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Simon Hobbes Destroys GE's Fast Money Puppets
This has to be seen to be believed. Why is it that all the former CNBC pundits end up becoming sensible and rational people: first, and ironically, ex-Fast Money Ratigan, and now Simon. What IS it about the borg brainwashing collective at that TV station? Back to the clip and Hobbes, who on CNBC says: "This is an overbought, inflated market, that could come down quite rapidly", yet pan back to Terranova, who says "Hey Simon now that you are back in the US you have to be a bit of a cheerleader" which is all anyone needs to hear.
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Terradoucha
With the Chairwoman, Macker and Ratigan gone, this is no longer a show but a trying farce with Guy trying to keep some little credibility left. Just look at their track records...
Meanwhile, even the Bright Brit errs in saying the Fed
is still adding liquidity. M-3 has been punting since
Q4 2007 when Mr Market peaked...
Defaults of shadow banks like C, CIT, GE, GMAC, SBAC are simply happening faster than the Fed can monetize debt.
The net result is not inflation benefiting gold, but deflation benefiting the dollar.
Higher gold prices reflect higher real interest rates.
Add 16.5% GDP contraction yoy or 33% durable goods imports production yoy to nominal rates, and we have the highest
real interest rates in the history of the Republic, Civil and Revolutionary War deflations notwithstanding.
The difference between USA now and Weimar in 1923 beside Reserve Currency status is contracting M-3 and Credit from
all the imploding Shadow Banks.
To paraphrase Keynes, not one man in a million understands deflation...
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493
So, why aren't we seeing a lot of deflation yet then? I take it here you see that we can have deflation along with higher gold prices. Is there a site/book that I can understand how inflation/deflation work by themselves or in tandem. Or are they always going to happen together? Just trying to learn here! :)
What happened to the price of gold (as denominated in dollars) in the thirties? Was there deflation then?
Gold is a currency play, it's only the head fake media who'd convince us it's a commodity (an almost entirely useless substance does not qualify as a commodity). Gold does well during times of credit scarcity, like holding cash denominated in FRN's only better.
Yes, gold is real money, and it still declines with deflation.
Look at Dome and Homestake 1930s charts. They both
declined after 1929 and only began to go up when insiders
knew what FDR was going to do. A year after he did it, they flatlined and declined in real terms.
The 75% overnight devaluation of the Constitutional Gold dollar from $20 an OZ to $35 an OZ happened two years after the 1932 multimarket bottom, not before it.
In real terms, the dollar and Dow are down 83% from 2000 peaks.
Let's divide the Dow, the dollar and gold stocks by gold to remove the scales from our eyes:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493
Re "So, why aren't we seeing a lot of deflation
yet then?"
So what do we call a -16.5% contraction in GDP, a -33% contraction in durable goods imports, production and shipping, a -34% drop in gold, a -51% drop in bond yields, and a -57% drop in the S&P, if not a lot of deflation, the most in two generations?
We have not had higher gold prices since March 2008
when gold hit 1033.90 and market leaders realized M-3 growth had peaked. Not many months after that we
had the credit default global market panic.
Sheeple who believe big government can reinflate as usual
with funny free lunch money bought gold and stocks on
the dips and are now wondering what to do with them.
They may be in for a rude awakening and bumpy ride down Magic Mountain if they open their eyes and look in the windows on Main Street Malls or in their pocketbook,
instead of listening to the sunny CNBS market fictions.
As usual, it takes the crowd a long time to figure out
what's happening. They're still conditioned to trading two generations of inflation...
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493
They could sell them to China like the Rs sold gold and silver to the Arabs and Hunts in 1980 and the RC and PBC
to Japan in 1989...
They could sell them to China like the Rs sold gold and silver to the Arabs and Hunts in 1980 and the RC and PBC
to Japan in 1989...
Then why isn't my dollar buying more? When do the prices start to deflate?
I encourage you to expand upon this thesis and see if you can't get it posted as a main article. Would make a good story and great conversation.
I'm not sure what you mean? Aside from wages aren't following inflation. Is that what you mean?
You're wrong about the stocks you listed being banks. They are cash recipient structures and nothing more.
NO! KEYNES WAS A LIAR.
There was one man who understood deflation. Irving Fisher.
