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Biderman Beyond Baffled by B.O.'s Budget

Tyler Durden's picture




 

In his best Lewis Black impression, TrimTabs CEO Charles Biderman succinctly destroys the 'growth' myth behind Obama's budget plan as nothing but a handout and money-printing exercise in futility and drain-circling. Based on the $3.8tn budget plan, the TrimTabs truth-seeker notes that current government tax revenues are about $2.4tn, and growing at no more than $100bn each year, making the math surprisingly simple - we spend around $300bn per month and receive only $200bn with the missing $100bn to pay for the US government's largesse (income shortfall) coming from - 'printing money'. The spin is, of course, that revenues will somehow magically start to grow faster than spending and shrink the budget deficit. With take home pay at $6.3tn for everyone who pays taxes, up $300-400bn from the 2009 low, but still well below the $7.1tn rate from early 2008; Biderman's consternation at the self-hypnosis that a $200bn tax increase in an economy where take-home pay has been growing by only $100bn per year will somehow create anything other than slow-growth at best (or more likely contraction) is palpable. This slow- or no-growth will mean less tax revenue and more spending on safety-nets and thus the Sausalito-savant factually points out that most people do not realize that government spending is simply giving people money whether they do anything useful with it or not and still the governments of the US, Japan, and Europe want us to believe that our economies will grow faster if we keep taking more money from the workers and give that money to the government.

 

 

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Wed, 02/15/2012 - 21:39 | 2164363 LouisDega
LouisDega's picture

That is a funny face..  HeHe.  I didnt read the post. I dislike shills

Wed, 02/15/2012 - 21:47 | 2164395 The Watchman
The Watchman's picture

speaking of funny faces...

Wed, 02/15/2012 - 22:23 | 2164471 TruthInSunshine
TruthInSunshine's picture

Obligatory. Now drink.

 

"The fact that we're here today to debate raising America's debt limit is a sign of leadership failure. Leadership means 'The buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."

--Sen. Barack Obama, D-Ill.

  Senate Floor Speech

  2006

 

Bonus quote FTW. Drink again, bitchez:

 

"We're not going to monetize the debt," Mr. Bernanke declared flatly, stressing that Congress needs to start making plans to bring down the deficit to avoid such a dangerous dilemma for the Fed.

 

"It is very, very important for Congress and administration to come to some kind of program, some kind of plan that will credibly show how the United States government is going to bring itself back to a sustainable position."

 

--Benjamin S. Bernankinscam

February 25, 2010

Bernanke to Congress: You Are Going to Have to Cross That Fiscal Valley Yourself
Wed, 02/15/2012 - 22:28 | 2164524 Hedgetard55
Hedgetard55's picture

Truth,

 

     Thank goodness for you and Cdad, and another dozen or so posters here that make it worth the time to read comments here..

Wed, 02/15/2012 - 22:42 | 2164568 candyman
candyman's picture

CDAD, CDAD, CDAD..

Thu, 02/16/2012 - 13:09 | 2166223 GetZeeGold
GetZeeGold's picture

 

 

It's the Saul Alinsky budget....the final kill shot.

 

We then replace everything with the soothing sounds of marxism.

 

 

Wed, 02/15/2012 - 23:12 | 2164646 nmewn
nmewn's picture

Obligatory, because I'm now drunk and it still doesn't make any sense.

Here ya go...

...how bout if I send my OMB Director up to Capitol Hill to make the case to the Peoples representatives, that I (King Barak Insane O'Barry) am "now saying" that my fine...for not buying a health insurance policy from a...

>>>private company<<<

...is really just a tax (as my pre-med graduates are trying to argue before the SCOTUS and being laughed at)...because I also promised the People not to raise anyones taxes who makes under 250k...which this law, as passed, obviously does.

