The Phaserl


No Growth, No profit, No problem

from Wolf Street:

It was a historic day. Google’s market capitalization jumped by over $60 billion, enough to bail out Greece for a couple of years, and handily beating the prior single-day record of $46 billion held by Apple.

The thrilling event occurred on the news that Google’s second-quarter revenues rose 11% year-over-year – which seems like a lot in a quarter when S&P 500 revenues are expected to shrink – and “net profit” rose 17%, while net earnings per share of its class A common stock inched up a measly 1%, which sent these shares up 16%.

Or maybe it was on the news that Google finally hadn’t disappointed analysts’ expectations. Or rather, that they’d finally lowered their expectations enough to where Google could exceed them.

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1 comment to No Growth, No profit, No problem

  • rich

    The Second Coming Of Gold

    I am re-printing a reader comment verbatim because it’s one of the clearest explanations I have ever read explaining why the western Central Banks and Governments are attacking the price of gold right now. It’s also just really well-written!

    I will point out that, although not obvious on the surface, the “flock” is losing faith in the dollar out of a desperation that has been imposed upon them by the elitists unwittingly. When the history books are written on this period of time, what is occurring now will be explained as an unintended consequence of pure evil seeded in hubris. Hillary Clinton is the poster-child for this. I will elaborate on why I say the “flock” is being forced into “fleeing” later.

    Here is “Zen’s” explanation for the historically unprecedented intervention in the gold market:

    The entire Western financial system could be likened to a church and the dollar a religion built on a firm foundation of faith. Nothing more. It survives and thrives so long as the community of faithful continue to believe in the almighty dollar story and the higher power that prints it.

    There are some big holes in the almighty dollar story and many vocal naysayers claiming that the dollar is not real, the religion is a fraud, and the church is corrupt, but nothing yet has surfaced to cause the flock to doubt their faith, as a result the dollar remains sacrosanct and is still worshiped by the masses. Consequently the high priests continue to preach the gospel according to Keynes, attract more believers, and the almighty dollar remains inviolate.

    However, if evidence where to surface that the religion is a fraud and the dollar not real– that it is, in fact, only paper and ink, therefore has no intrinsic value whatsoever, the high priests of finance and the pressmen at the print shop would go out of business literally overnight, the dollar would fall from its privileged perch, and the flock of parishioners would become become so disillusioned that they would quit the church. No doubt some people would seek out a new church and many would become atheists, however most would turn to gold for their salvation.

    The high priests and priestess of finance are well aware this fact, therefore they see their #1 job to protect the sanctity of the almighty dollar story at all costs –for the entire dollar religion depends on it. Anything that threatens the dollar threatens the church, and hence is a threat to their power and privilege. This cannot be allowed to happen.

    Gold represents the major threat to the dollar not because it is competition for the dollar but because it contradicts the entire dollar narrative, bringing into question not only the church leadership, but in truth, the entire dollar religion. Gold therefore is antithetical to the dollar and is the antithesis of everything it stands for. You could say, gold is the anti-dollar.

    it’s all fraud all the time…………..

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