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Julian Robertson Warns "We Are In A Bubble Market" And Yellen Is "Way Too Easy Money"

Tyler Durden's picture


"Steve Jobs was really a pretty terrible man... and I just don't believe bad guys do well in the long run," is the subtle way the billionaire fund managed describes the ex Apple CEO before shifting his view to the broader market. A spell-bound Maria Bartiromo was looking for any silver lining when Julian Robertson responded ominously, "we're in the middle of a kind of bubble market," and when they "prick the bubble, there will probably be a pretty bad reaction." With views on The Fed's easy-money, Twitter, and market frothiness, Robertson is a breath of truthy fresh air that we suspect will not be back on the money-honey's show anytime soon...



On Steve Jobs:

"I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was, could possibly create a great company for the long term.


I just don't believe bad guys do well in the long run," Robertson said.

On The Market:

...the broader market is "fully valued" and otherwise appears a little frothy.


"I think we're in the middle of a kind of bubble market, where it's going to take something bubble-like to happen to prick the bubble and will probably have pretty bad reaction to the breaking of the bubble," Robertson said.


"Probably will not [happen] right now and somehow I think we'll wallow through the political and fiscal crisis we have in front of us and then we'll sort of see what happens."

On The Fed:

...he would not prefer Vice Chair Janet Yellen because he thinks she's "way too easy money."


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Mon, 10/07/2013 - 20:44 | 4032607 TaperProof
TaperProof's picture

Jobs did always seem like a douche

Mon, 10/07/2013 - 20:47 | 4032613 fonzannoon
fonzannoon's picture

she's not spell-bound she's a retard.

Mon, 10/07/2013 - 20:49 | 4032622 Pure Evil
Pure Evil's picture

Well, at least Janet's not EASY some other way.....

Mon, 10/07/2013 - 20:53 | 4032629 NemoDeNovo
NemoDeNovo's picture

YIKES - NO not that visual, shes "Almost" scarier then Big Sis or Hitlery nekkid ~ Vomits

Mon, 10/07/2013 - 20:59 | 4032644 Arius
Arius's picture

good to see someone has still values and principles...

Mon, 10/07/2013 - 21:02 | 4032655 Careless Whisper
Careless Whisper's picture

SJ insisted on suicide nets at the factory. He wasn't all bad.

Mon, 10/07/2013 - 21:15 | 4032679 Popo
Popo's picture

I'm surprised Maria Barteroromero didn't throw up her hands and say, "Oh you read it in the BOOK.  What are the facts?  How can a man that makes money be bad?   Thanks for coming on the show."    

Mon, 10/07/2013 - 23:14 | 4032936 Stackers
Stackers's picture

For a true look into how big of a piece of crap of person Steve Jobs was watch the movie The Pirates of Silicon Valley.Not only in business was he a complete scum bag, but also in his personal life regarding his daughter he abandoned as his business success exploded. completely moraless slave driving theiving scum of the earth

Tue, 10/08/2013 - 00:55 | 4033077 Fish Gone Bad
Fish Gone Bad's picture

Wow, I didn't like Jobs because I thought ipods were just stupid, having to replace the battery or buy a new ipod every year.  Good to know now I can dislike him for being a tool.

Tue, 10/08/2013 - 06:40 | 4033225 thestarl
thestarl's picture

I think Jobs epitomised the fundamental flaw with globalisation if you keep pushing down labour costs be it outsourcing to China or wherever soon no one earns enough to consume only to subsist.

Tue, 10/08/2013 - 07:54 | 4033274 onewayticket2
onewayticket2's picture

but in pushing labor demand to a low cost market, you are helping the low cost market become less of a low cost market.  youre fueling their local economy....while fueling further demand of said product via lower retail prices in the home mkt....globalisation equalizes outcomes - isnt that was the left wants?  sure it lowers labor cost, but in a way that floats all boats and rises the tide.  no?

Mon, 10/07/2013 - 21:12 | 4032658 DJ Happy Ending
DJ Happy Ending's picture

Steve Jobs always paid me, I could care less if he was an asshole. To each his own.

Mon, 10/07/2013 - 21:44 | 4032751 i_call_you_my_base
i_call_you_my_base's picture

You make his point.

Mon, 10/07/2013 - 22:02 | 4032771 DJ Happy Ending
DJ Happy Ending's picture

Please elaborate, I don't get it.

Mon, 10/07/2013 - 23:46 | 4032988 wee-weed up
wee-weed up's picture

People who "enable" assholes wouldn't "get it."

Tue, 10/08/2013 - 00:33 | 4033035 DJ Happy Ending
DJ Happy Ending's picture

Thank you, that was as enlightening as all the down votes. It's easier to judge and criticize than discuss or debate.

Tue, 10/08/2013 - 00:33 | 4033059 DeadFred
DeadFred's picture

In simple terms the video talks about how a nasty-ass guy like Jobs (I know several people who worked one-on-one with the guy and all would agree with this assessment) may be able to hold a company together with his genius but can't create a culture that would survive him. This assumes that the 'better side' of humanity, such things as trust, fairness, cooperation is required for an long lived organization and that a character disordered individual can't impart into his creation that which he doesn't have within himself. Your comment comes across as destinctly lacking in character so many concluded the point was made. I can see two possible avenues for argument, that your comment did not acurately reflect your character or that a character disordered company can live long and prosper. Option one has a better chance of succeeding in my opinion.

Tue, 10/08/2013 - 11:36 | 4033935 DJ Happy Ending
DJ Happy Ending's picture

What's worse, taking an asshole's money or giving him yours?

How many of you have purchased an Apple product?

