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In Today's Round Of "Guess The Macrosievert Emission" We Have Fred "Napoleon Dynamite" Mishkin

Tyler Durden's picture





 

Everyone's favorite Iceland expert, Fred "Napoelon Dynamite" Mishkin was on Bloomberg TV today. He said a bunch of stuff. None of it mattered, for the simple reason that as has been now confirmed beyond a reasonable doubt, Mishkin will say anything that he is paid $___ to say. In other words, only those who enjoy experiencing subdural hematomas from absorbing macrosievert emissions of hypocrisy, should subject themselves to the following clip. Incidentally, speaking of emissions levels, after observing the warm glow emanating from the former New York Fed governator's epithelial covering, we open it up to debate: just what is the halflife of the "healthy and perfectly digestible" macrosievert emission from the "Dynamite's" skin?

For those who are confused why Mishkin is the butt of jokes in professional and academic circles, the following clip (referenced previously on Zero Hedge) should make it all too clear.

So anyway, for those who enjoy cackling uncontrollably, below is Mishkin's latest public humiliation. In it among other things is the following discussion of soon to be paywalled Krugman- "Paul is a great economist, by the way, and completely deserves his Nobel Prize." No further comment needed.

On Paul Krugman:

"There is an issue, and this has been a real problem in terms of some of Paul's discussion during the last couple of years, which is that expectations really are key.  One of the important lessons that we've learned over the last 30 years in macroeconomics is that expectations and how people assess the future is key to what they do today.  For example, if you have expansionary fiscal policy now, people are actually worried that you are going to end up taxing like crazy them in the future because you are not dealing with long run fiscal sustainability, the expansionary fiscal policy will not work as well.  That's been a big problem.  What we actually need right now would be long run fiscal sustainability, actually contraction there dealing with entitlements, which would give us more room to do fiscal expansion.  Unfortunately, Paul has not discussed that issue, which is very disappointing.  I have to tell you that in this context--Paul, who a great economist, by the way and completely deserves his Nobel Prize--on this policy issue, he really has pushed us back where our level of understanding in macroeconomics doesn't say that there's no effect from fiscal policy, but under certain circumstances actually expansionary fiscal policy may not work or could actually be contractionary.   There are cases where actually contracting by actually getting your long run fiscal situation in balance can actually be expansionary."
 
On the stock market's role in recovery:

"I feel that people focus much too much on the stock market.  Particularly during the crisis, the issue was not getting the stock market up, it was preventing the financial system from imploding and it was really the bond markets which were much more important.  There's this wonderful quip by Paul Samuelsson who said that the stock market has forecast nine of the last five recessions, so it is a piece of information that is important, but the health of the financial system is really the key element in terms of getting things working again.  We still have some serious problems, not so much in the financial markets for corporates, but we still have problems for small businesses in terms of credit and the consumer still has issues that they have to deal with."
 
On headline inflation vs. core inflation:

"In terms of what you should care about, it should be headline because a big component of our spending, and actually what we spend on every day, tends to be food and energy, which is actually cut out of headline and is what the core is basically---headline excluding those two items.  On the other hand, what we really care about in terms of policy, is underlying inflation, the trend in inflation.  You don't want to react to blips in temporary movements in prices in food and energy if in fact they're not telling you about what's going on in the long run.  For example, in 2007 and 2008, we had headline which was moving up tremendously.  A lot of people said inflation is a big problem.  The Federal Reserve said basically said no, underlying inflation is not moving up like that and our big problem is the financial crisis.  In fact, during that period with headline moving up, the Federal Reserve was cutting interest rates very dramatically, and that actually was the right thing to do.  It still wasn't enough to keep us out of this mess, but it certainly was the right thing to do, so you really want to focus on something that is a deeper concept."
 
"There's one important difference between the Europe and the U.S.  In the case of the U.S., it turns out that core seems to be doing better in terms of telling us where inflation is going to be in the longer run context.  Not is true in Europe.  In the U.S., headline inflation heads towards core.  In Europe, that's actually not true.  So the problems of having higher headline inflation is in fact a more serious problem for them than for us."
 
