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The "Contrarian" Permabull's Ultimate Guide To The Non-Zombie Economy

Tyler Durden's picture


Presenting, with little comment, the ultimate arbiter of the truth - First Trust's Brian Wesbury - discussing his "Mark-to-Market accounting is to blame for it all; the economy is fine and is not reliant on Fed QE; 80,000 jobs creating; Facebook wealth-building" view of the non-zombie economy. So we presume: Forget China, ignore Europe, the fiscal-cliff is a molehill, and once the government stops spending/growing (which is his angle) then all will be well with this thoroughbred economy - as opposed to his non-zombie plough-horse (that unfortunately just leads us down a path of low/slow growth, labor force participation-lagging, deficit spending, social welfare dependent dysphoria).



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Wed, 07/11/2012 - 15:43 | 2607368 fonzannoon
fonzannoon's picture

This guy is so awful. Is he human?

Wed, 07/11/2012 - 15:46 | 2607385 NotApplicable
NotApplicable's picture

He certainly seemed to cover most of the fraudulent bases. How a human could be that detached from reality and still function is beyond me.

Perhaps he's one of those "Greys" that Icke goes on about?

Wed, 07/11/2012 - 15:48 | 2607391 idea_hamster
idea_hamster's picture

"once the government stops spending/growing"


Wait -- no, wait!  Stop it!  URKILLINGMEHERE!


Wed, 07/11/2012 - 15:55 | 2607451 Pladizow
Pladizow's picture

CNBC regular?

Wed, 07/11/2012 - 15:56 | 2607459 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dinglebury also runs ZH hit pieces.

Wed, 07/11/2012 - 16:02 | 2607498 TruthInSunshine
TruthInSunshine's picture

ZH needs to come up with a top 10 list, or deck of cards, or some list, of the biggest permatardbulls out there in lala land (whether they're subjectively being genuine in their analysis and prognostication or knowingly shoveling the sell-side bullshit).

Jeremy Siegel's #1 or the Ace of Spades in my deck.  This Wesbury guy probably makes the cut of the top 10 based on his failed predictions of the past and his ability to maintain a poker face while heaping mountains of bullshit in such short intervals of time.

Wed, 07/11/2012 - 16:39 | 2607640 nope-1004
nope-1004's picture

Who the hell is Brian Westbury?  And who the hell cares?


Wed, 07/11/2012 - 17:30 | 2607821 lineskis
lineskis's picture

Not quite like Alice in Wonderland but close enough...

Wed, 07/11/2012 - 18:57 | 2608153 FEDbuster
FEDbuster's picture

As long a Jim Cramer gets both Joker cards, count me in for a pack.

Wed, 07/11/2012 - 16:35 | 2607472 Kitler
Kitler's picture

Brian Wesbury? Forget all that nasty criticism cuz I love you.

First Trust... First Trust... let's see...

Yes yes... found it!

... and SHORTED with extreme leverage.

(It's just like taking alfalfa and oats from a permacalf! :)

Wed, 07/11/2012 - 16:43 | 2607653 earleflorida
earleflorida's picture

Wesbury's claim to fame was as a line dancer when CNBC was still in its infancy as a banana/commodities level program -- they liked Brian's choreographic style -- sample [here he is in the middle] 

Wed, 07/11/2012 - 17:17 | 2607783 ITrustMyGut
ITrustMyGut's picture

roflz +1

Wed, 07/11/2012 - 15:58 | 2607468 SheepDog-One
SheepDog-One's picture

RIGHT any minute the gubment will stop spending/growing! SURE!

Wed, 07/11/2012 - 16:13 | 2607551 LeBalance
LeBalance's picture

pwease Mr. Andromeda Strain, pwease stwop gwowing! pwease!

Wed, 07/11/2012 - 17:12 | 2607769 Unbezahlbar
Unbezahlbar's picture

2 more houses up "For Sale" in the Hood today....$42 psf./two story.

They need a ton of cleaning up inside -- I peeked when I saw the "House renovator" truck pull up. The guy said this is par for the oucrse these days...."for some reason people get angry at their house" as he shrugged his shoulders.

Walls bashed in....carpet and wood flooring torn up...apliances trashed (sorry for the pun). Scary stuff. I don;t think this is as "bullish" as Wesbury says it is. Guess I grew up in a different era...with different values.

Wed, 07/11/2012 - 15:58 | 2607475 Mark Carney
Mark Carney's picture

Alright ZH you know what to do.  Full frontal attack on this douches twitter.