It's like some sort of twisted Saturday Night Live skit with the epileptic actors on crack...or sumpin ;-)

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/omb-director-undercuts-legal-case-obamacare/376561

Wed, 02/15/2012 - 23:20 | 2164663 Eally Ucked
Eally Ucked's picture

I'm drunk tooo, where ever I turn I see jewish experts, left, right whatever you want, you cannot escape it. QAnd I iknow you like it, I know you for few years already! Populist NMEWN! ha ha

 

Wed, 02/15/2012 - 23:41 | 2164721 Dr. Engali
Dr. Engali's picture

I just got home I'm too tired to get drunk. That will have to wait for another day.

Thu, 02/16/2012 - 00:23 | 2164857 pods
pods's picture

I can't get drunk, I have to craft my reply letter to the SS for when they force feed my kid some gruel because their bag lunch is not on the approved list.

pods

Thu, 02/16/2012 - 04:53 | 2165158 BorisTheBlade
BorisTheBlade's picture

It's almost as if official statements mean completely opposite of what they spell:

"We're going to monetize the debt," Mr. Bernanke declared subtly, stressing that Congress needs to start making plans to increase the deficit and facilitate this process for the Fed.

 "It is very, very important for Congress and administration to come to some kind of program, some kind of plan that will credibly hide how the United States government is going to bring itself forth to a unsustainable position."

Wed, 02/15/2012 - 22:09 | 2164472 Pladizow
Pladizow's picture

CTD - Circling The Drain!

Wed, 02/15/2012 - 22:17 | 2164494 Ponzi Unit
Ponzi Unit's picture

Biderman is the real deal, whereas you, Louis, are an ignorant fool.

Wed, 02/15/2012 - 22:20 | 2164504 Cabreado
Cabreado's picture

LouisDega,

The most helpful thing you could do is to consider yourself part of the problem.

Wed, 02/15/2012 - 21:41 | 2164367 fonzannoon
fonzannoon's picture

Anyone on here own anything Japan related? Is it a valid thought that if they are going to do QE and bring down the yen their market (which seems to be up every day) may run a long way?

Wed, 02/15/2012 - 21:57 | 2164425 knukles
knukles's picture

My next door neighbor is a very elderly retired very strict almost crazed German military type.  He wears lots of little leather drawstring bags of gold fillings on his belt and has a buncha Japanese girls in his basement.  Perhaps he can be of some assistance.

Wed, 02/15/2012 - 21:58 | 2164436 fonzannoon
fonzannoon's picture

It was not the direction I was going but we can talk offline. I'm interested.

Wed, 02/15/2012 - 23:26 | 2164681 Eally Ucked
Eally Ucked's picture

Ha,Ha, man you're very smart. What about newer history about ears and fingers, or dicks. And what about the whole basement of Vietmanese girls and for sure he can help you!

Wed, 02/15/2012 - 21:59 | 2164442 Popo
Popo's picture

Don't expect the yen to stay down. All previous attempts have failed, and the duration of their QE results is getting shorter and shorter.

Wed, 02/15/2012 - 22:03 | 2164459 UP Forester
UP Forester's picture

I own a few sieverts of Strontium, Uranium and Iodine-131 from Japan, and expect to acquire more, as they are becoming more accessible each time it snows....

Wed, 02/15/2012 - 22:03 | 2164460 UP Forester
UP Forester's picture

Damn double-taps....

Thu, 02/16/2012 - 00:21 | 2164850 pods
pods's picture

Better to have a double tap here when you needed a single tap, rather than the RL opposite?

pods

Thu, 02/16/2012 - 02:17 | 2165048 UP Forester
UP Forester's picture

True, but Accidental Discharges are annoying anytime.

RL, it means you've got a fucked up sear or gummed-up spring, and you're wasting ammo....

Wed, 02/15/2012 - 21:43 | 2164375 bob_dabolina
bob_dabolina's picture

Obama's budget is a demon

-Maxine Waters

Thu, 02/16/2012 - 00:16 | 2164836 EvlTheCat
EvlTheCat's picture

Pot meet Kettle

Fuck Maxine Waters

 

Thu, 02/16/2012 - 01:34 | 2164999 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Can I get a rain check?

