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Presenting Einstein's Definition Of Insanity In A Taxpayer Funded Suit

Tyler Durden's picture


Charlie Evans proved once and for all that he is the 'doviest' dove in the Fed's dove-cote as he espoused his own special sense of reality with CNBC's Steve Liesman this morning. His ability to speak out of both sides of his dual-mandate mouth while suppressing the reality of rising prices and expounding on the need for the Fed to be more accomodative (we assume they will stop at infinite infinities of easing), Evans made it very clear, when pushed on the topic of QE efficacy, that they will continue to print (unable to provide any quantitative assessment of the result) until morale improves. That's it; nothing less. Inflation - no worries; all the time the unemployment rate is where it is they are justified in debasing to the max. Must watch clip to understand why precious metals have surged this morning and stocks not so much as they will repeat the same actions again and again and expect a different outcome.


Evans: Until we see six months of 200k-plus NFP then maybe they ease off...

Evans: Growth forecasts based on his view of more accomodative policy (so far too rosy)...

Evans: Refinancing their mortgages is his transmission channel of choice... (just ignore the whole balance-sheet-recession debt-reduction thing...)

Evans: banks are looking for good quality credits to lend to... (yeah, not so many of them around eh?)



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Mon, 10/01/2012 - 09:45 | 2844745 taniquetil
taniquetil's picture

6 months of 200k-plus NFP?


They're gonna be doing this for a LONG time.

Mon, 10/01/2012 - 09:49 | 2844759 Popo
Popo's picture

Einstein never said anything of the sort about insanity.   He understood the mathematics of probability, randomness, tipping points, and limits in calculus pretty well.   He was well aware the identical actions frequently produce non-identical results.  

Mon, 10/01/2012 - 09:50 | 2844762 LawsofPhysics
LawsofPhysics's picture

Correct.  Yeast will once again be shown to be more intelligent than man.  Hedge accordingly.

Mon, 10/01/2012 - 09:54 | 2844786 Parabolic
Parabolic's picture

Forget about absolute numbers quoted by the FED regarding easing.  The big wave for us will take off once they start "targeting" as alluded to by the dove.  Rickards mentioned targeting inflation in his book...but you can target whatever the hell you want (ie NFP/unemployment, etc), the end game will be same, only rapid-er...

Mon, 10/01/2012 - 09:58 | 2844804 Landotfree
Landotfree's picture

There is no victory against the equation.   

1-3 billion unfunded liabilities will have to go is my guess.

Mon, 10/01/2012 - 10:11 | 2844827 Stackers
Stackers's picture

We call that a pigeon in Texas. Not a dove.

Mon, 10/01/2012 - 11:02 | 2845075 odatruf
odatruf's picture

Here in New Hampshire, we call it dinner. Add some seasonal vegtables or fruit, and you have a nice stew.


Mon, 10/01/2012 - 10:18 | 2844885 JPM Hater001
JPM Hater001's picture

You missed a few zero's there.

Mon, 10/01/2012 - 10:35 | 2844959 kridkrid
kridkrid's picture

He's talking people, not money.

Mon, 10/01/2012 - 10:45 | 2844985 toady
toady's picture

Exactly. We are moving from trillions to quadrillions, so 1 to 3 billion? HA! Unless he's talking humans. Then 1 to 3 billion sounds about right. Maybe a little low, more like 3 to 5, but just about right.

Mon, 10/01/2012 - 10:22 | 2844907 LawsofPhysics
LawsofPhysics's picture

I don't know if I would consider the masses "unfunded liabilities" so much as underfunded liabilities.

Long sharecropping and undertakers.  Hey, somebody's got to profit, this is a trading site after all.

Mon, 10/01/2012 - 10:29 | 2844937 Uncle Remus
Uncle Remus's picture

How's about unconstitutional?

Mon, 10/01/2012 - 11:24 | 2845165 MillionDollarBogus_
MillionDollarBogus_'s picture

I said it last week and will say it again here - the Fed should start selling mortgages directly to consumers.

Screw this buying up mortgage debt on the secondary markets.

Buy it directly from consumers.

Put your newly-created-from-nothing money where youur mouth is, Evans...