I remember when this place had more libertarians and fewer hypocrites.

Tue, 10/08/2013 - 00:54 | 4033072 wee-weed up
wee-weed up's picture



DJ Happy Ending

You got all the down votes because you said...

you didn't care if someone was an asshole...

as long as they paid you.

A lot of cheap whores on the street say something like that also.

Tue, 10/08/2013 - 02:53 | 4033158 Kirk2NCC1701
Kirk2NCC1701's picture

I'm surprised that for a 'bright' guy -- paid by SJ no less -- that he didn't "get" the point that you had to spell out for him.

Maybe he has a high IQ, but clearly a low EQ. 

Tue, 10/08/2013 - 05:48 | 4033209 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Why are you so down on "cheap whores"?

Mon, 10/07/2013 - 22:02 | 4032789 howenlink
howenlink's picture

I logged on to UP ARROW you, _base.

Mon, 10/07/2013 - 23:57 | 4033015 prains
prains's picture



what they're saying is, your "what makes an asshole" threshold is quite LOW.

if you raised the bar a little bit, you'd suddenly realize he was a complete dripping douche with a huge fungal problem around the brainal area, it's actually quite plain to see to most typical human beings and you didn't even need to meet the douche to know it. In short you need a major douche 2.0 upgrade to just become a salient human again



Mon, 10/07/2013 - 20:59 | 4032646 NoDebt
NoDebt's picture

Steve Jobs first tour at Apple he was a douche.  From someone I know who worked with him back then he had plenty to say about the guy (who made him rich, by the way).  I can't remember everything he said, but one comment has stuck with me:  "Steve Jobs wasn't interested in anything he couldn't snort up his nose."

I hear he had mellowed a bit the second time around.

Mon, 10/07/2013 - 21:37 | 4032733 booboo
booboo's picture

Her nick name at Yale was "Skippy" cause she spread (Hunnphhhh, *spits*.... just a minute..)......cause she spread easy.

Tue, 10/08/2013 - 01:03 | 4033086 All Risk No Reward
All Risk No Reward's picture

Yellen does what she's told.

When she's told to saturate the planet with debt, Yellen says, "how much?"

When she's told to bankrupt Earth, Yellen says, "how fast?"

 It must not be felt that these heads of the world's chief central banks were themselves substantive powers in world finance. They were not. Rather, they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers (also called "international" or "merchant" bankers) who remained largely behind the scenes in their own unincorporated private banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the re-discounting of commercial debts; they could dominate governments by their control over current government loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coupe, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates. In this system the Rothschilds had been preeminent during much of the nineteenth century, but, at the end of that century, they were being replaced by J. P. Morgan whose central office was in New York, although it was always operated as if it were in London (where it had, indeed, originated as George Peabody and Company in 1838). Old J. P. Morgan died in 1913, but was succeeded by his son of the same name (who had been trained in the London branch until 1901), while the chief decisions in the firm were increasingly made by Thomas W. Lamont after 1924. But these relationships can be described better on a national basis later. At the present stage we must follow the efforts of the central bankers to compel the world to return to the gold standard of 1914 in the postwar conditions following 1918.
~Carroll Quigley, Tragedy and Hope

Part 7 is well worth the read.  Quigley is the only human being given full access to the Council on Foreign Relations library and allowed to put what he learned into a book.  He lays out history from the perspective of an oligarch - and he names names, dates and purposes of so many conspiracies your head will spin.

Tue, 10/08/2013 - 13:00 | 4034298 Fíréan
Fíréan's picture

@ All Risk No Reward.

Thank youfor the Quigly pointer, reference and link.

Mon, 10/21/2013 - 01:30 | 4075174 All Risk No Reward
All Risk No Reward's picture

No, thank you for being discerning and understanding the value of a resource like this.

Here are two more...

The Shadows of Power: The Council on Foreign Relations and the American Decline | James Perloff

Mon, 10/07/2013 - 21:42 | 4032742 yogibear
yogibear's picture

Who in the F would want to do her?

Tue, 10/08/2013 - 07:51 | 4033269 Chaos_Theory
Chaos_Theory's picture

She was a hell of an actor.  Remember her as Billy Crystal's assistant in The Princess Bride

Mon, 10/07/2013 - 22:15 | 4032817 ABG LINE
ABG LINE's picture


Mon, 10/07/2013 - 22:38 | 4032863 Blano
Blano's picture

Why, did you give it a go?

Mon, 10/07/2013 - 20:59 | 4032649 Hughing
Hughing's picture

can't we all just get along?

Mon, 10/07/2013 - 21:10 | 4032675 NoDebt
NoDebt's picture


Mon, 10/07/2013 - 22:41 | 4032868 Blano
Blano's picture


Mon, 10/07/2013 - 21:39 | 4032737 Jack Burton
Jack Burton's picture

Look how badly she is beinning to sag. The Money Honey is a granny underneath all the make up and hair, and special lighting. She needs a push up bra at her age.

Steve Jobs, I have never ever made on single comment on that man. I was never very interested in Apple, though god knows I heard enough about him and Apple. I break my silence, after hearing about him now for a very long time, I believe he could and did make lots of money. But I do not worship Apple, or it's products. Jobs was a saleman and a ruthless manipulator, or manager, whatever you want to call him. As an American, he was a perfect fit. He sold his products to wild eyed consumers who were levered up to afford the Apple life style. He made his products in China in slave conditions where humans were part of the subcontractors Apple deniablity cover. In other words, Apple could abuse and cheat low wage slaves and do it in secret behind the great cover companies. He manufactured abroad, he avoided most taxes and still Apple holds it's money abroad. He profited from America and it's people, he profited from China and it's people, and he never let the the tax men get a cut. In his personal and business life he was not an inovater or inventer, he knew how to live of of others creativity.

