Art Cashin Explains Why Obama Is "Terrified" By A European Collapse

Tyler Durden's picture

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Mugatu's picture

Geithner is a tool.  Next time send him there in a clown costume.

achmachat's picture

dude! if you send Geithner in a clown costume, people would actually notice him!

Pegasus Muse's picture

"We think the President is terrified, since - if Europe goes, it’s likely he goes too."

Finally.  A Silver Lining to this mess. 

TheSilverJournal's picture

Not to mention that the fiat ponzi wiould collapse. And all Obama cares about is staying in power.

trav7777's picture

in "office."  He doesn't like this job nor want this job.  He just wanted to BE President for the adulation, just like his "leadership" of the Harvard Law Review.

ZeroPower's picture

He sure as fuck doesn't mind the $400k yearly expense account, money from lobbyists, and other perks - all included.

Mr Lennon Hendrix's picture

Adding Michelle's plush travel account, and his stock shares in the BIS Corp and Federal Reserve Corp, he is making millions.  Hopefully he does something with his fiat before Europe collapses. 

Villa in Maui?

Amish Hacker's picture

The real money doesn't start rolling in until he leaves office, writes a book, and hits the lecture circuit. Just ask Bill Clinton, who ended his term nearly impoverished by legal fees, but who somehow came out OK after just a year or two.

Moe Howard's picture

They all do well, at least during my lifetime.

TruthInSunshine's picture

Point- If Obama needs EU cohesiveness, he's screwed.

Counterpoint-    Have you seen the field of GOP contenders?

FMR Bankster's picture

Obama's not running against Republicans, he's running against reality. Democrats and Dem leaning independents ALWAYS vote Democratic. Republicans and Rep leaning independents ALWAYS vote Republican. Real independents decide elections and they ALWAYS vote their pocketbook. Game over Obama.

bogey4's picture

his stock shares in the Federal Reserve Corp?  Better check your sources Jimi - he doesn't and can't own "stock shares" in the Fed. 

Libertarian777's picture

U got that wrong. $400 k is just his allowance. His expense account is unlimited. 17 days in Hawaii. Who pays for his plane ride there? He sure as fuck ain't buying Hawaii airlines tickets on his own dime.

whstlblwr's picture

Get real. ZeroPower the brains. Obama would be making millions out of Harvard Law School at Goldman or other financial place. He took less as President.

eureka's picture

In a certain way "US" has now finally conquered EU - that is to say, "US Crony Capitalism", has "conquered" - hence EU "socialism" is now totally dead and and phoney and stinky and farcical and non-existing - except except for US style socialism for the rich - a.k.a. FASCISM. To wit:

Courtecy of The Blowhorn:  "EU Leaders Drop Demands for Investor Write-Offs"

http://www.bloomberg.com/news/2011-12-09/eu-leaders-drop-demands-for-inv...

US cronies have won - even EU socialism is dead  - welcome to national socialism for & by the rich elite. Sieg Heil, Amerika.

In assoicated news, HeimLand Security - excuse me, HOME-Land SS, has thousands of career jobs for you - check your local city busses for billboards - at least they're all over L.A. - AND - there are couples and threesomes of heavily armed "HomieSS" on all subway stations' platforms.

FASCISM - IS in US - NOW - not in the future - TODAY - and it has today succesfully been pushed upon Europe: NO WRITE OFFS FOR INVESTORS - ONLY ENDLESS BAILOUTS FOR THE SPECUALATIVE INVESTING CLASS - i.e. the elite.

Are you ready to suck rich-dick?  OR - are you cocking your gun to take them out - and their cronies with them?

Personally, rest assured, I for one, will kill them left and right with my bare hands, my teeth and my entire being. WWIII is coming to a town square near you - live, in 3D and full color & aroma. I can smell it every day. Can you? Napalm in the morning. Ahh. Clean-up time. Get ready.

Totentänzerlied's picture

"EU socialism is dead"

"welcome to national socialism"

Care to explain the difference, in detail? Don't waste your time: there is none.

saiybat's picture

How many times must socialism end in disaster and millions dead before people realize there's no such thing as free shit?

Calmyourself's picture

Still looking for anything he wrote at Hahhvaaad, how about his grades anyone seen those?  How about 1, just 1 girl he dated before Michelle??  This guy is a cypher wrapped in an enigma..

HellFish's picture

You sure you're looking for girls?

Moe Howard's picture

His sweetheart and "roommate" was a Pakistani. Once the fast cars and free apartments got cut off, Obama had to find a sponsor - seems it was the Saudis after that. We know how they like to "help" young men.

JPM Hater001's picture

Actually he just wanted to know if UFO's were real.

jesusfreakinco's picture

Don't forget his 'nobel peace prize' that he 'earned' - sarc off...

