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Mike Pento Kicked Off CNBC For Telling Truth, As Dumb Money Manager Says "Nothing Is In A Bubble When People Want To Buy It"
Today we got a freshly mindboggling example that CNBC is nothing but a propaganda machine reliant on fishing for the few remaining idiots among its audience. Mike Pento, in his traditional role as a bond bear, for some ungodly reason decided to grace CNBC with his presence, and proceeded to roundly refute Erin Burnett's statement, not question (this is important further down), that right now the US does not appear to be about to be considered "junk", to which Pento responds that the Fed is setting up interest costs by buying up the entire curve (today's $2.7 Billion POMO action being a stark reminder of who is in control), cautions that the $8.9 trillion in marketable debt will rise to $14 trillion by 2015 (according to the CBO), and that the result would be that instead of paying 5% of Federal Revenue on interest expense, the US will be paying 30% at "a bare minimum" in just a few years. The consequence is that once China and Japan get their fill of USTs (especially if China follows through with its threat of focusing on its own middle class, and thus exhausting its foreign FX reserves driven by a massive positive trade balance), interest rates will have no choice but to go up, especially to attract the meager US domestic savings. But this is not enough for Erin, who follows up with another "subprime is contained" assumption, which is that the US is the safest location for capital (which is only true until tomorrow everyone decides to go to China, or a gold-baked ruble/deutsche mark, or Zurich, which incidentally is currently happening - just look at the EURCHF) and that no matter what happens to the US, no matter how many trillions in debt the US will have on its books tomorrow, the idiocy of today (which again is completely Fed driven) will continue. Pento at this point throws the ball in Burnett's corner to explain why this assumption is so irrefutable, to which the "moderator" basically tells Pento that "he is so rude" because he doesn't buy CNBC's Kool Aid assumptions, and that "he has gotten her temper up by being rude after she has done nothing but ask questions." Questions which, of course, are presented as statements of fact, and precisely the fact that works with CNBC's, and of course the administration agenda - the oldest trick in the media book.
Yet the piece de resistance is some guy named Joseph Balestrino who works as a Fixed Income market strategist for Federated, opens his mouth and to much CNBC praise says the most moronic thing ever uttered on cable TV (at least since the last Bernanke/Greenspan testimony): "nothing is in a bubble when people want to buy it." Yes.... You heard that right. Although maybe he is right, and everything in this world is insane when these kinds of intellectuals (we wonder if Mr. Balastrino has a Ph.D.) are not only are allowed to run money, but asked to come back to CNBC and feed the public yet dose after dose of the administration's version of the "truth."
Mike, you are always welcome to tell the truth on Zero Hedge. Which is much more than we could say for that other guy, whose Bond Fund at Federated somehow manages to pull a 1.31% gross expense ratio, for a whopping 3.81% return after taxes on distributions.
Full must watch clip below.
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That's why women should stick to making babies...too much emotion, not enough intelligence.
And I am extremely tired of the UST safe haven BS. Pento hit it head on, they are until they aren't, and then it's too late. Exter's Pyramid is all one needs to know.
Terribly sexist comment. Erin is merely a shill for the GE/Financial Service cabal. I'm sure they are under strict corporate mandate to be positive. All of the other ppl on CNBC right now are under the same mandate and say the same absurd things.
Who knows what the producers were whispering in her ears.
And while I thought Pento was right, he was rude at times.
The women are dumber then the men, did you hear Sue talking with \peter schiff the other day ?
There was a good reason why women where not aloud to vote.
Assinine. It's the MEN who have trashed our economy. What a wad.
men also created the economy
http://www.youtube.com/watch?v=mEJRwIf1FF0
You also where not allowed to vote if you could not use then/than properly. Where you (sic) that day from school?
/Pedantic asshat off
"There was a good reason why women where not aloud to vote."
This, from someone who isn't smart enough to spell (or use some sort of spellcheck)? How's that egg feeling? Or, are you just playing in character, Spitz?
sepll cechk is for itdios.
Konw waht I maen?
When attempting to be superior and clever Capitilaztion , spelling and punctuation are your friend. Or at the very least spellcheck! How's that clever working out for you?
Pento came across as exasperated, but not rude. Erin kept stepping in, when she didn't like the answers. She better hope she keeps her job CNBCraptalk, because being rude to your guests does not look very professional.