If you have NOT read Booms and Depressions.... *READ IT*
Find it in your local university library, if you have a halfway decent economics department, it *WILL* be there. Fisher understood deflation perfectly and anyone who reads that book will understand deflation better than 99.99% of people out there. Deflation makes *PERFECT* sense for the final outcome of what we are going through once you understand that all this "Rararara dollar this, rarara dollar that" and that EVERYONE is being played. If the dollar gains strength and the trade unwinds, the wealth of all middle class americans and a few higher class as well, will be ANNIHILATED and left in the hands of the banks who have been sitting on *CASH* for the past few months.
So check it, they finance the debt, they offer it to the street at a tidy little profit, let inflation fears grip everyone so the street starts taking out debt because "hey, the dollars will be worth less later", but then the REAL purchasing power of the dollar all of a sudden doubles, these companies are *crushed* by the real debt burden. Government debt becomes a greater burden, but hey, they have greater purchasing power because they didn't blow all of the stimulus at the first moment of erection, additionally all of the jobless find the sheckles they're getting for free purchase a bit more and EVERYONE wants t-bills.
Bubbles are made while everyone's looking. The bubble isn't in treasuries, it's in being out of them.
Read Irving Fisher, find him on Google Books. The man CREATED central banking (much to his own shame later in life). He also wrote all of the playbooks the Fed is using.
In Fisher's formulation of debt deflation, when the debt bubble bursts the following sequence of events occurs:
Assuming, accordingly, that, at some point of time, a state of over-indebtedness exists, this will tend to lead to liquidation, through the alarm either of debtors or creditors or both. Then we may deduce the following chain of consequences in nine links:
- Debt liquidation leads to distress selling and to
- Contraction of deposit currency, as bank loans are paid off, and to a slowing down of velocity of circulation. This contraction of deposits and of their velocity, precipitated by distress selling, causes
- A fall in the level of prices, in other words, a swelling of the dollar. Assuming, as above stated, that this fall of prices is not interfered with by reflation or otherwise, there must be
- A still greater fall in the net worths of business, precipitating bankruptcies and
- A like fall in profits, which in a "capitalistic," that is, a private-profit society, leads the concerns which are running at a loss to make
- A reduction in output, in trade and in employment of labor. These losses, bankruptcies and unemployment, lead to
- pessimism and loss of confidence, which in turn lead to
- Hoarding and slowing down still more the velocity of circulation.
- The above eight changes cause
- Complicated disturbances in the rates of interest, in particular, a fall in the nominal, or money, rates and a rise in the real, or commodity, rates of interest.
http://en.wikipedia.org/wiki/Debt_deflationDitto the amazing K Brothers.
Has anyone here made money following their option ideas?
A frustrated sensible person trying to educate a bunch of self absorbed buffoons about the game they are playing. Don't bother Simon, they already believe their own lie.
Word.
couldn't have said that better mate!
Word +1.
One of the regular pundits made mention of the transfer of weath and that wealth going to countries like China.
Simon retorts in frustrated tones that the transfer of wealth will appear in the form of higher taxes, i.e., taxpayers in the U.S./U.K. take the hit.
Same pundit 30 seconds later mentions transfer of wealth to China again.
What. An. Idiot.
Wow! The very end of the video left me with an awesome mental image of a giant personified China stomping around the world buying up assets.
"fe fi fo fum..."
I can't put my finger on it but I feel this Hobbes fellow and I are kindred spirits :-)
clearly that gets a "yo"
lmao
now that's funny LOL
Too bad Macke isn't on that show anymore. Having 4 permabulls really doesn't work...
I stopped watching that show when I realized he was gone. Macke was the only one who made sense -- quick witted and entertaining -- and then Ratigan made sure he stayed focused. That show is toast.
"Dennis, I'm going to speak to you like a child. Just say yes if you understand."
I'm still laughing. Not everyday someone puts them at a loss for words.
btw what's the next support level for the USD because it has broken through 76.00 in after hours trading.
no support until 71.3 IIRC, it's at 75.93 at 11:00cst
when you need to protect your paychecks, you need to protect your paychecks, no matter what.
as simple as that
Correctomundo.
If they aren't talking their book, their talking their paycheck.
That group is sooooo annoying! They actually argued with someone who to an extent has a grasp of reality. No wonder their viewer group is declining...they're all in la la land.
DXY is under 76.
Edit: major winner tonight: BRL.