He died just as he deserved, arrogant up until he realized he was just another human animal like us all. He was not a person any decent human would want as friend or family. But he made shit loads of money, so some will worship and admire him. I am not one of those!

Tue, 10/08/2013 - 00:36 | 4033065 bonin006
bonin006's picture

I wonder if some advice from Raquel Welch would do Maria any good. Regarding Jobs, the wikipedia entry about Wozniak says Jobs screwed him right from the begining (but when he found out later he didn't even care). That probably made Jobs even more of an asshole as it confirmed he could get away with it.

Tue, 10/08/2013 - 03:00 | 4033164 Kirk2NCC1701
Kirk2NCC1701's picture

'De gustibus non disputandum'.  To each his own. 

Personally, I was quite mesmerized by her 'natural' look.  So tired of all the fake Si, PU bras, botox, fake money, fake everything.  Go Maria!

Mon, 10/07/2013 - 21:55 | 4032774 infinity8
infinity8's picture

I get so irritated by that stupid bitch I didn't watch - makes me a little crazy.

Mon, 10/07/2013 - 22:35 | 4032850 Nobody For President
Nobody For President's picture

I don't watch TV, but watched this clip and finally got to see what some of the ZH dogs meant about Maria's nipples...

Was she interviewing somebody?

Mon, 10/07/2013 - 23:31 | 4032979 orangedrinkandchips
orangedrinkandchips's picture

Thats 1 for the treble, 2 for the base, MARIA'S GOT NUT ALL OVER HER FACE.....

Mon, 10/07/2013 - 23:35 | 4032985 brettd
brettd's picture

Hilary's lover.

Tue, 10/08/2013 - 00:48 | 4033069 mc225
mc225's picture

maria pokies

Tue, 10/08/2013 - 01:23 | 4033102 xtop23
xtop23's picture

I couldn't care less if he was a douche....I didn't work for him.

You gotta give him props, damn good businessman.

Mon, 10/07/2013 - 20:45 | 4032612 ZerOhead
ZerOhead's picture

< Yellen

< Not Yellen

Next Fed Chair?

Mon, 10/07/2013 - 20:48 | 4032615 The Big Ching-aso
The Big Ching-aso's picture

Is he saying Jobs was a bad apple?

Mon, 10/07/2013 - 21:00 | 4032626 ZerOhead
ZerOhead's picture

Bad to the iBone...

(Apples' new hi-tech offering for the American dog market)

Mon, 10/07/2013 - 21:06 | 4032664 Bobportlandor
Bobportlandor's picture

It's bad to the Core

Mon, 10/07/2013 - 23:16 | 4032945 vulcanraven
vulcanraven's picture

Dual Core even

Mon, 10/07/2013 - 20:51 | 4032625 SnobGobbler
SnobGobbler's picture

how 'bout no more 






Mon, 10/07/2013 - 22:04 | 4032788 infinity8
infinity8's picture

who else? WH mouthpiece CNN has been billing her from the get-go. And, she hasn't rejected the notion, the fat whore. who? she's in there like swim-wear.


And, didn't vote either way - what the fuck do I know? WTF does anyone know? Jus' sayin.


Tue, 10/08/2013 - 00:09 | 4033028 Cosmicserpent
Cosmicserpent's picture

Kohn will be the next chair.

Mon, 10/07/2013 - 21:03 | 4032621 Brett Merkey
Brett Merkey's picture



What is this Robertson fellow up to? Selling now? Steve Jobs was surely a lot meaner alive but he did not sell then. A moral rationale for seeing the top to the Apple-ish market?


Tue, 10/08/2013 - 03:10 | 4033170 Freddie
Freddie's picture

Julian Robertson has been around a long time.  He is an old time hedge fund value investor and one of the best.  He had at least three funds or more at one time.  Tiger, Jaguar and I think another cat name were three of the funds.  At the peak he managed about $22 billion. 

He is from NC and supposedly a decent man and mentor to his managers.  He shut down one fund in 2000 because tech bubble was killing value funds.   The close of that fund was just about the top of the market.  2 or 3 month later - tech blew up and value stocks went on a tear.

Mon, 10/07/2013 - 20:51 | 4032623 ToNYC
ToNYC's picture

She's selling comfort food; this guy's broccoli!

Mon, 10/07/2013 - 20:58 | 4032627 Blazed
Blazed's picture

Whatever they do, they better not put a Gentile simpleton in there, they aren't quite intelligent enough to understand the complex and sophisticated monetary dynamics.

Tue, 10/08/2013 - 07:57 | 4033282 verum quod lies
verum quod lies's picture

Don't worry, simpleton or not, no gentile/goy will be the next Fed head.

Mon, 10/07/2013 - 20:54 | 4032638 sbenard
sbenard's picture

Remember David Stockman's description of Yellen?

Calamity Janet!

Mon, 10/07/2013 - 20:59 | 4032648 Spastica Rex
Spastica Rex's picture

How could anyone say something negative about St. Jobs? Isn't blasphemy illegal in the US?

Mon, 10/07/2013 - 21:01 | 4032650 buttmint
buttmint's picture

enfant terrible.....guess he was able to whip others into a frenzy to produce their best---so, who is to know?


Mon, 10/07/2013 - 21:00 | 4032653 Smartie37
Smartie37's picture

Anyone remember when Tiger was disbanded ?  

And what happened soon thereafter ?

