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Meredith Whitney Even More Bearish On Housing And Financials
Meredith Whitney appeared on CNBC earlier and was about as bearish as ever, not only on financials, but on housing as well. In addition to saying that she expects the housing market to get worse in Q3 and Q4, the maven again reiterated the blatantly obvious, namely that all the recent earnings beats by financials have been an accounting sham driven by:
- Provisioning for less future losses, by reducing NPLs in the current quarter, thus generating profits out of manipulated air (particularly relevant for HSBC's results yesterday, which were the main factor in pushing the market 25 points higher)
- Increasingly more difficult for consumers to get loans. Not much of an issue - Obama will simply blame this on the previous regime.
- And the glaringly obvious, i.e., that all European banks sit on bloated amounts of largely overvalued sovereign debt. Should another sovereign risk flaring appear (and it is Zero Hedge's belief that this will occur promptly, as soon as the European vacation season is over), it will be time to dig up the old skeletons of financial insolvency once again, only this time with EUR LIBOR and Euribor about 100% higher than where they were in May.
Full clip from one of the people who is still only semi-institutionalized:
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She's hot. Just be careful or her husband JBL will bust you over the head with a chair....
finally something we agree on JB. she is a hot little mummy bear
That would make her a BILF.
LOL
She's hot in the winter because of her blubber. She's been porking up as of late. The dominatrix needs to quit eating cookies and get a meth habit. I'm not saying I wouldn't hit it (with a whip?), but I wish she'd focus some of the bitch energy towards an elliptical. She's got the market cornered on women that look worth a shit that you can actually pay attention to... just needs to quit eating cookies.
Larger women have more curves to them -- and less bony protrubences to poke you with!
protrubences, can't find this word in my dictionary. could you define please.
plus being bony hurts a lot if you fall (road rash) on your own bones a lot. plus you get really really really cold. but i can float really really well for long times without having any fat. fat people can float but they don't practice much. fat floats right, scholar?
nice sets of, pearl bitchez‡
Leave it to ZH to have a bunch of stupid comments about the wonderful Meredith.
I hope Tyler disables comments for all future articles regarding the beautiful Meredith W. That will fix all you potty mouth fools.
One of the few Wall St'ers with integrity.
Leave it to you to have a bunch of stupid comments about the wonderful right of people to express themselves. If you don't like it, don't read it. Despite your idiotic comment about hoping Tyler disable comments for all future articles regarding "the beautiful Meridith W." I don't think too many people on this site are in favor of internet censorship. Go read marketwatch.com if you want censored.
Gawd, you guys must be really hard up.... heck, where I live, you could get a 20 year old colombian who would rock your world for less than what it costs to do a round trade. Come one, get real <g>, MereBitch is not worth waking up for...
Shatner must be knee deep in hookers these days.
PCLN up $40 after hours...
Jesse James must be furious.
If you could fight any celebrity, who would it be?
He honestly seemed to care when his aged wife drowned. But the dude has more money than G-d now, surely that has salved some of the sting. Instead of a 51 yr old, he can now opt for 2 25.5 yr olds or even 3 17 yr olds. That's math, bitchez
I laughed out loud when I read this post, and am now flagging it as un-junk!
april 30 1999
pcln 974.25 (split adjusted)
Good bye housing market! Hello banking crisis.
Expect more phantom revenue generated by zombie banks. Thank you for being with us, Meredith.
I know this would be a little difficult, But i am a 47 year old male and I want to give birth to her child.
My dream is to see Meredith Whitney remarried, but this time with John "Mr. FX" Taylor... and having lots of kids.
Static Kill happening now
Static Cling later.
Auditioning for Captain Obvious, she is?
Look...EVERYONE KNOWS that the announcements are a fucking farce! Everyone knows that there is no recovery and that the data shows the opposite and what doesn't is a bunch of cark.
Nobody CARES. The system is built on pretend, not reality
I mean where the fuck was the "market" to discount the impossibility of perpetuation of economic growth? Where was the market discounting the clear ponzis in .com and housing? Nowhere, that's where. Markets aren't rational and they aren't efficient.
Well, they're efficient now, because only computers do the trading. And they're also highly rational for the same reason. The apparent valuation provided by computers is irrelevant; they care solely about moving the tape in a direction so as to "outwit" another computer and move some of that computer's firm's money into other hands.
If even 12 people wake up to what she's saying about the Economy, we're better for it!