Thu, 02/16/2012 - 02:13 | 2165044 Rogue Trooper
Rogue Trooper's picture

Yep she is one of the truly epic 'tards' and considering the company she keeps that's saying something.


Wishful thinking I know, but I have visions of a "French Revolution Thang", emerging.

 

Triggered by "They shall eat cake" statements from TPTB and then the Guillotine(s) get a real good work out.  I could finally get into reality TV if this was on, etc.

 

 

Thu, 02/16/2012 - 11:27 | 2165774 krispkritter
krispkritter's picture

I agree! But I ain't even touching her with Robo's pecker... Good Ole Marxine: http://www.youtube.com/watch?v=OrA9zj94NuU

Wed, 02/15/2012 - 21:44 | 2164379 adr
adr's picture

Hey, $14k a year on SS disability is better than working at 95% of available jobs. Also those people aren't going to save a dime, it'll all be spent. Since they won't need to worry about pesky cost of living bills, gov programs are there for that. I guess the Libtards are right, giving people mony for nothing is the best way to stimulate the economy, why does anyone need to work? Hell, all it takes is a little cash and five minutes to open an E-Trade account. Just invest in stocks and in a few years, you'll be a millionare. NO LABOR REQUIRED!!!

That is what we are being taught, right?

Wed, 02/15/2012 - 21:47 | 2164389 bob_dabolina
bob_dabolina's picture

I guess you want to get rid of the social safety net don't you? You just want dirty air, dirty water, and dirty undies for America.

You selfish pig

Wed, 02/15/2012 - 21:48 | 2164399 Corn1945
Corn1945's picture

Americans are going to need clean air and water.....because they'll all be living outside in tents!

Wed, 02/15/2012 - 21:58 | 2164439 knukles
knukles's picture

That 47 week paid vacation deal in Greece sounds better every day.

Wed, 02/15/2012 - 22:20 | 2164505 Hedgetard55
Hedgetard55's picture

Bob,

 

     You are either a troll or one dumb shit motherfucker.

Wed, 02/15/2012 - 22:40 | 2164563 bob_dabolina
bob_dabolina's picture

I was trollin' for gold with that one, I'm not gona' lie.

Thu, 02/16/2012 - 02:37 | 2165073 Joseph Jones
Joseph Jones's picture

Bob, you little devil! 

Wed, 02/15/2012 - 23:27 | 2164682 Archon7
Archon7's picture

-1

and if you don't take a bath, it'll be another -1

Thu, 02/16/2012 - 00:42 | 2164904 adr
adr's picture

Hell, grandma can come live in my house, she's a hell of a lot better cook than my wife. Besides when SS was forced on her, she wasn't supposed to live long enough to collect it. Social Security was a scam from the get go. They figured people would pay in for 40 years and maybe live 2-3 years after the benefits started going out. Back then nobody could have forseen the inflation we went through, or the increased lifespan. If the gov knew many people were going to live past 80 and $100k a year wouldn't be seen as rich, they would have come up with a different scam.

Thu, 02/16/2012 - 09:14 | 2165372 Calmyourself
Calmyourself's picture

And I want to kill women and deny them basic medical coverage and even inconvenience them  with babies and stuff.

Wed, 02/15/2012 - 21:50 | 2164404 uno
uno's picture

don't forget the free medicaid and other 'perks', compare to waking up early, taxes, health insurance, kids in daycare, clothing and car expenses for work, lunch etc...   Seems like 40,000 a year is the tradeoff where working pays off - maybe higher

Wed, 02/15/2012 - 22:02 | 2164453 CrashisOptimistic
CrashisOptimistic's picture

You missed a bit of the point of Cashin's article.

The 14K avg disability is where the Labor Participation Rate went, i.e., the 2% decline in LPR has a big chunk of it explained by an increase in disability folks.

