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Former S.A.C. "Portfolio Manager" Ron Insana Is Back... And He Appears To Be Pissed
This one was just too hilarious to pass by without presenting. It was in fact hilarious enough that it could be presented a la carte without spoiling it by actually commenting on what the CNBC "contributor" had to say...Which means: open season for ZH readers. Take it away.
What the Doomsayers Don't Say to You, posted originally on HuffPo where Ronnie is baaaack.
Friday's report
on the nation's unemployment situation had a little for the bulls and a
little for the bears, when it comes to this nation's economic outlook
for 2011. While the unemployment rate plunged in December to 9.4 percent
from 9.8 percent, only half of the improvement came from Americans
finding new jobs. The other half of the improvement came from
discouraged workers exiting the labor force, which has the perverse
impact of reducing the unemployment rate.
(It's a quirk of the strange calculus that goes into divining the nation's unemployment statistics.)
Only 103,000 new jobs were added to payrolls last month, well below
market expectations and below the 150-200,000 jobs needed to keep up
with population growth and growth in the labor force.
Indeed, Federal Reserve Chairman, Ben Bernanke, in testimony before a
Senate committee, acknowledged that it could be four to five years
before the labor markets return to "normal."
"Normal," as measured in historic terms, implies a 5-6 percent
unemployment rate. There are some who suggest that our labor force never
will return to "normal." But that view is unnecessarily pessimistic and
belies the improvements being seen in the economy, each and every day.
By the way, a quick return to "normal" would imply that the economy
would add about 600,000 jobs a month for over a year, which it rarely,
if ever, has done. Absent such an immediate and stunning improvement in
job creation, there is virtually no way the unemployment rate could get
back to "normal" in less than a few years, under even the most
optimistic scenario.
That does not mean we can't, or won't, see meaningful improvement in
the labor market in the months, and years, to come, that will be felt by
all.
Many on Wall Street and many, many more on Main Street, were
understandably discouraged by the December report and the Fed chief's
comments, as one might expect, given the grudging improvement in the
jobs picture, even as enormous piles of cash build up on bank balance
sheets and in corporate coffers.
But this worry about the economy is beyond misplaced, in my view.
After a serious recession like the one we have just experienced, borne
of an economy gone wild, it is a miracle that we have recovered as much
lost ground as we have, compared to the alternative scenario many of us
were contemplating only two short years ago.
Yet, there remain countless doomsayers who suggest that another, even
more serious crisis, is just around the corner. Citing the possibility
of a renewed credit collapse in Europe, a series of municipal
bankruptcies here in the U.S., or another leg down in the housing
market, they say we are just days, weeks, or months away from that
dreaded "double-dip," or another downturn that will make the first phase
of the "Great Recession" feel like a walk in the park.
My good friends, economist, Nouriel Roubini; author and investor,
Nassim Taleb; hedge fund manager, Doug Kass; and banking analyst,
Meredith Whitney, all repeat a mantra that remains in vogue among the
gloom and doom jet-setters.
They claim that we are being falsely encouraged by recent economic
statistics that create an illusion of recovery that is either being
borrowed from future prosperity, or is the very temporary result of
"recession fatigue," a condition that I never before have encountered.
In short, and for a variety of under-discussed reasons, they are flat-out wrong.
Few of the naysayers have bothered to incorporate into their overly
pessimistic assumptions some truly miraculous developments that have
taken place since Ben Bernanke's "great intervention," which prevented
us from experiencing a catastrophic 1930s-style depression, or a
protracted, Japanese-style stagnation.
Unlike those prior periods, the U.S. economy already has recovered ALL of the lost output since the start of the Great Recession.
- Third-quarter GDP stood at a record 14.7 trillion, eclipsing the peak hit in the third quarter of 2008.
- Retail and food sales, which surged 5.5
percent over the holidays, now stand at1.12 trillion, according to the
Commerce Department -- just under the1.17 trillion peak hit in the 4th
quarter of 2007.
- Consumers have driven down indebtedness, and
added to their savings. The savings rate has jumped to 5.3 percent,
while household debt-service burdens have been cut by228 billion.
- Auto sales are running at a 12.5-million-unit
rate which, while below the 17-million-unit peak at the height of the
economic recovery, is still three million more vehicles being sold than
at the trough of the recession.
- Household net worth, after collapsing by a
staggering17.5 trillion from 2007-2009, has rebounded sharply in the
last several quarters... by nearly6 trillion, not a trivial sum. It
remains well below its historic highs, but has improved significantly
and likely will continue to improve over the next several years.
The statistics mentioned speak for themselves. In addition, market-based
indicators, from stock prices to interest rates and commodity prices
are, in tandem, forecasting improving future growth, not a return to
recession. These indicators, when flashing the same signals
simultaneously, rarely have delivered an errant forecast.
While many remain deeply concerned about the fragility of what might
be the start of a self-sustaining economic recovery, there is real
reason for optimism that, indeed, a true and lasting recovery is
underway.
As I return to blogging for The Huffington Post, I despair over a
political environment which has led us down a path that now goes beyond
partisan politics, as of this past weekend, to one of a clear and
present danger.
I also worry that far too many voices continue to prey on the
financial fears of a society that has seen more than its share of
problems and pain.
And, while I often have been described as a Cassandra, and rarely a
Pollyanna, for the first time in many years, I see reason to rejoice in
an economic recovery that, while uneven, appears to be gaining strength
and durability every day.
