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Art Cashin Explains Why Several Hundred Thousand Jobs Are About To "Vaporize"

Tyler Durden's picture


Two days ago we learned that when MF Global goes bankrupt, billions in cash can just "vaporize" (no, really - see here, and of course, in the passive voice. can't say something like Jon Corzine vaporized $1.2+ billion in client money now can we). Next we have Art Cashin explain why it is that the US economy is about to see several hundred thousand jobs "vaporize" as well. Perhaps "vaporize" should be the motto of the current Administration: confidence "vaporized", hope "vaporized", and "evaporation" you can believe in, as it condenses on the teleprompter...

From Art Cashin UBS Financial Services:

Disappointing Jobs - While everyone seems to debating what the non-farm payroll numb will be Friday, a few are looking toward the annual revisions in the much debated Birth/Death model.

As you probably recall, it does not refer to the birth or death of humans. The badly named model refers to the birth and death of businesses. Each January the BLS revises the number, usually vaporizing thousands of jobs.

We were going to try and calculate the likely revision, but our sharp-eyed friend over at Bloomberg, Rich Yamarone, as usual, beat us to it. Here’s what he wrote in his Notepad column recently:

The Net Birth/Death (NBD) statistic adjustment – an adjustment the BLS uses to account for job creation or loss with respect to births and deaths of businesses – is always the weakest during January. Over the last five years the NBD for January has averaged -335k. [January 2011: -339k, January 2010: -427k, January2009: -356k, January 2008: -378k, January2007: -175k.]

So, if past is prologue, we could see three or four hundred thousand jobs vanish. Nothing like a dependable indicator.


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Tue, 01/31/2012 - 12:06 | 2112892 TruthInSunshine
TruthInSunshine's picture


Tue, 01/31/2012 - 12:11 | 2112914 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

America, vaporized!

Tue, 01/31/2012 - 12:13 | 2112919 NotApplicable
NotApplicable's picture

Seed corn, vaporized!


Tue, 01/31/2012 - 12:40 | 2113046 VanillAnalyst
VanillAnalyst's picture

I vote to replace the word vaporize with sublimate. A) It sounds cooler, B) Less people know what it means. And as we all know, the more complicated something is, the more we get paid to voice our opinion on it.


-MC Corzine

Tue, 01/31/2012 - 12:43 | 2113057 ratso
ratso's picture

Tyler - the only thing that has vaporized is you rationaiity when it comes to evaluating the current administration.

Tue, 01/31/2012 - 12:49 | 2113096 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Obama's credibility, vaporized!

Tue, 01/31/2012 - 12:54 | 2113117 Tortfeasor
Tortfeasor's picture

ratso's credibility, vaporized!


Tue, 01/31/2012 - 13:53 | 2113347 espirit
espirit's picture

Did Gingrich say "moombasa", or "moonbase" ?

Tue, 01/31/2012 - 15:59 | 2113769 trav7777
trav7777's picture

the jobs don't actually can you vaporize vapor?

Tue, 01/31/2012 - 17:13 | 2114212 johnu1978
johnu1978's picture

You vaporize the jobs by hitting them with a Tetron Disruptor!



Wed, 02/01/2012 - 01:34 | 2115590 boiltherich
boiltherich's picture

You have never added one constructive word to this forum trav777, you closet case.

Tue, 01/31/2012 - 17:54 | 2114364 4horse
4horse's picture

the neuter sez: As governor of Massachusetts, Mitt Romney vetoed a bill paying for kosher food for our seniors in nursing homes. Holocaust survivors, who for the first time, were forced to eat non-kosher, because Romney thought $5 was too much to pay for our grandparents to eat kosher. Where is Mitt Romney's compassion for our seniors? Tuesday you can end Mitt Romney's hypocrisy on religious freedom, with a vote for Newt Gingrich. Paid for by Newt 2012.

Wed, 02/01/2012 - 17:40 | 2117830 thewhitelion
thewhitelion's picture

An asshole of his proportions, and this is the best you can come up with?

Thu, 02/02/2012 - 05:18 | 2119283 4horse
4horse's picture

craven enslavement to a foreign nation. treason. betrayal

this special relationship is the best you can come up with . . .



the white lies -sex,sin,religion. hypocrisy. delusion,deceit,narcissism. Ambition- a mere tedium and quotidia, by comparison, with what's being underwritten by one sheldon adelson  .  .  . A hole of such proportions as a whole world could fall into

Tue, 01/31/2012 - 20:53 | 2114947 cbxer55
cbxer55's picture

More likely Moonbat. ;-)

Tue, 01/31/2012 - 13:03 | 2113153 UGrev
UGrev's picture

You took the wrong pill, dumbshit. 

Tue, 01/31/2012 - 13:24 | 2113238 HardwoodAg
HardwoodAg's picture

Yup. Time to start taking a more pessimistic view.

Tue, 01/31/2012 - 14:28 | 2113446 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

You can read a pessimistic view at my blog.  "How Long (Can This Keep This Going On)?" is the new article there.  I also write about gold, review Barron's, and other material I hope will entertain my readers.  Would you like a look?  Gmail me at my name and assure me you will behave.  I make people jump through this hoop to keep out spammers & bots.

Tue, 01/31/2012 - 14:00 | 2113367 dirtbagger
dirtbagger's picture

I don't get the Obama haters.  Are you disappointed because he didn't wave his magic wand and make all of his campaign promises come true.   I really don't see that the Obama policies are fundamentally much different than what could have been expected from a McCain Presidency.  Would you all hate McCain (an old white guy) as much?  

