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This Man Will Never Be Invited Back On CNBC
And now for something completely unexpected: 2 minutes of pure truth (courtesy of Mizuho's Steve Ricchiuto) on CNBC...
148 seconds of awkward uncomfortable truthiness...
While Steve had a number of hard to hear quotes for the CNBC anchors - such as:
"There is no acceleration in underlying economic activity," and
"There's this wrong concept that I keep on hearing about in the financial press about the acceleration in economic growth... It's not happening!"
A stunned Simon Hobbs rebuffs, "That's a long list of non-ideal situations we find ourselves in," to which Ricchiuto snaps back "and we can keep on going!"
"After a string of dismal data on durable goods, retail spending, and inventories, we get a good jobs number and everyone saying the economy's good - it's not good!"
It was Sara Eisen that had the quote of the brief clip... (which has unbelievably been edited out since we posted it seems at around the 1:40 mark) when faced Steve's barrage of facts about the real economy, replied:
"but the key is that's not what The Fed is telling us."
Summing up the unbelievable 'faith' (misplaced beyond all reputational loss) that so many have in the central planners of the world.
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nailgun around the corner
This man should avoid Home Depot like the plauge.
This guy should avoid going Home at all. I "liked" him.
I see him dying from a cheese burger shake shake heart attack
Uhmmmmmmmmmm ...........
...the people "committing suicide" have all been "insiders" for the banks (and in some cases their inconveniently present spouses)
The suicides kicked off right around the time the Katsuyama et al had their "backers' briefing meeting" and some 0.0001% guys found out they were being played for fools.
Or haven't any of you noticed that fact?
Which big guys were played by the other big guys? Once the elite starts devouring itself (which you implied correctly), the collapse is not far off. The parasites have run out of bodies to suck from.
Mizuho is a bank holding company out of Japan. When they talk about "no growth" you can probably believe they know what they're talking about.
As a staunch liberal, I'd like to strongly bang Sara Eisen but that's probably racist.
CNBC BOSS : WHERE THE FUCK IS GRATMAN ????< put his daughter on the phone right now
This is Why Zero should be a daily read. One of their best. Zero said interest rates at 0 for a longgggggg timeeeeee.
Yahoo, in the end. This will cause inflation. Even if it takes 5 years or so. Unless we have WAR somewhere. Hmmm.
Fuck Simon Whatshisname
I have always liked you knuckles, but not with with mine. YOU are going to have to use your own.
I don't think this guy will be invited back to CNBC any time soon either:
02.10 19:55 ET BREAKING NEWS: Brian Williams of NBC News Suspended 6 Months without Payand that's the way it is...
at least they have upper-lip-less Lester Holt around to pass along the non-stories of the day during Brian's unpaid sabbatical
"It's not great." he says?
Doesn't he listen to MSM and POTUS ?
What?! It never been better ! It's awesome ! Robust ! Green shoots !
Buy more stawks!
Nobody 'listens' to MSM. They have either turned it off or they zonk out. If people listen to MSM they would realize that it is all propoganda! We all know that the Fed can't raise interest rates. Look at the housing market! It's terrible. What would it look like if interest rates were to rise? The economy has not and will not improve until it crashes completely and resets (hopefully with real free markets).
Until then, stop going in debt. Only buy what you can afford. Use cash as much as possible. Better yet, use silver where its possible. Friend helps you move, give him a silver eagle. Need a lift to the airport give them a few silver dimes. If your friends won't accept these as payments maybe these candles with silver coin prizes would be better appreciated: https://www.etsy.com/shop/ScentSavers?ref=hdr_shop_menu
No hot tubbing for this guy any time soon.
You can almost see the thoughts bouncing around the bimbos brain, "is this good or bad for the market? will the boss yell at me again for trying to ask a question? when will Simon shut up and go back to England? Remember just look hot and fuckable to the rich Wall St. guys, this gross, fat guy is soooo negative, when will I get to do my LuLuLemon profile? will someone from NBC please call today...."
Stop pimping your fucking candles here.