On if the Fed can get in front of the debate:

"I think the Fed actually always has to try to be ahead of the curve and look forward and make predications--and move before something has actually happened.  When I was in the Federal Reserve in August 2007, the economy was actually very strong at the time.  That third quarter was a very strong quarter, inflation was actually going up.  The financial crisis hit on August 7 and the Federal Reserve then started to ease policy in the face of data that was actually very strong.  The people who understood financial crises said that this is a big problem, it's going to be a big drag on the economy and we actually have to act preemptively.  That's what you're always trying to do.  The problem is that forecasting is a tough business and that you always don't get it right." 

 


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Mon, 03/28/2011 - 17:54 | Link to Comment SilverIsKing
SilverIsKing's picture

And I always referred to him as Fred "The Idiot" Mishkin.  Who knew?

Mon, 03/28/2011 - 18:31 | Link to Comment weinerdog43
weinerdog43's picture

Prescient and correct.  Well done!

Mon, 03/28/2011 - 18:57 | Link to Comment Haywood Jablowme
Haywood Jablowme's picture

OT:  Interesting.....media blackout on the rally going on in Los Angeles.  Amazing how I need to watch Russia Times just so I can see what's going on in this crap state.

LA Rally

 

Tue, 03/29/2011 - 03:20 | Link to Comment Shylockracy
Shylockracy's picture

Hava nagila

Hava nagila

Hava nagila venismechah!

Tue, 03/29/2011 - 07:07 | Link to Comment Thomas
Thomas's picture

I've seen him worse. With that said, the volatile price of oil is up tenfold in a dozen years. I wonder when it is going to fluctuate back down to $10 per barrel.

Mon, 03/28/2011 - 19:21 | Link to Comment bania
bania's picture

Vote for POMO and all your wildest dreams will come true.

Mon, 03/28/2011 - 22:08 | Link to Comment YouBetYourLife
YouBetYourLife's picture

More like a clown.  Put a big red nose on him and be done with it, already.

Mon, 03/28/2011 - 17:54 | Link to Comment israhole
israhole's picture

Dirtbag.

Mon, 03/28/2011 - 18:14 | Link to Comment zeusman
zeusman's picture

Ahh, Is the Jew holding you down?   It is always nice to have someone to blame for shortcomings, No?

Mon, 03/28/2011 - 19:08 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Why are there so many Jewish running the fed and banks? Is that a job requirement?

Mon, 03/28/2011 - 19:58 | Link to Comment flacon
flacon's picture

I am starting to believe that these bankers (and yes, most are 'jewish') believe that they can create something out of nothing. My 5 year old son brought home a book from kindergarten about a kid how had a jacket and it kept on shrinking out of wear... until the point when it was all gone - completely gone. The kicker of the book was "so we can see that we can create something out of nothing since you are reading this book". 

 

Pretty astounding... glad I didn't pay the two cents for that book. 

 

 

Mon, 03/28/2011 - 20:16 | Link to Comment MsCreant
MsCreant's picture

Tax dollars or tuition, you paid.

Mon, 03/28/2011 - 19:11 | Link to Comment SilverIsKing
SilverIsKing's picture

He blames the mohel for his shortcomings.  He snipped off a bit too much.

Tue, 03/29/2011 - 01:19 | Link to Comment GoinFawr
GoinFawr's picture

Hey zeusman, does the following mean anything to you?

"We'll make a pastrami sandwich of them. We'll insert a strip of Jewish settlement in between the Palestinians, and then another strip of Jewish settlement, right across the West Bank, so that in 25 years time, neither the United Nations, nor the United States, nobody will be able to tear it apart."-Ariel Sharon, 1973

Hey, don't look at me, look at a map. I recommend starting in 1946 and finishing today. Guy's a 'man of his word', I'll give him that.

"Everybody has to move, run and grab as many hilltops as they can...everything we don't grab will go to them."-Ariel Sharon,1998

As for the religion thing; well, I can't really say. I do find the whole 'Abrahamic Trilogy' to be quite the disgusting blight on the face of humanity, to be quite honest. Woefully outdated, to say the least. We'd probably be better off if the whole lot of them worshipped Dumbledore or Mithrandir, IMHO.  I mean, don't get me wrong, I enjoyed the 'magic', sex, and violent excitement of the first two books as much as anyone, but you'll have to admit that the New Testament is a bit dry, in English anyway.