The numbers on unemployment, gdp, inflation etc., have been massaged for decades and by all administrations.   Do you guys really think that any President gets to start their administration with a clean slate.  About 99% of any candidates platform is blue sky, with the exceptiion of war powers, the system does not give any president much wiggle room.

Time to grow up.  US polictics are not about party, sexual orientation, rights of the unborn, religion vs atheism; those issue touted by the MSM are just a sideshow.  US politics are about retention of power, money, and access to influence.   Obama's actions over the last 4 years are not any different than his predecesssors.   Why all the vitrol?


Tue, 01/31/2012 - 14:16 | 2113424 GeezerGeek
GeezerGeek's picture

Maybe it's because he is so blatantly anti-liberty and anti-America. Maybe it's because he's an arrogant fascist dictator. Maybe it's Obamacare and all the other unconstitutional crap he stands for, like appointees made without congressional approval while the Senate was in session. Even Clinton managed to give the impression that he liked the USA. Clearly 'O' does not.

On the other hand, I just am fed up with all the politicians, of both parties, who want to accrue power to themselves while ignoring the Constitution. I can't think of one living president I like, and precious few dead ones dating back to 1860.

And yes, I would hate McCain too. Think McCain-Feingold if you need a reason why.

Tue, 01/31/2012 - 14:28 | 2113466 mkhs
mkhs's picture

You forgot NDAA.

Tue, 01/31/2012 - 14:44 | 2113515 GeorgeHayduke
GeorgeHayduke's picture

NDAA was sponsored by Republicans and passed by a Congress with a Republican majority. This fact is always conveniently missed or forgotten. They are all in on it folks.

Tue, 01/31/2012 - 14:49 | 2113531 Calmyourself
Calmyourself's picture

I have not forgotten anything and I hate them for it and hate bammy for signing it on new years.. Sneaky bastard and when did he sign obamacare??  No, I hate them all, bamster is just in your face and easy to hate as he is so anti-everything most of us would like to believe we and America should stand for.

Tue, 01/31/2012 - 16:33 | 2113978 Raymond K Hessel
Raymond K Hessel's picture

Who controls the Senate, tardo?

Tue, 01/31/2012 - 17:37 | 2114314 GeorgeHayduke
GeorgeHayduke's picture

Can't give up the old paradigm of hate can you? It's takes a bill getting through both houses, included the Republican controlled one.

Cognitive dissonance is required to maintain your mindset. Enjoy it.

Tue, 01/31/2012 - 17:55 | 2114373 GeorgeHayduke
GeorgeHayduke's picture

Okay, okay, I looked it up and here's the actual senate votes for the NDAA:

Dems: 48

Repubs: 44

Independent: 1

Yep, The fact that the Senate had a Dem majority was surely decisive in the passage of this bill....but only in small mind of a conservative ideologue. Stick to name calling and meaningless debates over minutia. The larger picture is beyond your scope at this point in time.

Tue, 01/31/2012 - 21:47 | 2115129 Raymond K Hessel
Raymond K Hessel's picture

So, facts are inconvenient truths for you?

Dems are using their majority as if they have 100% of the seats.  It's not an illusion.

Apparently, you're a liberal idealogue but it's okay for you to name call but not other people.....  is this Newt Gingrinch? 

Tue, 01/31/2012 - 14:49 | 2113534 krispkritter
krispkritter's picture

I think they named that all wrong. It should be NADA, as in Bill of Rights? NADA.  Freedoms? NADA. Etc.  

Tue, 01/31/2012 - 14:57 | 2113563 roadhazard
roadhazard's picture

193 repubicans voted for it.  Thank you Soo much, "patriots".


The terrorists are us and they have won.

Tue, 01/31/2012 - 16:36 | 2114003 Raymond K Hessel
Raymond K Hessel's picture


Cass Sunstein alert.  

Fact, no bill gets passed by Congress unless Sen Reid and the Democrat controlled Senate votes to pass it.

Fact, no bill becomes a law until the President signs it or the Congress vote to override his veto.

Conjecture, these douchebag forum trolls are working for Cass Sunstein.

Tue, 01/31/2012 - 14:21 | 2113444 SomethingWicked
SomethingWicked's picture

We wouldn't hate McCain as much; we would hate him vastly more.

It was the reconciliation of the Libertarians that Obama would at least close GitMo and cease a war or two.  We underestimated just how little difference Obama VS McCain would make.

Vastly underestimated.

Think Mitt or Newt will be significantly different than Obama?  Think again. . . Think hard.

Tue, 01/31/2012 - 14:47 | 2113526 GeorgeHayduke
GeorgeHayduke's picture

You are right about underestimating Obama. I thought nothing could be worse than Bush, except possibly McCain and that dingbat Palin. But, it didn't matter, we still got Bush's 3rd term anyway, even with all of the promised change.

It goes back to my premise that ALL president are there to serve the interest of the entrenched elites. End of story.

Tue, 01/31/2012 - 15:08 | 2113580 boiltherich
boiltherich's picture

You know the guy is bad when even a gay liberal democrat (former democrat) like me did not and will not vote for the guy, when someone like me says something along the lines of "I never thought they would elect someone that would make me miss George BushCo."  But then the very first thing O'bummer did when he was sworn in was throw gay people under the bus, the bus we rode in the back of under republican rule. 

Why all the vitriol?  Because he does do what the others have done but then we expected that from others, we were promised a bill of goods and got less than zero, it is the hypocrisy that calls for the heaping of such scorn.  The sheer betrayal.  But then he was never a politician, he was a religion which you could either believe in or go away tagged as the racist they said you were.  Did not, will not vote for him, and on my list of worst to best presidents he has the new top spot replacing Jimmy Carter and Ronald Reagan who are now tied for second worst in our history.

