This page has been archived and commenting is disabled.

Mike Pento Is Sick Of Dealing With Idiots

Tyler Durden's picture




 

Correction: he does not explicitly say it, but watch his eyes closely. Also, the man is obviously insane: how can one "not be bullish on government transfer payments." Forsooth, government transfer payments have resulted in an increase of the S&P market capitalization by a few trillion bucks. It is YOU, Mr. Pento, who is the idiot for not believing that the fine upstanding Chairman of the Federal Reserve (and the United Printing Presses of America) will ever stop killing the US middle class at the expense of insiders being unable to sell their stock at what they obviously acknowledge are sky high valuations. If that means Robert Mugabe ends up hiring Tim Geithner as his right hand henchman sooner rather than later, it is truly our loss, Mr. Pento. Our loss.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 09/30/2009 - 14:56 | 84083 ghostfaceinvestah
ghostfaceinvestah's picture

Pento is awesome.

These are the times that separate the men from the boys.  Easy to be a bear at 666, hard to be a bear at 1060 (the irony in that!!!).

Remember all the people who laughed at Schiff in 2006.

Fri, 05/06/2011 - 16:34 | 1249110 Blizzard of Aahhhs
Blizzard of Aahhhs's picture

Looks like Pento was wrong.

Wed, 09/30/2009 - 14:59 | 84097 Cheeky Bastard
Cheeky Bastard's picture

can someone pull a piece of data on Mike Darda and see which college he attended. He looks like an ivy league douchebag who beats a 5000 $ whore with a curling iron because he can not achieve an erection without having a 10g of coke in him and a picture of a mexican midget wrestler glued to the whores back. And also; Kudlow seems less coke crazy than in the previous clips.

Wed, 09/30/2009 - 15:04 | 84109 ghostfaceinvestah
ghostfaceinvestah's picture

He's a badger, surprisingly.

Wed, 09/30/2009 - 15:33 | 84162 bonddude
bonddude's picture

Chris Farley party school (lots o' blow), perhaps not that campus. Don't you love how Darda faces reality in the end?

Wed, 09/30/2009 - 16:03 | 84222 Gilgamesh
Gilgamesh's picture

Not that one, and minus the blow.

Wed, 09/30/2009 - 17:07 | 84280 Art Vandelay
Art Vandelay's picture

So, he's a Big Ten douchebag, who beats a $5 whore with a bratwurst because he can't get an erection without a six pack of Old Style in him and a picture of Brett Favre on the whore's back?

 

Wed, 09/30/2009 - 19:17 | 84420 Uros Slokar
Uros Slokar's picture

+10

Also, just to get a feel for how the world economy really is, how's the import/export business these days?

Thu, 10/01/2009 - 00:05 | 84791 Art Vandelay
Art Vandelay's picture

Import and export are both terrible, to say nothing of my architecture practice.

However, the latex manufacturing is holding up well, even in these troubled times...

Wed, 09/30/2009 - 15:05 | 84112 Paul S.
Paul S.'s picture

He graduated with honors in economics, journalism and public relations from the University of Wisconsin at Whitewater.

Thu, 10/01/2009 - 00:58 | 84850 ZeroPower
ZeroPower's picture

Never heard of it.

Wed, 09/30/2009 - 15:12 | 84121 Paul S.
Paul S.'s picture

He reminds me of Christian Bale in American Psycho.  Like he would kill you if you had gotten the egg shell background on your business cards.

 

Patrick Bateman: He was into that whole Yale thing.
Donald Kimball: Yale thing?
Patrick Bateman: Yeah, Yale thing.
Donald Kimball: What whole Yale thing?
Patrick Bateman: Well, he was probably a closet homosexual who did a lot of cocaine. That whole Yale thing.

Wed, 09/30/2009 - 15:32 | 84160 pigpen
pigpen's picture

Paul S. - great scene with William Dafoe. Watch out for those yalies and those harvard and princeton boys.

Wed, 09/30/2009 - 15:34 | 84167 bonddude
bonddude's picture

Skull and Bones, secret hand shakes and don't turn in Jack the Ripper...and such.

Wed, 09/30/2009 - 15:40 | 84178 pigpen
pigpen's picture

Willem - sorry for the spelling error.

Wed, 09/30/2009 - 15:17 | 84128 Cognitive Dissonance
Cognitive Dissonance's picture

Cheeky, who's curling iron would Mike Darda be using (his own maybe?) and what's so stimulating about Mexican Midget Wrestlers? :>)

BTW, Darda looked like he was well along snorting that coke.