I like the secular humanist side of the faiths certainly, it's just too bad that religious wingnuts are so conditioned to ignore it in the dubious spirit of 'higher purpose' ; or should that be 'holier than thou-est'?

Marcus Brigstocke puts a fine point on it:
http://www.youtube.com/watch?v=6tsgmuD6eDg

Regards

Mon, 03/28/2011 - 18:23 | Link to Comment Careless Whisper
Careless Whisper's picture

this guy gives all the otha ten dolla hos a bad name.

http://www.gagsuperstore.com/images/Crack%20Whore%20Magazine.JPG

 

 

Mon, 03/28/2011 - 19:23 | Link to Comment Andy Lewis
Andy Lewis's picture

Just to let you know, fuckface, I didn't junk your comment.  It's your handle. 

Mon, 03/28/2011 - 17:56 | Link to Comment akak
akak's picture

The problem is that forecasting is a tough business and that you always don't get it right."   

 

Yeah, being an economic central planner along the lines of a Soviet Union commissar tends to have that effect.

Apparently, though, telling the truth is even tougher business--- and Mishkin gets it right even less.

Mon, 03/28/2011 - 23:27 | Link to Comment web bot
Mon, 03/28/2011 - 17:55 | Link to Comment ziggy59
ziggy59's picture

well the half life of saintbartium or southamptonium is about 25 yrs..thats about the time takes for BS to decompose to half its mass.

Mon, 03/28/2011 - 17:56 | Link to Comment Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Dude was _HILARIOUS_ in _Inside Job_.

I don't think he intended to be though.

Mon, 03/28/2011 - 18:18 | Link to Comment TuffsNotEnuff
TuffsNotEnuff's picture

Bingo !

Mon, 03/28/2011 - 19:02 | Link to Comment Bastiat
Bastiat's picture

Yes!  I actually bought that DVD so I could lend it to as many people as possible.

Mon, 03/28/2011 - 19:04 | Link to Comment SwingForce
SwingForce's picture

I  threw my black jujifruits at the screen everytime that douchebag came on. 

And I licked them first so they would stick ha ha !

Mon, 03/28/2011 - 18:01 | Link to Comment alien-IQ
alien-IQ's picture

I'm willing to bet that Mishkin and the Bernank have in fact gone down on each other on more than one occasion.

Mon, 03/28/2011 - 18:01 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Mishkin is a real dirtbag and traitor to the United States.

 

Everyone hates you filthy bankers, NWO and CFR types, Mishkin. It was just a matter of time before the sleeping giant awoke. Did your filthy ilk really never consider that this time would come?

Mon, 03/28/2011 - 18:04 | Link to Comment Conrad Murray
Conrad Murray's picture

Don't forget to leave bad ratings and funny comments on this video. Here's the youtube link

http://www.youtube.com/watch?v=W0tIh20MPJY

Mon, 03/28/2011 - 18:05 | Link to Comment Biff Malibu
Biff Malibu's picture

I have a new hobby.  I go to drudge report, click on just about any article.  Go into the comments section and start making inflammatory remarks contrary to the views of the people in the article.  It's a good way to pass the time watching a market waiting for it to die. 

Biff

 

Mon, 03/28/2011 - 18:52 | Link to Comment Convolved Man
Convolved Man's picture

 

Leave Mish' McFly alone.

He's been to the past and the future.

He just has a problem describing what he's seen.

Mon, 03/28/2011 - 18:06 | Link to Comment Rick64
Rick64's picture

 Congratulations on his new textbook? Serious math in it as well as policy? Are you fucking serious? This is what is wrong, failures such as Mishkin are elevated despite their failures, because of their reliability to support the status quo rather than buck it. Example after example of this Geithner, Larry Summers, ect... This moron is writing textbooks instead of someone with integrity.

Mon, 03/28/2011 - 18:28 | Link to Comment Cow
Cow's picture

and where are they ultimately elevated to?  Why teaching in college to little schmos that don't know any different.

Mishkin is a full professor at Columbia Business School where he can wax eloquent on policies that don't work.

