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And For Today's Primetime Event (No, Not Santelli v Liesman): Gary Kaminsky Wipes The Floor With Mark Zandi
What is the only thing better than the neverending Liesman-Santelli Saga (7 minutes into the clip), where Rick is correct once again (check our previous observations on the huge spread between the SA and NSA U-6 number)? First runner up - David Malpass saying "I really think there is an improvement in the economy though you can't see it." But the undisputed winner is Gary Kaminsky telling administration lapdog Mark Zandi (who is trying so hard to be a shoe in for the Tim Jeethner replacement position) he is full of it (3 minutes into the clip). Luckily, a defensive Moody's "strategist" (of the same grating [sic] agency that downgraded Egypt on the Monday after the revolution) has tipped his cards:"here's an intrepid forecast for you, I'll put myself on the line. Next month, because of the weather effect we are going to get a 250k-300k print." Ok Joe Biden. And when you are proven wrong again, as usual, can everyone please relegate your worthless ramblings to the same predictive compost heap as the ADP's irrelevant private payrolls number? And of course, none of this is relevant. The economy will certainly triple dip in April just in time to set the stage for QE 3 (pardon QE 2 Lite).
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I was thinking exact same on next
month's print, Tyler. And that will be
the highest one for 2011.
Get ready for the Pravda partisans to go into overdrive to keep the sheeple grazing on pastures of ignorant bliss...
Liesman's baby picture.
http://2.bp.blogspot.com/_pClMXKikxU0/TEnoxotQhOI/AAAAAAAAAXM/s5oCLnttgA0/s1600/spaghetti-head.jpg
I don't know how to make the picture, not link, appear in the comment.
You can't. But it's such a great picture I would be honored to help.
Liesman's baby picture.
Priceless. Thanks.
http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx
http://www.mrc.org/bmi/articles/2011/Santelli_Slams_CNBC_Panelists_for_S...
I can only hope that Rick is enjoying that with his morning coffee, I know I did.
"here's an intrepid forecast for you, I'll put myself on the line. Next month, because of the weather effect we are going to get a 250k-300k print."
Put me on that line too. I'm looking for closer to 250k.
The economy will certainly triple dip in April...
You're being sarcastic here, I assume.
since you've run the numbers (rather than simply made a wild guess) what sectors will lead the job creation? i'm not trying to bait you. i'm just trying to understand what sectors will lead to a sustained recovery.
I didn't "make a wild guess" when I laid out reasons last week for an UE rate of 9%.
what sectors will lead the job creation?
Obviously, construction was weather related. We're also seeing nice rebounds in manufacturing, goods-producing jobs and retail. So add in a strong rebound in construction, assuming the weather is better, and we'll easily get to 250k.
Since one out of every ten houses are not occupied I assume you think that construction jobs will come from building prisons.
With that thought, I think we need a Hamy v. Harry cage match on ZH...
Battle of the troll twins - Winner takes all!
+ 5,000,000,000
FEMA gulags for those that fail their re-education sessions.
hw is so naive he doesn't realize his own conclusions undermine his bullish position. if job growth is flat how can the rate drop except from removing people from the rolls. ie ... a bullish u3 number results from a terrible nfp report.
Dormitories, baybee. Huge potential.
Harry will handle the interior decoration
Youve actually turned into one of the many Harry-Parodies
Hey has anyone ever noticed that the resident state cheerleaders use "we" obsessively?
Were those reasons detailing the reduction of labor force? Because that IS the reason.. 37k does NOT bring down the UE rate!..
exactly. but he's too foolish to realize it. he undermines his own position.
You know.. I wouldn't even care if he actually made and attempt at a reasonable argument.
He spews this fucking shit that doesn't even make sense.. Some of the bulls on here make some sense, a good point here and there. He's an idiot pretending to know something.. How embarrassing..
and the answer is so easy: all the bulls have to say is that the economy and the stock market are different animals. but said bulls like the wanker insist on making every contrived data point proof positive that the stock market oughta go up.
Yay! one new job for every 10k people! We're saved!
(Sherman T. Potter) Horsehockey!
