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Blankfein Warns Of "Jarring" Jolt From Fed Rate Hike
Lloyd Blankfein and Michael Bloomberg sat down for an interview with Bloomberg TV on Wednesday, and discussed a wide range of topics from Fed "liftoff" to China to US politics.
There was quite a bit of aimless pontification, a bit of levity, plenty of hypocrisy, and some rather amusing commentary on democracy in America and the role of the Presidency. Most notable are Blankfein’s thoughts on the effects of a Fed rate hike and Bloomberg’s take on income inequality in America and Congressional paralysis.
Here’s Blankfein on "liftoff":
Well, I think it will be jarring when we see an interest rate hike because we have not had one for some time. And then I think people will get out the smelling salts, take a sniff, and recover because when we have that first hike, the Fed has already suggested that it will be very conservative, at the trajectory of future hikes.
And so if we end up with interest rates at 0.5 percent, or even if we went, over time, in the near future to 1 percent against the growth rate, it will only be because the growth rate is at trend growth or maybe even higher. That will still be substantially easier financial conditions than we usually have.
And the Fed would rather take a risk on having rates too soft for longer than run the risk of giving up all that they have accomplished and in getting the economy to where it is now. And so they will keep things easier for a long time.
So in other words, a legion of traders who have never, in their young careers, seen a rate hike cycle will immediately panic and have to be revived with "smelling salts", after which everyone will realize that in the grand scheme of things, rates will never really "normalize" (incidentally, neither will GDP growth) and that the Fed became an instrument of Wall Street decades ago, so if the FOMC does prove unable to keep the party going in financial assets, it won’t be for lack of trying.
Next is Bloomberg on inequality and the Fed’s role in exacerbating the wealth divide:
Well, I think -- there's no question that they have -- the Fed's low -- in my mind, anyways -- no question that low interest rates have exacerbated the wealth gap between the poor and the rich because the rich have assets. And that is what is being hiked here because of low interest rates, whether they own stocks or real estate or whatever the case may be.
And long-term, that is a very big problem for this country. And you do not solve the problem as the populists would argue by taking things away from the rich. You solve the problem by giving opportunity to everybody and by creating jobs.
Aside from the humor inherent in the fact that this is a billionaire talking about class segregation, the real punchline here is that Bloomberg is making these comments just a week after his own media empire ran a story on Lloyd Blankfein becoming a billionaire on the back of the Fed-assisted rise in his company’s stock price.
And here’s Bloomberg on why what matters in the political process isn’t necessarily what citizens want, but rather how effective a President is at imposing his or her own will on the collective. As for Congress, well, Bloomberg "doesn’t want to use the word manage," but really, lawmakers are a lot like children wanting to play Angry Birds and as such, the President must be the parent and simply "bring them along."
But let me just give you a thought, Stephanie, we keep thinking the wrong thing when we pick the elected leaders, particularly the Presidents of the United States, governors of the states and mayors of the cities. These are not policy jobs. These are executive jobs. You have to pick somebody that knows how to run the railroad.
That's part of the job. You can't blame -- the executive's job is to bring along the legislature. I don't want to use the word manage because they have their own third of the government, if you will, of power. But it is the executive's job to explain to the legislators why his or her policies are the right one and bring them along.
You do not go and do a poll and ask the public what they want and then try to take them there. That is leadership from the back. You are elected to go and to say this is what I'm going to do and convince people to come along with you and have the horses to get us all there.
But you know, that is the executive's job, to get Congress to come together. You trade, you bribe, you threaten, you cajole, you do all these sorts of things, the same way you run your kids.
You say to your kid, clean your room or you do not get your allowance. You say to your kid, you do your homework or you cannot play Angry Birds. You say to your kid, you're doing a great job and let's just do more of it. I'll help you. I'll work together. People interact on a lot of different ways. And it is the executive's job to do that with Congress as well.
And if all of the above isn’t scary enough for you, we’ll close with the following exchange:
Bloomberg: Would you like to get into government?
Blankfein: I think it would be an attractive thing to do.
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Blankfein needs a jarring jolt right up his ass
Translation: WE TOLD YOU TO GET THE FUCK OUT NOW YOU MOE-RONS!
But the term should be "SHREDDING", not "jarring"
That Jarring Dolt should continue doing God's Work.
My personal favorite was "You do not go and do a poll and ask the public what they want and then try to take them there."