For Biederman, that means his tax revenue modeling is wrong.  He likely models tax revenue by GDP and Unemployment.  BUT THE MODELS ARE NOW WRONG WITH LPR DOWN a full 2%.  Much less tax revenue is going to come in, and that 14K is a double smacko.  

It's both loss of tax revenue and a drawing out of money for benefits.

Wed, 02/15/2012 - 21:45 | 2164382 rsnoble
rsnoble's picture

Problem with Biderman is he thinks 2+2=jello.

Anyone ever see Black in concert? I have 3x. One time I had front row. Big fan. Even got to talk to him a bit. We're pretty much on the same page. Fuck 'em all.

Wed, 02/15/2012 - 21:46 | 2164387 uno
uno's picture

must not let silver stay above 34

Wed, 02/15/2012 - 21:54 | 2164418 disabledvet
disabledvet's picture

the best part of this story is "this is part in the movie where the Americans do something REALLY stupid." Otherwise known as "the best part!"

Wed, 02/15/2012 - 21:54 | 2164421 uno
uno's picture

charles, is that the same Dan Dorfman from CNBS days on your blog

http://trimtabs.com/blog/

 

Wed, 02/15/2012 - 21:56 | 2164422 Yen Cross
Yen Cross's picture

  He looks like Walter Matthau ( reincarnated). Is Jack Lemmon his camera man? He argues a good " dead horse" beating theory though. Long live the skyline behind him! Hear that ISRAEL?

Wed, 02/15/2012 - 22:06 | 2164423 TrulyBelieving
TrulyBelieving's picture

There's one word that makes sense of this budget, plunder.

Wed, 02/15/2012 - 23:25 | 2164679 Archon7
Archon7's picture

A few words that came to my mind...

fantasy

Orwell

Twilight Zone

 

Thu, 02/16/2012 - 00:26 | 2164863 pods
pods's picture

This budget is so top heavy that Guam might tip over!

pods

Thu, 02/16/2012 - 01:10 | 2164954 UP Forester
Wed, 02/15/2012 - 21:57 | 2164430 WillieNelsonListener
WillieNelsonListener's picture

Question for Investors on the Board  ---

WAIIX - Inflation Protection portfolio

The investment seeks maximum total return, consistent with preservation of capital. The fund invests at least 80% of net assets in inflation-indexed fixed income securities and at least 70% of net assets in U.S. Treasury Inflation Protected Securities. The range within which the dollar-weighted average effective duration of the fund is expected to fluctuate is 6–12 years, although this may vary. It is expected to maintain a dollar-weighted average credit quality of at least A/A.

Does this play in the PRINT PRINT PRINT - HUGE Deficit, etc... Environment - if so / not - why - thanks for your opinions

Wed, 02/15/2012 - 22:02 | 2164457 knukles
knukles's picture

The thing is almost all TIPS.  You can buy that exposure more efficiently through a lower fee vehicles. 

Wed, 02/15/2012 - 22:12 | 2164479 Matt
Matt's picture

No, because TIPS etc are based on CPI for their inflation hedging. Housing prices, iPads, etc impact the CPI, and the methodology has been changed, and can be changed as desired by the Federal Reserve to mask inflation. CPI is based on stuff people in cities purchase, including imports.

If you feel CPI is an accurate measure of inflation, then sure, go for it.

 

 

Wed, 02/15/2012 - 23:35 | 2164705 Dr. Engali
Dr. Engali's picture

Tips are a joke just as the SSI cost of living raise is a joke. They are both based on the same number, which we all know is a lie. The only thing tips are good for is a quick trade to dump on some sucker who actually believes in government statistics.

Thu, 02/16/2012 - 02:02 | 2165026 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

It's based on government numbers, which are a scam, so U will be scammed.

Buy gold, silver, oil, or some farmland.  Those will never be worth $0, but those bonds will.  All paper money is hocus pocus.  Tissue w/ ink given value by people brainwashed to give up their valuable time & production for fairy dust.

Wed, 02/15/2012 - 21:57 | 2164433 SHEEPFUKKER
SHEEPFUKKER's picture

Charles in Charge.  

