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House Of Cards: Netflix Is One Of The Poster Children For Tech Bubble 2.0

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How can a company that is going to generate $2,000,000,000 in negative free cash flow in 2017 be worth 70 billion dollars?  Netflix has soared in popularity in recent years, but so have their financial losses.  Just like during the original tech bubble, investors are ignoring basic fundamentals and are greatly rewarding firms that are bleeding giant mountains of cash year after year just because they are trendy “tech companies”.  But somewhere along the line you actually have to quit losing money if you are going to survive.  Just ask tech bubble 1.0 victims Pets.com, Webvan and Etoys.com.  The investors that poured enormous amounts of money into those companies ended up losing everything, and similar tragedies will play out as tech bubble 2.0 bursts.

So far in 2017, the S&P 500 is up about 8 percent, but FANG stocks (Facebook, Amazon, Netflix and Google) are up a whopping 30 percent.

But at least Facebook, Amazon and Google are making money.

Netflix is not.

So why in the world has the stock shot up by more than 30 percent so far this year?  It just doesn’t make any sense at all.  According to CNBC, during the first quarter Netflix had $423 million in negative free cash flow, and for the entire year it is being projected that it will have $2 billion in negative free cash flow…

The California-based company is now dumping cash into original content to maintain its dominance over its growing field of rivals. The company’s had $423 million negative free cash flow during the quarter, wider than the $261 million negative free cash flow a year ago. Netflix expects to have $2 billion in negative free cash flow this year.

The bleeding of cash at Netflix only seems to be accelerating.  The number for the first quarter of 2017 was 62 percent worse than the number for the first quarter of 2016, and it was more than twice as bad as the number for the first quarter of 2015.

It is hard to imagine that Netflix will ever be more popular than it is right now.

So if Netflix is not making a profit at this point, when will it ever make a profit?

Similar things could be said about Twitter.  This is a company that has never made a yearly profit and that is actually starting to see revenues decline.  But somehow the stock just continues to go up.  Since the last time I wrote about Twitter, the market cap has shot up another 1.5 billion dollars.

At this point, the market values Twitter at 13 billion dollars, but in the entire history of the company it has actually lost 2 billion dollars.

What we are witnessing is a modern day version of “tulip mania”, and at some point this irrational euphoria will come to a sudden end.  In fact, there are already some signs that tech bubble 2.0 may be in a significant amount of trouble.  The following is an excerpt from a Bloomberg article entitled “Investors Go All-In on Tech Giants”

The tech-powered rally has catapulted the sector to a price-to-earnings ratio of 24.4, or 41 percent above the 10-year average. But as Google and Amazon stretch to nearly $1,000 a share, not everyone is comfortable with the valuations. Investors pulled more than $716 million from the most popular technology exchange-traded fund last week — the $17.4 billion Technology Select Sector SPDR Fund, or XLKits largest weekly outflow in over a year, data compiled by Bloomberg show.

“Most everybody remembers 2000, so they might be getting a little nervous with this development,” said Maley. “I just wonder how many people have said to themselves, ‘If AMZN gets to $1,000, I’m going to take at least some profits.’”

All over the financial world, prominent voices are warning that the enormous financial bubbles that we see all around us are not sustainable and that a major crisis is heading our way.  I wrote about some of these voices yesterday, and today we can add Paul Singer to the list…

Given groupthink and the determination of policy makers to do ‘whatever it takes’ to prevent the next market ‘crash,’ we think that the low-volatility levitation magic act of stocks and bonds will exist until the disenchanting moment when it does not. And then all hell will break loose (don’t ask us what hell looks like…), a lamentable scenario that will nevertheless present opportunities that are likely to be both extraordinary and ephemeral. The only way to take advantage of those opportunities is to have ready access to capital.

When the financial markets collapse, Donald Trump will likely get most of the blame.

But Donald Trump did not create the stock market bubble, and he will not be responsible for ending it either.

Since the Federal Reserve was created in 1913, we have seen this same story play out over and over again.  There have been 18 distinct recessions or depressions since the Fed was established, and the more the Fed interferes in the marketplace the larger the booms and busts tend to be.

And it could be argued that this time around the Fed has manipulated financial markets more than ever before.  Interest rates were pushed as low as possible and trillions of dollars were pumped into the financial system during the Fed’s quantitative easing programs.  Of course those actions were going to create a huge bubble, and of course that bubble is going to inevitably burst.

Unfortunately, this is not just a game.  Real people with real hopes and real dreams are going to be absolutely devastated.  Millions of Americans that were carefully saving for retirement are going to be financially crippled, and pension funds all over the nation are going to be wiped out.

I don’t know why we can’t seem to learn from history.  And I am not talking about events that happened decades ago.  The build up to this coming crisis is so similar to what we witnessed just before the crashes of 2000 and 2008, but we just keep getting fooled over and over again.

But once things fall apart this time, I think that the American people will finally be fed up.  I think that they will be sick and tired of an unelected, unaccountable central bank that creates endless booms and busts, and I think that they will finally be ready to push Congress to shut the Federal Reserve down for good.

 
  • aldownunder

    It will all be good the marvelous Fed will have your back
    Just ask socalbeachdude

    • socalbeachdude

      Remember One Thing – Karl Denninger

      The Fed has never, in its history, managed to actually prevent a market collapse.

      It did not do so in 1929.

      It did not do so in 1987, despite it being evident that the market was going to blow up.

      It did not do so in 2000, despite it being evident that the market was grossly overheated.

