Complete Gundlach "Deficits Don't Matter" (sic) Presentation

Tyler Durden's picture

You asked for it, you got it... And yes, the title was facetious.

 

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CClarity's picture

That's the presentation?  

I guess "nothing" matters.  Yep, that's about right.

Peter Pan's picture

Gundlach is the fool who once said that he is not too fond of gold because you Can put $25 million worth of rubies in your shoe and still feel comfortable. The man is an ignoramus. Delete him.

crouton's picture

i think by shoe, he meant his ass

Beam Me Up Scotty's picture

25 million in rubies?  You have got to have one hell of a singularity in your ass to absorb that many rubies.  Unless you are a 600# American.  You can hide 25 million Big Macs and TSA will never know.

Acorn10012's picture

Didn't you see the Hillary stripper?

Harlequin001's picture

and here's me thinking it was Dan Quayle. Obviously there was more than one nut job in that administration...

Agent P's picture

I always heard it was the "size" of the deficit that didn't matter.

Logans_Run's picture

No it is just how you use it!

krispkritter's picture

Don't think size or skill matters at this point...I'm so numb to all this BS I don't feel a thing.  Ben Dover! Reporting for Duty Sir! Touch your toes, on the Double! Sir, yes Sir!...

http://www.youtube.com/watch?v=3woEDTUbDYg&list=FLeGAOM7ibPwtPLGNel9UVBA&index=11&feature=plpp_video

SemperFord's picture

So far it seems they don't matter, nobody wants to be the first to admit it, oh well...Game on Wayne, Game on Garth!

flying dutchmen's picture

The fact that high level people believe this, makes me think there is very little common sense left in this world.

but the real sucker in the this situation will be the lender.

 

tarsubil's picture

They don't believe it. They live it. They do it because they can. War, war never changes. Neither does man.

ReeferMac's picture

That'd be Mr. and Mrs. Taxpayer, to you and me....

buzzsaw99's picture

Obviously they don't because usa equities and treasuries both outperformed gold today. Nobody cares.

Sudden Debt's picture

Yeah, that fat guy in the corner will pick up the tab, SEE YA!!!!!

blunderdog's picture

Cheney also said Saddam Hussein was involved with the 9/11 attacks and that he supported same-sex marriage.  Dude was all over the map.

Biosci's picture

Saddam Hussein supported same-sex marriage?  No wonder we invaded.

Poetic injustice's picture

He also referred to Bush daughters as "fat cows", so one more reason to invade.

blunderdog's picture

Sort of--Cheney and Saddam Hussein were secretly lovers, and Dick was pissed he couldn't marry the guy with the sexy Selleck moustache.

That's why they hushed up 9/11.  To prevent that from going public.

monoloco's picture

I thought Saddam and Satan were gay lovers? I saw it on South Park.

Uchtdorf's picture

Yuck, yuck. I get it.

Logans_Run's picture

Great presentation if for no other reason it clearly demonstates how far we have fallen.

Stoploss's picture

Time to short the euro into the ground.

dwdollar's picture

Wrong Dick. Deficits do matter. Rome and many failed states since then have proven that. All Reagan did was prove kicking the can was a viable option for a long time. Actually that was proven by Rome too.

11b40's picture

Cheney started laying the groundwork for wrecking havoc with America in the early '70's.  He and his merry band of neo-cons and 'privatizers' gave us a mercenary army with a secret component in the form of Blackwater and other shadow, rogue military groups.  He made his personal fortune in Haliburton, the ultimate publicly traded beneficiary of his 'privatization' efforts, and he was the shadow President, as little George the Lesser was the the Cheerleader In Chief.  His goal was an Imperial Presidency and he views himself as a senior member of an American Aristocracy....possibly the Uber-leader.

