comes a-knocking.

From AFP:

A flood of top-end properties are hitting the market as businessmen seek to leave France before stiff tax hikes hit, real estate agents and financial advisors say.

 

“It’s nearly a general panic. Some 400 to 500 residences worth more than one million euros ($1.3 million) have come onto the Paris


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The Three Toughest Questions For China Bulls

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Whether you believe China is an economic miracle – or a government-sponsored fraud; and can ignore the broken growth model or believe that the CCP can bailout the world; Michael Pettis, of China Financial Markets, provides a much-needed dose of reality for bulls and bears when it comes to the future of the global growth engine. After summing up (and laying-waste to) the three mainstays of China bulls' arguments: he asks the three toughest questions any China bull must be able to answer. Analogizing China's position perfectly he cites Mills: "Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." Simply put, the bull argument cannot ignore the hidden bad debt.

Via Michael Pettis, China Financial Markets: How To Be A China Bull

There seems to be a worried resistance to the idea that we may have reached a major and difficult transition. The unwillingness to acknowledge the difficulty of the transition, however, can only make the transition all the more difficult.

[The Bulls] are largely constrained themselves to three arguments, which are the same three very unsatisfying arguments that we have heard many times before.

First, they presented historical data showing rapid Chinese growth rates in the past three decades and proposed past growth rates as evidence of rapid Chinese growth rates in the next two decades. I probably don’t need to explain why this is a very weak argument.

Second, they asserted (many times) that since past predictions of failure have all turned out to be wrong, future predictions must also be wrong. If this were true it would, of course, be irrelevant, in the same way that people who predicted in 2002 that the Spanish real estate market was out of control might have been early but they most certainly weren’t wrong. Rudiger Dornbush once said: “The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought, and that’s sort of exactly the Mexican story. It took forever and then it took a night.”

But this argument, that past predictions have always been wrong, isn’t true. There have been predictions of failure in the past 20 years that


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Five Fun ‘Pre-Earnings’ Facts For The “Buy-The-F$$$ing-Dreamers”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With the S&P 500 once again testing multi-year highs, forward P/Es over 14 in a real-rate environment which suggests single-digit P/Es, abnormal micro-structure (mega-caps outperforming and high-beta fading in an up-tape), and a buy-the-f$$king-'dream' mentality soaking in everywhere, we take a close-up view of the earnings season reality that is about to come crashing down on multiple-expansion hopes. Following on from the five most ridiculous charts in US equity markets, these five 'facts' will be assuaged by every long-only manager as 'priced-in' – we suspect otherwise.

 

 

  1. Downward EPS revisions have outnumbered upward revisions for 22 weeks
  2. For the S&P 500 companies, there have been 91 negative pre-announcements versus 21 positive
  3. The 4.3x negative-to-positive pre-announcement ratio is the highest since 2001
  4. Of the S&P 500 companies that have reported thus far (25 total), only 52% have exceeded expectations (long-term average is 63% and last four quarters average 67%)
  5. Overall Q3 earnings are expected to fall 2.5%

And as a reminder – Via Citi:

When investors consider the earnings expectations for the next several quarters, it must be noted that a few sectors seem to have an abundance of optimism that may or may not be warranted. For example, the Materials sector is showing a big bounce in 1H13 earnings projections that may require much more clarity on global economic reacceleration, while Financials are expected to rise sharply as well. Hence, these two areas might require some ratcheting down of forecasts and management teams may begin to do so in the next few weeks.

We have highlighted some of current measures of complacency, which may not be entirely appropriate in the very near term (next couple of months) given the US elections and the related fiscal cliff, recent European social unrest and the need to curtail some of the profit growth enthusiasm. In the medium term (2013), many of the analytical models we use still argue for overall market gains, and thus we believe weakness should be seen as a buying opportunity.

(h/t @Not_Jim_Cramer)





Jon Ronson: Strange answers to the psychopath test

Jon Ronson: Strange answers to the psychopath test

 

Quotes by Jon Ronson

"Well, I think I have a precarious sense of self anyway, but I'm also sane enough to notice when it's slipping."

"Capitalism, at its most remorseless, is a physical manifestation of psychopathy."

"It's a lot harder to convince people you're sane than it is to convince them you're crazy."

"[Journalists take] the outermost aspects of our interviewee's personality, and we stitch them together like medieval monks. We leave the normal stuff on the floor."

“He’s a grey area in a world that doesn’t like grey areas. Yet that’s where you find the complexity, the humanity, the truth.” 

Read more here >

 





 
 
 

Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...



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Phil's Favorites

This Is The One Chart Every Trader Should Have "Taped To Their Screen"

Courtesy of Zero Hedge

After a year of tapering, the Fed’s balance sheet finally captured the market’s attention during the last three months of 2018.

By the start of the fourth quarter, the Fed had finished raising the caps on monthly roll-off of its balance sheet to the full $50bn per month (peaking at $30bn USTs, $20bn MBS, although on many months the (balance sheet) B/S does not actually shrink by this full amount which depends on the redemption schedule) and by end-Q4 markets also experienced some of the largest volatility and drawdowns in nearly a decade.

As Nomura&...



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ValueWalk

The Competition For Capital Has Made Stocks Cheap

By Michelle Jones. Originally published at ValueWalk.

The new year is upon us, and now is the time many investors look at what 2018 was and prepare for what 2019 might be. Recession jitters are starting to pick back up again, especially now that the full picture of 2018 is in the books. But what if you could pick only one theme for 2018? Jefferies strategist Sean Darby and team have a suggestion which is especially timely given that it appears to mark the end of an era.

StockSnap / PixabayVolatility carries into the new year

This past year was one of extremes, and the markets ended i...



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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



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Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



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Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

http://www.insidercow.com/ more from Insider

Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

Reminder: We are available to chat with Members, comments are found below each post.

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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