Pepe on a voyage of self-discovery

Pinko cars: buy, Pepe, buy.

Somebody's Gotta Celebrate 2012 !

Might as well be us? Be well in body and soul, and find some measure of happiness.
Best wishes, Komraden.

Grunderkrach coming to Rotterland?

Background: On May 9, 1873, the Vienna Stock Exchange crashed, no longer able to sustain false expansion, insolvency, and dishonest manipulations. A series of Viennese bank failures resulted, causing a contraction of the money available for business lending. [..] the railway empire of Bethel Henry Strousberg crashed after a ruinous settlement with the Romanian government, bursting the speculation bubble in Germany.

Oedibama Rex

“Reset” won’t be used any more, and the idea that friends like Britain, Israel, Eastern Europe, etc. were to be shunned while rivals and enemies like the Palestinians, Russia, and the Latin American communists were to be courted is over also. Friends are friends for a reason, and enemies the same — regardless of what Obama learned at Chicago and Harvard.

Ambrose is a tad worried

Maryland, Virginia, South Carolina, New Mexico and Tennessee have all be put on negative watch. California has had to raise an emergency $5bn loan. Nevada is spending half its tax-take on debt service costs, and Michigan 40pc. These states are hanging on by their fingernails. Yet if disaster is an outside risk in America, it is an odds-on likelihood in Europe. ... We can only pray that at least one half of the Atlantic system holds relatively firm. If both go down together, buy a shotgun and prepare for 1932.

Bad moon rising

Steyn dyspeptic

Rot tries his hand at Econ 101

Bear on the prowl

Most bears are looking for either a long sideways bear market à la 1966-1982, or a hyperinflationary run to infinity. Our Elliott Wave outlook opposes both of these scenarios. The most likely profile is a stock market crash of historic proportions. Elliott Wave Theorist offers several reasons, including: "This bear market is of Supercycle degree, the biggest since 1720-1784. It should therefore include a decline deeper that the 89% decline of 1929-1932. A decline of 91.5% or more would carry it below 1,000."

Ban the bomb!

In unrelated news... [rot]
More unrelated news... [tecs]

Dry run

UPDATE: Tecs and AA's brains on dry run.

JIHAD!!

The coming storm

FCP alarmism discounted

Pepe says: the tension between fcp alarmism and its failure to materialize is amazing. OK, let's try to remedy that, and present a more hopeful story for a change, to humor Pepe:

Politics is not everything, but I believe that the shrinking probability of a new government insurance plan that would lead to nationalized health care -- along with the demise of cap-and-trade that would nationalize energy -- is very bullish for stocks. ... His whole garbled, inconsistent, and baffling defense of health care looked real bad. The president’s polls have been falling, especially on his policies. And markets see the possibility that free-market capitalism will live to see another day.

More like, Berezina

The special inspector general for the Troubled Asset Relief Program, Neil Barofsky, this week calculated that the government rescue of the financial system could end up totaling $23.7 trillion, counting loans, grants and guarantees from the Treasury, the Federal Reserve, the FDIC, the Fannie and Freddie rescues - the whole kit and caboodle.

To which Pepe replies: the tension between fcp alarmism and its failure to materialize is amazing. Whatever, dude. Just keep on smoking that pinko-colored weed, and you'll see la vie en rose, all the time.

After the Fall of Constantinople

... who's on next? Athens? As usual, Pepe screams at the top of his lungs.

Zaki takes a page from Mr Rot's playbook

Don't worry, be happy. Have some more ouzo.

Piss up a rope

Pepean ideology hit by reality

Vedi Roma con gusto

We're all Russians now

It's all a giant Ponzi scheme, with madoff mullah sloshing around, producing nothing but hot air.