Tue, 01/31/2012 - 16:00 | 2113782 trav7777
trav7777's picture

get back in the fuckin closet

Tue, 01/31/2012 - 19:39 | 2114743 boiltherich
boiltherich's picture

With your fat ass in there?  Not a chance motherfucker!

Wed, 02/01/2012 - 01:46 | 2115602 boiltherich
boiltherich's picture

By the way, why did you not say "get back in the closet you fucking nigger?"  That was what you were thinking right?  Oh I do hope you have delectable young sons I can convert to gayness, and it sure as hell beats your ILK trying to recruit people into the cult life you have planned for them.  Be FRUITful and multiply so that the Fed can steal everything you ever make.  And for those that refuse to abide by the laws of the Fed and the treasury here is a special treat, we will make it illegal for you to cum, have an orgasm, enjoy being attracted to your life mate, and the best part is we can make religion take the fall for it!

Your life sucks, I can tell.  People with good lives do not say things like get back into the closet faggot.  And I am really sorry that your life sucks so bad you have to hate people you never met, but as long as you do all I can say is bitch you ain't going to make it when the shit comes down, because you are filth that nobody will put up with!  Lick my man cunt Trav, or no don't, you already stink worse and would pollute my crotch.

Tue, 01/31/2012 - 14:35 | 2113487 lasvegaspersona
lasvegaspersona's picture


when the guy in the oval office tries to take the credit he automatically gets the blame. If he wasn't claiming he created 22 million strike that 3 million jobs then he might get some slack for the other bad stuff that was clearly an overhang from the (wonderful) Bush years. It is clear that either he or the next president will preside over something pretty spectacular (-ly bad). If Ron Paul himself were would still happen. In my opinion this would be a great time to start to share both credit and blame because whoever tries to sound like they are in charge may find that a dangerous place to be very soon.

Tue, 01/31/2012 - 15:21 | 2113650 dirtbagger
dirtbagger's picture

I fault Obama big time on 2 issues -

1) The US financial system is completely disfunctional.  He had the opportunity to begin reigning in the banks early in his administration.  He could have brought a guy like Black on board and established a RTC or similar organization.  Instead he brought in the Clinton economic retreads with more of the extend - pretend economic policy. 

2) Obama's health debate/bill was a big dog and pony show.  Backroom deals had been made far in advance with big pharmaceuticals and the health insurance industry.  There was never going to be a single payer/public option, allowance of drug reimportation, or reform of the trillion dollar give away to Drug Companies in Part D Medicare.   His insincerity and duplicity during the Health Care Debate told you everything one needed to know about Obama.

Maybe we are all naive.  Perhaps the first briefing the President receives is with the CIA, NSA, and FBI.  A room full of middle aged men all in navy blue suits, red ties, and flag pins on the lapels.  With background music blaring, they quietly whisper in the Presidents ear -  don't rock the boat - remember what happened to JFK.

Tue, 01/31/2012 - 14:41 | 2113499 GeorgeHayduke
GeorgeHayduke's picture

Dead on post dirtbagger.

The #1 job of any president in office is to maintain the wealth, power and influence of the wealthy, powerful and influential. That description also covers jobs #2 to #10,000. After that, the sheep might get a bone or two thrown their way, but never, ever, NEVER at the expense, in any way, to the wealthy, powerful and influential.

I've tried to explain this to people, but they insist on sticking to their red/blue mentality because it's easier to hate than to learn things that are contrary to your own biases and prejudices. Obama has been Bush's 3rd term. I can't understand why anyone who supported Bush would now hate Obama. Policy-wise, he's the same old, same old.

Tue, 01/31/2012 - 15:02 | 2113578 Hobbleknee
Hobbleknee's picture

Yes, I would hate McCain that much.

Tue, 01/31/2012 - 16:03 | 2113796 Finite Supply
Finite Supply's picture

Its impossible to understand libery and the brutal perfection of true free markets and not hate Obama. If that's over your head, you shouldnt need anything more than this 1 simple reason to hate and fear him: Timmy Geithner.

Tue, 01/31/2012 - 16:08 | 2113827 Finite Supply
Finite Supply's picture

Ill add this is no different to GB or GWB... but you must marvel in awe at the rate at which the O-man has been able to eff things up... its so bad, part of me almost wants another 4 years to expedite the final collapse. At least we'll have a chance at a Randesque style reset at the end of it.

Tue, 01/31/2012 - 19:42 | 2114754 I should be working
I should be working's picture

The plebeians of our republic were fooled into believing it matters who lives at 1600 Pennsylvania ave. They are angry that they were fooled into thinking they have a chance, when clearly they do not.

Whoever occupies that esteemed office only does so via the largesse of big business contributions. The American people were In the denial stage of their Kubler-Ross cycle of grief. They are now in their anger phase.

Tue, 01/31/2012 - 20:11 | 2114824 Pants McPants
Pants McPants's picture

I think you need to read more and comment less.  MOST folks here - although that number has diminished over the last few months - understand the false choice that is the red/blue charade.....

Wed, 02/01/2012 - 01:41 | 2115596 Pizza man
Pizza man's picture

and last I looked he had 2 years of super majority in the senate and owned the house. He shoved O-care, Dudd-Frankenstein and huge spending down our throats all on party line. His party line. That's not biz as usual.

Sure, it's more of the same, by about 50X more.

