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Egan Jones On Europe's EUR2.5 Trillion Hole

Tyler Durden's picture

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Tue, 11/08/2011 - 10:45 | 1856245 ZeroPower
ZeroPower's picture

Sorkins almost as much of a joke as Liesman.

Tue, 11/08/2011 - 11:07 | 1856300 bigdumbnugly
bigdumbnugly's picture

thought this was going to be was another article on kim kardashian.


Tue, 11/08/2011 - 11:38 | 1856475 LuKOsro
Tue, 11/08/2011 - 14:41 | 1857394 smlbizman
smlbizman's picture

so were all the glitches in the video there this morn???

Tue, 11/08/2011 - 11:01 | 1856315 prodigious_idea
prodigious_idea's picture

Yep, Sorkin is a real Boy Scout that is way out of his depth in his new role as financial commentator.

Tue, 11/08/2011 - 11:11 | 1856350 Ruffcut
Ruffcut's picture

That hole is no joke. The best way to fill that hole is with the bodies of bankers, cover it lime, and plan for a new plan.

Tue, 11/08/2011 - 12:09 | 1856651 chubbar
chubbar's picture

They can finger fuck this problem into oblivion with all their complicated financing and bullshit but it always comes back to the same thing it has always come back to, PRINT or DEFAULT. That is it in a nutshell and everyone knows it. Printing still results in the demise of the current monetary system, just takes a bit longer. Why oh why can't these guys sit down and figure out the next system without totally fucking over everyone on the planet in the interim?

Tue, 11/08/2011 - 13:29 | 1856956 knukles
knukles's picture

I watched that this a.m. when I saw Egan.  He's giving an absoltely beautiful well thought out answer to a question asked... what's the way out, and that littrle pissant Sorkin kept interrupting him.  And the rest of the panel wanted to redirect to inane who gives a fuck cocktail party chatter. 

Egan Rocks

Should Sorkin pass away, my guess is that the only one to miss him would be his dog, if it hasn't run off out of embarassment, yet.

Tue, 11/08/2011 - 10:45 | 1856246 achmachat
achmachat's picture

i was quite surprised to see this on cnbc... usually cnbc just runs in the background, pretty tickers and all.... but I actually listened to this.

Tue, 11/08/2011 - 10:48 | 1856256 Fred C Dobbs
Fred C Dobbs's picture

Me too.  Why was it on?

Tue, 11/08/2011 - 11:01 | 1856318 Leopold B. Scotch
Leopold B. Scotch's picture


Also known as a shit tornado.

Tue, 11/08/2011 - 11:07 | 1856339 Nothing To See Here
Nothing To See Here's picture

I'll play the devil's advocate here and point out that CNBC also has Peter Schiff from time to time. Only by that, I'll rate them above CNN.

Tue, 11/08/2011 - 11:03 | 1856323 Irish66
Irish66's picture

Taylor, you need the clip of David Faber talking to Egan..."come on Shawn, Jeffries did everything right"

Tue, 11/08/2011 - 10:46 | 1856248 SheepDog-One
SheepDog-One's picture

Ah yes I see, Sean Egan was summoned to pay pennance for his insolence daring to go against the Cardinals of Wall St finance. 

Good he shoved it back in their faces.

Tue, 11/08/2011 - 11:18 | 1856373 Leopold B. Scotch
Leopold B. Scotch's picture

Vid cuts off the explanation for Jeffries...

Tue, 11/08/2011 - 11:41 | 1856487 CrazyCooter
CrazyCooter's picture

Try this one ....




Tue, 11/08/2011 - 11:18 | 1856379 Nothing To See Here
Nothing To See Here's picture

And still, he said that Italy isnt growing because of austerity measures... CNBC probably loved that segment.

Tue, 11/08/2011 - 10:49 | 1856261 RobotTrader
RobotTrader's picture

Markets are in "boom" mode.


Cyclicals like Rockwell up 9% today.