Wed, 09/30/2009 - 15:35 | 84168 Brian Griffin
Brian Griffin's picture

"BTW, Darda looked like he was well along snorting that coke."

And not nearly as entertaining as a drunk Charlie Gasparino. 

Wed, 09/30/2009 - 20:04 | 84491 Gilgamesh
Gilgamesh's picture

Actually, it looked like a painfully sedate interaction - opposed to the usual demeanor.

Wed, 09/30/2009 - 15:22 | 84137 pigpen
pigpen's picture

CB, will you marry me? My lunch is all over my keyboard. Rapacious lexicon. Love it.

Cheers,

Pigpen

Wed, 09/30/2009 - 15:42 | 84184 Cheeky Bastard
Cheeky Bastard's picture

a) NO

b) are you even a non-surgical she

c) WTF is up with all the marriage proposals im getting here ...

Wed, 09/30/2009 - 15:48 | 84195 Cognitive Dissonance
Cognitive Dissonance's picture

It's the face Cheeky that's turning everyone on. Have you seen your picture lately? Drives men and women wild.

Wed, 09/30/2009 - 18:19 | 84356 Hephasteus
Hephasteus's picture

He asks everyone to marry him.

Wed, 09/30/2009 - 19:42 | 84456 Gilgamesh
Gilgamesh's picture

CB, you couldn't be more off-base on this one.  Except for the Kudlow part, that is spot on.

Thu, 10/01/2009 - 06:30 | 84956 Cheeky Bastard
Cheeky Bastard's picture

how am i off base; darda has a striking percentage in the area of .004 on his calls over the past 2 yrs. And whore, blow mexican midget was just speculation 

Wed, 09/30/2009 - 22:14 | 84641 DrPsycho
DrPsycho's picture

 

        CB, your use of understatement is nothing short of brilliant.......

Wed, 09/30/2009 - 15:00 | 84098 lizzy36
lizzy36's picture

michael darda proving that sometimes violence is the answer.

 

 

Wed, 09/30/2009 - 19:56 | 84479 deadhead
deadhead's picture

reminds me of the recent expose how the extreme majority of economists will have a difficult career path if they are critical of the Fed.

didn't they say that darda is an economist?

Wed, 09/30/2009 - 20:00 | 84486 Gilgamesh
Gilgamesh's picture

Yes, and you are correct about the influence in the profession.  Especially when your mentors walk blindly over the cliff but never realize or admit they have done so.

Wed, 09/30/2009 - 19:57 | 84481 Gilgamesh
Gilgamesh's picture

Mike is someone you wouldn't want to end up coming to blows with.  Never one to throw first, but also never one to avoid conflict.  I'd actually like to see Chaz get into it with him sometime in person, to see if the skills are still there.

 

It is a shame the over-reliance on historical business cycles he still sticks with in the modeling of this faux economy.  He's much better than this, and has been in the past - before completely missing it on the last collapse (no small error).

Wed, 09/30/2009 - 21:27 | 84577 long-shorty
long-shorty's picture

Mike Darda is sharp and insightful. The real story here is that the bear was calling for trouble sooner, and Darda for trouble later. I thought he was pretty balanced. Not sure why that makes him a whore-beating, coke-snorting dummy. But hey, he's probably got more money and a prettier wife than most of the posters who just bashed him, so why not hate him?

WTF is wrong with you people? Do you want every analyst to be walstreetpro?

Wed, 09/30/2009 - 21:42 | 84598 Gilgamesh
Gilgamesh's picture

I should clarify which Mike I referred to - Darda.  Overlooked the fact that this post started with another Mike in the title.  I don't know Pento other than seeing his clips, but I agree with him in this case.

 

I think Wallstreetpro and MD have a lot more in common than anyone here would guess.

Wed, 09/30/2009 - 15:02 | 84103 Daedal
Daedal's picture

<double post> sry.

Wed, 09/30/2009 - 15:05 | 84105 etrader
etrader's picture

Holy smokes what next :eek:

John L. Perry
"There is a remote, although gaining, possibility America's military will intervene as a last resort to resolve the "Obama problem." Don't dismiss it as unrealistic. 

America isn't the Third World. If a military coup does occur here it will be civilized. That it has never happened doesn't mean it wont. Describing what may be afoot is not to advocate it."

http://mediamatters.org/blog/200909290042

 

Wed, 09/30/2009 - 15:40 | 84180 bonddude
bonddude's picture

Total ripoff of "Seven Days In May" 1962

Kirk Douglas

Burt Lancaster

and many more...