I can just hear him now talking down to all of the students. "Do you know who I am?"

Mon, 03/28/2011 - 19:08 | Link to Comment MsCreant
MsCreant's picture

Hacks do textbooks. If you are well known, getting ready to retire, maybe an okay project to undertake because you really want to see it done right. But generally, at evaluation time, chairs could give a shit if you did a textbook. It has been the death knell of many a career. Meanwhile it is downright weird to be plugging your new "textbook" on a news show.

Mon, 03/28/2011 - 19:21 | Link to Comment davepowers
davepowers's picture

well hacks have found a gold mine then

I just paid $122 for a first year Spanish text for a daughter. It was pretty slim too.

I guess they're making new discoveries in elementary Spanish all the time.

Don't get me started on the price of used, dog earred marked up paper backs at the student book store. 

Mon, 03/28/2011 - 19:35 | Link to Comment MsCreant
MsCreant's picture

I feel you. I almost never use text books. I have all my materials on line for one of my classes (no books to buy at all) and some of them on line for the other. I have written a lot of stuff and they get "journal articles" from JSTOR.

Some faculty are moving to E-texts ($40 a pop with a lot of interactive stuff for the students).

Foreign language is required, that is too bad about the prices. Some are worse than $120. The authors hardly make any royalties off of these, FWIW.

Mon, 03/28/2011 - 19:54 | Link to Comment AhhhItBurns
AhhhItBurns's picture

I hope you don't have to put up with the scam of "Custom Edition for XYZ University". That pissed me off to no avail, especially when I figured out the page content is the same and only the covers are swapped out.

The departments who assign these books are often complacent, especially if there are grants handed down by the publisher (oooh lala, money out of thin air!) and then the department will shriek ask for more. The ebook market can be a problem as well, because some of the sleazy companies will kill off access after a semester ends. No resale market, just the way they like it.

Oh well, textbooks are only one of the many issues on the plate of many colleges now.

Mon, 03/28/2011 - 19:47 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

That's an insult to hacks.  Mishkin took his tired Money & Banking text, added some IS-LM antiques and few AS/AD diagrams, used them to "explain" the crisis, and voila, a "new" Macro Theory textbook for the ages.  It's a POS, just like its author.

Mon, 03/28/2011 - 20:57 | Link to Comment Rick64
Rick64's picture

Whether hacks do  textbooks or not, His textbook "Economics, Banking, and Financial Markets" will brainwash many college students with faulty monetary theories. He has no integrity yet he is trusted with writing a textbook. He would hardly be considered a hack with the positions that he has held.

Mon, 03/28/2011 - 19:10 | Link to Comment dcb
dcb's picture

very insightfull comment. I am always amazed how we keep trotting out our failures and put them in policy positions. Guess it shows the real reason tfor being there is to be able to turn a blind eye to banks stealing from us and going along with the program.

Mon, 03/28/2011 - 18:08 | Link to Comment jimijon
jimijon's picture

Great lede.. had me rolling in laughter

Mon, 03/28/2011 - 18:18 | Link to Comment spekulatn
spekulatn's picture

Agreed jimijon. Well done Tyler.

Mon, 03/28/2011 - 18:18 | Link to Comment G-R-U-N-T
G-R-U-N-T's picture

-Tricky Ricky....

Mon, 03/28/2011 - 18:19 | Link to Comment mick_richfield
mick_richfield's picture

I think this guy should get a Nobel Prize in physics.

Then we can have him, Krugman, and Obama -- let's have like a new Mount Rushmore or something.  Made of shit.

 

Fed delenda est.

Mon, 03/28/2011 - 18:34 | Link to Comment Jay Gould Esq.
Jay Gould Esq.'s picture

A capital idea.

Chiseled out of solid Milorganite.

Mon, 03/28/2011 - 18:44 | Link to Comment barkster
barkster's picture

or fecesium

Mon, 03/28/2011 - 18:18 | Link to Comment Haywood Jablowme
Haywood Jablowme's picture

Time for another episode of "Rex Kwon Do!"