      It did not do so in 2008, despite having more than a year worth of warning (the two Bear Stearns hedge funds) and in fact Bernanke testified under oath that “subprime was contained.”

      It will not do so this time either.

      https://market-ticker.org/akcs-www?post=230456

      • Stuey

        Yep, exactly, the Fed is worthless. You post a link to an article about how worthless the Fed is but yet you defend the Fed yourself. You are really bright.

        • socalbeachdude

          The Federal Reserve was created by an Act of Congress and only has the authorities given to it in the FEDERAL RESERVE ACT and doing anything about the stock markets is certainly not one of those authorities at all. Your mindless snarks are beyond mind boggling. I would suggest you learn about the Federal Reserve and what it does and does not do at its excellent web site at:

          http://www.FederalReserve.gov

    • Guest

      Are you in Australia?

      • aldownunder

        Yeah mate

        • Guest

          The weather must be beautiful right now. Here in the northern hemisphere it’s getting hot.

          • aldownunder

            Yeah early autumn (fall) mid 20’s(70’s) during the day lots of sun cooling off at night

          • Guest

            Nice! Enjoy.

          • aldownunder

            Yeah you wouldn’t be dead for quids

          • Guest

            Quids? I’m not familiar with that word.

          • aldownunder

            Dollars

          • Guest

            LOL. I see.

          • PocoPete

            Put a shrimp on the Barbie for me.

          • LIZ THE SHIZ

            but the Dingos will eat them first

          • JC Teecher

            Keep a big roo near by, so he can kick the sheet outa them baby eatin’ dingos.

          • LIZ THE SHIZ

            or a big Sheelah

  • socalbeachdude

    UBER LOSSES: HOW TO LOSE $3 BILLION A YEAR…

    Uber Is Losing Money At A Historic Rate

    With its day-to-day business burning through almost $3 billion last year, the company is in the league of the true money-losing giants.

    https://www.buzzfeed.com/matthewzeitlin/uber-is-losing-money-at-a-historic-rate?utm_term=.frmdzMpva#.uh2mjrJV0

    UBER CEO Plays With Fire…

    Brink of Implosion…

    https://www.nytimes.com/2017/04/23/technology/travis-kalanick-pushes-uber-and-himself-to-the-precipice.html

  • socalbeachdude

    The “New” Financial Weapons of Mass Destruction

    According to Goldman, a mere 10 stocks — 10 stocks — account for almost half the S&P’s gains for the year.

    Forty-six percent, to be precise.

    This year’s bull’s-eye stocks are the so-called FAANGs — Facebook, Amazon, Apple, Netflix and Google.

    Rounding out the top 10 are Visa… Philip Morris… Oracle… Home Depot… and Broadcom.

    Most other stocks are zeroes — or worse.

    David Stockman in yesterday’s reckoning:

    “During the last 70 days, the FAANGs have gained $260 billion in value, while the other 495 companies in the S&P 500 have lost an identical amount… Other than the five FAANG stocks, the market has been silently collapsing since March 1.”

    Meanwhile, recent data from Fundstrat Global Advisors reveal that just 40 stocks out of 500 — 8%, that is — account for some 85% of the S&P’s gains this year.

    https://dailyreckoning.com/new-financial-weapons-mass-destruction/

  • socalbeachdude
  • Guest

    Why is it that when “socalbeachdude” includes a link in his comment that it’s immediately posted, but when others do so their comment goes into moderation?

    • aldownunder

      He works for the Fed

      • Guest

        I don’t think so. But I would like an answer to my question from the owner of this site.

        • aldownunder

          How else would you explain all his pro Fed comments continuously

          • Guest

            Another thing I’ve noticed is that his comments are sometimes above comments that have more up votes than his. The owner of this site must be in on the game.

          • Carl

            Don’t be jealous because you don’t know how to play and no one will teach you. Wait we do have a bonafide Teecher on this blog. Maybe he can share some pointers with you.

          • Gorilla Glue

            Go fix your garage door, Carl.

          • Bill

            Pseudonyms help build traffic to pay the bills…

          • Genius

            Genius actually. Owner/Moderator/Friend/Enemy, what other masks does he wear?

          • LIZ THE SHIZ

            bingo, Sherlock!! hve yor ever seen snodt and socal in the same room?

          • SnodtBlossom

            I live in Florida, Socal lives in Cali

          • LIZ THE SHIZ

            according to your Pschychiatrist you live in 7 places inside your warped mind

          • socalbeachdude

            SnodtBloom has always clearly stated that she lives in Florida.

          • Scoobydoo

            Who must remain unspoken of unless you want to be flagged for using said owners name. Another mystery, who can solve them?

          • socalbeachdude

            Simply stating and reporting the FACTS.

          • aldownunder

            Or are you related to Janet

          • LIZ THE SHIZ

            well, quit your “YELLIN” people are trying to sleep!!

          • TOUJOURS DEMAIN

            Try asking him. That’s what I would do.

        • Carl

          Yes, he should answer you because after all you are paying him, right? Seriously dude you are not the center of the universe. Check your ego.

          To answer your question: SocalBeachDude has a lot more credibility than you do when it comes to links. Thus the reason you go into moderation and he doesn’t. Plus the owner of said blog likes SoCal and his informative news so that helps also.

          • LIZ THE SHIZ

            cut/copy/paste does not make an enterprising financial journalist ,
            socal couldn’t clean the toilets at the Wall Street Journal.