Pento came across as exasperated, but not rude. Erin kept stepping in, when she didn't like the answers. She better hope she keeps her job CNBCraptalk, because being rude to your guests does not look very professional.
That's how I saw it. Rather, he was trying to rush his whole position BEFORE she interrupted him. This is the basic tactic of the talkingheads, to ask the question and then, because there's no simple answer, not give the respondent sufficient time to elaborate. This, I believe, is why Pento pushed hard. If you gets stopped midstream you can lose your entire point/momentum.
"That's why women should stick to making babies"
Thank you for openly hating me so that I know who and what you are now.
they are only joking. or frightened
All we really needed to know:
That was indeed a volume and a half. Thanks Rocks.
The moron that posted that comment obviously was born without a mother or has as oedipal complex and wants to keep her in the bedroom and out of the voting booth.
Totally uncalled for sexist shit. Thanks for always being here MsCreant, a great voice of reason and way too smart for the new group of imbeciles posting here. How dare people junk you.
Tyler-time for this junking system to change or get a moderator. Figure it out.
I agree. Policy: No junk can be left without leaving a comment. I never do.
They are cowards who junk 'n' run.
"That's why women should stick to making babies...too much emotion, not enough intelligence."
If you're trying to be humorous you failed, and if you're sincere you are pathetic.
I challenge you Conrad Murray, to name a single woman who has helped gotten us into this economic mess - 99% who contributed to it were men.
Aphrodite - Started the first arms race as potential suitors tried to capture the sun and moon for her. Only to be followed by numnerous fiscally irresonsible women:
Helen of Troy - Look at all the money spent fighting over that whore.
Marie Curie - Appropriated the first bullshit study grant. The practice was later perfected by Rachel Carson.
Susan B. Anthony - That bitch spent so much money they created her own fiat coin.
/sarcasm
Fast forward------ Nancy Pelosi.
No Condoleeza Rice? (she managed to give two major groups scars- women AND blacks)
One could add in Hilary Clinton too. Pelosi's damage is farily minor in comparison.
NOTE: I realize that neigher sex or race has anything to do with fucking up, one can find big fuckups in ALL groups... but, I agree, the initial comment was bad.
Obviously it was all of your mothers that created the problem when they procreated with your fathers and didn't choose to abort you. That would have been a wiser choice.
Perhaps your mother is really your sister.
Chinatown
Aphrodite - Started the first arms race as potential suitors tried to capture the sun and moon for her. Only to be followed by numnerous fiscally irresonsible women:
"Helen of Troy - Look at all the money spent fighting over that whore.
Marie Curie - Appropriated the first bullshit study grant. The practice was later perfected by Rachel Carson.
Susan B. Anthony - That bitch spent so much money they created her own fiat coin.
/sarcasm
Fast forward------ Nancy Pelosi."
Please...........I said name women who contributed to the financial crisis, which are few and far between, the only two I can think of off the top of my head would be Erin Callan (involved at the tail end, didn't create the mess) and Blythe Masters, for naked shorting of precious metals and market manipulation of precious metals.
Colonel Cooper - your few examples of women in history associated with war or negative issues are exceptions that prove the rule - the overwhelming majority were men, men who were responsible for killing tens of thousands or millions and causing untold suffering, it is laughably easy just to come up with a large number of examples:
Adolf Hilter and other members of the Third Reich (how many women were there in that cozy group?)
Paul Pot
Joseph Stalin
Mao Tse Deng
Attila the Hun
Idi Amin
Ivan the Terrible
Nero
Rasputin
Caligula
Uthman bin Affan the Sadducee
i dont hate women, but men are better then women.
At what?
I sincerely hope you're a woman and are, fairly enough, standing up for your sex.
Otherwise, your wife/gf must wear the pants in the relationship.
Some of us are secure enough in our masculinity to stand up to gender bullies and misogynists.
So Zero P...if I stand up for blacks, am I black? If I stand up for short people do I have to be short? If I stand up for homosexuals do I have to be one? If I stand up for Canadians do I have to be one?
I hope you're lucky enough to have a daughter one day, and if you do, I wonder what your reaction would be if her husband uttered a statement like the one you did. If you already have one, then I truly feel sorry for her and any other females in your life.
