One for the bears.
zerohedge.blogspot.com/2009/05/d … njuah.html
Friday, May 15, 2009
Deep Thoughts From Bob Janjuah
Posted by Tyler Durden at 6:41 PM
pardon the horrendous spelling… but focus on the ideas. Bob is a smart man, even if he was a little overcaffeinated on this particular occasion.
Bob’s World: Mini-May turn?
05/13 10:59:08
Turning to mrkts, some moans 1st:
A - UNEMPLOYMENT - the double digit peaks will happen late next yr. Unemployment is ugly & evil - it MATTERS and impacts ALL of our spending/saving/behaviours. Yet I am shocked at how many ‘commentators’ keep telling me it does not matter, it lags, its all priced in, blah blah blah. It is so sad to hear this nonsense, which is ‘sold’ as credible mrkt thinking.
B - PHONEY MONEY - as absurd is the shrill chorus that is busy spinning that fact that coz central banks are going print-tastic, this means stocks are going higher and higher. Have folks learnt NOTHING!! The events of the last few yrs highlight the difference between ILLUSORY wealth/growth and REAL wealth/growth. The illusion can win out for a while, but ultimately REALITY WILL BITE HARDER the longer the illusion persists. But somehow this shrill chorus is given air-time and column inches - I am stunned by this.
The last paragraph also contains this interest tidbit:
Which also means that longer term (2/4yr basis) I want to own GOLD and CRUDE, and if I have to own currency I prefer the EURO. I trust Mr Weber with my cash. I cannot say the same for other central banks, not least because they are all (most of them) now tools of government and exist only now to serve the agendas of their masters, with the number 1 agenda item clearly being to carry on with the hopeless policy of PRINT/BORROW/SPEND/BUY MORE RUBBISH/DELAY THE TROUBLES TO ANOTHER YEAR for as long as is possible. Sad. But hey, at least we have a EURO to park cash in - for now anyway.
That is currently my position also. How long Mr. Weber will remain the driving force remains to be seen, we have the economic giants of Cyprus, Malta and Slovenia to contend with…
needle
May 16, 2009, 12:08pm
#2
yoganmahew:
One for the bears.
zerohedge.blogspot.com/2009/05/d … njuah.html
Friday, May 15, 2009
Deep Thoughts From Bob Janjuah
Posted by Tyler Durden at 6:41 PM
pardon the horrendous spelling… but focus on the ideas. Bob is a smart man, even if he was a little overcaffeinated on this particular occasion.
Bob’s World: Mini-May turn?
05/13 10:59:08
Turning to mrkts, some moans 1st:
A - UNEMPLOYMENT - the double digit peaks will happen late next yr. Unemployment is ugly & evil - it MATTERS and impacts ALL of our spending/saving/behaviours. Yet I am shocked at how many ‘commentators’ keep telling me it does not matter, it lags, its all priced in, blah blah blah. It is so sad to hear this nonsense, which is ‘sold’ as credible mrkt thinking.
B - PHONEY MONEY - as absurd is the shrill chorus that is busy spinning that fact that coz central banks are going print-tastic, this means stocks are going higher and higher. Have folks learnt NOTHING!! The events of the last few yrs highlight the difference between ILLUSORY wealth/growth and REAL wealth/growth. The illusion can win out for a while, but ultimately REALITY WILL BITE HARDER the longer the illusion persists. But somehow this shrill chorus is given air-time and column inches - I am stunned by this.
The last paragraph also contains this interest tidbit:
I cannot say the same for other central banks, not least because they are all (most of them) now tools of government and exist only now to serve the agendas of their masters, with the number 1 agenda item clearly being to carry on with the hopeless policy of PRINT/BORROW/SPEND/BUY MORE RUBBISH/DELAY THE TROUBLES TO ANOTHER YEAR for as long as is possible. Sad. But hey, at least we have a EURO to park cash in - for now anyway.
That is currently my position also. How long Mr. Weber will remain the driving force remains to be seen, we have the economic giants of Cyprus, Malta and Slovenia to contend with…
Dont see anything in this ‘heavy’ post that hasnt been said on the Pin or elsewhere…
Nope. But the argument still rages
To be fair to him…This guy has been harping on about a crash for at least the last 4 years. He worked in the Credit Derivatives groups of various banks UBS/RBS etc and at the peak of the bubble became known as “Bob the Bear”. In fact, rumour has it that his bosses told him to change his tune or else at one point…Luckily for him that was at the point when it all started to fall apart and he gained a kind of cult status in the world he covered