Stop pimping your fucking candles here
... but they're so ... so .. so "tubular"
Okay, so a reliable conformation of what most everybody here and else where have already accepted. A crisis is being engineered to make it look like the FED has to, again, ease the loss those poor poor overwhelmed wall street gangsters again. The indexes have been pretty much flat bouncing about inside a narrow band. So what do we do with that knowledge? Rick Santelli graphically illustrates the effects sideways equity indexes have on FED policy.
In recent days CNBC has been touting the social sites as movers. Can we eat social sites. And then we have this whole other universe of drifting scam clouts, the online a click ad sales chain and the back link to 404 dead site and page rankings with the promise that the higher one gets on the search index the close to god one becomes. Selling how to-s to those entering the daisy chain click tug cirle jerk. Ads who sell "ads". I'll buy that for a dollar.
Stronger dollar means more Filipinos can be hired to work the call centers for US corporations. Cheaper to build and fabricate somewhere far away. We be in the trenches hungary for sweet pampered fat cat meat ripe on de bone.
But I thought the winner in a currency way was the sovereign that had the bullocks to shed more value than any other player in the sovereign markets. The repeal of G/S made sovereigns a commodity and hedge funds an investment (they used to, more or less, financial insurance). Something is up - something spectacular that promises to take our minds off this stuff. Time to gopher for ads looking to hire crisis actors. We need a manifesto, something to convince the dandies to accept the benefits of an alternate path that offers the least pain.
I going to go water the facebook lettuce in my garden. A little olive oil, salt and pepper and it should be lip smacking good for a non sustaining produce.
In a time of universal deceit - telling the truth is a revolutionary act.
George Orwell 1903-1950
I watched the clip 3 times. I really like this guy.
reality is a bitch(sometimes)...
this summer it turns crappy.
then what? negative rates, ha...
nowhere else to go.
flight to ten year.
Brian shoulda been a cop. That 6 months would be paid, or he could have bailed on disability....tax free.
I'm amazed I didn't hear the thunk thunk of a nail gun seconds after he goes off screen..
He owned those talking mouth pieces so badly with clear concise truth they were speechless..
Slide Chelsea Clinton in for a few months.
I'm not "sliding" anything in "Chelsea Clinton" , you do it.
That's fucking sick (the thought of sliding anything into Chelsea Clinton). Even if she was standing in front of me, 'twerking' (like her Illuminati-trained sisters), I would probably have to 1): projectily vomit; and 2) go to the store and buy a case of Lysol to try to kill whatever parasites were still alive in the room she co-inhabited with me (from 10 feet away).
Brian Williams, however, probably wouldn't have any issues. Soetoro might (because he prefers 'OTW' sex), though. Myself: I prefer to breed within my own species. I mean, Tuna Casserole is fine when it's fresh, but after a month in the summer heat, without refrigeration, and knowing that the dogs have already been there,...
(I'm Bill Clinton. I disapprove of this message. HOW DARE YOU?)
i'd spank it with a cheese grater before i even entertained the thought of slipping it to CC
Free Brian Williams!
'His head could be seen moving violently forward...and to the right...'
(Dan Rather)
https://www.youtube.com/watch?v=kiSoxFHyjGY
FUCK Brian Williams! He ain't SHIT compared to THIS asshole!
They are truly a soulless lot.
Makes you wonder what they have that makes the Devil so interested...
"Free Brian Williams!"
With every $10 purchase...
the matrix consumed his mind-breakdown.
go home brian and navel glaze. defect out of the matrix
and write a book. tell us that zion masters programed the program
and was just another talking head, telling a story, a fairy tale
of hope and change...
elles sont toutes Brian Willams
That's why she is there.
What about Simon Hobbs? Before his sex change.....
The notion that "Aryan" females are inherently superior to non-white women is a key component of right-wing extremist ideology, and is actively promoted by White Supremacy / neo-Nazi groups. You seem to be a bit confused.
As a Norwegian man with blond hair and blue eyes, who lives amongst Nordic blond women yet has opted for the intensity and mystique of dark beauty in a woman when deciding on a life partner, I enjoy seeing far-right types suffer through a complete system shock when confronted with my family.
Eirik, so shallow he needs attention (that he alone perceives btw)..of his mixed race family being a shock to others of less nobility (his fine human nobility)..what a fucked up person you are.