Wed, 09/30/2009 - 19:28 | 84434 Anonymous
Anonymous's picture

Oh, it's happened here...

Wed, 09/30/2009 - 15:03 | 84108 TwoJacks
TwoJacks's picture

I don't even need to watch this. Michael Darda is a hack!

Wed, 09/30/2009 - 15:12 | 84119 lizzy36
lizzy36's picture

looking @ pisani and epic ass bartiroma

wtf happend to simon hobbs? intelligence combined with a voice that doesn't grate on my nerves. only cnbc could have fucked that up....

 

Wed, 09/30/2009 - 15:20 | 84135 Cognitive Dissonance
Cognitive Dissonance's picture

Lizzy, two posts in two days about Simon Hobbs. I think you have a crush. Though I agree that Simon seems somehow different...er better, which explains the quick hook he got from CNBC.

BTW Pigpen's been looking to ask you out on a date but he thinks he's too dirty for you. Say it ain't so Lizzy, say it ain't so. :>)

Wed, 09/30/2009 - 15:35 | 84154 etrader
etrader's picture

Simon Hobbs is famous for attending the Berlin Love  parade ;-)

I like Simon's style, he's was great when he was lead on Euro Close.

Simon and "Porn Star" Mrs Drury should be US closing bell's line up!

Wed, 09/30/2009 - 15:43 | 84186 bonddude
bonddude's picture

He sure ripped asses on Fast Money a few

days back. Slammed the Fed, Monetary Policy, etc... . They are gonna have to give him something to "reconsider" things.

Wed, 09/30/2009 - 15:38 | 84177 Hrundi V. Bakshi
Hrundi V. Bakshi's picture

it's not in cnbc's nature to better itself. good is bad and bad is good, case in point DK, kudlow and Capitan JC.

Wed, 09/30/2009 - 18:06 | 84226 lizzy36
lizzy36's picture

sucker for intelligence, the voice (if only they had rosetta stone product so one could learn a proper british accent) and that often under appreciated "pot stirring" skill set. 

 

Wed, 09/30/2009 - 15:19 | 84130 HEHEHE
HEHEHE's picture

Darda was claiming in spring and summer of 2008 that the place to be was stocks as we would have a rebound in the second half of the year.  Great call moron.  He is doing the same thing now.  He's a broken record "stocks, stocks, stocks".

Moreover, even if we get a positive GDP # in the 3rd quarter it's clearly an anomaly based on government intervention and not growth.  It will soon be followed by a second dip down that absent another government "stimulus" will lead to another tailspin in the markets.

Wed, 09/30/2009 - 19:58 | 84484 deadhead
deadhead's picture

Darda was claiming in spring and summer of 2008 that the place to be was stocks as we would have a rebound in the second half of the year.  Great call moron.  He is doing the same thing now.  He's a broken record "stocks, stocks, stocks".

perhaps he is gunning for a job at bac/ml as bianco's second in command suckup.

Wed, 09/30/2009 - 15:20 | 84131 ghostfaceinvestah
ghostfaceinvestah's picture

Got this from Grayson this morning.

Hi Ghostfaceinvestah,

With the banks looking everywhere for an opponent to bankroll, I need your help today to show them we'll be ready. Can you help?

Last Friday, when we held our first hearing on HR 1207, the bill to audit the Federal Reserve, I knew I was doing the right thing.

That's why I wasn't afraid to ask Fed General Counsel Scott Alvarez "whether it is within the Federal Reserve's legal authority to try to manipulate the stock market or the futures market."

I also knew that I was making a large number of people -- people who have benefited from the Fed's refusal to tell me or any other member of Congress which banks got their money -- pretty angry.

When you speak the truth about what needs to be done to fix the current mess we're in, you make a lot of friends. But you also make a lot of enemies.

And those opponents have put a big target on my back in 2010.

Will you help me fight back by making a contribution to my campaign before the September 30 fundraising deadline?

To give you a sense of the power of these banks, just look at what happened earlier this year. In June, the Wall Street Journal reported that a coalition of financial firms and trade groups donated $286,000 to the campaigns of members of the House Financial Services Committee in the first quarter!

Why?

They no longer liked an accounting rule that required them to report billions of dollars of losses on the mortgage securities that helped create our current mess. The banks and their deep pockets won, getting members of Congress to push for a change in industry accounting standards. The results were fatter "profits" for the banks in the second quarter.

These firms haven't given a dime to me because I don't abide by the pay-for-play rules of Washington.

Instead of the banks, I need to turn to you for support. Please contribute to my campaign to help me fight against the sick pay-for-play culture of Washington.

