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Thursday Trivia: Why Are Wall Street Economists Paid Millions Of Dollars?
The answer: to be horrible weathermen.
In retrospect, it is hardly surprising that two years ago in a head to head between Joe LaVorgna and the world's most famous weatherman, Groundhog Phil, the Deutsche Bank cheerleader was solidly trounced.
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This guy is either very stupid or has no conscience left...
But me thinks - it's both...
Either way, ZH revealed him for what he is...the back end of a donkey.
They are paid to dupe people into believing what is real. I.e Paul Krugman.
the weather?
If Joe LaVagina were a WWE wrestler he would be called "The Weatherman". Bringing loud noise and bright lights where ever he goes!
Joe Lavagina walks into an almost empty stadium. Only Paul Krugman sits in a chair, eating a large buttered popcorn in a dimly lit arena.
"I am LaVagina and I bring with me the science of economics! Due to weather problems the economy has fallen short of expectations!"
"Yippie!" Cheered Paul Krugman.
"But we do have forward guidence - based on stock market prices and manipulated employment records - up for the next 20 quarters!"
"Well said!" Screamed Krugman.
Then, in a flash, LaVagina ran off of the stage, only to be see next quarter when he would spout the same bullshit.
obviously, he's over tipping his barber...
LaVorgna is on zerohedge... his handle is FONESTAR..
Just BTFBW.
He looks like Mr. Potato Head not much the barber can do
Hmm Groundhog barbering...
That's a dis to the fine charisma of people like Superstar Billy Graham:
https://www.youtube.com/watch?v=uth3Its6tUA
I'd invest whatever the hell he said I should buy. Actually I hocked my TV after hearing this...
A 51% win/lose ratio??
Wow, imagine the possibilities you could reap with such an advantage.
aren't millions minimum wage on wall street?
Why not make up the low spread on a high volume of predictions? ;)
I remember when Alan Greenspan came out to the media not too long ago and said the economy was "Broken" Suddenly Krugman swooped in and attacked him in a separate article saying Greenspan was the "Worst" FED chairman ever...
This happened late last year.
Krugman tows the banker line, nothing more. His WHORENESS runs deep.
The perception deception.
just call him what he is: DEEP THROAT
That works on so many levels....
This guy LaVorgna looks like he is wearing a beaver on top of his head. Maybe he should have done a deal with Punxsutawney Phil and just let Phil sit on his head and whisper in his ear.
The North end of a donkey heading South or is it the road apples he left behind.
All economists at these tbtf institutions are sell outs. they will write whwt their pay masters tell them to
Young Joseph is a douchebag
Bingo Groundhog Day. They are paid propagandists. TPTB tell them their plans. The Economists are paid to reword it in a form that pretends to be good for the public. "Ve haf scientific proof zat you vil be richer if only you are poorer!" ( And apologies to all people out there who speak English with a thick German accent ;) )
...
"We let you borrow more money. Now it is "more affordable".
If Marie Antoinette were alive today, she would not allegedly have said, "Let them eat cake". The media would proudly be proclaiming she said, "Let them eat crumbs." Proof? "Trickle-Down Effect". I never understood how they got away with that one. It sounded loud and clear to me, so in case there is anyone out there that still doesn't get it, forgive me while I say it again :
"TRICKLE DOWN EFFECT" = "LET THEM EAT CRUMBS".
Why did the media never pick up on that??? Someone should have said it yeeeeeeeeeeears ago.
The real economists are unemployed. The employed economists are propagandists.
Someone needs to seriously spam his twitbutt account.
@ Obchelli,
Na, he's just a Douche Bag!
There is no "either...or", it is all "no conscience left".
Economists are horrible on purpose so that you need JP Morgan and the FED for guidance.
Their job is to be the fake guy who wins in three card Monte while the mark is watching.
Hey, he offers this unique insight for FREE.
In the land of the blind (this guy) the one eyed man is king. Keep both eyes peeled.
I thought Wall Street controlled the weather? Doesn't Blythe Masters have the remote control to move a commodity markets with a push of a button?
LaVorngna looks like a semi-grown white Urkel.
Look at the head on that potato.
Mom needed a few extra stitches after pushing out that alien.
haha. Love it. Kinda like Geitner and Beavis.
I bet he liked to burn FRN's and chant Fire, Fire, Fire!
While using it as TP.
For his bunghole.
The new Al bRoker...weather reports and bad investment advice, all in one!