I could not even finish watching that, what did Krugman shit this guy out one morning and forget to flush??

Wed, 07/11/2012 - 16:27 | 2607603 I think I need ...
I think I need to buy a gun's picture

if i'd had listened to this guy 5 years ago, 4 years ago, 3 years ago i would be bankrupt, broke and busted,,,,,,,

Wed, 07/11/2012 - 22:49 | 2608748 TruthInSunshine
TruthInSunshine's picture

His track record is lower than The Hon. Jon S. Corzine's conscience.

He'll say that he did well with his non-stop equity market bull case since the "Doug Kass" bottom of 2009. Of course, any permabulltard, including the incontinent and senile Barton "Smallie" Biggs, did just as well during that special and unique period of unprecedented targeting of equities by Bernanke, Geithner, Dewey, Cheetam & Howe, PLLC (using trillions in deficit derived and freshly conjured fiat, doled out to the best friends forever of the New York Branch of the Non-Federal Reserve-less Non-Bank).

If you peek under Brian's skirt, and back before that 'bold call' and constant refrain of his regarding the way back lucky strike in 2009, he's a one man wrecking crew of wealth destruction.

I have my notes somewhere on his past calls on particular equities and the market in general, and will post them when I find them, but suffice it to say that Brian is all bull 24/7/365, and for the past 13 years, the last time equity markets were around this mark in NOMINAL TERMS (not counting the roadkill that went to $0 or has been delisted that he had high hopes for), and about 60% lower in REAL TERMS.

They don't call these secular bear markets for nothing, Brian. You stay classy.

Wed, 07/11/2012 - 16:46 | 2607669 Rasna
Rasna's picture


The government is spending?  Where's the money coming from?

Wed, 07/11/2012 - 15:50 | 2607409 stocktivity
stocktivity's picture

....and up we go into the close....It's all Bullshit!!!

Wed, 07/11/2012 - 16:08 | 2607520 Sofa King Confused
Sofa King Confused's picture

Mr Wesbury,


As I have enjoyed your video, and with it, the inifinite wisdom about the markets and the economy, I implore you sir, to please STFU!

Wed, 07/11/2012 - 15:52 | 2607432 FMR Bankster
FMR Bankster's picture

What's happened to Westbury is very common on the street. He started out knowing what the hell was going on (very strong supporter of Austrian economics)and as he needed to maintain a job in the business he's turned into a perma bull. He once told me he had read Mises Human Action twice cover to cover (that was in the late 90's). Looks like he could use another refresher course.

Wed, 07/11/2012 - 17:10 | 2607574 vast-dom
vast-dom's picture

what he sees is the cloud of hopium just obscuring the fast-running zombie about to rip his fat fucking face off!

Wed, 07/11/2012 - 15:51 | 2607419 ZeroChance
ZeroChance's picture

Got Delta Bravo?

Why, yes, yes we do here.

Wed, 07/11/2012 - 16:01 | 2607489 ZeroChance
ZeroChance's picture

He's right, LOL, there's so much "good" that has come....

- Fracking (straight face? bravo!)

- FaceBook's "billions" (Muppet losses? Squid gains? vaporized retail market)

- and so on....

Seriously though, what was the thesis that he was trying to put together here that "Zombie" economics is conventional thinking ... really?!  That don't forget about entrepeneurialism and innovation .... that government is a problem ...... DUH?!  The people that know it's a zombie economy need to hear these words of wisdom from you?

Good thing it's a "101" program, can't wait to see what your upper-level bullshit sermons will be about later...

Wed, 07/11/2012 - 15:55 | 2607452 Stoploss
Stoploss's picture

See??  Full moon retards travel in packs..

Two more days.

Wed, 07/11/2012 - 15:56 | 2607457 Unprepared
Unprepared's picture

Thanks to people like this, I have a stonger conviction I'm right (i.e. the reset is coming)

Wed, 07/11/2012 - 16:18 | 2607568 The trend is yo...
The trend is your friend's picture

someone actually pays this guy for advice?

Wed, 07/11/2012 - 16:25 | 2607589 Eireann go Brach
Eireann go Brach's picture

This Paul Krugmans son in law, he has been mentoring under the nobel prize winner since 2008!

Wed, 07/11/2012 - 17:48 | 2607899 slaughterer
slaughterer's picture

Be a contrarian.  Be a mindless bull.  