You're confusing cause and effect. I married my wife because I loved her, not because she is black.
Also, a person who feels agitated when he sees racists being made fun of is not in a position to call other people "fucked up".
Eirik, I am glad you love someone other than yourself, but you sterotype your self..you think those who do not agree with what ever brand of marxist liberation theology you hold -are incapable of seeing people, not color and judge them on what they do, actions and support of big state fascism as an example ..you hate what you can not understand, eyes wide shut..us small .gov types could care less about who you marry, we care about freedom for all of us.
Apparently, this "freedom" does not include basic civility towards those who are not keeping the "race pure". No mention was made of government in my opening post - you were set off by the remark not all white males prefer white females.
On stereotypes: I remember us walking passed a band of three skinheads (a rare sight here, actually) some years ago. The friction in their eyes between wanting to remark something and instinctively not daring after I met the leader's gaze is a good memory. This board is rife with stereotypical misconceptions about Leftist Nordics as wiry, effeminate males, beholden to the "nanny" state and domesticated by ebil feminists.
My wife calls me Big Daddy Yum Yum. I'll leave it at this.
So you like wookies, to each his own. I dont think that superiority is a component of anything right wing. That concept was created by the national socialist party we call NAZIs. That's a leftist/social pardigm.
"Where 'er da white wimmen at?"
Exactly NoDebt!!!
However, you should also note how long the farce was maintained in Japan... In orders, the powers that be can keep this shit going for a lot longer than we can hold on to our worthy commodities (whether, it is gold, silver, farm land or lead!). This system must be acclerated to its downfall.
off with the zionists' heads, otherwise, we're all Gazans in one form or another.
walkure ... you really need to get out and peruse the internet more.
The current, (and best explanation in my opinion) of the banker minion hits is that it is the work of disgruntled MIC rejects. Note I don't use the term "rejects" in a derogatory manner, rather these are folks (with knowhow & means) that are fed up and won't put up with this BS any longer. Since the big wigs are too heavily guarded, they're going after the more accessible 3rd & 4th tier. Makes perfect sense (and for sure don't look for U.S. gov to publicly acknowledge these operations anytime soon, although, no doubt behind the scenes they're scurrying about like cockroaches).
Note too, it's JPM taking the lion share of hits, guess that means goldmam sucks will be the last standing (vampires (i.e. the tribe) are notoriously hard to kill) . Quelle surprise.
"get out and peruse the internet more"... which is it?
The 3rd and 4th tier has no influence on the banking system, so why knock the down? Warning shots across the bow maybe? MIC is starving for a good ole' fashioned war. Why else would they push hard and strong to deliver weapons into Ukraine. The script is old and the world is tired of it. Hopefully Europe will stand firm and not allow this. Better yet, make a deal with the Russians and slowly but surely dissolve this whole NATO nonsense.
JPM has triple the book value of GS. That's cause for some serious anxiety among bald headed shorties. How does it look over at Morgan Stanley?
Dude... grab coffee with a friend for personal time, for information ...get on the internet.
That's what I meant by "getting out"
The 3rd and 4th banker tier is evidently, what can be got at. You don't seriously think anybody can approach Jamie or Lloyd? Don't think MIC is one big happy family, there's still some with old fashioned virtues (or at least, really significant differences in opinion).... or so this theory goes. Again, it makes enough sense to be feasible and it's the best I've come across. You don't really think the banksters are covering their tracks by wacking their 3rd and 4th tier. Do you?
I realize you're in Europe, but are you so obtuse as not to realize that the government of the U.S. has long since been hijacked? Consider it like a few mafia families fighting over the spoils.
And Europe? LOL .... its "leaders" are as bought off as the ones in the U.S.
Finally, JPM might have triple the book value of GS, but they aren't the tribe, and (as politically incorrect as it may be to state it ... like I care), if there's one thing one must realize about the U.S, it's that the tribe sticks together (duh.... hence the nickname) and collectively they have the most money. I n the U.S., that means the most power.