Wed, 02/15/2012 - 22:11 | 2164474 Yen Cross
Yen Cross's picture

 Where in the hell is a good "red pill", when you need one?

Thu, 02/16/2012 - 00:28 | 2164868 pods
pods's picture

I took it, and it ain't all it is cracked up to be.

Did you ever notice how happy sheep seem to be?

Or vegetables?

I had some damn happy looking eggplant last year.

pods

Wed, 02/15/2012 - 22:16 | 2164492 RobotTrader
RobotTrader's picture

Biderman is another old-schooler ill-equipped to deal with:

 

- Red Bull Swilling Mo-Mo Traders

- Front-running HFT Algos

- Sub-penny Quote Stuffers

- SkyNet

- An Ambitious Fed

Might as well put that guy out to pasture.

Wed, 02/15/2012 - 22:49 | 2164589 ebworthen
ebworthen's picture

When the world praises ticks, fleas, and bedbugs while cursing butterflies, lady bugs, and bees -  there tends to be less blood in the body, more blood on the streets, and famine and pestilence.

Wed, 02/15/2012 - 22:18 | 2164498 JenkinsLane
JenkinsLane's picture

Anyone want to join a discussion group
(in a pub, obviously) in London town to
chat about Western economic collapse,
the possible collapse of all or parts of the
western financial system and strategies
other than survivalist and 10 Krugerands
for the future? Nothing political, that's
pointless.

Wed, 02/15/2012 - 23:45 | 2164729 ebworthen
ebworthen's picture

If I were there I'd join you.

Wed, 02/15/2012 - 23:56 | 2164783 UP Forester
UP Forester's picture

I would too, but the survivalism and silver would be topics....

Wed, 02/15/2012 - 23:49 | 2164751 Central Bankster
Central Bankster's picture

It depends....

 

 are you a hot chick and do you put out on the first date?

Thu, 02/16/2012 - 06:06 | 2165191 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Sorry, Nouriel, you won't get past the bouncer.

Thu, 02/16/2012 - 05:02 | 2165164 Babushka
Babushka's picture

Is the MI6 invited? Then I am all chips in....Where about?

Wed, 02/15/2012 - 22:22 | 2164507 blindman
blindman's picture

http://www.chinamining.org/News/2012-01-31/1327977417d53782.html
Hottest news review on Chinamining.org in January, 2012
.
http://www.songstube.net/video.php?title=The%20Briar%20And%20The%20Rose&...
"The Briar And The Rose" - tom waits

Wed, 02/15/2012 - 22:23 | 2164512 Atomizer
Atomizer's picture

 

 


Banking Cartel Playbook

Create:

  1.  Cruise ship incidence
  2.  Air related fatality
  3.  Ground terrorism event
  4.  Repeat step one to maximize immediate power

3:22 min, worth the watch on historical events

Bats and Trunks Turn sound off & watch closely. 

Thu, 02/16/2012 - 00:33 | 2164880 samsara
samsara's picture

What's the gap about?  Something drops, tape cut, on fire. around 2:06

Thu, 02/16/2012 - 02:25 | 2165059 Manthong
Manthong's picture

I suppose the fact that we withheld helium from the Nazis and they had to use explosive hydrogen had little to do with the incident (outside of the big ball of fire).

Wed, 02/15/2012 - 22:55 | 2164578 alexwest
alexwest's picture

x

Wed, 02/15/2012 - 22:50 | 2164593 Downtoolong
Downtoolong's picture

the US, Japan, and Europe want us to believe that our economies will grow faster if we keep taking more money from the workers and give that money to the government.

Even more insidious, they expect us to ignore that this transfer as well as centrally orchestrated monetary expansion is the single most important process by which the rich siphon off wealth from average people and become richer.   

Thu, 02/16/2012 - 00:30 | 2164876 pods
pods's picture

FTMFW!

