Tin Helmet

The DOW has shed 8.7% of it's value while delivering earnings of about 1.4% this year. US debt now exceeds GDP and growth forecasts have been lowered to 1.9% for the rest of the year. With recession fears growing, expect that number to shrink. If my high quality, earnings based stock portfolio is only delivering 1.4% then GDP won't outperform my earnings.

Bondholders have dived into capital conservation, giving up on earnings. There's just nothing there. Considering inflation is at least 3%, everyone is going in the hole on an ongoing basis. Raoul Pol thinks we may be looking at The End Game.

Wretchard and friends demonstrate pretty clearly that there has been no improvement in the unemployment picture since 2007. We're stuck as only the deception of people leaving the workforce supports data showing employment gains. Obama and his programs are utter failures.

Obama though is a mulatto puppet, as Raoul says...

• The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives… 

Yes. This is 1200% of global GDP and the entire fractional reserve banking system is at risk. It is potentially the big reset and maybe, indeed, the end game.

Hiding in a tin helmet? Not so much. I'll go out as a zombie exterminator.