ZeroHedge registered its domain name on January 11, 2009, and in a hallmark contrarian moment, they sprung into existence at almost precisely the market bottom in early 2009. They have, since that time, been predicting the end of the world, and their readers (among whom I proudly count myself) have been cheering, pointlessly, all along the way. Doom is always just around the next bend.
It took a long time, but after five solid years of a centrally-planned asset surge, it seems that the readers at ZH have finally reached their breaking point. In response to this article on ZeroHedge (in which a number of prominent figures state clearly that TSWHTF in 2014), instead of receiving kudos and cheers, a veritable riot breaks out in the comments section……..
Of course, it’s easy to become consumed by the dialectics of the situation, but from where I sit, it’s rather encouraging seeing the tin-foil hat crowd signing up for the Things Will Always Go Up brigade. The one and only thing Cramer and all the other bull-clowns learned from 2008 is this: it’s important to utter “this will end badly someday” as often as possible, simply to have a good video clip to extract when the day comes that they’ll need to prove they warned the world. Nice work if you can get it.