          • JC Teecher

            Lol, lmao funny. I knew there was a reason I unblocked you. sbd has a few idiots fooled, like Carl, fartblossom, and Orange, but I see you got his number.

          • SnodtBlossom

            Liz, your favorite tranny, is NaziSpawn

          • LIZ THE SHIZ

            no it’s Caitlyn

          • socalbeachdude

            Get a clue, Lizzie.

          • Stuey

            well said

          • Stuey

            SoCal constantly says the author is wrong and has basically called him a liar numerous times when i questioned him about it, although he will never give you a straight answer, but yes he basically says the author is a liar. So why would the author like him? hmmmmm

          • socalbeachdude

            Absolutely false.

          • SnodtBlossom

            who cares

        • Stuey

          Some have suggested he is the owner in disguise. I don’t know if it is true, just saying.

      • socalbeachdude

        Laughably and absolutely false.

        • HeyAHuman

          But really… How do you post the links without getting flagged?

          • Insert three letter agency

            Spooky spooks will spook you every time.

          • gUeSt

            He’ll answer every other question but not this one. Go figure.

    • JC Teecher

      Ever notice he thumbs/arrows himself up?
      It works for me when I need something to stay up, right then.

      • Carl

        Teecher thumbs himself the first Wednesday of every month.

        • CatholicStickyMudHole

          Is that your thing? Were you raised Catholic? Did you get the thumb? Or the stick?

          • JC Teecher

            You may be on to something. There are a lot of whackey weasels on this planet.

      • JC Teecher

        Always a comment from the peanut gallery. I can imagine he is hating on God or somebody again ………………….|/

      • SnodtBlossom

        JCT has his thumb up his orifice

    • Bill

      Here we go again…. Can’t ask a legitimate question…. This blog has turned into a write your own rules blog …

      • SnodtBlossom

        Socal is special

        • LIZ THE SHIZ

          because you are him and he is you

          • socalbeachdude

            Laughably false and utterly clueless again.

          • SnodtBlossom

            I am he as you are he as you are me
            And we are all together
            See how they run like pigs from a gun
            See how they fly
            I’m crying
            Sitting on a corn flake
            Waiting for the van to come
            Corporation T-shirt, stupid bloody Tuesday
            Man you’ve been a naughty boy
            You let your face grow long
            I am the egg man
            They are the egg men
            I am the walrus
            Goo goo g’joob

    • SpookySpook

      You’re on to something there Guest. I think he’s a spook.

      • socalbeachdude

        Oh, please. What utter nonsense.

        • awb22

          Nah, he just doesn’t have anything better to do, a member of the leisure class and bored. He knows the ship is going down, but he’s traveling first class, so everyone else is going to drown first.

          Not me, when SHTF, the hardest part for me is going to be hiding my excitement.

          beach bum is counting on his private police force guarding his gated community to protect him. How fast do you think the latin kings, bloods, and crips are going to be driving through his gate?

          What utter nonsense, indeed!

          • LIZ THE SHIZ

            when you live above the garage as the pool boy you can still say you live in Beverly Hills

          • socalbeachdude

            Another clueless bogus snark by you!

          • awb22

            All we need is Sodomite Joe aka gay veteran and it would be a party. Mo, Larry, and Curly.

          • socalbeachdude

            All we need is some PROPER MANNERS and civility, but apparently you are not capable of either.

          • awb22

            Oh, how so? What would you know about proper manners or civility?
            Apparently, not much.

          • socalbeachdude

            You’re the one always putting up snarks that are extremely offensive and ignorant, not me, dude or dudette. Frankly, you sound like a real dumb redneck.

          • awb22

            Projecting, again.

          • socalbeachdude

            Beverly Hills, CA is not a gated community.

          • awb22

            Which is going to look like The Purge when SHTF, ala LA Riots 2.0

          • socalbeachdude

            Your ignorance regarding Beverly Hills, CA and superb capabilities of the BHPD are just beyond mind boggling. That sort of hooligan criminality would not be tolerated for a single second in Beverly Hills.

          • awb22

            Your stupidity precedes you.

          • socalbeachdude

            Laughably false, but that certainly does describe YOU quite well!

          • awb22

            I’ll defer to your experience in the matter.

  • socalbeachdude

    Amazon’s share price tops $1,000 for the first time – making a $1k investment when the company launched in 1997 worth almost $500,000 now

    Amazon reached another incredible milestone on Tuesday morning, when its share price on the New York Stock Exchange surged above $1,000 for the first time.

    http://www.dailymail.co.uk/news/article-4555888/Amazon-s-share-price-tops-1-000-time.html

    • Guest

      You posted the same comment on yesterday’s article.

      Stop cluttering the comments section of this site!

      • socalbeachdude

        What utter nonsense.

        • awb22

          Your response is the only nonsense here.

          • socalbeachdude

            Hardly, but your snarks are total nonsense.

      • Stuey

        SO SO SO TRUE!!!! All he ever does is clutter up everything with his links post. Why is this allowed to continue to happen?

        • socalbeachdude

          What you obviously do not like – and apparently cannot handle – are the ACTUAL FACTS and intelligent analysis on issues as is apparent from your endless stupid like snarks with absolutely zero substantive content or value.

          • CASTIEL

            You are really f#cked in the head…..Dont have you anything better to do?

          • socalbeachdude

            That apparent describes YOU perfectly.

          • CASTIEL

            Describes my lack of patience to m#rons like you……..I m not the one creating spam by doing hundreds of copy n pastes and making war with other posters………….Grow up!!!

