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Capital Markets Über Alles: What Mitt Romney's Economic Advisor, Goldman Sachs (And The NY Fed) Really Think

Tyler Durden's picture


When it comes to Glenn Hubbard, the man needs no introduction, at least to those who have watched the Charles Ferguson seminal movie 'Inside Job.' Indeed, the extensive connections of the Dean of the Columbia school of business to the financial industry is well known, a fact which served as the basis of Ferguson's question: just how corrupt is America's elite educational establishment, and just how much of a factor in the perpetuation of the status quo is Wall Street's puppet control over each generation of rising financial and economic thinkers.

For those who are unaware, Hubbard also happens to be presidential candidate Mitt Romney's top economic advisor. The reason why Hubbard has suddenly made the headlines, is because of his overnight statement that contrary to what the potential future president has said, namely that Bernanke's days would be numbered under a Romney presidency, and that the Fed would be audited, Glenn has taken the other side of this argument, and told Reuters that Bernanke should "get every consideration" to stay beyond January 2014, when Ben's term expires. But why? Well, for the answer to this particular question, we have to go back to that long ago year 2004, when Glenn Hubbard together with current Fed president, and former chief Goldman chief economist Bill Dudley, authored a white paper bearing the Goldman sachs logo, titled "How Capital Markets Enhance Economic Performance and Facilitate Job Creation." In a word: for Mr. Hubbard (as well as for Mr. Dudley, Goldman Sachs, and thus, the New York Fed) it is all about the capital markets.

But it is one thing to appreciate capital markets in their pure form, without crony capitalism's visible hand bailing out those who after pocketing billions in bonuses are bailed out when their bets turn sour. It is something totally different to encourage a broken system in which the motto has, for the past 4 years, been, "heads i win (and am bailed out by my co-author), tails you lose."

Who else has demonstrated a tremendous propensity to focus solely on the farce that US capital markets have become, over and above other mandates such as inflation and unemployment? Why Federal Reserve chairman Ben Bernanke, who in a 2010 Washington Post oped made it very clear that since the Fed is powerless to do much about either inflation of jobs, the least he can do is push the Russell 2000 ever higher, benefitting those, increasingly few, who still own stocks and whose equity is concentrated in US corporate equities: essentially the only tranche in capital structure which will benefit from infltion. In fact, the more inflation, the better.

So the next time one wonders what is the difference between Glen Hubbard (and ostensibly, his advisee, Mitt Romney), Ben Bernanke, and Bill Dudley, don't. They are, for all intents and purposes, the same person.



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Wed, 08/22/2012 - 11:10 | 2727381 malikai
malikai's picture

Goldman Sachs for Dictator 2012!

Wed, 08/22/2012 - 11:24 | 2727436 TruthInSunshine
TruthInSunshine's picture

Deep Capture = 'Free' Prostate Examination sans lubricant






Pledge of Allegiance in school....No Pledge of Allegiance in school

Gay marriage.....No gay marriage


In the time it took to write that, the Deeply Captured Demublicans & Repumocrats, who both work for the exact same people and entities (i.e. NOT the American Citizeny), facilitated the stacking of tens of millions in serf debt onto the backs of each American (the 1/2 of those working who actually pay net taxes, at any rate).


Keep smoking the crack rock and believing in the illusion of "choice" projected by the astro-turfed left-right paradigm.

Wed, 08/22/2012 - 11:46 | 2727446 Dalago
Dalago's picture

Ron Paul 2012.  Liberty Forever.

Wed, 08/22/2012 - 11:59 | 2727600 Renewable Life
Renewable Life's picture

Ask Glen and Milton Freidman what they think of Ron, they'll get enraged and walk out on you! So Mitty "the savior" Romney has had a rough week, first his boy Paul Ryan and his buddy the idiot from Mizzou, has to explain what the definition of RAPE is, and how abortion fits into that phycho mentality, THEN he trotts out the biggest douchebag stooge on Wall Street, Glen Hubbard!!!!

Your on a roll Mitt, maybe next week, you can let the world know about the magic underwear, and Joseph Smit's history!!!! That would just about seal the deal, I think!

Wed, 08/22/2012 - 12:31 | 2727720 TruthInSunshine
TruthInSunshine's picture

I am writing in "Brian Wesbury/Joseph Lavorgna" (or "Abby Joseph Cohen/Jon Corzine") on my ballot in November.

I know my vote won't count, but at least I'll give "the sytem" the mocking treatment it so richly deserves.

Wed, 08/22/2012 - 12:37 | 2727749 notbot
notbot's picture

Hubbard's a major step in the right direction toward free mkts.

Wed, 08/22/2012 - 16:20 | 2728594 notbot
notbot's picture

Lots of down votes, but I'll take Hubbard over Barack/Geithner any day.

Wed, 08/22/2012 - 13:12 | 2727876 WillyGroper
WillyGroper's picture

>>>>>>and Joseph Smit's history!!!!

Dumb, dumb, dumb, dumb, dumb.

Wed, 08/22/2012 - 11:51 | 2727563 Lord Blankcheck
Lord Blankcheck's picture

Obeyme 2012    Chains you can believe in

Thu, 08/23/2012 - 07:47 | 2729647 Ar-Pharazôn
Ar-Pharazôn's picture

cant be against you in what you said.


left&right are the biggest LIE in the history of this planet!


keep the mass fighting between himself and you can do what you want!


that's almost the same thing as the old roman saying: Divide et impera (Divide & conquer)

Wed, 08/22/2012 - 11:24 | 2727443 sickofthepunx
sickofthepunx's picture

My opponent and I both suck but please vote for me.

at least i am white.


