We think Credit Crisis II or Credit Crisis 2.0 has a much nicer ring to it than "W recovery" or some other charting nonsense. (We're partial to the "M recovery"). Whatever we call it, we may get the chance to revisit old themes. Everything new is old and suchlike. Or so says Reuters:
The global financial crisis may morph into a second, equally virulent phase where borrowing costs rise again, hobbling an embryonic economic recovery, debilitating cash-strapped banks, and punishing investors all over again.Early warnings signs of this scenario include surging government bond yields, a slumping U.S. dollar, and the fading of the bear market rally in U.S. stocks.
The reality is that the United States has quite a bit of housecleaning still to do. High beta stock rallies spur "green shoots" talk, but trad-weeds will grow anywhere for a time, but have no real staying power.
Rising U.S. bond yields may spark Credit Crisis II [Reuters]
Posted by Anal_yst , May 29, 2009 5:19PM
HERESY!
The worst is behind us, everyone knows that, your supporting "evidence" to the contrary is ERRONEOUS!
/sarcsam
(weak, I know, but thats the best you're gonna get outa me 530 on a friday)
Posted by guest , May 29, 2009 5:29PM
I like...
"Nothing is Fucked Too"
Posted by guest , May 29, 2009 5:30PM
Good analysis work, EP
Now rest that pretty little head over the weekend
Posted by guest , May 29, 2009 5:41PM
I wear Wrangler Jeans because Bret Favre wears Wrangler Jeans.
There I said it.
Posted by guest , May 29, 2009 6:17PM
I predict EP will resume the Obama Portfolio watch any time now.
Posted by guest , May 29, 2009 6:21PM
I predict that Porker Stansberry will go on a diet soon because of all the comments about him in cyberspace.
Posted by guest , May 29, 2009 6:28PM
Let's see it.. where's the obama portfolio!!! totally killing it!
Posted by guest , May 29, 2009 6:30PM
Did you shortards enjoy your prison ass raping this week?
Stay short fuckos, and double down - in the meantime, thanks for the bucks dumbfucks. I got me some consumering to do with your money. Mebbe a porsche?
Stay short fuctards. Keep it real (easy to make money off you and your retarded "experts" like that wrassler ladyboy)
Posted by guest , May 29, 2009 9:34PM
@5 ... EP should wait until hyperinflation wipes out the Obama portfolios gains. Shouldn't be too long now.
Posted by guest , May 29, 2009 10:31PM
@9
I don't think EP could hold this job for so long. And what's hyperinflation in your book? I don't see it, the credit markets don't see it in spite of the wingnut noise machine. We may see 4.6% rate in 2014 and that's far from hyperinflation in my book. And what would become the new reserve currency replacing the dollar for this hyperinflation to happen? Place your bets. I'll bet against you.
Posted by guest , May 30, 2009 7:29AM
C’mon, the "credit crisis" was engineered by timocratic powers seeking to ensure a plutocracy.
Not necessarily conceived by a single group (like Bildeberg or Skull n’ Bones) or a single nation, nor clandestinely orchestrated by a particular agency or agencies (like MI6 or the NSA), the credit crisis is just another “brick” in the wall to keep the peasants outside the castle. I mean honestly, did you deadbeats really think that “all of a sudden” you were so prosperous and trust worthy that you could access unlimited lines of credit to fulfill your voracious appetite for the petty affectations and picayunes of middle class consumption; like SUVs, extravagant vacations, new kitchens, and designer labels…all trinkets indicating your desperate aspiration to transcend class and distance yourselves from your meager embarrassing beginings? Did you really believe that it was that easy to pick winners in the stock market to generate wealth? That the dot-com bubble and the housing bubble were really manna from heaven; God sent lottery tickets for all enabling the masses to establish a foothold on the mantle of success and independence?
Haha! Think again, you fucktwats. You were all suckered into loading up on debt and lulled for a decade into complacency to believe that prices always rise. This was to ensure that you would never question another marginal Dollar borrowed or question the true life cost of leveraged consumption financing. And now the shit is neck deep. You idiots, whatever bull market rally you are seeing is nothing more than a sideshow to distract you from the fact that you are being controlled. It’s that enduring prospect of hope that makes you all so pathetic. Face it, if there is any semblance that you peasants are going to try and cross the drawbridge the portcullis will drop again and you will be left outside the moat, wallowing in shit and pestilence, getting gang and ass raped by the hoards of vandals marauding the countryside. This market rally is nothing more than a head fake, based on vapor and false propaganda disseminated by the media.
Fools. Like sheep on a conveyor belt being whisked in extreme comfort past soothing murals depicting Mediterranean scenes just before you hit the rotating knives…..
Posted by guest , May 30, 2009 8:41AM
Quite a bit of house cleaning left to do ?
You haven't even started yet! So far you've just gone and shit in every room and smeared it over the walls and ceilings.
Your greed and wanton corruption are going to destroy the US. Hope you are proud.
Posted by guest , May 30, 2009 8:51AM
@11 - Depressing isn't it. Look on the bright side though at least one of those peasants may get round to shutting your stinking whole permanently - when they have nothing left to loose.