There is an unwritten law of monetary policy in the United States, embedded in our culture and enforced by our political system and banking mindset. We are hopelessly biased toward inflation. The reason for this is very very simple: our most recent financial calamity, the one that grandpa scares us with at family dinners, is a depression. The guest spoke of the Germans and their warning to the US and to ECB about inflationary policies. The Germans have experienced hyperinflation twice in the past 100 years. His words fell on deaf ears.
Bernanke's principal qualification for the job is his great academic study of what historic event? Anyone? If you guessed "The Weimar Hyperinflation" go to the back of the class.
Bank depositors will get their money if it has to be produced on a color copier in a Treasury truck in front of the bank. Greenspan famously said: "We can guarantee benefit payment amounts but not their buying power."
Got gold?
...unless of course gold ownership becomes illegal in the USA again. The right to own gold isn't exactly one of those "self evident" rights as far as US laws are concerned.
so uh... Got silver? Got oil?
gold ownership is one of those self evident
rights as far as the constitution is concerned...
the dollar was defined in terms of a weight
of gold....it is only through blatantly illegal
terrorism that gold has been threatened
because it threatens the nazi ideal of a
goldless currency....
read hitler on gold.
The constitution is only good if it's being enforced. They stopped doing that some years ago.
About 2 months ago Justice Scalia said, "The Constitution is essential dead" when he was speaking of judicial activism ruling the day.
Dollar was defined in terms of silver, not gold. Originally based on the Spanish Dollar.
Bingo.
550.209 Spanish grains at .93055 fine.
Any reference to a "dollar" back then meant this amount of silver.
It's as if America took it's coat check ticket back to the coat check girl and said,
"Here's my ticket, can I please have my coat?"
and she said,
"Why sir, the government came through here, took all the coats and passed a law that now states that your ticket IS your coat!"
Money à la Magritte, "Ceci n'est pas une pipe."
There is an unwritten law of monetary policy in the United States, embedded in our culture and enforced by our political system and banking mindset.
I will put a caveat on that. Since 1913.... There has been an unwritten law....
I understand the idea that we are trending towards hyperinflationary depression, and the use of the example of the Weimar Republic. However, where we are now is far worse. The Germans did not hold the reserve currency of the world in their hands. As I understand it, it was a controlled demolition in a strategic attempt to end run around the war reparations imposed by the Versailles Treaty. Where as what Bernanke is doing is lighting the world economy, and the greater sociopolitical status quo, on fire in a desperate but doomed attempt at reflation. Germany was a controlled burn, and the situation we are staring at in the US and globally is... unparalleled. The Germans always planned to junk the currency at the end of their gambit. Is this Bernanke's intent. Amero? Even if the Amero works for the US, and WWIII isn't started by creditors who thought they were going to win the game, the world economy will be in utter ruins with governments falling like flies. One world currency paired with a jubilee? Tell me the way out here? A hyperinflationary depression is a trip to hell, and that's where the Fed is taking us. (DXY just broke support!) We are not in Kansas anymore, and the Weimar example is shaky next to the US today.
there has been no monetary deflation ever
in american history since the late 1920s /
early 1930s....the fed must inflate at all
times - that is the intransigent imperative
of debt based central banking.
Do you have a source for that Greenspan quote?
Podcast of this episode has yet to be posted on iTunes. They're usually there by now. That's weird.
Your comment system really sucks.
Since this rude comment of yours was preceded by no less than 5 attempts on your part to post a comment containing only "x" or "xx" in the body, I assume the meaning of the phrase "held for moderation" escapes you. Ironically, while intercepting these comments and refusing to post them causes you to opine "your comment system really sucks," it is exactly this same behavior by the comment system that prompts me to exclaim "I love our comment system."
They are kisses, Marla, not merely "x"s and "xx"s. Did he also send "o"s?
No. I filed internet sexual assault charges first.
*claps*
Brave Girl, LOTS of Hugs and Kisses. Well Said. carry on the good job. How do I send a mail to Tyler? The mail would contain the ground reality of my country.
Will contribute,too. If not this month,definitely next month(got to pay off the credit card guys first :) ).
Cheers
Siddh
See? that's why I'm proud to wear my ZH T that cost me $400 million USD/$20 EUR.
And now I know why my previous comments were censored...Ms. Singer thanks for confirming the fact that nowhere are we safe from bigotry these days...your people will deny the truth until the day they squeeze the world dry...