I don't like to take crap from anyone, be they male or female. You won't have to take crap if you can earn respect, and respect is not earned through insults, demeaning comments, or bullying; those are tactics used by those that feel powerless - which I guess would explain your handle.
Ah yes, the typical 'zero power must mean you have ZERO POWER!!111!!11111111' comment.
No worries. Ive heard it many a time before.
I understand that people come to defend the sexist comments, as well as the racist comments. I just hate to see sexism or racism pushed to such an extreme where one can't make an observation without being labeled as such. Reminds me of a saying 'Whites are the most racist race. Against themselves'. Wouldn't take much to extend this to certain males. Its not about taking crap to your daughter/mother/wife (females which matter to one the most), its just about you realizing broads which aren't part of that trinity are, most of the time, not worth a comment on ZH defending them.
Why is it that when some on ZH criticize the males on CNBC, such as Cramer, Dennis Neale, Steve Leisman, Dick Bove, etc, who except for maybe Steve, can be worse than any of the females, we can be insulting without bringing their gender into it, but when we criticize the females we must bring gender into our insults?
At the risk of seeming rude, Conny, why don't you summon up the courage and offer some of your wisdom to your mother.
I bet she knows what your red ass looks like.
Boy is her voice nasal !!
boy, you are rilly rude and meeeeeaaannnnn to eeeerin!!!!!
It is probably a badge of honor to be asked to leave their studio. It should have happened sooner.
Talk about overdramatic. He was not kicked off the show and she just said he was rude because he interrupted her a few times. As for the debate, what kind of idiot says "nothing is in a bubble when people want to buy it"? No one wanting to buy it happens when the bubble pops, before that people want to buy it out of some irrational belief it will keep being a valuable investment. Pento's point was dead-on. You look at most of those European countries and Japan and you'll notice their budgets and revenues are much higher proportionally so they can afford more massive debts. Japan has the added bonus of some hard reserves and primarily domestically-purchased debt. The U.S. has revenues that are not even 20% of GDP and no hard assets with us relying mostly on foreign debt purchases and the Fed. When we approach the situation he is talking about we'll already be in a death spiral situation.
Boom - bust
recovery - double dip
democrat - republican
tastes great - less filling
Whatever it takes to generate ratings.
Wow, Erin just hit a new low. I've never before seen a "professional journalist" be so rude when making the case of someone allegedly being rude to them.
First, her "questions" were all loaded with her own answers, she never finished them, then gets mad when Mike actually has the gall to question her suppositions.
I'd like to hope the internet will give her one big bitch-slap, but given the average intelligence of her audience, they are instead probably too busy playing internet white knight, soothing her poor ego, like fan-boys do.
Oh well, at least Mike went out on a high note. He should start a blog called Erin Burnett is an idiot.
"B-cups" must have had a bad holiday down in Newport; maybe got jilted by her host's pool boy
Pento should come back on and just laugh as the big "B" gives us her oral dissertation on why it's business as usual in Kool-AidsVille.
I bet 20 onces that "B" was a college class president at Iowa State
Williams in mass ,just helped cramer get his girl into williams
Well…I agree that CNBC generally acts as a propaganda machine to dispense opiates…having said that, in this particular case, Burnett has a point. She was attempting to draw Pento out on the key point of why interest rates are so low now and why they necessarily will rise in the fullness of time (which could be tomorrow). He partly explained this by saying that the Fed was setting the interest rates, but obviously that cannot be the whole story or else they could keep rates low forever, and Mr. Pento did a poor job connecting the dots there. He also kept saying that the Chinese have stopped buying treasuries, which is clearly an exaggeration (and he got exasperated when Burnett called him on it, which may have thrown him off his game).
Bottomline: Pento may or may not have crossed the line into rudeness but he clearly did not make the most of an opportunity to explain truth and justice.
What do you mean partly? Without the Fed purchasing Treasuries, interest rates would not be this low.
Simply put, this is not a market phenomena, but a Fed one, putting the ball (as Michael put it) back into her court to defend. Her only defense was that China is still buying.
Just because she is too afraid to address Fed manipulation (POMO), or too ignorant to understand it, is no reason to lash out at Pento. It only displays her as a shill.
Yes, but she's wrong about the Chinese buying US debt. But Pento wasn't allowed to be right.