Mon, 10/01/2012 - 12:09 | 2845328 MillionDollarBoner_
MillionDollarBoner_'s picture

Doh, my brudder. Yous dont gets its, doos ya?

Its not about the consumer, its about the banks.

Its not about liquidity, its about solvency.

Its not about democracy, its about oligarchic kleptocracy and regulatory/political capture.

Enough with the Groupthink already.

Mon, 10/01/2012 - 10:02 | 2844817 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Unfortunately we are boxed between such idiotic premises as "Forever Easing" and "Austerity" when there are many other solutions to this horror.  For example, if we reconstituted Corporate Charters JPM and other ones such as XOM would not be able to get away with murder due to them having personhood but not being persons.

The corporate schills have hid behind corporations and government facades so to not take punishment for their wrong doings.  If we could make it seen plain as day who the monsters are, we would not be stuck in such an awkward delema as this Hegelian Dialectic we are currently in.

Mon, 10/01/2012 - 10:05 | 2844826 Landotfree
Landotfree's picture

Correct.   The price will have to be paid for using the equation.    Neither choice will work much longer as the mistake was made and continues to be made to use the equation.

The price will be the lives of 1-3 billion unfunded liabilities is my guess.   

The final solution to the equation is one the hairless monkeys do not want to hear, the solution to not going down this road again is not something the hairless monkeys want to hear ie rinse and repeat.


Mon, 10/01/2012 - 11:29 | 2845191 Ckierst1
Ckierst1's picture

I think corporations are demigods maybe? They have been granted a personna by TPTB and yet then don't experience the same vulnerabilities as us mere mortals (MM). I need to get a clear shot at a heel.

Mon, 10/01/2012 - 12:16 | 2845341 ZeroAvatar
ZeroAvatar's picture

It's not "Austerity", it's "Ugly Deleveraging".

Mon, 10/01/2012 - 09:57 | 2844797 Landotfree
Landotfree's picture

This is why lemmings are doomed to repeat.  This is not the reported quote. "Albert Einstein is reported to have called compound interest the most powerful force in the universe."  The reported quote was one about human not understanding exponential growth.

As far as I can see, hairless monkeys just rinse and repeat.   

Mon, 10/01/2012 - 12:24 | 2845381 ZeroAvatar
ZeroAvatar's picture

Damned, filthy apes!  You destroyed it all, didn't you!?

Mon, 10/01/2012 - 09:58 | 2844801 rustymason
rustymason's picture

“God does not play dice with the universe.”

Mon, 10/01/2012 - 14:03 | 2845819 JuliaS
JuliaS's picture

"I take pride in doing God's worK"

- Lloyd Blankfein

Mon, 10/01/2012 - 10:58 | 2845058 TheCanadianAustrian
TheCanadianAustrian's picture

Why the hell are you being junked for this comment? This misquote is extremely annoying to me as well.

Mon, 10/01/2012 - 11:32 | 2845213 ATM
ATM's picture

There is no record of Einstein every saying or writing this. In fact, it most probably comes from Alcoholics Anonymous which used it maybe as far back as the 30s.

Mon, 10/01/2012 - 10:01 | 2844812 HelluvaEngineer
HelluvaEngineer's picture

Wow.  I take back what I said earlier.  This guy is a complete fucking retard.  A pure product of Academia.  We're doooooomed.

Mon, 10/01/2012 - 10:03 | 2844821 machineh
machineh's picture

CORRECTED TITLE: 'Presenting Einstein's Definition of INANITY ...'

This way to the egress, folks! Welcome to the circus!

Mon, 10/01/2012 - 10:13 | 2844859 Gavrikon
Gavrikon's picture

He does seem to have gone "full retard."

But don't be doomed.  GetZeeGold before it's too late. . . .

Mon, 10/01/2012 - 10:24 | 2844919 2bigtoofail
2bigtoofail's picture

Ok check my math here. Balance sheet increase per month of 85 BILLION for the creation of 200,000 jobs. OR... 425,000 dollars per job. This is what sound monetary policy looks like?

Mon, 10/01/2012 - 10:44 | 2844992 kridkrid
kridkrid's picture

Checked it. Correct. But there is really no reason to talk about something that has nothing to do with the real goal. It's not job creation, it's merely pushing back the collapse as long as possible. The intelligent conversation around this would be "why". What are they waiting for? What will the timing be and why?