This is beautiful.. these guys just cannot get their collective heads out of the GE ass with the exception of Guy.
please note to all, stop watching that show...
if ratings are down 37% it won't take much more of that before sponsors stop showing up to the party.
it is comic relief to watch clips on the net though...
lets just not give them tv ratings.
The great thing about Simon coming on, is he's unabashed at bashing the muppets. Now if only he could confront and trounce the script-writers.
The other guy: We got a society that is completely fooled out the ass and you want to come over here and muck it up.
Simon: Well we on the other side of the pond like listening to reality once in a while, you on this here side don't have a clue what reality is!
I had to repost this from the whatsupwiththat blog;
Cassandra King (14:05:49) :
Its a nice speech isnt it? But there are a few incorrect assertions in the presidents speech, he makes the basic error of confusing actual reality with a constructed artificial reality, its the departure from reality which is a little disturbing, more so when you consider this isnt me or you engaging in a flight from reality like buying a lotto ticket, it is the most powerful man in the world under the illusion that the words he speaks are true.
There is no sea level rise to speak of, there are no refugees fleeing some kind of anthropogenic global warming catastrophe because there are no effects from global warming.
There is no increase in violent storms/typhoons/hurricanes, the polar ice caps are stable, there is no tipping point on the horizon, no death spiral or irreversible catastrophe looming, there is no global warming because the planet is cooling and its as simple as that.
Obamas speech claims to present actual events whereas in fact he was talking about events yet to happen based soley on computer models of what may happen if the computer models are correct.
In effect the president is lying to us all, the leader of the western world telling lies before the UN.
What have we as a civilisation come to when the most powerful man in the world with instant access to the finest scientists and scientific institutions the planet has to offer and he cannot tell actual reality from a computer model prediction, has he not been told that the events in his speech have not actually happened yet and there is no real evidence they ever will happen?
The president talks about “carbon pollution” yet atmospheric CO2 is the key to life, a gas essential to all life on earth isnt a pollutant in any sense, when you cut to the chase its that simple, CO2 is life and it means life, it is no more a pollutant than O2.
I was left with the feeling that unless reality comes a knockin on the whitehouse door soon then we are all screwed.
Dont you get it....we need a new industry, new growth, a way for the big congolms to make a killing.. all mandated by new carbon laws in guise of saving the world. He has to belive it or it wouldnt ring true.
Thats why they have jumped on this so fast, enough science to make it plausable...
CrapTrade and 0 Healthcare will destroy what's left of the middle class which grew this economy as savers, consumers and marginal investors.
The latest Sunspot figures show a minima approaching that during the ice ages. Global warming a fraud used by politicians to raise taxes...
i love it when these flat-earthers get all freaked out at POTUS lying his face off. I suppose you believe that Saddam was responsible for 9-11 too. Global warming is a misnomer - it's called climate change and all the evidence is in. Oh, I forget that the planet was created 6000 years ago and Adam and Eve had a dinosaur petting zoo. Whatever, I'm just being grumpy, sorry if I'm being rude / off topic.
>>it's called climate change and all the evidence is in.
OK, let's see the evidence of anthropocentric global warming. Hint: the movie, "The Day After Tomorrow" does not count as evidence.
Since you apologized, I will give you the civil response. Evidence is most certainly *not* in, if your premise is that CO2 is currently causing calamitous change. That climate does change is well established, that human activity can stop/reverse this process is the stuff of skittle passing unicorns. The Priests of the Temples of Syrinx that you obviously prefer for your revealed truth have been shown repeatedly to have a penchant for forgetting their pants in the morning.
Because, of course, the climate of the earth has not once changed in 4.5 billion years, right?. That is, until human beings started lighting everything on fire.
Would we be better off if NYC was under a glacier a mile thick.
No, wait. Don't answer that.
Open your eyes, man, they're trying to control Global Warming. Get it Global. That's U.N. Commissars code for telling us what the temperature is gonna be in our outdoors. Let it warm up I say. See what Ban Ki-moon thinks of that. We'll grow oranges in Alaska.
Hey, I remember that show! I used to watch it years ago when it was not just propaganda. The line-up has sure changed since then.
They remind me of Van Halen with Sammy Haggar. Scratch that, make it Gary Cherone. Same name that used to mean something, but now irrelevant.
