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Tuesday, March 30, 2021

The bubble pops

It looks like the post-2008 can-kicking is rapidly coming to an end:

Global banks bracing for losses amid US hedge fund collapse

World banks may lose over $6 billion from the downfall of the US investment firm Archegos Capital, sources told Reuters. Regulators are closely monitoring the situation as panic spreads about the possible scale of the fallout.

The sudden liquidation of the New York-based billionaire Bill Hwang’s Archegos Capital Management ignited a fire sale of more than $20 billion in assets that has left some of the world’s biggest investment banks bearing billions of dollars of losses.

According to billionaire investor Mike Novogratz, the collapse of Hwang’s Archegos fund could turn out to be “the most spectacular personal loss of wealth in history.”

The problems started last week when a disappointing stock sale by media giant ViacomCBS triggered devastating bank margin calls for Archegos, three people familiar with the matter said. Shares in ViacomCBS plummeted 23% last Wednesday after the media company sold shares at a price that diluted its value. The shares continued to decline, setting off alarm bells at Archegos’ prime brokers and prompting them to offload stock in all of Archegos’ investments.

According to the sources, Goldman Sachs and Morgan Stanley were quick to offload shares on Friday, forestalling a material financial impact.

Meanwhile, investment banks Nomura and Credit Suisse warned investors that they were facing huge losses from their exposure to Archegos. Shares in Japan’s Nomura plunged 16% and Credit Suisse dropped 14% amid analyst speculations on how much money they could lose.

This time, it wasn't different. It never is. If the media sector is collapsing, watch for the Devil Mouse to be in particular trouble, in light of the underperformance of its assets almost across the board.

But don't worry. I'm sure Creepy Joe will be right on top of this, right? I mean, who better to skillfully navigate an economy through the treacherous shoals of a financial catastrophe than a shuffling, dementia-addled near-corpse who isn't sure who or where he is?

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78 Comments:

Blogger dienw March 30, 2021 10:27 AM  

If only there was a chosen people who actually were financial experts instead of the clowns we have.

Blogger Canadian Warlord March 30, 2021 10:31 AM  

Wasn't someone in another thread asking where BRICs went? Let's see if international money transfers stay on the "swift" backbone much longer or if the US currency is still used between countries. BRICs was planning to offer some kind of 'basket' alternative to the US dollar - the late great Robert Chapman (International Forecaster) used to focus on that. Maybe they offered it and it didn't take off?

It's not easy to parse information nowadays due to the deluge - but maybe we can get an idea of the health of an old dying system by keeping an eye on its emerging competitors. An example of this is watching for US belligerence in Central Asia, by monitoring the progress of the Shanghai Cooperation Organization (SCO). Everyone knows that Russia and China don't get along well and ultimately aren't going to be friends, which is why it's so fascinating to see concrete infrastructure spring up between them (and other players in the region) through the growth of the SCO.

Blogger GeronL March 30, 2021 10:33 AM  

Our economy is so leveraged that the fall of one of these firms could knock the whole thing down. Now I get why the Gamestop thing scared them so much.

Blogger Doom March 30, 2021 10:35 AM  

Just print more money fasterer. Duh.

Yea, I kept hearing this name. I did my best to ignore it. Thank you. Anywho...

At least consumer demand is sky high, this month! (What you can't do with helicopter money, I'm telling you.) Gah! On the good side, what can't continue won't. Oh, it'll hurt. Pain comes with benefits, if only teaching humility. Amen.

Blogger Scientific Manager March 30, 2021 10:39 AM  

As this bubble pops, I'm sure Slow Joe will call on Corn Pop - the master of all things popping.

Blogger dienw March 30, 2021 10:45 AM  

Vox, a Zero Hedge piece underscores your posting and my sarcasm: the people pretending to run the world’s financial affairs believe in magic.