(/Sherman T. Potter)
Pony Pucks!
however...if you count the vast number of former school teachers, secretaries, college students and housewives now gainfully employed in the escort industry, yes...things are looking up. BUT...the glut of new talent is driving down the prices (deflation) therefore the Ben Bernank must move with urgency to instigate QE 3 before the escort industry is forced to work for street walker wages...and lets face it...if you gotta pimp out your wife, child or sister to make ends meet...it would be nice to get top dollar for their efforts.
These CNBC shills are pathetic - they need to take some Hamy lessons.
I really honestly thought CNBsC was close to shutting down, given its average audience of about 2,437 viewers, and then I remembered it's part of General Electric, and that General Electric has a revolving line of cheap dope with the Bernank, and that the ObaMao just named Jeff Imelt to a lofty place in his Administration.
So CNBsC is the new Hope & Change Propaganda Network, OFFICIALLY, and will never shut down, even if they lose 90% of their 2,437 viewers.
It all makes sense.
p.s. - Joe Kernan or Kiernan or however your last name is spelled, you are a smug bitch. Debate us here on Zero Hedge, you giant pussy.
CNBC now belongs to comcast, no? Would truth-telling help or hurt cable subscriptions?
That's right, or at least 50% with Viacom. I forgot.
Is GE, aka "we get TARP event though we're not a bank, because we do subprime refrigerator and washing machine sales, and life insurance, too" bail-out queen, still involved?
Bubblevision bantering over fictional gubbermint numbers. I love the smell of useless in the afternoon.
Like watching monkeys at the zoo.
The monkeys are far more entertaining.
CNBC after the jobs report.
Send in the analysis monkeys.
Clean your windows ma'am?
Worked an hour, made a quarter - COUNT 'em!
All those monkeys and none of them were even humpin' each other.
naw, but the two right under the driver side door are thinking pretty hard about it...
how do I post a picture here
That does look like Simon Hobbs....
Water Works and the Electric Company are making a ugly chart, confirming high rates coming...its now going to be 10times the amount on the dice.
Cheer Up Things Aren’t Nearly As Bad As They Are Going To Be!
Did you ever get that toilet fixed? I assume you took a bleach bath afterwards.
Yep, we're still living at the end of the Golden Age of Ponzi...
Things aren't bad at all, yet.
The wheels won't fall off until Bernank's Ponzi POMO stops working...
Anecdotal data point -- our DOD business is off at least 30% this year, and today a buyer for a loyal, 20-year customer warned us that their plan for equipment purchases has been zeroed-out on orders from above. Looks like Uncle Sugar has put the brakes on military spending, and it can't be good for the economy or hiring.
And in our business, consumer discretionary, we just came off our best January in over nine years. So the consumer is still spending after the holidays and we are NOT discounting. These are full-priced items and they're willing to pay.
Hmm, I wonder which one lags, federal spending or consumer discretionary? A real head scratcher.
Looks like business is good Harry.
+ The whole lot of urinal cakes.
I wish I could post urinal cake pics, ala ode to HairyWang.
p.s. - HairyWang says his Christopher Lowell line of Urinal Cakes are selling like Hot Cakes. They have Lowell's face on them, and read "aim here."
Maybe WB7 could provide?
Anyway, how can one be running such a successful business venture and find time to troll practically every article posted on ZH?
Urinal cakes made in China...
Plastic urinal cake pan made in Taiwan...
Servicing crew made in Mexico...
But the urine is still manufactured in America.
Doing my part, 12 oz at a time.
it's Harry's back room sex toys and discount escorts business that's raking in the real bling. Lava lamps and shag carpets aren't selling as good as they used to.
So this is what HairyWang refers to when he says his consulting business of "do your curtains match your drapes" is way up for the year...
Harry, how about a line of cakes in honor of my deceased half-brother Johnny (aka Johnny Wadd).
Johnny still has a lot of fans out there. You might even have to start a 3rd shift to keep up with demand.
Holmes' brother's name was Mycroft, not Johnny.
Selling drugs on the street doesn't really count as a business Harry...
My wife's business is very consumer discretionary, and her January was horrible YoY.