If only our political situation would improve as much as our economic
condition, I would hold even greater hope that happy days are, indeed,
here again.
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i have yet to see ron insana right about anything
Didn't his hedge fund fail once or twice.
Do the opposite of what he does.
the only good thing is he reminds me of danny devito.
http://www.youtube.com/watch?v=ce5D1VF4STo
David Schuster
porky pig also.
I remember how much he hated Ted David back in the day, not sure why but he seemed obsessed with it.
Ted david got fed up w/ the wall street bankster crap and went to work on his tan.
here is a quote from Ted David about CNBS
“In the beginning, it was very forthright and honest. Unfortunately, these networks decided [toward the end of my tenure] to start taking a position that it’s good for the markets to go up and bad for the markets to go down,” David reflected. “… People started putting on pom-poms and became cheerleaders, rooting for the market to go up... and looking wan and dejected when it was down. That’s not the way to cover news, as far as I’m concerned.”
That's beautiful. My lips are quivering. I think it's why Ted's mother didn't name him Jones.
Ron is the Suze Orman of hedge fund managers.
Saw Ted shopping at Stew Leonard's in Norwalk a while back. The tan preceeded him.
Not fair to Mr. Devito! He is trying to be funny.
more delightful joo comedians covering for their murderous sect.
Wife thinks he looks like Morocco Mole...
http://www.comicartcollective.com/detail.cfm?page=2ED240CB-3048-77F0-119...
And yes this would mean that back in the day Joe Kernen was Secret Squirrel.
Ron fears a world where he will be judged solely based upon performance.
.. or one in which we apply critical thought:
(Thanks only to unsustainable deficit spending).
(Increasing food sales in nominal dollar terms is nothing other than a very bad omen. This is not a measure of consumption. It is a measure of consumer price inflation on staples. Witness the global food riots: http://www.businessinsider.com/food-riots-worldwide-2011-1 ).
(So wait... is consumer spending good? Or is consumer saving good? I'm so confused. I dare you to clarify the difference between a "decrease in household debt-service" and "credit collapse". Because a credit collapse is both deflationary and antithetical to "recovery").
("Yes, we're up to our necks in warm shit. But this shit could smell worse")
(So we were down a cataclysmic $17.5T, and now we're back up a measly $6T. So since 2007 we're down a devastating $11.5 trillion, and only back up slightly because of a historically unpredented increase in national debt, and debasement of the currency. In total, US household net worth is down a crippling average of $2.875 trillion per year over the past 4 years. What's your point again? That economies don't move in straight lines?)
I'm feeling slightly embarrased for Ron. He should go and spend some time in the country.
http://www.bbc.co.uk/news/business-12149340
Bangladeshi police have used tear gas and water cannon against angry investors after the stock market incurred huge losses.
Trading on the Dhaka Stock Exchange index was halted after it fell by 660 points, or 9.25%, in less than an hour.
It was the biggest one-day fall in its 55-year history.
Bangladesh stocks rise after fall prompts protests
http://www.independent.co.uk/news/business/news/bangladesh-stocks-rise-after-fall-prompts-protests-2181507.html
Many investors in the Bangladesh's Dhaka and Chittagong exchanges are individuals with modest means who have taken out large loans to invest in shares to improve living standards.
That gain in third quarter GDP is also measured in that funny little worthless paper green thing called the US dollar. How much has the dollar devalued over that year that pop-pom Ron in referring too?
The bloggist equivalent of Jim Cramer...
This cunt was recently the keynote speaker at the event for the American Bankers Association at the Waldorf Astoria. I could have found a way in to hearing him speak but I chose to stay at work and thrust a small pen knife repeatedly into my inner thigh. It was much less painless than listening to this cunt speak.
I apologize to all of the cunts I may have offended. "Keynote speaker"! What the fuck?
A+...so you enjoyed the movie "Secretary"?????
Was that the porno with the double-jointed midget that did shorthand using her anus? If not, then I am not familiar with it.
Ok, that is some funny shite
I enjoyed the movie. No one alive can pronounce the actress' name
Maggie...pronounced "MA-gee." But you have to know her. If you don't, try "Ms. Jake's sister." I'm sure that'll go over great.
But forget the kids and check out dad's movie w/Billy Bob and Hank. Well worth it.
It's the only film of its type of the past 30 years, at least.
True that, although I humbly suggest that let this cunt speak for all its worth, as it is virtually impossible to find a contrarian indicator better than Ronnie Insaneana.
The Internet and the blogosphere are responsible for undoing decades and decades of social engineering within a matter of a few short years. This is why the control freaks and our overlords hate the Internet so much. I am enjoying watching it happen in real time. Making control freaks and overlords heads explode is my favorite pastime.
Someone should do a comprehensive article on this topic.
Try the Daily Bell.
Indeed. In fact let me make it easy for you:
http://www.thedailybell.com/
The Internet and the blogosphere are responsible for undoing decades and decades of social engineering within a matter of a few short years. This is why the control freaks and our overlords hate the Internet so much.
This.
It's true.
They will try to negate truly unrestricted expression and communication on the internet, as it is the only true threat to their web of deception and propaganda, and it's something they never envisioned or foresaw, in all of their planning/strategy/thinktank sessions.
