Full story here. Well, not me exactly, though I can agree with many of the points. This is from Yves Smith and Gonzalo Lira at NakedCapitalism.com. I think it makes the point nicely why this isn’t a usual recession. Go to ShadowTraders and avoid the whole recession thing.
“This post is from reader Gonzalo Lira. Although I beg to differ with him on a couple of his observations, it’s certainly colorful and thought provoking. I give my quibbles at the end.
Insofar as this burgeoning Millennial Depression goes, I’ve noticed there are two sorts of people: Ones such as myself, obsessively following every blog and every chart and chasing after every little Bloomberg article like a starving hunter in an African veldt chasing down every little rodent with a spear, and others who vaguely know that there’s a crisis going on but who are pretty much buying the stock markets’ rise and the mainstream media’s line that “Green shoots are sprouting, and everything will soon be back to normal.”
Obsessives like me and presumably you who are reading this are more or less outraged that these pathetic cud-chewers are placidly eating up this “green shoots” nonsense. We see our charts, we read our Bloomberg, we see one and one thing only: THE END IS HERE!!! REPENT NOW YE SINNERS!!! IT’S A SHORT SQUEEZE, YOU IDIOTS!!! SAVE YOURSELVES FROM DAMNATION!!!
We obsessives are a high-strung bunch. (more…)