Would Yellen be even easier than Greenspan ???

Mon, 10/07/2013 - 21:05 | 4032661 Geruda
Geruda's picture

Stupid talkings as we are having always.  The man he is saying all the peoples who many peoples are calling 1 percenters are good peoples then because they ARE doing good?    Many stupid ZH'ers will be eating what he is saying like they were having good foods because they are not having intelligent thinking about what he is speaking.  Is James Dimond or the president who was cheney being good peoples because they are having much monies they did many bad things to be having?   Stupid talking!

Mon, 10/07/2013 - 21:06 | 4032671 NoDebt
NoDebt's picture

I nominate this for post of the year.

Mon, 10/07/2013 - 21:16 | 4032685 Pure Evil
Pure Evil's picture

I think when Tyler introduced the phrase "FULL RETARD" he had Gertruda in mind.

Mon, 10/07/2013 - 21:19 | 4032686 Yen Cross
Yen Cross's picture

    I think he needs to pack up his picnic, hop back in his pedal car and head home before his Mother realizes he left the basement...

Mon, 10/07/2013 - 21:46 | 4032750 fonzannoon
fonzannoon's picture

I have never, EVER, laughed so hard at a post. I am literally crying right now and my wife thinks I am fucking nuts.

That was tremendous.Wow! What the fuck was that about?

Mon, 10/07/2013 - 21:54 | 4032777 Yen Cross
Yen Cross's picture

    Like a box of never know what you're gonna get. :-)

Tue, 10/08/2013 - 00:14 | 4033033 Balanced Integer
Balanced Integer's picture




NOTE: This item may ship in its original packaging and not in a box.


This is what had me laughing, right after I got done laughing at the actual product. Double bullseye, one bullet - Wild Bill Hickock would be proud of you, sir.

Tue, 10/08/2013 - 03:04 | 4033166 Freddie
Freddie's picture

Be nice folks.  The poster is a bot probably over at the Fed or The JP Morgue - same thing. 

They just need to tweak it out of full retard mode.  They are still trying to fix The ObamaCare web site but due to sequestration and the govt shutdown - they only have money to harass 90 year old WW2 vets right now.

Mon, 10/07/2013 - 22:37 | 4032857 Nobody For President
Nobody For President's picture

Yeh. 'Stupid talkings we are having always.'

Instant classic!

Move over MDB, you have been blown away, and Boris is in great danger.


Mon, 10/07/2013 - 22:46 | 4032884 Hulk
Hulk's picture

I would love to read what Geruda thinks about Gold...

Tue, 10/08/2013 - 00:08 | 4033027 prains
prains's picture

...and then his thoughts on Dog, would pretty much mean the Age of Aquarius is in full Bloom.......I await his sprinkles of troothiness

Tue, 10/08/2013 - 03:10 | 4033169 Geruda
Geruda's picture

Golds.  I am having many golds but I am not having excitement about golds like many ZH'ers are having.  When golds are becoming with more valuable many stupids are saying they will be having the truck to be backing up when the price is dropping but they are talking like stupids because now the prices of golds is being very cheaper but they are not talking about trucks now.  Instead they are having many afraids gold will be going down and it is making them stop talking about golds and fiats and stupid talks because they are not having real knowledges about golds.  They are like Obama peoples because they are only going on hoping.  When the world is crashing nobody will be wanting to be paying all their monies for golds.  The peoples who are having all the monies now are having all the golds they are wanting now too and they will not be wanting to be paying a lot of monies for golds when they are having a crash.    The real stupids which we are having many of are thinking they will be liking a crashing because they have ignorance about what crashing really would be having to be happening to them.  Golds are only valuables when things are not crashing.

Tue, 10/08/2013 - 05:44 | 4033208 Acet
Acet's picture

I really hope you're achieving this effect by using Google to translate from English to some other language and then back, 'cause writing it directly would be pretty hard.

Tue, 10/08/2013 - 00:52 | 4033071 NickVegas
NickVegas's picture

This comment caused caused me to unthink, and I blew a snot bubble laughing. There is a level of dramatic tension, a natural rhythm to the author's prose, resulting in a total re-evaluation of life's meaning.

Mon, 10/07/2013 - 22:45 | 4032881 Blano
Blano's picture

Boris is a great Boris.  You are a shitty Boris.  Go away already.

Mon, 10/07/2013 - 22:50 | 4032896 Jethro
Jethro's picture

You went full retard....

Mon, 10/07/2013 - 23:53 | 4033011 Steverino
Steverino's picture

Tue, 10/08/2013 - 00:26 | 4033054 Seasmoke
Seasmoke's picture

Stupid talking indeed. LOL

Mon, 10/07/2013 - 21:05 | 4032669 disabledvet
disabledvet's picture

One of the masters...crushed in the 90's tulip mania called tech. The dollar has yet to suddenly move higher as it did then...but everything looks like a go. It should be recalled that a lot of big corporate names looked like goners then (AT&T comes to mind.) having said that in the world of bailout nation and moral hazard...this is what you get. I find it odd that this would be a policy goal...but clearly Wall Street knows what it wants here. I do not think it surprising that we never had these problems right after World War II. And when money is this big (again) there is no "regulation." I believe as well we do have the makings of bubble formation...and as was said after 9/11 "you're either with us...or against us." I did consider the "moon shot hypothesis" at the beginning of this year (I know of no other who did actually) and I reacted by thinking about the Fed's reaction. I think that was a good "double move" actually. In other words I got the bubble call and the Fed call right. But by definition these things always have a life of their own. In other words I would not be surprised if Tesla shot straight to 300 hundred here. "It's just one of those things."