CIABS's picture

trav:  right.  and if he had actually wanted to do anything as president, to this day he'd be searching all over the white house wondering "where's the power"?

Popo's picture

"We think the President is terrified, since - if Europe goes, it’s likely he goes too."

One could then logically conclude that the entire Republican side of Congress would therefore be happy to see Europe go boom.  

We live in interesting times...

Flakmeister's picture

I am on record here as saying that the Repubs on the Hill are quite capable of doing something really stupid that ensures a deflationary collapse....sort cutting off one nose to spite one's face... 

If the system gotta go make mine inflationary....no body "wins" in deflationary collapse.... 

Smiddywesson's picture

Hold on there you crazy kids.  If the whole system goes boom, do you actually think the Republicans will be left unscathed?  Will anyone vote for them either?  No, they will stay loyal to their bankster masters, because they know that if they bit the hand that feeds them, the banksters will push forward another pawn in the form of a new independent third party "guaranteed" to be better than the last two, and entirely innocent of this whole bankster cabal ponzi game (wink). 

Once you take the Devil's money, there's no getting out of the game.  The Republicans and the Democrats will continue to do exactly as they are told. 

Your mistake in investing was in believing it was a market, it wasn't.  If you frequent this blog that much must be clear by now.

Your mistake in reading politics is in believing the game of politics is about the game of politics.  It isn't.  It's about fiat Ponzi and central banking.

whstlblwr's picture

@Flakmeister:

Perfect, you mean you're on your knees expecting inflation for all your debt. Clown. Nobody wins in deflation is false premise. Nobody wins in inflationary collapse, plus we get cherry of violence and mayhem. And while you're at it why not tell us voting doesn't matter either... oh see you've done it already. LOL!

"Are deflation and depression empirically linked? No, concludes a broad historical study of inflation and real
output growth rates. Deflation and depression do seem to have been linked during the 1930s. But in the rest
of the data for 17 countries and more than 100 years, there is virtually no evidence of such a link."

http://www.minneapolisfed.org/research/sr/sr331.pdf

pods's picture

Jackass.  Most of the data sets were before we went full fiat retard.  And of course modern data is not reliable, since if you technically have a depression, they change the damn rules.

Of course if you have a hard money standard deflation is normal.  Productivity increases are enjoyed by those who increase the productivity.

That FED paper is comparing apples to hand grenades.  Deflation due to productivity would be good.  But we cannot have that due to the governments of the world needing the extra revenue that is skimmed off through the inflation tax.  So when we speak of deflation now, we are going to be speaking about cascading defaults, not simple productivity increases.

You might want to be careful with your accusations of false premises when trotting out BS like this:

 

"Note that most of the episodes in the data set that have de?ation and no depression occurred

under a gold standard; does that somehow make them irrelevant for shedding light on de?ations

under a ?at system? No."

I stopped reading that drivel after that line.

 

 

pods

tarsubil's picture

"Of course if you have a hard money standard deflation is normal.  Productivity increases are enjoyed by those who increase the productivity.

That FED paper is comparing apples to hand grenades.  Deflation due to productivity would be good.  But we cannot have that due to the governments of the world needing the extra revenue that is skimmed off through the inflation tax."

 

So good that it is worth repeating.

whstlblwr's picture

Wow, pods talking points. We need inflation, and voting doesn't matter.

I'll go behind an academic research report before value opinion of idiot who signs anonymous blog pods, LOL.

pods's picture

Yep, my "talking points."  Funny how you happen to think in terms of politics?  It is quite amusing.  Good luck to ya!  

I never said voting doesn't matter.  It matters more than you will ever know.  But not for accomplishing anything that the people want.

Voting is of the utmost importance to keep people like you believing that you actually have a say in how they run your life.

And, if you actually KNEW how to read, you would see that I never said WE need inflation.

Of course, you are in that realm of thinkers who happen to think that the government IS the people, so I can see how you would mistake government for me.

pods

 

whstlblwr's picture

I'm in realm of thinkers who think you're troll! LOL.

mayhem_korner's picture

 

 

Technically, "realm" requires more than one element.  FAIL.

Flakmeister's picture

You guys are hilarious....

The concensus here at Zero Hedge is that it will not be deflation.... and I get junked for saying that I fear a deflationary collapse and that the Repubs are more likely to bring it about (what with show downs over debt ceilings and whatnot, go figger)

FWIW, my *total* debt level is $4,800...

I fear deflation because destroys everything in its wake, there is limited investment possibilities with high real interest rates....

And if you think that gold can function as a currency, you had better get US oil consumption down by 2/3.... i.e. drop about 10 mmbpd in imports....

The pair you have to worry about is oil-gold if you haven't figured it out yet....

