Nature has a built-in limit as to how many vacuous dumbfucks can co-exist at the same time.
We are now six standard deviations past that limit...
Log Periodic Bubble aka. Nasdaq
"Oscillations occurring with increasing frequency and decreasing amplitude"
"Oscillations occurring with increasing frequency and decreasing amplitude"
Income Inequality Doesn't Exist, According to Those With Above-Average Incomes
The Pope came out swinging last week against Ponzi capitalism. Then Sarah Palin and Rush Limbaugh rushed to the defense of Trickle Down Voodoo Economics. How could Reagan be wrong? He only had Alzheimer's for half of his Presidential term (aka. ~4 acting seasons). Since then, the internet has been going Full Retard with this debate. Here's one I read today. Apparently, the only real question on the table regarding income inequality appears to be - do we include foodstamps as income or do we not? You can't make this shit up. I've noticed that the only people who can't acknowledge income inequality all have above average incomes. Go figure.
Too Much Income
Food stamp assistance was just cut by Congress, because it's causing people at the low end of the income scale to have "too much income". Included in those affected are almost 1 million military veterans. The Faux Newstards only like veterans when they go to war, not when they come back (alive).
http://www.trivisonno.com/food-stamps-charts
Thirty Years of Reaganomics aka. "Burying the Grandchildren"
Too Much Income
Food stamp assistance was just cut by Congress, because it's causing people at the low end of the income scale to have "too much income". Included in those affected are almost 1 million military veterans. The Faux Newstards only like veterans when they go to war, not when they come back (alive).
http://www.trivisonno.com/food-stamps-charts
Thirty Years of Reaganomics aka. "Burying the Grandchildren"
Anyone defending the status quo at this late juncture is a morally void artifact of a morally void era. Nothing more, nothing less.
U.S. Debt (red line) v.s. GDP (blue line):
Hindenburg Clusterfuck
Today was the first Hindenburg Omen in several months. The last clusters coincided with the tops in May and August, yet obviously, they didn't lead to a collapse. That said, bulltards should seriously start to wonder why new 52 week lows are climbing when the market is still near its all time high.
Herding (aka. conformity): The Critical Ingredient for Panic
That figure above of the Nasdaq attenuating, has caused realized volatility to drop to multi-year lows. At the same time, the multi-year advance without any significant pullback has meant that the vast majority of put options have expired worthless. Essentially time decay has been relentless for two years straight. Ironically, while options have never been cheaper, owning options has never been more expensive. If I buy something cheap and it expires worthless, the initial low price is small consolation. Of course, this is all just a disaster waiting to happen because volatility is mean reverting. Low volatility is merely a reflection of mass reflexive complacency brought about by mass conformity. The masses believe that there is safety in conformity. The fact that the Investors Intelligence ratio of bulls:bears has fallen to a new multi-decade (26 year) low is clear evidence of that fact. Unfortunately, panic is merely a function of too many people doing the same thing at the same time i.e. selling. If everyone is on the same side of the boat, then panic becomes inevitable.
Sector Correlation: Approaching Finite Singularity
(Sectors: Consumer Staples, Transports, Healthcare, Semiconductors, S&P)
Beyond Overbought
200 DMA TRIN
Nothing Matters Until it Collapses
50 DMA breadth is still diverging
Full Casino
New 52 week highs are still diverging relative to the market, but casino stocks were among those making new highs (e.g. Wynn, Las Vegas Sands)
LVS Almost went bust in 2009, but it's soaring now. You can't make this shit up...
BitCasino: Social Mood is Fraying
Bitcoin got shellacked twice this week and kept coming back for more. First the Chinese government came out a couple of days ago and said it was not a legally recognized currency. Then today Baidu came out and said they will no longer accept it, because it's too volatile i.e. exactly why I said it would ultimately fail. Now it's shaken not stirred. I will go out on a limb and say that this thing is now toast. From a technical perspective it's been monkey hammered at this level several times and is due to hit the canvas DOA. The bottom pane is the bollinger band %:
Consumer Non-Confidence
Consumer confidence had its biggest spike on record today. However, on a relative basis unfortunately it's lower than it was in 2007, which is lower than it was in 2000. Don't tell anyone, it's another secret...
The Age of Bullshit is Ending With a Blow-off Top in Bullshit
If it seems like the collapse is taking forever, it's because it is. The markets are attenuating in a log periodic bubble towards finite singularity. Today's copious bullshit spewing morons will be the last to realize it's ending. In the meantime, they will go about their regular business of assuming that the status quo is indefinitely sustainable while they blow smoke up our asses non-stop. The age of lies, delusion, and mass conformity is ending with a rush to embrace the inherently unsustainable for one last Prozac-fueled manic moment.