Wed, 08/22/2012 - 11:11 | 2727389 lizzy36
lizzy36's picture

Glenn Hubbard:US Treasury Secretary elect (yes i know it is a cabinet position and thus an appointment by the President elect)

Wed, 08/22/2012 - 11:12 | 2727391 heinrich6666
heinrich6666's picture

Glenn Hubbard is such a twat.

Wed, 08/22/2012 - 11:30 | 2727463 Whoa Dammit
Whoa Dammit's picture

Hubbard was the biggest, smuggest, most egocentric jerk in a movie about big smug egocentric jerks ( The Inside Job). 

Wed, 08/22/2012 - 11:58 | 2727588 slewie the pi-rat
slewie the pi-rat's picture

but..but..  tyler can use him here as part of his 13-month-long repuplicunt propwash campaign and continuing disinfo bullshit about the FED under dodd/frank (e.g. pretending there is still a "dual" mandate)

fuking joke, tyler!  you!  i'm talking to you, toy-boy!  YOU are stinkin up the joint here with YOUR fuking trolling, tyler!


Thu, 08/23/2012 - 15:00 | 2731318 Problem Is
Problem Is's picture

The dual mandate was always just bullshit for the Amerikan public's consumption so know one would look any farther into why these bankster creeps are here counterfeiting and defrauding the clueless Amerikan public...

Wed, 08/22/2012 - 12:31 | 2727719 slewie the pi-rat
slewie the pi-rat's picture

the toy-boy junksters could reply to me in writing, but they, like tyler, would not beat slewie!

Wed, 08/22/2012 - 13:40 | 2727995 slewie the pi-rat
slewie the pi-rat's picture

L0L!!!  fuu musta e-mailed ORI to get a posse to junque me, beloooow!

more new junks than new comments?  Hahaha!  threatened, toy-boys?

here's a more knowledgeable publisher, billBonner  Economic News and Ideas on Debt, the Market, Gold, Oil, and Investing:> 


08/20/12 Ouzilly, France – In the years 2007-2012, Nobel Prize winning economists Paul Krugman and Joseph Stiglitz — along with celebrity economist Jeffrey Sachs and practically all their colleagues — failed to notice the most-important thing to happen in their field. But not noticing things came naturally, easily to them. In fact, you might say they had built their careers on not noticing things, especially the most-important thing in economics.

hey tyler!  nice company!  one of the "not-noticing" leadership now?  CONGRATS,  toy-boy!   got VWAP?  L0L!!!  anything else? pssst:  hey durden:  wake the fuk up, dude! try this: 
  1. write a para describing the FED's "job description" under dodd/frank
  2. write a short para on why you there was no QEIIILSAP for the first nine months you predicted the same with certainty since last august
  3. stop pretending nobody notices the ongoing disinfo and WHOm IT IS DESIGNED TO BENEFIT, POLITICALLY

or, just keep pretending for another year?   dodd/frank has been the bankstering law for 2 years now, tyler!  wtf's the matter wid chew mon?

clean up the site's bullshit, tyler

you're making a damned fool out yerself and zeroHedge on these issues!

Wed, 08/22/2012 - 13:56 | 2728057 financial apoca...
financial apocalyptic contagion's picture

haters gon hate slewie, it's truth you spew


Goldman Sachs is a minority owner of TrimTabs

Zerohedge is owned by ABC Media Ltd. based out of Sophia, Bulgaria. ABC's trail ends in Switzerland- for now but don't worry there are people here who'll get to the bottom  of this

Wed, 08/22/2012 - 14:29 | 2728191 slewie the pi-rat
slewie the pi-rat's picture

old news, fin_app!

i'm trying to focus on the editorial slant and content here, myself

theseRthings we all share as fighters here

the content and our comments and others'

why the FUK can't anybody but slewie understand that the FED no longer has a dual mandate under dodd/frank?

:> the FED understands it

:> the CFR understands it

read their websites and a few law reviews and thoughtful summaries?  and STOP THE FUKING DISINFO ABOUT THE FED on zH

the truth is just about as fuking bad, for pete's sake!  trust me on that!

try it sometime, BiCheZ!  dear tyler & mittens and all republican operatives here:  you can NOT win with disinfo at this point

i don't care HOW many fake plastic straw boaters and "message balloons" ya order!  but the truth?  politially?  what would the MSM think, tyler?

Wed, 08/22/2012 - 11:39 | 2727505 Dapper Dan
Dapper Dan's picture

Harvard man, and National Security Council to boot.

Glen Hubbard, AKA Hubba Bubba For Dubya

High School: Apopka High School, Apopka, FL
University: BA Economics, University of Central Florida (1979)
University: BS Economics, University of Central Florida (1979)
University: MA Economics, Harvard University (1981)
University: PhD Economics, Harvard University (1983)
Professor: Northwestern University
Professor: Columbia University

US Congressional Budget Office Advisory Board
US Council of Economic Advisers Chairman (2001-03)
US National Security Council (2001-03)
Member of the Board of ADP (2004-)
Member of the Board of Dex Media
Member of the Board of Metropolitan Life (2007-)
BusinessWeek Columnist (2004-)
American Council for Capital Formation Advisory Board
American Enterprise Institute Visiting Scholar (1995-2001 and 2003)
Boy Scouts of America Manhattan Council, Big Apple District Cmte. (2003-)
Brookings Institution
Center for Addiction and Substance Abuse Advisory Board
Council on Competitiveness Advisory Board
Economic Club of New York Advisory Board
Harvard Club of New York

Twat Team member 2009-2012
John McCain 2008
Metropolitan Club
National Association for Business Economics Fellow
National Bureau of Economic Research Research Associate (1987-)
National Science Foundation Committee of Visitors (2003-)
National Science Foundation Economics Grants Panel (1994-96)
Resources for the Future Board of Directors
Romney for President Economic Advisor
Ryan for Congress
Tax Foundation Advisory Board
University Club of New York
World Bank Consultant
Omicron Delta Kappa Honor Society

Wed, 08/22/2012 - 11:50 | 2727559 Whoa Dammit
Whoa Dammit's picture

The Boy Scouts of America connection is rather odd, unless he has Penn State-type aspirations.