Mon, 10/01/2012 - 11:00 | 2845071 toady
toady's picture

'Why' is the question. I was and will be thankful for the last four years, but why continue at this point?

I was completely in the dark when shit went south in 08. If the shit just collapsed back then I would have been screwed. Thankfully, through sites like this, I've put together a plan and have a better chance than most.

I suppose dragging it out even more gives more people a chance to prepare, but if they haven't started by now ...

Mon, 10/01/2012 - 09:47 | 2844751 slaughterer
slaughterer's picture

Evans: a gold/silver-bugs best friend.  

Mon, 10/01/2012 - 10:39 | 2844970 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It's not that I want to see the desruction of the currencie I use everyday, it's that I know what economists are going to do to try and prop the system up.

They will devalue the dollar so to increase asset prices so we don't go into deflation.  Deflation at this point not only means wealth destruction for the rich and unfunded pensions for everyone (and in the land of the free credit everyone would go bankrupt) but it means the reigning economic paradigm would be proven wrong and not a science.

This would mean that economics is a philosophical debate and not a sound metric and policy would need to change as with education.  This would shake our society at its core and it could change the status quo overnight.  The whole purpose for "QE" and whatnot is to maintain the status least until the Police Grid is firmly in place.

Mon, 10/01/2012 - 10:50 | 2845027 kridkrid
kridkrid's picture

And the likely answer to the question I ask just above. Recognizing that there is "no solution"... That the system was going to collapse because it was/is created to collapse is the mental realignment that people MUST have in order to ask the right questions and to seek logical answers. ALL conversations that start with the premise that "something can be done" retards our understanding of the world around us, by design.

Mon, 10/01/2012 - 09:48 | 2844753 Money By Trading
Money By Trading's picture

My latest weekly review on gold:

Dollar index needs to stay below 80.

Mon, 10/01/2012 - 09:48 | 2844754 Dexter Morgan
Dexter Morgan's picture

I just stacked another 20 ounces of silver on Saturday.  Anybody else?

Mon, 10/01/2012 - 09:50 | 2844764 intj87
intj87's picture

Yeap, I stacked more last week as well :)

Mon, 10/01/2012 - 10:01 | 2844809 CunnyFunt
CunnyFunt's picture

Found 200+ grams sterling scrap for $0.50/gram. Bid $500 for a 30 gram 14k chain, the girl almost wet herself and handed it over. She said "I had no idea gold was worth so much." She's going to find some more :)

Mon, 10/01/2012 - 10:39 | 2844975 new game
new game's picture

pre stacked

at this point hedging food, oil against pm.

maybe glocks, colts, s&w's and lead get a bonus lift to put this hedge "over the top"

ps. thanks ben and charlie

Mon, 10/01/2012 - 09:49 | 2844757 otto skorzeny
otto skorzeny's picture

ZH-"We Watch CNBC So You Don't Have To"

Mon, 10/01/2012 - 09:55 | 2844787 Dr. Richard Head
Dr. Richard Head's picture

ZH is like the Mister Skin of the financial TV world.  Finding the financial boobs and asses, so we don't have to sit through the entire shit show.  NICE

Mon, 10/01/2012 - 10:00 | 2844808 machineh
machineh's picture

Watching CNBC is kind of like mucking out a septic tank with your bare hands.

Don't let their reeking effluent spill on your living room rug!

Mon, 10/01/2012 - 09:49 | 2844760 yogibear
yogibear's picture

Evan's, like Dudley, Yellen and Bernanke all want to print their way out of debt. Devalue the existing debt.

Only problem is Obama will spend more and add more debt.

The doves are just the enablers for higher and higher US debt. Higher taxes.

Zimbabwe here we come.

Let's see how this all ends.

Mon, 10/01/2012 - 09:48 | 2844761 LawsofPhysics
LawsofPhysics's picture

More than eight years into the bush tax cuts and the truly wealthy have made billions in capital gains (money for nothing) taxed at a fraction of what truly earned income is taxed at.  These uber rich are the supposed "job creators"?!?!  LMFAO!

Well where the fuck are the jobs?  Seems to me these guys have been offshoring just about everything, buying private islands and planning their exits (with gold) to places like the phillipines and Barbados.  What do they know that the sheep don't?

