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Biderman's Disbelief In The Market's Unending Belief In 'Something For Nothing'

Tyler Durden's picture




 

Epic Rant. Everyone's favorite Bay Area truthsayer is back and this time he is taking on the general ignorance of an indoctrinated mainstream media and the brainwashed investing public. Dismissing the nonsense of one media blogger's belief that the 'Euro would be better off without the meddling Germans' - implying that once the ECB was left to follow the path of stupidest resistance of printing and spending that all will be well with the region, Biderman conjures Lewis Black (spit and all) in the incessant belief that more debt can solve a problem of too much debt. Furthermore, the expectation that a European QE can bring rates down for Europe (without a German pillar of sanity) is ludicrous: "Unreal, what sane person would by short-term zero-interest rate debt instruments issued by a combination of broke debtor nations?" Reading the media or watching nitwits opine on CNBC and Bloomberg that everything is #winning: 'just because the Federal reserve or ECB prints money' is clearly frustrating as the TrimTabs CEO concludes "You just cannot print money and solve the world's problems".

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Fri, 06/29/2012 - 11:22 | 2573322 Jay Gould Esq.
Jay Gould Esq.'s picture

Not "indoctrinated" mainstream media.

Duplicitous, in the farce.

Fri, 06/29/2012 - 11:27 | 2573350 NotApplicable
NotApplicable's picture

The fact that this conversation still needs to occur says a lot about the state of things. Even Joe Sixpack understands the limits of pyramiding credit cards and other loans. Yet within the "sophisticated financial world," it's just another POV to argue over.

Apparently the First Rule of Holes does not apply

Fri, 06/29/2012 - 11:39 | 2573404 Popo
Popo's picture

Do swans pounce?

Fri, 06/29/2012 - 12:23 | 2573585 JPM Hater001
JPM Hater001's picture

I smell 13000 again.  Get the pipe.

Fri, 06/29/2012 - 12:51 | 2573702 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Stocks are denominated in fiat.  Fiat trades based on zero value, as it is merely a promise to pay.  The nominal numbers you see next to any asset makes no difference.  We are playing pretend with all numbers, and have been all along.

Fri, 06/29/2012 - 13:04 | 2573736 Fukushima Sam
Fukushima Sam's picture

1. Fill can with gold.

2. Bernanke kicks can.

3. Bernanke breaks foot.

Fri, 06/29/2012 - 13:45 | 2573865 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bernanke lies; he loves gold.

Here is why:

http://lhmarketwatch.blogspot.com/

Fri, 06/29/2012 - 11:27 | 2573358 gmrpeabody
gmrpeabody's picture

A Black Swan event would be kicking the can ..., and it doesn't budge. You kick harder, and the can magically rolls closer to you.

Fri, 06/29/2012 - 12:50 | 2573696 old naughty
old naughty's picture

you mean it's not going up and away, over the fork?

Fri, 06/29/2012 - 11:55 | 2573462 azzhatter
azzhatter's picture

I watched the irresponsible broadcasting this morning on Bloomie and CNBC. You have to suspend reality to follow these assclowns. They are like carnival barkers of old selling magic potions. It's really criminal and they should have lamp posts reserved for them when the whole thing comes apart

Fri, 06/29/2012 - 11:57 | 2573467 Randall Cabot
Randall Cabot's picture

Biderman is hyperopic, he needs to have that corrected.

Fri, 06/29/2012 - 11:22 | 2573323 midgetrannyporn
midgetrannyporn's picture

brainwashed investing public.

No such thing. It is all just self-serving fund managers now.

Fri, 06/29/2012 - 11:31 | 2573370 Nothing To See Here
Nothing To See Here's picture

Exactly, and each and every one of them now realizes that selling could cause a crash, so they'd rather keep buying endlessly and pretend that every event is bullish in a way.

Fri, 06/29/2012 - 12:23 | 2573580 ZeroAvatar
ZeroAvatar's picture

Ya know, that's exactly what I've been thinking, too.  The fund manager's bonus depends on the market being UP.  I'll bet every day, each and every one of them bites their nails,  hopes no-one starts the selling tsunami and takes antacids all day.

Fri, 06/29/2012 - 11:43 | 2573414 Stock Tips Inve...
Stock Tips Investment's picture

Countries, like people, they must first recognize their mistakes to correct them later. European governments spend more than the income they earn. And this they have done for years. The difference between expenses and revenues has been covered by debt. But this debt has been growing over time and it is becoming harder to sustain. Ah, but they DO NOT want to lower their spending levels because it is that level of spending (and not what they produce) what has become a wealthy society. So now seek every possible means to avoid lower their costs. Interest rates near zero, funding from other nations, extra liquidity injection (without any support) or any madness to maintain its status of rich countries.