Tue, 01/31/2012 - 15:22 | 2113652 Chuck Walla
Chuck Walla's picture

Dear Ratso,

Has ZH finally hit the board at Media Matters?  Will Georgi Soros go all pissy and direct his billions here to wipe it out?Go back to pulling the wings off flies, your anger is misplaced. Obama is the engineer of this debacle. So go curse the OMB, they let slip some truth recently.


Your pal,

Buck Farack

Tue, 01/31/2012 - 12:14 | 2112924 JPM Hater001
JPM Hater001's picture

Not America.  Just hope.

Tue, 01/31/2012 - 12:15 | 2112930 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What is America if not a concept?  I don't see America anywhere, do you?

Tue, 01/31/2012 - 12:17 | 2112938 mtomato2
mtomato2's picture

Thank you.

Tue, 01/31/2012 - 12:58 | 2113138 Bananamerican
Bananamerican's picture

"can't say something like Jon Corzine vaporized $1.2+ billion in client money (& remains free) now can we?"

I see Amerika

Tue, 01/31/2012 - 13:05 | 2113162 JPM Hater001
JPM Hater001's picture

Yes, America is a concept base on the idea that we are free to succees or fail.

All HOPE of that happening is vaporizing.  America is still here.


Tue, 01/31/2012 - 13:16 | 2113211 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hope is self defeating by definition.  I will gladly strip hope from the hearts and minds of men to show them what reality looks like.  It is only then, when faced with the real, that people can take action. 

Tue, 01/31/2012 - 13:41 | 2113307 A Lunatic
A Lunatic's picture

People hopelessly taking action..............epic, lol

Tue, 01/31/2012 - 16:40 | 2114030 Raymond K Hessel
Raymond K Hessel's picture

You're about as clear as mud.  But please don't quit your day job.  I love reading my fortune after Chinese takeout.  I'm a big fan of your work, Mr Fortune Cookie writer.

Wed, 02/01/2012 - 13:35 | 2116869 LooseLee
LooseLee's picture

So who has been free to fail 2007 - 2011? That idea does not apply to America (a.k.a. USA)

Tue, 01/31/2012 - 22:33 | 2115261 BLOTTO
BLOTTO's picture

Its the coming new Atlantis... dont worry...

good times - not

Tue, 01/31/2012 - 13:40 | 2113296 Silver Bug
Silver Bug's picture

The phony US economy continues!

Tue, 01/31/2012 - 15:45 | 2113724 mrdenis
mrdenis's picture

Former MF Global CEO Jon Corzine Is Selling His Waterfront Penthouse In Hoboken For $2.9 Million

Tue, 01/31/2012 - 19:40 | 2114748 Buck Johnson
Buck Johnson's picture

Ouor economy is a casino and a crooked one at that.

Tue, 01/31/2012 - 12:08 | 2112903 lolmao500
lolmao500's picture

Good. People need to stop going after jobs. Jobs are slavery.

When you have a job, you are too busy or tired to care about the government and the banks stealing everything.

Enough with jobs, go with political action!

Tue, 01/31/2012 - 12:34 | 2113017 VyseLegendaire
VyseLegendaire's picture

I'm more of a fan of 'System D' economics.  Screw politics AND jobs!

Tue, 01/31/2012 - 12:35 | 2113026 Uncle Remus
Uncle Remus's picture

Mmmmmmm - pretzel logic.

Tue, 01/31/2012 - 12:48 | 2113092 spekulatn
spekulatn's picture

"H.I., your young and you got your health, what  you want with a job?"



Tue, 01/31/2012 - 12:09 | 2112907 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Weed, vaporized!

Tue, 01/31/2012 - 12:25 | 2112980 Stoploss
Stoploss's picture

How come it's always the weed that gets vaporized? It's always the weed..

Tue, 01/31/2012 - 12:52 | 2113110 Vagabond
Vagabond's picture

Just got my Volcano last week...  Vaporization, the theme of 2012.

Tue, 01/31/2012 - 13:53 | 2113348 astoriajoe
astoriajoe's picture

Did everyone else get ads in the margin for the wispr by iolite?

I was wondering if I had done some non-work friendly searches or something, but it was just google being topical.


Tue, 01/31/2012 - 12:14 | 2112908 LaLiLuLeLo
LaLiLuLeLo's picture

vaporizing "green chutes" bitchez

Tue, 01/31/2012 - 12:09 | 2112909 achmachat
achmachat's picture


word of the year 2012

Tue, 01/31/2012 - 12:24 | 2112964 HD
HD's picture

Damn it. I was really hoping the word of the year was going to be "vadazzle" this year - it lost last year to "Hopium". Maybe 2013.

Tue, 01/31/2012 - 12:30 | 2112998 Dr. Engali
Dr. Engali's picture

I thought rehypothecate was the word of the year.

Tue, 01/31/2012 - 12:38 | 2113038 HD
HD's picture

That is far too complex a concept for most Americans to understand...and far too many syllables.

You something akin to "D'Oh!"

Tue, 01/31/2012 - 12:48 | 2113094 Dr. Engali
Dr. Engali's picture

That's funny.

Tue, 01/31/2012 - 12:40 | 2113042 VisualCSharp
VisualCSharp's picture


Tue, 01/31/2012 - 12:50 | 2113100 HD
HD's picture

I had to take amoxicillin for two weeks when I got that...

The value meal is not always a value.

Tue, 01/31/2012 - 14:20 | 2113442 GeezerGeek
GeezerGeek's picture

That sounds like a function that returns an imaginary number. As in, the value of my investment is now imaginary.

