Monday, October 28, 2019

So phony.

Robert Shiller on October 20:

Robert Shiller: Recession likely years away due to bullish Trump effect.

"Nobel-prize winning economist Robert Shiller believes a recession may be years away due to a bullish Trump effect in the market."

Robert Shiller today:

"I See Bubbles Everywhere" - Fearful Bob Shiller Warns "There's No Place To Hide".

"I see bubbles everywhere," Shiller, economics professor at Yale University and author of just-published "Narrative Economics" told investors gathered in Los Angeles Wednesday. "There's no place to go. You just have to ride it out. You invest even though you expect the price to decline." Shiller famously predicted the 2000 stock market crash and the 2007 crash of the housing market.

6 comments:

  1. Capital of Texas RefugeeMonday, October 28, 2019 6:38:00 PM

    "You invest even though you expect the price to decline."

    HOW 'BOUT NO, BOB?

    What's going on is that he just got told that he can't praise The Orange Man because Orange Man Bad, and therefore it will be raining cats, dogs, sheep, goats, and possibly also small unicorns in Japanese markets.

    "No, Bob, you don't get it, we are going to crash this economy and we need more suckers putting their money into it so we can crash it harder, so you have to spin people on investing in every damned stupid thing out there because then they'll have to come to us for their recovery. This kills the Batman, uh, The Orange Man, and that's what we want!"

    Yes, they're all a bunch of Jokers.

    Meanwhile, the real problem in the US economy: the ever-increasing size and volatility of "emergency repos" ...

    "Nobody knows what's going on." (September 2019)

    Doctor Doom sez crazy policy responses are a foregone conclusion. (Today)

    (Sorry Doctor Doom, we're going to do some Fair Use Act stuff here now, and besides, this is good advertising, so suck it up ...)

    "One increasingly popular view is that they will find themselves low on ammunition. Budget deficits and public debts are already high around the world, and monetary policy is reaching its limits. Japan, the eurozone, and a few other smaller advanced economies already have negative policy rates, and are still conducting quantitative and credit easing. Even the Fed is cutting rates and implementing a backdoor QE program, through its backstopping of repo (short-term borrowing) markets."

    "But it is naive to think that policymakers would simply allow a wave of 'creative destruction' that liquidates every zombie firm, bank, and sovereign entity. They will be under intense political pressure to prevent a full-scale depression and the onset of deflation. If anything, then, another downturn will invite even more 'crazy' and unconventional policies than what we’ve seen thus far."

    ...

    Max Keiser talked about Repo Madness on RT a while back.

    It's a pretty good show, although I was more of a fan of Boom Bust when Erin Ade was presenting it for somewhat obvious reasons ... :-)

    OH I LOVE YOUTUBE'S WIKI-PROTEST STYLE HERE: "RT is funded in whole or in part by the Russian government."

    Yeah, and that makes them so much less reliable than ... CNN?

    HA HA HA HA HA

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  2. Bubbles!!!!!!!!!
    https://www.youtube.com/watch?v=I6Ffr1U7KMY

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  3. https://adaptivecurmudgeon.com/2019/10/28/the-press-lives-in-cloud-cuckoo-land/

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  4. you might like this:

    https://www.americanthinker.com/articles/2019/10/teslas_fatal_strategy.html

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  5. Texas has a plan:

    U.S.--New billboards have been popping up in California with the slogan "Move to Texas: We have electricity!" Many see this as a play to lure jobs away from California, as many jobs rely on electricity, especially in the modern economy. This could especially be attractive to jobs in the tech sector.

    Roy Rivera, a tech analyst with decades of experience in cutting edge technology, explained that "a lot of tech uses electricity." He then pointed to a chart showing that tech businesses can be at least 300% more effective when they have power.

    California Governor Gavin Newsom was dismissive of Texas's claims, though. "They're making false claims of being able to deliver electricity 24/7," Newsom said, "but it just can't be done." Newsom was also dismissive of the Lone Star State's other claims, such as affordable housing, plenty of water, cheap gas, plastic straws, and not constantly being on fire. "It sounds made up," said Newsom. "I don't even think there is a Texas."

    California plans to fight back. It's now working on a wall to keep people and jobs from leaving California. The planned wall should extend along the entire California border, except for the southern part.


    https://babylonbee.com/news/texas-luring-jobs-away-from-california-with-promises-of-electricity

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  6. "The planned wall should extend along the entire California border ..."

    California's just going to build more "ag inspection" sites.

    You know, the "ag inspection" that involves telling them what kind of toothpaste you used this morning so they can figure out if you are some kind of Eee-Lee-Gull Ale-Yun ...

    I always hated California's bullshit "ag inspection" because it slowed my roll.

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