Unfortunately the reality is quite another. The sooner they recognize it, it will be much better for them. Otherwise, his encounter with reality will be very violent. Or look for the rest of the world to finance its status?

Fri, 06/29/2012 - 13:35 | 2573836 viahj
viahj's picture

most of the "rest of the world" is in the same situation

Fri, 06/29/2012 - 12:27 | 2573606 JohnKozac
JohnKozac's picture

Are you implying that house prices don't always go up?....

Fri, 06/29/2012 - 11:22 | 2573327 eclectic syncretist
eclectic syncretist's picture

Central banks don't print money.  They issue non-existent credit that will never be (and was never intended to be) paid back.

 

He is correct that this creates problems in the end.

Fri, 06/29/2012 - 11:48 | 2573429 Matt
Matt's picture

I'm pretty sure this is incorrect. The Treasury of a country cannot print money, it must borrow it. The Central Banks, however, can create money for nothing. The Federal Reserve does not borrow money to make purchases; it creates money and buys stuff with it.

Fri, 06/29/2012 - 11:22 | 2573328 Cursive
Cursive's picture

 

The Black Swan is already stalking the Bernanke Put.

Word.  We will have deflation before any sustainable recovery.  It's inevitable.

Fri, 06/29/2012 - 12:31 | 2573624 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Just because stock pries go up does not make a recovery.

Fri, 06/29/2012 - 11:22 | 2573329 EL INDIO
EL INDIO's picture

What do you expect from Retards, Muppets and psy-C-ho-Algos

Fri, 06/29/2012 - 11:23 | 2573332 john39
john39's picture

what market?  none of this shit is real.

Fri, 06/29/2012 - 11:23 | 2573334 Boilermaker
Boilermaker's picture

This guy really needs to stop thinking so much.

Fri, 06/29/2012 - 11:30 | 2573365 DavidC
DavidC's picture

You really need to stop not thinking so much.

DavidC

Fri, 06/29/2012 - 11:25 | 2573338 GeneMarchbanks
GeneMarchbanks's picture

"Germany" doesn't exist in the equation. 

Fri, 06/29/2012 - 11:24 | 2573340 forrestdweller
forrestdweller's picture

"You just cannot print money and solve the world's problems"

why not? as long as everybody buys it. all we need is trust and faith.

Fri, 06/29/2012 - 11:33 | 2573379 Nothing To See Here
Nothing To See Here's picture

Along with flexible accounting rules and inflation calculations...

Fri, 06/29/2012 - 11:38 | 2573397 kraschenbern
kraschenbern's picture

Trust and faith only works in the presence of real goods and services; i.e., tangibles, that the producer is willing to exchange for paper (!!!???).  When the producers stop believing, game over.

Fri, 06/29/2012 - 12:53 | 2573706 Will To Live
Will To Live's picture

"Trust in Uranus"

Chicken Fried Movie.

Fri, 06/29/2012 - 13:37 | 2573842 gatorengineer
gatorengineer's picture

its working pretty damn well so far..... markets at record highs.  real standards of living at record highs...  the day of the piper may be a long way off.

Fri, 06/29/2012 - 11:26 | 2573346 El Oregonian
El Oregonian's picture

Overheard from two ObamaBots:

"Something for nothing? Where does the line start?"

Fri, 06/29/2012 - 12:10 | 2573523 Benjamin Glutton
Benjamin Glutton's picture

CNBC studio.

Fri, 06/29/2012 - 11:27 | 2573347 RobotTrader
RobotTrader's picture

Another disgruntled and disheveled bear who got it way wrong.

 

Any wonder why the PigMen are all driving Aston-Martins, AMG65's, Bentleys, etc?

And Biderman is still tooling around Sausalito in his 2002 Buick Century?

LOL....

 

Fri, 06/29/2012 - 11:30 | 2573368 fiddler_on_the_roof
fiddler_on_the_roof's picture

Very true. especially Biderman's terrible call to short stocks in June 2009.

Wonder why ZH still trumpets him.

 

The only thing going for ZH is their long physical Gold which is 100% right and will be for a long time. paper gold will burn.

short term I expect Silver to rise higher maybe even surpass previous high, but Gold is the ultimate tore of wealth which CB's are also accumalating stealthily.

 

Fri, 06/29/2012 - 11:32 | 2573375 adr
adr's picture

Do you really support the lifestyle of the Wall St set? Or do you just like seeing regular folks bleed out after being shot by Goldman waiting for help that never comes?