Tue, 01/31/2012 - 18:04 | 2113993 BlackholeDivestment
BlackholeDivestment's picture




  Good/Bad&Ugly Definition(s) of 2012 Global Economic System? Flu Virus: 


 GOOD            The Host Standing Fast Doing No Harm           ........................................................................................................                              

  BAD & Ugly                        Antichrist 

                                    Mark of the Beast


                                   Sin & Pain of Death

                                          A Lie/Liar 

                                     Rosemary's Baby   

                                          No Mercy            




                                        Murder Suicide

                                          Friendly Fire      

                                         Broken Trust


                                    BLACK DEATH/(r)HvPG


                                   BD(black hole divestment)

                                         Hypothicated Vapor                

                               (re)Hypothecated Vapor or (0)Hv

                                            Zero Interest 

                             Vaporized Principle As Gain(s)/VPAG


                            Joe Biden and Eric Holder Under NDAA


                              New World Order (Rule of Thumb)


                                 NWORT/Black Hole[AKA(BD)]

        Euphrates (municipal/SWF) Water (prophetic)/CDS&(global)Bond Market

...any soldier/zombie under any nations flag



...a 2012 Purchase, Sale or Trade/Murder Suicide

...a Federal Reserve Debt Note/currency

....Vampire Squid(s)[GS JPM Citi BAC etc...]

....Blank Check [AKA] (definition Not found or possible)

...The 2012 Global Mark to Market Reality active consumer/zombie or government employee committing murder suicide(AKA work/''labor'') on behalf of a; buyer seller trader murder suicide/Vampire Squid ...caught inside their own black hole, trying to escape judgment.

...a human number, that of a man.


Tue, 01/31/2012 - 12:55 | 2113126 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

'ere... vaping is so much easier on the lungs,

Tue, 01/31/2012 - 12:10 | 2112911 LawsofPhysics
LawsofPhysics's picture

Ah yes, vaporized right onto the books at JPM.  Like I said going into the year, bet on the devil you know.  Time to do something else with those profits, maybe more PSLV?  Same as it ever was.

Tue, 01/31/2012 - 12:13 | 2112921 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I havr a friend who works at JPM NYC.  He confirmed everything we think that happened with MF and JPM.  To be clear, he didn't give speciics but when I outlined what I thought he answered, "That could be the case" to each question.

Tue, 01/31/2012 - 12:30 | 2112995 LawsofPhysics
LawsofPhysics's picture

Careful, looks like the truth is getting junked today.  Who would have thought people on ZH would also hate the concept of winners and losers.  I thought this crowd actually believed in reality.  Oh well, just goes to show how effective that "there are no winners and losers" brainwashing is.

Fine, more profits for me, time to turn it into more purchasing power and real hard assets.

Tue, 01/31/2012 - 12:35 | 2113025 Dr. Engali
Dr. Engali's picture


"Who would have thought people on ZH would also hate the concept of winners and losers."

Even Zero Hedge has it's fools and trolls.


Tue, 01/31/2012 - 13:01 | 2113145 Bananamerican
Bananamerican's picture

...and JPM/Wall Street lurkers

(whoops, same thing)

Tue, 01/31/2012 - 14:29 | 2113470 11b40
11b40's picture

...and it seems ever more of them.

Tue, 01/31/2012 - 12:34 | 2113019 Bring the Gold
Bring the Gold's picture

Can you elaborate on that MLH? I've been (blessedly) out of the loop for the past few weeks. I know about MF global bankruptcy (robbery of client accounts) but not the specifics of what you are pointing to. Thanks in advance.

Tue, 01/31/2012 - 12:42 | 2113053 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

MF was going under and JPM demanded collateral from them.  They did not have any except their clients seperate accounts.  JPM said, 'Hand them over'.  When I went through the scenarios with my friend, he smiled nervously, and aknowledged that that could be the case.  It is obvious that this is what happened from the ouside, but it was interesting that the brokers at the firm were very aware too.

Tue, 01/31/2012 - 12:57 | 2113135 Vagabond
Vagabond's picture

If this person has knowledge of what happened and would rather protect JPM over a friend than this person either is not a very good friend, or doesn't know anything about what happened.

Tue, 01/31/2012 - 13:11 | 2113189 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I don't have any knowledge.  He did not give any specifics.  He just answered all of my questions the same way.  He insinuated I could be right.

And yes, maybe he doesn't know anything.

Tue, 01/31/2012 - 13:40 | 2113301 Bring the Gold
Bring the Gold's picture

Thanks for your response. Funny how when their is a smoking gun in finance, it's always a Central Bank, Goldman or JPM that's holding it when the lights are turned on...

Tue, 01/31/2012 - 12:47 | 2113068 Real Estate Geek
Real Estate Geek's picture

Isn’t freedom wonderful, John Jimi?

Since our erstwhile regulators are otherwise occupied with tranny porn, you’re free to post intriguingly inflammatory comments which, back in the unenlightened times when laws were enforced and crime was punished, would have gotten your ass served a subpoena.  Liberating, isn't it?

OK, everyone now, "God bless Amerika, land that I love . . . "

Tue, 01/31/2012 - 13:21 | 2113112 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Um, I have a friend, my friend works at JPM NYC, he is not in the department that would have handled the MF seperate accounts.  When I asked him, he was not specific, but answered my questions accordingly.

Besides, this is hearsay, and wouldn't stand up in court.  I would not be subpoenad.

Tue, 01/31/2012 - 13:38 | 2113289 Real Estate Geek
Real Estate Geek's picture

Understood, but if I was a regulator who actually cared about the $1.2 Billion, I'd want to know his/her name and I'd take it from there. Little fish lead to bigger ones.

