Reality "Skepticism": Swan Song of the Idiocracy

"As a dedicated reality skeptic, I ignored all of the warning signs, right to the very end."

The real story, totally ignored in this massively fucked up era, is that the deep fried Idiocracy has no clue they are being liquidated en masse in broad daylight. In what can only be described as human history's largest game of musical chairs. 

"At the end, the corporations laid off everyone. For maximum profit and zero revenue. Text book corporate finance."

History's largest society of retards without any comparison. Laid themselves off.

"No blind men saw that coming..."

Dow at all time highs, labor participation rate at Brady Bunch levels. I smell deep fried zombie.

Greed as a national ideology, was just an experiment. Someone had to prove it wouldn't work.

RISK OFF: Financial Deathstar 2.0 Has Been Activated

The sordid story of Globalization is to ignore the people doing the heavy lifting, who are under the greatest duress to keep this shit show running. The four-year Cirque du Greece was in town, so few noticed that Walmart-land which is 162x Greece in population, was imploding. Chinese investors just lost 10x Greek GDP in 2 weeks...

The Shanghai Composite is now down 30% in two weeks (which requires a 43% gain from this level to recover the losses). Meaning game fucking over. 

This week, Greece, a country of 11 million people, inadvertently monkey-hammered global markets and forced Etraders to go "RISK OFF" for the first time since last October. 

MW June 30, 2015

Market Sends A Message: Cash Is King

"The damage to the Nasdaq in four days of losses undoes six weeks of gains...At this stage, there are very few shares setting up in the basing patterns that most often lead to upward revaluation."

In the meantime - while everyone was focused on a country with a population smaller than Cairo, another country, home to 1.3 billion people and the world's second largest economy was melting down...

BBG: July 2, 2015 

Chinese stocks just lost $2.36 trillion. 

By forcing Etraders to go "RISK OFF", the Greek Ponzi circus inadvertently activated Financial Deathstar 2.0...

Below are the current dispositions of key global stock markets...

Greece Is Beyond Ponzi (aka. Bankrupt)

 ZH: July 2, 2015
This just in...IMF: 
Greece needs to write-off $50 billion, so they can borrow another $60 billion

You literally can't make this shit up. Even Bernie Madoff never thought of forcing his investors to take a writeoff while asking for more money. Only the IMF would put out something this fucking stupid, called the "Debt Sustainability Analysis", no less.

The real takeaway is that the IMF is finally admitting that the terms of the current Greek bailout won't be adequate at this late juncture. Unfortunately the rest of Europe is not onboard with any debt writedowns so now there is no agreement on the terms of the IMF's latest Bernie Madoff proposal. The IMF is basically telling the Greek people to vote 'No' on Sunday, to the current "deal".

The Guardian:
"International lender [IMF] issues strong message to Europe by warning that Athens’ debts are unsustainable and it needs 20-year grace period on debt repayments"

"Fund officials said they would not be prepared to put a proposal for a third Greek bailout package to the Washington-based organisation’s board unless it included both a commitment to economic reform and debt relief [writedowns]"

Zerohedge:
"What happens next? All the other peripheral nations - Spain, Italy, Portugal, show up at the IMF's door and ask if their debt, is also now deemed unsustainable."


The IMF should be in jail with Bernie Madoff

A Tree, A Rope, And A Horse, And Six Years

...Elliot Wave Theory in a nutshell. 

Today's sage-like reality skeptics can look forward to being monkey-hammered into fucking oblivion by their own denial.  

Given enough time, human beings will believe literally ANYTHING, as long as it bears no resemblance to reality. Reality is the gift we were given, but it wasn't good enough so we threw it in the landfill along with everything else. Fortunately, religion replaced reality, so everyone gets to pick their own version of what won't happen.

Every month, we get to endure the denialists' paradise that is the employment report, with boy-man Steve Liesman (perfect name) telling us how record numbers of 25 year-olds are opting for early retirement:

And here it is, hot off the press...
ZH: July 2, 2015: 
The devastation of the U.S. labor force continues. Participation rate at 1977 levels. Full time jobs still lower than 2007, despite 19 million added to the population.