Wed, 02/15/2012 - 22:59 | 2164612 blindman
blindman's picture

here a notice to the unsuspecting.
whenever you see a red down arrow anywhere
on this blog you should know and recognize
there are morons and suspect dimwits
present. the red arrow is the tool of the dimwit.
wordless fools unable to use the word.
i suggest they study the word/s and then use it/them.
it is so much fun and has value unlike the other
method of mindless arrow voting. join the human race
you fucking shithead arrow pushers! fucking speak already!
Rise of the Planet of the Apes - Caesar talks
http://www.youtube.com/watch?v=QAw6ZSgj0wE

Wed, 02/15/2012 - 23:49 | 2164754 Mike North
Mike North's picture

If you want replies with your red arrows,maybe you should not call people shitheads,morons,dimwits and fools. Your vulgar prose is protected by freedom of speech, perhaps you could give that freedom to others and let them express themselves however the wish!

Thu, 02/16/2012 - 00:11 | 2164819 blindman
blindman's picture

with words. i implore, use words. any u choose!
links, music, pictures .....
but use words. the up down green blue is the tool of
the pre literate troll. this site should never have
incorporated this weapon of mass disfigurement. imo
if u feel u need to reject something say it! learn to say
something. this mere voting up down implies a false sense
of influence. imo. the freedom of speech is granted for
speech, words, common currency. the freedom of arrows is only
applicable in the context of an authority that documents
and facilitates the recording of said votes or arrows, up
or down. apologies but it bothers me that people would
strike out at others, strangers, attempting to articulate
something with a fucking arrow down. i have never used a
red down arrow, ever. why? because i think it is subhuman
to strike out at someone without articulating to them what
it is that one finds incorrect or objectionable. yes, you
owe that to a human being. if you feel you do not then i think
that person is a moron, a fool, an idiot, an ignoramus, a
fucktard, you name it,
and shithead and dimwit. there is more by way of these vulgarities
in the form of prose ! much more.
keywords: use your fucking word !

Thu, 02/16/2012 - 00:35 | 2164886 Mike North
Mike North's picture

You're correct that thought out posts deserve a written response. Trolls don't. People who don't feed trolls are smart,please don't insult them. They don't clog forums with endless off topic rants, red arrow and move on.

Thu, 02/16/2012 - 00:48 | 2164918 blindman
blindman's picture

dear mike north,
i fear that many arrow pushers have yet to
comprehend the topic, never mind figure out what
might be off topic, moving on they get.
peace

Thu, 02/16/2012 - 02:21 | 2165055 sgorem
sgorem's picture

just wait a minute here, IF you're blind, blindman, then how would you know that I gave you a red or green arrow? got ya didn't I? you're not really blind! :) sarcasm at it's best, bitchez.....

Thu, 02/16/2012 - 06:11 | 2165192 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Were you, perchance, blinded in an archery incident?

Thu, 02/16/2012 - 08:30 | 2165271 Caggge
Caggge's picture

Blindman! You don't write anything that is worth more time then a quick click on the red arrow. I suspect soon you won't get any red arrows at all. Since it takes all of one read of your comments to determine they are worthless.

Thu, 02/16/2012 - 09:05 | 2165350 blindman
blindman's picture

i appreciate that comment. thank you.

Thu, 02/16/2012 - 09:53 | 2165494 blindman
blindman's picture

but let me add, what you say is pure b.s..
i appreciate it non the less. what we have,
friends, is paid agents who spend their daze
working on destroying the capacity of the free
general public and its discourse by gang flagging
and tangential commenting on the important issues,
topics, of the day. the arrow is their friend and
weapon and no seems to notice. good day. and it is
not about my comments. read on ....

Thu, 02/16/2012 - 19:14 | 2167605 blindman
blindman's picture

it came with birth like in the bible,
gospel of john, he spit and rubbed it
in my eyes and all. then told me to
wash in the foreign waters. but then
there was the arrow ( beam ) incident,
just a splinter in some eyes.