Blogger pyrrhus March 30, 2021 10:47 AM  

In other developments, SC confirms that Hillary is exempt from all laws and court precedents of the FUSA...https://www.judicialwatch.org/press-releases/hrc-scotus-refusal/

Blogger Student in Blue March 30, 2021 10:49 AM  

Is it odd to be joyful of this event?

This financial reckoning has been long-coming.

Blogger CJ March 30, 2021 10:52 AM  

"...a disappointing stock sale by media giant ViacomCBS triggered devastating bank margin calls ..."

ViacomCBS owns Paramount Pictures, MTV, Nickelodeon, BET, Comedy Central, Showtime, Pluto streaming TV and Simon & Schuster the book publisher.It's a classic media conglomerate combining movies, television, "news", and financial interests in China.

It's hurtful to think they're not worth as many billions as they thought they were.

Blogger Azure Amaranthine March 30, 2021 10:54 AM  

"If the media sector is collapsing, watch for the Devil Mouse to be in particular trouble, in light of the underperformance of its assets almost across the board."

Now we get to see who is "too big to fail" (in different terms) in that sector. Will the real Mini-True please stand up?

Blogger Teleport me off this rock March 30, 2021 10:56 AM  

If Disney gets banjaxed, that means ESPN, the NFL, the NBA, and NCAA football and basketball go down the pan too.


BRICs was planning to offer some kind of 'basket' alternative to the US dollar

Do you trust the currency of any of the constituents of the "BRIC"? Why would anyone trust them in concert?

Blogger OneWingedShark March 30, 2021 10:58 AM  

GeronL wrote:Our economy is so leveraged that the fall of one of these firms could knock the whole thing down. Now I get why the Gamestop thing scared them so much.
Exactly.
The system is so fraudulently gamed that a good sneeze would topple it down.
As always, look to anything but truth, honesty, and justice to be pushed as a solution.

Blogger TheMaleRei March 30, 2021 11:00 AM  

I smell a combination of - bail-outs and bail-ins, the first to further devalue the currency, the second to impoverish those who are not the connected apparatchik class, the broad middle and some UMC.

Blogger Desdichado March 30, 2021 11:03 AM  

Good to see a good old boy American like "Bill" Hwang making "billions."

Blogger Beto March 30, 2021 11:04 AM  

Shut it down.

Blogger Pytor March 30, 2021 11:08 AM  

Could it be that the bankers are phasing out of "manufacturing consent" control system and replacing it with social credit score? Thus, they don't want to waste money propping up media giants that can't deliver anymore.

Blogger RadixMalorum March 30, 2021 11:09 AM  

dienw wrote:If only there was a chosen people who actually were financial experts instead of the clowns we have.

They're financial experts. The problem is their loyalties lie with their own wallets and ideological beliefs over the wellbeing of their host country. (((Nomads))) are not inclined to have long term planning. They are inclined to exploit, extract, and move onto greener pastures when the land is spent. This is why (((certain people))) have always been a destabilizing and parasitical force on every civilization they have ever infiltrated.

Blogger Azimus March 30, 2021 11:11 AM  

VD:
This time, it wasn't different. It never is.


The only thing that different is each time a bigger and bigger asset/institution is committed to keeping the corrupt system afloat - last time it was the Federal Reserve. Is there anything bigger that they can lash this disintegrating economy to, that can buy it another few years? I hope not. Its time for some corrupt institutions to take their medicine, 401k be damned. As long as my children have food in their bellies, a warm and dry place to sleep and light by which to read, the whole evil edifice can come crashing down and whatever gets swept out to sea in the cleansing tsunami is fine with me.

Blogger Damelon Brinn March 30, 2021 11:14 AM  

Now I get why the Gamestop thing scared them so much.

Seems like no one's talking about GME anymore, but it's still happening. It hasn't gone to the moon, and maybe it never will, but they haven't been able to kill it either. Every time they knock the price down it pushes right back up in the 200 range. It's hard to say how much it's costing the hedges in interest on their shorts, because it's not like they're going to tell us, but it's interesting to watch. The bigger picture, that a significant portion of the "investor class" now hates the financial class and wants to hurt it more than it wants to make a few bucks, so it can't be counted on to perform "rationally" according to the experts, is great to see.