I'm sure he questions why we even need political elections either..........thank god for Jade Helm, right Lloyd?!
Both these stinkpot joos need a horse kick right between the eyes!
Exactly. Sounds like Gold Slacks may be putting a Republicrat in the White House this time around to keep the delusion alive.
The hubris of the tribe is breathtaking.
Not really. They see that there are no consequences even when they outright break the law so why wouldnt they have this viewpoint?
Obviously his second billion will get more diificult - so the head of the Vampire Squid warns. Old Yeller better listen to her owner.
US debt is so high that any rate hike can destroy the fragile economy
No rate normalization during my lifetime Bernanke
Why would Blankfein want to get in government? He owns it already.
He wants to be on the receiving end of bribes.
It is a time honored tradition...look at all the good works Hank Paulson did! He singlehandedly rescued Goldman and made them trillions! He destroyed Lehman. Blankfein plans to do the same!
More like a jarring jolt to blankfiend's stock options.
Lew to Congress: Debt Ceiling Needs Extending
Ha ha ha ha
Of course it does, the debt merchants and the politicians both understand that debt HAS to continue to grow or the ponzi collapses like house of cards
We all know the debt can never be repaid in anything like real terms. The whole thing will come down one way or another. Inflation, default or borrowing until it crashes. Ugh.
* * *
Nice being back among old friends, booboo, even if mi nombre es diferente...
"You solve the problem by giving opportunity to everybody and by creating jobs."
And why, exactly would we want to do that, Lloyd? Seems the current system is working quite well for you and your buddies right now.
I find it IMPOSSIBLE to believe this guy is afraid of a few pitchforks. Or ANY pitchforks. Especially since there has been NO VIOLENCE towards "rich people" of any kind in any way, even as their wealth has outstripped that of average Americans by a multiple of thousands, even millions.
Self-serving tripe.
No you don't take their money, you string them up.
Long piano wire.
Lord Blankfein, being a khazarian kingpin in the Fed knows there will be no rate hikes during his lifetime.
Don't be so sure of yourself inflation is running higher than stated, and they know it.
As it has been for a decade or so. Raising rates will implode the system. Which of course could be their reason to raise them.
I remember the dayz when the FED would raise rate a full point. If that were to happen, I think banksters would stroke out and start jumping out of windows.
It would be bad news for Hildabeast.
I doubt that there would be anything good for Hillary now, short of a global EMP.
You'll be surprised when Trump is forced to run as an Independent.
With no competition among the Demonic party.
Satan himself is running this election.
Scorn Clintoris at your peril.
Hath not a woman eyes? If you prick us, do we not bleed? and if you wrong us, shall we not revenge?
You solve the problem by giving opportunity to everybody ....funny then why build a HFT computer.....that is kind of the other side of that statement I think.....the Tribe can steal...but not you
Going through the 5 stages of grief.
Quicksand | Robot Chicken | Adult Swim - YouTube
I am not a practitioner of anti-Semitism, the European and now Islamic disease of the mind. However, it is appalling that there are so many high-profile Jews (Greenspan, Bernanke, Blankfein, the Goldman-Sachsonites, Bloomberg, Sumner Redstone, et. al.) who are leading the charge of Class Warfare against the middle and lower classes.
Make no mistake about it, there is Class Warfare being relentlessly waged in the United States against the American People by the rich. Zero Interest Rate Policy (ZIRP) is the most recent, directly "in your face" form of class warfare implemented by the rich. The Class Warfare that has now been intensively waged for more than three decades has impoverished tens of millions of Americans and dramatically reduced the middle class and enlarged the lower classes.
As far as I am concerned, the rich and their whores in politics, government, main stream media, Wall Street, banking, law enforcement, etc., are the enemy of the American People. When they and their families reap the whirlwind I will lift not one finger to help them. They have brought it all upon themselves with their blind greed and whorish values.
None of those you mentioned are semites. They are khazarians. Devils incarnate.
So, Mein Kampf was correct? I don't think so. There's somethng else afoot. For the non-believer it's hard to figure; for the believer, it seems fairly obvious.
And thus the false claim of modern Zionists as sole descendants of the biblical Israelites to Palestine as “A land without a people for a people without a land."
Palestinian people: Wikipedia (excerpt)
The Palestinian people are the modern descendants of the peoples who have lived in Palestine over the centuries, and who today are largely culturally and linguistically Arab due to Arabization of the region. Despite various wars and exoduses, roughly one half of the world's Palestinian population continues to reside in historic Palestine, the area encompassing the West Bank, the Gaza Strip and Israel...