Wed, 08/22/2012 - 13:17 | 2727891 WillyGroper
WillyGroper's picture

Polar opposite of Twat Team Member, eh?

Thu, 08/23/2012 - 15:03 | 2731330 Problem Is
Problem Is's picture

It's Our Fault

We head slapped so many of these weasely, little suck up worms in grade school that Dudely and his ilk all suffered brain damage by 7th grade...

Wed, 08/22/2012 - 11:13 | 2727397 death_to_fed_tyranny
death_to_fed_tyranny's picture

Absolute Power Corrupts Absolutely! Now Eat Your Peas!

Wed, 08/22/2012 - 11:19 | 2727406 fuu
fuu's picture

"The ascendancy of the US capital markets —including increasing depth of US stock, bond,and derivative markets — has improved the allocation of capital and of risk throughout the US economy. Evidence includes the higher returns on capital in the US compared to else-where; the persistent, large inflows of capital to the US from abroad; the enhanced stabilityof the US banking system; and the ability of new companies to raise funds. The same con-clusions apply to the United Kingdom, where the capital markets are also well-developed."

Fuck you William, fuck you Glenn.

Wed, 08/22/2012 - 12:50 | 2727628 slewie the pi-rat
slewie the pi-rat's picture

tyler seems to enjoy the BIG republicunt dicks in his moth and the reach-arounds from the back-door-king men almost as much as you enjoy being polite to tyler when he's been a-diddling you, too, fuu


can't find the right music to call tyler out to properly?  L0L!!!

still don't get it? 

if you need help, get some, son!

Wed, 08/22/2012 - 12:59 | 2727731 slewie the pi-rat
slewie the pi-rat's picture

the toy-boy junksters could reply to me in writing, but they, like tyler and/or fuu would not beat slewie on either the FED or the "market behavior" for several months now

get yer dicks outa the dirt boyz! we gots fighting to do, and we don't do it by spreading disinfo or being cute lil pussies, either

trust me on that one?

how fuking confused have you gotten out in yer toy-boy boat?

this isn't about politics (they both suck puss from the banksters' weenies) it is about stopping the fuking bullshit FED and "QE" bullshit  on zH

go somewhere else and write cute little diity-songs if ya don't wanna play for the truth

or is it more fun hosting "troll appreciation nite" b/c "nobody is wrong ALL the time..."?

what a shit-show YOU throwed there, son!

Wed, 08/22/2012 - 14:02 | 2728051 fuu
fuu's picture

You know, you're right.


Tyler, please delete my account, I am not serious enough for ZH anymore.

Wed, 08/22/2012 - 14:09 | 2728116 slewie the pi-rat
slewie the pi-rat's picture

i know who is right here, fuu

are you pretending to be japanese now too?

Wed, 08/22/2012 - 14:17 | 2728147 fuu
fuu's picture

I'm not pretending to be anything slewie. I thought that since I am not a person who knows everything about finance, banking, or trading I could add value to my fellow posters by making fun of trolls in song. You have made it more than clear that my actions are a detraction from this site. Since I only come here to read, to learn, and to be snarky I can bow out and leave you to it. No skin off my nose.

Wed, 08/22/2012 - 14:43 | 2728260 slewie the pi-rat
slewie the pi-rat's picture

you won't have a fuking nose if you keep this up around slewie, fuu!

spend 1 hour researching "the FED's job description under dodd/frank" and write (yourself) a short para describing what you find

or don't

please stop PRETENDING it doesn't matter!  this is like 3 fuking months on this for slewie, dammit, janet!

if ya don't wanna fight for/on zH, don't let the fuking door hit yer cute, polite, lil furry ass on the way OUT, son

if ya wanna pretend you don't matter for another ? years, wtf can anybody do except nore it at this point

can you pulllease STFU 4 ONE FUKING HOUR and try to "get" wtf slewie is taking about re the FED disinfo or will you lose yer job if ya do?  will they take yer boat away if you spend some TIME on dodd/frank & the FED's job description and zHs ongoing BULLSHIT disinfo campaign?

Wed, 08/22/2012 - 23:22 | 2729331 sm0k4
sm0k4's picture

You talkin bout the FEDs unlimited borrowing to everyone and everything or their new job as regulatory enforcement officials? You want to be taken seriously when you type like a 14 year old Red Bull and video game addict? Half the time I can't tell what the fuck you are saying. Get back on the meds bro.

Thu, 08/23/2012 - 14:34 | 2731172 slewie the pi-rat
slewie the pi-rat's picture

i'm not yer "bro" asswipe!

no, toy-boy, that's NOT what i'm say, you stoooopid shithead!  is it too fuking hard to look up a hand-full of items from a brief search for you morons?  the REASON you don't understand is that you have been brainwashed by and ON zH, too!

i'm talking about their ACTUAL FUKING JOB DESCRIPTION under this new-two year old bankstering law

let me help you along here, shit-head:  fill in the blank, ok?