Wed, 07/11/2012 - 18:27 | 2608073 banksterhater
banksterhater's picture

Second biggest, wait... 3rd biggest idiot arsewhole to Joe LaFornicia and Ron Insomnia.

Wed, 07/11/2012 - 15:43 | 2607370 Ivanovich
Ivanovich's picture

The fact that the word "Trust" is in any financial institution whatsoever is paramount to fraud.

Wed, 07/11/2012 - 15:58 | 2607467 Unprepared
Unprepared's picture

They don't call them anti-trust laws for nothing.

Wed, 07/11/2012 - 16:17 | 2607564 MillionDollarBoner_
MillionDollarBoner_'s picture

"paramount" - did u mean 2 say "tantamount"?

Friggin' Yanks, destroying our language - keep it up and we'll come take our country back... 

Wed, 07/11/2012 - 16:32 | 2607619 EvlTheCat
EvlTheCat's picture

Right, and cockney is the pinnacle of vernacular achievement.  Get bent.

Wed, 07/11/2012 - 15:44 | 2607372 Aziz
Aziz's picture

Fucken permabulls don't know shit.

Wed, 07/11/2012 - 15:58 | 2607473 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

permabulls, permabears, anyone putting shemselves in a catagory is a dumbass.  Economics relies on the "rational consumer model" and fiat "money".  Anyone thinking inside the system is an idiot.

Wed, 07/11/2012 - 15:44 | 2607378 surf0766
surf0766's picture

If he thinks it true, it will be

Wed, 07/11/2012 - 15:49 | 2607403 TheFourthStooge-ing
TheFourthStooge-ing's picture

"the 28th consecutive month of job growth"


Wed, 07/11/2012 - 18:36 | 2608097 banksterhater
banksterhater's picture

We're bleeding 375K a week but 75K a month will do for these assholes and Westburied-my-head-up-there keeps spouting off. STFU!

Wed, 07/11/2012 - 15:49 | 2607381 Praetorian Guard
Praetorian Guard's picture

Who the F is the tool in this video?!?!?!?!?! God damn, so many people playing the Obama skin flute! He is desperate for your money... which he will promptly keep when it goes south...

FB created billions in wealth? Bwahahahahaahahahahahahah....

This guy is a used car salesman... maybe he works for Leman...

Wed, 07/11/2012 - 15:46 | 2607383 razorthin
razorthin's picture

I suppose the zombies on the floor agree.  Look at the end of day ramp once again.

Wed, 07/11/2012 - 15:49 | 2607404 Hopium Dealer
Wed, 07/11/2012 - 16:11 | 2607490 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Official President's Working Group on Financial Markets Executive Order:

Wed, 07/11/2012 - 15:46 | 2607387 Ineverslice
Ineverslice's picture


Wed, 07/11/2012 - 15:48 | 2607396 adr
adr's picture

So I can walk into any bank, ask for $1 million and walk out with the money?

Or is it that what the stock market's job is. I put $10k into stocks and Facebook makes me a millionaire. IT'S SO EASY. Why doesn't everybody do it?

Wed, 07/11/2012 - 16:12 | 2607545 CrimsonAvenger
CrimsonAvenger's picture

We should tell all the poor people about this. I bet they'd want to know.

Wed, 07/11/2012 - 16:20 | 2607575 MillionDollarBoner_
MillionDollarBoner_'s picture

but, but, but...then they wouldn't be poor any more...

Wed, 07/11/2012 - 15:49 | 2607397 Tirpitz
Tirpitz's picture

As long as 'the economy' equals tax evading 'international corporations', things look dandy for sure. After all, profits are at record heights.

If we count in the countless tax paying sheeple, however, we may be in for a major surprise. Disposable income keeps declining without end in sight.

Wed, 07/11/2012 - 15:49 | 2607401 Conman
Conman's picture

I subscribe to the PPT theory of buying anything at 3:30. Ah what a wonderful theory, works 100% of the time and is sanctioned by god himself.

Wed, 07/11/2012 - 15:49 | 2607408 HD
HD's picture

He's the antidote common sense.

  With seemingly endless redemptions - I can't help but wonder how so many of these funds are still in business...

Wed, 07/11/2012 - 16:02 | 2607411 BlackholeDivestment
BlackholeDivestment's picture

...this guy thinks he's gonna escape the robot, by becoming one.