Genetic analysis suggests that a majority of the Muslims of Palestine, inclusive of Arab citizens of Israel, are descendants of Christians, Jews and other earlier inhabitants of the southern Levant whose core may reach back to prehistoric times. A study of high-resolution haplotypes demonstrated that a substantial portion of Y chromosomes of Israeli Jews (70%) and of Palestinian Muslim Arabs (82%) belonged to the same chromosome pool….
http://en.wikipedia.org/wiki/Palestinian_people
How do we express our opposition to actions by people dominated by race without the label anti-Semitism? If it isn’t anti-Semitism what is it?
“This is our Israel, this is for the Jews. No Palestinian should come to Israel”: A Palestinian-American’s story of being detained at Ben Gurion airport’
- See more at: http://mondoweiss.net/2015/07/palestinian-americans-detained#sthash.8x4cY7cC.dpuf
Time Warner executive moonlights as speechwriter for Netanyahu
US Politics Philip Weiss on July 28, 2015
Gary Ginsberg, a top executive at Time Warner, is a speechwriter for Benjamin Netanyahu in his free time. Ginsberg says Time Warner is fully aware of his service but has not disclosed it because he does so in his personal capacity as a friend of Netanyahu’s.
http://mondoweiss.net/
It's a lousy quarter fucking point! If the markets can't handle a quarter point what makes anybody believe that we will ever see rates normalized again? Oh yeah, fuck you Blankfein
Blankfein is like a pitboss suddenly realizing there is gambling going on.
Anyone notice how only the rich (very rich) are the ones always blabbering about income inequality as if that's something they're really concerned about? Makes for awesome sound bites but when you realize what they're saying - you'd rather just punch them in their necks.
Such a robust economy that a .25% increase will cause havoc....
Yep...Good times ahead!
"And the Fed would rather take a risk on having rates too soft for longer than run the risk of giving up all that they have accomplished and in getting the economy to where it is now."
"no question that low interest rates have exacerbated the wealth gap between the poor and the rich because the rich have assets"
So if we put those two together, the Fed doesn't to give up all that it has acheived. That being that the Elite got the gravy and the poor got the shaft I guess.
We all know that Loyd is an honest man and he is doing this for our good!
SO
What LLoyd Blankthief wants is for the Fed to keep the white powder free money coming his way until he has personally pocketed all the savings of the American Middle Class.
But what the not so smart, just lucky and corrupt, Blankthief doesnt realize is that the market will shortly implode under its own weight, China will tank at the same time, and the Fed will be completely out of ammo. No amount of printing will pick us up.
And he can go off to his big ugly house in the Hamptons and sit there alone, very rich and very hated thinking what a contribution he has made to mankind.
SO
What LLoyd Blankthief wants is for the Fed to keep the white powder free money coming his way until he has personally pocketed all the savings of the American Middle Class.
But what the not so smart, just lucky and corrupt, Blankthief doesnt realize is that the market will shortly implode under its own weight, China will tank at the same time, and the Fed will be completely out of ammo. No amount of printing will pick us up.
And he can go off to his big ugly house in the Hamptons and sit there alone, very rich and very hated thinking what a contribution he has made to mankind.
SO
What LLoyd Blankthief wants is for the Fed to keep the white powder free money coming his way until he has personally pocketed all the savings of the American Middle Class.
But what the not so smart, just lucky and corrupt, Blankthief doesnt realize is that the market will shortly implode under its own weight, China will tank at the same time, and the Fed will be completely out of ammo. No amount of printing will pick us up.
And he can go off to his big ugly house in the Hamptons and sit there alone, very rich and very hated thinking what a contribution he has made to mankind.
SO
What LLoyd Blankthief wants is for the Fed to keep the white powder free money coming his way until he has personally pocketed all the savings of the American Middle Class.
But what the not so smart, just lucky and corrupt, Blankthief doesnt realize is that the market will shortly implode under its own weight, China will tank at the same time, and the Fed will be completely out of ammo. No amount of printing will pick us up.
And he can go off to his big ugly house in the Hamptons and sit there alone, very rich and very hated thinking what a contribution he has made to mankind.
...yeah, either that or, he'll front run the damn takedown positioning himself to capitalize on the disaster (playbook '08).