You guys missed this one:
Joseph A. LaVorgna @Lavorgnanomics Feb 19
Jan housing starts fell -16% (880k) while permits were down a lesser -5% (937k). Harsh wintry winter was clearly a factor dampening activity.
Harsh wintry winter? WOW
He sounds stoned to me.
The groundhog is cuter and has more personality as well.
They both bite.
If he loses his job as an economist, he could always get a job as a drive-in movie screen...his forehead is more like a fiveandahalfhead.
Silly me ... and I thought it was to give cover to theft and fraud under the guise of superior and reputable education.
LaVorgna goes to the gun range. His first shot is 5 feet left of the target. Second shot is 5 feet to the right. He yells "BULLSEYE!"
....and he sticks out his hand and says, "Pay me."
#askLaVagina
Why for did ONLINE retail sales fall 0.6% in January.
weather froze the bits running through the internet.
^ #AskMt.Gox ^
Naw, the token ring fell out of the ethernet cable, see if it's under yer desk...
Can't leave out the source:
http://dilbert.com/strips/comic/1996-05-02
Yeah. Everyone knows that cold makes the electrons travel slower!
Same reason those Psychic Friends sluts became billionaires...
Isn't it time for another 'is economics science' essay, btw?
In favor or opposition?
Because Dr Paul Krugman doesn't write here anymore.
Might as well give them pom-poms and a uniform with "Central Bank Cheer Squad" printed on it.
Goooooo Janet, print more money. CNTR-P, CNTR-P, CNTL-P.
Of course the team mascot would be a bull.
Sounds like something right up William B's alley
Krugman in a cheerleeding outfit might be a bit much for the ZH crowd.
my guess is that ya'll are enjoying the sideways trading of the only 2 forms of real money after last evenings ridiculous smash to the downside.....
meanwhile, why the fuck is the Dow up????
fucking bullshit everywhere....
carry on.....
Weather forecasters and economic forecasters have great jobs. When they are wrong it's because of something unexpected. When they are right they are brilliant forecasters.
Simple, hyperinflation in the cost of propaganda. nothing more nothing less...
Ivory Towers and whatnot....
Economics uses such fallacious theories as the "rational consumer theory" - which states all consumers act rationally - that " an increase in technology is an increase in output", and other such flim flam arguments.
Economics will go down in the history books as starting similar to western medicine, where first leaches then pharmaceuticals were sold as cures, but only to find the real solution lies somewhere else.
More like WitchDoctors!
Excellant analysis. What a moran! My 12 year old could write better prose.
To paraphrase:
It is better to be a conventional failure than an unconventional success.
Guess who said that?
Keynes. And yes, his "theorems" are conventionally failing us now.
Whats up with the world of finance and banking, is it intentional you have to look like a reject from a bad B-list movie?
Look at that fuckers forehead, he doesnt just have dreams and nightmares, he has full on wide screen visions.
Fucking daft looking tosser.
;-)
."Look at that fuckers forehead, [..] he has full on wide screen visions."
And, it's curved!
You forgot to include the word ' cunt' at least once in your post, are you feeling ok today?
Lets give ole fivehead a break, if youre correct too much people come to expect success from you.
Wacky weatherman wannabe. (Honk honk)
So does this mean investments in HAARP are open?
I have an APP that will do that. It's called Donkey Bong
The internut is brutal
Blah, blah, blah climate change
It's LaVorgna who more than strange
He cobbles together
Shit about weather
A charlatan for the exchange
Economists-the priesthood of the 1%....
Economists will tell you tomorrow why the predictions they made yesterday didn't materialize today
Why? Because people cannot make decisions on their own, and would rather have someone tell them what to do, even if they are wrong.
Weather or not this bothers you is you're problem !!!
I made a poop that looks like his head.
I made a poop that looks like his head.
They are paid millions, because economics -like politics, religion, spatter-art, and romance - requires the creation of bullshit for the dumbasses and economists create economic bullshit.
All of life is about manipulating dumbasses with bullshit. Those who add value with bullshit WILL be highly paid.
There was a once touted datum about the internet that roughly stated that:
I wish I could remember the source for that (sigh) - but it strikes me that a higher than average proportion of this BS is perpetrated on Twatter and Goggle - espescially the latter, with ist perverted, subverted search algo.
If I sound unduly crabby - I blame it on the crappy weather too. Seems fashionable.
"The problem with internet quotes is that you can't always depend on their accuracy." (Abraham Lincoln, 1864)
I wonder how many people realize you can actually trade OTC derivatives and futures based on weather indices:
http://www.cmegroup.com/trading/weather/
These products can potentially be used as a hedge against adverse or abnormal weather. I suspect one of the reasons guys like Joe keep bringing up weather as an economic threat is to drive people to trade these products more.
