Art Cashin Talks Market Dramamine

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Wed, 12/07/2011 - 10:50 | 1954663 John Law Lives
John Law Lives's picture

Wow.  Nearly 46.3 million Americans are on Food Stamps (as of the latest data through September, 2011). This is a nearly 1% increase over August, 2011.  That total is approximately 15% of the ENTIRE US POPULATION.

Pumping the stock market obviously isn't helping these folks too much.

100% FUBAR.


Wed, 12/07/2011 - 10:51 | 1954680 DormRoom
DormRoom's picture

there is no stock market.  there is one big global casino.  why would anyone want to invest in a rigged casino.

Wed, 12/07/2011 - 10:53 | 1954693 John Law Lives
John Law Lives's picture

The stock market is rigged.  It is rigged in favor of the house.  Pumping the market makes the house richer.  It is amazing how far the elite will go to enrich themselves whilst many go hungry.

Wed, 12/07/2011 - 11:01 | 1954731 Jay Gould Esq.
Jay Gould Esq.'s picture

"Whew ? Got any Dramamine ?"


"Wall Street's 18-Point Plan to Demoralize and Dispossess the Individual Investor."


Wed, 12/07/2011 - 11:16 | 1954794 slewie the pi-rat
slewie the pi-rat's picture


riddle me this, esq:  if glowbal growth is flat-lined (if we're lucky) where tf will the corporat-0-crats get "earnings"?

  • churning the markets
  • lying about them

much as i hate to compliment tyler, he's been all over both of these (telling people to buy inexpensive straddles comes to mind) which is amazing considering his own intake of fer-mented hydrocarbonz

Wed, 12/07/2011 - 11:13 | 1954782 Chuck Walla
Chuck Walla's picture

Someone else's hunger is not the elites problem.  They got private islands if that gets to be too nasty.  Getting good help that doesn't steal too much from them is the problem.  Now, with an ever expanding pool of servants and slaves to choose from, cook had better really toe the line.

Wed, 12/07/2011 - 11:50 | 1954890 topcallingtroll
topcallingtroll's picture

There is no real hunger in this country. When I see fat, stick limbed babies then I will agree there is real hunger.

Lazy ass americans can rake fucking leaves and do servant work. It is better than being a parasite. I pay all my servants 15 an hour. You dont starve on that. Fuckin GD parasites need to work.

There...I feel better now.

Wed, 12/07/2011 - 15:06 | 1955665 Henry Hub
Henry Hub's picture

Hey $15 an hour! Can I get a job raking your fucking leaves?
I would want to keep the leaves to heat the packing crate I live in under the bridge.

Wed, 12/07/2011 - 11:03 | 1954741 Comay Mierda
Comay Mierda's picture

wait until the mathematically 100% certain event of US default and food stamps dont go out.


Wed, 12/07/2011 - 11:27 | 1954825 InconvenientCou...
InconvenientCounterParty's picture

You might be waiting a long time for that outcome.

SNAP is an excellent investment of a sovereign nation's printed money. So good in fact, you might see medical stamps, housing stamps and fuel stamps.

All it would take is breaking the petrodollar. That's it.

Wed, 12/07/2011 - 11:54 | 1954905 topcallingtroll
topcallingtroll's picture

Sadly true.

But in the long term that kind of nation and those people will never amount to anything.

How sad. We Americans used to be a proud self reliant people. Now half the popylation wants to live off the other half and feels no shame in it.

Wed, 12/07/2011 - 12:21 | 1955018 Flakmeister
Flakmeister's picture

Well, the concensus here at the Hedge is that we are currently in a "Depression".... last time I checked the G.D. had no food stamp program but the soup kitchens were doing a thriving business....

Maybe we should get rid of SNAP and have Goldman Sachs sponser soup kitchens instead? Whaddya think? It would make good on their claim that they are doing God's work...

Wed, 12/07/2011 - 11:05 | 1954752 TruthInSunshine
TruthInSunshine's picture

46 million+ on foodstamps, and 50% of Americans receiving some form of direct government transfer payment at least once a month (Social Security, SNAP, Medicare/Medicaid, Section 8/HUD Housing Payments, SSI, Aid to Families With Dependent Children, Heating/Utility assistance, agricultural subsidies, etc. etc. etc.).