Be like Hairy Wanker... Learn to lie...
It's getting caught up in a complex web of deceipt. It's not really lying it's attempts to fake it till you make it.
Odd things about sociopaths is they try to create them. Like sociopaths don't honor obligations or debts. So the sociopathic governing bodies create a system that forces you to not honor obligations or debts simply by creating a system that is so mathematically retarded and stupid that it just can't work no matter what.
It's like the MBA bankers. Telling everyone not to strategically default and then they go and strategically default on their own building mortgage.
I mean harry used to be jonny bravo and not only did he lie about several calls he made he said he was studying to be a cpa but here he's back under another name saying he works in retail.
Harry just can't "keep it real". He's always going to claim more experience or understanding than he truley possesses and he'll never see anything wrong with it.
so since you knew the rate would drop to 9% were you assuming last week that the labor participation rate would drop by 1.5 million to reach the 9%? or were your calculations based on organic job growth?
Harry's a professional troll. I have a number of friends in the construction business - all of them are on their last legs. I also have friends in the consumer discretionary/housewares business and NONE of them have seen a resurgence of business.
As I've said before Harry, I don't care about your little survey of the perma-bears, but I do believe you are making light of real pain and suffering in this country.
I also have friends in the consumer discretionary/housewares business and NONE of them have seen a resurgence of business.
Really? Because our sales were pretty much in line with every retailer that reported yesterday. Overwhelmingly they all had great Januarys as well. Odd, huh??
Not really.
If your doing so great how do you find time to blog multiple times for every post put out by ZH?
Doesn't make sense unless one is willing to consider that posting on ZH could be Harry's primary job or at least is part of his KPI in whatever place he's working.
"And in our business, consumer discretionary, we just came off our best January in over nine years. So the consumer is still spending after the holidays and we are NOT discounting. These are full-priced items and they're willing to pay."
I finally figured out what Harry's business is. Contrary to popular belief it is not dildos. Harry is in the hanging automobile air freshener business. Think about it. All makes sense now.
When the Feb. number comes in under forecasts, they'll say, "Well, February only had 28 days."
LOL +28
that was good. Santelli won't be censored.
isnt it winter every January in the Northern Hemisphere.....
Yes, and winter is expected. However, SNOW is unexpected.
Awhile back I was cleaning out my closet and found some Wall Street Journal's from after Bear but before Lehman and read through a bit of them just to see how these people could actually predict the future. Zandi came in over and over again about how he thought the job market was going to improve. Of course, we all know what actually happened.
People, the job market is structurally broken. It's not going to be fixed by money printing.
Increased mechanization among the producers, service sector jobs increasingly replaced by kiosks, even military mechanization... jobs are not coming back. The eternal growth model is done... The party is over. This is a slow bleed in some new model, birth pains coming. The "wanger" vision of recovery is analogous to agrarian pre-industrial revolution. Short on vision and long on denial. Solutions don't come from these folk. They never have, and never will.
Fucking dipshits.
There's nothing more to say about this video.
Next thing these guys will be recommending is drinking the cool aid....run Rick...run for the jungle.
As usual these spin doctors can't put 2 and 2 together. Common sense eludes them.
Oh yes they can and it's pink.
slow friday here in the trading cave so i was lying down on the couch after missing that weird spike up in corn. On Bloomberg someone said something while I was in and out of consciousness about how this report was similar to 1996 and the next report, due to the birth death adjustment or something, BLS came out with a print of +750,000. Now I do not see how that is possible but it strikes me there could be some surprise up, especially as bonds have just broken out of their consolidation to the downside. I was on the floor then (1996). One of only 2 times I saw the 30 year move limit, in that case down. The other of course was when treasury announced they were not going to issue any more 30 year treasuries (up). So while I think the debt-saturated ponzi-addled US economy cannot possibly rise above the water line (it is like the dead guy in weekend at bernies, and the Fed is Andrew McCarthy holding him up), it would be something if Mark IWannaJobInTheAdministration Zandi actually was right next month.
