Plausible deniability is the opiate of the profoundly stoned masses. And Wall Street's secret sauce. And how you become chair-woman of the Federal Reserve...
“I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.”
"Excellent. You got the job. The last thing we need is someone taking the punch bowl away before the last muppets have been monetized"
If there is one obligatory mantra in bubbles it's that no one knows anything. This was Barry Ritholtz's assertion earlier this year. He used to be a smart guy until he started managing other people's money, now he's as dumb as a fucking post. By his own admission: "Repeat after me, I'm a dumb motherfucker..."
I couldn't agree more. Now this...
ZH; July 22, 2016
Who knew.
This quote rings a bell relative to my cyclical posts this week:
"the financial cycle is way ahead of the economic cycle"
When you say "ahead", you mean as in the financial cycle is over, and the economic cycle got outsourced to China, right?
No, of course not. The PhD/industry shill opinion:
"Nobody knows what's going to happen"
Just because the bubbles imploded the last two times with extreme dislocation, doesn't mean it will happen again.
I took that bet...
Schadenfreude: Enjoyment in watching serial greedy dumbfucks shit bricks and then say 'no one saw that coming'...
Schadenfreude: Enjoyment in watching serial greedy dumbfucks shit bricks and then say 'no one saw that coming'...