Keep talking douchebag, my physical PMs thank you.  Time to sheer the sheep, again.

Hedge accordingly.

Mon, 10/01/2012 - 10:01 | 2844810 Quinvarius
Quinvarius's picture

But remember, you get that same capital gains tax rate.  Iphone toting beatnicks, mods, hipsters don't understand that they are trying to raise their own taxes when they advocate going after capital gains.

Mon, 10/01/2012 - 10:14 | 2844864 LawsofPhysics
LawsofPhysics's picture

That which is not sustainable will not be sustained.  Hedge accordingly.

Mon, 10/01/2012 - 11:13 | 2845108 odatruf
odatruf's picture

Quinvarius - I think they do understand that their own taxes will go up.  What they are betting on is that in the grand redistribution, they will get more back than they put it.

They think the step-and-fetch political leaders will all of sudden act in their best interest.

They think the bankers and other elites will simply take it and shrug it off with a "what can you do" attitude.

They think that just a bit more spending will finally solve some of these problems and that once that's done, we can all relax.


I think they were dropped on their heads as children. What else can explain it?

Mon, 10/01/2012 - 14:31 | 2845995 Blankenstein
Blankenstein's picture

Yep  People will be clamoring to raise the capital gains tax and the sycophantic politicians will craft their legislation so it will penalize all of us without pensions who are trying to save some money to retire on and the elite will emerge unscathed.

Mon, 10/01/2012 - 10:21 | 2844903 JPM Hater001
JPM Hater001's picture

Solid Law.

Mon, 10/01/2012 - 09:50 | 2844766 Drachma
Drachma's picture

"infinite infinities" - Gregor Cantor would be proud.

Mon, 10/01/2012 - 09:50 | 2844769 Kilgore Trout
Kilgore Trout's picture

This man chews his cud.

Mon, 10/01/2012 - 09:52 | 2844775 ebworthen
ebworthen's picture

The town is flooded, open the fire hydrants!

Mon, 10/01/2012 - 09:53 | 2844777 PUD
PUD's picture

And there you have it...for the banks, by the banks and of the banks. He and the other financial terrorists will do whatever it takes to ensure that lending (debt slavery) continues at exponential rates. Consumption will not falter, lending will not yield, bank profits will not be impeded. The climate will collapse, droughts will continue, the rivers will run rich with foam and you will pay the banks the rental fee on your money.

Mon, 10/01/2012 - 09:53 | 2844778 Jason T
Jason T's picture

He doesn't see any inflation..but what about the collapse in aggregate demand?  

This fellow is a complete and utter idiot.  

Mon, 10/01/2012 - 09:55 | 2844780 Dr. Richard Head
Dr. Richard Head's picture

Accomodative policy to whom?  It sure as hell is NOT to the average voter and tax slave.  Does anyone here, aside from MDB, think either a second Obama Presidency or a first Romney one will change any of this shit?

By the way, Liesman is a mouth breather that would be fitting of the Sec of Treasury in the movie Idiocracy.

Growth substantially above 3%?  Based on what?  Fucking dreamer. Aggregate demand push through accomodative monetary policy from the printing press is a fucking dillusional idea that has been proven, time and time again, as a false hope.

Inflation less than two percent?  Based on unicorn math.

Get the banks to lend?  Yeah, more credit and debt is the answer.  Fucking numbskull.  I could spout his nonsense all day with no facts to back up my claims.  I could be a Fed president.

Mon, 10/01/2012 - 11:41 | 2845250 odatruf
odatruf's picture

I don't think anyone getting elected is going to change any of this shit.  What will, despite massive effort to the contrary, is reality.  It can be kept at bay for only so long and then it will assert itself.

And she'll be a bitch.

Mon, 10/01/2012 - 09:53 | 2844781 Hedgetard55
Hedgetard55's picture

This guy clearly has all his wealth in PMs and thinks he is going to be a King when SHTF.

Mon, 10/01/2012 - 09:55 | 2844788 fonzannoon
fonzannoon's picture

From Marketwatch "gold risis on optomism about manufacturing"

Yup. That's what their headline is.

Mon, 10/01/2012 - 11:09 | 2845095 toady
toady's picture

Manufacturing gold. Sweet!

