"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Saturday, July 19, 2014

The Emperor Has No Clothes

Hubris is at an all time high.  The people we all see on TV and read on the interwebs, regularly, are proclaiming the housing recovery, the consumer recovery, the market recovery, and the all around economic recovery.  These people are idiots.

(h/t @ScienceTrader)

Here's a list of articles I feel are important not only in a singular sense but also in a holistic one.  If you check the data, follow the links, and take the time required to understand where we stand today, you will have a much better knowledge bank to use when confronted by permabull lunacy.
Collection Of Material Highlighting Weakness In Global Finance In 2014 - Calling A Top
  1. May 21, 2014 - Debt Loads Ignored By Banks: How Long Can Momentum Continue?
  2. June 4, 2014 - Goldman Macro View Changes From 'Slowdown' To 'Expansion' In One Quarter
  3. June 5, 2014 - ECB Cuts Rates, Prepares To Contain Damage To Credit Markets
  4. June 6, 2014 - Fragmented Eurozone Recovery 
  5. June 11, 2014 - World Banks Cuts Global Growth Forecast; U.S. Down To 2.1% From 2.8%
  6. June 16, 2014 - Looking Ahead To Q2 Earnings As Q1 Earnings Wrap Up
  7. June 17, 2014 - The Fed Fuels Record M&A 
  8. June 18, 2014 - The Fed Has Affected Rational Market Performance 
  9. June 20, 2014 - Goldman Sachs: Extinction Of Bull Rally Will Not Be Impacted By Self-Destructive Complacency, Excess Leverage 
  10. June 26, 2014 - Goldman Sachs: Returns Driven By P/E Multiples, Not Earnings
  11. June 27, 2014 - Goldman Sachs On Abenomics: Businesses View Stimulus-Related Demand As Fleeting
  12. July 1, 2014 - Goldman 'Still Stuck' Waiting On A Expansion, In Latest GLI Note 
  13. July 2, 2014 - 3 Reasons The 'Recovery' Will Be Challenged Through 2015 
  14. July 9, 2014 - Federal Reserve To End QE In October; Goldman Says Dynamics Supporting Bond Rally To Unwind 
  15. July 17, 2014 - The Fed Report On Monetary Policy
  16. July 17, 2014 - Is The Current Economy Status Cause For Concern?
  17. July 19, 2014 - Cheap Credit Will Sink Us Again 
When the crash happens, remember that on July 19th this was here.
Posted by Paul Revere at 7/19/2014 09:45:00 PM