"He would see this country burn if he could be king of the ashes." -- Varys, G of T's
Speechless by his words of course...
But I don't know what is more breathtaking...
The slimy motherfucker in his own words?... Or Bloomberg giving him the capacity and "the podium" for speech?
It's "god's work" man, you wouldn't understand, Mammon works in mysterious ways.
The fed has lots of ammo.
It's called NIRP and it can go as low as they want.
Black cock in Blank's asshole is the only jarring that counts
Something "Black" indeed...
But I was thinking of something more prodigious along the lines of Shaquille O'Neil's fist all the way up to his shoulder!
You trade, you bribe, you threaten, you cajole, you do all these sorts of things, the same way you run your kids.
At least that gungrabbing fuckmook is telling the truth about how to compromise politicians.
When I was told to clean my room, I did, because the next request came with an ass whipping.
Maybe the "executive" should add that tactic to his repertoire
"Clean your room or YOU'RE FIRED, pinhead".
Blankfein is sorry about stealing the wealth of America for the Ziogangbangkster cabal coffers.
Goldman has 2 assholes that talk.
One talks for the Fed.
The other talks about the Fed.
Silly me, I thought elected mayors, governors and presidents were to represent the people’s interests. But the conversation between these two thieves actually spells out the way this government is run: top to bottom.
It’s run by the thieves developing the policies that would give them the most money and the most power. It’s the executive’s job, and Bloomberg doesn’t even show the shame in saying it, to explain to the people why the thieves need to get their way:
You are elected to go and to say this is what I'm going to do and convince people to come along with you and have the horses to get us all there.
The British Empire had this principle down pat. It isn’t up to the people to decide what’s best for them; they’ll just make the wrong decision. Instead the privateers and the resource experts from Britain will make the decision and inform the people. The empire, like the British Empire, like the developing Zionist Empire - with America its enforcer - makes the decision and no citizen viewpoint is needed.
And like the Bloomberg-Blankfein thieves, the policy decision just makes the policy makers filthy rich and puts the people in chains.
Welcome Americans, to Palestine.
The reason behind this interview was to highlight a joint effort initiative between GS & Bloomberg to finance small business.
I'd be curious to see, after this lending program has been in the works for a while, how the loans breakdown in terms of
the demographic info. of the recipients. It's my contention that there will be ethnocentric bias. Keep it in the family.
Like Goldman's Andy Slavitt taking head control of Obamacare; sort of completes the circle of money changers,
Welcome Palestinians, to Belfast. Whats yours is ours. Make room for our ghetto rats.
DIE YOU CRIMINALS
Oh that Joltin' Joe's Louisville Slugger was still around... to administer a jarring jolt to Blankfein's jugular.
So Lloyd:
When you say "The Fed", you actually mean "Goldman Sachs, my employer",
And when you say "Janet Yellen raises rates", you actually mean "I, Lloyd Blankfein, will tell Janet Yellen to get to work"
We can all see you behind the curtain you cunt.
I'm gonna make this short and VERY SWEET.
It IS time to dissolve the Fed, send those global central bankers to their bunkers and, America, let us go back to printing our own money and back it by gold. Why, in God's name, do we allow The Fed (a "private freaking bank") print our money for us and then changed us interest for that money....and then send interest bonues to their other central banker-buddies!
Once the dust would settle, inflation would not be an ever-present worry, people could actually save money to retire on using their OWN money. As Woodrow Wilson said after the creation of The Fed, "I have helped to ruin my beloved country".
Close the Fed, please.
Of course, ya gotta be careful. Kennedy had the Fed in his sights and look what they did to him.
http://www.theliberist.com
Blankfein wants to join the government so that he can sell his GS stock (with the Federal Tax exemption.)
Thats worth hundreds of millions to him. And they pretend that they are sacrificing on the financial front.
I dunno, I was suddenly struck by the movie "Deliverance" when watching these two rich-Semite-inbreds enjoying themselves, and I was thinking how we're all bent over a log like Ned Beatty....
"I bet you can squeal like a pig, Wrieeeee! C'mon boy give me a ride!."
Yeah, but that's not Kosher.
Excuse me Lloyd...........BLOW ME!
"The fed doesn't want to run the risk in giving up all they have accomplished in getting the economy to where it is now".
Did he really say that?
how to run the railroad
http://libcom.org/history/articles/us-rail-strikes-1877