But it's all good.  Like I said, this is hypothetical, and my comment certainly wasn't intended to imply culpability, direct knowledge, etc. 

Thanks for the reply. Have a good one.

Tue, 01/31/2012 - 13:40 | 2113304 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That's my point.  The regulators could but have not asked brokers and economists at the firm questions that could lead to bigger fish.  They have not.

Tue, 01/31/2012 - 23:32 | 2115419 mjcOH1
mjcOH1's picture

If you already know the answer, asking the question is rhetorical.

Tue, 01/31/2012 - 14:22 | 2113447 LasVegasDave
LasVegasDave's picture

Yeah Im sure the Asst. U.S. Attorney for Southern NY is preparing a subpeona for you right now.

Better hide your junk silver while you're at it.

Go smoke a bowl, dipshit.

Tue, 01/31/2012 - 15:40 | 2113710 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dave, you need to work on your critical thinking skills.

Tue, 01/31/2012 - 18:12 | 2114456 4horse
4horse's picture

u would not be a subpenii . . . if, as in this very specific case, u did anything other than talk/type Big

Tue, 01/31/2012 - 14:36 | 2113491 11b40
11b40's picture

He does not have to worry.  A subpoena would invite questions, which invite a response, which require evidence, which might lead to an investigation, which might be messy and/or embarrassing for the wrong people, which also might reduce future employment opportunities for the one issuing the subpoena....and who wants to go through all of that?

Tue, 01/31/2012 - 13:10 | 2113186 Meremortal
Meremortal's picture

"...when I outlined what I thought he answered, "That could be the case" to each question."

That's exactly how I would answer someone I thought was a nut too.

Tue, 01/31/2012 - 13:14 | 2113202 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He had first hand knowledge of what happened with MF in relation to JPM, but he would only say "That could be the case" when I asked him about specifics.  Did he have answers?  WNo, he doesn't work in the department that would have handled the exchange.  Does he know people that would have handled it?  Probably.

I am not trying to start anything, I was just commenting that it appears that people that work for the firm may know more than they let on to. 

You guys need to calm your shit.

Tue, 01/31/2012 - 18:40 | 2114548 4horse
4horse's picture

Funny how when their is a smoking gun in finance, it's always

I don't have any knowledge

I was just commenting

Besides, this is hearsay

and wouldn't stand up in court

I was just commenting

The regulators could but have not asked

questions that could lead to bigger fish.  They have not.

I am not trying to start anything

I was just commenting


. . . He does not have to worry.  A subpoena would invite questions, which invite a response, which require evidence, which might lead to an investigation, which might be messy and/or embarrassing for . . . people like craven little jimi rockstar





he's just commenting 

Tue, 01/31/2012 - 14:01 | 2113368 LasVegasDave
LasVegasDave's picture


Deep breath.



Tue, 01/31/2012 - 14:38 | 2113498 Raging Debate
Raging Debate's picture

To be or not to be agitated, that is the question. Agitation gets an American a couple of weeks stay at a special wing in the hospital. Tell your family you'll see the pyschiatrist immediately, offer cash to accelerate the appointment and get a script for Xanax. Alternative is a couple of weeks at the hospital for agitation. It's coming and your family will be only trying to help of course. They're only bummed when they see the $7k bill which would have been the vacation and Christmas money combined.

Tue, 01/31/2012 - 12:10 | 2112912 HelluvaEngineer
HelluvaEngineer's picture

You forgot Iran, soon to be vaporized

Tue, 01/31/2012 - 12:15 | 2112934 lolmao500
lolmao500's picture


U.S. intelligence agencies believe that Iran is prepared to launch terrorist attacks inside the United States in response to perceived threats from America and its allies, the U.S. spy chief said Tuesday.

That plot “shows that some Iranian officials — probably including Supreme Leader Ali Khamenei — have changed their calculus and are now more willing to conduct an attack in the United States in response to real or perceived U.S. actions that threaten the regime,”

Tue, 01/31/2012 - 12:32 | 2113002 Peter Pan
Peter Pan's picture

The small chance that Iran would seek retribution for an attack on Iran by staging a terrorist attack inside US borders, is probably smaller than the possibility of certain US agencies staging phoney attacks inside the USA so as to justify whatever it is they are planning in relation to Iran.

We are living in a sick world with too many twisted and overlapping agendas that will keep colliding and in the process they will deny this world of opportunities for economic and spiritual recovery.


Tue, 01/31/2012 - 12:34 | 2113013 sushi
sushi's picture

The Iranians are also conducting computer attacks. They have penetrated the BLS and are manipulating the labour market data to give the impression of an economic recovery. America will overextend itself with hopium and then the Iranians will reveal the true figures and the markets will crash.

Tue, 01/31/2012 - 12:51 | 2113101 CrashisOptimistic
CrashisOptimistic's picture

The US is in decline.  Iran has no reason to interfere with that decline.

Iran's major problem is they have been pumping oil out of their fields for 60 years and their production is a few decades past its peak.  

It is that which they must address.  The US's decline is taking care of itself. 

Tue, 01/31/2012 - 13:22 | 2113230 Matt
Matt's picture

That is EXACTLY what they state they are trying to do - build nuclear reactors and their own enrichment, so they can produce electricity as the oil declines.

Whether that is true or not, IDK. Either way, America seems intent on interfering with their plans.

Tue, 01/31/2012 - 12:17 | 2112940 Dr. Engali
Dr. Engali's picture

A war with Iran will be the deathnell of the empire.

