This page has been archived and commenting is disabled.

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:

  • DUDLEY SAYS FED AT TIMES WAS `TOO OPTIMISTIC' ON FORECASTS

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

  • DUDLEY SEES STRONG CASE GROWTH TO PICK UP 'NOTABLY' IN 2014

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.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 07/02/2013 - 13:25 | Link to Comment pods
pods's picture

Why is it that growth will pick up NEXT year?

I have heard that since about 2010.

pods

Tue, 07/02/2013 - 13:27 | Link to Comment candyman
candyman's picture

Correction, Green Shoots began back in 08-09,

Tue, 07/02/2013 - 13:29 | Link to Comment jbvtme
jbvtme's picture

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

Tue, 07/02/2013 - 13:32 | Link to Comment idea_hamster
idea_hamster's picture

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

Tue, 07/02/2013 - 13:52 | Link to Comment Bay of Pigs
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.

Tue, 07/02/2013 - 14:03 | Link to Comment nope-1004
nope-1004's picture

<------ DUDLEY         or

<------ DOOFUS

 

Tue, 07/02/2013 - 14:04 | Link to Comment FL_Conservative
FL_Conservative's picture

When things get serious.....lie.

Tue, 07/02/2013 - 14:24 | Link to Comment kridkrid
kridkrid's picture

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

Tue, 07/02/2013 - 16:07 | Link to Comment espirit
espirit's picture

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

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

Tue, 07/02/2013 - 16:14 | Link to Comment FL_Conservative
FL_Conservative's picture

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

Tue, 07/02/2013 - 13:32 | Link to Comment knukles
knukles's picture

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

Tue, 07/02/2013 - 13:32 | Link to Comment The Gooch
The Gooch's picture

Keep this shit going viral, Komrades.

Kalifornia -

http://www.dailymail.co.uk/news/article-2353347/Police-shoot-kill-Rottweiler-street-dog-runs-owner-arrested-obstruction-justice.html

 Hawthorne P.D. (not cop on scene)

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

Tue, 07/02/2013 - 13:47 | Link to Comment knukles
Tue, 07/02/2013 - 13:56 | Link to Comment The Gooch
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...

Tue, 07/02/2013 - 14:05 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

The cop better go to jail for a long time.

Criminal.

Tue, 07/02/2013 - 14:10 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

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

Tue, 07/02/2013 - 14:25 | Link to Comment pods
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.

pods

Tue, 07/02/2013 - 15:06 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

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

Tue, 07/02/2013 - 14:13 | Link to Comment knukles
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.
K

Tue, 07/02/2013 - 13:30 | Link to Comment flacon
flacon's picture

a cancer GROWTH. GROWTH. GROWTH. GROWTH. GROWTH. GROWTH. GROWTH. GROWTH. 

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

Tue, 07/02/2013 - 13:27 | Link to Comment CPL
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".

Tue, 07/02/2013 - 13:28 | Link to Comment azzhatter
azzhatter's picture

Fuck You Dudley

Tue, 07/02/2013 - 14:32 | Link to Comment ZaphodBeeblebrox
ZaphodBeeblebrox's picture

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

Tue, 07/02/2013 - 14:59 | Link to Comment put_peter
put_peter's picture

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

Tue, 07/02/2013 - 13:25 | Link to Comment 101 years and c...
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.

Tue, 07/02/2013 - 13:54 | Link to Comment kridkrid
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.

Tue, 07/02/2013 - 14:21 | Link to Comment pods
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.

pods

Tue, 07/02/2013 - 14:43 | Link to Comment kridkrid
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.

Tue, 07/02/2013 - 13:57 | Link to Comment Herd Redirectio...
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. 

Tue, 07/02/2013 - 14:15 | Link to Comment kridkrid
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.

Tue, 07/02/2013 - 15:08 | Link to Comment Herd Redirectio...
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.

Tue, 07/02/2013 - 13:25 | Link to Comment Xibalba
Xibalba's picture

Green Shoots! (in foot)

Tue, 07/02/2013 - 13:30 | Link to Comment Unknown Poster
Unknown Poster's picture

Lead free primers and bullets. ;-)

Tue, 07/02/2013 - 13:27 | Link to Comment gimli
gimli's picture

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

Tue, 07/02/2013 - 13:28 | Link to Comment slaughterer
slaughterer's picture

Dudley: what Stolper will become with a promotion.  

Tue, 07/02/2013 - 13:28 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

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

Ra ra ra.

Tue, 07/02/2013 - 13:31 | Link to Comment gimli
gimli's picture

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

Tue, 07/02/2013 - 13:33 | Link to Comment LetThemEatRand
LetThemEatRand's picture

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

Tue, 07/02/2013 - 13:33 | Link to Comment dcb
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.

Tue, 07/02/2013 - 13:33 | Link to Comment Colonel Klink
Colonel Klink's picture

LIAR!

Tue, 07/02/2013 - 13:34 | Link to Comment TrustWho
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!

Tue, 07/02/2013 - 13:55 | Link to Comment Dr. Engali
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. 

Tue, 07/02/2013 - 13:37 | Link to Comment Cognitive Dissonance
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.

Tue, 07/02/2013 - 13:38 | Link to Comment Dr. Engali
Dr. Engali's picture

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

Tue, 07/02/2013 - 14:00 | Link to Comment Cognitive Dissonance
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.