In fact, how many tens of thousands, hundreds of thousands, or even millions of people would have known what POMO, QE, TALF, TARP, Maiden Lane or Fractional Reserve Banking are, or who William Dudley, Brian Sacks, Steven Cohen, Blythe Masters, Max Keiser, Jim Sinclair or a plethora of other people are, without the truly democratic technology of nearly unfettered freedom of expression, speech and debate found on the internet, where people thousands of miles apart can communicate in real time?
They will try to shut it down or to restrict it heavily.
Guard it with zeal, protect it and safeguard it: If it is allowed to be restricted in any meaningful way, chances of obtaining real knowledge and truth about particularly critical things and events will be lost forever.
This development is a tool of the upmost importance. They will try with all their might to destroy it, in order to preserve their corrupt oligarchy.
"and it's something they never envisioned or foresaw, in all of their planning/strategy/thinktank sessions."
Very perceptive of you. They never saw it coming, ever.
I like to think about all the money they invested in buying up every major news agency in the world to spread their propaganda, and watching all that investment being rendered worthless by the Internet and the blogosphere.
Thats why we see the God Damn government hate-speeching the intranetz,Wikileaks false flag terror and stux net virus and all the other false-flag crud,trying to legislate the net,and create internet 2.If theres no internet,you will never get any real information or news,let alone Max Keiser or Alex Jones,etc.If this gets passed,I (and all free men)must hope there will be an underground internet.
Max Keiser -- who is he? Superficially he appears to be a commentator on a Russian TV channel who promotes the financial collapse of the USA. Not that it needs promoting, but who is the guy?
Michael & TruthinSunshine -
Very well said and completely true. They think they have won again and have control.
This time they are wrong....
EPIC FAILURE is at hand..........
+10
This is a red pill, blue pill situation.
The potency of the potion inside the pills have a fundamental impact on "reality" for the person taking it.
If he's posting at Huff Po he has a political agenda and that would be to cheerlead the economy, irrespective of the facts, that is represented by the Democrat White House
Huff Po has been linked to George Soros, the Rothchilds' errand boy.
He has failed by himself twice, I think. He is desperate for a Job anyswhere since he left CNBC who says: No Thanks.
dd
Why the Method for Figuring the Unemployment Rate Was Changed
Bill Clinton was interested in legacies early on in his presidency. By changing the official unemployment formula to sweep away the so called discouraged workers, he attained a record low unemployment level not seen in decades. The reason for his changing the official unemployment calculation formula had a lot to do with “the economy stupid,” as he was fond of saying. He wanted the numbers to look better than they actually were.
Bill Clinton's other atrocities include;
Signing NAFTA
Repeal of Glass-Steagall
Executive Orders mandating Agenda 21 (Sustainable Development)
Al Gore
And they love him for it. I don't get it.
Really, you do Bill an injustice to omit his initiation of the Extraordinary Rendition program, Michael.
Give the guy a break. If you lived with Hillary for 30 years you would be doing some freaky shit, too.
So for that he lusted for Kathleen Willey?
Because of this contingency, I specifically forbade myself to choose a wife from lawschool.
Don't forget Waco and Rwanda, his deft handling of those two dot the i and cross the t.
"Fortunately, Bill Clinton had the courage to defy the United Nations in 1995 and act to bomb the Bosnian Serbs (with NATO cooperation and sponsorship). Then he had the foresight to send in U.S. peacekeeping forces, a deeply unpopular step."
All we know how to do is bomb the shit out of them. And you wonder why the rest of the world hates us.
Your insight on this point is very welcomed by myself.
And.......
He refused to sign the international treaty banning the manufacture and deployment of anti-personnel landmines, joining a handful of co-relations such as N. Korea and Iran.
In fact, he even "recieved" the resignations of several of the JCoStaff subsequent to them taking the position favoring said treaty.
But repealing Glass-Stegal takes the cake.
No Marc Rich takes the cake-literally.
A friend of mine & his wife had dinner at his house a while back....along with 4 armed guards in the dining room....Guess you can't trust your neighbours these days eh!
"sweep away the so called discouraged workers"
297K in this reporting period - that's how they got the 0.4% 'improvement'
go to shadowstats.com for real economic numbers - current unemployment is about 22% using the methdology that was in place prior to all the manipulation done by Bill and others
Bill Clinton's other atrocities include;
Signing NAFTA
Repeal of Glass-Steagall
Executive Orders mandating Agenda 21 (Sustainable Development)
Al Gore
And they love him for it. I don't get it.
Michael ......... My biggest question is how did BILL CLINTON go from earning $35,000 as GOVERNOR to his present day net worth ? & a $3,000,000 wedding ! Chelsea just happens to be marrying a young man with ties to GOLDMAN ? ......... give me a break. & if he & ROBERT RUBIN hadn't suppressed the price of gold under RUBIN'S STRONG DOLLAR POLICY , there would have been BOOM TIMES in AFRICA ! ....... & YET THEY LOVE THIS GUY !
I still say he's a fucktard
I don't agree with Clinton on NAFTA but Glass-Steagall was his compromise with the right to accomplish other things. Like a booming economy. That he gets credit for, like it or not. Average Americans did better under him. That is why they loved him. Jobs and a real life for most.
But what I really see is a bigger factor. I am a independent for good reasons. If we could only win and smack both sides in a corner. I would have the dream team of Alan Grayson, Ron Paul and Bernie Sanders. Yeah Baby.