I would agree with Harry that the devastation is not all over the place, but certainly in enough places. Certain segments are somewhat positive; such as anything connected to Obama's cronies/contributors; specifically WS and the banksters, and for some pockets of union activity. And of course drugs and sex are fairly obviously recession proof.
So the conclusion with Harry is that he probably runs a unionized janitorial service on Wall Street that works hookers and blow on the side.
And, yet, he still finds time to jaw jaw with the little people on ZH.
LMAOF Classic ZH post, I recommend it for the hall of fame.
End the seasonal adjustment scam: year to year comparisons would make them un-necessary. Granted, not as smooth a curve, but at least honest.
leisman is the other idiot here. There will be 3 to 400,000 99ers dropping off the rolls for the next three months....Someone mentioned the 99ers, and it got lost in the cross talk, that is the unspun number here.
Seeing the gubbermint is making up numbers anyway why don't they just say unemployment has dropped to 6% in one month....the propaganda machine will come up with supporting evidence.
As far as Moodys, do they have no shame??? All the shit calls they made in the past three years and they are still passing themselves off as intellectually honest??
Picked a bad day to stop sniffing glue..
Newsflash: HOW CAN ZANDI BE TAKEN SERIOUSLY! Weather is a pussy excuse for numbers not hitting where you want Z(andi). Construction has sucked and still sucks. Why build when we have the inventory glut? Weather has nothing to do with it!
I live in the Northeast and made it to work every one of these damn storms. Z is an idiot.
My lead in 'ad' before the video started was for CNBC. LOL
Hilarious.
http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx
http://www.mrc.org/bmi/articles/2011/Santelli_Slams_CNBC_Panelists_for_S...
That hardly seemed like a floor-wiping. Pretty thin.
man, i'm so glad i haven't watched cnbs for over 2 years now. and that sack of shit Gary Kaminsky still gets airtime. not surprised... he's in good company among all the evil, lying, soul-selling whores on that show.
repeat
Santelli explained it well, the govt. and the media is running around and trying to find good news out of all the bad and telling people to ignore the bad news.
there'll be nothin you can measure anymore......LC
I stopped watching sqeekbox when Kernnut made a horrible remark about the people watching the show. Said something to the effect that they probably think LIBOR rates have something to do with LABOR rates. Very poor taste, and a person I would not be associated with, so I stopped watching the show. I do miss Rick's assessments though. I do not believe we have a free market anymore, so how can you base your rationale about something that is purely fabricated? Time to wake up and be aware of the mule.
I stopped watching sqeekbox when Kernnut made a horrible remark about the people watching the show. Said something to the effect that they probably think LIBOR rates have something to do with LABOR rates. Very poor taste, and a person I would not be associated with, so I stopped watching the show. I do miss Rick's assessments though. I do not believe we have a free market anymore, so how can you base your rationale about something that is purely fabricated? Time to wake up and be aware of the mule.
I stopped watching sqeekbox when Kernnut made a horrible remark about the people watching the show. Said something to the effect that they probably think LIBOR rates have something to do with LABOR rates. Very poor taste, and a person I would not be associated with, so I stopped watching the show. I do miss Rick's assessments though. I do not believe we have a free market anymore, so how can you base your rationale about something that is purely fabricated? Time to wake up and be aware of the mule.
Nothing unusual here. Typical clown-fest on the network. Nothing like a good old octabox to get the blood flowing in the morning. Almost as good as a nice cuppa java.
Despite market intervention/QE – natural market forces can not be stopped – only delayed.
When the market does reassert control – the reaction (the overdue correction) may be even more extreme due to that delay.
And some may erroneously refer to this as a Black Swan since it’s ‘unexpected’.
However they will be wrong because major market events can be predicted by some analysts.
http://stockmarket618.wordpress.com
Rick is a beacon of sanity!
Rick was put on a 'training course' by CNBC when he cut up a credit card live shouting "When will you do this Mr Obama?" .....shouldn't it have been Obama on the course, 'Credit Card Spending Addicts' or something?
<img src="http://media.ebaumsworld.com/picture/Hootto/SOUPNAZI.png" alt="No soup for you" title="No soup for you" width="650" height="520" />
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