Quote Of The Day From Bill "Edible iPad" Dudley

Tyler Durden's picture

Tuesday humor struck early, courtesy of Goldman's head of the New York Fed, Bill Dudley:


That in itself is not the humor. The humor is, as always the context. Such as this:


Now that is funny when one considers the following past headlines:

  • May 2010: "The U.S. economy is recovering and we are now seeing the first signs of significant employment growth"
  • February 2011: "Fed’s Dudley: Sees Higher Growth In 2011, 2012"
  • August 2011: "Growth during the second half of 2011 will be “significantly firmer” than in the first six months"
  • May 2012: "If Growth Continues, More Fed Stimulus Isn’t Warranted"
  • November 2012: "This rebuilding will continue well into 2013, likely providing for somewhat stronger growth than otherwise would have been the case"

And so on - one of these years he may be right, although not before another $2.7 trillion in Fed excess reserves. Of course,  what else can one expect from the man whose only contribution to economics is proving the hedonic deflationary benefit of edible iPads.

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pods's picture

Why is it that growth will pick up NEXT year?

I have heard that since about 2010.


candyman's picture

Correction, Green Shoots began back in 08-09,

jbvtme's picture

"Nell, I can't beeelieve it".  Dudley Do Right

idea_hamster's picture

This guy is like the Stolper for the whole f'n economy.

Bay of Pigs's picture

He is exactly that.

Dudley is chairman of the Committee on the Global Financial System of the Bank for International Settlements (BIS). He belongs to the Group of 30 as well. My guess is he is the man running the entire system in NYC, and not their puppet spokesman Bernanke.

nope-1004's picture

<------ DUDLEY         or

<------ DOOFUS


FL_Conservative's picture

When things get serious.....lie.

kridkrid's picture

Hey man... sorry if I was kind of an ass to you last week. My bad.

espirit's picture

Dud - If'n you rub it hard enuf, it will grow.

Maybe though in your case, viagra or cialis might help.

FL_Conservative's picture

It's all good, krid.   No blood, no foul.  The beauty of the anonymous WWW. 

knukles's picture

Wait, there's more!
And if you buy now....

The Gooch's picture

Keep this shit going viral, Komrades.

Kalifornia -


 Hawthorne P.D. (not cop on scene)

Lieutenant Scott Swain
Desk:(310) 349-2835
Cell: (310) 345-2348
email: kswain@cityofhawthorne.org

The Gooch's picture

Thanks, Knuk but that site is sketchy... Will check @ home.

Anyone know what the shooters name is?

Komrade Lieutenant Swain won't answer his phone and his V.M. is full...

Herd Redirection Committee's picture

The cop better go to jail for a long time.


Herd Redirection Committee's picture

They sure protect and served the shit out of that guy.

pods's picture

The Watchmen certainly don't like being watched.  Fucking SWAT team.  Bunch of Jack Booted adrenalin junkies trying to get their rocks off.

Don't talk to a cop, ever.

Two statements:

Am I being detained?

I want a lawyer.


Herd Redirection Committee's picture

Its almost like they recruit sociopaths and goons....  Nah...  I'm just being paranoid, right?

knukles's picture

Hi Gooch,
I know the site has alotta odd and questionable stuff all over it, but does provide a ton links to reports and vids like that above ... 
Must sort wheat from chaff, but can be handy.

flacon's picture


See/read/speak it enough times and it looks alien.  

CPL's picture

There's a sign at the Legion behind the barkeep that states "Free beer tommorrow." but when i go it's "today".

ZaphodBeeblebrox's picture

Reminds me of the phrase: There will be free beer tomorrow.

put_peter's picture

it is because this is the classic everything better next year scam.

101 years and counting's picture

recessions are normal.  part of the economic cycle.  so are depressions.  the longer they try to avoid tbe inevitable, the worse it will be when it arrives.

kridkrid's picture

I think that your statement marginalizes the "crimes against humanity" that our monetary system represents. The debt that has been foisted upon humanity, both directly and indirectly, under the guise of some sort of natural eCONomy should be considered criminal. We should not feel comfortable explaining this away as some sort of natural cyclical economic cycle.

pods's picture

Sucks all around Krid that this is taught as normal now.