I'd bet money it's actually higher than 50% receiving federal and/or state direct assistance.

But Rome wasn't built in a day!

Panem et circenses.

Wed, 12/07/2011 - 11:12 | 1954773 DeltaDawn
DeltaDawn's picture

Don't forget the prison population, they need to eat too!

Wed, 12/07/2011 - 11:17 | 1954796 Hohum
Hohum's picture

Not "Aid to Families With Dependent Children."  TANF (Temporary Aid to Needy Families) to be precise ;)

Wed, 12/07/2011 - 11:49 | 1954882 TruthInSunshine
TruthInSunshine's picture


Just to clarify, I have absolutely zero problem with endorsing a system that prides itself on giving people, and especially children caught in unfortunate circumstances, a backstop against abject poverty.

The system we have, however, is a perverted one that was created by a medley of special interests (government agencies, JPM and other banksters, the agri-lobby which colluded with Democrats as it was enriched by the foodstamp program, etc., etc.) that literally has created what are now 4th generation welfare recipients, who know no other existence other than a government check in the mail monthly (as did their parents, grandparents and great-grandparents; this is common in urban poor areas).

Both taxpayers and these welfare-dependent individuals are compromised and penalized (taxpayers get hit financially, while the welfare recipients get a fish each day, but never learn to fish), while the special interests profit off of this dubious transaction.

*Technically, SSI & Social Security are not welfare, in the purest sense of the word, although varying interpretations of what they are does exist.

Wed, 12/07/2011 - 11:58 | 1954926 topcallingtroll
topcallingtroll's picture

If you receive more from the government than you put in that qualifies as welfare in my book.

Therefore SSI is definitely welfare, as are most social security and medicare recipients. Paid for by the rest of us and we will never see ours.

Wed, 12/07/2011 - 16:17 | 1955915 Nels
Nels's picture

If you receive more from the government than you put in that qualifies as welfare in my book.

Considering the time value of money, everyone should expect to get more out of SS than they put in.  And that's not even counting the idea of it being a survivors plan, in that the money from those that don't live long enough to collect sweetens the pot for those who do.

Some do indeed pull out more than they put in, even counting the time value of money and suvivorship bonus.  That is always what happens with a government program intended primarily to buy votes.  The government will never be competent actuarially, it doesn't pay off in votes.

I agree with the solution, the government should not be in the business, but am just saying that your complaint was too broad.

Wed, 12/07/2011 - 11:51 | 1954894 srsly-wtf
srsly-wtf's picture

Once a nation has 51% of its citizens (voters) on government assistance, it is GAME OVER for the rest of us.  The Titanic (USA) is going to sink, nothing can be done now.

Wed, 12/07/2011 - 11:32 | 1954833 Waterfallsparkles
Waterfallsparkles's picture


What is really upsetting about this number is what it takes to qualify.  The lack of any assets and below Poverty level income.

Wed, 12/07/2011 - 11:40 | 1954850 Waterfallsparkles
Waterfallsparkles's picture

Watch this video.  Woman says someone need to take care of my 15 children.  I got 15 kids, 3 daddys and someone got to pay. 

What ever happened to personal responsibility?

Wed, 12/07/2011 - 11:53 | 1954901 srsly-wtf
srsly-wtf's picture

Where do I sign up?  I lost it all betting against Benny and the Inkjets....

Wed, 12/07/2011 - 11:19 | 1954804 gbresnahan
gbresnahan's picture

And they estimate there are 10-15 million immigrants in the country illegally. Just saying.

Wed, 12/07/2011 - 10:53 | 1954695 Rip van Wrinkle
Rip van Wrinkle's picture

I know. 15% of the population unable to afford to feed themselves. 8.6% unemployed.


Obama's a genius. With unemployment falling and the labour force reducing, the US is getting to the point where no one works and there's no unemployment. I tell ya, he's an f'ing genius.

