You're now on the archive server. Commenting has been disabled.
Presented without commentary.
hat tip Paul
"Cash should be reduced": Meaning that much amount of cash that the predators can get their hands on by trickery, HFTs and outright corruption. Why not
Anonymous said it all!
Dennis Kneale reminds me of Lenny from "Of Mice and Men". His constant nonsensical blathering is begging for him to be told about the rabbits again. The hack job he did against bloggers was deliberate, and utterly disgraceful, in fact it was so blatant he didn't even do a good job at that. Won't take any one in a fair face off. Just another dime a dozen jack offs to be casually ignored and dismissed every time he opens his trap, much like the entire network.
Obviously, I agree :)
dk = beeker meets buddy holly.
we should start an over/under on how long into his show it takes for him to mention the cowardly bloggers. tonight, i think it was less than a minute. better yet, make it a drinking game. we take a sip every time he mentions them/us. it was comical how he was gloating that ml supports his end-of-recession call. if ml were good at what they do, they'd still be in business (as an independent company). i also got a kick out of one of the "debates" tonight. it pitted one bear versus three bulls, himself included. ya gotta love the unbiased journalism.
Shuck and Jive - Pump and dump. Draw 'em all in for the slaughter.
Dave Rosenberg is not even gone a month and they do a 180. Stick with Dave's direction, it's still the correct one.
I still wonder, given David Rosenberg's well known points of view, if his departure was voluntary or involuntary. I know what was stated by BAC/ML. But I'd love to know if the stated version is the truth.
And remember, it's not only Rosy. This asset allocation report - which I believe is the flagship opinion piece for the Thundering Herd - used to be produced by Rich Bernstein, whose departure was announced on the same day as Rosenberg's. Previous titles included bullish stuff such as "Sell financials on strength".
Just connect the dots now.
I think Kneale just came (live on tv) holding this report up.
Dennis the idiot was just on Power Lunch holding this exact report. He was smiling and yapping like a Chessy Cat. He said he will be discussing this paper (which he claimed he gave for free, while Leyman clients payed dearly for) tonight on his show.
Good for you Dennis. You have as much credibility as a turd. I would rather watch reruns of The Three Stooges than your pathetic ass.
Many of these analysts who are calling an end to the recession don't really live in the real world. They spend their days in some plush office in NYC studying numbers and statistics. I'm "on the ground" in central Illinois, and from what I can see, the recession hasn't even started. John Q. Public is still driving a late-model SUV with more bells and whistles than an F-16, has all the newest iCrap, and there's still an hour-long wait to get into the Olive Gardens and Longhorn Steakhouses on the weekends. This recession is very much in its early stages.
Dennis Kneale is an analyst? I thought he was an editor?
Wait, pardon my obtuseness. You were referring to the author of the BAC/ML report.
I'm on the ground in Ohio and its not too pretty here. A couple of examples. To the north of me is Lake Erie, home of Put-in-Bay and Cedar Point. On the weekend of July 4th, usually a huge weekend at the lake, it was a slow as I have ever seen it.
On Friday, the 3rd, the better half and myself made the 30 minute drive to Port Clinton, which is where the Jet Express leaves to take people to Put-in-Bay. We parked right in front of a resturaunt that would normally be full on a Friday night, only to find empty tables throughtout the place. We drove around after dinner and found the town to be dead. Never saw it so bad, and I have lived here my whole life.
After getting home, I spun up the live webcams of the Beer Barrel Saloon on the island. Largest bar in the world so they say. With a band playing, a Friday night (checked again on Saturday and it was the same thing) there were 2 people sitting at the bar, and I counted 12 people in the large room where the band was playing. Incredible.
The live cams at Cedar Point showed the same thing - very few people. On a July 4th weekend no less. Not so good here I'm afraid. Green shoots are either weeds or something to smoke.
I asked the checkout girl at Wal-Mart "how's business" this past weekend. After eyeing me up for a moment, trying to ascertain if I was a threat of some sort, and then, deciding I was not, she replied, "lately, very slow, except for food. They ain't buying much else." Looked that way to me too.
Architect friend came over last night for a beer and to ask me who he should be talking to, because there didn't seem to be any business anywhere. "It's getting scary, y'know?"
Goldman: Keep singing Keep on Rockin in The Free World. I hope their guards are heavily armed in case a few folks out here in RealAmerica put two and two together one of these days.
I am really tempted to email those two idiots and ask them what space-time continuum they are writing from.
My WalMart excursion was west of Philly. Real estate sales here very slow, car dealers in slow motion collapse, other industries just completely hunkered down. Surviving but not thriving might be a way to put it. Only banks that are relevant are local/regionals, all others MIA. Our theory is we were never crazy high, we shouldn't go crazy low.
I am astonished that i turned on the DK show tonight, and in the end, he had his anti-ode to bloggerville in which he gave his profound response as "up-yours". At that moment, i felt completely had...shame on me for getting sucked in.
Dennis if you are reading: you will have to answer on judgement day (or so some say) for being a complete immature idiot liar! And by the way, i hope the NASD takes a look at your math; you are completely misleading people on your 300 year analogy!!! And to think of all the poor fools who will listen to you and go jump in feet first into equities--how can you sleep at night!
It's getting bad here on the "Gold Coast" too.
The stores are close to empty. If people go in to a store, they are buying necessities...that's it. Very few big ticket items being purchased.
I've been noticing this for a few months now. Prior to this, I hadn't thought Conecticut was particularly affected at all.
I live close to Wilton CT, about a mile and a half from AIG FP.
Sorry, but loads of people I know are worried about their jobs, taking on greater debt or cutting down their spending. He's right on the "cut down on cash" call, though: allocate more to precious metals...
Guns and gold. Don't forget the ammo. If you can find any.
I am Chumbawamba.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
Notice on Racial Discrimination.