          • socalbeachdude

            What you apparently have no interest in doing is LEARNING ANYTHING AT ALL which is a truly sad and pitiful situation.

          • CASTIEL

            I dont learn nothing with idiots……

          • socalbeachdude

            No doubt and that’s the sort you wallow around with constantly, so it’s no wonder that you are so ignorant about everything!

          • SnodtBlossom

            Castiel É um Portuguese saco de imundície

          • CASTIEL

            You post a selfie of your ugly face in your avatar?

          • gUeSt

            Trust Fund Babies don’t have anything else better to do.

          • gUeSt

            Castiel’s comment got deleted. Poor butt hurt socalbeachdude can’t take an insult.

          • Stuey

            Now that is a response. I knew you had it in you. You had been slacking. What’s the matter you can’t handle a little criticism? I like how you put actual facts in caps, as if you are giving out actual facts with your mindless dribble.

      • TOUJOURS DEMAIN

        Just a suggestion, if you dislike anyone’s comments, don’t read them or just block them.

        It’s entertaining seeing someone who thinks their going to survive a societal colapse but can’t cope with a comment they don’t like.

    • Guest

      What are you trying to prove by hijacking the comments section of this site?

      • socalbeachdude

        Huh?

        • Stuey

          Huh? Is that all you have to say is “huh”…..like the dufus you are.

          • SnodtBlossom

            He isn’t hijacking

          • Guest

            He certainly is.

          • socalbeachdude

            Laughably false.

          • SnodtBlossom

            ,,

          • LIZ THE SHIZ

            4 personalities today , that’s a record now go take your Prozac

          • LIZ THE SHIZ

            I bet you’re looking in the mirror when you made that comment

          • SnodtBlossom

            NaziSpawn, you are worthless

  • socalbeachdude

    Big tech accounts for a third of the gains in stocks, but that could be trouble for the market

    Apple, Amazon, Facebook, Microsoft and Alphabet Class A shares account for about a third of the S&P 500’s gains this year, underscoring tech’s breakout year.

    Experts say the market could be vulnerable to a pullback if other stocks don’t pick up some slack.

    http://www.cnbc.com/2017/05/30/big-tech-accounts-for-a-third-of-stock-gains-but-that-could-hurt-the-market.html

  • Trump 2020

    Gold Backed Currency Launches In Dubai – It Is A New Currency Known As One Gram (OGC) Backed By One Gram Of Gold And Can Be Used For Digital Payments. (Zerohedge Article).

    • LIZ THE SHIZ

      Zerohedge, there’s a real beacon of journalistic integrity !

      • Trump 2020

        And this blog is?

        • socalbeachdude

          A very useful and intelligent blog about the collapsing state of the global economy.

          • Stuey

            Haha, that is laughable since you disagree with the author on his main points, especially the last line of this article where he says the Federal Reserve should be shut down. Shut it down! Shut it down! Shut it down! You come on here for one reason only and that is to put your trash opinions out to the follows of this blog, you are piggy backing off of the blog’s success.

          • socalbeachdude

            The Federal Reserve is a superb and excellent central banks and is not in the least bit a problem as to the economic DEBT DISASTERS IN THE USA where total debt now exceeds $67 TRILLION.

        • LIZ THE SHIZ

          it’s the Socal cut/copy/paste Economic Collapse for people who can’t think for themselves

      • socalbeachdude

        Indeed. They are nothing but utter dolts over at ZeroBrains.com.

        • PocoPete

          Zero Hedge is one of my favorite websites. I have learned a lot from the articles there.

          • socalbeachdude

            No wonder why you are so utterly and totally ignorant if you read the PSYCHOBABBLE NONSENSE from those imbecilic dolts over on ZeroBrains.com.

          • PocoPete

            Not totally, only partially.

    • UnicornCashCow

      Where’s Southern Californian Beach Bum?

      Gold = money

      Fiat Currencies = Fake money

      Digital Currencies = Unicorn money

      • socalbeachdude

        Gold has nothing whatsoever to do with money.

        • quiz

          Undervalued, not overpriced. When you disconnect the value of money from a real asset there is power to grow the money supply exponentially, to the detriment of everybody within the system. Nice talking with you Ben, or is it Mr*Snyder?

          • PocoPete

            Yes, gold is very undervalued. The price of gold is being suppressed by many central banks including that of China which has been on a gold buying spree for several years.

            That will change when China reaches its gold reserve target of 10,000 tons — surpassing the United States. At that point, it will be in China’s interest to become more transparent and let the price of gold soar.

          • socalbeachdude

            Absolutely and laughably false. The government of China has VERY LITTLE GOLD amounting to only about 1,677 metric tonnes which is worth LESS THAN $100 BILLION which is a tiny speck of dust relative to their egregious money printing where they have created more than $30 TRILLION OF CURRENCY over the past 10 years resulting in a money supply of more than $34 TRILLION.

          • PocoPete

            Of course the Chinese government only acknowledges owning 1,677 tons of gold. They do not want to draw any excess attention to what they are doing since this would drive up the price of gold while they are in the accumulation stage.

            Gold mining in the People’s Republic of China has made that country the world’s largest gold producer by far.
            Despite this enormous domestic production, China is also the world’s largest gold importer. China will do everything possible to suppress the price of gold since to do otherwise would be extremely costly, at least until they have reached their goal.