Some take away for you chaps to chew on:
The OLD Mafia families moved into banking to become "legitimate" starting in the '70's (e.g. they shifted from owning a percentage of the banks to OWNING the banks)
Some of the folks who have "suicided" have been 2nd and 3rd tier with the more highly placed "suicides" occurring in Europe where having lots of heavily armed "associates" with you at all times is considered declasse. A few of the 3rd tier folks are likely the people who actually got their hands dirty doing things to people too wealthy to be casually fucked with.
The MIC, as conventionally thought of, is NOT where the movers and shakers are located. Those "poorer relations" can't generate ANYTHING like the "revenue flow" MERS created. The "problem solution" people are drawn from the SEALS, Delta and even more elite units that literally do not have names and do not exist on any record anywhere. Talent goes where the money is and THE MONEY is now measured in TRILLIONS. You can buy a lot of security for a billion dollars.
You ARE remembering that Goldman Sachs was one of the initial investors in IEX, correct?
if i wanted one of those asshole first tier fucks bad enough, he would be one shot from up to 1000 yds out. doubt their security could stop that.
Um, that would be "suicided" from 1,000 yards out.
Go to work, please.
1000 yards nail gun shot... wow... :-)
At 500 meters with a good scope and cheap silencer they won't event hear the cause of the end. If 100 well trained people could act together we could crash the system.
But... but... they only want to send DEFENSIVE weapons to Ukraine. You know: land mines: those little things that blow the legs off women and children working in the fields or taking a short cut home from school or just playing outside. "DEFENSIVE weapons, to Defend Liberty".
News headline there will be no colapse period end of story. The 1percents will never stop printing or digitizing moar and moar period. Stop waiting for it like I have now for 4 solid yars and we are no closer . Watch tomorrow with greece
Ha. That's what the BULLTARDS in Rome said MANY centuries ago.....
right, and they said it for centuries
Bossman1967
Wrong.
There will be a collapse when there isn’t enough oil; which will lead to all kind of shortages and the realization by the low IQ majority that their self-delusion of fancy cars and bigger TV are over.
However, you are right about monetization of “their living in a fantasy” lifestyle by the elites.
Because the people in charge of keeping the elite’s lifestyle know there isn’t any more growth, even when most elites are clueless, just like the low IQ’s.
Running out of oil is a different story but the devistation you speak of wont happen because there is already a substitute for oil that doesnt require changing anything over for the gas engine so maybe 20 years been hearing about oil shortage sice the 70 s and yet here we are. I still say no collapse ww3 take care of all this unless hey use the power of the mushroom then who cares rite?
What most people fail at is: You are using debt (to be paid back later) to generate energy to be consumed today.
By Futilitist: There is just no way to financialize energy at this level, meaning that, in physics terms, all debts are due the moment the energy is used. Civilization has never, ever existed under these conditions. It simply can’t. That is why collapse will be sudden and extremely rapid.
http://peakoilbarrel.com/opecs-production-outlook/comment-page-1/#comment-492392
Based on the myriad appearances of the term "fossil fuel" in the link you provided one could be led to believe that your understanding of petroleum science is literally prehistoric.
Here's a time machine to bring you into the 20th century (not sure if you're ready for the 21st) and make you familiar with "the second-most prevalent liquid on earth". A liquid inextricably tied to monetary currency value that by its very definition (or lack thereof) incestuously subverts a rational understanding of EROEI:
https://www.youtube.com/watch?v=2cUg3lDgJ20
@4:20 for fast-track
http://en.wikipedia.org/wiki/L._Fletcher_Prouty
Defie financialize
Sure!
http://ourfiniteworld.com/2015/02/11/the-problem-of-debt-as-we-reach-oil...
You can only rob the poor but for so long. . .
Not if you can make more people poor.
That is what evil does. As opposed to love, which contributes. Evil eats itself, that s why they will fail. They just don't know it yet.
My apologies for breaking the chain
Meanwhile in a nearby CNBC control room...