Mon, 10/07/2013 - 22:53 | 4032900 Jani
Jani's picture

You and geruda would make a cute couple

Mon, 10/07/2013 - 21:13 | 4032680 AbelCatalyst
AbelCatalyst's picture

CNBC posted this interview on their app and cut out the entire second part... Perfect example of the MSM bias... There really is no more actual reporting - everything is just spin and hype... Not news to those here, but it is a very clear example... Ugh!!

Mon, 10/07/2013 - 21:30 | 4032714 DOGGONE
DOGGONE's picture

The Public Be Suckered

Mon, 10/07/2013 - 21:31 | 4032720 hairball48
hairball48's picture

Being a complete asshole as a person and being a brilliant innovator/businessman are not mutually exclusive.

Tue, 10/08/2013 - 00:08 | 4033030 css1971
css1971's picture

Pretty much required personality traits.

Mon, 10/07/2013 - 21:34 | 4032725 JR
JR's picture

Here was a good man - Henry Ford -  who announced he would “innovate the greatest revolution in the matter of rewards for his workers ever known to the industrial world.”

And then he delivered, doubling his workers’ pay from an average wage of $2.34 to $5.00 per day and at the same time reduced the 9-hour shift to 8 hours.

He was employing what he called Biblical and spiritual principles and the Wall Street Journal said the wage hike was “misapplication” of those principles “in a field where they do not belong.”

Ford’s pay hike came during a recession. And it only made his business continue to grow and grow. And as the business grew, unlike the “whatever-the-market-will-bear” business managers of today, he priced his product to create explosive demand.

The Model T which could be bought for $850 in 1908 went for $360 eight years later. Said Ford, “Every time I lower the price a dollar, we gain a thousand new buyers."

Today’s problem lies with the international globalists who have no loyalty to the American working man or to America; their interest is only profits made from slave wages. As the Ford website says: “In 1914, Henry Ford started an industrial revolution by more than doubling wages to $5 a day—a move that helped build the U.S. middle class and the modern economy.” Thus, Ford created a consumer base that could afford his cars.

In the final analysis, America’s problem is not manufacturing, it is the destructive influence on our free market economy by the international banking cartel. This emphasis on American labor as an expendable resource if more and more cheap labor can be found elsewhere only advances their cause to promote world Socialism and its imperialistic slave system – with all the benefits going to the financial elites.

Steve Jobs had no Henry Ford loyalty to America or to the American worker.

When Apple’s profits reached $400,000 a year per employee, the man who founded, maintained and literally invented Apple Inc. - Steve Jobs - said the jobs for building most of those profits weren’t coming back to America.

Why? Notwithstanding the endless pro-Apple explanations coming from Silicon Valley, a highly supportive military and financial industry, loads of friendly Congressmen and tax havens, even the good offices of the NY Times, the true reason was not very complimentary to the company that this past April lost its throne as the world’s largest company. Simply put: the customs, ethics, regulations, costs, and environment and living standards in America just don’t fit the massive demands for low wage labor, interrelated factories, transportation and other logistics that Apple demands and that the Peoples Republic of China provides, gratis.

Mon, 10/07/2013 - 22:43 | 4032873 rosiescenario
rosiescenario's picture

Along these lines, while busy dodging taxes these SV high tech companies lobby congress to ease immigration rules using the premise that there are not the right skill sets available otherwise. So, while dodging taxes and not supporting the educational system, they lower everyone's living standard through lax immigration rules.


I'd be far more worried about the damage these industrial "leaders" are doing to the U.S. than any threat posed by some terrorist group.


PS....from what I know Jobs believed the end always justifies the means, especially an 'end' he selected...probably a narcissistic psycopath.

Mon, 10/07/2013 - 23:23 | 4032963 JR
JR's picture

I've long shared your concerns.

And, now, "JERRY BROWN SIGNS BILL MAKING CA SANCTUARY STATE FOR MOST ILLEGALS" – all being provided with free or subsidized “Obamacare” and EBT cards through a massive wealth transfer  – until all implodes here in America, of course.

Writes Tony Lee on BREITBART:

On Saturday, California Governor Jerry Brown (D) signed a bill that will ban state authorities from transferring illegal immigrants they arrest to federal law enforcement for potential deportation if those illegal immigrants have not committed "serious crimes."  

Brown signed the "Trust Act" into law after he had vetoed similar legislation last year. Democrats like House Speaker Nancy Pelosi (D-CA) and former Homeland Security Secretary and current University of California President Janet Napolitano expressed their support for the bill to Brown.

“While Washington waffles on immigration, California’s forging ahead,” Brown said. “I’m not waiting.”

According the Los Angeles Times, immigration activists cheered Brown—who also signed legislation that will allow illegal immigrants to get driver's licenses—at rallies in California on Saturday after he signed the bill.

Tue, 10/08/2013 - 00:09 | 4033029 squexx
squexx's picture

Notice how it's ALL Jews that are for Obamacare, illegal immigrations, taking guns away, etc....

Mon, 10/07/2013 - 23:08 | 4032932 MyBrothersKeeper
MyBrothersKeeper's picture

You are kidding, right?

Henry Ford was a bigoted anti-semite who so loved America that he contributed mightily to Hitler's war machine that ended up killing tens of thousands of people....even as the US was disallowing such activity.  He consulted with Hitler and helped him build a number of things used in the Nazi war effort.  He also invested some of his own money and made money from Germany's war success. Ford is certainly an innovator that changed the world.....but not someone I would hold in high regard as a patriot by any stretch of the imagination.  Just Google Henry Ford ties to Nazi Germany.

