Rydex Bull/Bear Asset allocation: blue pill self-dispenser...
Long-time perma-bear David Rosenberg just went after ZeroHedge and all other "perma-bears" for our cult-like addiction to pessimism...
ZH: January 4, 2014
David Rosenberg: "This is what passes for analysis?
"There are segments of the perma-bear community that live on the lunatic fringe" [I'll take that as a compliment]
"There are segments of the perma-bear community that live on the lunatic fringe" [I'll take that as a compliment]
"I'm taking the blue pill now too. Best bonus ever"
Like Hendry and other weak-minded fools who capitulated way late in the game, Rosenberg now has to rationalize his new-found optimism. Having all taken the "blue pill", they must now rally around their admitted delusion and defend it at all costs.
Rosenberg, was a confessed bear from 2000 all the way to 2012 (really much longer than that), because apparently borrowing and printing money to oblivion only makes sense when you do it long enough. Or, when you work on Wall Street and your employer says get with the program or lose your job. So it was either capitulate or go work at McDonald's, and we know which choice was taken...
"A modern Potemkin could be this: A stock market that is up around 14% over the past year when corporate earnings are only up 4%."
"While there has been no escape velocity within the real economy, that 87% correlation with the central bank balance sheet (not to mention negative real short-term interest rates) has been responsible for up to 500 rally points in the S&P 500 this cycle."
What? Do you call this analysis? For over four years straight, the market rally was a 'Potemkin Village', but then magically behind the scenes, a real village was constructed? Holy fuck.
And why did you just state that you were a perma-bear from 2000-2012, when this article above was published in March, 2013? Did you change your mind before you wrote this article?
"A modern Potemkin could be this: A stock market that is up around 14% over the past year when corporate earnings are only up 4%."
"While there has been no escape velocity within the real economy, that 87% correlation with the central bank balance sheet (not to mention negative real short-term interest rates) has been responsible for up to 500 rally points in the S&P 500 this cycle."
What? Do you call this analysis? For over four years straight, the market rally was a 'Potemkin Village', but then magically behind the scenes, a real village was constructed? Holy fuck.
And why did you just state that you were a perma-bear from 2000-2012, when this article above was published in March, 2013? Did you change your mind before you wrote this article?
"Perma-bears" have a cult-like addiction to honesty
We can't take any more of these fucking bubbles and the psychopaths who rationalize them. This is it, the last one. Rosenberg & Company's "analysis" is based solely on greed, fantasy, corruption, wishful thinking, delusion and extrapolation of the impossible into the indefinite future.
The Idiocracy doesn't know about conflict of interest yet, so that lesson comes next.