PUNCH UP THAT CLIP, I WANNA SEE WHAT THERE ALL PISSED ABOUT! OH JESUS CHRIST! GODDAMMIT SARAH!! THE FUCKING PHONE IS RINGING OFF THE HOOK!! HOW MANY TIMES HAVE I TOLD YOU TO KEEP THE FED OUT OF YOUR QUESTIONS!!??! NOW YOUR ON ZEROHEDGE AND THE FED IS FUMING!! FUCK!! HEY HOROWITZ, GET ON THAT CONTRAPTION OF YOURS AND CUT HER QUESTION OUT RIGHT FUCKING NOW!! NO DON´T DELETE THE INTERVIEW...AT LEAST FOR NOW....THOSE BASTARDS AT ZEROHEDGE WILL BE ALL OVER THAT IN NO TIME! AND WHO THE FUCK CALLED THAT ASSHOLE UP FOR AN INTERVIEW!!! HE´S WORSE THAN PETER FUCKING SCHIFF FOR CRYING OUT LOUD!
+100 LMAO
Logged in just to vote you up! Beautiful!!!
Wasn't that good.
But i guess thats how lib comedy got to where its at.
Anyway..off topic...can anybody friggin spell around here?... I read a post that I almost agree with..but the typos or whatev the 'F' is goin on, either totally misses the point..or shit, I dont even know what.
I used to come to ZH for the clever posts.. now I'm just here for articles.. wow.
Accurate use of language is imprtant, I would agree, but I try to be a little more relaxed about it.
Used to know a guy in UK who was illiterate until his wife tought him to read ane write at the age of 25.
Had a million business going. Nice guy too.
I can't agree more. Please start a blog of your own and spew your vast wisdom all over us.
He's a CNBC troll, so no need because their blog already exists with no one interested.
Is not correct spelling "frigging", HA HA Actually, I agree. :0)
Note the sentence structure, Glass houses, stones and all that.
Used to come for all of 49 weeks? Relax, champ, you'll live longer. Maybe when you've been here long enough you'll learn that the comments can be funnier than any article of the day. Now go sit down in the corner.
Wait, WHAT?
He 'used to come' for 49 weeks? How many times a day?
Let me guess...
The wife he married (named TPTWB), finally let him marry her at week 49, and then CUT HIS FUCKING BALLS OFF! Probably wearing a male chastity belt right now... awaiting his new husband, Brian Williams... I mean, 'Gorgeous' George Soros... and the whole crew at PMSNBC...
.
Fucken A, dude ...no what I mean? ... lolwut ... I red a psot can almst argree ... with..butt hole 'E' shit man ... whtev missess somehow the point..wtflol I shit dont no what?...
yep can realate.. mean somhow repeats a reality.. in this ... lolowow
Maybe cut the guy some slack.
Doctor probably has him on nodamene.
It's the drug of choice for inarticulation envy.
You got any? I need some of that shit.
I got mad at a Great Dane yesterday because his balls were bigger than mine.
...wut tipoes?
Nice, made me chuckle. Yhanks.
*dying here!* :cD YEAH!!!!!!!!!!!!!!
Tonight's CNBC post wrap-up... Less Grossman style.
https://www.youtube.com/watch?v=RLcNgawiCJM
Funny, fockewulf190. See you at camp.
Someone put this to the Hitler reel!
May be the greatest pos rep to neg rep post ratio in ZH history.
+208 to -1.
"dying from a cheese burger shake shake heart attack"
Dying of natural causes, choking (Cheesbugers being stuffed down his throat.).
Just like the nailgun guy commiting suicide.
The professional goons are good at what they do.
PUT THIS MAN IN CHARGE OF THE FEDERAL RESERVE - NOW..!
Dude just added himself to the 'list'
I'm waiting for a self decapitation with a chainsaw......
Tell us how you really feel chubbyboy
You're looking at the new face of the "Two Minute Hate"...get used to it.
Simon Hobbs and Sara Eisen ..... "believe " the Fed . . . . LOL
Don't drive a Mercedes.
He looks more like a hot tub heart attack candidate than a nailgun kind of guy.
I also sense a bit of depression.
Must be Christie's Brother. I thought it was him at first.
I have the identical tie from almost 20 years ago. Guy's golden
Anyone who disagrees with the banksters and the regime is one Ace Hardware visit away from a power tool accident.
Just sayin'....
ACE is the place, with the 'helpful hardware man'.
You got a problem wit' dat jingle? HUH?
Ace 'best buys' like their 'dual power staple gun' (as low as $8.44) might just have to be 'technologically upgraded'; so's as to appeal to munks like youse-all.
https://www.youtube.com/watch?v=KNo9lW6SIOI
CAPISH?
