Posted on 11/25/2012 2:50:26 PM PST by blam
Stock Market Last Push Higher Before the Big Collapse?
Stock-Markets / Financial Crash
Nov 25, 2012 - 01:59 PM
By: Graham Summers
With most of Wall Street on vacation, those few traders manning their desks are taking advantage of the low volume to push the market sharply higher. This, combined with a large move up by the Euro has pulled the entire risk trade up forcing the US Dollar lower.
This move was to be expected on some levels. Since 2002, there has been a rally from just before Thanksgiving until the second week of December. This year is shaping up to replay this move. Stocks and other risk assets were certainly oversold from the preceding week and needed a breather.
However, from a larger perspective there is no shortage of truly horrible developments in the world. EU budget talks failed to accomplish anything. This comes on the heels of failed Greece debt talks from last week (there is another meeting next week on this).
Meanwhile, France has lost its AAA credit rating, Spain’s bad bank plan has been dropped due to lack of interest. And then there is Cyprus Portugal and soon to be Italy’s issues to deal with.
At the end of the day, the whole issue in the EU boils down to whether or not Germany will foot the bill for everything. The fact of the matter is that it won’t. If Germany were to agree to fund things as they are (assuming nothing worsens in the EU), it would amount of over 30% of its GDP.
Never in history has one country issued a transfer of that amount to another. The single largest transfer in history (on a GDP basis) was the German Marshall Plan, which represented only slightly over 6% of US GDP.
So forget about Germany writing the check. There will be political machinations and games played to maintain the house of cards that is the EU… but when push comes to shove, Germany will leave before it foots the bill for everything.
And then of course there is the fiscal cliff in the US: the single largest tax hike increase in US history (on a % of GDP basis). Ignore the media’s spin on this, no one has a clue how to fix the problem, largely because math is not partisan and we’ve been living beyond our means for far too long to fix this with one deal.
The reality is that what we are witness today is the collapse of the welfare states of the developed world. The real solutions (defaults both sovereign and on social spending plans) are completely unsavory from a political perspective, so politicians will do all they can to avoid what actually needs to happen.
In simple terms, the great debt implosion has begun. It will likely take several years to complete, but what’s coming will make the 2008 debacle will seem like a picnic.
This is why I’ve been warning that 2008 was just the warm-up. What is coming will be far far worse.
If the dead can vote...
If the Dead can vote then the dead gotta be able to eat and do many other things that a normal person can do, well except hold a job and be a productive member of society.
The Dead Gotta Eat...
It just occurred to me, all those dead voters need to eat too, I mean if you are dead and you just spent a long election season voting several times for your favorite democrat president, the food stamp president and you get bupkiss for your your vote, well nuts to that, why not sign your corpse-y self up for some government cheese? I mean if dead people gotta vote, dead people gotta eat too?
If Obama is gonna double down in his second term, why not double down on his food stamp numbers by making sure that his favorite voting block is asking “what can government do for me”....
So grab a shovel and a piece of paper and pencil and an acorn clipboard and head down to the local cemetery to sign up the dead tired, starving to death, and those who are just dying to get a good meal or two...
The dead gotta eat, and voting is hungry work.... Starve the beast by feeding the dead...
The Dead Gotta Read...
You gotta be able to read to vote and the dead are no exception. I would suspect that the dead read things like the New Your Slimes, Washington Compost, Mother Bones, and the Rolling GraveStones... So every single magazine subscription card you get need not be thrown away, instead fill it out with name of the dead voter and the address of their residence which would be the cemetery. The dead have got to be able to read all the liberal crap magazines because after all they vote Democrat Every Single Time....
The dead gotta read, cause you gotta read to vote... Starve the liberal MSM media beast...
The Dead need a Phone...
Besides Voting the dead gotta be able to take phone calls, how else are they supposed to respond to pollsters asking them which way they will vote. It is so very hard to get a landline installed at your grave-site these days but there is a solution, the magical Obamaphone is just the thing. Sign up all these poor “Living Impaired - Americans” to an Obama Phone or two, heck they may need more phones as after the batteries run out in their first phone they can’t recharge them, I haven’t seen too many electrical sockets in graveyards.
The Dead gotta be Polled... Starve the Beast by Picking up the Courtesy phone...
Many may think this is humor but it is not supposed to be funny, and many here have talked about “Going Galt”....
To heck with “going Galt” it is too slow, instead of going just over their heads by going Galt and refusing to be a maker, Go WAY OVER THEIR HEADS and “Poll Vault” by becoming a SUPER TAKER, or an “Under Maker” and sign up the dead to as many social programs and government freebies as undead-humanly possible.
If it is good enough for an election system that the UN observers from crap-hole countries are surprised about how insecure it is. But the left cries “voter suppression” like a stuck pig when a simple fraud prevention measure like photo ID is required by a state, then why the hell should the welfare state and the apparatus that supports it be any different.
When you are fighting against people who’s playbook is dedicated to satan (rules for radicals), you have to start using the playbook written by cuthulu!
Trying to play Mr. Rogers doesn’t work when the Civil Society has been destroyed by the “Great Society”, it is time to play Mr. Machiavelli.
To hell with Civil Disobedience, it is past that now, it is now time for Economic Disobedience, and Social Program Disobedience.