Blogger Unknown March 30, 2021 11:15 AM  

Dont worry. This is all Trumps fault.

Blogger Doom March 30, 2021 11:28 AM  

OneWingedShark wrote:GeronL wrote:Our economy is so leveraged that the fall of one of these firms could knock the whole thing down. Now I get why the Gamestop thing scared them so much.

Exactly.

The system is so fraudulently gamed that a good sneeze would topple it down.

As always, look to anything but truth, honesty, and justice to be pushed as a solution.


The problem, as with BRIC, is that the options are worse. No one wants to pull the trigger on the golden goose, even if it has leprosy. It's... still the only producer, if a zombie. Even if it only produces debt, it's debt most still believe in (if only through sheer willful blindness).

Desdichado wrote:Good to see a good old boy American like "Bill" Hwang making "billions."

Yes, I had to laugh (sort of) at that too. Uhm, of course, that is past tense. Like much Chinese, it is fraudulent. Wait until they do an actual audit of all that "gold" and "silver" or else being held against debt. What of it is even real is so leveraged no creditor would even get a penny on the dollar. Their hedges are as solid as their empty cities. Cheers!

Blogger APL March 30, 2021 11:34 AM  

"New York-based billionaire Bill Hwang’s Archegos Capital Management"

Bill Hwang turns out to be just another looter, just not one of (((those))) looters.

Blogger Unknown March 30, 2021 11:35 AM  

How dare you sir?
As a very special boomer who has ignored your ruthless rudeness for all this time regarding the most special of the g-g-generations, this time I had it with your hate and non-sense sir.

Here is proof that PRESIDENT Biden is fully capable and in control to navigate these hard times:

https://tv.gab.com/channel/polster/view/your-old-men-will-meme-memes-606340d15f87c2005823228b

Blogger dienw March 30, 2021 11:51 AM  

@17
I admittedly was using poorly constructed sarcasm; however, you are correct, there is a criminal (((tribe))) of "financial experts".

Blogger Katusov March 30, 2021 11:52 AM  

I had a suspicion this was coming. We are fixing up my late mothers house for sale in April. She always did get the last laugh.

Blogger Crew March 30, 2021 11:56 AM  

I mean, who better to skillfully navigate an economy through the treacherous shoals of a financial catastrophe than a shuffling, dementia-addled near-corpse who isn't sure who or where he is?

Wait. Are you a necrophobe?

Blogger wahr01 March 30, 2021 12:03 PM  

brrr.money never seems to get old. It's the evergreen meme.

Blogger MichaelJMaier March 30, 2021 12:20 PM  

A certain song comes to mind:
https://www.youtube.com/watch?v=yge311sFhC8

All this because people lie about the value of money. Which goes back to the Biblical rules on weights and measures.... You'd think (((they'd))) know better but those noses block their sight.

Blogger Bezzle March 30, 2021 12:24 PM  

"World banks may lose over $6 billion from the downfall of the US investment firm Archegos Capital, sources told Reuters."

On a global scale of what is required to move markets, $6B is belly-button lint.

Stories like this are explanations given to the little people as to why everything "accidentally" fell apart in a well-coordinated Keynesian "reset" depression-cycle.


@3. GeronL March 30, 2021 10:33 AM
Our economy is so leveraged that the fall of one of these firms could knock the whole thing down. Now I get why the Gamestop thing scared them so much.

And here's one of those little people now. He believes things he reads on the internet. I would how many shares of a $4 company we can hoodwink him into paying $200 apiece for?


@6. dienw March 30, 2021 10:45 AM
Vox, a Zero Hedge piece underscores your posting and my sarcasm: the people pretending to run the world’s financial affairs believe in magic.

No they don't; they believe in the art of the con-job, and part of that con-job is convincing you that they're stupid as piles of cabal money are laundered under a proliferation of handy market-cause excuses.