Thu, 02/16/2012 - 21:48 | 2168005 Caggge
Caggge's picture

Did you post something? I don't know cuz I didn't waste my time to read it.

Thu, 02/16/2012 - 22:10 | 2168060 blindman
blindman's picture

ok, i give up. it is dawning on me that i have,
once again, wandered into the wrong bar room.
we "all start out with bad directions" someone
succinctly observed. for the record i didn't call
anyone anything here, i used disparaging and vulgar
terms and associated them with a dismissive and
thoughtless behaviour. imo. no person was identified
by my comments, that was left to the anonymous entities
to judge and suffer themselves, a number of them
from the count. and one more disclosure. i lied when
i said i never used the red down arrow, i have used it,
but only on my own comments and for the purpose of
amusing myself. apologies where needed
and don't read this
and if you do don't repeat it.

Thu, 02/16/2012 - 00:36 | 2164888 pods
pods's picture

But in the constraints of time and space, a quick down arrow will allow you to make a statement as to the idiocy of a poster's remarks.  

And many remarks at times (myself included), are not even an argument or statement.  

I think the quick down arrow is helpful, as it is sort of a troll marker.  More arrows and less replies would allow this limited space to be filled with some more thougtful comments.

The down arrow can be used like safe sex on a farm:

Paint a red X on the animals that kick!

pods

Thu, 02/16/2012 - 05:09 | 2165167 Babushka
Babushka's picture

You see, some people instead of heavy wrestling prefer to give you just a quick punch and be done with it....And then you are crying on the floor demandig a fair fight?

Wed, 02/15/2012 - 23:44 | 2164704 Mike North
Mike North's picture

Deleted.Posted in wrong place

Thu, 02/16/2012 - 00:53 | 2164924 ruffles
ruffles's picture

Alliteration, bitches!

Thu, 02/16/2012 - 01:14 | 2164962 nastybrutishandshort
nastybrutishandshort's picture

At least we are getting the foreclosure problems sorted out:

"An audit by San Francisco county officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation, according to a report released Wednesday...and in 45 percent of the foreclosures, properties were sold at auction to entities improperly claiming to be the beneficiary of the deeds of trust. In other words, the report said, “a ‘stranger’ to the deed of trust,” gained ownership of the property; as a result, the sale may be invalid, it said."

http://www.nytimes.com/2012/02/16/business/california-audit-finds-broad-...

 

 

Thu, 02/16/2012 - 01:49 | 2165015 steveo
steveo's picture

And then of course, the trickle down effect!

 

yeah right.....

Free BPT Newsletter, Excellent Market Analysis

Boatload O' Charts, good summary, Fibo, Elliot, Common sense.

http://oahutrading.blogspot.com/2012/02/free-bpt-newsletter-excellent-ma...

Thu, 02/16/2012 - 02:04 | 2165031 q99x2
q99x2's picture

I believe that BO is well aware of the financial situation and has no reason to believe things will be in the future as they are now. By not seriously considering the financial situation publicly O is indirectly indicating that a major change is coming. One that cannot be dealt with by serious reasoning. So, he lies. He is a politician. That is what politicians do. Except for Ron Paul of course.

Thu, 02/16/2012 - 08:53 | 2165314 Sandy15
Sandy15's picture

Out of that take home pay since 2008 did anyone mention that minum wage increased by almost $2.00 per hour.  That would also have a huge affect on the number of people employed verses take home pay.  I own a business and the increased cost is killing our bottom line.  I can't increase my cost because due to people having less money to spend............  That's why I will not hire and I have actually cut employees and employee hours......... 

Thu, 02/16/2012 - 09:23 | 2165394 linrom
linrom's picture

Well this is how the real economy works. What you need to 'collect' profit is slave labor, it's been the economic backbone of civilizations. Now look at the I G Farben model at work in present-day China. You could emulate it!

So in the future, please correct economic midgets when they promote the myth of 'job creating' supermen whose wealth then trickles down and makes everyone rich.

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