Consumer stocks like Macy's completely shucked off its warning last week, now at 52-week highs.

Where is the recession???

Tue, 11/08/2011 - 10:54 | 1856281 YesWeKahn
YesWeKahn's picture

Again, this has nothing to do with recession. Bernanke's mission has long changed from safe guarding inflation to pumping the market. The US$ is a trash. Then this idiot blames the treasury department for the US$ policy.

Tue, 11/08/2011 - 10:56 | 1856293 Note to self
Note to self's picture

I think RobotTrader is Joe Kiernan.

Tue, 11/08/2011 - 11:03 | 1856322 prodigious_idea
prodigious_idea's picture

Kiernan should join Larry Kudlow's reality show "Cheer Leader".

Tue, 11/08/2011 - 12:55 | 1856839 Shirley Wilfahrt
Shirley Wilfahrt's picture

I think RT is JK's fluffer at best....


Joe Kiernan is going to be one of the first to FEEL THE PAIN....and it couldn't happen to a more deserving piece of shit.

Tue, 11/08/2011 - 11:01 | 1856317 homersimpson
homersimpson's picture

Never take advice from someone who works for Wall Street..

Tue, 11/08/2011 - 11:08 | 1856341 Max Hunter
Max Hunter's picture

Really Robo??   You could ask one of the 45 million people on food stamps.. Or, one of the 25+ million unemployed or underemployed.. Or, you could ask the 50+ million that fear for job security..

You're a fucking clown.. Do you realize there are humans on this earth that need to eat food and protection from the elements?

Tue, 11/08/2011 - 11:15 | 1856358 SheepDog-One
SheepDog-One's picture

Robo is on food stamps and rides the bus, Zerohedge access thru the public library.

Tue, 11/08/2011 - 11:22 | 1856395 fuu
fuu's picture


Tue, 11/08/2011 - 12:57 | 1856849 Shirley Wilfahrt
Shirley Wilfahrt's picture

I like trains, cheap booze, and I tend to carry my belongings around in a bindle....


Does that make me a hobosexual?

Tue, 11/08/2011 - 11:52 | 1856557 topcallingtroll
topcallingtroll's picture

Max doesnt understand that those people cant effect markets.
Those people for the most part didnt, and currently dont, and never will, have the earnings power and consumption to affect our investments.

It is the top half consumption and spending that affects market direction. The bottom 20 percent never mattered in terms of markets and the economy.

I can somewhat sympathise with poor people, but that does not change the fact that their spending patterns are largely irrelevant.

Tue, 11/08/2011 - 11:27 | 1856414 El Viejo
El Viejo's picture

According to the expert on recessions (Lachsman Achuthan), the markets do not reflect a recession until about 6 months into it. That is because the markets are based in part to hype.

Tue, 11/08/2011 - 11:47 | 1856531 quacker
quacker's picture


That’s what you get in pre-revolutionary societies – those who look to the ones benefiting from the ponzi and saying “So what’s the problem?” and those who look at the victims of the ponzi.


Tue, 11/08/2011 - 11:59 | 1856590 topcallingtroll
topcallingtroll's picture

Poor people are more seriously victimized by deflation rather than by unflation or increases in the money supply. Poor people tend to be in debt.

Their plight has nothing to do with the ponzi- like financial system.

They were hosed even worse in the past on a hard money standard. Read William Jennings Bryan and how the poor were sacrificed on a cross of gold.

Your views are grossly over simplified to the point they miss the real issue entirely.

