Wednesday, February 3, 2016

The Big Long: The Last Temptation of Dumbfuckistan

There wasn't one Bernie Madoff, there's an entire generation of Bernie Madoffs...

The CNBS circle of jerks continues...

"Value investor Bill Miller told CNBC on Wednesday he lost 20 percent in a month, but he thinks it's a good time to buy."



"They believed that printing money was the secret to effortless wealth, right to the very end. Because no one told them it wasn't. The text books never said that you can't outsource the entire economy. They were the dumbest fucking society in human history"





Wilshire Total Market Index


"Yay, no economy. Now we can get back to making money in stocks"

Stocks with the illusion-formerly-known-as-the-"Economy"
Another Fed rate hike cycle just ended...
BBG: Jan. 29, 2016
"The bond market is even more skeptical about the chances of a Federal Reserve interest-rate increase this year after the Bank of Japan’s surprise policy move."




Peak yield curve
2year - 30year
One of these is not like the others...



Treasury bonds never bought into the illusion...always focused on the ever-widening output gap aka. unemployment...



"No one saw that coming"

Ben Bernanke and Janet Yellen at Woodstock
Paul Krugman and Larry Summers are doing bong hits with Bernie Madoff in the background...