            China has a history of murky financial dealings. The PBOC does not continuously update its gold reserve holdings. When the People’s Bank of Chian hiked its gold reserve status in 2009 it did so overnight, in a big way, abruptly announcing that its reserves had nearly doubled to 1,054 tons, up from 600 tons.

          • socalbeachdude

            China is indeed the world’s largest producer of gold with a 14% market share of the around 2800 metric tonnes of new gold mined ever year which is equal to about 400 metric tonnes of gold each year which they mine at a cost of around $300 per ounce. The second largest producer of gold is Australia with around 10% share of annual global gold production. The third largest producer of gold from new mining is the US with about a 9% share.

            China government has repeated stated it has no interest whatsoever in holding gold that amounts to more than 1.5% of its overall reserves and that it considers gold to be a very risky asset with obviously HUGE PRICE VOLATILITY.

            China certainly does nothing whatsoever to “suppress the price of gold” and couldn’t care less about the price of the stuff. Nearly all of the gold imported into China is bought for JEWELRY PURPOSES which is the case also everywhere else in the world.

            The PBOC has no interest whatsoever in gold in the big picture and the amount of gold it owns is worth less than $100 billion while it has created more than $30 TRILLION IN CURRENCY which is the renminbi (RMB / yuan) and that is the focus of the PBOC which now has an overall money supply of more than $34 trillion due to egregious unprecedented printing of renminbi.

          • socalbeachdude

            Gold is preposterously overvalued at any price above its mean of $456 per ounce and has CRASHED IN VALUE 35% since its manic speculative high nearly 6 years ago on September 05, 2011.

    • socalbeachdude

      What utter nonsense.

      • awb22

        that’s your response to anyone who offers an opinion differing from your own. Not very original.

        • Stuey

          Yep, that is all he has, insults and “utter nonsense” .

          • PocoPete

            Laughably true.

  • JC Teecher

    Amazon did hit the 1k dollar per share, briefly today.
    I thought I remembered, faintly, that another stock had hit that mark in the past, and was surprised to learn that there are a couple more as well

    “Membership in the $1,000 club has doubled. Stocks that trade for four digits or more per share now include Priceline.com (symbol PCLN) and Google (GOOG). They join longtime members Berkshire Hathaway (BRK-A) and Seaboard (SEB), a little-known agribusiness and shipping company.”

    Well, why do these few select companies reach such seemingly ridiculously, high prices per share?
    Basically it boils down to the fact that the company refuses, for whatever reasons, to split the stock, which is normally 2 for one, but in some cases could actually be a reverse stock split as well.

    • socalbeachdude

      Basically, it all comes down to IDIOT MANIC SPECULATORS PLAYING WITH “HOT MONEY” BETTING ON THE WINNING TICKET (STOCK) REGARDLESS AS TO UNDERLYING FUNDAMENTALS.

      • whisper

        stop yelling

        • socalbeachdude

          Do you not understand my comment?

          • whisper

            I understood and agree, but you are typing in all caps. Either you feel you are not being heard or are overcompensating for something.

          • socalbeachdude

            Good. I’m glad you understand the real issue as to what is going on with a few stocks on Wall Street these days!

          • CaughtRedHanded

            Don’t you have another blog installment to write M*i.c.h.a.e.l.S.n.y.d.e.r?

          • socalbeachdude

            Oh, pulease.

        • JC Teecher

          A few years ago, a young man was a regular poster on a prepper site I visited regularly.

          He showed the same characteristics as sbd, of which one is the continual darker, cap letters, most of the time.

          Most of us finally figured it out by his “revealing” of information about himself.
          He suffered from the introvert, psychosis disorder that made him feel like he was always lacking any semblance of confidence, so he used the keyboard/keypad, to hide behind and shout out his messages.
          In some twisted way, he felt like he was getting the attention from his highlighted words in caps, that he so craved.
          Another key is the back to back string of postings of copy and paste links and so forth. Pay close attention and he will take someone else’s articles he has found and twist them just a little and post like he has come up with the idea or explanation of something.

          it was very obvious to me as he sometimes would, even in the same blog article, contradict himself several times. Anything about reality and spiritualism he immediately denounces as nonsense, or sometimes acts as though he has the right answer on a matter, but it does not align with biblical teachings or doctrines.

  • Liberty First

    Why can’t we learn from history?

    Oh, people know fully well, the people in power, what will happen if they play these games.

    But we have become too corrupted as a society to care, reflected first at the top of our govt.

    • Carl

      People can’t learn from history because the history they learn is not actual history. It is a cleverly concocted piece of propaganda designed to make one side look like the winner and the other side the loser.

  • Maple Curtain

    The Jews will start WWIII long before they’ll give up the central bank scam.

    • sicksuckers

      Absolutely. Actually, they’ve already started it. It’s a race to the bottom with money printing. All that’s needed is to destroy some defenseless nation, obliterated for a just cause.

      • HadItWithThem

        You and Maple Curtain are BOTH exactly correct! A lot of people scoff at the fact that the Jews have controlled everything from money to world leaders for a very long time…

        • JC Teecher

          There are also a lot of people that do not acknowledge what Christ said about many of those _ews.

          “I know thy works, and tribulation, and poverty, and I know the blasphemy of them which say they are _ews, and are not, but are the synagogue of Satan.”

    • LIZ THE SHIZ

      another ZeroHedger heard from

  • Ricardo

    Anybody here know “This User is Blocked” ? He/She always has white comments. I haven’t seen snotbot and social dudeatthebeach for quite some time. Has anyone here seen them recently ?

