{"id":16408,"date":"2016-01-13T07:46:10","date_gmt":"2016-01-13T12:46:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16408"},"modified":"2016-01-13T07:46:10","modified_gmt":"2016-01-13T12:46:10","slug":"billary-buddy-marc-lasrys-last-rodeo-the-jig-is-up-on-25-years-of-bottom-fisher-bailouts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16408","title":{"rendered":"Billary Buddy Marc Lasry\u2019s Last Rodeo\u2014\u2014The Jig Is Up On 25 Years Of Bottom Fisher Bailouts"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/billary-buddy-marc-lasrys-last-rodeo-the-jig-is-up-on-25-years-of-bottom-fisher-bailouts\/\" target=\"_blank\">Billary Buddy Marc Lasry\u2019s Last Rodeo\u2014\u2014The Jig Is Up On 25 Years Of Bottom Fisher Bailouts<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<div class=\"pf-content\">\n<p>As the Fed\u2019s third and last bubble of this century heads for its splatter spot, the stench of desperate crony capitalism fills the air. You can count hedge fund mogul and Billary Buddy, Marc Lasry, among the upchucking financiers.<\/p>\n<p>A few months\u00a0back I heard\u00a0him say on bubble vision that energy debt\u00a0was a \u201conce in a lifetime opportunity\u201d. My\u00a0thought was good luck with that, but even better luck to your investors\u2014\u2013who will\u00a0need to get out of Dodge fast.<\/p>\n<p><em><strong>The truth is,\u00a0Lasry had it upsidedown.\u00a0Energy prices over the last\u00a015 years were carried skyward by a\u00a0once\u00a0in a lifetime\u00a0central bank driven credit\u00a0explosion.<\/strong><\/em>\u00a0The latter\u00a0fueled a surge of phony demand and a\u00a0tidal wave of\u00a0malinvestment\u2014\u2014not only in oil and gas, but practically everything else in the material and manufacturing economy of the world.<\/p>\n<p>The reason that 2016 will prove to be a great historical inflection point is that the central banks of the\u00a0world\u00a0have finally run out of dry powder.\u00a0After a 20 year spree in which their balance sheets exploded by nearly\u00a011X\u2014\u2013from $2\u00a0trillion to\u00a0$21 trillion\u2014-they are being forced to shutdown their printing presses.<\/p>\n<p>China has been\u00a0obliged\u00a0to stop because it has been slammed with\u00a0a $1 trillion capital flight in the last year, and it\u2019s accelerating.\u00a0The BOJ and the ECB have already shot their wad and it\u2019s done no good at all. The Fed spent 84 months dithering on the zero bound and now it\u00a0has no dry powder left as the US economy slides into recession.<\/p>\n<p>Accordingly, the\u00a0great global credit bubble has finally\u00a0run out of new central bank fuel. It has now surely\u00a0reached its apogee at about $225 trillion compared to only $40 trillion back\u00a0in 1994 when oil prices were still\u00a0well under $20 per barrel.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Billary Buddy Marc Lasry\u2019s Last Rodeo\u2014\u2014The Jig Is Up On 25 Years Of Bottom Fisher Bailouts As the Fed\u2019s third and last bubble of this century heads for its splatter spot, the stench of desperate crony capitalism fills the air. You can count hedge fund mogul and Billary Buddy, Marc Lasry, among the upchucking financiers. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2291,57,11669,85,130,5979,182,2120,233,2488,282,303,305,11670,11368],"class_list":["post-16408","post","type-post","status-publish","format-standard","hentry","category-economics","tag-2291","tag-bank-of-japan","tag-billary-buddy","tag-boj","tag-china","tag-contracorner","tag-crony-capitalism","tag-david-stockman","tag-ecb","tag-energy-prices","tag-european-central-bank","tag-fed","tag-federal-reserve","tag-marc-lasry","tag-red-ponzi"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16408"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16408\/revisions"}],"predecessor-version":[{"id":16409,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16408\/revisions\/16409"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}