Chinese treasury holdings have dropped nearly $100bn since peaking in July 2009.
http://www.ustreas.gov/tic/mfh.txt
She said nothing about net, and made absolutely sure she was talking when Mike did. That way, she didn't have to pretend not to hear it, so in her world (and hopefully her viewers'), it simply didn't happen.
She stated an obvious fact, then called Michael a meanie for arguing against it, even though she ignored his argument.
The lady is a 21st Century Weapon of Mass Distortion.
NotApplicable,
Saying “the Fed did it” is only a partial explanation of the low interest rates on treasuries because if the market decides that the risk of USA default increases, then regardless of y what the Fed sets interest rates at and regardless of whether or not the Fed purchases every treasury bond offered as the buyer-of-last-resort at any given auction, the market price of those bonds will go down and the effective interest rate will rise. The Fed only actually has the power to set interest rates so low so long as the market plays along in being willing and able to continue to buy those bonds.
Burnett’s point was that the market is playing along now, and she was asking Pento to explain why that was true now but will not be true in the future. This is the key question at hand—obviously the buyers of these bonds do not see things Pento’s way, but why? And how will their perspective be altered/fixed? He did not provide a coherent answer probably because he got drawn into an irrelevant pissing contest about the form of Burnett’s question, rather than actually answering it.
Pento made some good points—and most everyone reading this blog gets what he was trying to communicate—but he could have done a much better job reaching the CNBC audience.
Burnett's point is easily answered (well, if she will let you) by a man named Madoff. Easy money gives the appearance that everyone can make money, because even though they know it is too good to be true (some of Madoff's clients have admitted they believed him to be scamming, they just thought they were in on it), just look, everyone IS making money.
Until they aren't that is. Question is, what do you do, play the game (and possibly lose all of your capital), or miss out on the prizes, falling behind the pack?
Pento, et al., are claiming that the portion of the market "playing along" grows smaller by the day as the Fed moves all-in and smart money starts looking for the exits. Eventually the real market becomes so small that it is nothing but Fed-sponsored entities front-running the Fed, which is trapped in POMO hell. ZIRP has become so destructive that even conservative funds, like insurance and retirement, are having to seek out riskier corporate bonds in order to stay solvent. When funds like those avoid Treasuries, how much of a market still exists today?
The simple answer to Erin's point is that what we perceive as reality is belief-based, and as soon as beliefs change, so does our reality. Of course, they know this, and try to work as hard as they can to keep our beliefs safely in the realm of the absurd. That way, when they break it all, absurdity comes to their rescue.
"Pento, et al., are claiming that the portion of the market "playing along" grows smaller by the day "
Please explain then why the total net foreign holdings are actually growing (from $3.4 to $4 trillion, or +17% in the last twelve months), not "growing smaller by the day".
I'm assuming you'll agree that foreign holders are all of the "playing along" type.
Or are foreign holders also fed sponsored entities?
The reality is such that Pento's argument is, for the moment, invalid. Now obviously, that doesn't mean that it won't become valid, in the future, but the question is what will cause it to become valid.
Maddoff's Ponzi stopped when he defaulted. We all know that the Govt bond bubble is a giant ponzi, but apparently, noone has defaulted yet, and investors are still playing along. So what will cause them not to play along anymore? Will it take another 1, 5, 10, 50, 100 years?
chrisina
Madoff's Ponzi stopped when it was discovered. Do the math, trillions of new paper, credit, and debt. No growth in the private sector (tax-paying) economy.
This is the inverse of the growth equation. Unless the rubber hits the road soon, the collapse of the world wide government Ponzi won't take 100 years.
A shrill shill.
its probably more of the story then you think. The Fed has not been audited.
CNBC is an entertainment network that uses news readers as props. And the news that gets read is not the product of hard journalism -- rather, it's a collection of opinions and discussion points. They exist to sell advertising, not to act as custodians of the truth.
Which is why I don't buy it.
Pento is absolutely right, question is timing.
As an aside, I'd like to recommend some of my personal shampoo for Erin.
OK explain how Pento is right. If the country is insolvent, it cannot pay interest on existing Treasuries and cannot issue new Treasuries. HOW DOES THE INTEREST RATE GO UP?
Well, in your scenario of complete insolvency, the interest rate on existing bonds just went to approaching infinity asymptotically as the secondary market approaches zero (this is assuming there will be someone willing to put in a bid at some level).
If there are no bids though, then it is game-over, and interest rates become moot as there is no more credit market.