    • PocoPete

      Socal Beach Dude posted on this article about 6 hours ago below (about 6 PM East Coast time on May 30, 2017).

      • SnodtBlossom

        here I am.. I work unlike the old tards

    • JC Teecher

      I got many posts from the same he/she/it, “this User is Blocked”. Someone made the comment to me that I was “too easily offended”, because I have several blocks on, but; I prefer to keep nonsense to a palatable level.
      Snottybox, Carl, and sbd leave a foul tasting residue, that I have no taste for.

      • SnodtBlossom

        your loss

      • JC Teecher

        fartblossom is alive and kickin somewhere out of my realm, thank goodness.

    • PocoPete

      Can you see SnodT blossom’s reply below or is it whited out?

      • Ricardo

        Both snotbot and dudeatthebeach comments are always “This user is blocked” so I never see any of their comments. But if anyone replies to their comments then I see those replies. I did contemplate blocking all replies made to them and then I realised there would be hardly any comments to read on this forum.
        Not sure why the owner has allowed basically just two people to over run his site. Only he knows the answer to that.

  • wondering

    socalbeachdud = Michael*Snyder

    • JC Teecher

      doubtful, but anything is possible I guess

      • LIZ THE SHIZ

        you should have tried pimping so you could both share the profits [sarc]

        • JC Teecher

          You do have a way with words.

          Now that you mentioned it, a few years after the divorce when I cruised the bars in the 80’s, i was approached by a school teacher that was ten years my senior, and asked if I would take her home and treat her rough in bed.

          When I passed on the proposal, she then offered me a benjamin, if I would stay the whole night. I thought about it for two seconds, until i had a vision of being tied to the bed posts, and being violated. I’m not into bondage nor S & M, and I have learned that alcohol mixed with sex can make some people turn into animals, of the wildest kind.

      • SnodtBlossom

        there is no god

        • GOD

          LAUGHABLY FALSE !

        • gUeSt

          There also is no SnodtBlossom when you click the little triangle on the far right side of the screen and click block user.

    • Stuey

      That seems to be the thought by many here. And here i have been debating with him for so long. I guess he played me for a fool.

    • LIZ THE SHIZ

      you might be on to something Sherlock !!!

    • socalbeachdude

      Nope.

    • LIZ THE SHIZ

      that’s a BINGO

      • socalbeachdude

        That is so absurdly false as to be mind boggling.

  • JC Teecher

    It amazes me how stupid and utterly ignorant some humanity has become.
    That horrible Kathy Griffin holding up a decapitated Trump head is despicable and deplorable, and down right illegal, or should be.
    It is way beyond free speech and is the farthest thing from humor that exists. Sad, sad liberals, and sad for those following their lead, as there will be hell to pay one day.

    And this latest crap out of North Korea. the new I-pad, called Yiamhung, or something stupid like that. lol.

  • number 6

    Not to worry – Netflix and the like will continue – someone will buy it for 10 cents on the dollar. The shareholders will take it in the shorts – but who cares about them.

  • DJohn1

    Have you ever visited South Korea?
    In the 60s the currency collapsed.
    When the smoke cleared, in American currency, a dollar became a dime, a dime became a cent, and those that owned commodities became rich. Most owned warehouses. If you owned an old truck, it became a money-maker.
    I was there in 1965, a few years after the collapse.
    I asked questions and that is what I found out.
    The most important commodities are food, clothing, shelter, and transportation. Real Estate Rental Property goes up in value but only after the currency stabilizes and people are able to pay rent.
    Pensions become valueless because they are based on the old currency.
    COLA in Social Security is worthless right now.
    Anytime you go 3 years without a raise something is wrong. Anytime your raise amounts to $6-$7 a week, it is worthless.
    Especially if other expenses go up like Medicare and secondary insurance deductables that have gone from $600 to $6,000.
    Anyone reading the annual reports revised after 3 months knows what is valuable and what is not.
    Gold is a universally accepted commodity by which the world judges a currency worth. Right now we do not have the gold to cover ourselves with on a federal level.
    Nixon devalued our currency when he took it off the $35 per ounce. It has since went through the ceiling and it changes every day.
    He also devalued the war debt by doing so. $450 billion dollars worth of war debt from Vietnam became worth 10% of its value in real commodities shortly after. At the time, it went over $600 per ounce. In the mid 90s, Russia went bankrupt and dumped huge amounts of gold on the open market bringing it down to about $360 per ounce for a short while. After 9/11 and war, gold jumped to over $1600 to $1800 per ounce.
    The problem I see with gold is at any time by executive order the government can outlaw ownership of gold and pay you what they like for existing supplies in paper currency. Then they can sell the gold for twice what they bought it from you. Ask anyone what FDR did about gold.
    SIlver is similarly controlled as the Hunt family found out.
    Even the food in your pantry is subject to confiscation in an emergency by orders from Obama.
    I suggest every executive order ever made expires with the change of President. Force the Congress to make polltical judgements on emergency orders by any President. If they expire then either the President or the Congress has to do something. Lots of luck getting Congress to do anything as witnessed by their responses to Obamacare.
    The only way the Federal Reserve will go away is if we do not borrow money to fight wars all over the globe.

    • JC Teecher

      I can appreciate anyone wanting to try to bring America back from the current ussag (united socialist states of Abortion and Gaymorrah).
      I applaud anyone with balzz enough to even talk about wanting to form a coalition to push for the removal and disposal of the federal reserve.
      Those are noble efforts and ideas, but I am a realist, and that does not mean I am a pessimist.