Its gonna be tough to top the Van Halen analogy, but watching Fast Money is like reading a story or watching a movie with no conflict. BORING!!! Nothing happens.
5 people 'arguing' about something when they all have the same views. What's the point? Without MAcke and Ratigan there are no true antagonists. Can't have a good drama without PLAUSIBLE antagonists.
Another analogy - it's like watching Superfans (DA BEARS!) but being a Packers fan. Why bother?
happy little clouds, happy little clouds, happy little sunset...
signed, Ross?
and I'm just going to put a happy little tree here... he looks lonely so let's give him a happy little friend...
god I miss Bob Ross... a joint, a bag of Doritos and a Bob Ross marathon used to be a great sunday. Now I read research reports and GDP projections... What the hell happened to me?
Holyshit; I've become my father... My head just exploded....
Question
Is it possible to have a equities and commodities crash, AND a rapidly devaluing dollar?
I was talking about this with someone today, and we both felt it was near impossible.... unless the next flight to safety avoided Treasury offerings?
Thanks.
A rapidly devaluing dollar will tend to push up equity prices, so long as external investors feel that the stocks that they are purchasing will be for companies that actually will manage to survive the process. At some point, however, investors lose faith in the viability of any company to survive in a rapidly disintegrating economic system. At that point, there are an insufficient number of external buyers to purchase these assets, while at the same time, valued relative to the dollars, the stocks have become collectively too expensive for American investors to purchase. American investors, also fearing the same income, attempt to sell, sell, sell in order to get out of a new hopelessly overvalued market and the market crashes again. Commodity prices, now trading similarly at generational highs (because commodity and equity markets, normally counterweight, are now synched due to devaluation), reach a stage where the prices have effectively crushed the economy, reducing demand to near zero. Businesses fail for lack of raw materials, and the same crash that takes down equities also takes down commodities.
This was almost identical to what happened last year at this time, save that there was a massive flight to treasuries, pushing the dollar back up. However, we've now introduced several trillion dollars worth of new dollars into the economy, to the extent that the US is now replacing Japan as the carry trade of choice. The next flight to quality probably won't be to treasuries, at which point you easily get all three conditions of your scenario.
Don't omit the nuclear factor. When TSHTF plenty of rebellious children will flee home to Uncle Sugar to guard their wealth from the hordes. Guns and gasoline are the bottom line. The dollar can always rebound in the context of a crisis, and those extra dollars flying around will be gobbled up. Not a boast, just a statement of fact.
depends on whether you're counting PMs as commodities .......
yes they can occur simultaneously.....
you have described the advancement of economic
collpse and depression....
as the dollar rapidly looses value price signals
become so latent and distorted that economic
activity slows and ceases altogether...
stocks and commodities can have no value when
the medium of exchange is nothing but fancy
toilet paper....
you should be valuing stocks and commodities
in terms of gold to get better valuation...
dollar debasement makes valuation of stocks
and commodities problematic and eventually impossible....
Does the bid under treasuries (see record 3x for recent auction) agree with the rapidly tanking USD?
Just seems like it makes no sense?
I'm easing out of run up stocks, but ... into what?
This is the most interesting comment. I am starting to look for a contrarian play based on the action in the treasury market...long USD.
I'm thinking at some point soon emerging economies step into support the dollar (this may happen before the 2008 lows given the state of the global economy). This fundamental support scares currency traders, and we all know short USD as the most crowded trade right now, seriously find me a dollar bull, this fuels a huge technical recovery/short covering in the dollar on the back of the fundamental support similar to the surge in equities off the March low. The $/stock correlation holds up and we get... USD up strong -> stocks/commodities tank hard -> general flight to safety -> further rally in UST -> treasury traders laughing wondering where everyone has been considering they've been bidding the 10yr at the "low low" price of a 3.45 yield and will watch them run back to the low 2's.
The whole chain of events is hypothetical and speculative...with the exception of the end cap, treasuries have a bid, why? I think its because they see this chain of events. The bond market is always right, well at least compared to the stock jockeys. And that is why your observation is so interesting to me.
Nothing so dramatic as a hyperinflation that destroys the entire US economic system is even close to possible (today). The "huge" move we're talking about is a 15% rally in USD, 20-30% sell off in SPX/commodities, and a 100-120 bps rally in UST.
Get a freaking grip you guys.
It does when you have the Fed debasing the currency, printing dollars to put a bid into the treasury market. It props up the T market and weakens the currency.