E.g., Warren Buffett wasn't a stupid old man who lost gobs of money on airline stocks last year during the Covid crash. He held those stocks because he's a cabal front-man sloshing the vigorish. He "loses" as the face, while the behind-the-scenes machinery harvest bales of put-options.


@12. OneWingedShark March 30, 2021 10:58 AM
Exactly. The system is so fraudulently gamed that a good sneeze would topple it down.

The whole point of fraud is to leave you stuck hodling the bag.

Blogger Ingemar March 30, 2021 12:32 PM  

Getting some Revelation 18:11 (or 18:15) vibes here.

Blogger Crush Limbraw March 30, 2021 12:54 PM  

4 years ago, Gary North wrote this: "There is a famous phrase in American politics: "the consent of the governed." It is an important phrase. It is the essence of political legitimacy." - https://crushlimbraw.blogspot.com/2017/06/the-publics-revocation-of-legitimacy-by.html?m=0 - the essence of his article is that when the checks stop coming, consent will be removed.

Blogger FrankNorman March 30, 2021 12:56 PM  

I offer the following speculation: They intended the crash to happen during Trump's term in office. Either late in his first term, or early in his second.
For the obvious reason: so that it would reflect badly on him. They did the same to poor old George W Bush.
Remember how he got blamed for the subprime mortgage shares thing, when it had been a ticking bomb since Carter?

But obviously their left hand doesn't know what the right hand is doing, and now it's all going to pieces on their side's watch.

Blogger Some Guy March 30, 2021 1:03 PM  

Vox, does this look like rapid inflation followed by deflation or just straight collapse? Asking because I know they want that Great Reset and this is looking too perfectly timed.

Blogger Doktor Jeep March 30, 2021 1:15 PM  

The people might know what's going on, or maybe that subset with more than two brain cells to rub together. Last week one of my coworkers told me that whilst at the bank to move money towards an early mortgage payment, the bank guy described that there is a physical money shortage as there has been roughly 80k a day in cash withdrawals.
This is only hearsay from my observation point.

Now at what point can 75 million pissed off voters give one final push to the system via a bank run? Is it teetering yet?
My Sorathic side is asking.

Blogger CopperMaran March 30, 2021 1:22 PM  

I guess I'll just keep working. Retirement is overrated.

Blogger Damelon Brinn March 30, 2021 1:24 PM  

Why does anyone believe that *any* hedge fund or investment bank actually holds the wealth it claims to hold?

Blogger Mathias March 30, 2021 1:31 PM  

@Bezzle,

Magic, from the word "Magi", meaning "elder", or "wise one". What do you think magic IS, exactly? Ancient elderly pulling a fast one over the young, mostly. When you think of "magic" a con-job is the very first thing that should come to mind.

Blogger Laramie Hirsch March 30, 2021 1:45 PM  

I was very pleased to see Viacom in such a quandary. They completely deserve this for how they treated the Star Trek property. Now, vox, I know that you don’t care for the Star Trek franchise, but what has been done to it by bad robot and other parties is a microcosm of our problems. Like every other global Homo corporation, Viacom was tone deaf to the consequences of its convergence with SJW‘s. They simply could not except the advice: “go woke, get broke.“

I enjoy Doomcock’s perspective on this.

https://youtu.be/FKXdc6oYFWU

Blogger vinifera March 30, 2021 1:50 PM  

Honestly this goes beyond the media companies. This is reeling in all the hedge funds for the shit they've been doing the past few decades. In following the GME situation closely, the short ladder / ETF attacks are blatant and nefarious. Just wait until the same happens to Melvin Capital/ Citadel.

https://www.reddit.com/r/GME/comments/mg4o2q/nscc_filing_today_this_is_actually_insane/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

https://www.sec.gov/rules/sro/nscc/2021/34-91428.pdf

Blogger thethirdcoast March 30, 2021 2:01 PM  

Damelon Brinn wrote:Now I get why the Gamestop thing scared them so much.

Seems like no one's talking about GME anymore, but it's still happening.