Wed, 07/11/2012 - 15:50 | 2607416 LongSoupLine
LongSoupLine's picture

Total fucking asshole...should be Madoff's anal toy along with the rest of the fucktard sell side permashitheads.

Wed, 07/11/2012 - 15:50 | 2607417 MunX
MunX's picture

How much is Romney paying this tool.

Wed, 07/11/2012 - 15:51 | 2607421 sbenard
sbenard's picture

Apparently, ES traders believe him! The Pollyanna Party continues, even apart from reality!

Wed, 07/11/2012 - 15:51 | 2607422 stant
stant's picture

zombie guns and bullets are selling big time. citizen spending vs consumer spending. one of his so called good things in the economy

Wed, 07/11/2012 - 15:52 | 2607425 Hype Alert
Hype Alert's picture

3:30, right on queue.  Confidence in the machines, I mean market, is unbelievable.

Wed, 07/11/2012 - 15:52 | 2607427 Bunga Bunga
Bunga Bunga's picture

Zombies' wealth will trickle down.

Wed, 07/11/2012 - 15:53 | 2607431 Vincent Vega
Vincent Vega's picture

Well we now know RobotTrader's true identity.

Wed, 07/11/2012 - 15:54 | 2607445 surf0766
surf0766's picture

We do? /s

Wed, 07/11/2012 - 15:57 | 2607439 Dr. Engali
Dr. Engali's picture

What an idiot. If the economy is so good why do they need ZIRP soon to be NIRP and other programs? Facebook created billions of dollars of wealth? For who Wesbury? Had we not done mark to market?  Are you kidding me? I suppose mark to myth works for you? If one accounting rule change can bring down the whole financial system,don't you think that system is unstable to begin with? What a turd.

Wed, 07/11/2012 - 16:25 | 2607592 MillionDollarBoner_
MillionDollarBoner_'s picture

mark to myth? U lack ambition. Mark to Infinity is the way to go ;o)

Wed, 07/11/2012 - 16:28 | 2607605 GubbermintWorker
GubbermintWorker's picture

Might as well, its all a big fucking lie anyway!

Wed, 07/11/2012 - 15:53 | 2607442 slackrabbit
slackrabbit's picture

He wants to be ' the antidote to conventional wisdom'.

He has succeeded.

Thank god he’s not in medicine and only manages other people’s money…

This is what happens when he's off his lithium.
Wed, 07/11/2012 - 15:53 | 2607444 LawsofPhysics
LawsofPhysics's picture

Funny how when it comes to eating or buying fuel, your "assets" are always marked to market.  What a fucking tool.  Yeah, I wish I could play the fucking accounting games these financial fucks and banks play.

Wed, 07/11/2012 - 15:54 | 2607446 Coke and Hookers
Coke and Hookers's picture

There's a lot of people wearing suits and enoying a nice income that should be digging ditches or cleaning sewers if intelligence had anything to do with job career.

Wed, 07/11/2012 - 16:27 | 2607599 MillionDollarBoner_
MillionDollarBoner_'s picture

Pol Pot - is that you?

Shit, the guy was right after all!

Wed, 07/11/2012 - 16:41 | 2607646 Coke and Hookers
Coke and Hookers's picture

Pol Pot didn't believe in meritocracy, only purity of ideology.

Wed, 07/11/2012 - 16:44 | 2607637 Tidewater
Tidewater's picture

Yeah, he needs to get out of the investment-management business as soon as possible. It's all fun and games in the seminar room but this guy thinks and talks like a supercharged money-losing machine. Fortunately (for First Trust's unsuspecting 401-k participants), he's just an economist -- cleared for mouthing off only. They don't let him near investment decision-making. But still.

I might let him paint my shed if he took that stupid tie off. And promised not to share his idiotic market insights.

Wed, 07/11/2012 - 15:54 | 2607447 J 457
J 457's picture

In other news, look at the impressive ramp job on no news at 3:30. 

Wed, 07/11/2012 - 15:56 | 2607454 Praetorian Guard
Praetorian Guard's picture

I was just going to say that. Perhaps every trader watched his video, all is well, move along...

Wed, 07/11/2012 - 15:55 | 2607450 GubbermintWorker
GubbermintWorker's picture

 The government is too big...I'll give him that one but that's it.

Wed, 07/11/2012 - 15:58 | 2607474 Hopium Dealer
Hopium Dealer's picture

When a banker saids, "Government is too big" it can be translated into "We need less regulations to steal even more."