That's a very intersting question to ponder.
While the probablities are still low, I could see a scenario where those conditions could be present:
1. Money printing continues at a rapid pace, but no credit creation occurs. Unemployment reamins high and wages are contracting.
2. Political leaders continue to make bad decisions regarding trade. Tire tariffs turn into tariffs anything labeles as "impoted for Wal-Mart".
3. International leaders are pissed with both trade and debt repayment (not) issues, and decide to adopt an alternative reserve currency to the dollar. The latter is not even included in the global reserve basket. Oil starts trading in EuroDragons. The first coin is a panda body with the face of Angela Merkel attached to it. She's eating a salad.
4. Flight from the dollar ensues after trade war salvos are waged, causing panic in global currency and equity markets. Americans are pissed becuase not only are wages lower, their clothing, gasoline, and Coach purses are high because the import tariffs were passed though to "save American jobs". After being fleeced from the money printing/moral hazard thing, they trust the dollar less than than they trust their congressmen.
5. Instead of a massive flight to Treasuries, foreign entities stay away-- and American citizens decide they would rather hide their capital in precious metals. Other commodities, however, crash because global trade contracts from trade disputes.
6. U.S. authorities would love to raise interest rates, but they still have a ton of Tresuries to issue and they need to preserve jobs, as they begin to figure out there's a downside to waging trade wars.
The scary thing? We were miles and miles away from that scenario 5 years ago. We are really not too far away from it now. A bad (politically motivated) decision here or there, and we could royally screw the pooch.
Is it just me, or do these "shows" on CNBC look a whole lot like SportsCenter? I mean, what's up with the pens - these people aren't writing anything!
they are for the same reason why the anchorette
was wearing glasses - that studious / intelligent
look:
i am not real economist / financial analyst but i play one on tv....
"There are two kinds of people in this world. There are bullies, and there are nerds,......
oh,... and hot Asian chicks.
Yeah, they'll do what you want.
You better believe it buddy, they will do what you want. Because they know what you want.
Oh, oh, don't be afraid, don't be afraid, I won't hurt you. Me big American man."
Peter Griffin
anyone else is getting annoying pop-up window saying "This requires running AC_Runxxxx.js". And i have to kill 2 of those before Zh web page displays.
Yes - I get the same.
Started today - on both Vista and XP machines.
Problem on the server side I think.
Yeah, same here. Not only twice, but twice for each item I click to read.
WTF is up with this new-fangled pop-up?
No such problems on my mac os x
Yes, this started yesterday and is quite annoying...
I am getting it also and it takes more that one zap click to get rid of it
What is REALLY funny, in a creepy kind of way, is that this segment of the show is called the "Prop Desk"...
They got rid of Dillian Ratigan so they could run the market up. They didn't like him because he spoke truth to power and he could have messed up the bull run. Now they bring in this guy Simon, what gives? Plausible denyability? Or controlling the market?
DR ran clips of HP as Chmn of GS begging Congress to kill Glass Steagall regulations, eliminate the net capital riule
then getting down on his knee to beg B Boxer to pass
TARP, TELF and PPPIP Budget Pork without reading it.
The only thing DR apparently left out was that HP paid no taxes on the sale of $480 M of GS stocks that went into Treasuries...
DR also ran clips of AG, HP and BB saying derivatives were no problem, actually stabilizing the financial system, even as they were defaulting and blowing AIG, FNM and FRE out of the water...
Nads is bullish because protection from faliure is cheap....but... nevermind...
isn't that what started this mess? CDS's meant it could all come crashing down and no one would get hurt, or so they thought...
no promblemo, jess buy dis leetle put wid dat overpriced stock an everting gonna be a-ok, amigo!
counterparty risk? not to worry, uncle sam guarantees everything.
*head explodes*
They are not bullish so that is why they closed down
These guys make Dennis Kneale look (and sound) smart, which is no small feat!
Now that I think about it, if Dennis Kneale were to leave (or be fired from) Power Lunch in order to join Fast Money, it would actually increase the average IQ of both shows!
hahahohohehehihihaha
This also has to be read to be believed:
Going after ACORN may be like shooting fish in a barrel lately -- but jumpy lawmakers used a bazooka to do it last week and may have blown up some of their longtime allies in the process.
