Wednesday, February 15, 2017

Greed Is Gleefully Self-Destructing

Capital "won", now it can implode. There's nothing we can do to stop it. Greed gets what it wants...

Fuck Ayn Rand and the Anti-Christs who follow her. Reality is closing in for the kill...

The argument on the U.S. right for this lurching debacle is that the erstwhile "left" didn't stop the right from going ALL IN against the working class. Hence the rise of Trump, the false messiah. Armed with arguments like that, history will not be kind. More importantly, while intellectually void fucktards are advancing those arguments, what we are witnessing in Ponzi real-time is the self-implosion of global capital. The reason the apologists for greed don't see it coming, is because they are greedy. Go figure. 

We can at least thank them for that.  

Globalization represents the pyrrhic victory of capital over labour. Supply Side Ponzinomics taken to its logical conclusion - supply without demand. What 0% interest rate policy represents is a 0% real return on capital due to a dearth of global investment opportunity. Any yield sought above 0% is merely a momentum pump and dump from asset class to asset class, each time annihilating more capital. Leaving nowhere left to hide.

The reach for junk with mutual fund cash balances:

S&P Earnings yield with global GDP growth:

USDJPY global carry

Don't worry, this will only hurt a lot:

Federal Housing Administration mortgage delinquencies jumped in the fourth quarter for the first time since 2006, the Mortgage Bankers Association reported Wednesday. The FHA insures low down-payment loans and is a favorite among first-time homebuyers.