It's easy to double wages when you have a monopoly

Mon, 10/07/2013 - 23:57 | 4033014 JR
JR's picture

If Henry Ford were alive today, he would be the first one to tell you that you can’t find historical truth from Google. Because of his opposition to Wall Street and the urbanization of America, he was a target of the bankers. But he did not flinch from telling the world what he thought.

He said that the European conflict, in his opinion, was caused by a conspiracy of “international Jews,” together with the absentee owners of Wall Street. He hated Wall Street and he hated the trend toward urbanization of America. The Wall Street bankers made him a target; calling him a fool and a bigot. And like the biased doctored information you read on Google, the reporting about Henry Ford in his day was manipulated as well.

With all of his achievements as perhaps the greatest industrialist of his age, Ford’s name still was not even listed in Who’s Who in America by 1914, years after the major advances in his assembly line technology.

Henry Ford was first and always a mechanic; rolling up his sleeves to work with gears and engine parts. Yet it was Henry Ford who could see that inflation and fiat money were very seductive and beneficial to those at the top and very dangerous to everyone else and the nation as a whole. Ford knew that every country that relies too much on fiat money is ruined - sooner rather than later.

The bottom line with Wall Street’s hatred of him was his refusal to rake in maximum profits from his business and his interest in benefiting his workers in every  way he could.

If support for Hitler makes one anti-Semitic, then honest history will have to classify those many Jews such as Bernard Baruch who helped finance Hitler as the anti-Semites.

"Hitler will have no war (does not want war), but we will force it on him, not this year, but soon." - Emil Ludwig Cohn in Les Annales, June, 1934

"We Jews are going to bring a war on Germany." - David A. Brown, National Chairman, United Jewish Campaign, 1934

"There is only one power which really counts. The power of political pressure. We Jews are the most powerful people on earth, because we have this power, and we know how to apply it." - Vladimir Jabotinsky, Jewish Daily Bulletin, July 27, 1935.

And much much much more:

Tue, 10/08/2013 - 05:43 | 4033206 Disenchanted
Disenchanted's picture

Hear! Hear!

Tue, 10/08/2013 - 10:01 | 4033586 MyBrothersKeeper
MyBrothersKeeper's picture

I agree people should not overlook Ford's contribution in industrialization of America.  He was a brilliant icon...but certainly no patriot.  Google is but a search engine, are you saying it is manipulated and links to intentionally false info?  My 2nd biggest gripe with Ford is they tried for years and years to downplay and deny their ties to Nazi Germany at an attempt of revisionist history.  But the moer the facts came out the worse it got.  Even close to his death he denied having been involved in the book "The International Jew". I don't know, maybe he just couldn't live with the truth after he found out what really happened...Hitler bamboozled a lot of people.

Here is a Wash post story from a few decades ago (there are many others):

So it wasn't just Jews he helped kill but an entire mass of humanity including many Americans.  His wage innovations etc didn't come until after he was one of the richest people on the planet

Tue, 10/08/2013 - 11:05 | 4033839 Diogenes
Diogenes's picture

In 1915 Ford said that he would give his entire fortune to end the war in Europe and backed it up by spending $450,000  on his Peace Ship effort to negotiate an end to WW1.

He also refused to build weapons but did supply thousands of ambulances to the Allies.

What he learned during this period led him to blame the International Jewish Bankers for starting the war. He repudiated these views in 1927, issued a public apology, shut down the Dearborn Independent and burned a large and costly library of anti Semitic books.

Years later the Nazis made him a hero for ideas he had denounced years before. I have never seen any evidence that he treated Germany with more than ordinary politeness - before WW2. During WW2 Ford was a leading producer of Jeeps, airplanes, tanks and other weapons.

Ford was over 80 years old when American entered WW2.

Tue, 10/08/2013 - 11:40 | 4033942 MyBrothersKeeper
MyBrothersKeeper's picture

Read the linked article I posted above

Tue, 10/08/2013 - 16:58 | 4035531 Disenchanted
Disenchanted's picture




In 1940 I interviewed Mr. Ford on numerous occasions. In fact, on the day before his first automobile was put under glass, he and Mrs. Ford invited Mrs. Smith and myself to be their guests at Dearborn. On this occasion he told me the whole story of his first car and how he happened to make it. Among the precious souvenirs which have come to Mrs. Smith and myself is a New Testament autographed by Mr. Ford, and handwritten letters from Mrs. Ford commenting favorably on some of my speeches and expressing in her own handwriting Mr. Ford's appreciation for my activities.

It was on the occasion of one of these personal visits with Mr. Ford that he gave me a sensational and shocking report. He said: "Mr. Smith, my apology for publishing 'The International Jew' was given great publicity, but I did not sign that apology. It was signed by Harry Bennett."


For the information of the reader Harry Bennett was a very officious and aggressive employee of the Ford Motor Company. He presumed his way into the confidence of Mr. Ford and later became known as an enigmatic and obnoxious personality. Space will not permit a thorough discussion of the activities of Harry Bennett. Mr. Ford's personal secretary for 34 years, Mr. Ernest Liebold, told me that one of the worst things that ever happened to the Ford Motor Company was the employment of Harry Bennett. For a certain period of time Bennett exerted virtually a dictatorial control over the affairs of the Company. His alleged deeds, if summarized might make rather a scandalous book.