Both sides, (R or D) do things that the other side hates. Bush gave us the Patriot Act, Stolen Freedoms lost forever. Yet, no cry from the right. Bush gave us expanded Medicare, an unfunded need. But yet, no Cry from the right. Bush gave us an unfunded 10 trillion dollar war, but total Praise from the right. Why, we went to war and his party got tax breaks for the rich elite. The same tax breaks we are told that will create jobs. So, why did 8 million jobs vanish in smoke. The tax breaks did not work. It just caused the same inflation we have today. Gold went from 200 to a thousand, that's 5 times. If Obama equals Bush's deficit, I figure on 5,000 dollar gold. And when will Americans learn that the price of Gas at the Pump is function of how much the FED prints. Bush took oil from 12 a barrel to a record 147 a barrel. Hmmmmm. That's what tax breaks for the rich did to you, and the elite want more. Greed has no barrier.
Obama gave us a continued war, but did put it on the books. But no cry from the left. Obama did not end the war, yet no cry from the left. Obama said he wanted our money back from the GS Bankster Mob. But did not deliver. Yet, no cry from the left. I could go on and on.
But. Am I the only one who sees a pattern here. Who runs this back and forth. It must be from a dishonest Media, or one owned by a elite cartel. And who would fund that dishonest, brainwashing cartel. So I ask, who is the number 1 news station that all believe what they say is fact. The one station who tells people how to think. I always thought good journalism presented facts, You Decide. The one who is not even owned by a native American. The one who is controlled by an elite cartel. I delivered the question and the facts. YOU DECIDE who they are.
Then I have another thought. What if, every American had to vote. Most or almost all Americans do not vote. Huh, I say. So now I see why the media can play these simplistic games against each side. The lies and manipulation works if all the voters do not participate. As a matter of fact, the ones who care watch the show and are pitted against each other. Hence they are not focusing on the matters that really have consequences to care about. This is why most Americans are Screwed and do not get it.
Free your mind, brah.
The post looks very well thought-out from someone who's very effectively brainwashed.
The NASDAQ dotcom bubble with Fed supplied money and low margin requirements gets the credit for the booming economy under Clinton. Capitol gains taxes from the gains gets the credit for the balanced budget. Not Clinton, except in the minds of morons. The NASDAQ bubble bursting 3 months after Bush took office proves my point. I was praying at the time the NASDAQ bubble would hold off bursting till Bush got into office because Regan, a Republican, was responsible for starting the crazy deficit spending.
Please don't confuse Neo-Cons with true republicans . There were no real republicans at the time, except for Ron Paul.
P.S.
I agree with most of the stuff you wrote.
http://www.youtube.com/watch?v=YyXW1hb-JQg
So, if you are being raped but are unaware of it occurring, is it still a crime? Does mental masturbation result in orgasm? If you transcend from the desire to rape women to raping nations, does that make you President?
Ouch!
Also, whoever has the time should do a little study on the Mena Airforce base and Columbian Drug Smuggling.
Might clear things up as to how to rise to power in America.
ORI
http://aadivaahan.wordpress.com
Study Hegelian dialectic. We did not arrive at the edge of this cliff via lack of voter participation. In fact it is an intentionally dumbed down electorate that has marched lemming like to the pols cycle after cycle to support their 'team' rather than care enough for themselves and their fellow citizens to become educated on the issues and demand accountability from those they vote to place in office. Rather than engage in the work of determining the linkage between actions and consequences, en mass, the lazy and ignorant were led to vote in numbers sufficient to overwhelm those who would have preferred a different path.
For you to suggest that the perhaps 7 to 10 million viewers of Fox news are to be assigned blame for the state of this nation is a wonderful proof of my belief that far to many people vote. If you have no idea of why you are voting beyond a simpletons belief that you are supporting one team over another in some grand contest, you should not be voting at all.
Again, study Hegelian dialectic, then spend a bit of quite time pondering the last 30 years.
You forgot granting China favored-nation status and teeing up the housing bubble by allowing the Tax Relief Act to exempt the sale of primary residences from capital gains.
The question needs to be asked: Was Bill Clinton an agent for Chinese interests? We know that Clinton was a shitty American... but was he in fact working for the Chinese, and against his own country?
I think the question needs to at least be asked.
Don't forget the Telecommunications Act of 1995 and the Commodities Futures Modernization Act. But also don't forget it was a republican held Congress and the shit legislation flows uphill to the WH and then the shit is spread all over the populace.
Commodities Futures Modernization Act
I'd really like to hear an explanation from Newt on this, especially in light of a possible presidential campaign.
Republicans had nothing to do with repealing Glass-Steagall or NAFTA. I read it on the internet.
Ron, Ron, Ron. When will you ever learn? YOU'RE WRONG!!!!
I hope Ron's HuffPo writings are featured regularly on ZH. I can use the comic break now and then. But for the musings of williambanzai7 I'd be even more nutty.
LOL... The Algos got the best of him. Now it's back to financial 'news' and perma-bull commentary.
Just remember him in your heart. Yes, somewhere out there Balloon Boy is still flying in his tiny airship hoping to find tierra firma.
What the fuck?
Those are just the sorts of statistics that you would expect to receive an inflationary juicing.
What sort of madman pays this miscreant valuable fiats to scribble this drivel?
"What sort of madman pays this miscreant valuable fiats to scribble this drivel?"
