From the director of "Step Brothers", it's the entertaining story of how giving NINJA loans to illegal immigrants to buy McMansions, while Wall Street profited - cost millions of people their homes and families. A comedy to infotain a crass and cynical Idiocracy too busy watching American Idolatry to know what the fuck is going on in the real world. In other words, seven years later and nothing has changed...
2008 was known on Wall Street as "The Big Short", which I wrote about here: "Ayn Rand Gone Wild". When well-connected insiders bet against the subprime housing bubble using massively leveraged "synthetic" derivatives and almost brought down the entire financial system. In the event, the U.S. Treasury used taxpayer money to bail them out 100 cents on the dollar on their bets against taxpayers. Now they're making a fucking movie about it. Of course they've completely inverted the story-line to be a david v.s. goliath bullshit story. Four outsiders didn't "take on the big banks" - they figured out how best to monetize subprime and then used Goldman Sachs as prime broker. Then Goldman saw what they were doing and jumped on the bandwagon with 100x leverage until they blew up AIG. Hollywood is full of good looking mannekins who couldn't tell the plain truth if their lives depended on it.
Fast forward seven years and Occupy Wall Street will have the last laugh. Because unlike 2008, the theme of this current debacle is the Big short squeeze. Instead of betting against this latent disaster, Central Banks have systematically crowded Wall Street into a one-way bet on the indefinite status quo aka. "low volatility".
The Big Long: Someone didn't get the memo this is all ending...
Bets against volatility were working great until the Yuan devaluation, but as we see from volume, the trade is still on in size...
Inverse Volatility ETF:
Which puts this into perspective:
Barron's Oct. 17, 2015
"What bear market? America's money managers have grown more bullish since the summer swoon...Our latest survey finds 55% of managers bullish, and 16% bearish."
The Etraders have been monetized. There is only one set of muppets left. And of course the sheeple who trust them with their money.
"Keep laughing, bitchez. You're almost done."