By jove, I think you may be on to something...
So no one will want the shit no matter what the rate is, cause they know it's junk. And is that where hyper-inflation will come from.
Just tryin to figure this . I'm in const. Not a trader.
If the fed is buying, what is to stop them from buying the entire bond market if they decide to? They print, therefore they are. There will always be a "bid," their bid. When everyone figures this out, (if not sooner) it blows for sure.
Many of you around here are waaaay too nice and civilized. They can tell the story that they are keeping it propped up "for our own good" and feel like heroes about it. They will spin off money until they are caught red handed and then they will spin some more as they look you dead in the eye and say "no we aren't."
The Fed is only interested in providing cover for their owners. These guys have had 2 years to bonus out the real money and cover their bets. Then the U.S. taxpayer gets to clean up the puke off the floor.
But before that day happens, its drinks all around...
Are you kidding me? If you have to ask a question like that, 90% of these articles must be way over your head.
Instead of raising bond yields, the politico's are busy borrowing more USD's from the Federal Reserve.
What more point do you need?
Burnett doesn't understand how the Fed Reserve system and the US Treasury interact!
C'mon,leave Erin alone, she's cute, that's her job. She's the cutest one there.
And Mike WAS being rude. His problem is he can't tolerate stupidity. Which of course raises the question why he's on Kudlow all the time.
PS: She's even cuter when she's angry ;)
Her outfit was way too conservative...perhaps that was the problem.
Maybe she was still mad about sharing the desk with Mandy and her cleavage display this morning?
The problem is cute only goes so far, unless you are a paid hooker (which in a sense could be a term used for Erin on CNBC). Eventually in a normal circumstance a person has to deal with the personality and wisdom/knowledge of a woman as well. Here is where Erin is unqualified and not appropriate for her job at hand if she wants to maintain being an honest and knowledgeable employee to benefit the public.
Unless of course CNBC has simply hired her as eye candy (hooker per se) for the masses. Problem with hookers, they get old fast and eventually thrown aside for the younger and far desirable eye candy.
Erin, hope you have your future planned well and have your investments properly positioned when the real truth you hopefully are smart enough to realize comes knocking. Just remember, the lies you spout/help perpetrate now on TV are hurting countless tens of thousands of people. Is your job as manipulating Dumb Money really worth it?
I thought she was being groomed for the Today show for a bit.
I'm sure all of her comments are under corporate mandate and being led by her producers. Of course, it would be nice if the talking heads knew more about the markets. CNBC has really jumped the shark in the past couple of months.
I thought Courtney Regan was the cutest, but haven't seen her in a while.
COURTNEY REAGAN
http://www.cnbc.com/id/30093288/
MICHAAAAAEL MICHAAAEL MAICHAAAEEEL you are being SO rude! What a damn BITCH! Man I pray for the ceiling to fall on all their heads!
Yeah, if I wanted to wake up to the same old face every morning I'd get married.
Oh, wait...
I guarantee you erin schnoz burnett has huge size 7/8+ feet, ugly enough to match that pasty face, I mean you could fit a dildo or at least the batteries in those nostrils for crissake! And that whinny voice which hits the frequencies of a crying baby, HFS, 2 minutes into the room and I'd smack the spit out of that attitude.
what just 4 junks you freaking groupies?? hahahahahahhaha thx for the confirmation you losers, here, i'm gonna junk myself once for you too, hahahahahahahahahahahahahahahahaha
Joseph's statement at the end strongly resembles the Miss America pageant question / answer session
This is an outrage upon stilts. The reason why the sheeple cannot see that the system is all screwed up and slated against them is because they do not really stop and think. Even the money managers – they don’t really listen. There is no critical thought. This is WHY education is strategically dumbed-down. The majority are lazy. Remember this: the concept of a “middle class” is a new invention. History shows us – there is few aristocracy and the majority are surfs. This is what we are reverting too. I assure you, this is by design.
Pento just got tired of her verbal diarreha.
i cant stand that bitch or anyone else obn that propaganda hub...
Now come on... tell us what you really think! lol
i cant stand that bitch or anyone else on that propaganda hub...