Tue, 01/31/2012 - 12:21 | 2112954 lolmao500
lolmao500's picture

And that is the goal.

To achieve world government, you need the destruction of borders and nations.

Tue, 01/31/2012 - 12:28 | 2112993 Dr. Engali
Dr. Engali's picture

I'm not saying that I disagree, but I have trouble reconciling China in that equation.

Tue, 01/31/2012 - 13:11 | 2113191 lolmao500
lolmao500's picture

China is part of the plan. They are the model of the future world society. One child policy. Slavery to corporations. Police state. One party. Centralized economy. Etc...

Tue, 01/31/2012 - 13:14 | 2113200 Dr. Engali
Dr. Engali's picture

Yeah I get that part. What I don't get is their sovereignty issue. I don't see them giving it up.

Tue, 01/31/2012 - 12:29 | 2112994 Gringo Viejo
Gringo Viejo's picture

I'm not sure a war is necessary. China and India have both decided to continue purchasing Iranian oil with their own currencies. This certainly puts a dent in the petro-dollar recycling scam. Not a knockout blow but certainly a knockdown.

Tue, 01/31/2012 - 12:40 | 2113044 Sofa King
Sofa King's picture

We haven't fought a real war since WW2.  All wars that have followed have been drawn out bullshit occupations to keep the Military Industrial Complex fed.  An attack on American soil, in which Iran takes credit for,  will result in an actual war with the result being a swift and decisive decimation of the population of that country.  At which point, we will Annex the country formally known as Iran and rape the land for our benifit. 

The world has label us an Empire.  God help them when we start acting like one.

Tue, 01/31/2012 - 12:51 | 2113104 Dr. Engali
Dr. Engali's picture


"An attack on American soil, in which Iran takes credit for"


An "attack" couldn't possibly be a false flag to give the empire a reason to invade Iran. By the way I believe that China may have some input on this. And our reliance on technology is proving to be our achilles heal.

Wed, 02/01/2012 - 03:33 | 2115681 SilverRhino
SilverRhino's picture

The world has label us an Empire. God help them when we start acting like one.

Well said.  The day the USA removes the velvet from the iron gauntlet and starts truly acting like an imperial power will be a dark one.

All it would take to drive them to their knees .... blockade the Arabian Sea / Persian Gulf, close the Straits of Malacca, and the Suez Canal and the world would be in deep shit.


Tue, 01/31/2012 - 21:21 | 2115043 DosZap
DosZap's picture

Dr. Engali

 war with Iran will be the deathnell of the empire.

Yes it will..................alas Persia has been around many years.

The LAST thing they want to do is openly attack  the US on its soil.(and openly admit it)

Conventional weapons would be the second resort on their major infrastructures.

China and Russia may be their allies,but of it comes to a full blown drop kick, they will sit it out. They have NO choice.


Dr. I may be off, but I think you meant the US as an Empire?, if so..........there is nothing so deadly as a wounded animal.


Tue, 01/31/2012 - 13:39 | 2113292 resurger
resurger's picture

How can you attack other nations when America is Broke!

The GCC guys are broke too..

They have already embarked the Ark, leaving this world in its current mess

Tue, 01/31/2012 - 14:43 | 2113507 11b40
11b40's picture

As long as H-P is making printers, America will not be broke.  There will be plenty of money.  You may only be able to spend it within the borders, but there will be dollars.  Tons of dollars.

Tue, 01/31/2012 - 12:12 | 2112917 Cdad
Cdad's picture

Pfffft....again, that is just Average Joe's job.  Com'mon...who cares?  Netflix share price is all that matters.  Paper wealth at JP Morgan is far, far more important than the actual economy.  You go, J. Dimon!

Tue, 01/31/2012 - 12:18 | 2112941 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Golden cross, vaporized!

Tue, 01/31/2012 - 12:12 | 2112918 Dr. Engali
Dr. Engali's picture

That's okay. When people  stop looking for jobs they cease their existance as far as the government is concerned helping our unemployment numbers look good. Then everybody is happy. Government is happy , the press is happy, the remaining working populous is happy, and most imporantly the robots are happy. We don't need to worry about all those no name faces and families. They don't exist.

Tue, 01/31/2012 - 13:59 | 2113362 espirit
espirit's picture

But the kicker is that the long term unemployed don't pay taxes either.

Loss of revenue is a bitch.

Tue, 01/31/2012 - 14:07 | 2113391 viahj
viahj's picture

We don't need to worry about all those no name faces and families. They don't exist.


SNAP participation rates increasing and long lines at the free clinics won't be  2nd or 3rd tier stats for long and will be the headline measurement on the nightly news (as the unemployment stat is now) because reality has a unique way of imposing itself upon the masses (usually when it's all too late to do anything about it).


Tue, 01/31/2012 - 14:47 | 2113523 11b40
11b40's picture

We don't have to worry until enough people can't pay their cable TV, Cell phone, and Internet bills.  Once critical mass is reched in those categories, all hell breaks out in the streets.....probably about August.

Tue, 01/31/2012 - 12:14 | 2112925 tony bonn
tony bonn's picture

"...can't say something like Jon Corzine vaporized $1.2+ billion in client money now can we..."

yes we can! the crooked, indictable, convictable jon corzine, bernie madoff hall of shame inductee, vaporized 1.2b into his or other banksters' bank accounts, paper bags, or bras....

Tue, 01/31/2012 - 12:37 | 2113031 The Limerick King
The Limerick King's picture



Has anyone seen John Corzine?