I may have mistyped in my post above. This douche was the keynote speaker at the Waldorf Astoria for a recent banking conference. I can't remember if it was American Bankers or New York Bankers that paid to listen to this asshole spew forth. Last year's keynote douche bag was none other than Jamie Dimon.
Harry Wanger is allowed to post articles now?
LOL!
I wonder about the Harry Wanker sometimes - I know it's a waste of time but I still wonder
I've thought of a few things that might explain his behavior:
- he's a govt paid shill
- he's a Pollyanna
- he desperately seeks attention so even negative attention fulfills his need
- he intentionally takes the stupid side of any issue just to agitate people
- he's a fucking moron
As I said in an earlier thread, he should have more time to comment now, as he is about to leave his job as white house press secretary.
I didn't read the article b/c Ron Insana is an all around dipshit.
+1
"I didn't read the article b/c Ron Insana is an all around dipshit. "
Being awful hard on dipshits. Aren't you?
This dude is a jackass
With reckless thinking like this, its no wonder his fund collapsed.
Make ready another dose of hopium!
or dopium.
What? Was he a bad boy and needed to suck op to theelite or he was going to have his pass revoked. What a joke.
No they don't they speak for all the wealth robbed from the middle class and delivered to pay the banksters bonuses and prop up the stock markets to give jerks like you the illusion all is well. Put down the kool aide ron. You have had too much. Careful or some local cop that works for a bankrupt city is going to cite you a $500 fine for indecent verbal exposure.
$6T in recovered wealth!
How much did the FED Print again?
I will give Credit where it is due "of what might be the start of a self-sustaining economic recovery".
I hope that people dont have to suffer to greatly... I hope that people every where could be happy and honest with themselves about the facts of a lights out situation...
All of you that didnt buy Leo's solar sales pitch... looked at it wrong, buy physical solar.
Maybe you gold will shine bright enough at night to light your house???
Be safe, 1st... make money second.
Guns 1st, Food 2nd and Gold / Silver LAST! Medicine as well... before Gold... as a matter of fact, a whole fucking LOT! before Gold not mentioned.
When the Euro goes due to the change in the Party line of Ireland (or other)... things could really start down hill... and for a little while the PM's will make you rich... Hedge your bets.
Plainly, Bernake has not cut down all the trees to print yet... thusly we the dollar will be strong in a flight to safety... and if that is the case... America will end up buying China a new economy, again.
Just food for thought, dont get all mad like I told Palin to shoot that pretty woman in the face once... I would have said twice.
Good Luck, God Bless!
Looks like DIY solar would make for some fun projects too. Lots of good info on the internet about them. Hardest part looks to be making a DIY charge controller. And even that is well within most hobbyists capability. Here in Florida, my power bill is starting to look like a mortgage - so even if the S doesn't HTF in a nasty way, it still might be a great way to go. Just add in a grid-tie converter in place of the power inverter. Cool stuff.
Depending on if you are north or south FL... the heat of the panels will effect the out put...
Deep Cycle AMG Batteries... BIG, No! HUGE!! ones... lots of them...
a high voltage system, or a system that runs hot... lots of volts, aside from the watts... is a great way to offest the loss... as well as enjoy another revenue stream.
http://www.lifelinebatteries.com/index.htm
http://www.solar-electric.com/mnpv16-hv.html
I am a hobby guy, just starting out... with a 15,000 watt need. http://www.dcacpowerinverters.com/itemdesc.asp?ic=MS15G8
Turbines for night time, (evening, morning) is a super cheap way to pick up some $0.50 a watt stuff..
http://www.mwands.com/index.php?main_page=product_info&cPath=43_45&products_id=254
as for panels... cheap per watt.. I would seach for the cheapest prices.. depending on your needs.
If your starting point is beyond 10,000 watts... go 15,000.. and so on.. give yourself some room to grow.
JW
he's talking out of his ass
- employment only 'improved' because 297K people were removed from the roles of eligible workers (does anyone really believe that 297K people in the same month decided that they would never again seek a job?)
- the US economy has lost about 8 million jobs net in the past decade - and they aren't coming back anytime soon
- consumers didn't reduce their debt - the banks wrote off a bunch of bad credit card debt
- food sales are up by 5.5% - ever heard of inflation?
what a load of tripe
I smell an up day for the stock market tomorrow. Oil is soaring. That must be good. Asia is already way up on that feel good news.
Starvation + war = Buy the fucking dip
Ron Insane is a non event.
Amazing how he ignored the cause of those "improving" indicators. The FED's endless money pumping has only served to add debt and inflate commodity prices to ridiculous levels. Additionally, I recommend that he adjust Q3 GDP to reflect government spending and compare that spending against 2008 spending. I think that we have managed to add roughly $2T in debt over the period, which doesn't even factor in the Fed's money printing.
I can't believe that he actually said retail and food sales increased 5.5%. Really, food? No inflation there. Why does something tell me that he is using nominal figures within this analysis. Target comp same store sales rose a whole .9%. Best Buy, forget about that. But hey, you're paying more for eggs at the supermarket so the economy firing on all cylindars.
As far as the stock market goes, it's up because of the money printing nothing to do with the actual economy.
Complete and total denial.
Exactly,
Of course these would be nominal, not real numbers.
And those higher food prices raised nominal GDP.