The congressional legislation intended to defund ACORN, passed with broad bipartisan support, is written so broadly that it applies to "any organization" that has been charged with breaking federal or state election laws, lobbying disclosure laws, campaign finance laws or filing fraudulent paperwork with any federal or state agency. It also applies to any of the employees, contractors or other folks affiliated with a group charged with any of those things.
In other words, the bill could plausibly defund the entire military-industrial complex. Whoops.
Rep. Alan Grayson (D-Fla.) picked up on the legislative overreach and asked the Project on Government Oversight (POGO) to sift through its database to find which contractors might be caught in the ACORN net.
Lockheed Martin and Northrop Grumman both popped up quickly, with 20 fraud cases between them, and the longer list is a Who's Who of weapons manufacturers and defense contractors.
POGO is reaching out to its members to identify other companies who have engaged in the type of misconduct that would make them ineligible for federal funds.
Read more at: http://www.huffingtonpost.com/2009/09/22/whoops-anti-acorn-bill-ro_n_294...
Sounds like that Brit has missed the market rally and is peeved off
i see dead people. i see tanks and fires and tyranny. i see banksters hanging from lamp posts. i see blankfein high-fiving satans' minions.
http://the-end-time.blogspot.com/
For the love of the dollar, will the Fed announce the end of QE tomorrow?
Followed by a market crash? Or will it just be a market decline for now?
Or does the dollar continue its downward spiral?
Take it from a citizen of a country that's much further down the slippery pole of empire, America. God bless ya
a slippery pole will be the only way to earn a living in America soon I'm afraid.
The end is nigh.
I am Chumbawamba.
I see a bad moon rising ; I see the end is coming soon .
Everyone has an ulterior motive , just need to catch the parties "line" , and run for your life .
http://www.cnbc.com/id/32979103
Toilet shaped recovery?
Is doom is the only game here? Dont get me wrong, maybe your analysis is right and it is indeed all gloom and doom but when all the commentaries and comments serve the purpose of validating each other rather trying to make a debate of it, the conclusion can suffer !!
In other words if there are people who have different opinion then quality of analysis would improve. And it is not as if there not people who have contrary opinions, maybe just that they are wary to post here because they would be mocked at here!!
You people at times offer great analysis and I hope you can make it better.
...And this from Bloomberg:
Michael Feroli, an economist at JPMorgan Chase & Co. in New York and a former member of the Fed’s research staff.
“Probably two thirds of the committee is concerned that being too quick to embrace the stronger growth story could lead the market to price in sooner rate hikes and tighter financial conditions than they would like,” he said.
Wouldn't want to be too quick to "embrace" a story, fiction, fairytale---lie.
Talk is cheap and listening worth (even) less. If any of those "Fast Money" talking heads saw a gold mine on Route 4 on the way to Englewood Cliffs, do you think they would proceed on to the studio and tell you about it? I'd be burying the shovel myself, but then I saw Fred C. Dobbs decompose.
Badges? We ain't got no badges. We don't need no badges! I don't have to show you any stinkin' badges!
It's on Route 17, not Route 4. And you wouldn't pass it on the way to CNBC headquarters on the way out from the city even if it was on Route 4.
Good catch, but I see you got the point! In "The Graduate", Benjamin's Fiat went the wrong way across the Bay Bridge, and it only added to the shot. My memory is very Dali, persisent and melting.
CNBC would do well to bring all of the ZHers under its tent and start a new show for the bears. Mainstream the opposition in order to neutralize it. "Let those bear scum try to get ratings like the rest of us, " said the Fast Money host, "then they'll see what it's like." Project Mayhem, Chumbawumba, Gordon Gekko, Robotrader, Tumbling D, Assetman, the list goes on - what a Power Lunch show that would be. Invite guests like Hank Paulson, Blankfein, etc. for "Interviews." Verbal executions. The mind reels at the revolutionary possibilities. Maybe "E" would take it on.
Sounds yummy!
Stop with this propaganda already. All GE networks are run by Obama WH and paid for with our Taxes....Its paid program/content of nothing but BS. GE stands to make millions on all of new policies. buy GE..
They started floating the idea of bailing out the papers.Soon Obama will own THE WORLD he just needs minnie me
Who said, "Boss da Plane"
More noise from ignorant talking heads. Even Hobbes said he is unqualified to pick a stock or a sector. They're a bunch of photogenic newsreaders with smart-aleck comments. Why would anyone believe a word they say?
actually, they remind me of a class of middle-school- age truants........havin' a circle jerk.....