:>  the reason the FED has been given these new and sweeping regulatory powers is to insure that they can succeed at their new PRIMARY job of ensuring economic  S_ _ _ _ _ _ _ Y as they work w/ their new "committee" [controlled by the CFR? or do you have different intel abt THAT too, son?)  <:

unfortunately, the zH disinfo campaign only works on people who refuse to think for themselves;  obviously, you!

most of the compleat fuking donkeys who blog here have simply been brainwashed by the site;  then there is maybe a dozen others who come around on a regular basis who understand what a moron tyler is about "the FED" so he can suck up the republicunt do-re-mi

and everyone here has been taught an entire laundry-list of great bullshit in case anybody ever challenges the lies

and i am referring to ONLY to the MAJOR disinfo campaign against the FED which centers on teaching a gross misunderstanding of the "job description" for republicunt purposes

b/c the peeps here do not understand what the FED is trying to do under dodd/frank, they will NEVER be able to perform the simplest tasks of UScitizenry,  will they?  

and, the more confused they are, the more the mitten-head leadership here can manipulate them

how's that for "globalism"?  just like the greeks, &tc, too!  b/c nobody can "see" the propaganda or they will get shat upon by the gun-totin right-wing-nuts of mittens

and they don't miss a trick, do they?  unfortunately for all these nannifried toy-boys, truth may still be addressed here

fuk them and fuk you too you ignorant douche-bag of propaganda vomit

Wed, 08/22/2012 - 13:58 | 2728063 blunderdog
blunderdog's picture

   junksters could reply to me in writing...

Except...what's to reply to?  You're incoherent.

Wed, 08/22/2012 - 14:18 | 2728149 slewie the pi-rat
slewie the pi-rat's picture

the last time you took me on i reduced you to your essential self:  a murderous ignoramous.  you probably won't "remember" i'll bet

try this toy-boy:

  1. write a para describing the FED's "job description" under dodd/frank
  2. write a short para on why you there was no QEIIILSAP for the first nine months while tyler predicted the same with certainty since last august
  3. stop pretending nobody notices the ongoing disinfo and WHOm IT IS DESIGNED TO BENEFIT, POLITICALLY

too sick to understand?  no one would be surpirsed if you were not able to come up with two coherent paragraphs about the zH disinfo campaign about the FED (which just happens to play into mittens' "promise" to replace bShalomB;  gosh!  whata sprise!)

you don't bring the answers or dare to dialogue, b/c you you will lose if you come out from hehind tyler's skirts and yer little toy gun, tuff-guy

so just stfu if you got nothin to say to me.  again.  as usual

or:  try to answer 1 & 2.  tylewr won't.  fuu.  you. "ronnie" down there.  nobody.  buncha toy-boy asswipes!  all 0 ya!


Wed, 08/22/2012 - 14:33 | 2728206 blunderdog
blunderdog's picture

1) Same as it ever was, price and employment stability, PLUS try to figure out how to regulate derivatives.

2) There's been no stock market collapse in the past nine months, thus no reason for QE to occur.

See?  You could very easily provide that info instead of spewing garbage all the time.  It's not like you're going to get your points across with stream-of-consciousness bullshit punctuated at random and lashing out anyone who'd ever even TRY to communicate with you.

I think the fact that you believe you've "beaten" me at something is a warning sign, sloooooooooooooie.  At most a dozen folks here have ever even *tried* to understand your babble.  It didn't take me long to learn better.

(Did you ever check into the section 218 agreements I'd mentioned for you a few weeks ago?  Try to get a grasp on how many Federal employees are covered by those?)

Wed, 08/22/2012 - 15:14 | 2728346 slewie the pi-rat
slewie the pi-rat's picture

1) wrong!  try again.  that is NOT the FED's job description under dodd/frank as i understand it after looking at my own research

2) this doesn't even  explain "why the FED didn't QE3"  nor does it explain tyler's (and others') being so wrong for so long

you go back to 1 yerself and stop pretending you checked the CFR & FED & law reviews so quick, ok?

i'll come to ya on 2:  the FED (as was published and discussed here on zH in the summer of '11) found that incremental debt-QE-goobermint spending was decreasing the GDP at least that is what i concluded

QE (LSAP)  had become counter-productive economically.  many of us here recognozed this and shared the insight;  right here on these strings with you other rah-rah types too

tyler, rather than try to understand the FED (imo) in august 2011, went POLITICALLY against the FED and just tried to mock the chairsatan and timmah for about a fuking year, instead of presenting to the zH readership a more cogent approach to what the FED was doing according to its NEW job(s)

:>  (you) See?  You could very easily provide that info instead of spewing garbage all the time. <:

:>  (me)  yer info is not up to speed on either try (1 0r 2) imo, b_dawg, but thank you for the dialogue, ok?

perhaps you should try paying more attention to the people who disagree with the propaganda more often...

please take an hour or two to research these questions and stop pretending that if you just agree w/ tyler you have nothing more to learn

he has not has this stuff dialed in for a very long time dawg.  don't blame me, ok?   i'm slewie, not some publisher trying to make money after getting booted from trading for total lack of ethics, ok?

Wed, 08/22/2012 - 15:17 | 2728399 blunderdog
blunderdog's picture

I've spent as much time as I care to on Dodd-Frank.  It's lousy legislation, and it can't be enforced.  Even if it could, it's not worth the trouble to try to earn a doctorate in a single piece of legislation in this country, because 75% of the time, it's never going to be adhered to or enforced ANYWAY.

You asked.  I told you.  The Fed has been trying to figure out how to regulate derivatives.  That's not a big secret--if the global financial system crashes, the current Anglo-US bankers will no longer own the planet, and that's the real concern.

"Tyler" is not one guy.  One of them (at least) is a former trader with a revoked license.  One of them (at least) is a die-hard Republican.