Lesson 1

 

Mon, 03/28/2011 - 18:20 | Link to Comment rookie
rookie's picture

Completely OT but has anyone seen Johnny Depp's "Rango"?  I took the kids this weekend having no idea what it was about.  Nice allegory for our times. . . lots of ZH themes. . .power, corruption, whoever controls the "water" (money) controls everything, sheeple toiling away, sheriff appointed by tptb to give hope to the peeps . . .must have been written by a ZHer. . .too bad the ideas can only be written in a kid's animated movie.  :)

Mon, 03/28/2011 - 18:24 | Link to Comment Seasmoke
Seasmoke's picture

@ 2:28....he ALMOST said it wasnt enough to keep us out of a DEPRESSION !

Mon, 03/28/2011 - 18:21 | Link to Comment Jerry Maguire
Jerry Maguire's picture

Does this guy tell the truth?  Does the media?

"Anonymous" supposedly called for an "Empire State Rebellion" that was set to begin today, or maybe not.  I thought not, since I didn't see a single news report about it, but then Russian TV has a story:

http://strikelawyer.wordpress.com

So is there something going on, or not?  Anyone?

 

Mon, 03/28/2011 - 18:23 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Talk in circles, smile and lie through your teeth. 

Nice try Comrade Mishkin.

Mon, 03/28/2011 - 18:23 | Link to Comment Irwin Fletcher
Irwin Fletcher's picture

Aside from the sickening Krugman pandering, which I'm not convinced was unsarcastic given his arguments against Krugman (really, how many other economists could possibly actually like the guy?), and aside from his obvious whoring which is not unique in his profession, he makes a few good points: people won't ignore QE and the consumer is in trouble. 

And he makes a few good points disguised as bad points, like in the US, headline inflation is trending toward core. That one could be spun positively, but I'm not convinced that's his intent here. It can also mean that the cost of 'core' goods is catching up to the cost of raw materials inputs including food and energy (c.f. iPads).   

The last quote Tyler highlights, where forecasting is a tough business and that you always don't get it right, also could be a shot at Krugman. He seems to be saying that then in 2007, relative to now, our production capacity was greater and jumping the gun on the crisis vial massive easing resulted in the export of that capacity, which was the thing that wasn't gotten right.

I don't know this guy, and I'm skeptical of his good intentions, but I'm not sure these clips suffice to bring his reputation below the average of his profession.

Mon, 03/28/2011 - 18:24 | Link to Comment bob_dabolina
bob_dabolina's picture

No fuckin' way. I found Mishkins identical brother which about the same level of education to boot.

Tell me they don't look alike. Throw some glasses on this guy, bada bing, bada boom.

http://www.youtube.com/watch?v=9gNMujtGR-k

Mon, 03/28/2011 - 18:25 | Link to Comment gold mans sack
gold mans sack's picture

It is such a shock that there is another joo pulling the strings.

Mon, 03/28/2011 - 18:55 | Link to Comment buzzsaw99
buzzsaw99's picture

heh.

Mon, 03/28/2011 - 18:30 | Link to Comment Winterland
Winterland's picture

How this guy is still invited on TV and is considered credible after his "work" on the Iceland situation is beyond me.

Tue, 03/29/2011 - 01:20 | Link to Comment Two Face
Two Face's picture

Considering that "Inside Job" pulled in only just over $4.25M at the box office at an average 2010 ticket price of $7.89, you're looking at about 540K people who saw the film in the theater (probably a good portion were ZH-ers).  I haven't seen any data for its DVD or Internet download numbers, but it's probably in the same ballpark even after the "Best Documentary" Oscar win.  So, in the grand scheme of things, the number of people who are even aware of his "work" on Iceland is pretty miniscule at best.

http://www.boxofficemojo.com/movies/?id=insidejob.htm

Mon, 03/28/2011 - 18:28 | Link to Comment bugs_
bugs_'s picture

He said a bunch of stuff. None of it mattered.

BUT....he got on zerohedge!

Mon, 03/28/2011 - 18:55 | Link to Comment knukles
knukles's picture

LOL
He got "ZeroHedged"

Kinda like the first several politicians who went on the Daily Show or Colbert Report and had absolutely no fucking idea what had befallen them.

Mon, 03/28/2011 - 18:33 | Link to Comment arnoldsimage
arnoldsimage's picture

just another money hungry, money driven, money is all... tool. ho hum.