Thing is, the attitude of Erin and the other guy are exactly what the caretakers of this Truman show want the sheeple to believe. All of them are shittin' skittles and know we're so phucked, they don't care at this point whether it's blatantly obvious. They are like the Taliban. They don't give a shit about much except their own warped perverted interests. As shameful as this proves CNBC once again to be, people still watch that channel. What does that say about the avg Joe. Can all of them really be as stupid and gullible as Forest Gump?? Clearly CNBC believes so.
Yea but Forrest was not only a successful businessman...the fucker could run.
and a hell of a ping pong player too.
ROFLMFAO!
There are 2 types of "moderators". Those that look the part, can count on both hands up to 10 and can read off of teleprompters without their eye moving (sort of like speed reading).
Then there are those that actually know something and can think on there feet. Despite what you may think of CNBC, there are some who do know how to think there.
By Ms. Barbie's response, which camp do you think she resides in?
Please don't insult my Barbie Doll collection by referring to "B" cups as Ms. Barbie. Long after Burnett is dead, buried and forgotten, my collection will still be respected. :>)
If you can marker up the dummy on the left with eye liner, you'll have Mandy.
Mandy's great! I'll never trash talk her!!!!! XD
Bimbo Bernett: "I have an agenda damnit, let me finish!"
I saw this earlier and Erin Burnett should be reprimanded at the very least (I'd fire her ass) over her behavior. Incredibly unprofessional.
Get a raise and promotion from her corporate handlers at GE.
"nothing is in a bubble when people want to buy it."
Yep..that worked well in '00 with tech stocks and more recently with housing. people who look to this guy for advice deserve to lose their money.
What a moron
I #uckin swear that all of these morons went to special schools that didn't require math to be taught.
We are so #ucked, it's not even funny.
Nice eyeroll, Mike. Classic.
I thought he was perfectly reasonable. I mean, interrupting is the only way to get a word in edge-wise on CNBC.
In my experience, "finance professionals" will rip you a new one if you make comments as ignorant as Erin. She should be happy that the conversation was televised. The unrated version would be so f-bomb laced she would probably start crying. What a weak-assed ad hominem, Erin. So he's rude, therefore he's wrong? Aren't there any local news stations in need of a weather girl?
Joseph..as a money manager, I have my bid for a single tulip bulb of the Viceroy at 2 fat oxen, one hogshead of wine, and one silver drinking cup...is that a good deal?
not bad. I'm bidding on some trade rights in the South Seas from some guy who knows a guy.
She is also the same one who when DOW was 14K+ in 2007 and started to tank was openly calling people exiting the market LEMMINGS ... openly ON THE AIR !!!
Balestrino manages this fund, with an average bond rating of 'bb'.
http://www.federatedinvestors.com/ffw/funds/fundoverview.do?basketid=4&fundshareid=1525&link=products&ut=unregistered_webuser
He needs another bubble something fierce with that kind of exposure.
dam, that whole conversation brings back unfond memories of the ex. and a certain current workplace biatch too.
i feel for ya, Mike!
Rude? You want rude? Put me on there.
"Shan_ky, Shan_ky, Shan_ky"
I constantly cannot stand when they disrespect the guy with the "unpopular" opinion. I feel like slapping Bartiromo when she acts like that. For fuck sakes give Pento a chance to speak, the same chance you give the phd jackass whos blowing smoke up the worlds ass.
It's alright, guys like Pento, in the end, will be vindicated.
This is a joke and reminds me of a joke...
Why was Hellen Keller a bad driver?
Because she's a woman! Badum CHING!
She can't help it guys... she's only a pretty face covering a black hole.
Nasty, but funny!
You've got to give CNBC props on their campaign of disinformation, I mean, that shit would make even hitler jealous. I like to play a little game when I come home from work with CNBS, it's called "How many fallacies can I point out today".
DOW/S&P500/FTSE/EURO short signal continues :
http://stockmarket618.wordpress.com
I am working on a script for a porno staring Ms. Burnett in which she can only ask leading questions. Is it not true that my perky breasts are the bastion of American Capitalism?
http://www.fanpix.net/picture-gallery/713/1521713-erin-burnett-picture.htm
does this help???
yes, arrrrghhhh. curse you solgundy! i'm changing my mind against my own will... erin was right after all, she was right after all. mike was sooo rude.
i am so dam shallow it hurts.
Nobel prize for journalism. She deserves it.
This is a better pic.
http://i.fanpix.net/images/orig/z/7/z7agkl2degzf2lea.jpg
Now with LOLs!
http://cheezburger.com/View/3942827776
Where's the middle-finger photoshopping?