Mon, 10/01/2012 - 09:56 | 2844791 Dr. Engali
Dr. Engali's picture

People can not refi you clown! They are too far underwater and the banks are not lending. Good Lord where do they get these people?

Mon, 10/01/2012 - 09:56 | 2844792 Nothing To See Here
Nothing To See Here's picture

"You cannot have a rational discussion with a man who prefers shooting you to being convinced by you."

- Sir Karl Popper

Mon, 10/01/2012 - 09:56 | 2844795 Urban Redneck
Urban Redneck's picture

10/1/12 Evans is pretty arrogant to assume the FED will still be around after HELL FREEZES OVER.

9/21/12 Lockhart is pretty arrogant to assume the FED will still be around after HELL FREEZES OVER.

2 down, 10 to go


six months of 200k-plus NFP ... in what country or on what what planet?

Mon, 10/01/2012 - 10:07 | 2844796 Temporalist
Temporalist's picture

I agree with someone from the other thread that they are not "doves" as they more closely resemble seagulls; stupid, ugly, squawking and screeching the same inanities while hovering and fighting over rancid waste in a massive garbage dump that they think they own and control.


Somewhat on topic of intervention and unintended consequences:


Calif. dairies going broke due to feed, milk prices

"In nearly six decades of running a dairy in central California, Mary Cameron made a name for herself in a male-dominated industry: She led several dairy organizations and was honored as Outstanding Dairy Producer of the Year.

But the 82-year-old Cameron -- who still drives a tractor and supervises her Hanford dairy -- is on the brink of losing her life's work. She can no longer pay the bills. Her bank has classified her loan as distressed. And she can't afford enough feed for her 900 milking cows and 1,000 heifers.

"I have been in this business for 57 years and I have never been in financial trouble like I am right now," said Cameron, who runs the Atsma-Cameron Dairy with her two sons. "I'm on the verge of bankruptcy. It's horrible and inexcusable."

Cameron is not alone. Across California, the nation's largest dairy state, dozens of dairy operators large and small have filed for bankruptcy in recent months and many teeter on the edge of insolvency. Others have sold their herds or sent them to slaughter and given up on the business.

Experts say California dairymen face a double whammy: exorbitant feed costs and lower milk prices. The Midwest drought has led to corn and soybean costs increasing by more than 50 percent this summer, stressing dairymen from Wisconsin and Minnesota to Missouri. But in California, milk prices have also lagged behind those in the rest of the nation, exacerbating the crisis.

And while milk revenues in California have soared to over $7.5 billion in 2011, making milk the top agricultural commodity, higher revenues mean little, famers say, because it costs so much more to produce the milk.

"I don't think there's a milk producer in the state who is profitable right now," said Michael Marsh, CEO of Western United Dairymen.

Since 2008, California has lost nearly 300 dairies..."


...and then Chucky "Print Ben Print" Schumer...


NY Sen.: Milk prices may double without Farm Bill

Mon, 10/01/2012 - 10:19 | 2844890 otto skorzeny
otto skorzeny's picture

so a bunch of subsidized farmers are going to be off of Uncle Sammy's teat? cry me a river. talk about a bunch of welfare queens.

Mon, 10/01/2012 - 12:07 | 2845315 LawsofPhysics
LawsofPhysics's picture

Either they suck the tit or you do when the price of food consumes more than 100% of your income.

Take you pick, stupid sheep.

Printing more money does not make more commodities and inputs readily available.  Sorry douchebag, the laws of physics and Nature will win in the end, hedge accordingly.

Mon, 10/01/2012 - 11:14 | 2845112 toady
toady's picture

Sounds like those California cows aren't the happiest cows on earth anymore ...

Mon, 10/01/2012 - 09:59 | 2844805 Let The Wurlitz...
Let The Wurlitzer Play's picture

These people are idiots.  The people at the FED actually think they control the economy.

Mon, 10/01/2012 - 10:38 | 2844971 mercy
mercy's picture

They do...

Mon, 10/01/2012 - 10:00 | 2844807 Parabolic
Parabolic's picture

Must. Keep. Silver. Below. $35.

Mon, 10/01/2012 - 10:01 | 2844814 John Law Lives
John Law Lives's picture

This article really says it all.  This mouthpiece doesn't even bother to pretend that fundamentals matter.

