Cocaine!

Seems as though all I am good for is re-blogging ZH these days…

Mega Banks & The Modern Cocaine Cowboy.

 

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Macro Econimics: S&P 2012 YE Projection Data

See Zerohedge here.

Specifically we are looking at Bank of America, which with a forecast surge in Earnings from ($2.5) billion to $10 billion accounts for 14.1% of the entire change in S&P earnings forecasts. And since the S&P is simply the Earnings number multiplied by some multiple, all consensus views that have 1400 as their 2012 year end forecast rely on bank of America to account for nearly 20 S&P points!

I’m not which random orifice they are pulling this data from, but in the end it doesn’t matter. Projections like this are bitterly ludicrous. They will in no way ever come to fruition. BAC is currently trading under $6 a share. Relying on this insolvent corporation to account for 20 S&P points by the end of 2012 is simply not going to happen.

This is the kind of large scale movement that you need to keep an eye on. While there is nothing you can do about it, it is sound intel and should serve as a blatant warning that the disconnect between the elites and reality is wide indeed.

The Worst is Yet to Come

I agree with most of this.

Uncomfortably viewing the banking sector as a curse (and not a cure) for our problems, he sees the Japanese Zombie bank experience playing out which guarantees sustainable growth is not around the corner and suggests we would be far better off medium-term if bank defaults occurred and the painful medicine is taken.

I have no financial sector debt or equity exposure either.

A second time around

Or third, or fourth. The hits keep on coming, and though we know the hammer of God is about to smack us in the face, we do nothing about it.

This is the same (see same) crap that happened in 2008 prior to the crash. There is literally no difference – same shit, different company name.

Systemic corruption and treasonous complicity by Congress, The FED, and the Executive branch.

Denninger sends…

 

Collapse: Tipping Point

Not a series BTW. Sort of a theme.

Chris Martenson via Zerohedge:

What we have here is an ideal set of conditions for a tipping point to arise in our financial system. When such a tipping point occurs, you should expect wild volatility in the markets and be prepared for things to be moving far too quickly to react to with any sort of precision or grace.

That’s why it’s best to be pre-positioned in your financial, physical, and emotional preparations, so that when the next bout of extreme volatility exerts itself, little to no immediate action is needed on your part during the tumult.

Ride out the chaos in safety and confidence. Be a support to those less prepared within your family and community. And take advantage of the luxury few will have to plan your next steps carefully, once the corrective forces clear much of the current uncertainty out of the markets. Doing so will set you up better than most to prosper in the aftermath.

Rest assured, where we are today is not where we will be tomorrow. Likely by a wide margin given recent history.