JOHNNY BRAVO HAS NOTHING TO SAY TODAY ABOUT THE CHINESE AND THEIR OFFICIAL ENTRANCE IN THE GOLD MARKET...WHAT A SURPRISE...MAN IS HE ONE STUPID KNUCKLEHEAD...
excellent trolling. we'll see. maybe you'd need to have bold shouting to "attract" ol' jb.
- Ned
Anyone ever see that natural boner juice product
JBL is pimpin....
So now y'know !
HE'S SITTING ON THE BAR STOOL NEXT TO YOU. JUST START TALKING ABOUT GOLD. MAYBE YOU CAN GIVE HIM A KNUCKLE SANDWICH.
"Hey everyone, the stock market was socialized some time ago even before I came into office yet some people are still waiting to behave as it should. To them I say, Fuck you!"
-Uncle Barry
...and in other news...California to issue $2.2 Billion in IOU's (on top of the $1.16 Billion already outstanding...
http://latimesblogs.latimes.com/california-politics/2010/08/more-than-2-...
Stop picking on the second biggest deadbeat state next to Illinois. (Good info though)
Hey just reporting the news here....;)
"Hi, I am the city manager for Bell, Ca. and not only do I get paid $800k my pension is a million a year."
Coming to a town near You.
I think the new currency should just be slips of paper with 'I.O.U.' written on them.
To one of the smart people who I read on this site, your currency IS an IOU.
Payable by you-all.
Make me giggle that I have some and it degrades every day.
The old bills will be called in and the new will be called "the Bernanke Zim".
i'd do gillian tett over mw anyday
Gillian is smoking hot!!!
Elizabeth Warren awww day son. She might even hit you with a ruler (sexy librarian) if you're naughty enough.
GMILF????????
Come on man.
i didn't junk you D U D E. but i thought for a while and looked up these initials in urban dictionary.
not nice. my grandma raised me, unconditionally.
my parents took off all winters and grandma let me rock,
B I G T I M E ! while she quilted upstairs in her bedroom.
grandma's should not be associated with this kind of reference.
shame on you for this suggestion.
just sayin, B O N D OHOHOHO‡
i'm a masochist myself, so i'd rather prefer the dark mistress of morgan ms. masters to whip my bum anyday. of course, she'd first have to take off my silver shorts ;~)
masochist as in Sadomasochism?
S & M
sounds interesting, new concepts every day on ZH. who'd to think what broad spectrum topics are covered on these kind of blogs. my my goodness.
learn f a s c i n a t i o n s.
my new adult toy store name, by the way.
ps i am sure silver shorts means something dirty, right?
http://jessescrossroadscafe.blogspot.com/2010/08/jpm-commodities-head-to...
less talking and more sucking. no one cares. it's all bs and none of the ANALysts matter anymore. the market will be at 75,000 long after the lights have gone off...
"The european stress tests were negotiated". That is very funny. What is even more funny is that the CNBC reporter asked that question as if the stress tests were credible in the first place.
I bet CNBC was very displeased to have that sentence broadcast over their tv-time. Luckily later Pisani came in and declared the stress tests being fabricated were a victory for the bulls.
"phantom revenues"? How do comments like that get passed the CNBS censors?
Heh, she said shrinkage.
talks a hell of a lot of sense on one level, but acts as if we live in a normal, functional society and are moving toward increasing stability/higher living standards. banking system will have a tough time but get through it all. methink not.
these cramer ads are so fucking distracting...I lost my train of thought
yeah why can't ZH get some Meredith ads to replace his mug??
MW listened to the end and I need a big drink double dry!! Steady, Steady, Steady.....
But the Senator from Citigroup and the Congressman from Freddie Mac said financial reform would solve everything (along with righting the tower of Pisa, increasing gas mileage to over 100mpg, etc)... why does this mere woman NOT believe them? </sarcasm>
Try to find the CNBC video later today from
Nick Hayek (ceo of Swatch)
who this morning basically put the whole of cnbc and
the hordes of so called analysts flip flopping their forecasts
and upgrades/downgrades faster than a weatherforecast,
back on their place. Enjoy.
Her recs have been rubbish. Got the Citi call right at the beginning but that's about it. Missed the biggest rally her sector has ever seen. another one of these perma bears who have a view and pick various facts to support it. Waste of space.
What happened to Maria? Her hair looks greasy, her eyes tired and hollow...
Likely up all night, sucking producer d@ck.
At around 5:40 minutes into the video, MW says "The revenues don't support the expense structure." when talking about likely WS layoffs coming down the pike at the big banks and brokerages.
That comment is so applicable at all levels of gov't in the US, and at many businesses and households.
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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