S&P 500 Will Finish the Year Near All-Time High: Schoenberger
By Jeff Macke | Breakout – 1 hour 54 minutes ago



"Bull! I'm gonna be a big bull," says Schoenberger, not wasting a minute. "You should be long, strong, equities and maybe use leverage where appropriate." It's all about the Fed as he sees it. Nothing Bernanke and Co. can do will fix what ails the economy but it doesn't really have to. $40 billion a month in MBS purchases and the vow to do more as needed will be enough to get the markets to look past the nearly endless list of obstacles for stock prices.

No matter what happens, "the Fed is there to save the day."


100% FUBAR.

Mon, 10/01/2012 - 10:35 | 2844958 John Law Lives
John Law Lives's picture

This quote should be a headline quote on ZH:


Todd Schoenberger from the BlackBay Group:   ***  No matter what happens, "the Fed is there to save the day."  ***


Does it get any more bizarro?

Mon, 10/01/2012 - 10:02 | 2844819 apberusdisvet
apberusdisvet's picture

The tortured way he tried to link QE with increased employment was mind boggling.

Mon, 10/01/2012 - 10:06 | 2844832 machineh
machineh's picture

Well, the Fed hasn't had any layoffs, has it?

Mon, 10/01/2012 - 10:07 | 2844836 Winston Churchill
Winston Churchill's picture

I just want to know if they will sell 'poking sticks' when these guys are finally locked up in an

asylum for the criminaly insane.Put me down for a dozen,and a cattle prod.

Mon, 10/01/2012 - 10:04 | 2844822 Seasmoke
Seasmoke's picture

nice side shot of the 2 monkeys sitting in a room

Mon, 10/01/2012 - 10:06 | 2844834 Conman
Conman's picture

In other news "get to work" Schumer scare mongering the masses with 6 dollar/gallon milk to get farms bill passed.

Mon, 10/01/2012 - 12:49 | 2845485 ZeroAvatar
ZeroAvatar's picture

Supply/Demand.  If supply decreases, prices will rise. (Oops, that's old school economics.  Now, the gubmint will just steal my tax doelarrs to subsidize the industry, instead).

Mon, 10/01/2012 - 10:09 | 2844842 shovelhead
shovelhead's picture

It makes much more sense if you look at it as politics instead of economics.

Debt Brothers vs. Serfs.

Debt bros win again.

Mon, 10/01/2012 - 10:09 | 2844843 swabeyjw
swabeyjw's picture

On inflation, somebody remind me in who's backyard commodities are traded.

Mon, 10/01/2012 - 10:14 | 2844849 Peter Pan
Peter Pan's picture

Dear Mr Evans,

Maybe you have a velocity problem. Instead of $40 billion per month, how about $40 billion per week in quantitative easing? At the moment your fan is going too slowly for the shit to hit the fan with any sort of result. You need to rev up your engine. Crash or crash through. It's only funny money anyway so you have nothing to lose.

Yours sincerely

Alan Greenspam

Mon, 10/01/2012 - 10:13 | 2844855 El
El's picture

So what happens if we don't see a 200k increase in NFP for six months?

Mon, 10/01/2012 - 10:13 | 2844860 Cole Younger
Cole Younger's picture

Tell me one good reason, under current fed policy, why China and the rest of the world will not eventually dump treasuries..Why hold inflated junk bonds?

Another question the MBS purchase a bail out for China? How many MBS do they hold?

Mon, 10/01/2012 - 10:15 | 2844866 Cranios
Cranios's picture

He's not a dove, he's a turkey.

Mon, 10/01/2012 - 10:15 | 2844873 FubarNation
FubarNation's picture

When some fuckhead speaks and moves a market like that be careful gentlemen.  Something stinks in Denmark here.  Caution.

Mon, 10/01/2012 - 10:17 | 2844880 JPM Hater001
JPM Hater001's picture

Here's a question for you: Why is this assclown doing the interview?  This is like Gheoring doing an Oprah style interview with Hitler for the masses.


Neither of them have an actual clue what's going on.

Mon, 10/01/2012 - 10:18 | 2844883 Gavrikon
Gavrikon's picture

The Federal Reserve (Bloat) Note = "Not worth a Continental."