Wed, 07/11/2012 - 15:59 | 2607477 slackrabbit
slackrabbit's picture

Actually that was Bob in IT who slipped that line in to the telepropter ;-)

Wed, 07/11/2012 - 15:57 | 2607460 alfred b.
alfred b.'s picture


   Someone have any idea which country this idiot is talking about???



Wed, 07/11/2012 - 15:58 | 2607478 GubbermintWorker
GubbermintWorker's picture


Wed, 07/11/2012 - 16:08 | 2607521 slackrabbit
slackrabbit's picture

Maybe its a projection from a parallel universe like The Secret World because he's cleary not in our reality. Its either that or he's been sniff Bernake's musk


Wed, 07/11/2012 - 15:58 | 2607466 Snakeeyes
Snakeeyes's picture

We are beyond a tipping point where the TAKERS outnumber the MAKERS and Obama is cheering more taking. Hence BIGGER government.

Wed, 07/11/2012 - 15:59 | 2607479 disabledvet
disabledvet's picture

What? What? What's the problem here? I'm shocked at the outrage here! Someone has to take the stupid side of the trade. He looks as good as any.

Wed, 07/11/2012 - 16:14 | 2607554 slackrabbit
slackrabbit's picture

lol Whats the bet he's just brought a shitload of Greek bonds.

Wed, 07/11/2012 - 16:01 | 2607482 SmoothCoolSmoke
SmoothCoolSmoke's picture

Brian is just addicted to being on Kudlow.....  so he's got to spew this type of "analysis" so he won't lose his spot to Bob Doll, or Art Hogan, or Kudlow's other Perma-bull WS tools

Wed, 07/11/2012 - 16:01 | 2607488 EndGamed
EndGamed's picture

Everything is so controlled by so few, the market manipulation is so brazenly obvious, its a slap in are face.

Wed, 07/11/2012 - 16:02 | 2607492 disabledvet
disabledvet's picture

Seriously tho..."what is the potential interest rate on LIBOR?" I ask this not because I know but because if it is say...10,000 percent?...then "this would make all that derivative crap a lot more manageable" would it not?

Wed, 07/11/2012 - 16:02 | 2607500 Quinvarius
Quinvarius's picture

First panic in 100 years?  AHAHAHA!  Man this guys is just schilling for the Fed on their 100th anniversary.  Man that made me laugh.

Wed, 07/11/2012 - 16:03 | 2607506 q99x2
q99x2's picture

Anything close to truthful accounting would cause a collapse back to the stone age at this point.

Wed, 07/11/2012 - 16:08 | 2607516 narnia
narnia's picture

There's a tank on the horse with a nuclear bomb strapped to the side.

Wed, 07/11/2012 - 16:14 | 2607523 AgK9
AgK9's picture

This guy is at an all-time high.  Dude, put down the doobee!

Wed, 07/11/2012 - 16:30 | 2607552 Cult_of_Reason
Cult_of_Reason's picture

This is fucking hilarious.

 Brian Wesbury has an amazing talent for his ability to get everything wrong. Usually, even bad forecasters get something right occasionally (like Joe LaVorgna), even if it is by accident, but not this retard, not Brian Wesbury.

Wed, 07/11/2012 - 16:35 | 2607630 Bear
Bear's picture

Not everything ... the Goberment spends too much; he is right about that

Wed, 07/11/2012 - 16:15 | 2607559 silverserfer
silverserfer's picture

I once saw a unicorn

Wed, 07/11/2012 - 16:22 | 2607581 Dr. Richard Head
Dr. Richard Head's picture

With a leprechaun jerking it off... That is my analysis of today's vlog excerpt.

Wed, 07/11/2012 - 16:25 | 2607587 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That was just Paul Krugman.

Wed, 07/11/2012 - 16:17 | 2607563 tekhneek
tekhneek's picture


I can see it now.

Wed, 07/11/2012 - 16:19 | 2607571 tekhneek
tekhneek's picture

CFTF=Center For Timmmmmmmehhhhhh (to get) Fuuuuuuuuucked

Wed, 07/11/2012 - 16:22 | 2607582 oddjob
oddjob's picture

Old bald men with goatees are emberassing for everybody.

Wed, 07/11/2012 - 16:29 | 2607606 the 300000000th...
the 300000000th percent's picture

what is he selling?


