Biderman On Europe And The Rally: "It's All Bullshit"

Tyler Durden's picture

The sensible Sausalitan is back and this time he is taking on the "baffle 'em with bullshit" conclusion of last week's "non-game-changer" EU Summit. After some self-congratulatory chatter on his timely call for markets to ebb from April, Charles Biderman (CEO of TrimTabs) chokes back the spittal as he reflects on what came out of the mouths of European leaders last week: "I cannot see anything new from last week's summit" as he summarizes the findings clearly "The ECB possibly will print more money and save some Spanish and Italian banks". We can't help but agree with Charles when he adds: "Where have I heard that before? Printing Money To Save Banks - wow, how original?". Biderman still believes the Fed will engage in more money-printing but the stock market's current rally is temporary and will falter once again until Bernanke pre-announces his next print-fest. "Money-printing is the only solution left for Central Banks and in reality without fundamental changes in the way Europe and the US is run, the best money-printing can do is keep the dieing alive a bit longer"


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world_debt_slave's picture

Tell us something we already don't know.

Conman's picture

If you watched the video he says he is up 5% on his facebook trades.

Mr Lennon Hendrix's picture

He is up on FB!  But deflation is coming!  King dollar!  Loud noises!!

Xibalba's picture

Am I the only one selling this fake rally? 

Mr Lennon Hendrix's picture

You are one of a few humans trading.  It's just you and skynet now.

Xibalba's picture

I guess I'm betting that it will become self aware and go Cylon.

Stock Tips Investment's picture

An expansionary monetary policy usually does not work by itself. Governments need to do their part (to reduce the deficit, reduce (or eliminate) the regulations and promote growth). If you think that injecting liquidity into the market are solved huge problems that exist, then we should prepare for the worst.

The Monkey's picture

Prepare for the worst AFTER investors have fully purchased any news out of the EU. Even though nothing has changed with respect to Europe's deepening recession, do not underestimate how much further north prices can move before the market turns down again.

Start dollar cost averaging @ 1400, and expect it to ultimately retrace all the way to 1415 -1420. Save dry powder for the unexpected upward stab.

The Monkey's picture

Biderman is right, monetary stimulus doesn't do a lot. But, it can temporarily move prices big time. Be very patient.

Hippocratic Oaf's picture

May we have a constitution left when we visit this site again a year from now.

 

Happy July 4th all you bloggin' mother fuckers!!!

TBT or not TBT's picture

We still have a constitution, but it now says Congress can fine an individual for not doing something they want you to force you to do, and call that fine a tax by virtue of the IRS  (the guilty-till-proven innocent branch of the formerly federal government) collecting the fine.   The fine can be big, apparently, and still be a tax and not a punishment.    It can ass-rape the spirit of the commerce clause and the federal structure set up by the founders, and do so in the public square, with full support of law enforcement, the courts, and the looter class.

vast-dom's picture

why would he dabble in fuckbook?

firstdivision's picture

Why the f is the EUR rallying today?

bdc63's picture

there's a rumor that there might be a rumor coming out later today ....

The Monkey's picture

Positioning ahead of the ECB.

ebworthen's picture

Lagarde was on CNBC with Maria "G6" Bartiromo saying that all is fine with Euro and European Banks and that deposits are safe.

*cough*

VonManstein's picture

fuck Birdman he's proably losing some money on something.

It is all bullshit of course but anything is better than USD or EUR so real assets (including stocks) are inevitably going to go higher

Randall Cabot's picture

The last time biderman ranted like this back in December the market rallied for four months!!!

veyron's picture

How's your FB call biderman?

Mr Lennon Hendrix's picture

It's all bullshit!  Buy facebook!  Deflation is coming!  King Dollar!

tocointhephrase's picture

Your (so called) King is on the verge of being dethroned and it will be in my lifetime!

Mr Lennon Hendrix's picture

Please allow me to introduce myself....

Buy silver

tocointhephrase's picture

EDIT: Nice to make your aquaintance: If I may add, load up the truck while your at it!

FEDbuster's picture

Buy a couple years worth of food first.  Food is always in short supply during economic collapses (read your history).  Silver and gold are nice, but what you need first is rice.

francis_sawyer's picture

buy booze next... (or learn how to grow potatoes & build a fire)...

FEDbuster's picture

Learn how to grow potatoes and make your own booze?   Don't forget a good supply of "special seeds" for appetite enhancement (long term storage food can get boring to eat).