Confusing inflation with economic growth is exactly the line that the Fed is selling. I can only wonder if Insana is towing the line or is really that stupid.
Midas of lemetropolecafe intimates that he is a fucktard shill...
I think I'm going to be physically ill.
What part of a negative captcha query is he having a problem with?
Must be the losing 50% and needing a 100% gain just to break even part.
That 6 trillion comeback is no trivial sum. Just ignore the 12 trillion you're still short of.
$6 trillion added to household wealth.
$5.7 trillion added to government deficit.
That is just pure awesomeness in its most awesome form.
34% recovery only cost $12 trillion in funny money printing
"34% recovery only cost $12 trillion in funny money printing"
Exactly right V.
And unfortunately they cannot print time...LOL...the time used up in just trying to regain the principle that was lost (going on two years now). Then, of course, we can't overlook the compounding of what was lost in that time period...not a word does he say about this.
Insana is typical of the half assed charlatans who try and pass themselves off as financial advisers these days.
Amazing how he ignored the cause of those "improving" indicators. The FED's endless money pumping has only served to add debt and inflate commodity prices to ridiculous levels. Additionally, I recommend that he adjust Q3 GDP to reflect government spending and compare that spending against 2008 spending. I think that we have managed to add roughly $2T in debt over the period, which doesn't even factor in the Fed's money printing.
I can't believe that he actually said retail and food sales increased 5.5%. Really, food? No inflation there. Why does something tell me that he is using nominal figures within this analysis. Target comp same store sales rose a whole .9%. Best Buy, forget about that. But hey, you're paying more for eggs at the supermarket so the economy firing on all cylinders.
As far as the stock market goes, it's up because of the money printing nothing to do with the actual economy.
Complete and total denial.
"While many remain deeply concerned about the fragility of what might be the start of a self-sustaining economic recovery, there is real reason for optimism that, indeed, a true and lasting recovery is underway."
Recoveries are never true and never lasting.
Author is clearly someone who does not understand the basic principles of exponential mathematics. Um, or history either for that matter. Amazes me how a few decades of "prosperity" at the expense of future generations somehow gets translated into the belief we have the economic equivalent of a perpetual motion machine.
"Author is clearly someone who does not understand the basic principles of exponential mathematics."
I bet if you gave this guy a slinky he would try to fuck it and you are wondering if he has problems with exponential mathematics. Slow down!
A) Car Sales are rolling over again. B) Banks aren't taking properties into REO to keep the RE market viable, which it wouldn't be if all those properties hit the market. C) Consumer Credit are you fucking shitting me? Defaults are not deleveraging. D) GDP[rough #s]: 09+10 = $30T *MINUS* $4T injected by gov't = $26T = ~14% *LESS* correctamundo? Add to this the currency adjustment ==> 22% minimum.
Moreover, retail data in real terms is up miserly & marginally & this ONLY IN COMPARISON to 2009 which compared to 2008 data, aka, it's got as much traction as the top of Ronda's head. Can you say a gallon of milk at $6 instead of $4?
The shit Ron says sometimes would make the debate team at the special Olympics blush for fuck's sake, and this, STILL an overestimation due to his continuing juxtaposition to that bastion of mammarian intellect, MCC
he is a paid schill, talking his fucking book
Feeling compelled to frontrun Buzzsaw on this one with....
egad!
yo!
Pardon me if I am redundant, but is it any shock that those who get the info from behind the curtain, the central planners (Cramer, Gross,...) are not optimistic. If I got the results of the NFL playoffs in advance, I would see everything from a different light as well. These guys have everything they want, all the cool guys in the club, calling all the shots, getting to apply all their theory....and they still get laughed at.
They don't even address or reconcile the fact that 5 bill a day is given to banks to pump up the system...
These guys are in the last innings of a desperate game. And they will lose their nerve soon and run counter their own words.
If these dipshits got the results of the NFL playoffs in advance they would still take Kansas City, giving a touchdown to Baltimore.
This city is filthy with rich men that are rich for no other reason than they are useful idiots. Well, to me they are all just idiots. Fuck Insana and everybody that looks like him.
when his hedge fund was blowing up, we were on the brink of economic collapse
now that he has a steady paycheck, he's in recovery
it's the old saying, when your neighbor loses their job it's a recession but when you lose your job it's a depression. and i might add when you hang around only rich people with lots of money, it's an economic expansion
and ron if you read these comments .. if i hear you say one more time that your prediction is that 2011 will be the year to come back home, well i might have to buy a new tv. every time you say it (after the first) makes you sound like a parrot.
"it's the old saying, when your neighbor loses their job it's a recession but when you lose your job it's a depression."
And when some shill at CNBC loses their job, or dies of cancer, it is time for a Jager Bomb.
I would surmise that Ron doesn't just drink the kool-aid- he guzzles it and then takes it by IV. His nose is brown from having it shoved up his "good friends" ass. He's just another sheeple.
Hey.... wasn't Ron Insana the little guy actor on Fantasy Island who rang the bell and shouted "da plane, da plane"?
"Hey.... wasn't Ron Insana the little guy actor on Fantasy Island who rang the bell and shouted "da plane, da plane"?"
No. That wasn't him. His film career consists solely of porn with animals.
Why do you want to insult tatoo that way?
he is the same rat bastard that didnt notice the last stock market bubble and was a one of the main bubblonions on CNBC that sucked up to every 200 PE no earning dot com, fake CEO that him and cramer could find....he is a paid schill nothing more.
