The Idiocracy made a comedy about getting financially obliterated, because for them collapse was a one-time event that was fixed by borrowing more money...This time however, they went ALL IN, including Wall Street. Occupy smoking fucking crater...
"The Big Short" movie, about the 2008 collapse is due out this weekend:
The joke is on our grandchildren...Annual growth in debt. Current run rate +$1 trillion per year i.e. double the defense budget - I mean "Keynesian" bombing of foreigners...
"The bailout was repaid"
Counting debt as GDP: FULL RETARD
GDP - debt (annual). Debt as we see above, is growing at a rate of 5.5% of GDP per year. Whereas GDP itself is 'growing' 2% i.e. any honest person would say we're in a -3.5% recession...
This just in:
"And then they were handing out million dollar mortgages, no money down...can you believe it?"
Speaking of deja vu asinine mortgages...
The "hero" from the 2008 "farce", who shorted subprime mortgages - Michael Burry - just went long mortgages. I will go out on a limb and say this tool isn't going to be making bank on collapse this time around...
And only a dedicated Idiocracy would think that someone who shorted subprime for colossal profit, is a hero. Starting this weekend the Idiocracy can laugh about losing all of their money, while losing all of their money...
And today, high yield credit spreads (junk) are at the widest levels since Lehman...
[Insert laugh track here]
