• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Biderman Sums Up Europe's Problem In 30 Seconds

Tyler Durden's picture


After an extended and detailed rant against the BLS and their ineptitude, which is worth watching in its own right, Charles Biderman (CEO of TrimTabs) sums up Europe's troubles and hopes in 30 seconds. Towards the end of the clip, Biderman notes that Monsier Hollande is saying that governments should borrow more money so they can give more money to more people and THAT will create economic growth. Instead, Charles sees Europe sliding down a slippery slope faster and faster with no end in sight.

The initial BLS rant is worthwhile but from 3:45, Biderman bashes Europe's hope...

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Tue, 05/08/2012 - 10:50 | 2406578 Cognitive Dissonance
Cognitive Dissonance's picture

I >heart< Biderman

Tue, 05/08/2012 - 10:54 | 2406591 SilverTree
SilverTree's picture

The whole thing is falling apart. 

Tue, 05/08/2012 - 10:54 | 2406596 Pladizow
Pladizow's picture

What, the BLS #'s are shit?

Man, perhaps gold & silver are manipulated!

Tue, 05/08/2012 - 11:03 | 2406630 Dead Canary
Dead Canary's picture

I'm shocked, SHOCKED I tell you!

Tue, 05/08/2012 - 11:17 | 2406640 Muppet Pimp
Muppet Pimp's picture


Tue, 05/08/2012 - 11:04 | 2406645 Town Crier
Town Crier's picture

I love his occasional little chuckling sounds.  I could watch him just for that.

Tue, 05/08/2012 - 12:03 | 2406903 XitSam
XitSam's picture

"But nooooooo!"   LOL

Tue, 05/08/2012 - 10:51 | 2406579 kato
kato's picture

Wish he would not wear those shiny shirts: makes me think he just came from directing a porn movie over in the valley.

Tue, 05/08/2012 - 10:53 | 2406592 Popo
Popo's picture

I believe they're hugh-heffner style pajamas.  

Tue, 05/08/2012 - 11:00 | 2406622 Cognitive Dissonance
Cognitive Dissonance's picture

Clearly you are not California worthy. :)

Tue, 05/08/2012 - 11:14 | 2406688 carbonmutant
carbonmutant's picture

We're serving Chardonnay in the hot tub...

Tue, 05/08/2012 - 19:09 | 2408495 hardcleareye
hardcleareye's picture

Actually there are similarities between skanky porn and the BLS numbers....

Tue, 05/08/2012 - 10:50 | 2406583 Stoploss
Stoploss's picture

Looking a little flashy crashy here.


Were about to find out.

Tue, 05/08/2012 - 10:53 | 2406590 GeneMarchbanks
GeneMarchbanks's picture

He should stick with the theme: BLS.

Europe in a sound bite form is the epitome of simplistic journalism.


Tue, 05/08/2012 - 10:56 | 2406601 Dr. Engali
Dr. Engali's picture

Charles , Charles, Charles.....I love ya brother ( not like until death do you part man love but , but like a bother in this insanity)  but you can't expect TPTB to let facts muddy up the picture they are trying to paint.

Tue, 05/08/2012 - 10:56 | 2406603 Dapper Dan
Dapper Dan's picture

I think someone is selling their stock today.  Is there some sort of sale going on today? I wish I would have known in advance.


Tue, 05/08/2012 - 10:57 | 2406606 Jason T
Jason T's picture

stand up and show some respect.. I can't get enough of that one.  lol   ..referring to the golden dawn press conference.

Tue, 05/08/2012 - 10:57 | 2406610 Pegasus Muse
Pegasus Muse's picture

Nice geraniums, Charlie.  Yours are doing better than mine.

Tue, 05/08/2012 - 11:02 | 2406623 Zero Govt
Zero Govt's picture

"Biderman Sums Up Europe's Problem In 30 Seconds"

How about one word... Government


Tue, 05/08/2012 - 11:29 | 2406708 Dr. Engali
Dr. Engali's picture

I'll throw in two more....the fed.

Tue, 05/08/2012 - 12:24 | 2406985 sgt_doom
sgt_doom's picture

Negative, Biderman is confused about Hollande, who is simply saying that debt financing is NOT ONLY the province of the ultra-rich, but should benefit the people as well.

Europe's problem is exactly the same as America's:

The ultra-rich believe only they should benefit from debt financing, while pushing its outcomes onto the backs of the people ---- the people should also benefit from debt financing, after the ultra-rich have rigged the markets and melted down everything!

Tue, 05/08/2012 - 11:02 | 2406631 Börjesson
Börjesson's picture

Why is it that some commenters, like the bland and quite frankly boring Biderman, or the meaningless Rosenberg, or the uneven but occasionally insightful Art Cashin, always get such a favourable and "one of us"-style presentation here at ZH, no matter how rambling or uninteresting the things they have to say?

Tue, 05/08/2012 - 11:15 | 2406690 GeneMarchbanks
GeneMarchbanks's picture

Those commentators stick with the narrative bias that pervades.

Tue, 05/08/2012 - 12:04 | 2406899 Debt-Penitent
Debt-Penitent's picture

Personally, I love to watch Hugh Hendry and Mark Grant's wry cynicism and how with nonchalance, they eloquently bash their interviewer's status-quot ideals with hard facts.

