The economy
I just read a great blog by Russ Winter. This is why I'm not believing the Dow Jones or anything this government is telling me about this economy.
Rebuttal of GaveKal's Bully "Wealth & Platform Theory"
A quote:
"The values of "financial assets" are a bit easier to ascertain but are also exaggerated and transitory. Even normal financial markets correct, and this is not a normal market, but one based on tiny credit spreads and giddy assumptions about solvency and wealth. And a big chunk of the value held in various financial securities are encumbered on the ability of the Bottom 80% to maintain consumer spending AND pay their bills AND debts to wealthy Bullies, all while being job outsourced to overseas platform companies so that corporate profits can stay inflated. This can best be characterized as "negative trickle up theory" which would be transmitted directly to marking down the wealthy's large holdings of inflated securities.
How about the servicing on the debt that the elite holds? One almost always sees this expressed as debt relative to disposable personal income, and the numbers look scary enough. Of course as I've pointed out repeatedly, this would be far worse if it wasn't skewed by including personal income from the Top 10%."
Please read the whole article. If you don't feel like you have the time, scroll to the bottom and have a look at his bullet points.
this is why I say that things are going crash and crash soon. Yeah, the sky will fall.
Rebuttal of GaveKal's Bully "Wealth & Platform Theory"
A quote:
"The values of "financial assets" are a bit easier to ascertain but are also exaggerated and transitory. Even normal financial markets correct, and this is not a normal market, but one based on tiny credit spreads and giddy assumptions about solvency and wealth. And a big chunk of the value held in various financial securities are encumbered on the ability of the Bottom 80% to maintain consumer spending AND pay their bills AND debts to wealthy Bullies, all while being job outsourced to overseas platform companies so that corporate profits can stay inflated. This can best be characterized as "negative trickle up theory" which would be transmitted directly to marking down the wealthy's large holdings of inflated securities.
How about the servicing on the debt that the elite holds? One almost always sees this expressed as debt relative to disposable personal income, and the numbers look scary enough. Of course as I've pointed out repeatedly, this would be far worse if it wasn't skewed by including personal income from the Top 10%."
Please read the whole article. If you don't feel like you have the time, scroll to the bottom and have a look at his bullet points.
this is why I say that things are going crash and crash soon. Yeah, the sky will fall.