TBT or not TBT's picture

That 5hr energy stuff will carry us all through.

Fidel Sarcastro's picture

It's bullshit alright, but what do u expect with CENTRAL PLANNING from Comrades Bernanke & Co?

blueskies123's picture

A big thanks as always to a voice of truth. Only wish I had heard of Mr. Biderman and his excellent video outlook years ago but of course financial media such as CNBC, Yahoo Finance and MarketWatch routinely ignore his advice.  Happy 4th to all despite all the horrible acts of torture, deceit, broken promises that the US gov continues to engage in.

midgetrannyporn's picture

He likes the 5 horse in the 5th race. lulz

Peter Pan's picture

Everyone talks about central banks printing money, but in actual fact they are printing debt.

There is something awfully sick in a system when banks cannot save themselves despite having at their disposal the use of fractional reserve banking, questionable valuations and low interest money from government.

 

Dr. No's picture

Im not sure I follow.  The CBs do print money.  That is their killer app.  For whatever reason, they choose to buy debt of their friends because their friends have nothing else to sell.  But be clear, they print money. 

BTW, the FED is tightening.  If you dont believe me, just look at the adjusted monetary base published by the FED.  In the end they will print, but the current tightening does not bode well for equities.

Peter Pan's picture

The money they print enters the system as debt and debt requires interest payments which in effect add to the debt. Hence in reality they are printing debt and not just debt but debt that continues to grow until it consumes all productive efforts and output.

The monetary base is in fact growing but the debt is growing at a faster pace due to interest. Furthermore many of the "assets" bought with this monetary base turn to crap either because they are holidays, granite bench tops or bad investments. The debt however remains.

This is the crossroads we find ourselves at. This debt must largely be written off in order to recognise that there is no longer a corresponding asset or at least an ability to service the debt without stifling economic activity.

Dr. No's picture

They purchase debt only because that is what their pals are selling.  However, (as Helicopter Ben stated do well), there is nothing preventing them from opening the window and tossing out money to the people on the streets.

With interest on mony at 1.6 for the 10 year, it doesnt take much ROI to make payments.

TWSceptic's picture

The reality is, these banks should not exist today. Like any bad company, they should have been declared bankrupt. Unfortunately some idiot in the white house thought otherwise.

kindape's picture

"Its all bullshit"....translation =someone who has lost alot of money being wrong on short side...

gjp's picture

Maybe so, but it doesn't make it any less bullshit.  Congrats to all 'savvy' longs playing along side the kleptocrat money destroyers.  You're part of a long history of just going with the flow in tyrannical regimes.

Cdad's picture

All one needs to do to confirm "it's all bullshit" is to watch just how desperate and sloppy buyers are today...especially in individual energy equities.  Just pathetic...the worst of the worst panic buying.

Indeed, it is all bullshit.  And based on volume during this latest miracle rally...everyone seems to understand that it is "bullshit" except all the boy wonders on Wall Street...who still think they are simply trading towards a new bonus pool in a bull market, talking about how "historically cheap" stocks are, and pimping their "channel checks" and their "forward projections."  This...this as we have now confirmed via Bod Diamond that the entire banking system, including the central banks, are a complete fraud.  Good grief.

More banker pink slips, please.

gjp's picture

More banker fitted nooses please.

centerline's picture

The big goal seems to be apathy.  Enough continuous information/disinformation, turmoil and emotion... pretty soon everyone is numb and reactions to real events are muted or confused.

Shizzmoney's picture

Well, here's the thing.  The suckers are still at the table betting away, it's just the sharks with staying power (and intelligence) that are backing out. 

So the only players left in the game are the Big Whales (Pensions, Buffett types) and the Big Sharks (Banks, Goldman types); but in order for any game to survive, you need new blood.  But that's hard as a) the market is obviously rigged to the intelligent person and b) even ifthe intelligent person wanted to get into the market, the majority of us don't have any capital, or don't have access to unlimited credit to capital (unlike the Big Banks who can just Call-n-CRTL-P to the Fed for easy cash).

What happens when the suckers FINALLY go bust (Baby Boomers and pensions, mostly)?  The game dies.   

BigMike's picture

I'd love to see all the Biderman haters on this thread record a youtube video 4-5 times a week with their market views -- probably end up worse than Cramer. Bitches