They want Communism, Maybe we should give them so much damned communism they choke on the damn stuff by collapsing the socialist systems they have “frog boiled” us into taking. We MUST shove that communism they love so DAMNED MUCH so DAMNED far down their DAMNED throats that they will still be crapping out hammers and sickles after they become the “Voting Dead” because they will be ANYWAY.
But is must be done SOON, because once they take away certain parts or all of amendments 1-10, the quick reset option will not be possible, just misery and Soviet style decline.
Imagine what happens to all the Federal retirements invested in the “market”, and all the contractors, bureaus, and agencies, connected to the Federal government, and all the “fund” managers connected to investing this racket...if...
...if
...Everyone else isn’t Extortion-Care shake-downed and taxed shake-downed.
Democrats are wrong about virtually everything.
However there is one thing they are right about: American jobs.
Republicans have continued to outsource US jobs past the point of reasonability. Well past that point now.
What is needed is for America to start trade tariffs. Small at first but country-wide. We must rebuild American production.
If a country runs a surplus against America, then enact tariffs on their products. If a country runs a (large) surplus against America, then increase the tariff accordingly.
The current situation is so unsustainable it is unreal.
” - - - the fiscal cliff in the US: the single largest tax hike increase in US history (on a % of GDP basis). - - - “
Thanks for this quote from the article that you posted.
Benghazi-Coward Obama has AGAIN run out of our money, and like spoiled brat wants to keep on spending our money. Hence, the tax hike ‘Merry Christmas’ Present to all.
Spendaholic Obama is the worst Financial Steward that the USA has ever had. I expect that we will go below the 666 on the S&P in the coming Obama Depression.
BTW, would you mind posting a thread on the Panic of 1873? Could be that Incompotent, Spendaholic Obama causes even a bigger one in the Bond Markets.
“What is needed is for America to start trade tariffs. Small at first but country-wide. We must rebuild American production.”
Which will not change the Federal paradigm one bit.
As I have said many months (years) ago, Federal jobs must “become” (incentive to stop) into totally private business, no longer tax connected.
No you are wrong.
If we were building jobs in America you would be right. The solution would be to privatize.
The thing is, our side is outsourcing jobs.
Outsourcing.
So the Dems win. That is what happened this time, and it will get worse not any better unless we reverse course.
We need to stop outsourcing jobs. We need to re-introduce American jobs.
And we need to start paying a heck of a lot more attention to where things are made.
Importing does not help America.
Not one bit.
Jeep manufactured in China is a GM Obama THANG! And the lies keep on coming
To the extent that outsourcing is done by Dems you are right.
However the outsourcing I see is mostly on our own side.
We need to make things in America, and we need to advocate for that. Constantly.
What we are doing now is rooting for the enemy.
Then we wonder, why we lost.
We are at 50% now. Our current direction will lose. By INCREASING amounts.
The solution: Change directions.
no... you are wrong.
If we were building jobs in America you would be right. The solution would be to privatize
Federal control (PART, of the Federal paradgim,) won’t allow your plan.
Furthermore...as I’ve said MONTHS ago (posted), the start are, “regulation” free/allowance zones, for manufacturing to return to home soil.
I think we agree in part, on the problem.
Our difference is in deciding at what point do we start supporting American workers over foreigners.
I am of the strong opinion we have used up our foreign alternative. Any additional foreign involvement in the management and work at American companies, and of American imports, is destroying America.
You do not seem to agree.
I get that, my opinion is less optimistic than yours.
We need to start looking out for America first.
“Our difference is in deciding at what point do we start supporting American workers over foreigners.”
Once again, neither party (they ARE now Federal parties, the whole problem) will never allow that. Furthermore, their entire current foundations, are now essentially “foreigner.”
Well I respectfully disagree.
Right now we are zooming out (way) beyond reasonable balance.
We are now also 16 trillion in debt, as a result.
And we (the GOP) are now at just 50% approval. And FALLING.
I predict we will change direction, or the GOP will fold soon.
This current direction is not sustainable.
Democrats have gone along with outsourcing as well, but you are correct that it has past a reasonable point.
Not only that, we are importing thousands of Indians, Taiwanese, Chinese to fill positions.
We need to reignite American manufacturing or we will never produce the GDP necessary to dig out of this fiscal mismanagement.
Recently took a motorcycle trip to NC. We traveled primarily all roads off the beaten path.
Small town America is dead, manufacturing facilities all across the south were scuttled and vacant.
Very sad to see this.
“>>Republicans have continued to outsource US jobs past the point of reasonability.<<
Democrats have gone along with outsourcing as well, but you are correct that it has past a reasonable point.
Not only that, we are importing thousands of Indians, Taiwanese, Chinese to fill positions.
We need to reignite American manufacturing or we will never produce the GDP necessary to dig out of this fiscal mismanagement.
Recently took a motorcycle trip to NC. We traveled primarily all roads off the beaten path.
Small town America is dead, manufacturing facilities all across the south were scuttled and vacant.
Very sad to see this.”
You know who has been the oracle about immigration and the loss of our manufacturing base, the proverbial canary in the coal mine, ... Pat Buchanan. He has it right, doesn’t he.
I’ve always like Pat Buchanan. A great nationalist.
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