When Mr. Ford told me that he had not signed the apology, it seemed almost unbelievable. In fact, I could scarcely believe my own ears. Furthermore, on the occasion of this same visit, Mr. Ford said: "Mr. Smith, I hope to republish 'The International Jew' again some time." He showed no signs of regret for having published it in the beginning. ~ Gerald L. K. Smith

Tue, 10/08/2013 - 00:08 | 4033026 squexx
squexx's picture

He was right to hate Jews! Jews are NO ONE'S ally. They spy on the USA, steal and sell technology, interrupt the process of government, control the media, etc... There's a reason they are called the Satanic Tribe!

Tue, 10/08/2013 - 09:48 | 4033548 MyBrothersKeeper
MyBrothersKeeper's picture

You are an idiot.  I am one that agrees with US support of Israel.  I do not subscribe to blind support, however.  Jewish people are human like any other and are fallabile and make mistakes...and should be called on those things like anyone else, but your statement is absurd.

Tue, 10/08/2013 - 08:23 | 4033333 falak pema
falak pema's picture

his point is he didn't inherit a monopoly like a king; he made it thru innovation and profit sharing.

As for his mindset as Oligarch it came afterwards. Power corrupts; but the fascinating part of the thread is not about oligarchy hubris its about making your first million and contributing to the welfare of a nation state of which he was an integral part.

That he became a bad apple in some ways is the sad part but its not what he commented on, it about climbing the ladder and then allowing others to do so; that was what America was about. 

America became different because having won world dominance it corrupted bigtime; but that is human nature and only proves that all good beginnings have bad endings as history repeats, especially if you become top dog and think : God has now given me a blank check! 

Tue, 10/08/2013 - 09:48 | 4033541 MyBrothersKeeper
MyBrothersKeeper's picture

I think what you say is a fair statement....well put

Mon, 10/07/2013 - 21:48 | 4032752 yogibear
yogibear's picture

Yelllen is like scraping the bottom of the barrel. Guess when everyone knows everything is F'd up and opts out  who else is left, Old Yellen. That's ok, she''ll F it up worse.

Mon, 10/07/2013 - 21:45 | 4032753 Cabreado
Cabreado's picture


Mon, 10/07/2013 - 22:15 | 4032815 Notarocketscientist
Notarocketscientist's picture

Money Honey - saggy overripe tomato for a face - I bet her muff is the size of a catcher's mitt and looks like George Clooney's 5 oclock shadow when she shaves it (if she shaves it)

Tue, 10/08/2013 - 00:58 | 4033079 Balanced Integer
Balanced Integer's picture

Damn, you started off good. Now I just can't bring myself to upvote that.

Mon, 10/07/2013 - 22:46 | 4032880 rosiescenario
rosiescenario's picture

Yellen will fill the role well of being Nero's luthier.....

Mon, 10/07/2013 - 23:13 | 4032933 ebworthen
ebworthen's picture

Dunno, Steve Jobs was successful at what he did, how was he "terrible"?

I don't see him as "terrible" as people like Bernanke or the political lackeys on both sides who feed off of our blood and don't produce a God-damned thing other than debt and oppression against responsible savers.

He's right about the bubble, and Maria may have a sleepless night or two over his predictions; albeit with hard nipples dreaming of Jamie Dimon on a white horse.

Mon, 10/07/2013 - 23:39 | 4032980 Cabreado
Cabreado's picture

If we could have understood that the only sustainable "Capitalism" requires a social conscience (which by definition gives corruption a very hard time), we would have been ok.

There is no getting around the simple fact that persons with influence and control must give a damn about the host.

Mon, 10/07/2013 - 23:19 | 4032951 dragoneyes74
dragoneyes74's picture

Silver is looking very good.  It popped thru the downtrend line from the $25.29 highs and the 50/20-day convergence today.  It also formed a mini inverse head and shoulders over the last month, and a much larger one from the April low.  As long as it holds the 50-day it's looking poised to make a strong move up.  First stop would be the 200-day in the mid $24s, then $26, then $30, IF it remains strong.  A loss of the 50-day would put this in doubt.  But this is about as good a technical setup as it gets.  A couple days closing above that 50-day would be nice.  I started small and will add as it confirms the strength. 

Tue, 10/08/2013 - 00:12 | 4033034 The Grifter
The Grifter's picture

strong move up in silver coming?  i am in!

uh no... give it a day or two and when they do solve the gov shutdown my guess is stocks soar and silver gets jammed down close to 20 again





Tue, 10/08/2013 - 07:52 | 4033275 spinone
spinone's picture

Just keep buying whenever it goes to 20 or below.

Mon, 10/07/2013 - 23:22 | 4032952 Larry Dallas
Larry Dallas's picture

Can you image how many miles of cock Maria had to suck to get her job at CNBC?



Tue, 10/08/2013 - 05:49 | 4033207 Disenchanted
Disenchanted's picture

Well at least it was kosher kock...

Wonder how many tag team matches she's played with the brothers?

Mon, 10/07/2013 - 23:22 | 4032953 I am a Man I am...
I am a Man I am Forty's picture

another one who doesn't know when to retire

Mon, 10/07/2013 - 23:25 | 4032965 throwthebumsout
throwthebumsout's picture

My daughter works at Apple and the culter their is fantastic.  They take care of their people in every way possible.  She is paid well and gets lots of restricted stock.  When her immediate superior was promoted and moved to another part of the company she turned down being his replacement.  The reaction was she was told to go recruit her next boss, which she did.  For doing this, she received a 1,000 shares of stock as a bonus.  I am sure not everyone loves the place, but that is any big organization.  They do try and succeed to have ther right culture.

Tue, 10/08/2013 - 03:53 | 4033182 dognamedabu
dognamedabu's picture

She got $500k for picking her boss? 