Mon, 03/28/2011 - 18:33 | Link to Comment Caviar Emptor
Caviar Emptor's picture

....All we are sayin'.....is give Ben a chance ! ! 

Mon, 03/28/2011 - 18:37 | Link to Comment destiny
destiny's picture

What the purpose, the sense, the waste of time about, on writing a paper on a man noone listens to ?

Mon, 03/28/2011 - 18:47 | Link to Comment AldoHux_IV
AldoHux_IV's picture

This guy deserves to be beaten within an inch of his life so that others who attempt to manipulate and lie based on their own greedy motives will think maybe twice before going on air and continuing the lies that kill everyone but the top 2%.

Mon, 03/28/2011 - 18:48 | Link to Comment AldoHux_IV
AldoHux_IV's picture

This guy deserves to be beaten within an inch of his life so that others who attempt to manipulate and lie based on their own greedy motives will think maybe twice before going on air and continuing the lies that kill everyone but the top 2%. And fuck Tom Keene and his masturbatory obsession with his elegant charts-- fucking piece of elitist want a be tard.

Tue, 03/29/2011 - 00:58 | Link to Comment natty light
natty light's picture

re:Keene

Yes, another parasitic wannabe chattering class type. If we have a crash hopefully all these NY-DC talkers will be tsunami-ed away.

Mon, 03/28/2011 - 18:49 | Link to Comment willien1derland
willien1derland's picture

Tyler - Never was such a true concise statement every been made that encapsulates the 'contribution' of Fred Mishkin --> 'He said a bunch of stuff'

It is simply the economy of words that I admire -

Kudos - I have submitted your work for Pulitzer consideration - just remember us when you are famous...Unlike Fred who should just go away...preferable to Iceland where prehaps someone can assist him with the definition of Stability/Instability - Kudos on another great article!

 

Mon, 03/28/2011 - 18:53 | Link to Comment Bubbles...bubbl...
Bubbles...bubbles everywhere's picture

Where does this "so" before every answer come from? It's so annoying.

Tue, 03/29/2011 - 01:00 | Link to Comment natty light
natty light's picture

+1000

Mon, 03/28/2011 - 18:53 | Link to Comment Goatboy
Goatboy's picture

"Mishkin will say anything that he is paid $___ to say"

...and 5.5 billion people in order to make ends meet.

Mon, 03/28/2011 - 19:00 | Link to Comment Mentaliusanything
Mentaliusanything's picture

Simply, not only was that man using up valuable and available air and space, he has wasted my time as well.

A smiling assassin with the brains of a smashed crab

Mon, 03/28/2011 - 18:59 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Honestly, I can't see how this charade can continue through the end of the year. At some point the financing of current excess spending, plus the maturing bonds that need to be turned over, and the interest on the current $14 trillion debt become overwhelming. Especially as other countries loose faith in the dollar and more demand is out there to replace it as the world currency. When everyone starts to run away from the dollar, we in a heap-o-trouble.

It's still too early to hit the drink :/

Mon, 03/28/2011 - 19:33 | Link to Comment Larry Darrell
Larry Darrell's picture

"It's still too early to hit the drink "

 

There is no hour of the day or night when a good bourbon can't be consumed.

Tue, 03/29/2011 - 03:41 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

haha. I know, right?

Mon, 03/28/2011 - 19:02 | Link to Comment Hedgetard55
Hedgetard55's picture

" I have to tell you that in this context--Paul, who a great economist, by the way and completely deserves his Nobel Prize--on this policy issue, he really has pushed us back where our level of understanding in macroeconomics doesn't say that there's no effect from fiscal policy, but under certain circumstances actually expansionary fiscal policy may not work or could actually be contractionary.   There are cases where actually contracting by actually getting your long run fiscal situation in balance can actually be expansionary."

WTF?????

 

Anyone have a jibberish translator?

Mon, 03/28/2011 - 19:20 | Link to Comment Irwin Fletcher
Irwin Fletcher's picture

Attempted above, but junked accordingly. This may be passive-agressive posturing in an academic catfight.

Mon, 03/28/2011 - 19:23 | Link to Comment esch
esch's picture

Actually, no. It actually is gibberish.

