Wait so you are telling me that JP morgan's own numbers listing their derivatives exposures are wrong and or don't matter?
this coming from the guy who doesn't even understand what the gross domestic product is or that if you lose 50 thousand 40 hour a week jobs that pay
a living wage and replace them with 150 thousand part time jobs that have no benefits and don't pay a living wage that you are creating a seriously
economically untenable situation!
Further though ... are you just going to choose to ignore that china has seen a drop in orders from 70% of it's main export partners last month?
Or that the Baltic Dry index is off by a substantial amount?
Or that Oil demand is collapsing worldwide?
Or that the former powerhouse country's whose growth helped the economic ship maintain steerage power in the last blowup are now looking at less than
1% gdp growth per year (see germany and china)
Or that half a trillion of the gdp number you listed got estimated into existence less than a month ago for the US?
I could keep going on and on but realistically you'd have to be blind, stupid, or have an agenda to believe there is not something seriously wrong
with the world economy right now!
And btw the indicators you are so proud of are at best tangential to real indicators which are not painting a rosy picture at all!
Most telling of all though is the ongoing adventures of gold and silver in the market.... While I"m far from a gold bug or silver tard (last I
checked you couldn't eat gold or silver... nor wipe your fanny with it... nor kill people trying to steal your food and toilet paper with it :lol
I do watch the precious metals markets for certain signs assiduously. Do you know why?
Because gold and silver are not investments... they are ways to store and maintain long term real wealth in periods of economic or social chaos! You
keep them around so that when things do go back to normal you have something that has been recognized as money for thousands of years with which to
start doing business with again while you and society at large pick up the pieces!
That being said though, If you've been watching the gold markets (and no I'm NOT referring to so called paper gold and silver which negates the
entire purpose of owning precious metals btw even before you get into the fact that there are a hundred or more shares of gold for every ounce of gold
held by these companies! but that's another story for another day) you will see that while in theory gold is at 1470 an ounce according to the stock
market... it will be basically impossible to get gold for anywhere near that price if you want to physically hold it yourself... which btw is the only
way to own gold that makes any sense at all!
Silver is even worse... with actual prices out the door for physical being quite a bit higher than spot price! Now someone is going to jump in and
argue that you will ALWAYS pay a higher price for physical gold or silver because it has to be minted and etc... and yes I am aware of this! However
where it gets interesting is that premiums on both metals have spiked quite heavily at most dealers ever since the april takedown .. (which
coincidentally was eerily similar to another precious metals takedown awhile ago.... right down to certain key systems locking people out from buying
forcing people to short an already dropping price to hedge because they couldn't do what they wanted and actually BUY more while the prices were
low!) Now this is interesting because theoretically there has been nothing that has happened recently to necessitate premiums increasing as a matter
of fact energy prices are dropping quite a bit and the cost of energy is one of the single largest primary drivers of precious metals cost to produce
Premiums have risen however because quite frankly people are WILLING to pay the premium to actually physically have the metal in their hand! As a
matter of a fact there is a buying frenzy in many parts of the world that is stressing supply lines quite badly... Remember what I said about precious
metals and their usefulness in times of turmoil? Well here's your big hint kids... the big boys are telling you to sell while they buy up every
last bit of the stuff they can find!