There is big, anonymous, dark pool money on the other side of GME.

The r/WSB gang are just dupes that are currently useful to the system.

I had thought GME would be the op the system used to raise capital requirements for retail traders or shut them out completely, but so far I have been wrong on that call.

Blogger vinifera March 30, 2021 2:14 PM  

One other thing, Gamestop (GME) has an adjusted beta of -23,735.... staggering number I've never seen before.

https://preview.redd.it/vergti0wqxp61.png?width=2338&format=png&auto=webp&s=3c85548f3c704763405e3c7caddb67f5e3d2b52e

Blogger Jon March 30, 2021 2:18 PM  

so I'm guessing that once again the government will make a lot of asset grabbing moves for their friends that leaves the US and consequently the world much poorer

Blogger A.D. March 30, 2021 2:34 PM  

It's all just another bailout scheme by the billionaires and the fake-elected pretend-Congress. This latest scheme will succeed, as they all do.

And Dementia Joe and Affirmative-Action Kamala are not actually running the country........obviously.

Blogger Brett baker March 30, 2021 3:22 PM  

Gary Raffman was talking about Chinese borrowing tricks 10 years ago.

Blogger T.L. Ciottoli March 30, 2021 3:45 PM  

Crew wrote:Wait. Are you a necrophobe?

Current Year!!!

Blogger map March 30, 2021 3:49 PM  

What's missing from the analysis is what quietly went unnoticed last week: The laws that removed all bank reserve requirements expired. That means the Federal Reserve is back to mandating a 7% reserve requirement on all banks.

This means all of the available credit in the economy has shrunk by 7%.

What is interesting is how the gold price kept declining despite a massive stimulus package, indicating that the economy was not only absorbing the stimulus, the stimulus was not enough to get demand to meet supply. Now, with the reserve requirements in place, the credit available for investment has contracted in an economy already starved to credit. Lo and behold, the gold price is now rising.

This is why the interest on the 10-year note spiked higher. Achegos got hit because it probably can't tap into the credit markets like it did before.

Yet again, all investment information denies the involvement of the Fed.

Blogger Avalanche March 30, 2021 4:04 PM  

@19 " The bigger picture, that a significant portion of the "investor class" now hates the financial class and wants to hurt it more than it wants to make a few bucks"

Having entered the "physical silver" game, cause I was too late to get in on GME, I've been listening to everyone and everything in the field on YT. (Aspie trait!) Gestalt takeaway with a cynical laugh: all these older Boomers who are 'big' in the broker/seller/explainer tier are "explaining" how 'these redditors and other young folks are making SUCH a huge terrible mistake! They're all buying in and the stock itself cannot hold up! They believe they're going to make a mint, but they're not. Bad wrong choices on the part of these folks wanting to make money.'

I yell at the speaker that "you don't GET it!" They're not looking to make money, they're looking to KILL a hedge fund or three!" And the Boomers go on, with deep serious pontificating that 'these young folks are not only hurting themselves, they're hurting their parents, whose retirements are invested in these naked-shorting hedge funds. (Really?)

And I bark: "FEATURE, not a bug. These young screwed-over folks will be delighted to see the Boomers getting their come-uppance in their dotage! And, alas, most of the nice folks doing the interviewing merely nod and agree with the old Boomer who has no idea!

Blogger Avalanche March 30, 2021 4:06 PM  

@20 "This is all Trumps fault."

Better let him back in office so he can fix, eh?

Blogger SonyAD March 30, 2021 4:12 PM  

Banking needs to be abolished. All bank assets should be nationalised. All debt to banks cancelled. Re-nationalise the privilege of issuing the country's currency, with issuance to be controlled via referendum. No loans in foreign currencies allowed with a nation's borders, except by citizens who obtained the money they're loaning as payment for goods sold or services rendered abroad or to foreigners or tourists.

Then an international payment system based on Bitcoin needs to be implemented. As long as banking is allowed to exist, all other forms of evil can prosper and make headway.