These products have never become very popular among true hedgers engaged in agriculture, energy distribution, insurance underwriting, etc. One reason is that they tend to have very high basis risk.
They’ve never become very popular among Wall Street firms either. I suspect the reasons for that are:
A: Unlike other financial indices, even extreme weather indices have natural boundaries (a forex rate can go to zero, and interest rates can go to 150%, but, there will never be a day in Miami where the high temperature reaches 150 degrees F.
B: Unlike other financial indices, weather indices are determined by Mother Nature, and can’t be manipulated by TBTF firms to their advantage.
It works for insiders; the ones who know the cloud seeding and haarp schedule and are briefed on the computer model conclusion. The power companies pay into the system, subscribers you might say. It helps to know when there will be a polar vortex.
They are paid millions because that is the going rate for being a sock-puppet-spokes-hole. Good gig if you can get it. Just ask the president.
Duplicate.
I just took a giant 'Joe La Vorgna' and feel much better now.
That shill was on the blow horn yesterday calling for 3.1% GDP growth still this year.
We had Stopler as our best advisor up until a couple of weeks ago. He was about the best as long as you took positions opposite of his advice.
Soft lips? Warm hands? Enthusiastic ankle grabber?
weather:
http://www.youtube.com/watch?v=uH9jGI1mzSI
joseph lavorgna, what a mother fucking douchebag.
wow, this fucker deserves to be shot to death.
fuck this bastard.
blame the weather weather weather weather for everything
Money for nothing, checks for free. Create money from thin air and buy stuff with it. The Fed.
Whethersoever, neither nor
Future guessing Wall Street whore
Useless pundit, nothing more
Banking millions, we deplore
Shilling to the thoughtless dupe
Proffered by his sales troop
Veiled as an inside scoop
Nothing more than useless poop
Economists and weathermen
Deceive us over and again
Twice correct when guesseth ten
Sticketh Muppets up rear-end
Your learned words from which we run
Prove once again the Wall Street pun
More wealth is stolen, when a day’s works done
With your recommendations than with a gun!
Duh -It's all just as simple as:
Ukraine: Weather.
Greece: Weather
Argentina: Weather
Venzuela: Weather
Brazil: Weather (Whoops - this one actually IS weather/drought related)
China/Japan posturing: Weather
False US Left-Right paradigm, and bogus political gamesmanship covering for the real financial ruling class actively driving the US into the toilet..? Weather, Bitchez.
My dog ate my weather.
lol
When stocks suck it's because of bad weather.
When stocks soar it's because of a true, sustainable economic recovery.
Create 100 variations of each statement - preload in Twitter to track market's ups and downs - head to Bermuda.
Easy gig, if you have the requisite moral bankruptcy.
Someone should just put the guy to sleep finally. Waste of space, oxygen, internet traffic, money, toilet paper, water, etc etc
Someone should just put the guy to sleep finally. Waste of space, oxygen, internet traffic, money, toilet paper, water, etc etc
All this machinery making modern music
Can still be open hearted
Not so coldly charted
It's really just a question of your honesty, yeah
Your honesty
One likes to believe in the freedom of music
But glittering prizes and endless compromises
Shatter the illusion of integrity
[Chorus]
For the words of the prophets were written on the studio wall
Concert hall
And echoes with the sounds of salesmen... [/Spirit of the Radio]
Yeah salesmen!
Groundhogs Day is a cross quarter date. There are always 6 weeks of winter left.
It's good to be an economist. You just have to remember the rules.
Rule #1 Keynesian economics works.
Rule #2 Twist the facts to fit the Keynesian model.
Rule #3 If that doesn't work, then simply lie.
Congratulations, you are an economist, and a position is waiting for you at the Fed, GS or JPM.
Point the fingers at his employer.
Phil is now his employer...
.
You don't need a weatherman to know which way the wind blows.
Bob Dylan
1965
A: Cause they are Salesmen with serious-sounding credentials.
But then, having an 'MD' or PhD sound impressive also... till you find it's from some 3rd rate school.
#weather
Economics
hahahahahahahaah my goodness, to think that f*cking hustling hero of these buttercups is Keynes.
Win rate 51% - statistically flipping a coin is just as accurate, far easier - and infinitely cheaper.
It would be ironic justice if he died via lightening strike - after all the bad mouthing he has been giving the weather, its due some payback.