Part-time employment level:

"Which stocks should I buy in a collapsing economy?"

For Prechter to be wrong, then every dumbfuck you ever met would be right for doubling down on the collapsing status quo after 2008. The Idiocracy didn't get away with anything these past six years, they just dug their own graves deeper than imaginably possible, with friendly assistance from glassy-eyed psychopaths of course.

"It was a bad time to be worshipping at the altar of Walmart"...
Consumption sentimentality versus reality aka. what used to be the economy:

In other words, human beings are an ungrateful species, in a constant state of denial, who need to be tattooed with an enduring lesson, and it just so happens that an inconvenient monkey-hammering is on the way...

Houston, We Have A Fucking Problem...Oil Primed For Collapse

This just in:

In a high fixed cost industry, marginal producers will continue to produce even at an overall loss.

If only to forestall bankruptcy for a few, more, months...

Now that every storage tank in the Western hemisphere has been filled, prices can find the true floor unsupported by the futures market...

U.S. daily oil production ('000 bbl/day) (red) 

w/U.S. oil price

Oil stocks with oil: Ratio lower pane

An Inconvenient Monkey-Hammering

This society enjoys being ass raped by the exact same psychopaths over and over again. 

Suffice to say that Bernie Madoff would be extremely proud of how Ponzi World is ending...

"Spectacular rallies await those who buy Greece NOW!!!"
Hindenburg Omen x 6:

Hindenburg Omen Visualized:
A multi-year overbought market at all time highs, with the vast majority of stocks already tanking. We'll never see this again, in our lifetimes. For obvious reason.

NYSE New Highs 15 week average:

It was a bad day for Emerging Markets and Oil, as expected, the locus of totally ignored risk...

EM Credit:

"If you don't throw all of your money away, you'll never retire"

In Greed We Trust.

A Bounce Here And Then Goodbye To All That...

Shorts are covering on the latest "Greece is fixed" charade. It's all reminiscent of the TARP vote post-Lehman. On the Monday (Sept. 29, 2008), the TARP vote failed the House, stocks plunged. But then they rallied mid-week. Upon successful vote on Friday (Oct. 3), the market collapsed. The difference is that this time the market is at an all time high.

The denialism is what makes violent collapse unavoidable. It's the Idiocracy's "black swan" event, known as the 'unforeseeable collapse in broad daylight'.

Ultra-bull Jim Cramer, last night:
"I am not impressed by last week's crop of IPOs…These are not high-quality companies, and it worries me that we're seeing so many of them come public at the same time," Cramer added...These are vicious IPOs" [but the rest of the market looks good...]

CNBC: July 1, 2015
"Small cap [garbage IPOs] should continue to outperform"
"I think this is a theme that we're going to see continue through the rest of the year," the technician said. "We continue to see outperformance by small over big and growth over value."

The Russell Small Cap Index (black) with Percent of NYSE stocks above 200 day moving average

As long as Etraders playing 'vicious IPOs' can keep this market aloft, while Resources, Transports, Energy, and Retail are all tanking, this will all work out fine...

Denialism: Delightful Self-Obliteration

A denialist is someone who has all of the facts and data but who prefers not to accept their implications.

It's a lethal contagious disease that afflicts mindless zombies and the mentally infirm.

It's the problem that fixes itself.

"No one saw that coming..."

Faking It Is A Full Time Job Now

It's all they have left at the end. Even the dog and pony show for infants and the infirm, is fraying around the riots.

Burned out from eating their own sugar coated bullshit.

Financing speculation at the expense of economic activity, is the last desperate gambit for societies on the verge of violent implosion. It's everyone throwing their life savings away at the grand casino while pretending to be rich. The money is already gone. The casino doesn't give refunds.

Can't wait.

2 + 2 = 5. Question Nothing.

Cognitive Dissonance: When the things people are told on Fauxtard News don't add up to what they are seeing out their window.

Things are so fucking good right now, with the Dow near all time highs and consumption sentiment at an 11 year high, that 1 in 3 Americans wants to leave...

Sugar coated bullshit is detrimental to one's long term survival.

"Vote for me. I'll fix everything..."