The Big Picture has an amusing translation guide for those of us not versed in the language of the Permabear.

A few selected highlights below, full list can be found here :

Bonds: An asset class that will eventually be worthless paper as its value is inflated away, but in the meantime, are a good alternative to equities.

Bubble: A catchall phrase used to describe any market not in freefall.

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European Union (EU): A soon to be dissolved association of Socialist states, whose sole purpose is to mislead investors into believing the United States is (comparatively) fiscally responsible. See also EuroFASB: A criminal legal enterprise of accountants whose members help banks hide massive losses;

Fiat Currency: The root of all evil

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Greenspan, Alan: Lucifer

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Money Supply: ∞, an imaginary number.

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Overbought: The normal state of equity markets;

Oversold: A theoretical market condition last seen in 1982.

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QE 2: A code word or shorthand for the event that has been prophesied to bring about the End of the World. Interchangeable with “Apocalypse” as Perma-bears regard both its coming and its destructive power as a quasi-religious inevitability.

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Subprime: The state of all credit in the US

There are also these two which are my favourite ones, especially the last one :

Rosenberg, David: A minor deity amongst the Perma-bear faithful. The very mention of his name causes a reverential hush to fall over the gathered masses as they hungrily devour his latest proclamations of death and dismemberment. See also Roubini, Faber, Rogers, Cassandra, et. al.

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Unemployment: An irreversible condition, symptomatic of declining empires. Hence the reason no one in Great Britain ever found a job again after the 1830′s.

Now I finally understand why the UK is a grim place to be!