The big banks are going to bankroll my opponent to the tune of millions, because let's face it, I'm the kind of Congressman who causes them too much trouble.

I need your support to show any potential opponent that standing up to the wheels of power may have made me some enemies -- but that my friends will be fighting with me every day.

Please make a contribution to our campaign before tonight's crucial midnight deadline.

Thank you for your support.

Alan Grayson
Member of Congress

Wed, 09/30/2009 - 15:45 | 84189 Assetman
Assetman's picture

Did that come from a .gov address this time?

Wed, 09/30/2009 - 15:55 | 84204 lookma
lookma's picture

No, just like the last one it came from

It also said:

Paid for by Alan Grayson, Democrat, for U.S. Congress
FEC #C00424713

Wed, 09/30/2009 - 18:05 | 84333 Anonymous
Anonymous's picture

Jane Hamsher loves her some Grayson, huh? I hadn't heard from/about her since Ned Lamont flamed. Glad to see she is supporting progressives with stones for a change.

Wed, 09/30/2009 - 22:45 | 84671 greased up deaf guy
greased up deaf guy's picture

yeah, those mass e-mails can get quite expensive.  lol

Wed, 09/30/2009 - 16:38 | 84249 Anonymous
Anonymous's picture

Only a 286 grand payoff in one quarter to get that FAS 157 MTM "emergency suspension " done ??

Damn, the Banksters made billions and bought mountains of time to stay alive getting that voodoo accounting approved. All the CongressCritters had to do was waterboard FASB while the SEC was off in the bathroom puking on too much Madoff.

You'd think our honorable representatives in the House Finance Committe would have some dignity and demand much more from the Banksters ..... off line, so to speak.

Ooops......silly me. They probably already thought of that.

Wed, 09/30/2009 - 19:33 | 84441 Anonymous
Anonymous's picture

Swiss banks other than CS & UBS...

Wed, 09/30/2009 - 20:43 | 84518 Jay
Jay's picture

...When you speak the truth about what needs to be done to fix the current mess we're in, you make a lot of friends...

 

Grayson has been in office for what, less than a year? And look at all those yes votes on all that pork. Yes on C4C. Yes on releasing the 2nd half of the TARP funds. Grayson isn't walking the talk.

Wed, 09/30/2009 - 15:24 | 84141 HEHEHE
HEHEHE's picture

Darda 12/20/07

"

"There's no market-moving data today," said Michael Darda, chief economist at MKM Partners.

Investors are increasingly worried about "meltdown risk," something that Darda thinks is overstated: "we are headed for a slowdown, but I see no evidence of a recession," he said.

"The fourth quarter [of 2007] will be weakest but I see the economy picking up in the second half of 2008," he added."

Wed, 09/30/2009 - 15:28 | 84147 ghostfaceinvestah
ghostfaceinvestah's picture

He looks qualified to be the next head of the Federal Reserve.

Wed, 09/30/2009 - 15:46 | 84192 bonddude
bonddude's picture

Sounds, at least, like a future GS partner.

Wed, 09/30/2009 - 16:13 | 84234 Anonymous
Anonymous's picture

He has millions of personal wealth - he can fund his own campaign (just does not want to).

Wed, 09/30/2009 - 15:55 | 84205 cleveland
cleveland's picture

To nitpick above. Farley was born and raised in Madison. Attended college at Marquette University in Milwaukee, WI. I would know because I am following in his exact footsteps! ;) (Not the drug habits though)

Wed, 09/30/2009 - 17:09 | 84283 bonddude
bonddude's picture

I was misinformed, thanks.

Wed, 09/30/2009 - 15:58 | 84209 Fruffing
Fruffing's picture

"well into above-trend for the 2nd half..."

If Darda went to the real UW (Madison), he might not have such a flaccid, smarmy approach to political economy.

In fact, he probably wouldn't call himself an "economist."

Go Big Red

Wed, 09/30/2009 - 16:05 | 84223 Hephasteus
Hephasteus's picture

"Where are we in the economic cycle?"

Broke, deeply in debt with no income to get out of it.

Wed, 09/30/2009 - 17:08 | 84281 economicmorphine
economicmorphine's picture

Everytime you introduce me to another one of these Wall Street guys, this time Darda, I get this sick feeling in the pit of my stomach.  It's sort of like heading up to the cockpit and seeing a 10 year old in the left seat.  While I'm on the subject, I hope Darda is long Brylcreem.  Heaven knows he uses enough of it.