Actually.

Mon, 03/28/2011 - 19:32 | Link to Comment Andy Lewis
Andy Lewis's picture

What he's saying is that stimulus spending may not work because the masses won't spend because the sheer recklessness of not cutting Social Security will worry them silly.

It's just a buncha shit in plain or fancy English.

 

Mon, 03/28/2011 - 23:25 | Link to Comment Slipmeanother
Slipmeanother's picture

Just use a yiddish dictionary

Mon, 03/28/2011 - 19:04 | Link to Comment RobotTrader
RobotTrader's picture

The insufferable Bob Brinker pretty much sums it up.

With all that's going on in Japan and Egypt, the S & P 500 closed with 2% of its 2010 highs, capping off a good week for stock investors.

Despite the bashing on Treasuries and gargantual deficits, Treasury rates remain exceptionally low, especially the short rates, and implied annual inflation as measured by the TIPS spread is a paltry 2.5%.

So far, Brinker says there are no signs of the conditions ideal for a bear market anywhere.

http://vaca.bayradio.com/kgo_archives/01400.mp3

Mon, 03/28/2011 - 19:24 | Link to Comment Hulk
Hulk's picture

Curious as to why you refer to Brinker as insufferable ? Which I don't disagree with...

Mon, 03/28/2011 - 19:48 | Link to Comment SwingForce
SwingForce's picture

MO & PM 52 week highs. MO+PM+KFT=Old Philip Morris Cos. and biggest% of XLP

Mon, 03/28/2011 - 20:25 | Link to Comment disabledvet
disabledvet's picture

i agree with this.  having said that "what happens if the Fed actually allows for growth and then growth appears?"  the interest of the Fed is in "constant crisis"--the "Japanese syndrome" being maintained--forever calling for further QE.  More harrowing would be "further QE" while the economy in actuality recovers--but i must give the Fed credit in this sense:  talk about economic anemia.  Now ON TO TRIPOLI!

Mon, 03/28/2011 - 19:08 | Link to Comment buzzsaw99
buzzsaw99's picture

The central bank is a rip off

Now everybody mazel tov

Mon, 03/28/2011 - 19:21 | Link to Comment Stewman
Stewman's picture

"It's pretty much my favorite toxic asset.  It's like a mortgage and a security."

 

 

Mon, 03/28/2011 - 19:25 | Link to Comment Horatio Beanblower
Horatio Beanblower's picture

From Steve Keen's Debtwatch...

 

"The screen capture video of my talk at this seminar gives an overview of both my economic analysis and my views on the Australian housing market. Several blog members have commented that it’s the best overview I’ve provided, so I’ve put it on the essential readings list."

 

http://www.debtdeflation.com/blogs/2011/03/20/mortgage-finance-association-of-australia-talk/

Mon, 03/28/2011 - 19:34 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

I was eating my lunch when FM came on the tube (no pun).  I had to change the channel, lest I lose my lunch.   He's just so...well, douchey.

BTW, TD, the Napoleon Dynamite reference is spot on.  Brilliant

Mon, 03/28/2011 - 19:37 | Link to Comment MsCreant
MsCreant's picture

Napoleon is a nice kid, why dis him that way?

Mon, 03/28/2011 - 19:46 | Link to Comment monopoly
monopoly's picture

Agree, at some point there has to be an explosion, a detonation. Can this deception go on for the rest of the year? It is so obvious, yet most of the sheeples just care about American Idol, Survivor and Amazing Race.

But at some point..........

Mon, 03/28/2011 - 19:53 | Link to Comment f16hoser
f16hoser's picture

Hey Freddy, you were Awesome in the documentary: "Inside Job!" You are quite possibly, the dumbest son-of-a-bitch on the planet. You even talk funny. You remind me of Porkkkky Pig!

Mon, 03/28/2011 - 20:14 | Link to Comment surfsup
surfsup's picture

Saw that film last night.  A few characters in it were a textbook study on how years of deception lead to an instability of the nervous system which no doctor could possibly cure.  Everyman may have his price but every action has its Cost.  

Mon, 03/28/2011 - 20:59 | Link to Comment Tunga
Tunga's picture

On krugman; the reason the economy is in such a funk is because people seem to be thinking if they work then the government will just take their earnings with taxes. 