Marc Farber is more than entertaining too.

Tue, 05/08/2012 - 20:54 | 2408650 DanDaley
DanDaley's picture

Börj...sounds like you got ahold of some bad lutefisk, man.  Skol.

Tue, 05/08/2012 - 11:03 | 2406636 Kasperfx
Kasperfx's picture

i woulden't stop at the BLS#'s were now living in fairtail gov statistics land.. 


Tue, 05/08/2012 - 11:04 | 2406638 UTICA CLUB XX PURE

Imagine being 15 years old [MY SON] and watching all this transpire. Then taking your at home on the farm salary from me in the form of junk silver coins. What are the young people of America to believe in or hope for??? We fucked it all up for them...

Tue, 05/08/2012 - 11:36 | 2406784 WSMassiv
WSMassiv's picture

They are all mostly ignorant as to what is actually happening. (As they shoud be.)
If you educate him as to what is going on, then you are at least affording him something that you did not have: A choice.

This is a huge positive anyway you slice it.

Tue, 05/08/2012 - 11:08 | 2406656 Vince Clortho
Vince Clortho's picture

Ministry of propaganda and hopium.

Tue, 05/08/2012 - 11:17 | 2406697 cdude
cdude's picture

Love the Ralph Kramden "...but, noooo" @ 1.48. 

Tue, 05/08/2012 - 11:17 | 2406699 Lord Koos
Lord Koos's picture

Actually compared to bailouts, handouts do more to help the real economy... just sayin.

Tue, 05/08/2012 - 11:17 | 2406705 Reptil
Reptil's picture

smirk 3:33 LOL

Tue, 05/08/2012 - 11:22 | 2406718 Keith Piccirillo
Keith Piccirillo's picture

Charles Biderman reminds me a bit of Lewis Black in his elucidation.

Tue, 05/08/2012 - 11:26 | 2406738 Snakeeyes
Tue, 05/08/2012 - 11:39 | 2406793 kridkrid
kridkrid's picture

It is about debt, but not in the way that the cheerleaders for austerity believe... not in the way the author of your link sees things.  Austerity isn't a solution... it's a faster route to collapse... which isn't a bad thing... but it isn't a solution.  The problem isn't that debt crowds out growth... the problem is debt IS growth.  Virtually all "Money" is debt, loaned into existence, with interest.  The system doesn't contain money to pay both the principle AND the interest, so MORE DEBT must be generated.  It's a PONZI scheme.  Our entire financial/monetary system is a lie.  Within that context, austerity doesn't solve anything... it simply starves people a lttle longer until the final collapse can occur.

Tue, 05/08/2012 - 15:07 | 2407705 TWSceptic
TWSceptic's picture

Not true. Debt can be paid back, it's a conspiracy that it can't be. All you have to do to reduce debt (and eventually get rid of most of it) is increase your production and lower your trade deficit. Then become a creditor nation again. If you do that for a long enough time, you will see your debt disappear. The problem is, governments are stupid and are doing exactly the opposite of what they should be doing.

Also austerity does help, reducing spending is the first step towards a solution. But governments don't even want to take that first step. And that is why there will be a collapse. So you got it completely backwards.

Tue, 05/08/2012 - 15:48 | 2407904 kridkrid
kridkrid's picture

You don't understand our monetary system.  Most people don't.  You are stuck on a level of observation.  Everything you have said sounds very logical, and in silo, what you have written is true... but not across the entire monetary system.  It is aggregate debt that MUST expand.  Government debt is only a piece... and is usually the red herring used to keep people distracted as the banking oligarchy fleeces the world.  I'm not sure what TW stands for, but you need to take the rest of your handle to heart and reexamine how debt/credit money and fractional reserve banking works.

Wed, 05/09/2012 - 08:44 | 2409537 TWSceptic
TWSceptic's picture

I know the theory, I've seen the documentaries. In a sense you are right, on a global scale your theory is right. On a national scale not so.

Wed, 05/09/2012 - 09:32 | 2409653 kridkrid
kridkrid's picture

Don't fall into the trap of thinking of this as a "theory".  This is not a theory... it's simply the mechanics of our monetary system.  It's the combination of fiat money, fractional reserve banking and usary.  Don't rely on the documentaries... research what the fed itself has to say on how money is created.  I think the number they use is 99% of money is created in this manner (i.e. the creation of a lon).

http://www.chrismartenson.com/crashcourse/chapter-7-money-creation - here's a good reference from Chris Martenson

Tue, 05/08/2012 - 11:43 | 2406817 Tenshin Headache
Tenshin Headache's picture

It's getting serious. Time to lie.

Tue, 05/08/2012 - 11:47 | 2406834 kahunabear
kahunabear's picture

Hmm, borrowing to give to people to stimulate the economy, where have I heard that before?

Thu, 05/10/2012 - 06:32 | 2412516 luckylongshot
luckylongshot's picture

With official unemployment figues in America showing around 10% and actual numbers being around 23% how can anyone still take any official government figures seriously?

Sun, 05/13/2012 - 23:33 | 2422710 qiongqiong
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