"Insana" - even the last name says "insane"
$4 a gallon gas did wonders for the economy in 2008. Looking forward to a 2011 redux.
Shocked the the original bobblehead Insana (never trust a man without a neck) didn't mention this small, trivial fact.
Booyah.
My new favorite graph. Booyah.
New High of Liquid Fuel Production:http://www.theoildrum.com/files/Fig.%201.png
"never trust a man without a neck..."
Never trust a Costanza lookin' mother fucker...
No neck?! If this was ZH.co.uk it would be break ou the Gladstone Small jokes time!
http://www.smh.com.au/ffximage/2006/12/26/small_gladstone_wideweb__470x3...
Ron Insana is just "talking his book" like other clowns like Steve Liesman and Dick Bove..
Another idiot.."full of sound and fury signifying nothing"
Hahaha, what a fucking jackass. So what the hell is his point here? That if you call a spade a spade, you're somehow shortsighted?
Unlike those prior periods, the U.S. economy already has recovered ALL of the lost output since the start of the Great Recession.
And to think it only took an increase of just $3.1 trillion in the national debt to recover ALL of that lost output. Sounds like Ronnie & Krugman drink the same kool-aid.
I was slumming earlier today over at HuffPo and noticed that the other great Wall Streeter, Henry Blodget, is also a featured columnist (for those who care, Henry's popular left wing business blog, BusinessInsider.com is financed by Arianna's partner and co-founder of HuffPo, Ken Lerer)
http://www.huffingtonpost.com/henry-blodget/is-this-just-a-fact-of-li_b_...
"I was slumming earlier today over at HuffPo"
Isn't that what that show Intervention is about? Friends don't let friends read HuffPo.
Is that you Pierre?
...happy days are, indeed, here again...
ahhhhh... that makes my itching ears feel sooo goood.
Too bad that scratching poison oak only spreads the malady when in reality cleansing, salve and self restraint from scratching do so much better at healing.
If the value of homes is still declining, and the majority of middle class wealth is tied up in their home, how has household net worth increased?
Beanie Babies really rebounded in 2010.
crap I didn't even think of that
Uncle ben's wealth effect. Everyones 401k ect. is up over the last 2 years, blowtorched from high's, yes, but still up .... Millions of people still working, most of the layoffs over the last 3-4 year involved people with a lower education level, many of the higher paying jobs still going good.
The highways are packed coming into/out of Chicago every day, someone is making money. Cat has never been this busy tons of companies making deals and money every day in the USA.
"Millions of people still working, most of the layoffs over the last 3-4 year involved people with a lower education level"
I'd rather have a gang of laid off CPAs coming for my wallet with knives and sticks than a gang of laid off construction workers.
The highways are packed coming into/out of Chicago every day, someone is making money.
So you are one of them? I got you figured out now, It all makes sense...And BTW, most Americans no longer have a 401k thanks to Ben so all they see is higher prices for everything, a lower standard of living, and real estate dropping like a rock.
Well no one forced anyone to take out loans/debt so everyone who is broke must look in the mirror. Keeping up with the joneses Lol', as buffet says, leverage kills !!!
On the highways, me ? Nope, not much. 20Ft box truck side roads moving manufactured parts in the USA, who would have thunk it, my best friend owns a large manufacturing plant. Loaded with work. And printing/retouching on the side.
Well no one forced anyone to take out loans/debt so everyone who is broke must look in the mirror???
I guess I'm confused because without the warm bodies they stuffed into these loans they could not have pulled off the MBS,CDO,CDS heist that took place during the " so called financial meltdown" BAWaHahAhA Give me a freaking break, the sheep were herded into the loans so the herders could get their wool. It was a staged event or should I say robbery and they think they got away with it?
..." I guess I'm confused because without the warm bodies they stuffed into these loans they could not have pulled off the MBS,CDO,CDS heist that took place during the " so called financial meltdown" BAWaHahAhA Give me a freaking break."......
So you support the sheep's/credit/debt binge'... ???
Now I have you pegged, your one of the sheeple who was blowtorched over your stupid borrowing, o.k. I got it. Sorry bro- look in the mirror you signed the paper.
Thank God I tossed my tv in the garbage can in 99' and came upon Itulip in 2002 and was out of debt by 2004' ... Lol'
Dude I sold out in 07 for cash thanks to the Doomers giving me the insight.
The sheep were led into the stable by the bankers, what part of that don't you get? Without the loans there would be no MBS to bundle and no CDO to crash so they could collect their anticipated CDS. It was a staged heist to the sum of 8 trillion dollars. And they even had the balls to send Hank in for an additional 700 billion and then made Obama cough up an election fee of 787 billion and now they have 0% free money and control of 63% of Americas assets and a FED that pumps the market for them. Mission Accomplished!!!
I'm no science rocket but I can at least follow this scam.
The truth about the Chicago roads is (according to many friends and my own observation) that most of them are taxis which can now cruise for fares because there are fewer private cars.
So, Ron, why was QE2 necessary again? You know where this ends, right?
Anyone wonder if he actually thinks what he says is legit. Or does he laugh as he falls asleep.
How dopey...
This is my all time favorite data set. Note the years of the top 20 single day Dow percent gainers. I think we're on our way to a recovery!