Tue, 11/08/2011 - 12:57 | 1856832 reggiehammond
reggiehammond's picture

Alot of people were asking those questions in nazi germany.......if you lived in small town in Hesse the possibility of Auschwitz seemed remote. The recession in the US isn't reflected in a lot of the economic data because of the source from which it comes. Securities prices emanate from an even murkier outlet (anything involving an interaction between market makers and IB/HFs is real suspect). Same with corporate profits etc. For fuck sake ENron had a buy rating by half of the analysts covering the stock. Simply put, I find it really hard to trust the accounting, data, etc. What was MF Global's quarter like before they went belly up? Did it presage such an event? The DOW could go to 83,000 by noon and it wouldn't change that stark economic conditions that beset the entire fucking globe. I think dipshit investment bankers and corporate types (the ones at these public companies) are trying desperately to have a few more good quarters much in the same way people about to b executed are given a last supper. Hopefully martial law will expedite things. In this new society, survivalists will become the new elite and message boards will be dedicated to how certain people good hunting and eating bark are getting tons of pussy and abusing the system just as does Wall St now.  

Tue, 11/08/2011 - 10:51 | 1856265 qussl3
qussl3's picture

No leverage, no business model.

The ponzi MUST grow or it all goes to hell.

Problem is productive uses for the slosh are running out and incentives are skewed to direct it into the inelastic bits of the economy - food and energy.

Yay fractional reserve.

Kinda appropriate that the Italians might be the ones to bring this particular edition to an end.

Tue, 11/08/2011 - 10:52 | 1856276 vegas
vegas's picture

Thou shall print - fuck the Germans, they have no choice.



Tue, 11/08/2011 - 10:53 | 1856278 Tense INDIAN
Tense INDIAN's picture

forget everng ...watch the dollar.....whatI thought at first as a bull flag ...is now morphing into a Symmetrical triangle...still this has more chance of being a continuos pattern ....and so expecting dollar to go higher after this consolidation .......right now just a as the stocks flew high , the dollar actually touched the lower trend line of this symmetrical pattern .......this coulds also be a iHnS....but the thing is I see a Wolfe wave on the 10 minute dollar charts ...and the dollar is SET for FAST RISE now...and stocks worldwide will go down ....

Tue, 11/08/2011 - 10:55 | 1856286 achmachat
achmachat's picture

go ahead... bet on the ship that's sinking a wee bit slower than the other one.

Tue, 11/08/2011 - 11:17 | 1856366 francis_sawyer
francis_sawyer's picture

Robo isn't faster than the bear... But at least he thinks he's faster than the other guy running from the bear...

Tue, 11/08/2011 - 11:23 | 1856398 SwingForce
SwingForce's picture

and ladle water INTO the boat.....

Tue, 11/08/2011 - 10:56 | 1856287 LawsofPhysics
LawsofPhysics's picture

Saw that too, and as much as I would welcome a strong dollar and the chance to restock certain things my company needs from foreign suppliers, I don't think TPTB will let it happen.

Tue, 11/08/2011 - 11:09 | 1856344 MsCreant
Tue, 11/08/2011 - 11:51 | 1856553 Dingleberry
Dingleberry's picture

Good....let him buy them. No shortage based of them around.  Meanwhile, I'll be sticking to PMs.

Tue, 11/08/2011 - 10:54 | 1856280 LawsofPhysics
LawsofPhysics's picture

Facebook is going to save Italy,  yeah right.  Still pitching that infinite growth model in this finite world, good luck.  Personally, I like the Euro devaluation solution.

Tue, 11/08/2011 - 10:55 | 1856283 NEOSERF
NEOSERF's picture

Trillion smillion, I hear the Japanese have figured out how to do this in the quadrillions...in the world of hole-diggers, they have no peers...

Tue, 11/08/2011 - 12:03 | 1856617 topcallingtroll
topcallingtroll's picture

We are gonna need a bigger calculator.

Tue, 11/08/2011 - 10:56 | 1856289 Oswald Spengler
Oswald Spengler's picture

CNBC is starting to air more truth speakers in a bid for relevance as the the banking system crumbles.

Tue, 11/08/2011 - 11:28 | 1856421 Falcon15
Falcon15's picture

When the MSM starts airing truth, they are doing nothing more than preparing the sheep. Too little, too late, as usual.

Tue, 11/08/2011 - 10:57 | 1856294 GeneMarchbanks
GeneMarchbanks's picture

Sorkin is a little bitch.

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