 

  On the stock market; it's amazing isn't it? How many people still believe it's a free market.     On inflation; it's so totally false that rising prices effect the way inflation is calculated. Unless you delete the excess expenses incurred in the calculations nothing makes sense. That's what's right about the way we do it. Why no one in the public sector has figured that out yet is completely unresponsive to what everyone else already knows. That much is self evident.     On Throwing Citigroup under the bus; a lot of people thought "well if the Fed says things are good then that is the way it must be." So they believed that and then we found out that they were the same people that thought inflation was bad. So when it was obvious that we couldn't kill all the people that didn't know this we basically made the hard choice. It's a good thing too because a lot of people have since found out how right we were when we had just an inkling of how really bad things might get. And they still could if not for the efforts of people in the major media who constantly attack the truth to get to the root of the lie so that everyone knows it by heart.

 

Mon, 03/28/2011 - 21:18 | Link to Comment f16hoser
f16hoser's picture

Mishkin, we're fucked. Another idiot in charge of the countries treasure.

Mon, 03/28/2011 - 22:33 | Link to Comment mister0_1
mister0_1's picture

Even an idiot wouldn't trust this guy who says "the stock market has forecast nine of the last five recessions"

 

Holy crap!

Mon, 03/28/2011 - 23:28 | Link to Comment anony
anony's picture

So why not ignore him, shun him.

Why do you insist on taking up precious bandwidth even referring to him?

Find something else.

Mon, 03/28/2011 - 23:53 | Link to Comment Akrunner907
Akrunner907's picture

I watched that interview today, and I was just mortified at the stupidity of Mish. But, it appears that he is rolling in money!

Tue, 03/29/2011 - 00:09 | Link to Comment web bot
web bot's picture

I'm still trying to determine if Iceland-Mishkin is a tool or prosthetic.

Tue, 03/29/2011 - 02:28 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

Funny, all this talk about the primary concern being either Headline Inflation or Core Inflation, meanwhile the printing press out the back is cranked-up to Warp Factor 9, the output of which is 'Making The Market'.

What I've yet to hear about is the 'Rate' of change in Headline Inflation versus the 'Rate' of change in the money supply, allowing of course for the inevitable delay in the build up of that money...then, if possible, allow fo the whacking the wholesalers and retailers are getting by having to be super competitive since before the GFC until now.

THAT figure is what I want to know.

 

Tue, 03/29/2011 - 03:57 | Link to Comment j0sh1130
j0sh1130's picture

fuck me.  i dont understand what the fuck this guy is trying to say.  ive never seen so much contradictary bullshit in my life.  i hope this guy drives his car in to a tree.

Tue, 03/29/2011 - 04:25 | Link to Comment bobboberson
bobboberson's picture

Can somebody let me know when we can start stoning central and wall street bankers?

I'm ready when you are.

Tue, 03/29/2011 - 05:01 | Link to Comment flrzero
flrzero's picture

Mishkin discredited himself as a complete idiot in Inside Job and then we have this dimwit geezer on Bloomberg genuflecting about how brilliant he is and his wonderful textbook. I recall that this textbook came up as an excuse during Inside Job for loss of focus leading to some of his idiocy.

Tue, 03/29/2011 - 06:22 | Link to Comment mogul rider
mogul rider's picture

I can see now why the Jewish Defense League is required.This guy just really pisses you off doesn't he? The fucking wreaking arrogance. He talks in clouds as people starve.

 

Fuck you!

Further, one can see why the Nazi's became favorites of nation.

When 97% of the population is disenfranchised and all the Jews run the banks and stick their middle finger in the air at you,one can the attractiveness of Hitler as a focus for people's anger.

They don't hide their arrogance much anymore. At least we know which group the elites are made of.

You reap what you sew I guess.

Your group's desire for control has consequences.

 

And no I'm not a antisemite so don't bother - I pick fights with anyone who is part of the  control network.

 

Just Saying

Tue, 03/29/2011 - 07:56 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

You Americans need to build something decent from the fucking ashes. And make an example of those bankers...watch the movie '300' if you need some ideas on how to deal with them.

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