Tue, 07/02/2013 - 14:06 | Link to Comment Dr. Engali
Dr. Engali's picture

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

Tue, 07/02/2013 - 14:08 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Best wishes and good luck to you CD.

Peace and Aloha...

 

Tue, 07/02/2013 - 14:52 | Link to Comment chubbar
chubbar's picture

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

Tue, 07/02/2013 - 15:21 | Link to Comment Mrs. Cog
Mrs. Cog's picture

The Blue Ridge Mountains, high above the clouds.

Tue, 07/02/2013 - 13:41 | Link to Comment ebworthen
ebworthen's picture

"Mustard seeds!  Green shoots! 

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

Tue, 07/02/2013 - 13:37 | Link to Comment madbraz
madbraz's picture

Of all the bad human beings running things in DC and Wall Street, Dudley ranks high up there with Rubin and Summers as the most dangerous to the American people (who are not in the 1%).  Only thing the guy cares about is protecting the banks.

Tue, 07/02/2013 - 13:37 | Link to Comment HowardBeale
HowardBeale's picture

What is this color? I do not think this color means what you think it means?

Tue, 07/02/2013 - 13:38 | Link to Comment criticalreason
criticalreason's picture

id like to see a list of ZH gold price predictions last few years...

Tue, 07/02/2013 - 13:58 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

So you don't believe in gold manipulation?  Please tell me more.

Tue, 07/02/2013 - 13:39 | Link to Comment disabledvet
disabledvet's picture

The Consensus emerges in Washington DC. Now The Collective emerges in New York. What comes next is so obvious only the short sellers don't get it.

Tue, 07/02/2013 - 13:40 | Link to Comment youngman
youngman's picture

Did Dudley used to work for Popiel.......and do you get a cap snaffler if you buy one....and thats not all.....

Tue, 07/02/2013 - 13:42 | Link to Comment Yancey Ward
Yancey Ward's picture

I was too optimistic that the Fed was made of retarded dumbasses.

Tue, 07/02/2013 - 13:46 | Link to Comment Son of Loki
Son of Loki's picture

"Congress failed in a last-ditch effort to reach a deal on student loans. As a result, interest rates on some federal student loans doubled to nearly 7 percent on Monday."

 

 

http://finance.yahoo.com/news/doubled-student-loan-rates-mean-205944657....

Tue, 07/02/2013 - 14:01 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Debt slavery, bitchez.

Tue, 07/02/2013 - 13:46 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

Now i'm really fucking confused. I would reach for the booze, But that agitates my gallbladder

Tue, 07/02/2013 - 13:47 | Link to Comment HowardBeale
HowardBeale's picture

Has anyone seen my 10-year yield? It was laying around down here somewhere?

Tue, 07/02/2013 - 13:57 | Link to Comment ziggy59
ziggy59's picture

How much money did GS make before and after the release of comments from Dudley?

Tue, 07/02/2013 - 14:04 | Link to Comment devo
devo's picture

Fuck you, Dudley.

Tue, 07/02/2013 - 16:36 | Link to Comment yogibear
yogibear's picture

Dudley, Evans, Bullard, Rosengren and Yellen don't have the US citizen's interest in mind. It's the banks and banksters they serve. 

Tue, 07/02/2013 - 14:33 | Link to Comment put_peter
put_peter's picture

is it really necessary to these guys to open their mouths.

Tue, 07/02/2013 - 14:33 | Link to Comment put_peter
put_peter's picture

is it really necessary to these guys to open their mouths.

Tue, 07/02/2013 - 14:54 | Link to Comment SKY85hawk
SKY85hawk's picture

This posting would really have some punch if the Actual Growth & GDP #'s were included.

Zerohedge has 'em, if anyone has 'em!

 

Tue, 07/02/2013 - 15:28 | Link to Comment jon dough
jon dough's picture

DUDLEY SEES STRONG MENTAL CASE GROWTH TO PICK UP 'NOTABLY' IN 2014.

 

Fixed it for you Dud...

Tue, 07/02/2013 - 15:40 | Link to Comment Rick Blaine
Rick Blaine's picture

To stay keep in tune with the vast majority of the MSM, the headline (or whatever) should have been:

 

  • DUDLEY "UNEXPECTEDLY" SAYS FED AT TIMES WAS `TOO OPTIMISTIC' ON FORECASTS
Tue, 07/02/2013 - 16:08 | Link to Comment jmc8888
jmc8888's picture

Ha ha, funny stuff.

There was a great one from Lies-man on CNBC today regarding all the behavioral nonsense that goes on with our market.

He actually said in regards to people reducing their electricity consumption...that, "that's the way behavioral economics produces electricity"

What a fucking moron.  You could tear that whole piece a new asshole.

Here it is. You have to be one dumb fuck to believe what they believe.  (and that it is legitimate and correct, like the whole herd mentality being good and the assumptions that all humans do it)

http://video.cnbc.com/gallery/?play=1&video=3000180063

 

Glass-Steagall

Tue, 07/02/2013 - 16:32 | Link to Comment yogibear
yogibear's picture

Dudley pays visits to his masters at Goldman Sachs all the time. Guess who he's really working for?

Tue, 07/02/2013 - 17:24 | Link to Comment starman
starman's picture

I got growth as well its the hemeroids in my ass! 

Do NOT follow this link or you will be banned from the site!