Or "We jumped some folks"
only the best for our banksters
http://www.topnailerreviews.com/bostitch-fn1664k-review/
you have to buy what you can afford, if you have money... if your thinking production, consider hitachi or porter cable...
I think the pin nailers would be a lot more fun.
Ridgid always made me hard, but they might be tough on him.
no need for dramatics. he'll simply be ignored.
What's funny is how stunned all those CNBC hosts look.
Nothing to see here, keep moving.
Meh, why wait?
Get one of those big ass nail guns and tell them to bring it on.
Or better yet, get this and give them a warm welcome.
https://www.youtube.com/watch?v=vjPk_K5q-Zw
This man deserves a medal.
...with a string attached?
Gotta admit.... I rather enjoyed listening to that.
Whodathunkit?
I'd actually enjoy something being televised on CNBC.
#shocked
He knows whats up
Fuck with him
He's a big boy.
He's a big guy, extra long nails!
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
Sweet
Saw this while running on the treadmill, was waiting to see if Tyler posted it.
The guy should be on the treadmill next to you... Too bad.
+1k so true yet so fucking funny
look up doug mcguff and high intensity interval training. running on a treadmill is not good for you. total propaganda. if you dont believe me think of it this way, from an evolutionary standpoint long duration, low intensity "cardio" never would have happened under any circumstances. how many animals do you see going for a jog? our bodies have evolved to have profound beneficial reactions to high intensity short duration all out bursts. jogging/cardio is a huge waste of time and it's counterproductive to health. look at a picture of a world class marathon runner vs. a sprinter. you can do all the exercise you need in a week in about 12 minutes.
Treadmill meet knee replacements.
Yes. You WALK up to your prey. You RUN away from your predator. Many herbivores can run fast, but just for a little while, because they can't sweat, and therefore they get too hot and have to stop. If you walk fast, after a while you can wear them down, catch up to them, and use your spear.
exactly. the two healthiest things you can do are walking and HIIT.
my son is a world class marathon runner, one of the top .00000001 percent in cardio vo2 on earth. try again
first, nice anecdotal reference. love that well grounded scientific argument. second, vo2 is an extremely subjective way to measure health. how about longevity? pro marathon runners frequently dont make it past their 60s. marathon runners have huge amounts of joint problems, arthritis, cardiac problems, and someone almost always dies in the middle of all the big marathons every year. keep drinking the cool aid bro. take it from an ex world class marathon runner who woke up:
www.marksdailyapple.com
really? whats yor pr? is it better than 2:14:01?
He'd do well then to train like the Kenyan's or the Italians. Lots of speed and interval training.
I don't necessarily disagree with you. Running on a treadmill is brutal, it's like being a hamster on the wheel. I rarely do it. Just didn't have time to run outside today.
I'm not a fan of the high intensity workouts, my brother does that shit, not for me.
I just run, yoga, and general strength training six days a week. I'm not an Olympic athlete, so it's good enough for me. I did recently cut weights out entirely from my workout, and I love it. You can leverage your body weight through yoga and push-ups/pull-ups/sit-ups etc. to maintain general "strength" without weights...and I don't even weight much at all.
5.0% annualized growth in GDP in Q3; 2.6% in Q4. Isn't 2.6 < 5.0?
no, 2.6> 5
Average growth over the year Q1 thru Q4: ~2.6
fake growth
and the bullshitters win - the discussion gets highjacked to 2.6%, or 30 bps higher than prior quarter, or are we approaching lift-off levels? Debt saturated economy where greater levels fof debt produce lesser increases in growth... aka, pushing on the proverbial string...
"Average growth over the year Q1 thru Q4: ~2.6 "
What dollar amount of debt issuance did it take to generate how what dollar amount of GDP?
What ratio of debt pyramiding did it take to get that 2.6% 'growth'?
IF those ratios are higher than 1.0 you've got a problem; and I am willing to bet they are waaaay over 1.0.
Even under the best of circumstances adding a few $1.T in debt to get a few $100B of growth is not gonna work for very long without a monetization blitz/QE or triggering a default cascade: the latter likely leading to the former.
