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Slouching Toward Okeefenoke - Kunstler
There won't be a civil war. There is no place to draw the battle lines. It will be constant civil insurrection.
Yep, record low prices at the same time as record low supply.
Yep, you're going to be reading a lot about money-market funds running hither and yon.
Close your eyes and, click your heels three times.
The only way that they can get more dollars to do loan service is to sell us more stuff.
There are NO reins on that horse.
It is a little bit late to start worrying about that. The exit will be closed pretty soon.
"That companies would be scrambling to repurchase their stock last month was not lost on one particular group of investors: the corporate insiders of the companies buying back their own stocks.
According to data compiled by TrimTabs, insider selling reached $450 million daily in August, the highest level this year; on a monthly basis, insiders sold more than $10 billion of their stock, the most of any month this year and near the most on record.
corporate insiders are ramping up share selling as the major U.S. stock market averages are at or near record highs," TrimTabs wrote in a note.
In other words, as insiders and management teams authorized record buybacks, the same insiders and management teams were some of the biggest sellers into this very bid, which one would say is a rather risk-free way of dumping their stock"
John Hussman once again shows excellent data to predict a 50-60-70% decline in the stock market. The data is great. I can't take issue with it. Armstrong shows sovereign debt completely collapsing. So, a 50% collapse of equities is a better deal than a 100% collapse of sovereign debt. Not only that, corporate bonds are looking TERRIBLE. There is a shift out of emerging markets. The money has to go somewhere.
The banks made a killing before and after the 2008 collapse. They were in NO way motivated to reform. There was even more regulatory capture. Not surprisingly, this has set the system for an even bigger collapse.
"Securities ended Q3 2008 at $8.070 TN, having about doubled from year 2000. The government agencies were integral to the mortgage finance Bubble - fundamental to liquidity excess,"
"$7.544 TN during Q1 2012. Since then, with crisis memories fading and new priorities appearing, GSE Securities expanded $1.341 TN to a record $8.874 TN. Of that growth, $970 billion has come during the past three years, as financial markets boomed and the economy gathered momentum. A lesson not learned."
"But overall global debt has surged: last year it was 217% of gross domestic product, nearly 40 percentage points higher - not lower - than 2007."
"The big beasts are even bigger: at the last count America's top five banks controlled 47% of banking assets, compared with 44% in 2007, and the top 1% of mutual funds have 45% of assets."
"Regulators pledged to clamp down. So did the shadow banks shrink? Not quite: a conservative definition of the shadow bank sector suggests that it is now $45tn in size, controlling 13% of the world's financial assets, up from $28tn in 2010"
"I've never viewed the 2008 fiasco as a "failure of the free markets." It was instead an abject failure of policymaking - of government policy and central bank doctrine and methods."
What do you expect when the parasites run the show?
America will be in there sooner or later.
Secret Grand Jury Proceedings Underway Against Andrew McCabe; Witnesses Summoned
The entertainment looks to be improving.
U.S. GOV has cut way back on tax collection to give the economy a temporary boost. This has cut way back on FED GOV income.
"The U.S. Government paid $40.5 billion in interest expense this July versus $28.7 billion for the same month last year. "
"Total U.S. interest expense in 2017 was $458 billion while the amount paid this year is $455 billion and we still have two months remaining."
Wait til Powell really gets the bit in his teeth.
There won't be a civil war. There is no place to draw the battle lines. It will be constant civil insurrection.
Yep, record low prices at the same time as record low supply.
Yep, you're going to be reading a lot about money-market funds running hither and yon.
Close your eyes and, click your heels three times.
The only way that they can get more dollars to do loan service is to sell us more stuff.
There are NO reins on that horse.
It is a little bit late to start worrying about that. The exit will be closed pretty soon.
"That companies would be scrambling to repurchase their stock last month was not lost on one particular group of investors: the corporate insiders of the companies buying back their own stocks.
According to data compiled by TrimTabs, insider selling reached $450 million daily in August, the highest level this year; on a monthly basis, insiders sold more than $10 billion of their stock, the most of any month this year and near the most on record.
corporate insiders are ramping up share selling as the major U.S. stock market averages are at or near record highs," TrimTabs wrote in a note.
In other words, as insiders and management teams authorized record buybacks, the same insiders and management teams were some of the biggest sellers into this very bid, which one would say is a rather risk-free way of dumping their stock"
John Hussman once again shows excellent data to predict a 50-60-70% decline in the stock market. The data is great. I can't take issue with it. Armstrong shows sovereign debt completely collapsing. So, a 50% collapse of equities is a better deal than a 100% collapse of sovereign debt. Not only that, corporate bonds are looking TERRIBLE. There is a shift out of emerging markets. The money has to go somewhere.
The banks made a killing before and after the 2008 collapse. They were in NO way motivated to reform. There was even more regulatory capture. Not surprisingly, this has set the system for an even bigger collapse.
"Securities ended Q3 2008 at $8.070 TN, having about doubled from year 2000. The government agencies were integral to the mortgage finance Bubble - fundamental to liquidity excess,"
"$7.544 TN during Q1 2012. Since then, with crisis memories fading and new priorities appearing, GSE Securities expanded $1.341 TN to a record $8.874 TN. Of that growth, $970 billion has come during the past three years, as financial markets boomed and the economy gathered momentum. A lesson not learned."
"But overall global debt has surged: last year it was 217% of gross domestic product, nearly 40 percentage points higher - not lower - than 2007."
"The big beasts are even bigger: at the last count America's top five banks controlled 47% of banking assets, compared with 44% in 2007, and the top 1% of mutual funds have 45% of assets."
"Regulators pledged to clamp down. So did the shadow banks shrink? Not quite: a conservative definition of the shadow bank sector suggests that it is now $45tn in size, controlling 13% of the world's financial assets, up from $28tn in 2010"
"I've never viewed the 2008 fiasco as a "failure of the free markets." It was instead an abject failure of policymaking - of government policy and central bank doctrine and methods."
What do you expect when the parasites run the show?
America will be in there sooner or later.
Secret Grand Jury Proceedings Underway Against Andrew McCabe; Witnesses Summoned
The entertainment looks to be improving.
U.S. GOV has cut way back on tax collection to give the economy a temporary boost. This has cut way back on FED GOV income.
"The U.S. Government paid $40.5 billion in interest expense this July versus $28.7 billion for the same month last year. "
"Total U.S. interest expense in 2017 was $458 billion while the amount paid this year is $455 billion and we still have two months remaining."
Wait til Powell really gets the bit in his teeth.
BlS
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