Whether they're one and the same is not relevant to me.  The stories here are as good as they are and no better.  If you really believe there's a concerted effort by ZH/Tylers/whoever to push disinformation about the Fed's activities, it would be simple enough to describe what's REALLY HAPPENING (at least in the mind of Slewie) and let the wise readers come to their own conclusions.

Your brilliance will certainly outshine the work of hordes of copypasters of The Protocols of the Elders of Zion and Atlas Shrugged.

Thu, 08/23/2012 - 13:54 | 2731001 slewie the pi-rat
slewie the pi-rat's picture


and yer answers weren't right;  they simply reflected the psyops view based on the disinfo abt the FED which tyrler has been publishing for a year

so you hafta attack me personally b/c the "dual mandate" has been superceded by this new bankstering law? over 2 years ago?

i neither wrote dodd/frank nor signed it into law

i am not saying it is good or bad but i'll concede the ugly;  i am simply saying it is the bankstering law which the FED is following under the watchful eyes of the congo, both "parties", every fuking lobby on K street, and yes the zionistas and ranyrandians 2,  and also and especially rPaul (& yes, ill admit it, the tPar_tea, and i think that's great too btw)

so i am trying to stay factual b/c zH is not even close, editorially and tyler has fuled up, big-time here, too!

but tyler listens to slewie [meebe b/c he knows i listen v.closely to him?]  and didya see what he put up this morning?  in the main-page "intro" (not the article itself i don't think~~\;>  you know how that goes sometimes!) :>

Guest Post: Spreading Insolvency Around Does Not Create Solvency?????  huh?  didya!  here [Paste}:> please note the diminishing return on additional  debt: it is now negative.... Diminishing returns define the flailing financial system <: {endP]

and the didn't just "go negative" either, b_dawg, my little BiCh; altho i admit to taking tyler slightly outa context here since i think he is writing of the wWide aggregate

the diminishing returns we more than evident to the FED and others over a year ago!  which is (again) why slewie and anyone who can think straight KNEW there would be noMo QEIIILSAP till the freaking cowZ came home, asswipe, especially with the QEtwist option right there and now finishing up as a YEAR of FED POLICY under dodd/frank

i haven't read the law;  i may be crazy, but i'm not insane (oldeBerkeley)

but i have read a LOT abt it and suggest that others here do so too

when we are getting "dual mandate" propwash almost every day and requently several time/ day no one will doubt why someone of your calibre has simply absorbed the disinfo and is plodding along, politically, with these agents of same :>  whom i can imagine tyler screaming at, himself, right about now...

can ya fuking hear me now, toy-boy?

anti-intellectual"ism" is the propagandists'  BESTEST fren

and it is disinformation [for 2 years now] to even suggest that the FED still has a DUAL mandate;  the right-wng nuts simply do NOT want their gun-totin to evah wake up;  daBoyz prefer to train people like you to believe you are awake and poeple who do not agree with yer brain-washed ass are either  sheep, asleep, or some sinister "copypasters"

and they are doing pretty well too!

this has been a very interesting experiment;  thank you for your participation, you styoooopid shithead!



Thu, 08/23/2012 - 15:55 | 2731510 Seer
Seer's picture

Slewie, a long time ago I suggested that the Fed might be the intended black-bag-holder (black hole) that would [be forced?* to] swallow and die, and that in death the spin would be that it's NOT a govt agency.  Is it being used to liquidate everything, I don't know (though it sure seems that way).  Your thoughts on This?

* It's the "corporate" escape clause, kill the corporation and reform (with same basic people/powers/string-pullers).  Perhaps the top dogs are given new top-level gigs in order to carry out this execution?

If I add in your insights to my long-ago formulated hypothesis one might see it all as a selling out of the US banking system (yes, as bad as it is) in favor of a more "stable" internationally-controlled (NWO?) one?  That is, am I getting you right in that you're saying that this is a play to actually help strip (what's left) of US sovereignty?

And, please don't go trying to slap my ass, as I'm asking QUESTIONS here in hope of finding more truth.  If "Tyler" is in anyway a "front" it still doesn't matter (the Disclaimer gives plenty of signs that this could be possible), I can read through most crap (I belong to NO clubs, and, clearly, not even the ZH club).

Bottom line for me: I stick to the TRUE fundamentals given by Mother Nature (or "God" if one prefers that sort of thing), those that most matter: Food, Shelter and Water.  Everything around is is so far unsustainable that it's all nothing but a clown act, a circus waiting for the tents to fold up.

Thu, 08/23/2012 - 21:52 | 2732423 tip e. canoe
tip e. canoe's picture

i'm with seer (and tradewithdave) on this one:   the FED is the Golem.

it's the Bad Bank NakedYves was yapping about hysterically bout 3 yrs ago.

it's quite brilliant actually: take an idea from the Left and an idea from the Right (End the Fed), wrap into one that co-opts both sides while effectively neutering the constructive parts of each concept.

gotta give it to the Boyz, they sure do know how to suck the energy of the zeitgeist and direct it to their nefarious advantage EVERY SINGLE FUCKING TIME.

Thu, 08/23/2012 - 16:08 | 2731539 Seer
Seer's picture

Slewie, comments on this?

[yeah, it's CFR - they claim Fed now has THREE mandates]

Thu, 08/23/2012 - 17:24 | 2731746 blunderdog
blunderdog's picture

I didn't attack you at all.  I'm trying to help.  Your writing style is INCOHERENT.

You've now posted three long messages here asking "what's the new role for the Fed" and have still not answered your own question.

I'd be interested to hear whatever it is you believe, but you don't appear to be capable of writing it for us.

Why is that?