DOW Largest daily percentage gains
Rank Date Close Net Change % Change 1 1933-03-15 62.10 +8.26 +15.34 2 1931-10-06 99.34 +12.86 +14.87 3 1929-10-30 258.47 +28.40 +12.34 4 1932-09-21 75.16 +7.67 +11.36 5 2008-10-13 9,387.61 +936.42 +11.08 6 2008-10-28 9,065.12 +889.35 +10.88 7 1987-10-21 2,027.85 +186.84 +10.15 8 1932-08-03 58.22 +5.06 +9.52 9 1932-02-11 78.60 +6.80 +9.47 10 1929-11-14 217.28 +18.59 +9.36 11 1931-12-18 80.69 +6.90 +9.35 12 1932-02-13 85.82 +7.22 +9.19 13 1932-05-06 59.01 +4.91 +9.08 14 1933-04-19 68.31 +5.66 +9.03 15 1931-10-08 105.79 +8.47 +8.70 16 1932-06-10 48.94 +3.62 +7.99 17 1939-09-05 148.12 +10.03 +7.26 18 1931-06-03 130.37 +8.67 +7.12 19 1932-01-06 76.31 +5.07 +7.12 20 2009-03-23 7,775.86 +497.48 +6.84Sounds like Ron has his eye on that cubicle by the water cooler and 20 feet away from the assistant manager's office. Sweet.
Tyler,
One of your best articles yet, thanks !!!
In summer 2007 I read a Ben Stein piece stating that what happened in subprime would stay in subprime. That helped persuade me to get out of the stock market and into cash and bonds.
Two years ago Dr. Stein wrote an equally loony piece predicting doom for the US economy. This was one of my signals to buy some stocks and much more metals (not that doom isn't coming, it was a timing call, I hasten to add).
That's the analogy for Mr. Insana. Top ticking- maybe not quite. Hope market can hold up till AAPL beats.
Ron Insana you are an Idiot! So we got 6 trillion in so called growth from 0% free money, yet it only cost us about 30 TRILLION? Looks like we lost an additional 24 trillion to me. Go back and HUFF some more hopium because you are just like the other 90% of Americans that are truly clueless and don't look at the real numbers. When they run out of options and this whole ball of fluff comes unraveled, I hope Arianna bitch slaps you for your stupidity. Seems like most of the so called Doomers are the ones that called the recession to begin with? Yup they are and since you are such a dumbass now you're still siding with the ones that said everything was fine and supporting the CRONIES that caused the depression. You just keep dry humping Ben's leg but when SHTF and we go deeper into this depression, I hope you leave the blogosphere for good this time.
LOL. March 2000 called and said, "Yeah, not so much."
how much money did the Fed give this guy ? wow life is good if ur connected.
I suppose it was pure oversight on his part, but he failed to mention the current double dip in US home prices, increasing loan defaults on US commercial RE, "fraudclosure" lawsuits, the raging rally in PMs (which presage a collapsing currency), the insolvent European countries, the self-dealing, monetizing, lying, equity pumping Fed, the worst and most persistent US unemployment since the 1930s, all the broke US states, wage deflation, rising health-care costs, rising oil prices (which reduce GDP), ... just a few items. Other than all that, Ron is right--this is a friggin' Goldilocks economy.
Sorry about that... the data cut/paste didn't exactly come out cleanly:)
I'll try it one more time.
Dow top 20 daily percent gainers.
#1~
1933-MAR-15
? ? ?#2~
1931-OCT-06
? ? ?#3~
1929-OCT-30
? ? ?#4~
1932-SEP-21
? ? ?#5~
2008-OCT-13
? ? ?#6~
2008-OCT-28
? ? ?#7~
1987-OCT-21
? ? ?#8~
1932-AUG-03
? ? ?#9~
1932-FEB-11
? ? ?#10~
1929-NOV-14
? ? ?#11~
1931-DEC-18
? ? ?#12~
1932-FEB-13
? ? ?#13~
1932-MAY-06
? ? ?#14~
1933-APR-19
? ? ?#15~
1931-OCT-08
? ? ?#16~
1932-JUN-10
? ? ?#17~
1939-SEP-05
? ? ?#18~
1931-JUN-03
? ? ?#19~
1932-JAN-06
? ? ?#20~
2009-MAR-23
? ? ?I am bent over waiting for the imminent recovery. Get the KY ready.
Did someone say waiting?
Clapton D'angelo David Sanborn and friends-Sunshine of Your Love:
http://www.youtube.com/watch?v=u0IH_jE4vw8&feature=related
WTF is that? Ya think it's a little OT?
It is clear that this idiot will applaud the contribution to GDP that a $50 stick of chewing gum will provide in the near future.
The tards just can't accept that the only thing moving the stock market is the huge amount of money we are printing. They want to believe there is a recovery. But there is only inflation, just like in the 80's when the gutting of America started. Only this time, it is a lot more obvious to anyone who looks at tags and boxes indicating the point of origin for everything they buy.
Is it the same Ron Insana who started his own hedge fund in 2006, Insana Capital Partners, only to lose all client's money and collapse two years later in 2008? Is it the same Insana who was kicked out from SAC Capital in 2009? Is it the same Insana who pops up on CNBC to promote Kool-Aid binge drinking and CNBC pie-in-the-sky propaganda?
i think so. and the same ron insana that always seems to be wearing Lou Grant's hand-me-downs. always pissed looking like he was too.