      However; the bottom line where the rubber meets the proverbial pavement is this:
      The federal Reserve is part of the tightly woven cult known as the NWO/Illuminati/end times beast system of gov. It has no boundaries nor morals of which it is bound to. It answers to no one because it is allowed to prosper under the hand of Satan. Many of the Nwo rites and rituals involve satanic worship. It is a bad ole boys club, and you better be glad you are not in it.
      Souls are sold and dedicated to the bringing forth of the Antichrist, which is a role that will only be played by Satan himself.

      So when looking at the whole ball of end time wax, the nwo/federal reserve go hand in hand in bringing forth the prophesied events that consummate the end of this age. In my deepest understandings and acknowledgements, there is not much time left.
      Christ told us about recognizing the setting out of the fig tree shoot/plant, of the last days, as in the setting up of the nation of Israel. In general it is known as the generation that sees that come to fruition, and all the things since then that was laid out, as the seals of the end of days of this age, and abbreviated as the “generation of the fig tree”.
      A generation was used because it has a specific time line attached to it. The longest generation of our day is pretty much agreed upon as 120 years.
      We have been shown in the word that there are examples of a 70 year generation and a 40 year generation.
      Is the period Christ was referring to, the 120 yea?
      if so, one could say, that this flesh world will definitely not go beyond 120 years from the 1948 declaration of the rebirth of Israel. It could be, but I will have to see it to believe it.
      What if it is on God’s time clock by an average of the three generations, which comes to a max of 76.6 years? Then we must consider, was Israel fully a restored Nation again until the 6 day war of 1967 when they regained control of the Temple Mount/Mt. Zion, in Jerusalem, the site of Solomon’s Temple.
      We can not know the exact Day of the Lord, until the three witnesses are killed and lay dead in the streets of Jerusalem for three days.
      But we can know the season by the events that are unfolding right before our eyes.
      The bottom line is this: we do not have generations left to come forth in the flesh, until all these things be fulfilled. Damascus is almost in ruins, and will at some point become uninhabitable. That is when I can without a doubt say, we have begun the countdown, or if the Prophesied events of Ezekiel 38/39 come about before that time, we are given a vital timeline there as well, and we are told of a following seven year period, as soon as God destroys that coalition of the Russian led federation that comes against Israel. Not the Nation of Israel as 99% say Ezekiel is referring to, but the house of Israel…..North America, as what the words make a reference to.
      Is the stage being set for that event? Yes
      The invasion/battle (armageddon) in the Nation of Israel, is reserved for the very last battle, and is made for an end to all wars, by the arrival of Christ Himself as King of Kings, and Lord of Lords.
      So, time will tell, if anyone is able to disarm the Federal Reserve and kill the leading arm of the NWO/beast system. If so, but I highly doubt it, then we would possibly be afforded a few extra years, or maybe even a decade or two.
      The main thing is to be prepared to live, until we die, and then live again eternally.

    • socalbeachdude

      Social Security benefits need to be cut very significantly in order to make the program actuarily sound.

      • LIZ THE SHIZ

        tell that to hardworking people who just made ends meet during their working years and now just have SSI to live on

        • socalbeachdude

          What on earth does that have to do with anything? Beneficiaries are getting FAR MORE IN BENEFITS THAN THEY EVER PAID INTO THE SYSTEM and all of the Social Security Trust funds have already been spent and there is nothing left but a special class of US Treasuries to the tune of around $5 trillion that are just IOUs that must be paid for out of current federal government revenues. What part about those very clear facts do you somehow not comprehend?

    • socalbeachdude

      The current official US government price of gold is $42.42 per ounce.

    • socalbeachdude

      The USA defense budget spending is ONLY 16% of the federal budget of around $4 trillion and the biggest cause by far of the US government overspending of around $1 trillion a year comes from WELFARE AND MEDICAL SPENDING which is now more than 63% of the federal expenditures.

  • TOUJOURS DEMAIN

    Hold on, this is waiting to be approved by The Economic Collapse.

    “Mi÷ch% ae×l did say he allows almost everyone a certain degree of freedom of speech, and allows “darkness” so that “light” can prevail over it.”

    And you believe that?

    I don’t.

    See what happened when I used his name?

    • JC Teecher

      Come on man, wake up! Mic hael has an account with DISQUS.
      Part of that account agreement, is guidelines that he has set forth as to key words that throw comments into moderation such as the F bomb, all the way to his name.
      Sometimes he gets back on top of the “held in moderation” comments right away, and sometimes it is a full 24 hours or more before they are released or deleted.
      I mean, can you blame him? With the vitriol and hate going on would you want someone using your name spoken with spewing lies and hate speech, along with vulgarity?
      He lets most stuff fly, and I have even had a few things deleted, as I use some salty language sometimes.
      Now I have managed it a little better, and masked some of it to keep it from being automatically thrown into moderation, or even deleted by he that owns and operates, as in paying the bills, for this site.

      • TOUJOURS DEMAIN

        He is not “paying the bills for this site”. The sponsors are.

    • PocoPete

      What happened when you used his name?

      • gUeSt

        The comment goes into moderation.

      • TOUJOURS DEMAIN

        Type in his name and post it and see for yourself.

  • socalbeachdude

    How debt-asset bubbles implode – Charles Hugh Smith

    http://charleshughsmith.blogspot.com/2017/05/how-debt-asset-bubbles-implode.html

  • Spam Artist

    The 65th Bilderberg Meeting to take place from 1 – 4 June 2017 in Chantilly, Virginia, USA.