New phantom 'debt' can only be emitted at zirp/nirp for so long and the financial repression impairs and destroys the stock of existing debt as servicing it becomes impossible as yields and incomes collapse.
How do YOU compete economically against someone that does not pay their bills or is printing up or being given counterfeits to do so?
-You CANNOT. Ultimately this creates wage deflation and the compounding repression of earnings either as wages or interest or business profits collapses leading to further defaults and impairments.
THIS is where we are NOW.
I personally now someone that has not paid their mortgage/property taxes/home owner's insurance since mid 2008. He is deeply underwater on a more than a million dollar mortgage.
The bank that holds his mortgage will not foreclose because they will immediately have to book over a million dollars loss. The bank just keeps paying the taxes so the municipality doesn't force a sale and the insurance so that the house doens't burn to the ground and leave them with nothing to sell but the lot when it finally comes time that they are forced to clean up their books...
He has just gotten to the age where he can take SS and get on medicare and is now getting checks in the mail every first of the month and subsidized medical services to boot!
I cannot possibly undercut the price he sells his service at because I still pay my mortgage and taxes and home owner's insurance so I have a roof over my head.
The clients we 'compete' for love his cheap prices. My prices would be cheaper than his if he had to pay to live somewhere, pay for his groceries and utilities, pay for his medical care, etc. I only get work when he is so busy that he can't take it and he is dragging the price into the cellar.
Prudent people are being forced to compete with deeply -even FULLY- subsidized neighboring competitors; and the employers are only too happy to cram the price down to levels that only deeply or FULLY subsidized labor can possibly accept.
I've gone through so much of my savings and sold so much of my gear that I am considering just selling the house for whatever I can get and emmigrating to another country befroe I am drien into insolvency by this prolonged monetary and fiscal madness.
Wait a sec! I'm seeing lots of growth where I live. A new donut place in the half empty strip mall. And how about that car wash place? Yes, another friggin car wash within two blocks!
So anyway, there's your growth.
Considering moving here:
http://yourescapetoecuador.com/retirement/why-should-you-retire-in-ecuador/
The same dynamic ocurred on a larger scale in Consulting in the last 10-15 years.
Consultants were competing with Indians and others who leveraged both the H1B and Outsourcing fads. US Consulting was decimated, most of those applicable sections of the industry were decimated.
Once the Indians, etal, proved that they were not able to deliver the business domain knowledge, it began to come back to the US or more accurately the Outsourcing was supplimented with US based "handlers" whose job it is to make sure they do their job correctly, but it is still one messed up industry because of that short term profit chase.
"The Shadow Of Crisis just chucked a brick through the window, and his angry buddies are charging, shouting racial epithets...."
That guy was one of the better guys they have ever had on. He knows his stuff. Impressive.
Which is why he'll never been seen or heard from by CNBS again!
And a fast talker too. His spokes are spinning so fast, the sticks bounce right off. That's the only way to talk to these MSM morons.
US hero
He'll be joining Swoden, in Moscow, shortly.
Sara Eisen... lol
what happened to the vapid chik that said Gold isn't money? oh, she got bumped to CNN prime time ...
so what? they'll just double up on the pundits singing happy days and rationalizing why he's full of shit, until the miniscule attention span of the viewer is exceeded. move along, nothing to see here.
The last thing our struggling economy needs, in the eyes of those charged with holding our confidence, is truth. When things are this fucked up only lies will do.
Its like a scene in a movie where a guy is blown in half and his buddy grabs him and reassures him that everything will be just fine...honest. It is important to remain calm...not for the sake of the victim but for the survivor. We need to believe the lie with our last breath.
You can't handle the truth!!!!!
He was being far too positive. Take all the increase in debt (QE, consumer debt increase, official and hidden bank bailouts etc etc) since 2008 and subtract it from the official GDP numbers. I'm pretty sure it would be easy to show GDP - particularly per head - shrinking year by year. If I weren't a lazy bastard I'd try to collect the data myself and do some calculations. I'm willing to bet my left testicle that the real US economy is shrinking and the debt increase is being engineered to keep it appearing to grow. The falsified inflation numbers are a critical component of that illusion too.
We know that's not your favorite testicle.