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Thinking out loud, but how many jobs that were created between 2003-07 were directly the result of the housing industry? Unless the infinite debt creation machine can blow bubbles greater than previous bubbles and somehow encourage people en masse to resume speculation in housing, where do we...

What kind of nonsense reply is that? The linked article that began this thread specifically addressed the economic situation in the US and now you are going to pretend to address the global economy?

Why does everybody automatically assume that we are "recovering"? Somehow slowing the death spiral of a debt collapse has morphed into "recovering". Anybody with half a brain can see that the only thing that is holding this house of cards together are backstops, bailouts and the potential for...

You've been one of the few posters on this site to have a great grasp of this stuff going back several years. From the "inflate or die" days back then to the new mantra of "extend and pretend". I agree, the lack of volume definitely represents a lack of transparency and crisis in confidence...

I've got to agree with S2000S who seems to be in as vocal a minority as the punditry on tv who are labeled as the "doom and gloom" crowd. Yeah sure he gets it wrong as often as the perma-bull shills get it wrong. Of course, the bullish shills have a very important ally in the corner, namely...

Exactly, we are covering the previous boom cycle in a parabolic state, even though the day to day activity feels as if it's going nowhere. Just like the latter stages of the 03-07 rally, the market makes the majority of its gains prior to the NY opening (i.e. just alot of opening gaps with bid...

"In a time of universal deceit, telling the truth is a revolutionary act" -George Orwell

Just think of this as 2003-07, except with a turbo booster. It's the convulsions theory at work, basically the market seems to be repeating the boom and bust cycles of yesteryear with greater amplitude. I see the exact same mentality of the final years of that phase where the buying goes on...

I was reading the comments section on a message board a few months back and someone made this exact same comment. He said he was in the deli at his local supermarket and the guy behind the counter was freaking out because his assistant was taking far too long to complete the order. The...

He can get 2 22" LCD's for $350 these days and 2 24" LCD's for $400. All with top of the line manufacturer's and 1920 x 1080 or 1920 x 1200.

"The recession ended in June" I hope was a tongue in cheek reply because all I see are sales tax receipts down and the majority of local governments in such deep shit it boggles the mind.

True enough, however, EVERY SINGLE inane idea will be attempted before we reach that inevitable conclusion. The final act will more than likely be confiscation of tax deferred assets. I can already sense that they have their eyeballs set on that gigantic piggybank. The rhetoric will pick up...

Good post. It would also be worthwhile to consider that "turning the corner" so to speak or as we are being told constantly will more than likely just unleash the "shadow inventory" (not the bank's per se), but all of the individuals who saw their homes value drop by a 30-50% over the past...

And this assumes 5 years forward that the "real economy" is static and that unemployment doesn't increase or that wages will keep pace. It also doesn't factor in that most municipalities which are already having a near impossible time maintaining budgets will not raise all sorts of taxes to...

And that was one of the core philosophical arguments in one of Taleb's books. The basic concept of perception of wealth as defined by one's relative standing to his/her peers.

Misthos really nails it. The expansion of derivatives that went into overdrive starting at the beginning of this decade is definitely a symptom of a monetary system nearing its end. The lax lending standards, packaging of bad debts, etc, etc were simply heavy handed attempts to continually...

If you pay enough attention, this whole horse and pony show of one Fed Governor jawboning a shift in policy from the consensus has been going on for years. It's just a feeble attempt to maintain this notion that they are vigilant and forward looking. It often coincided in the past with...

Not to step in the middle of a pissing match, but they are referring to Mark Faber, not the pundit David Faber that you mention...

Surf still has egg all over his face from his Baghdad Bob routine on the thread Pabst started almost 2 years ago. Surf's "information" is nothing more than a combination of empty cliche's and unsubstantiated hype.

Right, and you are the very same person who supposedly was in Vic's "inner circle" who knew absolutely nothing about Vic's status during the last debacle. Regardless, after 7 years of reading your lying bullshit, it would come as no surprise if you were aware of it and were doing your best to...