In any event, just to stoop to your level of discourse, because perhaps English isn't something you have any facility with:


Does that help?  Can that filter a bit easier into your clearly malfunctioning brain?

I don't have anything against you.  You're probably just too old to keep hold of a clear thought long enough to put it into words here. 

(Sorry about that war thing, but it's really not my fault it fucked your head all up.)

Wed, 08/22/2012 - 11:18 | 2727416 partimer1
partimer1's picture

Does this country of 300 m people really deserve to be fucked twice by the same guy again?   Larry summer did that gladly to the country.  This dude wants to do the same?  When he was here last time, we got a big one in the ass, and he want it again?  Integrity and shame don't exist for these people.  

Thu, 08/23/2012 - 15:57 | 2731514 Seer
Seer's picture

Well, billions around the globe have been gang-banged by MANY such people, for centuries... it was only a matter of time before full-blown incest set in...

Wed, 08/22/2012 - 11:20 | 2727425 Cranios
Cranios's picture

I think he's right about the capital markets, but there needs to be serious reform of how they are managed... as in, get the government out of managing the outcomes as much as possible.



Wed, 08/22/2012 - 14:32 | 2728204 notbot
notbot's picture

Agree, Cranios.  Not sure why you get junked for that.  

Is it just me, or has there been a huge increase in trolls and conspiracy theorists in the comments on ZH?  Used to be just good ol' free mkt libertarians and a few conservatives mixed in.

Wed, 08/22/2012 - 11:22 | 2727430 the 300000000th...
the 300000000th percent's picture

squirmy little f$cks


Wed, 08/22/2012 - 11:28 | 2727457 FuzzyDunlop21
FuzzyDunlop21's picture

Looks like a douche.

Wed, 08/22/2012 - 11:32 | 2727468 davood
davood's picture

Maybe Inside Job is not really an expose or an anti-establishment film afterall.  Considering that Madam IMF was featured as one of the "good guys" and now this fellow.  What the hell, wasn't Elliot Spitzer in Inside Job too?

Wed, 08/22/2012 - 11:50 | 2727561 Renewable Life
Renewable Life's picture

Watch it from beginning to end and then make up your own mind. IMO it ripped everyone of these dumb fucks to pieces! Laggard and Spitzer are politicans and were just smarter then those POS wall street midgets, and said all the right things, but the Documentary absolutely crushes it, I think! But I encourage everyone to watch it from beginning to end, it gives Obama an ass kicking too!

The truth hurts!

Wed, 08/22/2012 - 14:29 | 2728190 davood
davood's picture

We must of been watching difference movies.  The one I saw placed Madam IMF as one of the "saviors" of the financial crisis or at least someone with "clean hands."

Wed, 08/22/2012 - 11:32 | 2727472 Lost Wages
Lost Wages's picture

Romney wants to lose very badly. He's making sure he only appeals to the most narrow, retarded demographic of the Republicunt horde. He's burned every bridge with moderate liberals and libertarian conservatives, which will cut his votes down to nothing but the mainline morons. You can't win a general election without some crossover votes, if indeed they bother counting votes at all anymore. If they don't actually count the votes, he can still win by fraud.

Wed, 08/22/2012 - 11:36 | 2727484 blindman
blindman's picture

20 August 2012
Bill Black On Wall Street Control Frauds and Moral Hazard

Wed, 08/22/2012 - 11:37 | 2727489 The Count
The Count's picture

It's so simple a child gets it: Audit the FED = Your political death sentence



Wed, 08/22/2012 - 11:40 | 2727508 blunderdog
blunderdog's picture

During the interview when Hubbard pointed out it wasn't a deposition, the interviewer should've asked if that meant he was lying.

Wed, 08/22/2012 - 11:42 | 2727524 Rainman
Rainman's picture

Not a single one of these court jesters has a clue. The death march of the FIRE economy continues. Nothing to do but keep repeating the same old cyclical recession growth ideas. It's all orchestrated bullshit stamped with a PhD.

Wed, 08/22/2012 - 11:44 | 2727533 awakening
awakening's picture

I think they lost their 'baffle them with BS' scripts, nothing a few teleprompters could not fix.

Wed, 08/22/2012 - 11:50 | 2727560 Dineroguru
Dineroguru's picture

I was actually going to try to do everything possible to get Romney elected and then up jumps the devil on bubble vision.  Can't they trot out some other prick academic than the tired old Glen Hubbard?  No to Glenn no to Larry no to William .  What stupid shits are picking these knuchleheads for Mitt?  Get some nobody from Kansas or someplace--

Thu, 08/23/2012 - 16:51 | 2731652 Seer
Seer's picture

"What stupid shits are picking these knuchleheads for Mitt?"

Apparently you forgot to read the script.

Mittens is just another appointed cast member, no different than one the so-called underlings.  Are we really so gullible to think that this is anything other than a movie (show)?

The string-pullers OWN it all, they OWN you and I, that is, as long as we're playing in their sandbox (and most folks don't have a clue about life outside the sandbox, many pretend they do, but they don't).

Wed, 08/22/2012 - 11:52 | 2727568 Bay of Pigs
Bay of Pigs's picture

Ivy League Ivory Tower types teaching kids how to lie, cheat and steal your way to success. All about gaming the system and actually believing that it's okay to do so.


Wed, 08/22/2012 - 12:00 | 2727608 blindman
blindman's picture

Ain't No Way - David Lindley/El Rayo-X
David Lindley - Pay The Man
" every body in the whole wide
world , got to pay the man. " d.l.

Thu, 08/23/2012 - 14:03 | 2731084 Jena
Jena's picture

Blindman!  I have this album on vinyl!  It's one of my longtime favorites...