The Whore rides the Beast.
Did you see in this same episode they abbreviated Rick Santelli for breaking news?? The news was at 5:14 it officially changed to fall.
Herve villechaize ,thax goog
This is unbelievable...I mean I read robotrader, but I didn't know he also wrote for WSJ. I guess his posts are spot on...
http://online.wsj.com/article/SB125366502247832417.html?mod=googlenews_wsj
I'm sorry to be repetitive but...
"Dennis, I'm going to speak to you like a child...Just say yes if you understand."
-Jeff Macke
please help.
i keep getting this message when going to zerohedge only.:
this page requires you to run
RunActiveAC.js
what is that?'
it started yesterday.
whats your browser?
I am getting the same message about ACTIVE A-C. Browser is IE
- same here...pissing me off.
i turned cnbc off quite a while back. it's infotainment. the uber-bullishness is galling. all i can say is ....
"...playing a game of chicken." Love that line.
nice clip but why do you keep promoting CNBC by featuring links to their site? Seems to me to be a contradiction. Why not feature clips from the less viewed but "better" (e.g. anything is better than CNBC) networks such as Bloomberg or even FoxBusiness or for that matter the Canadian business channel BNN.
This video (sorry guys) makes Americans look like they were all bashed on the head at birth, impairing their ability to think or reason.
I love the "you're in the home of capitalism" line that the f*ckwit spouted. That is pure gold, I'm suprised the Brit didn't soil himself on that one.
glad you posted this...SIMON was AWESOME on fast money! i'm glad to see this point of view on tv...apparently GE finally gets it....assuming he is put on tv in the states
Shocking how reality seems like another dimension, especially when it is delivered in clear short sentences in your face. CNBC is the narcotic state of forever plenty; no time for the natural order of ebb and flow that rules our bio-dynamic existence. When the balloon breaks , we must blow a bigger one; it's all hot air anyway, don't we agree?
turned off cnbc a year ago...and much happier
Hey GE is the greatest amercan company> After all, it was created a run by the greatestest mangare ever Mr Jack Welch. And to enforce it's will, it bought a massive media outlet CNBC to make sure the propaganda was thorough. GE has received 300 billion in loans and guarantees from the taxpayor. Is this taught at Harvard, Yale, NYU, Columbia, Penn? (The worlds greatestest biziness schools. hehehe). The major fraud exposed here is the american education system. Respnsible for 50 trillion in global losses.
Hey....watch it with criticizing the Penn grads !! We are second layer SHARTs.....silent but deadly influences on mathematical models that should always be valid under every circumstance known or unknown to all mankind in the Galaxy.
CNBC has become the all Oblame healthcare, global warming, stimulus 24/7 cheerleading squad, oh, they slip in market news when time permits.
Ratigan: You want answers?
Hobbes: I want the truth!
Ratigan: You can't handle the truth!
When did Hobbes start giving a sh*t anyway!
The end is far from nigh Chump-a-wumba!
Every time a dumb American tries to take on a smart Brit they end up skewered, roasted and served up for dinner with a nice Chablis. Hey, Brits don't even have to be all that smart, it's that bloody accent. Much better if they'd invited on a Canadian eh? or an Alabaman, even with an IQ over 200 they'd still come across as dumber than a bag of hammers. And forty something men with ponytails have no place on national TV, you know what I'm talking about comic guy.
Tim Seymour is trying single-handedly to hold the market up by himself. The desperation is so transparent. He must be very long.
Long and wrong as the Hobbesian Dilemma Dynamo exposed...
Cash for Energy saver fridge? Yes, run and buy your new GE fridge parts from China and assembled in Mexico...
Last week the FED expanded its balance sheet by about $80 billion (H4.1). These reserves were lent to the big banks at .25% rate. The banks inturn bought 2 year Treasuries for a nice 1% yield profit. Another successful $80 billion Treasury auction sends the market ever higher. An unending cycle of good news for big government and wall street.
This guy will never be at USA of CNBC again, he made the hosts look like idiots with his knowledge of what is going to happen. We will never see or hear from him again unless we go to Britian.
Tim Seymour is a total lick
They don't like Phillipa Malmgren (A former Bush flack!) either (She's been consigned to CNBC Europe ... where the rest of the Bears go.)