Wed, 07/11/2012 - 16:30 | 2607611 Diesel Seven
Diesel Seven's picture

I just LOVE IT when ZH posts a Brian Dingleberry video . . . the comments are the best. I think he really believes this shit. His Monday morning newsletters are a great read as well and usually provide some well-needed shits-and-giggles. . .  

Wed, 07/11/2012 - 16:31 | 2607616 Quinvarius
Quinvarius's picture

He just can't admit the economy stinks and stocks have only risen on printing.  He needs to make people believe the stock market is up on actual economic strength--Even as the system is clearly about to implode without even more QE.

Wed, 07/11/2012 - 16:31 | 2607617 maw53704
maw53704's picture

If one accepts the zh accepted world macro economic forcast, is it possible to create a "bullish mixed portfolio" at todays prices. ( metals, short euro positions already at maximum portfolio limits)

Wed, 07/11/2012 - 16:34 | 2607626 the 300000000th...
the 300000000th percent's picture

"facebook has created billions of dollars of wealth" LOL, fishbook or better yet governmentbook has crrated billions of hours of worker unproductivity from people checking their status in cubicles across the globe

Wed, 07/11/2012 - 16:43 | 2607655 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

"facebook has created billions of dollars of wealth"

Yep, and Groupon has taketh away.  Looks more like net zero to me and I'm probably being generous.

Wed, 07/11/2012 - 16:42 | 2607651 alamoillini
alamoillini's picture

How long will Mr. Westbury continue to be the Chief Economist of First Trust???  Brian is on "glue" or some other substance that is providing him these psychotic hallucinations he calls economic analysis.


Wed, 07/11/2012 - 16:59 | 2607717 Heroic Couplet
Heroic Couplet's picture

Republican tax cuts have been in place for 11 years. The jobs sent offshore in wage arbitration are not coming back and are not being replace. If you voted for Bush and you're now unemployed, you voted against your own self interest. By all means, keep voting Republican

I'd like to see the bullcrap derivative products created at the repeal of Glass-Steagall. Total up the dollar amount of damage and charge it to Phil Gramm. Toss him in prison and let anyone who has a complaint see Phil in prison. The Finance Sector should shrink to 1950 levels.

Wed, 07/11/2012 - 17:03 | 2607737 orangedrinkandchips
orangedrinkandchips's picture

People do not show up to a baseball game in the 3rd inning....

People do not show up to a concert half way through.


I cant help but feel it's '82 all over again....THE MARKET WILL REBOUND WELL BEFORE THINGS TAKE OFF.....just how it happens.


If we get the HNIC and/or anyone who is anti-busness out of the offices and get someone who LIKES BUSINESSES in...then we can move on....


HEY OBAMA......CANT BEAT EM...JOIN EM.....Stop fighting the Coprorations.


Innocently I feel that businesses go awwry like we have seen for the sheer fact that they are so into red tape, making money takes 3 times the effort. Hence, they cheat, lie and steal.


Downside the govt....make it easey for businesses so they dont have to resort to violence to make money!


It trickles down....i never use to buy into it but I think I was wrong......


Instead of working with these guys you drive them to screw the rest of us.....

Wed, 07/11/2012 - 17:33 | 2607833 Silver Surfer 1985
Silver Surfer 1985's picture

Met the guy at a conference at which he was speaking in Fall of 2010. He claimed to be an 'Austrian', but pooh-poohed gold & silver at the time due to 'all of the monumental accopmlishments of the current fiat system'. He knows well what he is peddling. I went over to his table before the conference to quiz him about metals, mark-to-market accounting, POMO and other zerohedge-type issues under the current keynesian farce we have been experiencing since at least August 15, 1971; he spilled his iced tea all over his table he was so intimidated by my comments. Westbury knows he is a shill for fiat and Keynesianism, but absolutely does not care until he is confronted with facts, then he poops in his pants when reality is laid out before him. He knows deep down that Austrian economics will eventually 'right' the markets skewed by malinvestment for decades. Don't take him too seriously as Tyler points out.............

Wed, 07/11/2012 - 17:33 | 2607838 Piranha
Piranha's picture

so now zombies speak, interesting

Wed, 07/11/2012 - 17:40 | 2607859 johnberesfordti...
johnberesfordtiptonjr's picture

Brian Wesbury, the 'Bubble Blower Extraordinaire' attempts to inflate yet another one. This guy was responsible for vast wealth destruction in both the and housing bubbles. He is only superseded by Abby Joseph Cohen in this regard. Take note, he is a Sheeple Savings Confiscator.