 

Esculent 69's picture

Good. We can bury them next to each other in the graves they asked for. Go long on shovels,lye, and yes as always guns, ammo, and bullion. Tis the season.

player333's picture

You are correct, TPTB will shuffle, print, kick the can and try to balance inflation against the tidal wave of default-which I think  cannot be stopped.

Mr Lennon Hendrix's picture

Flak,

Deflation maximus would suppose you could get rid of the quadrillions of dollars in the system that are floating around nearly worthless.  There may still be some deflation to come, but when the currencie is worth nothing and backed by nothing, hyperinflaation is the End Game.

kridkrid's picture

I don't know if it really makes a difference.  Hyperinflation and deflation end up being the same thing... a system so completely turned upside down as to render "commerce" as we know it, dead.  There isn't a medium of exchange that people are willing to accept.  One system is broke because I don't have it (fiat money) the other because people won't accept it (fiat money).  Either represents the end of the dollar as we know it.  What comes next and who gets to decide and how do I survive the time between systems are the questions to ask, I think.

fnord88's picture

Exactly.....we need a new name for hyperinflation, cause it has fuck all to do with inflation or money printing......and it is deflationary in practice. First loss of confidence, then increase in velocity, then liquidity problems, then massive money printing.

kridkrid's picture

Voting can't change our monetary system, I don't think.  Virtually all money is created as debt with interest associated with it.  Only there is isn't "money" in the system to pay the interest, so the system itself needs to issue more debt.  This continues until the cost to maintain the debt overwhelms the productive economy.  That ship sailed a ways back... it's been mostly smoke and mirrors since then.  Our collapse is coming and there is nothing that your vote can do to change it.  If one wants to vote for Ron Paul in the hope that he will ultimately be the person who can decide what will happen after the crash, I'm 100% on board.  I've voted for RP my whole life, starting in 1988 when he ran as the libertarian candidate.  But he can't "fix" where we are today.

pods's picture

Right in the 10 ring!

It isn't politics, it is math.

pods

Calmyourself's picture

Wow, POPO great logic and you got 7 idiots at this point to agree..  I never have to wonder why we are fucked..

El Oregonian's picture

Exactly, Just as the Democrats RAILED on the General Petraeus engineered successful "Surge" in Iraq. Intresting times, indeed...

Flakmeister's picture

You are under the delusion that changing the resident of the Oval Office will change anything. If you were to get your dream candidate elected, you would only reap the tears of disappointment... And yes, that applies to Dr. Paul as well... So sit back, heckle and denigrate O all you want and take solace in that at least you have a focus for your discontent....  

ElvisDog's picture

Obama is one of the weakest and worst presidents this country has ever had for the simple reason that he could have made a difference. In early 2009, he was enormously popular, he had filibuster-proof majorities in both houses of Congress. He could have tackled the hard problems and re-set this country's course. But what did he do? He fell into line and catered to the whims of the banksters, the health insurance and big pharma companies, etc., etc., etc. His entire philosophy of governance can be boiled down to the phrase "kick the can down the road". And now the opportunity for "change" is lost and we are heading for the abyss.

kridkrid's picture

I think that he's right and you are wrong.  He's right because he has math on his side, you have emotion on yours.  This video was posted here a couple of weeks ago (Chris Martenson's talk in Spain).  http://www.youtube.com/watch?feature=player_embedded&v=8WBiTnBwSWc - This isn't a "problem to solve" this is a predicament created years ago when we created a monetary system based on credit/debt money.  It's "kick the can" or deflationary depression.  And the can has been kicked for literally generations now. 

What we need to focus on now is making sure that people understand what is happening and do our best to make sure that "what comes next" isn't more of the same.  But "what comes next" can't happen until the whole thing comes down.

ElvisDog's picture

Well, he could have pushed a healthcare reform act that actually reduced healthcare costs. He could have had Congress reinstall Glass-Steagal. He could have eliminated the federal guarentee of student loans thereby reducing college tuition. He could have brought the troops home from Iraq and Afghanistan. He could have told his Attorney General to indict and prosecute the Wall Street bankers who committed fraud and other felonies. Shall I go on? He could have easily done all of those things and more that would have made a real difference.

kridkrid's picture

I agree with all of those things... but all of those things ultimately only work to hasten the economic collapse.  Once you get your arms around what money is... at least in our debt/credit based monetary system, the only way to avoid massive liquidation (deflationary depression) is to continue to expand debt.  Everything you describe does the opposite.  In the video I linked below... it's the difference between a "problem" to be solved and a predicament

whstlblwr's picture

"What is striking is that nearly 90% of the episodes with deflation did not have depression"

A 100 years of data.

http://www.minneapolisfed.org/research/sr/sr331.pdf

You sound like a banker. I love Ron Paul, I vote for him all my life, but he can't help you, he'll take you to war like all the rest of them... is that what you mean to say?