I can't think of anyone more personally responsible for crippling America over such an extended period of time.  The only period he wasn't slithering around the halls of the Pentagon/Defense Department, Congress, or the White House for almost 40 years was when Clinton was in office.  He spent that period at Haliburton.

krispkritter's picture

Yeah, this guy is the Devil incarnate. I actually had someone tell me GB was intelligent when I suggested that Cheney was running the WH in 9/11. GB was reading a fucking kids book and Cheney was in a 'bunker'. I laughed when I saw the 'heart transplant' articles.  Really? I think you have to HAVE a heart first in order to transplant one? Otherwise it's a donation or in his case, dinner...pass the chianti...

krispkritter's picture

Oh and BTW, is it just me or did Haliburton buy Boots & Coots just weeks prior to their F-up on the Macondo rig? And B&C, the world-renowned well recovery experts, never even made a showing? And then millions were shoveled into Corexit while the thing spewed for months? And now all that crap is lying under the surface of the Gulf turning fish and shrimp into eyeless, limbless, zombie-dinners for the masses? To this day I still can't eat a thing out of the Gulf. 

11b40's picture

Yes, and don't forget buying Kelllog, Brown & Root, their military contractor competition....Oh, and moving the corporate HQ to Dubai.  Great American company, right?

Rainman's picture

This guy smells like one of them thar cyclical recessionists...hell, they're everywhere

i love cholas's picture

My desk neighbor flosses his teeth and slurps his beverage and goes "Aggggh" after every sip. I have bigger things to worry about!

toady's picture

That's one of my all-time, top 10 favorite quotes.

It's just crazy enough, yet completely believable coming from Darth

I like his 'Millions? Millions? Come back when you're talking billions! ' too!

youngman's picture

Its spending....not the revenues.....

Deficits do not matter for a very short term usage...but not for 40 years of deficits.....Politicians spend...that is how they show the people they are doing something....spending is the problem....tonight on the news you will hear the nasty Republicans and what they are trying to do to the poor little students....like cut some spending...bad bad bad....can´t cut spending...no no no....have to "GROW" the economy.....on printed fake dollars to get you a fake economy...looks good on paper though...and works in the polling booth unfortunatly

lizzy36's picture

The deficit is structural.

Nobody is paying for the lifetime expenditures of the bottom 80% of Americans.

The trillion dollar deficits are not being used to replace the spending of the deleveraging househole. That is complete bullshit. The only deleveraging that has occured is writing off of debt. 

Due to wage deflation and inflation everywhere else, the government is now plugging the hole. This money is not finding its way in to the saving accounts of the 80%, it is finding its way onto corporate balance sheets.

Since 2007 US government social benefits have increased a mind numbing $633B. Yet there has been no NEW revenue. No increased personal taxes, No increased social security payments, and Corporate reciepts at lowest level in 40 years.

So the question is WHO is going to pay for the lifetime expenditures of the bottom 80% of Americans?

centerline's picture

No one.  Future labor will not.  Current savings will be vaporized instead.

Let them eat iPads's picture

Reagan was an idiot.

 

That's why Americans loved him.

FeralSerf's picture

Reagan may not have been the sharpest tack in the box, but he got the message loud and clear from the the Bush gang two months after his inauguration.  Either he let Bush and his criminal cohorts be acting President or he was dead meat.  He chose to live as a figurehead.  In reality, he was President for two months maximum.

Hannibal's picture

Agree, Govt deficits/debt don't matter, "money" is nothing less than a mere "placeholder", an invented abstract magically appearing on a computer screen.

Hence TPTB etc will continue to milk fiat currencies downward, converting their fiat loot into real hard assets.

Elwood P Suggins's picture

Cheney and Krugman on the same page?

hornster's picture

how come I have to wait  or reload forever to get ads to finish?

EclecticParrot's picture

Never thought I’d be quoting a top executive of a soul-sucking insurance company, but in describing newly trained auto claims representatives this CFO hit upon a universal phrase that also seems to apply to the subject of this article, as well as our congressional reps:    “ Idiots with checkbooks. ”

Darkness's picture

What does (SIC) mean?

The Alarmist's picture

Syncophantic Industry Connection, if you are a Congress-Critter. Standard Industrial Classification if you are an analyst.

Stoploss's picture

Stuck Inside Chopper.