Wed, 07/11/2012 - 17:42 | 2607873 theTribster
theTribster's picture


Wed, 07/11/2012 - 18:59 | 2608159 lucidwanderer
lucidwanderer's picture

boring....plow horse?  excuse me but this is a totally maniuplated situation no sensible "plow horse" would pull for.  go back to sleep goof ball.  btw the reference to being an (if ultimate) arbiter of truth reminesces of jacking off in the shower.  i used to do that when I watched CNN thanks.


Wed, 07/11/2012 - 19:24 | 2608209 Shizzmoney
Shizzmoney's picture

His accent tilts me.  Very nasal.

Also, his commentary is so hackney and trite.  I've never invest with this fucking guy. 

"The only reason why the US Economy is stable (despite rising gas prices, stagnant job and income growth) is because of entreprenuership".  Well, yes, it should be.

But not because of government policy, entirely. During this period, small business growth has come to a complete halt at its lowest percentage levels, ever (despite Obama cutting taxes 18 times for small businesses; why hasn't this worked? Oh wait, he doesn't control the currency, I forgot). 

Who controls currency policy? Fed/TBTF banks.  The US Government, contrairly to your belief, doesn't control the handles of the spigot.  It doesn't even direct the spigot; it as of now is essentially the drain, and it's getting clogged up....and instead of focusing on how it got clogged up (shitty water/shitty speculative debt by FDIC insured bank...also military govt waste), we just want to "fix the drain" so we can keep the dirty spigot running. 

The Fed simply refuses to print to the big banks who refuse to lend to the people who help the economy. Bank of America, who recently annouced layoffs of 700 people at it's commerical banks to raise 9bil in capital, says it wants to focus on the rest of the year "lending to small-to-mid size businesses".  Um, you didn't think about doing that AFTER the Fed and the US Govt basically handed you free cash and Countrywide on a platter? That would interfere with your bonuses, I forgot.

The majority of small business lending during this period, has been by smaller banks and credit unions in their own communities.  Which is how we get out of this mess. 

Unfortunately for us and small business, Jaime Dimon has a 20 billion dollar "hedge" on corporate debt he has to pay for.

The risakverse bastards refuse to acknolwedge this, and think by letting money sit in JPM while its stock "magically goes up", will spur on economic growth. 

And the only thing it spurs is fascism.


Wed, 07/11/2012 - 20:46 | 2608432 jomama
jomama's picture

where's ol' bobby brusca when this fella needs him?!

Wed, 07/11/2012 - 23:04 | 2608789 Gift Whores
Gift Whores's picture

Westbury is my opiate on a down dow.

Thu, 07/12/2012 - 00:24 | 2608940 cobra1650
cobra1650's picture

You should have seen this guy's bullshit commentary from 1H08.   Same useless, spin, nonsensical, fuckbrain, frontrunning, "everything is fine" propaganda.  Fuck Westbury and his worthless, bald, 3 inch dick.

Thu, 07/12/2012 - 02:26 | 2609086 Peter K
Peter K's picture

It's all about separating the wheat from the chaff.

Spot on about the Government burden placed on the private sector.

Thu, 07/12/2012 - 03:38 | 2609122 pamriallc
pamriallc's picture

He is supporting FirsTrust. Their products pay a 3-4% commission to the stockbroker and then around 100-150bps internal management expenses. Keeping everyone in their seats is very, very profitable. These "trusts" roll over every 3 years for more rollover commissions, too...

Having said that, it doesn't make Wesbury completely incorrect. He is quite the anti-Krugman guy, and would very much like the government to stop getting in the way of private enterprise. The system did need a large adjustment at the end of 2007 and I don't agree with him on marked to market. Had we done a ECB and allowed everyone to hold worthless stuff at PAR the USA would surely be completely done by now.

That initial cleansing is why we are not YET where Europe currently is today. TARP actually worked. The rest of the stimulus borrowing and spending did not work. TARP may have saved America it's life savings. The $5 trillion in borrowing is what left everyone a lot worse off.

The initial $700BLN to make sure that the nations savings weren't vaporized? Probably not a bad idea in hindsight. The $5 trillion in Obama stimulus borrowing while giving away more free government cheese? Incomprehensible. Vote this Fall. "Anyone but the "O" Man"

Thu, 07/12/2012 - 10:38 | 2609826 Chopes
Chopes's picture

I don't think he even believes himself

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