Wed, 12/07/2011 - 10:56 | 1954707 John Law Lives
John Law Lives's picture

The 8.6% figure is a crock of shite.  No informed person believes that.  Sadly, that fabricated number may drop... and Obumble will crow about it.  Keep the vomit bag close at all times when Obumble gets in front of a teleprompter to crow about creating jobs.

Wed, 12/07/2011 - 11:30 | 1954820 TruthInSunshine
TruthInSunshine's picture

Two trains, 100 miles apart, leave their respective stations at the same time, with one train (Amtrak) traveling at an average speed of 18.7 mph (due to repeated breakdowns and a top speed of 44 mph) and the other train (imported Japanese bullet train) traveling at an average speed of 155 mph.

One train is carrying 60% of the labor force aged, able bodied population that is either currently employed/underemployed, or if not presently so, choosing to seek work.

The other train is carrying the other 40% of the labor force aged, able bodies population that is unemployed and can't even find underemployment (and/or who have exhausted unemployment benefits), and has chosen to discontinue seeking work (with some doing so after barely trying, while others having done so after sending out 83.000 resumes and expending $64,000 on travel expenses attending interviews, unsuccessfully).

Of the 60% of the population on the one train that are either employed/underemployed or seeking work, precisely 8.6% of this group is not officially employed currently and is seeking employment (and they also haven't yet exhausted unemployment benefits).

What is the official, government stated rate of unemployment?

*This is not a trick question.

Wed, 12/07/2011 - 11:59 | 1954929 slackrabbit
slackrabbit's picture

It doesn't matter because both trains are Taggart Transcontinental, the signal system is broke and the track hasn't been fixed in years.... 

Wed, 12/07/2011 - 12:00 | 1954907 slackrabbit
slackrabbit's picture

Agree...but you'll need two.

One for past tence, one for future.....and only one for each end.

Wed, 12/07/2011 - 11:52 | 1954900 slackrabbit
slackrabbit's picture

He is; as was George W before him...and the congress.

However, it is also the beauty of 30 years of pesky pesky employment pesky tax payers......oh wait!.....

Like Kyles Bass says ' you dont get $6 toasters with out employment deflation as well......pity he's the only one speaking the truth.

Wed, 12/07/2011 - 12:15 | 1954993 jse111
jse111's picture

No offense but the more a person embraces partisan politics; the closer the individual’s I.Q. is to two digits!  This is a concept that the vast muddled mass class has great difficulty embracing to their detriment but give it a shot and wake the **** up!

Wed, 12/07/2011 - 10:59 | 1954719 TideFighter
TideFighter's picture

An old man in a nursing home was sitting in his wheelchair and leaning wayyyy over to the right. A nurse came by and said, "you poor man", and proceeding to place him upright in his chair. A few momemts later, the man leaned wayyyy over to the left and another nurse came by. She said, "You poor man", and placed him completely upright. A few moments later, the man was leaning completely forward on his legs. A third nurse said, "oh my" and strapped him upright to his chair. His daughter came by to visit and saw her father strapped to the chair and exclaimed, "what the hell is going on here???"


The old man replied, "They won't let me fart."


We just need to fart.

Wed, 12/07/2011 - 11:03 | 1954747 rubearish10
rubearish10's picture

Those stats look similar to my heart rate! TD, you had this covered recently about the 1234 S&P point moves since I think May?

Wed, 12/07/2011 - 11:21 | 1954809 Few
Few's picture

Kicking the can down the road and there is no road. Good luck finding the can to kick. At times I don't if I should laugh or cry.

Wed, 12/07/2011 - 11:50 | 1954886 banksterhater
banksterhater's picture

NOVEMBER 1998 S&P= 1248  suckahs

Wed, 12/07/2011 - 12:40 | 1955089 YesWeKahn
YesWeKahn's picture

All I know is that the market does this kind of thing when it tops.

Wed, 12/07/2011 - 13:35 | 1955366 Scalaris
Scalaris's picture

Kaltbaum's market description reminds me of the days I was an alcoholic.

Wed, 12/07/2011 - 16:48 | 1956083 malek
malek's picture

Did he accidentally read the blueprint for a rollercoaster?

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