Tue, 10/08/2013 - 08:11 | 4033304 falak pema
falak pema's picture

do not confuse picking and pricking; the second has a sting the first lacks; not to say double meaning that makes my tongue wet my parched lips. A prick a day keeps the doctor away but could call the stork more often unless you use a brolly to protect your lolly.

Hello Dolly, is that Apple a day..? 

Tue, 10/08/2013 - 00:00 | 4033006 Sam Spade
Sam Spade's picture

For a libertarian site like ZH, I’ve never understood the mindless Apple hate here.  Jobs was a fan of Ayn Rand, he generally ignored Washington, never asked for a fucking bail-out, and never made excuses for his company, even after the tech bubble burst (“Wdecided to innovate our way through this downturn…”).  His products, often ridiculed when released, ended up being some of the most disruptive innovations of our time.  What the fuck did Julian Robertson or Warren Buffet or the rest of their ilk ever create?  The answer is nothing.  If Apple is not representative of some sort of capitalist ideal, then what the hell is? 



Tue, 10/08/2013 - 01:26 | 4033105 I am a Man I am...
I am a Man I am Forty's picture

some folks on here just hate success, there is so much that doesn't makes sense what senile robertson says i don't know where to begin

Tue, 10/08/2013 - 07:39 | 4033259 Amagnonx
Amagnonx's picture

Ya - I was a bit confused as to Robertsons comment here re: Jobs.  I dont know much about him personally, but he certainly did seem a true capitalist.

Tue, 10/08/2013 - 00:02 | 4033018 dragoneyes74
dragoneyes74's picture

I'm also thinking the S&P buy zone is about 1580-1600.  There's horizontal support at 1590 and the weekly trendline from the Oct 2011 low thru the Nov 2012 low that crosses currently at 1565 will be a backstop.  If we get down there I'd be very surprised if that trendline didn't hold.  We would literally have to default and be in all-out market meltdown mode.  If I do any shorting it will be scalpy day trades only.  You have to remember that Obama is clearly not announcing Yellen on purpose.  He will use that card when he has to.  Also, once they raise the debt ceiling at the last minute, there's likely to be a sudden reversal, not to mention spikes on news that "they're having a meeting."  I will not get caught in that.  As long as we keep going into debt, and the Fed keeps printing money, this market will not load up on the short side in mass and no one will want to miss out on a year-end rally.  I also just noticed the 200-day is at 1600.  That zone from 1565-1600 is where the big money will be buying.  Hopefully, it gets there b/c it will be very obvious whether or not that area is going to hold based on the politics and price action going on at the time.  You have to look for a low that gets tested, holds, and fires upward.  Or the news driven reversal.  I actually think it's possible we make new highs again if DC can get it together.  But the end is near.  Depends on Dec FOMC.  No taper again could stretch it to spring, imo.


Tue, 10/08/2013 - 00:05 | 4033020 The Grifter
The Grifter's picture

never liked jobs much i think he ruined music

then again who is julian robertson?  never heard of him

Tue, 10/08/2013 - 01:13 | 4033098 luckylongshot
luckylongshot's picture

Some years ago when asked what was coming Robertson answered 'Anihilation`

Tue, 10/08/2013 - 05:20 | 4033200 Apostate2
Apostate2's picture

I agree. Apple had crappy batteries and crappy service. That's the users down low. Can't argue with the bubble economy viewpoint And those for Yellen are begging for a collossal collapse. Easy come easy go for the elitists who don't get their shoes dirty or so they think. However this complete fuck-up is made to order.

(I think I sound a bit anti-establishment. Oh, well never mind)   

Tue, 10/08/2013 - 05:22 | 4033203 LaurentDeLyon
LaurentDeLyon's picture

cool and wise guy Julian

Tue, 10/08/2013 - 05:29 | 4033205 Gumbum
Gumbum's picture

The part about the market and the FED has been removed from the interview? pfff...

Tue, 10/08/2013 - 06:26 | 4033216 virgilcaine
virgilcaine's picture

I think Julian is talking alot of nonsense. Jobs was a genius and an an created  empire while u shuffle money around money shuffler. Most Titans of industry have a few flaws, RETIRE again AND GO Away! My only gripe with Jobs is they are a Chinese based Co. The epitome of Chimerica... Made in China for the US sheeple consumers.

Tue, 10/08/2013 - 06:48 | 4033228 22winmag
22winmag's picture

Maria B. is such a sad joke... she makes female football analysts and announcers look like geniuses that belong there.

Tue, 10/08/2013 - 07:23 | 4033243 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

The FED has become ubiquitous. It' everywhere, in everything. And now it's almost impossible to extract easy money policies.

JULIAN ROBERTSON: Well, maybe we wouldn't have-- shut down the government if we tapered. I mean, maybe people would've been so fearful of that that they wouldn't have gone this far.

Tue, 10/08/2013 - 07:36 | 4033255 Quinvarius
Quinvarius's picture

I think the bottom line is he sold because Jobs is not there anymore and in the end Apple is just another device maker.  I think this guy is able to put aside personal opinions from investing choices.  He was around for the tech bubble.  He knows that once the hype is gone, you are just left with another handset maker.  Apple is about marketing.  They didn't invent the cellphone or tablet.  They just marketed their products better.  And MSFT has been making it easy on them with dickwad Balmer running the show.

Tue, 10/08/2013 - 07:57 | 4033278 Towgunner
Towgunner's picture

jobs was a punk, frankly, I could do without watching tv on my f'in phone, so, whoopitie-do. That said I can't imagine that maria is any better as a person. If cnbc would just leave out thier stupid-ass anchors and let the adults talk I'd start watching it again. 

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