Posted by guest , May 30, 2009 11:12AM
@13 Exactly! This is the point I wanted to make by writing in the first person. Makes you angry huh? Then why fall prey to the clear manipulation? Why chase the carrot of prosperity dangled on a stick only to be enslaved in a mediocre job paying you just enough to think you are successful, but never enough to be independent and free?
"Banks are raising base salaries to be competitive and retain key employees..." blah, blah, blah. Yeah, this is just bullshit to make you think you are being taken care of. There's no upside any more. And worse any "bonus" they pay you will be in the form of differed toilet paper that will be further devalued by the rampant inflation being engineered through seiniorage. You’ll be duped into holding that seat of yours because you think you have “vested upside” on the table. In reality, your mobility will have been shackled and every ounce of entrepreneurial creativity will be sucked from your lifeless soul through a straw.
Imagine how fucked the system would become if everyone completely eschewed credit? The primary tool of plutocratic control would be rendered useless. Think of it this way…the mob never uses credit, it only uses cash, and in Italy alone the mob generates a conservative estimate of $167Bn a year (that is known) http://www.bloomberg.com/apps/news?pid=20601085&sid=aJtXWLHPau0Y&refer=europe, the Country’s #1 industry. Hell, these guys are so smart as to hold “reserves” in EUR rather than USD because USD 1Mm notional is lighter and easier to transport using EUR500 bills than USD100 bills.
The point of my rant is this….why get duped by the ridiculous technical phenomena of what the market is doing? The fundamentals don’t support anything that’s happening. And this is not a call to become some commy pinko bastard either, socialism is pure evil and exerts worse control than the forced social cohesion and unanimity exacted through the tool of credit. No this is a call to economic arms in the spirit of the true American revolutionist tradition. Entrepreneurialism. Don’t borrow money if it cant be invested for a sure profit. Don’t work for an employer in mindless complacency if you have any entrepreneurial talent. Break out. Start your own fund. Trade your own account. Save money. Buy hard assets that wont get devalued through inflation. Do this collectively and we are out of this shit in 6 months. Keep up the bullshit and we are ensured perpetual peasantry for sure.
Man I need some f'n coffe. Its too early to be ranting....
Posted by guest , May 30, 2009 11:45AM
A"heads up" for those men who may be regular Home Depot customers.
Over the last month I became a victim of a clever scam while out shopping.
Simply going out to get supplies has turned out to be quite traumatic. Don't be naive enough to think it couldn't happen to you or your friends.
Here's how the scam works:
Two seriously good-looking 20-21 year-old girls come over to your car as you are packing your shopping into the trunk. They both start wiping your windshield with a rag and Windex, with their breasts almost falling out of their skimpy T-shirts. It is impossible not to look.
When you thank them and offer them a tip, they say "No" and instead ask you for a ride to another Home Depot. You agree and they get in the backseat. On the way, they start undressing. Then one of them climbs over into the front seat and starts crawling all over you,
while the other one steals your wallet.
I had my wallet stolen March 4th, 9th,10th, twice on the 15th,17th, 20th, & 24th. Also April 1st, 4th, twice on the 8th,16th, 23rd, 26th, 30th, three times last Saturday and very likely again this upcoming weekend.
So tell your friends to be careful.
P.S. Walmart has wallets on sale 2.99 each
Posted by guest , May 30, 2009 12:15PM
OK, this is getting weirder and weirder.
This is to you, @15:
Det. James 'Jimmy' McNulty: I got to ask you. If every time Snotboogie would grab the money and run away, why'd you even let him in the game?
Witness: What?
Det. James 'Jimmy' McNulty: If Snotboogie always stole the money, why'd you let him play?
Witness: You got to, this is America, man.
Posted by guest , May 30, 2009 9:03PM
fuck you bitches...
@11....I think you have it all figured out. now the question is who engineered this crisis? could it be the Rothschilds?
Posted by guest , May 30, 2009 9:59PM
@14.. or leave the country!@
Posted by guest , May 31, 2009 2:07PM
Given the sorry forcast on the financial situation I think there are only a few things we can do...
Close GITMO, make everone buy a Prius, Make everyone see at least one Tylor Perry movie, increase taxes, spend it it on trains, bees, fruit flys, blueberry breeding and some pig semin. Oh and 10M airport upgrade for
Then we all get in Obama's pimped out POTUS G5 and have a $300,000 NYC date paid for buy US.
I dont get it, if he wanted pictures of AF1 in NYC. Why didn t he just take the plane here for his date and film it then. Rather then fly it empty and then fly here again. Its this type of bullshit that make sme realize what a total asshole he is.
Posted by guest , May 31, 2009 9:46PM
@19
I'd love it when the freepers finally learn to spell.
Posted by guest , Jun 01, 2009 12:54AM
What the hell #11? You are *so* totally out of the Illumanati. I mean, I can understand how you felt slighted by being stuck on the Oscar-rigging subcommittee while all the cool kids got to play with the weather machine or keep the martians under wraps, but this is just such bad form. Don't let us catch you around the SoHo House either!
Posted by Novice , Jun 01, 2009 2:08AM
In a post overflowing with nutjob commenters, 15 & 16 made it all worth it.
Posted by guest , Jun 01, 2009 10:51AM
Obama fund is killing it today! best trader in the house!