It's coming..
haha thx
Pento wasn't the least bit rude. Erin needs to watch the interview again to see this.
Pento was making a point by asking a simple question but since it didn't comport with the CNBC script, Erin called him rude.
She interrupted him and didn't really want to hear the point he was making. The difference between them was in who is currently buying US Debt. Erin claims it's investors while Pento claims it's the FED. Well, we all know why rates are so low but she couldn't accept that or accept the viewers hearing that so instead she lobbed the rude ball at him.
She should be ashamed of herself. Lame, very lame.
That broadcast ended with 2 faces flashing contempt. Trust and faith are not what has to be overcome now, contempt must be overcome now.
Contemptuous News Broadcasting Cunts.
http://www.mademan.com/chickipedia/maria-bartiromo/photosgallery/Maria_b... Here are two things I like about CNBC.
I am a patient person, but the stupidity of this CNBC bitch is irritating. Her brother, who is a CNBC producer, helped the stupid bitch to get this job. Now nobody can fire the bitch (not that anyone tried) because of her brother’s connections.
Except for Rick Santeli, the rest of CNBC is one of a kind collection of low IQ morons and really stupid bitches.
That was so fuck'n awesome!!!!!!!!
She says Bento's rude, the debt is 15 trillion times ruder. This talking head slaps wrists for ettiquette infractions, Bento conveys the information that must be addressed to save America.
Bento: 'the fed is setting interest rates, lets be honest. Instead of 5% of all federal revenues, in 2015 it will be 30%
Moderator: 'You have definately got my temper up. You have been rude, and I have done nothing but ask you questions'.
And cut him off, and spit out a demented discredited economics that chirps 'hey our debt gets bought, its all AOK. Wheee!'
This must have been what the "news" was like just prior to the collapse of the soviet union.
It's a shame that CNBC is required to be so biased. I don't even watch this dumb channel (or rarely post anymore) but I think she was asking a reasonable question, though the more nuanced question is WHEN will Treasury yields go up, if ever. I posted a few months ago that I was starting a large position in TLT. Lots of bashing ensued, which is fine. I sold it when it was up 22% (a little early). Is it in a bubble? Everything is in a bubble in my opinion, so getting paid 4% for a few months + 22% appreciation is really no different than buying that retarded GLD (I own coins and bars) which everyone with serious money but YOU (or me, if I owned it) could liquidate while you're still sleeping off a hangover. The sad story here is that governments own the markets and unless you figure out how the government will "trade" (and get lucky, like I did) then you'll always be yelling at CNBC. The question is WHEN. Tell me that. 2 year, 10 years, 20 years?
Is he correct that we go from 5% to 30% in a few years? That does not sound correct - a 500% inrease?
Truth is not the color of the day.
Last week the fastdebt show tore into schiff over his constantly accurate opine, too.
Then some asshat goes to torment the fucking discovery channel?
The secret to keep selling bullshit, is to never stop trying to sell bullshit.
B-cup: "You are so rude"
Pento: Gazed his eyes to the ceiling
LOL
Saw it live- got so fired up I sent the below e-mail.
On Tue, Sep 7, 2010 at 3:07 PM:Afterwards, had a chat with the wife as to why the female hosts all seem so vapid- she said guys want looks over smarts.
You can give Mike a salute at http://www.deltaga.com/contact-us.html
oh he's been rude and the moderator did "nothing but ask her question"........looks like she rebutted his argument and he counterpointed it to prove her wrong..........ofcourse it was too much for her little brain
I always thought peter schiff would be the first person from europac to kicked out of CNBS, what a bunch of f'ing jokers running the show there
You go on someone else's show and act like an ass, what do you expect? He was an ass, cutting her off and saying I don't need to prove my point. He should act more like hussman or rosenberg and not a pompous jerk.
He's probalby been larry kudlowed one too many times. Developed a twitch.
It's astounding how people can be as stupid as that Joseph assclown and get paid to dispense utter garbage and set people up for financial destruction.... WOW!
Erin you ignorant Slut!
The best post on zero hedge ever hands down !!!!!!!!!!! A +++++++++
Where do they get these moronic fund managers?
If anyone has money in a fund managed by this guy - get your money out immediately.
