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Mizuho's Ricchiuto Wipes The Floor With Deutsche's Lavorgna: "Why Do I Even Bother?"
The last time Mizuho's Chief Economist Steve Ricchiuto was on CNBC, we suspected he would never be invited back. However, today, he dared to unleash the truthiness of the US economy, debating 'truth' with none other than Deutsche Bank's meteoroconomist Joe Lavorgna. As soon as Ricchiuto stated unequivocal 'facts' about growth, productivity, and earnings; the smiling Lavorgna started talking over him to which Ricchiuto blasted "why bother... why do I even bother?" and Lavorgna fell back to the "well he has been short the market for 400 points" argumnet which Ricchiuto rebuffed aggressively...
One of these guys is thoroughly pissed off... the rest are smiling.
The fireworks begin around 3:00 (but watch the intro for some facts)
As a reminder, this was Ricchiuto's last appearance...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!"
* * *
And here is why Joe Lavorgna gets paid the big bucks...
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What is it that you fail to understand about the WEATHER!
Yeah, no kidding. How can you get any work done when it's raining or snowing -or you don't get enough rain like in California? It was raining in Dallas last night and my dog didn't get to go on her nightly walk. Boy, was she pissed. She actaully took a crap near the door.
You simply can't get upset about bad economic numbers if it snows or rains to hard. We had icy roads and snow in Dallas two days this winter and they cancelled school- do you think my daughter got any work done those two days? Hell No. She played in the snow and screwed around talking to her girlfriends all day. I didn't get much work done either. There's something about snow in texas that just makes you want to screw around and take the day off.
GHW Bush did it ...... /sarc.
I used to work with Steve. He calls them like he sees them. You go, Steve!
Helped me remember why I don't watch CNBC,talking heads spewing bullshit and promoting the FEDs fake numbers about the economy. Let it burn is right!,
No different than you would get at any used car lot.
LaForehead gets liar's drymouth at 2:02.
"LaForehead". This one is my favorite so far.
joseph a lavorgna has a better smile than Krugman
That shit-eating grin on La-la's face at the end, as he laughs like the bully in the alley, is a psychopathic trait known as "duper's delight." The only thing a psychopath really wants is to win.
A meteorologist posing as an economist?
With a name Like Joe LaVagina, how can you go wrong?
Rubbiwh TV.
No wonder it's called MS-LSD..
And how many watched??
In August of 2013, attorney group sent a letter stating that Calif Unclaimed Prop Div were holding funds of my xhus and mine due to inactivity (RIP babe). It had been since 1999. I have still not gotten this rather small amount transferred into my name alone. During this 1 - 1/2 year period, Calif Unclaimed Property Div attempted to deposit it into their own account at Wells Fargo but, of course, you cannot deposit securities into a checking account. The atty firm initially contacting me, giving me 30 day deadlines and signed letters in-7-days frantic tone initially, has disappeared off the map, even in lieu of their not having received their 10%.
I have had to go to court to pay for copies/certifications and to the bank and get Medallion Signature guaranteed death cert., divorce decree, massive amount of paperwork to fill out, letter written by me with explicit instructions, signature guaranteed once-a-fucking-gain.
Now Deutsche bank states the div decree should state that upon xh's death, I should get funds. (I am owner as Jt Tenant), I returned to maiden name after div which has caused another un-fucking-believably complicated situation - I hyphened names on all paperwork to prevent confusion and since my legal name is not hyphenated, I will have to redo everything, return to court, bank, post office, pay for the copies (40 bucks).
The attitude of the representatives of Douche Bank is best described as pompous and condescending. Leveraged as they are 150:1, it was an affront to me and I let her know it in a tirad of profanity-ridden exclamations directed at the fraudulent institution she was employed by and their placing humanity, civilization itself into a precarious position, a dark period in the history of man may never be this bad.
Arrest that man.
P.S.: Gabelli funds were switched into my name with only a few documents (death cert/letter of instructions by me/bank sig guarantee (1) - A ~breeze~.
I can't wait to e-mail Joe that Video when this thing goes down in 6 months to a year. Heck might be this month....... what a douchebag!!
When coffee becomes cold, call it the new morning joe.
That's why we don't watch CNBC for the foreign ZeroHedge posters. It amounts to children speaking over each other. Screaming Me, Me, I, I.
It takes too long for an economist to explain a thessis and no one in America has the attention span to listen.
Just love to sit back and watch these so called economists and experts make fools of themselves. For me, I'll just stay long the futures until the longer term moving averages tell me to exit. Moving averages, best things ever devised, they'll keep you on the right side of the markets. Most of the time, anyway.
You'll know it's finally happening when the MSM starts to change the narrative (ie starts telling a sliver of the truth).
Fucking Douche Bank dickhead. What a prick. I hate when spinheads talk over someone saying something that makes sense. Of course the hosts didn't pick on the POrick and tell him to STFU! Nope. Typical of CBNS.
Too bad I missed that. I sold eveything and said Eff it today.
Joe Lavorgna the weather man.
If the US didn't have weather everything would be great..
Deutsche Bank's meteoroconomist Joe Lavorgna.
Shouldn't that read Deutsche Bank's meteorologist Joe Lavorgna instead, what with all this weather talk
and the like.
Smiling Deutsche bag
Back in the day the stock market was said to look forward six months into the economy.
Back in the day the stock market was said to look forward six months into the economy.
Jade Helm 15 Brought to you from the spouses of Chriss Dodd and Ted Cruze and while we are at it the GE liquidations of comercial paper..... Janet they don't balance out... Oh yea $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World Joe Lavorgna you are going the same way as Blythe
Ricchiuto just offered the three in the picture a job in real porn.. and their Lnkd in profile made them the perfect canidates.. Now what was that about liars nerver figure........ biggest worry swaps don't balance....
Maybe the Stock Market is looking forward to these pay increases they are talking about lesilating into exsistance and people having enough money to buy that unsold inventory and move into those new houses.
Just like the Chinese are doing by diverting investment into higher wages so the masses can move into the "Ghost Cities".
They are jacking up government workers pay so that they can afford to live there and that is expected to kick off demand for a goods and services infrastructure to support them.
They are basicaly investing in a middle class and moving toward an internaly driven consumer economy.