A man that stands by and does nothing to help is just as bad as the guy who shot the gun.

You must just be sick in the head. Is your favorite movie series The Hills Have Eyes?

Fri, 06/29/2012 - 11:35 | 2573385 Pladizow
Pladizow's picture

To: RobotTrader

What does Buffet drive?

Fri, 06/29/2012 - 13:32 | 2573828 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Becky Quick

Fri, 06/29/2012 - 11:40 | 2573405 Doode
Doode's picture

Unfortunately that is exactly right! Too much noise and not enough action. He did add some dates after my bitching yesterday on the his doomsday scenario that happen to match Ray Dalio's so lets see. He will not attract big money with rants like this - but folks will eat up his investment letter for sure.

Fri, 06/29/2012 - 11:47 | 2573423 DeadFred
DeadFred's picture

Still he has a cool view from his place. Hey Charles, please move the angle on the cam, your head is blocking Alcatraz and I like imagining Blankfein, Dimon and friends taking up residence there. I wonder if they would get to bring their Aston-Martins with them?

Fri, 06/29/2012 - 16:29 | 2574529 GMadScientist
GMadScientist's picture

Sure...they can drive em right there.

Fri, 06/29/2012 - 13:00 | 2573709 TWSceptic
TWSceptic's picture

Jim Rogers has no car. Does that mean he did bad?

 

 

Fri, 06/29/2012 - 11:27 | 2573348 muppet investor
muppet investor's picture

"You just cannot print money and solve the world's problems"

YES, WE CAN!

Fri, 06/29/2012 - 11:29 | 2573361 NotApplicable
NotApplicable's picture

Can ya feel the rush from that hit of Hopium!

I'm here to tell, this year's vintage is gonna be something special.

Fri, 06/29/2012 - 12:06 | 2573504 Treeplanter
Treeplanter's picture

Feels like Strawberry Sunshine.  Summertime, and the livin' is easy'

Fri, 06/29/2012 - 13:00 | 2573718 TWSceptic
TWSceptic's picture

LOL Obama is like a stubborn child, whenever someone says "you can't have that" he replies "Yes I can, yes I can" maybe being raised by his mother lacked the regular spanking and he got spoiled?

Fri, 06/29/2012 - 11:27 | 2573354 fiddler_on_the_roof
fiddler_on_the_roof's picture

I have been shouting here at ZH that anyone listening to Biderman's advice on stock markets will lose money and I also mentioned his terrible "short stocks" call at the start of this Bull run in June 2009. "Blah Blah Blacksheep" the regular ZH admonished for that.

 

Listen to him and lose. Good luck.

 

Fri, 06/29/2012 - 11:39 | 2573403 adr
adr's picture

If you looked at any real data point in June of 2009 Biderman made the right call. The entire rally has been based on complete fabricated fiction.

I don't think anyone would have figured corproations would have gotten away with marking hundreds of billions wrth of losses as hundredsof billions worth of profits within three months time. I don't think the investment banks believed Obama's behind closed doors promise not to prosecute fraud.

As long as the fraud was kept hidden, anything became permissable. The books of corporate America aren't just cooked, they turned into pure carbon and got shoved up Obama's ass. It's so tight they hoped within four years they'd have a diamond.

Fri, 06/29/2012 - 13:42 | 2573855 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Though bears may be right in the long run, they've been waiting since 2009 to be right again. Not to say that things aren't fucked ('cos they are), but we keep waiting for that last straw to break the camel's back and it still hasn't happened (at least visibly). My feeling is to rely on technicals as "fundamentals" bear no logic whatsoever in this market. No matter how much I think BofA should be dead, if I went short at $5 (relying on how fundamentally bad it is) I'd have been dead long ago seeing how it's at 8.05 today. You can't beat a rigged game, except to bet along with the "riggers".

Fri, 06/29/2012 - 11:28 | 2573355 adr
adr's picture

The people in charge would seem to believe you can solve the world's debt problems by creating more debt.

The DOW going up 400+ points in less than two hours worth of trading and a 6% spike in oil during that same period is seen as perfectly acceptable market conditions.

If it went the other way there would be congressional calls for inestigations into trading abuse. Flash spikes are to be encouraged as long as flash crashes are stopped.

There is something terribly wrong with a market that can move up and down by more than 2% in an hour. A 6% spike in oil prices based on nothing concrete other than bailout rumor 7694, should cause electronic trading of oil futures to be suspended for at least a week, if not forever.

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