    CHANTILLY, 31 MAY 2017

    The 65th Bilderberg Meeting will take place from 1-4 June 2017 in Chantilly, Virginia, USA. As of today, 131 participants from 21 countries have confirmed their attendance. As ever, a diverse group of political leaders and experts from industry, finance, academia and the media has been invited.
    The key topics for discussion this year include:
    The Trump Administration: A progress report
    Trans-Atlantic relations: options and scenarios
    The Trans-Atlantic defence alliance: bullets, bytes and bucks
    The direction of the EU
    Can globalisation be slowed down?
    Jobs, income and unrealised expectations
    The war on information
    Why is populism growing?
    Russia in the international order
    The Near East
    Nuclear proliferation
    China
    Current events
    Founded in 1954, the Bilderberg Meeting is an annual conference designed to foster dialogue between Europe and North America. Every year, between 120-140 political leaders and experts from industry, finance, academia and the media are invited to take part in the conference. About two thirds of the participants come from Europe and the rest from North America; approximately a quarter from politics and government and the rest from other fields.
    The conference is a forum for informal discussions about major issues facing the world. The meetings are held under the Chatham House Rule, which states that participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s) nor any other participant may be revealed.
    Thanks to the private nature of the meeting, the participants are not bound by the conventions of their office or by pre-agreed positions. As such, they can take time to listen, reflect and gather insights. There is no desired outcome, no minutes are taken and no report is written. Furthermore, no resolutions are proposed, no votes are taken, and no policy statements are issued.

  • socalbeachdude

    CRAZED HELLERY GOES TOTALLY WHACKADOODLE!!!

    Hillary launches astonishing conspiracy claim that Trump won the election because he ‘colluded’ with 1,000 Russian agents who filled Facebook with ‘lies’ and Twitter with ‘bots’

    Hillary Clinton launched an all-out assault on Donald Trump Wednesday, claiming he must have ‘guided’ Russian efforts to keep her out of the White House. Openly saying that she believed he had ‘colluded’ with Russia, she made an astonishing series of claims about the presidential election, including claiming that the ‘vast majority’ of news about her on Facebook was ‘fake’.

    She even cited ‘Pizzagate’, claiming that claims she was involved in a child sex-trafficking network in a Washington D.C. restaurant had helped swing ‘low information voters’. Clinton spoke at a tech conference in Silicon Valley to an audience which applauded repeatedly as she outlined her allegations against Trump – a man she described as having a ‘visceral grasp on America’s political underbelly’. The question and answer session is her latest return to public life after her defeat

    http://www.dailymail.co.uk/news/article-4560344/Hillary-Trump-colluded-Russia-create-fake-news.html

  • Richard O. Mann

    When this crash and burn happens, I expect to see full blown civil war break out in the US.

    • socalbeachdude

      Why would there be an disruption at all in the US? The only ones that will really be hurt are the TOP 1% as the bottom 50% have no stocks or other assets and won’t be hurt at all by any asset price crashes which are coming.

  • PocoPete

    Yes. The US Dollar is on its last legs. The panic as people try to get out of dollar denominated assets will send the price of gold to several times its current price.

    • socalbeachdude

      The US dollar will continue to soar on the DXY and go up tremendously in purchasing power against all commodities including stuff like gold just as it has been doing for the past 6 years. There is no currency that can ever even begin to compete with the US dollar and it is used in more than 83% of all global transactions.

  • socalbeachdude

    What utterly bogus and stupid nonsense.

    • Trump 2020

      The Truth Hurts. Deal With It.

      • socalbeachdude

        The US dollar is by far the single most important currency in the world and is used in more than 83% of global transactions and has gone up about 20% in value on the DXY over the past 3 years and will continue to rise as the GLOBAL DEFLATIONARY SPIRAL in commodities and other goods intensifies.

  • socalbeachdude

    Yep, and what the Federal Reserve did with QE had NOTHING WHATSOEVER to do with interest rates or bubbles but rather involved exactly what I clearly stated.

    THE PURPOSES OF THE FEDERAL RESERVE’S QE

    There were 3 reasons for the Federal Reserve version of QE.

    First, it was essentially a charade to make it look like the Federal Reserve was doing all it could to “stimulate” the economy and provide a “wealth effect” to try to lift economic activity and asset prices.

    Second, and much more important in reality, the primary purpose of QE was TO CREATE A LARGE LIQUIDITY POOL OF EXCESS RESERVES OWNED BY THE BANKS AT THE FEDERAL RESERVE so that the banks would not have to sell off assets such as securities at fire sale prices in the next financial crises, panics, and shocks but rather could turn to that liquidity pool at the Federal Reserve to clear transactions, particularly from bad derivatives plays.

    Third, QE lowered the government interest on its massive then $19.5 trillion debt because the Federal Reserve increased its holdings of US Treasuries to around $2.5 trillion making the interest on those ESSENTIALLY FREE to the US government because the Federal Reserve operates as a NOT-FOR-PROFIT entity and rebates 100% of its annual profits each year to the US Treasury after paying a modest 6% annual dividend to its member bank shareholders.

    That mission has now been fully accomplished with a LIQUIDITY POOL OF $2.5+ TRILLION in the excess reserves of the banks at the Federal Reserve which will act as a cushion in the next series of crises. Which, I might add, are now HERE and rapidly worsening.

  • socalbeachdude

    Hopefully, he has learned a whole lot since that article was written 7 years ago!

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