Wed, 09/30/2009 - 17:10 | 84284 etrader
etrader's picture

Maybe Ben Bernanke is thinking of giving  Knapp's Chartalism a try after  his friedman bias got him in so much of Pickle!

 

 

Wed, 09/30/2009 - 17:22 | 84301 Anonymous
Anonymous's picture

I thought Darda did a good job not taking Pento's stale slimjim bait.

Srsly. Bravo Darda.

Wed, 09/30/2009 - 17:23 | 84304 HEHEHE
HEHEHE's picture

More Dramatically Dumb Darda Declarations, 4/18/08:

 

Economist Mike Darda over at MKM Partners sees some light at the end of the tunnel:

"The current credit crisis looks to be about as bad as anything we've seen in the last two decades—but not worse. Various measures of financial system risk were far higher during the downturns of the 1970s and 1980s. Market price indicators suggest the Fed is easy, not tight, which means the economy should be in better shape a year from now. Moreover, the Fed's more aggressive discount window policy seems to have created a financial market inflection point around March 18, which we believe will continue to mark the low point for stocks.... The S&P 500 is now 9% above the March low. The two-year Treasury note yield has risen to 2.24% from a low of 1.34% on March 17. These are positive signs that risk aversion is beginning to ebb. While credit strains will be a headwind for some time, we believe there is substantial upside in risk assets such as equities and corporate bonds and significant downside risk in Treasuries."

 

Keep in mind that was the March 2008 low which is 200 to 300 points above where the S&P currently resides and anybody with half a brain knows we are headed lower in the near future.

Wed, 09/30/2009 - 19:35 | 84446 Anonymous
Anonymous's picture

That pesky internet.
Let's pull the plug...

Wed, 09/30/2009 - 17:51 | 84319 Anonymous
Anonymous's picture

Jesus - where do they get these goons?

Of course, the fact of the matter that those who think they know whats going to happen get on with making money and positioning themselves appropriately and quietly.

Those that hang their ass out on CNBC in the hope of rolling a few more retail rubes before the shitstorm hits usually don't know shit from shinola and worse, they don't know they don't know.

Rumsfeld was an asshole but when he gave the world "known unknowns" he described the finance industry to a tee. You think you KNOW this stuff better than the next guy - pack up and go home.

You think you have done your homework, evaded herd mentality and checked where the fire exit is, by all means back up the truck.

Wed, 09/30/2009 - 18:28 | 84361 aswipe
aswipe's picture

UW Whitewater??? he needs to get his head out of the cows ass he milked as a kid and realize the rest of the world is not federally subsidized like dairy and banking industries.

Wed, 09/30/2009 - 20:08 | 84498 Gilgamesh
Gilgamesh's picture

Might want to pay attention to the past 10 years.  I'd say that has done more harm than good in this case, though - just not financially.

Wed, 09/30/2009 - 19:29 | 84437 Anonymous
Anonymous's picture

Well the other fella is right that the FED did not give any timelines. So it's a difference of opinions there - that's what makes the market. The >most< I would imagine the FED will rase rates is to just get to parity with yen, to slow down the dollar carry trade.

Wed, 09/30/2009 - 20:50 | 84528 Anonymous
Anonymous's picture

It is a shame that a community that buys off on anonymity and "judge the message, not the messenger" engages in juvenile ad hominem attacks. Pulling up Darda's record - good stuff. Poking holes in his theories with facts and thoughtful analysis - even better.

But childish attacks add nothing to the discussion or this community.

Wed, 09/30/2009 - 22:15 | 84642 McGriffen
McGriffen's picture

Darda + Wesbury...helping lead you wrong since 2007.

could not resist..."V" is for victory, not this recovery imo

Thu, 10/01/2009 - 01:52 | 84879 Anonymous
Anonymous's picture

Darda is Patrick Bateman.

Thu, 10/01/2009 - 01:55 | 84881 Anonymous
Anonymous's picture

Darda is Patrick Bateman

Thu, 10/01/2009 - 06:48 | 84961 Ned Zeppelin
Ned Zeppelin's picture

Darda's "inflection point?" What is he talking about? Other than reciting the party line his facts, figures and conclusions are incoherent, but consistent with party line so he is treated as the "rational guy" as compared to Pento's "crazy bear."  Nothing more than a pile on session to keep beating down the true state of affairs.

Sun, 09/12/2010 - 12:49 | 576899 oogookiz
oogookiz's picture

 Master Bateman.

Wed, 09/15/2010 - 16:59 | 584096 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

who is master bateman?

Do NOT follow this link or you will be banned from the site!