""nothing is in a bubble when people want to buy it." "
so true. tulip bulbs were never in a bubble in holland because people wanted to buy them.
your cia's news service feeding you orwellian horse shit while they mount cameras at every intersection to watch your every move.....those cameras were planned for decades....the oligarchs were waiting for the prices to fall.....next they will be mounted in your homes....expect that within a year or two - especially in government subsidized housing....
there must be war and blood in the streets to fight the monsters of satan....
Tony Bonn I think we could be on the same page...
The UST market is not a market in the way most have been conditioned to think "market". It is an illusion, it's not a real market. It is rigged, by design. The federal government spends money by crediting bank accounts. those credits become excess reserves. those excess reserves are swapped for treasuries because of the yield arbitrage. there is always sufficient demand for treasuries because the excess reserves are created by the deficit spending. our federal government does not need anyone to "fund" its deficit spending; they just spend. and the act of spending creates the excess reserves that funds the spending. the dog is the deficit spending and the tail is the treasury market, not vice versa. same thing with China. China doesn't fund our deficit spending. they send us trinkets and trash, we send them dollars. what is someone supposed to do with those dollars? buy treasuries. No? They don't want treasuries? They don't want dollars? Really? Then why do they keep sending us boat loads of trinkets and trash in return for those dollars?
Think out of the box
I'm English.
How does anyone watch that presenter/programme without realising it's a joke?
Crazy.
i'm english, too. be fair, at least they are more aware of what the truth is in the US. most people in england would'nt have a clue what they were even talking about.
"The video you are trying to access is unfortunately unavailable at the moment."
Sorry and sad emulation of Dr. Goebbels' Propaganda Ministry....
Cramer just called for SLV to $24 before the end of the year. Good, I'll buy more at 14.
For a network with only 379,000 viewers out of a household reach of 97 million, CNBC's propaganga has a long way to go.
http://tvbythenumbers.com/2010/09/07/cable-news-ratings-for-friday-septe...
My first comment here, so please be gentle ;-)
It's a wonder they are on the tube at all! "Lousy" is going easy on them.
What kind of idiot wants to be on that station anyway? A pox on both their houses.
Can someone start compiling videos for the future up and coming viral video "Michael Pento Was Right". I am guessing this will be a main part of the video, kind of like Mike Norman.
Seeing the video, Pento was defintely aggressive. I could see his mind saying - " dumb bitch" all during this time. More fault on his side.
If I had to score the fight, I would say that he was a bit aggressive when he stated the Fed had "duped her" in his first comment, before stating it a different way to give her a chance to respond. In other words, give her the chance to appear duped through her own words.
However, she had already set him up in a trap by then, so I wouldn't call it the first blow.
"we are the worlds educator"
http://www.youtube.com/watch?v=QD19kM-KCIY&feature=related
piss out my ass
"If you can't answer the question, get personal"......where have I heard that before??.....hmmmm.....;>)
ignoratio elenchi ad hominem
Erin: Peter, Just shut the fuck up or I'll use my rolling pin on you.
http://yfrog.com/ei912001sn8j
Peter: Oh no, this bitch needs to go to Wife School.
http://www.youtube.com/watch?v=LgeFdcnvugs
I will need to remember how I feel right now the next time I am remotely tempted to make gay jokes or racist jokes. I can make them, I can know I mean no harm, and I will make someone feel like this.
And no, I know I am in the locker room and have no interest in censoring anyone. But I am a coward if I don't mention it. Feels really bad to see how hated women are, sometimes.
Junk away. I will burn and revel in it.
poof
MsCreant, do know there are always exceptions to the rule.
I am a man, and I have been called much worse, by women nonetheless. You would be surprised what people think of you, women included, when your skin doesn't carry a particular tone.
But, I still don't hate. I workship women who are smart, intelligent and MsCreant.
Thanks for the sweetness. I have posted down below something that is sort of like a retraction, but not. I felt what I felt. I will hold on to it for myself, regardless if I was right or wrong to say what I said above. I don't want to hurt people in this way, particularly if it serves no purpose (I guess I am not above a little emotional water-boarding for the criminal elite).
My reaction is mine. No one is responsible for it but me.
Erin was rude. Pento was pissed. Some of the ZH Neanderthals are trolling again.
The best part of some of these cavemen dribbled down their mother's leg.
Sorry MsCreant. Rude but true.