Wed, 08/22/2012 - 12:10 | 2727646 yogibear
yogibear's picture

Glenn Hubbard, another bankster tool.  Glen and Larry Summers  laugh about screwing  the muppets when they get together at Goldman's dinner parties.

Wed, 08/22/2012 - 12:14 | 2727658 blindman
blindman's picture

David Lindley - Talk To The Lawyer
.." And so they sent you to Afghanistan
To have you workin’ for their master plan
I think that maybe for the CIA
And when you’re through they’re gonna put you away

They wanna put you in an institution
And put a wire up into your brain
Because you know about the revolution
That kind of thing’ll drive a boy insane

Better talk to the Lawyer
Professional liar
Gotta talkin' to the lawyer
Professional liar .." d.l.

Wed, 08/22/2012 - 12:22 | 2727681 q99x2
q99x2's picture

They are going to get us all killed.

Wed, 08/22/2012 - 12:43 | 2727767 Shizzmoney
Shizzmoney's picture

These people need to get raped by a knife

Wed, 08/22/2012 - 12:57 | 2727810 Omen IV
Omen IV's picture

if you look at the 2004 report page 11 - on derivatives - Buffett's concerns and reasons provided have all come to pass since 2004 - especially with AIG in multiple ways he cited - and greenspan's logic and presentation was both wrong and superficial - yet Hubbard / Duffy commentary supports greenspan view  - but on LTCM scenerio they present it in a way which confirms buffett negative comments - yet H/D come to opposite conclusion - amazing piece in 2012

Wed, 08/22/2012 - 13:07 | 2727863 loveyajimbo
loveyajimbo's picture

Just great... Obama is a muslim socialist who is not even a citizen, corrupt, useless, stupid.  But Mitt is in deep with the crooks like Dimon and Blankfein...  I am going to write in Ron Paul so while Rome burns, I will be able to sleep at night.  Of course, a large pile of gold eagles under the bed is a bit comforting too... as is my .44 Magnum...

Wed, 08/22/2012 - 13:11 | 2727874 loveyajimbo
loveyajimbo's picture

I wonder why Slewie is not banned... he is a toxic 'roid, a craven piece of dog shit and a coward... aside from that, he is as welcome as an anal blastoma...

Wed, 08/22/2012 - 14:05 | 2728031 slewie the pi-rat
slewie the pi-rat's picture


L0L!!! i din't junk ya!

  • b/c i know of which i speak? 
  • and b/c tyler has been so wrong for so long?
  • that he's "sold out" his cred & zH for the rupublicunt do-re-mi?
  • and people KNOW this from reading the site?

if ignorance is bliss the readership must be happier than pigs in shit!

oh wait!  they are PIGS IN SHIT? 

imagine such a thing!

tyler can not answer me:  he will lose in a show-down w/ slewie at this point and he knows it, too!

so tyler can either STFU and get the schooling he needs or pull my string;  i'm not the coward, son.  look in the mirror and please link to any intelligent comment you have ever left on these drippings, ok shithead?

writing in rPaul, and pretending you have gold and a blackHawk ain't gonna cut it in a debate about the FED and zH being held political hostage by the radical religious right (but yer avatar didn't get it, either, did he?  he pandered to those fascists like there was no tomorrow while allowing the marineCorps and the spooks to run a cash drug ring outa OUR whiteHouse;  that camel's nose wasn't they only thing this puppet of the arch-criminals lifted his and nancy's skirts for either;  was it, you archetypal moronic asswipe?)

Wed, 08/22/2012 - 23:31 | 2729369 sm0k4
sm0k4's picture

slewie is the hipster's hipster.

Thu, 08/23/2012 - 14:56 | 2731299 Problem Is
Problem Is's picture

Has slewie ever posted a rational, logically valid argument with each assertion support by facts (and citing sources would be nice)...

Or is this just a typical slewie disjointed tweaker rant?

Just curious...

This guy's writing is all over the road ADHD style...

Wed, 08/22/2012 - 15:22 | 2728415 Marley
Marley's picture

"How Capital Markets Enhance Economic Performance and Facilitate Job Creation."

How an Insidious Capital Market Distroyed Humanity on a Small Insignificant Floating Orb in the Name of Individualism

There, fixed that for you.

Wed, 08/22/2012 - 16:37 | 2728659 neutrinoman
neutrinoman's picture

Symptom of Republican split personality: establishment types like Hubbard, Greenspan, and Bernanke (different, but not that different, from such Democratic Friends-of-Bill cronies as Geithner, Rubin, Weil, Summers, Levitt, etc.) versus the Tea Party (angry about bailouts and cronyism).

Will be interesting to watch how it plays out. Ryan selection means Romney wants Tea Party and independent voters; Hubbard selection means Romney wants to play nice with establishment.

Thu, 08/23/2012 - 17:12 | 2731711 Seer
Seer's picture

"Will be interesting to watch how it plays out."

No, not at all, not when the puppets of the string-pullers are playing with our lives!

"Hubbard selection means Romney wants to play nice with establishment."

No, Romney's a kiss-ass puppet to the establishment.  It's NOT Romney's call, he's just another political whore and has to do with what the "trick" says.  NOTE: the ONLY options that Romney has are to be a whore or NOT to be a whore.  NOTE2: Advanced apologies to the world's oldest profession, for lumping these ass-wipes under their umbrella.

Wed, 08/22/2012 - 19:34 | 2728893 ATG
ATG's picture

Intrade missed SCOTUS 0Care decision and PR VP selection, (PR = Ron Paul backwards) but still has 0 16 points over MR:

Only a bona fide market crash could elect MR.