Post hearings there's not been a sign

Perhaps on a cruise

Or wasted on booze

Awaiting his pre-approved fine

Tue, 01/31/2012 - 12:52 | 2113111 tekhneek
tekhneek's picture

Written gold TLK, written gold.

Tue, 01/31/2012 - 13:47 | 2113326 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You're right.  He is getting the fuck outta Dodge.  He just put his NJ penthouse up for sale.

Tue, 01/31/2012 - 12:14 | 2112926 death_to_fed_tyranny
death_to_fed_tyranny's picture

Washington DC should be "vaporised"!

Tue, 01/31/2012 - 12:22 | 2112958 bank guy in Brussels
bank guy in Brussels's picture

And good of you to use the proper standard English with the 's' instead of the 'z'. - 'Vaporised.'

America delenda est. - America's regime should be destroyed, and the liberty-loving people among those who are there now, should live in freedom in the new state-nations that arise afterwards.

Tue, 01/31/2012 - 13:49 | 2113330 vato poco
vato poco's picture

What a lovely pompous speech there, bank guy. Of course, a screed extolling the virtues of "liberty" and "freedom" loses somewhat its punch when you consider where its coming from: Brussels. Home of the almighty EU bureaucrat state. Where they keep holding "Join the EU!" elections until they get the desired results, upon which all future elections are cancelled. etc etc

Rather like listening to Obama extolling the virtues of small government: is it surreal? Or just a standard-issue cynical lie?

Tue, 01/31/2012 - 15:19 | 2113642 roadhazard
roadhazard's picture

The problem in Amerika is going to be, WHO is a patriot. So far if you ain't a right winger you are a RINO, commie, dirty hippie, terrorist, Muslim wannabe, OW$ motherfucker. Neo-Con redneck Jesus freaks need a dose of the double tap.

Tue, 01/31/2012 - 12:15 | 2112929 mantrid
mantrid's picture

we could see three or four hundred thousand jobs vanish


no worry, they'll reincarnate within FEMA camps soon.

Tue, 01/31/2012 - 12:24 | 2112970 Captain Kink
Captain Kink's picture

So, were these jobs initially "created" under this administration?  jobs that would have otherwise been lost? saved? and now vaporized?  Were the employed people real? were they also vaporized and therefore do not appear in the workforce participation number? does that mean they disappeared?  never existed? Obama will spin it, let us know what to think... 

Tue, 01/31/2012 - 12:15 | 2112931 Peter K
Peter K's picture

On the first Tuesday of this Novermber, the Obamadisaster will vaporize:) And good riddance:)

Tue, 01/31/2012 - 12:15 | 2112932 Zola
Zola's picture

Why is nobody suing the BLS for market manipulation ?

Tue, 01/31/2012 - 12:35 | 2113022 bank guy in Brussels
bank guy in Brussels's picture

Because many people have figured out that the US courts are even more rigged and corrupt than the BLS, or any other US government agency. People are wasting less money on court filings that go nowhere.

If US courts had legitimacy, or honoured the US Constitution and Bill of Rights, 90 % of the criminal sh*t that goes on in America's establishment would have been stopped a long time ago.

The US oligarchs' first step, decades previously, was to purchase and start controlling the US courts (judges bribed via the US big law firms) and US corporate media (just plain buy them).

Voilà - the pre-conditions for MF Global fraud, bankster control, asset seizures, torture, mass imprisonment, and everything else that goes on in the USA.

Dissident minorities - ZeroHedge readers, etc. - are on the 'list' to be dealt with later.

Tue, 01/31/2012 - 15:11 | 2113611 MachoMan
MachoMan's picture

or because they don't have a cause of action...  or likelihood of finding deep pockets...

(ask yourself, are there cases against MF Global?  TBTF?  mortgage securitizers and sellers?...  if there's money in it, then you'll get some contingency sharks).

Tue, 01/31/2012 - 12:16 | 2112936 bill1102inf
bill1102inf's picture

love the 'Got Vape' ads on this page

Tue, 01/31/2012 - 13:04 | 2113160 Ignatius J Reilly
Ignatius J Reilly's picture

I don't even know what it is.  I thought it was a SNL-like satiricle commercial.

Tue, 01/31/2012 - 12:17 | 2112939 Peter Pan
Peter Pan's picture

Millions of jobs have already vaporised. Millions more have also metamorphosized as we saw high paying manufacturing jobs being converted into hamburger flippers as just one example. And virtually most private sector jobs have suffered through miserley increases that have not kept up with the true rate of consumer inflation. And let us not forget the diminishing labour participation rate and the strangled definitions of unemployment compared to what those definitions were in decades gone past.

They can engineer any figures they like. They can engineer all sorts of market manipulations. But they cannot engineer real jobs given their current policies.

Tue, 01/31/2012 - 13:35 | 2113274 resurger
resurger's picture

Bloomberg were not saying that!

Tue, 01/31/2012 - 13:53 | 2113346 BeerBrewer09
BeerBrewer09's picture

40 people layed off here last week. Thinning the herd.

Tue, 01/31/2012 - 12:21 | 2112950 overmedicatedun...
overmedicatedundersexed's picture

I see green shoots everywhere: over the decomposing bodies of the thousands of BK and soon to be BK (sears) businesses that hit the air pocket this past year. used to be called daiseys as in pushing up.

obuma to us small business" youll be a daisey if you do" tip of the hat to doc holiday

Tue, 01/31/2012 - 12:34 | 2113018 smlaz
smlaz's picture

"Soylent Green is made out of people!!!"

Do NOT follow this link or you will be banned from the site!