Sunday, February 5, 2017

Welcome to the new conservatism: Deutsche Bank makes grand public apology.

Deutsche Bank has taken out full pages ads in Germany's largest newspaper to apologize for "serious errors" the cost the bank money, reputation and trust.  The new CEO has blamed the misconduct of a few employees for all of the problems and promises that these events will not happen again.  You might think it strange coming from me since I rail on the banks so heavily but I believe him. 

It's not that Cryan is some saint or anything.  It's simply that behaving badly has now entered into the quadrant of diminishing returns.  It is costing more to behave badly than the bad behavior was bringing in.  And banks don't like to lose money.  Its just that simple.  Does this means that Deutsche bank is now going to prosper?  No, of course not.  The bank grew to its current size based on outsized revenue from corrupt operations and as those are wound down you will see the bank have to downsize in locked step.  Those corrupt operations which allowed Deutsche bank to get so big are no longer going to be there to puff up Ponzi Profits.  And so the bank is going to have to go through some painful deflation before it gets back to sustainable operations.  But the apology is clear evidence that the bank is going to do just that.

Why?  Simply, because it is a liberal quality to never admit fault.  They pay a penalty without admitting guilt because they are never really sorry for their misguided actions. True conservatives are quick to acknowledge their mistakes and then they work to actually not repeat them.  Conservatism is being shoved down Deutsche Banks throat by all the lawsuits and fines they have had to pay.  "Crime doesn't pay" is a conservative concept.  Crime has been paying off like crazy during the last 50 years of liberal lean at the global level.  This highly public admission of guilt by Deutsche bank is sending shockwaves across the bankster community.  They now see that the herd is changing direction.  The laundering of drug money for the drug cartels will collapse.  The financing of gun running operations and all other categories of organized crime will collapse.  These are just the kinds of signs I have been expecting to see.

The global debt Ponzi is now losing its energy source which was the banks and their funny money operations.  Those things which got pumped up during the pump will get screwed during the dump.  Bye bye military industrial complex, your funding source is drying up.

Yeah yeah, I know it sounds ridiculous.  Probably as ridiculous as when I wrote that Hillary wouldn't win and my models said it shouldn't even be close.  But it is not ridiculous and the Elliott wave count is with me on this.  Those who don't understand the cyclic nature of things always think that the current trend will go on forever, trees will grow to reach the sky, etc. They will just write me off as a loon.  So be it, but I like my odds.

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