If Ron Paul gets nominated in Tampa by True American delegates tired of business and politics as usual, then things get really interesting.

A work in progress at this point:

Re Fed under Dodd & Franks 0D's, stability was added to unflation and jobs, with the same effect as the last 99 years. OTC bank derivatives were supposed to be collateralized, marked to market, regulated and transparent by 21 July 2012, but BB and the banks thought that would collapse their market foreclosure pyramid too soon, so they punted.

Slewie, please take yer meds like a good rat: 2:43

Thu, 08/23/2012 - 17:22 | 2731731 Seer
Seer's picture

"If Ron Paul gets nominated in Tampa by True American delegates tired of business and politics as usual,"

Wait a sec... OK, I'm back!  Had to look out the window to see if I saw pigs flying...

You're NOT getting it!  There is NO deviation from the script!  If by some freak accident RP managed to climb up above the pit he's been tossed in to we'll only find that they've built Their ground higher (or he gets pushed back to the bottom of the pit).

This is a Republic, it is special.  Only a select few can be trusted with executing its instructions!  The "people" can't be trusted (esp if you're not white, just ask Fruitless Freddie [whatever happened to that other racist? I kind of tended to agree with most of his stuff, except when he went off on a tangent with the racist stuff- Freddie, however, is single-tracked, just like any good employee should be]).

Thu, 08/23/2012 - 14:47 | 2731278 Problem Is
Problem Is's picture

"So the next time one wonders what is the difference between Glen Hubbard (and ostensibly, his advisee, Mitt Romney), Ben Bernanke, and Bill Dudley, don't. They are, for all intents and purposes, the same person."

Useful Idiots, One and All
Hubbard, Romney, Bernanke, and Dudley are just some of the Useful Idiots that the corrupt, criminal ruling oligarchy buy as the political class and academic/financial elites...

They are nothing more than empty suit place holders (like the current Teleprompterin'-Moron-In-Cheif) following orders to lie to and fuck the Amerikan public, aka average US citizen...

There is nothing new under the sun... just a new round of Wall Street crime and governmental corruption...

Thu, 08/23/2012 - 15:53 | 2731506 slewie the pi-rat
slewie the pi-rat's picture
  • now then:

IF the primary job of the FED is to ensure systemic economic staaahbeeeeleeeitaaay

THEN perhaps we can consider together their 2012 conduct (QE twist "ZIRP") and understand that to go with a huge QELSAP is cerainly not against their freaking morals or the morals of the pols or the CFR

or even prez0!

slewie might go ape-shit, but if i thought it were indicated and well-designed (slim&none?) i might just agree to stfu for a page or 2, myself

but that time is not now, according to the chairsatan;  and i am on the record here as saying i think he's doin ok here and timmah2; they are keeping the checks in the mail and the markets are shitting skittles;  my hotline to the CFR is chillin on the FED

so:  for the "oldeDualleMaundayties"?

  1. GROWTH:  the marginal GDP to a new dollar of QE-debt got to 1cent and then over-shot?  this is true!  so the plan is to keep rates low and borrow and print as little as necessary to have & eat cake too.  the checks are in the mail
  2. JOBS and "bull" EMPLOYMENT:  same deal;  here the FED seems to be asking for political and "fiscal" leadership;  so noWay is there gonna be too much "printing" for a new debt-based" jobs program

i'm not a fiatsco fan or a debt-based currency fan;  or a FED fan;. i've been saying since i got here thast counterparty risk is such a ? that PMs cash supplies and bikes make sense to moi

the FED has that one mandate of systemic economic stability and i think if and when things get more stable maybe some big money might move, but the little money seems to be doing ok,

so maybe ...
they'll just...
increase the ...
"flows" ...
to where ...
they want ...
the dough...
for jobs ...
& growth...


p.s. it is the FED which is the one and only agent of economic stability in the US under dodd/frank;  this is what we are seeing in the macro;  and as i've been saying for months now, this is ALL we're seeing

maybe it will fall apart by the weekend but it seems to be pretty stable today, if ya can catch me drift there, maties

so, to pretend that this apparent stability is not happening and/or is not under the auspices and regulatory authority of the FED due to 2-year-old legisation is rilly a bit too much...


if it falls the fuk apart i hope i am ready and everyobody else too;  that we're "prepped;  'cause it could and it might and i can't prove it won't

but i don't wish it on us and i certainly don't know for certain that it must come soon...

...or i would have told you so...

Thu, 08/23/2012 - 17:36 | 2731768 Seer
Seer's picture

I guess I'm not figuring where you're going with this, what the "end goal" of what you see.

As far as I see (have seen- I'm fucking Seer!) it's meaningless to guess what the CFR/NWO/String-pullers want or don't want.  I don't mean that what they do doesn't impact people, surely it does.  What I am (and have been) saying is that they cannot turn water into wine.  Create your own world before they create one "specially" for you!

The CFR/NWO/String-pullers are just as uncertain of the outcome as anyone.  That is, none of them can say what Their individual outcomes will be.  Each might or might not know/understand reality, but knowing/understanding reality doesn't guarantee survival.

Nature is all about deception.  Humans are OF nature.  Just look around for proof of how deceptive humans are and you'll see the mass-deception.  We're now backing into a corner, dangerous animals is we... no capacity for enough "replacements," on the whole, we're aging, entropy is biting hard, we're running out of bullets (resources).  Welcome to the prisoner's dilemma!*

* Many years ago when I saw that GM's union opted to drop wages for new workers in exchange for older workers keeping their levels of medical coverage and pensions it was clear to me that one of the prisoners ratted; now both are doomed... (it applies to the bigger picture and is NOT about unions or big bad business/capitalists)

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