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Biderman: "The Most Damage Is Caused By Those Who Are Not As Smart As They Think They Are"
It is not often we double-dip in the Sausalitan's soliloquies but tonight's glorious truthiness from Charles Biderman, CEO of TrimTabs, is worth the price of admission. After explaining that the only way he could be any more bearish is to be double-levered - and that he believes that besides "believing in miracles" this market will see the March 2009 lows once the market-rigging is fully exposed, he makes probably the most clarifying statement we have heard regarding our central-planners-in-chief. With regards to Messrs. Bernanke, Geithner, and Obama: "The most damage is caused by those who are not as smart as they think they are." They continue to believe they are smart enough to fix all our financial problems (and Europe's - if they would just listen to Timmay) by building a bridge over the recession - thanks to asset-buying and ZIRP. "The only problem is we are running out of bridge and are nowhere near recovery" is how he sees it and reflecting on the massive gains that have been made on short-dated Treasuries as the Fed (who is the one buying them) extends the ZIRP horizon - it is clear that this is nothing but a huge Ponzi scheme.
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slight short squeeze on, could turn into a rally on open. Hang Seng is somwhat bid, USD is sell, CB sponsored HFTs hitting up the EUR... that's a cue
so we...
http://youtu.be/GI8xrnOrftM
Jack Gilchrist, the owner of Gilchrist Metal Fabricating in Hudson, New Hampshire, incredulously asks,
“My father’s hands didn’t build this company? My hands didn’t build this company? My son’s hands aren’t building this company? …Through hard work and a little bit of luck, we built this business. Why are you demonizing us for it?”
to the down arrowerer....er
'm not saying he was wrong to take the money, i'm saying he was wrong to say he did it all himself when he didnt.
Plus dont williard's staff do background checks?
colonial, there is a smell to your posts , the smell of the ivory tower, encased in dogma. also the smell of no concept of how business must swim in the ocean of gov control..I am sure you view yourself in a much better light than you deserve.. a small mind or else just plain lack of understanding (some call it stupid) of the subject of running an actual company.
gov contracts have maximum suckage too....must have very good HR department or you can get your peepee wacked in a hurry
My business was never 'successsful' enough to need 800K of govt assistance.
You must have a cadre of acolytes who believe completely in the cult - in order for the leaders of the cult and those close to them to perpetuate the lies.
No shortage of sincere fools who think they have it all figured out and are doing the right thing as they pray to a stone painted green.
The black swan (reality) always intervenes in speculative bubbles like FED QE.
All this mean is that Bernanke is going to spend a whole lot of money buying all the banks's bonds off of them instead of letting the bond market crash.
The jig was up in 2008. Since then we have only postponed the innevitable purge.
Every time I hear the central banks say they are going to pump money here, lower rates there makes me cringe.
They are only making the day of reckoning that much harder on everyone.
Alan Greenspan,
“And what I’m saying to you is, yes, I found a flaw. I don’t know how significant or permanent it is, but I’ve been very distressed by that fact. [A] flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak. That is — precisely. No, that’s precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.”"
if skull and bones was a group of powerful men, how would they run the USA?
IMO: sorta like we see it today. NWO was spoken in Public by Papa Bush with glee.
Bush II: we have to destroy capitalizm to save it. well they have and the road to the NWO seems down hill from here.
The power to place in office an UNK man, with no real history was as open middle finger to all America.
and millions went along, or so diebold & owned Media tells us.
Is he out of his mind? Drop in bond yield of 11 times (2.5% to 0.21%) is not the same as 11 times price increase!
Especially not for a 2 year bond. So, if yield drops from 0.21% to 0.02%, price would rise 10 times? What about negative yields, like in Swiss bonds?
Bollocks.
Hayek called it the 'fatal conceit' of the intellectuals.
Timmy is prime pickings for jail. Supposedly he knew about Barclays rigging LIBOR and didn't say anything. I would call that illegal based on other poepls of justics interpretation of illgal acts. Obstruction of Justice maybe?
It is called the DK effect and it is fucking rampant...
Fortunately those that suffer from it here at ZH are in no position to damage anything....
As for Timmay and the gang.... they know exactly what is going on and are desperately trying to maintain the system and its attendent hierarchy by any means possible...
It all boils down to how long and how fast Bennie can print to counter a deflationary collapse and also keep oil priced in USD at a "reasonable" level....
Edit:
Here is another shining example
GOP Leadership Silences Critical Thinking On Loan Guarantees While The Texas GOP Opposes All Such Thinking
... It is perhaps no surprise that two Texas Republicans are being attacked for critical thinking — since the Texas GOP’s 2012 Platform actually opposes any teaching of “critical thinking skills.” The Platform contains a plank on “Knowledge-Based Education” that reads (on page 12 here):
None of that fancy “knowledge-based education” for Texas!
"once the market-rigging is fully exposed"
herein lies the problem. the question is when. this shit could go on for another decade. just ask Japan.
He's BAAAACKKK!
The voters are the ones who are stupid. Smart people make money, dumb people hold public office. If you don't believe that statement, check out your local congressman.