Mon, 10/01/2012 - 10:19 | 2844895 realitybiter
realitybiter's picture

Cupla points:

Why anyone would think they would apply normal, logical, scientific process to a study which is devoid of any science is boggling.  Its just make it up as you go bullshit.  Its crazy.  I learned more about economics trading matchbox cars when I was 7 than this guy knows after applying calculus to theories that are simply nonsensical.


There are two tragedies:  1) He is large and in charge.  2)  The only thing he has done with his life is polluting his own brain, apply this mind -f-ing to the economy, and then, MOST tragically, polluted thousands of other brains who are now out in the world mind-f-ing the rest of it......


In the sanity camp, SLW musta known he was gonna speak Monday, as it was up on Friday with silver down....

Mon, 10/01/2012 - 10:20 | 2844899 P229R
P229R's picture

He's not seeing inflation??! He must not eat, drive a car, or own a house.

Mon, 10/01/2012 - 10:32 | 2844950 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are really asking if he buys groceries, doesn't have a driver, and worry about a mortgage?

Mon, 10/01/2012 - 10:41 | 2844981 yogibear
yogibear's picture

Ex food and energy. As long as margins compress elsewhere and don't show up in i-Pods, housing and televisions everything is fine.

Even if they do show up they won't acknowlege them.

The Fed wants massive inflation, so it will hide it even as it's showing up in their numbers.

It's all perception.

Mon, 10/01/2012 - 10:29 | 2844923 kahunabear
kahunabear's picture

Evans really scares me. He makes me feel like a Rhesus monkey.

Mon, 10/01/2012 - 10:31 | 2844945 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Oh but he seems like such an intellectual and well meaning guy?  How could a nerd like this be evil?  He is well meaning, like all economists, isn't he?

Mon, 10/01/2012 - 10:33 | 2844953 mccoyspace
mccoyspace's picture

Does that mean we're moving from  aleph-naught  to aleph-one?

Mon, 10/01/2012 - 10:35 | 2844955 yogibear
yogibear's picture

When all those dairy cattle are gone milk and cheese prices climb.

The fed wants massive stagflation and their going to get it.

All to enable Washington to take on more and more debt. No more fiscal sanity anymore.

Mon, 10/01/2012 - 10:35 | 2844961 Colonial Intent
Colonial Intent's picture


"For Bradbury, culture is usually the problem — culture as affected by technology — not the decisions of the powers that be. Even Fahrenheit 451, which is about an evil regime, is in a sense an apolitical work. The government that tries to quash the last remnants of independent thought is not so much imposing its will as it is fulfilling the wishes of a degenerate society. It was not oppressive government policies, but decisions of the people, under the influence of technologies that sped up human experience too much, that undermined humanistic values and intellectual curiosity in the first place. Not state censorship, but a more general failure to value the mind, the imagination, nature, and a civilization’s hard-won insights, is the main target of criticism in that novel."

Mon, 10/01/2012 - 10:39 | 2844973 ebworthen
ebworthen's picture

Improving labor market conditions by buying Mortgage Backed Securities!?!?

What do these people smoke!?!? (or not smoke?).

p.s. I - Mr. Evans, I'm not refinancing my mortgage and extending/increasing my debt you ASS!

p.s. II: And drive your own car to the gas station and the grocery store so you have a fucking clue about INFLATION you FUCKTARD!

Mon, 10/01/2012 - 10:50 | 2845026 sschu
sschu's picture

This guy is just spouting words, they have no real connection with reality.  200K jobs per month?  Above 3% growth?  Reduced mortgage rates makes people to buy cars?  From where does he get these ideas?  After watching him, not sure even he believes this nonsense.

The unfortunate thing is these people get paid a lot of money to make horrible decisions that end up hurting tens-of-millions of people.

This is the stuff of revolutions.


Mon, 10/01/2012 - 11:01 | 2845072 topspinslicer
topspinslicer's picture

This is what (statist) dreams are made of

Mon, 10/01/2012 - 10:54 | 2845042 Ban KKiller
Ban KKiller's picture

I spend "money". I see inflation everyday. 