And with deflation as well. Deflation USED to be a good thing as prices fell for people due to competition and productivity gains.

Now, deflation is the death knell for our debt based system, so much so that everyone accepts 2% inflation, which robs 2% from everyone holding FRNs.


kridkrid's picture

I don't know if you've ever seen the propaganda films about inflation and why it's a good thing... circa 30's and 40's. They were clearly "over the top"... but didn't seem like it at the time, I'm sure. But they succeeeded. We are so many generations removed from critical thought surrounding monetary policy that skepticism falls primarily against those who question our monetary system instead of the criminals in charge of it.

Herd Redirection Committee's picture

The truth is, if there were no bailouts, yeah, the last 4 years would have been painful.  Turbulent.  Rioutous even.

But we would genuinely be recovering by now. 

kridkrid's picture

I question that assumption. We have been on an unprecedented 40+ year "experiment". It isn't just that fiat money isn't really anything... it's that all of that fiat money has been loaned into existence. All collateral has been rehypothecated so many times over that the daisy chain of global collapse will be unlike anything we've every wittnessed, I believe. Going back 4 years wouldn't change a thing. All just my opinion, of course.

Herd Redirection Committee's picture

Assuming everything collapsed (instead of the bank bailouts and ZIRP), things would be recovering by now.

Not assuming there were no bailouts, and everything else continued like nothing happened.

Xibalba's picture

Green Shoots! (in foot)

Unknown Poster's picture

Lead free primers and bullets. ;-)

gimli's picture

Methinks Dudders is a bit too optimistic about the Fed's optimism.

slaughterer's picture

Dudley: what Stolper will become with a promotion.  

Dollar Bill Hiccup's picture

Mr. Dudley should wax his legs and try out for a cheerleading squad.

Ra ra ra.

gimli's picture

I think Dudley also predicted that Apple will add 8-10 new flavors of Ipad in 2014.

LetThemEatRand's picture

For some reason, whenever I order iPad takeout, I am hungry again just an hour or so later.  Strange.

dcb's picture

these people are criminals of the highest order, they need to be treated as such.

as long as cheap miney flows to him and his goldman cronies, that is all he cares about.

TrustWho's picture

The Fed must be preparing the excuses that blames everyone else for the coming drop. I bet the fear is thick enough you could cut it with a knife. Beheadings are coming, but again, Daddy Bernanke may make the "Hakuna Matata" speech and the algos will spike UP!

Dr. Engali's picture

Prosperity is always 'just around the corner' with these guys. "Bare with us it's coming we promise". I don't suppose it ever occurs to them that perpetual growth is not necessarily a good thing. 

Cognitive Dissonance's picture

The PONZI high priest has spoken. Please extend your Papal....er.....Ponzi ring so that I may grovel on my knees while kissing it.

Dr. Engali's picture

Hey CD. How's the new place? Are you adjusting to the new living environment?

Cognitive Dissonance's picture

Mrs. Cog and I are quickly adapting to the slower "Mountain Time" mentality very nicely. Great people around here who, while showing some caution while interacting with the "city folk", could not be more gracious and welcoming.

To be perfectly honest I suspect the locals don't expect us to last thru the coming winter. If so that just affords us more ways to surrpise and delight them when we do. Both Mrs Cog and I spent most of our childhood in the northern US so heavy snow, bitter cold and bad roads are not new to us.

Mrs. Cog has penned an article detailing some of our experiences during the ongoing transition. I shall be guest posting Mrs Cog's debut here on ZH in a few days or sooner. Stay tuned.

Dr. Engali's picture

Well good luck. I look forward to Mrs. Cog's article.

Bay of Pigs's picture

Best wishes and good luck to you CD.

Peace and Aloha...


chubbar's picture

Hey Cog, without being too specific, what area have you moved to?

Mrs. Cog's picture

The Blue Ridge Mountains, high above the clouds.

ebworthen's picture

"Mustard seeds!  Green shoots! 

Wait...astro-turf...my bad."