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Yep, it's their "Get out of jail free" card. They tucked right under the Monopoly board.

I knew that it would come to this..i.e. they'd literally never raise rates again and bury their collective heads in the sand and pretend there were no mal-effects to perpetual ZIRP. It's so utterly predictable, simply because the establishment sees rising asset prices as their only form of...

The only problem is that O. campaigned on a bunch of "change" and all that we've seen is a continuation of the status quo. In fact, that get's to the very heart of why he has alienated just about everyone outside of those who are still so consumed with their hatred of Bush, that they still...

Just like all of the substantial revisions to GDP are merely a footnote, months later.

I'd be willing to bet you've been going long each day for the past week. Just as you were more than likely going short many days the entire ride higher. The pundits advice always assumes a "funny money" unlimited bankroll. They supposedly go long all the time, never sell, and then put all...

I disagree. The ratings agency stuff is sort of a convenient excuse for what has been building in the pipeline for many months. If this were simply "ma and pa" bailing out of their mutual funds, Gold would not have gone parabolic while equities were sold en masse. And this counter-party...

That is true, BUT that market bottom at 666 was a bit too weird even for my cynical self. A decline of 6.66% kind of does the same thing... People out of habit dismiss all sorts of shit as "conspiracies", but to some extent I don't rule out the notion of a satanic element to everything that...

lol, the media. This wasn't mom and pop creating this market debacle. If anything, the build up of months/years of Fed induced complacency is responsible for this "oh shit" moment.

Spot on, as usual. It's also a case of "live by the sword, die by the sword". The fact that regulators not only allow HFT to basically dominate the markets and push out "would be" liquidity creates an ever increasing number of "liquidity vacuums" (i.e. those times such as now and throughout...

I have a different theory, but somewhat related. I honestly don't think that many investors got back in post 2008. Lots of liquidation at losses and the upside volume was abysmal the entire ride higher. I sort of thought of it as a shell game played between the Fed and the money center banks...

Sarcasm aside, you don't agree that pricing the SP relative to a "hard currency" does make a bit more sense in light of all the Fed shenanigans?

Right, "starting at what level", which is why that article you posted over this weekend was so utterly ridiculous. You realize that the hordes of guys getting long on each decline and "longer" on the way down lose more in a single day than they probably could have made in months with low...

Yes, those funds do a "reset" just about every 2-3 years. Of course, that never stops the stampede into these funds that always think "this time is different" or the "Fed will never allow the equity markets to drop". Time always has a way of creating such unfounded complacency.

Yes, eventually, I don't know about in the next few days. But hell, even though supposedly everybody is "bearish", all I saw today were guys going long and getting longer. The entire world bets on the side of the Fed saving the markets for the umpteenth time.

Yes, I agree with you on this one. The pols. do alot of grandstanding to try and feign support for their "constituents", but ultimately it's those lobbyist dollars that get their votes. On the other hand, with all the handouts and crony capitalism infestation, the pols. were apoplectic at...

But I guarantee only a small fraction of them were short. This is literally a carbon copy of the sentiment/market positioning from back in 2008. People are bearish, but they constantly "buy the dips". It's the psychology of 20+ years of constant Fed intervention on declines. People are...

A little bit of a problem with your proposal...who has jurisdiction to tax these corporations 50%? They set up affiliates in tax friendly jurisdictions and move it around to avoid said taxation. I suppose the long standing rumors of a movement towards a one world currency would address...

And the same thing could be said for your breathless bullish rants over the past year. Just recently, you've come up with this defense that the markets would be "choppy" and that you've gone to the sidelines. Regardless, you lost your "bet" with Atticus.

That is the insidious nature of inflation. The increase in prices in smaller, staple items will tend not to raise eyebrows, but it's the cumulative effect of ALL of those smaller, staple items rising in unison. It goes further than that though. More often than not, we've seen these...

The only thing that I saw during the carnage of 2008 were guys too afraid to short because of the intense volatility, but never afraid to try and bottom pick just about every day. Case in point was crude oil. That market dropped from $147 to $38 and I literally never saw anybody shorting...