Blogger Silly but True March 30, 2021 4:31 PM  

Ok, Boomers. Learn to code.

WTF does ViacomCBS even produce now? BET. Pedolodean. Paramount Network with Picard & Star Trek LGBlackscovery?

Stephen Colbert?

When was the last time “CBS” (Viacom/CBS/Paramount) produced _anything_ worth watching?

Suck it, losers. Go woke, go broke.

Blogger Akulkis March 30, 2021 4:49 PM  

>> Now I get why the Gamestop thing scared them so much.

WallStreetBets' Operation Gamestop bankrupted 1 of the 8 short-selling hedge fund by margin calls. If they can find another heavily shorted firm, maybe they can kill another two of these ghoulishly vampiric anti-investment business-destroying operations.

Blogger Dafo March 30, 2021 4:50 PM  

Arch-egos capital. How ironically named.

Blogger Hieroglyph March 30, 2021 5:09 PM  

These companies sell themselves as 'expert' risk managers. Then (allegedly) they get scammed by a guy who, frankly, probably wouldn't even be allowed in your average HK casino. In another place, someone argued that the economy actually collapsed late 2019, and Covid restrictions were put in place as a response, and then the money printer go brrr. Our host, and others BTL, are actual economists, clearly I am not, so apologies if this is retarded. I did find the theory interesting though.

So, perhaps this is the canary in the coalmine. Further nonsense ahead, sooner than we think. Consider me not shocked, nothing changed at all after 2008, and they never learn.

Blogger TastyCakes March 30, 2021 5:27 PM  

I admit to being an economic ignoramus. Aside from a mortgage, I am debt free (no credit cards, no car loans, no school loans, etc). I have a modest 401k, and decent savings. What does all this mean for the average Joe?

Blogger Akulkis March 30, 2021 6:26 PM  

>> Now at what point can 75 million pissed off voters give one final push to the system via a bank run?

Read your savings account contract. The bank can delay any withdrawal from a savings account by up to 30 days.

That's how they will defuse a bank run.

Blogger Seth S March 30, 2021 6:46 PM  

You know its bad when they tank the gold and silver price. The message is clear, there is no safe haven.

Blogger Ominous Cowherd March 30, 2021 6:48 PM  

TastyCakes wrote:Aside from a mortgage, I am debt free (no credit cards, no car loans, no school loans, etc). I have a modest 401k, and decent savings. What does all this mean for the average Joe?
Your financial assets will evaporate in part or maybe completely, but your one big liability - that mortgage - will not go away. As long as you can keep your job and keep making that mortgage payment, you'll be OK. It is a fixed-rate mortgage, right? Inflation will go up faster than your wages, so your standard of living is going to fall.

Avoid financial assets. Read The Alpha Strategy(PDF warning).

Blogger Nate March 30, 2021 7:26 PM  

its gonna take a lot more than archegos to go down. Look I love ya homie but you keep saying there isn't enough new lending to make up for the deflation... well... haha... jokes on you. helicopter money. They are already talking about another covid relief bill.

And of course no one is reporting it because officially there is no inflation in the US... but in reality... literally everything is more expensive. everything. building materials are insane. everything from pool chemicals, to food, to mulch, to housing prices to gas. everything is rapidly increasing in price.

It ain't because of deflation.

Blogger Nate March 30, 2021 7:53 PM  

some data to back up my price claims. 3 weeks ago brown pine mulch at my walmart was 9.99.

Its 34.99 now.

I just got it for 24.99 from a landscaping place but the only reason it was that cheap was because I got 150 bags.

Blogger James Dixon March 30, 2021 8:04 PM  

> ...triggered devastating bank margin calls for Archegos.

A very old story, repeated lots of times. Margin kills you if you bet wrong. But these folks are never satisfied with just risking their own money. They always have to go into debt too.

> Seems like no one's talking about GME anymore, but it's still happening. It hasn't gone to the moon...