Mon, 10/01/2012 - 10:55 | 2845047 topspinslicer
topspinslicer's picture

I changed my hair style so many times I don't know what I look like!!!!! This aint no disco, this aint no party, this aint no fooling around!

(life during wartime -- this is what it looks like)

Mon, 10/01/2012 - 10:57 | 2845053 topspinslicer
topspinslicer's picture

I never slapped a biatch that didn't have it coming to him

Mon, 10/01/2012 - 11:02 | 2845074 mudduck
mudduck's picture

Why don't they get Santelli to interview him since they are in Chicago?

Mon, 10/01/2012 - 11:06 | 2845085 Sizzurp
Sizzurp's picture

The lunatics are clearly running the asylum.  How did these wackjobs get to be in charge again?

Mon, 10/01/2012 - 11:15 | 2845120 Darth Mul
Darth Mul's picture

There are two types of Keynsians:

The obtuse and arrogant who genuinely believe in their paradigm, and lack the intellectual fortitude to examine their own premises.  They will defend to the death their own position, no matter the contrary evidence, because their own ego and sense of moral superiority is wrapped up in their sham understanding of how things work.

After all, most economists think economics is a science.  Pretty much no scientists think it is.


The other type of Keynsian - your Krugmans and your Bernankes are in on the fix.  They know compounding interests and an economic model based on infinite growth will collide with a finite universe, and that a fiat currency is a great way to transfer wealth from middle class to rich/banks with few of the cattle even being aware.


This guy is likely the former type.


A frustrating aspect of ZH, from my perspective {granted - which isn't worth much} is a sense of indignation rather than anger.


What I mean is, much of the writing and commentary here proceeds as if the central bankers and their Lloyd Blankfein sort of pals, do what they do out of an intellectual conviction that they need to keep the economy 'growing.'


They are evil, not stupid.


The matter is not complicated or complex, it simply requires one to stop presupposing what the Fed and the 2 party system and the MSM presuppose - that how things are {not} working is the only way we could do it.


They are blowing up the dollar on purpose, and while far from everyone involved is a Jew, or a neocon - Zionism is inextrinsically bound up with international banking and the forces working toward global government. 


The confederates of the Zionists are too dumb, via brainwashing about 'antisemitism' {and presuming that facts, and evidence, if described as 'antisemitic' - cease to be fact or evidence} to understand that the Zionists, ultimately, will have no desire to share power with the non-Jews going along with them.  Read about the Talmud - avoid both the racists and the apologists.  Jews are greatly over-represented amongst international bankers, and our own banks and if you look at who chairs federal agencies having to do with banking/finance....  the sheer and overwhelming effective control of those positions by Jews is prima facie proof that we have a Zionist Occupation Government which has hijacked American military and economic might, and its foreign policy and media, in order to further Likud Israel's absurd, racist, megalomaniacal goals.


Goals which stem from the Talmud.





Mon, 10/01/2012 - 11:48 | 2845266 Nehweh Gahnin
Nehweh Gahnin's picture

Useless.  That is one of 'em that needs to be decorating a lamppost.

Mon, 10/01/2012 - 11:49 | 2845270 dcb
dcb's picture

he is a sack of shit as a human being.

Mon, 10/01/2012 - 11:54 | 2845283 holdbuysell
holdbuysell's picture

In a similar vein to Tyler's description of Evans, here's the Homer-style:

Evans is the doviest dove that ever doved. What a dove.



Mon, 10/01/2012 - 13:04 | 2845554 GoingLoonie
GoingLoonie's picture

This was the approximate statement that is the key, "<I have yet to have anyone explain to me how we get from where we are to hyperinflation>"

Let me expain it to you, Charlie, in one word.  VELOCITY.  All it is going to take is for the masses to figure out the fraud you and yours have covered up and voila!  VELOCITY.  And the dollar will tank, a la Argentina.  

No one taught you that Charlie?  How about graphing?  Can you graph the price of chicken?  How about rice?

Mon, 10/01/2012 - 23:06 | 2847304 BaggerDon
BaggerDon's picture

I am always amused, how CNBC attempts to provide these stooges for the banks credibility with the unwashed by such titles as DOCTOR, or in this case PRESIDENT of the Federal Reserve of Chicago.........give us a break........this video pretty much sums up what we think of the Fed, the sheeple are getting more and more......

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