A friend of mine made a nice profit when it went over $300 briefly recently. I'm not about to touch it at current prices. I did pick up a couple of shares of AMC though.

> Retirement is overrated.

No, it really isn't. Not if you work a standard wage slave job.

> What does all this mean for the average Joe?

Probably nothing. Unless several of the big banks run into problems it's nothing to worry about. If several of the big banks run into problems then all bets are off and Ominous Cowherd is correct. But see Nate's response.

> You know its bad when they tank the gold and silver price. The message is clear, there is no safe haven.

If you think the spot prices on gold and silver have any relationship to reality I have some prime Florida real estate I can sell you. Gold and silver are real money. Everything else is make believe.

Blogger John March 30, 2021 8:24 PM  

>The problems started last week when a disappointing stock sale by media giant ViacomCBS...

Is forcing interracial marriage and homosex into every TV show and commercial going to be the catalyst for economic meltdown?

Blogger Teleport me off this rock March 30, 2021 8:26 PM  

We shouldn't pretend that this time is different, nor should we believe they've learned nothing: the throwing of vast sums into the bottomless pit to try and fill it before collapse has started earlier than ever this time.


On a global scale of what is required to move markets, $6B is belly-button lint.

JPM has paid more than that in "fines" in recent years.


Now at what point can 75 million pissed off voters give one final push to the system via a bank run?

And when they say "Lo siento senor we no have no money", to whom are you going to appeal? What proof, incontrovertible proof, do you have that you ever had a penny in a bank? Keep in mind the recent "election" when answering.


literally everything is more expensive

They're also doubling the squeeze by shrinking the actual contents of many of the more expensive packaged items as well. Shadow Stats real inflation computations can barely keep up.

Blogger Gulo Gulo March 30, 2021 9:37 PM  

Im pretty involved in the northern New England real estate market. I'm noticing an interesting trend. Overnight a major spike in interest in medium size tracks of timberland. This would be parcels between 150-500 acres in size. Traditionally, this acreage size has always been a very staid market. Too small for institutional investors or those with a net worth exceeding 5 million.. yet too large/expensive for your avg. normie. These parcels are selling for full list price and being paid for with cash. All out of state buyers and all in the 1-3 million demographic. None are foreign..all caucasian, city dwellers. Not a traditional demographic that would be buying raw, wooded land on a whim. It tells me that an ill economic wind blows..these people know it..and are desperate to park large portions of their wealth in some tangible asset that they can see and touch. Even if its woods in the rural parts of northern New England.

Blogger Reader March 30, 2021 10:05 PM  

Nate wrote:3 weeks ago brown pine mulch at my walmart was 9.99.

Its 34.99 now.


I see that item at Walmart:
Timberline All Natural Brown Pine Bark Mulch, 2 Cubic Foot
Walmart # 556390642
$34.72

Exact same item at Lowe's with the exact same picture:
$2.98
Timberline 2-cu ft All Natural Pine Bark Mulch

That is so freaking weird.

Blogger teemac March 30, 2021 10:39 PM  

the bail in cometh. trudeau is already floating the idea here.
gonna be a rough ride.

Blogger Azure Amaranthine March 30, 2021 11:02 PM  

"Is forcing interracial marriage and homosex into every TV show and commercial going to be the catalyst for economic meltdown?"

John, are you familiar with a certain old saying about bread and circuses? Entertainment is circuses. When the circuses stop, the unrest begins, if it hasn't begun sooner because the bread stopped coming.

Blogger Tinig ng Kampeon March 31, 2021 2:11 AM  

What do you guys think about all this fiat money moving to cryptocurrencies?

Blogger David March 31, 2021 2:25 AM  

All the stalling and repairing by President Trump is certainly over, as Biden steps on the gas in the opposite direction.

Blogger MarkyMark March 31, 2021 7:19 AM  

If there's any anxiety over the margin call, stock futures aren't reflecting it. Of course, that could change when the stock market opens later this morning, but as of right now, stock futures aren't going crazy-either up or down.

Blogger Unknown March 31, 2021 8:21 AM  

@Silly but True

"Paramount Network with Picard & Star Trek LGBlackscovery?"

I prefer STD, another thing you want to avoid.

Blogger Maniac March 31, 2021 8:45 AM  

"I guess I'll just keep working. Retirement is overrated."

I went to HR about two years ago and asked them to reduce the amount of money going toward my 401K.

I bought a few shares of AMC as well, James. I'll use some of the profits to pay for some of those emergency food packages for me and my family.

Blogger James Dixon March 31, 2021 5:52 PM  

> What do you guys think about all this fiat money moving to cryptocurrencies?

People are looking for a safe haven, and they think gold and silver can be confiscated.

Blogger Ominous Cowherd March 31, 2021 7:28 PM  

James Dixon wrote:People are looking for a safe haven, and they think gold and silver can be confiscated.
Crypto can be accessed from anywhere in the world, and cannot be accessed at all without internet and block chain maintainers. PMs have a very different set of vulnerabilities and strengths.

Blogger Tinig ng Kampeon March 31, 2021 11:22 PM  

> People are looking for a safe haven, and they think gold and silver can be confiscated.

That's what I think too. It would appear that the crypto market is the "new hole" or "new basket" for all fiat money that will be printed from now on.

I wonder how this affects the whole hyperinflation vs deflation scenario.

Blogger Ominous Cowherd April 01, 2021 8:18 AM  

Tinig ng Kampeon wrote:I wonder how this affects the whole hyperinflation vs deflation scenario.
Hyperinflation is when people stop trusting the fiat, and stop holding onto it. If crypto is seen as a viable alternative currency, it might ease that change in mindset from ``I want to get more dollars'' to ``I want to spend all my dollars before they evaporate.''

Blogger OneWingedShark April 01, 2021 10:19 AM  

Doom wrote:OneWingedShark wrote:GeronL wrote:Our economy is so leveraged that the fall of one of these firms could knock the whole thing down. Now I get why the Gamestop thing scared them so much.
Exactly.
The system is so fraudulently gamed that a good sneeze would topple it down.
As always, look to anything but truth, honesty, and justice to be pushed as a solution.

The problem, as with BRIC, is that the options are worse. No one wants to pull the trigger on the golden goose, even if it has leprosy. It's… still the only producer, if a zombie. Even if it only produces debt, it's debt most still believe in (if only through sheer willful blindness).

I reject this, wholly and utterly.
All we need to prosper is for (a) an honest monetary system, (b) Just laws, to include (c) non-punitive/-'obstacular' regulations.
That's it. Respect the actual Constitution: give us gold-coinage and void the fraudulent federal-reserve notes/debts, void any and all patents/copyrights held by non-authors/non-inventors, and we'll blow the rest of the world's minds at how productive we can be.

wahr01 wrote:brrr.money never seems to get old. It's the evergreen meme.
FTFY. (Link)

Avalanche wrote:And I bark: "FEATURE, not a bug. These young screwed-over folks will be delighted to see the Boomers getting their come-uppance in their dotage! And, alas, most of the nice folks doing the interviewing merely nod and agree with the old Boomer who has no idea!
It's the best investment for young men, since the young-man's money is rotting on the vine: savings don't provide any interest, stocks are gamed, marriage is a minefield (take a look at family courts, and no-fault divorce), intellectual-property is stolen by employers via "anything you ever make is ours"-clauses.
So, yeah, spend a few buck to make a banker look at the attractiveness of the cement from 30 stories up… money well-spent.

Blogger Jeremy V April 01, 2021 10:37 AM  

“...they bought their tickets; they KNEW what they were getting into! I say “Let ‘em crash!”!
-Airplane!

Blogger Ominous Cowherd April 01, 2021 11:53 AM  

OneWingedShark wrote:So, yeah, spend a few buck to make a banker look at the attractiveness of the cement from 30 stories up… money well-spent.
Even if you look at it purely as entertainment, you can get your money's worth.

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