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"To Have And Have Not" - Complete Jeff Gundlach Presentation
Earlier today, DoubleLine's Jeff Gundlach's held another of his comprehensive overview webcasts, which unfortunately we missed due to the excitement in the Senate Ag Committee where Duffy "let one slip", however for the benefit of our readers we wanted to share the complete 72 page presentation as it covers diverse and critical topics in every aspect of the domestic and global economy.
Full powerpoint:
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To bitch or not to bitch, that is the question bitchez!!!
Whether 'tis Nobler in the arse to suffer
The Slings and Arrows of outrageous Fortune (ouch)
Or to take arms against a sea of troubles
You tell me!
Was you ever bit by a dead bee?
http://www.youtube.com/watch?v=QSgqrrWyF0Y
yeah,hurt more than if I knew it was alive-Hahaha
If W. Bush, H. Paulson, B. Bernanke, T. Geithner and Barack Obama have used the line....
"If we don't do this NOW! The whole global economy will collapse tomorrow!"
....then how come no one from our government has proposed some type of plan for what happens WHEN the economy collapses?
OT: Nothing we didn't already know but....
National Association of Realtors has been inflating home sales numbers since 2007
http://www.cnbc.com/id/45659547
redpill's mention back in February: http://www.zerohedge.com/article/dollar-plummets-expectations-qe3-spread#comment-988665
Nice I was just going to post this. Are there any numbers that haven't been f'd with?? My goodness just give me the truth!
The truth is 2007 existing sales were overstated by about 15%, 2008 by 21%, 2009 by 30%, and 2010 33%, based on my calcs. We'll see what they come back with when they release their "revision."
Tyler can you write up a quick piece on another one of the most rotten corrupt groups of people in America..the National Association of Realtors!..Here is CNBC's headline LOL..Realtors: We Overcounted Home Sales for Five Years! http://www.cnbc.com/id/45659547
Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.
You can't make this shit up!
Ha! If they admitted to double-counting, then quadruple is more likely.
I'd estimate 2007 was overstated by about 15%, 2008 by 21%, 2009 by 30%, and 2010 33%.
Alternate calculation with slightly different approach puts them at 20%/24%/28%/30% overstate from 2007-2010, respectively.
That means in 2007 they overstated by 1.13 million sales, in 2008 1.17 million sales, in 2009 1.47 million sales, and in 2010 1.46 million sales.
Amazing ain't it?
May I add this link to apparently the calculation of how much overstatement http://www.calculatedriskblog.com/2011/12/lawler-on-nar-revisions-for-20...
Ha Ha ! More proof...if it looks like a number, quacks like a number and waddles like a number, TPTB will wring its neck.
Re You can't make this shit up!
Of dear - the dreaded Split Infinitive rears its ugly head again.
Try using: You can't make up this shit!
or how about this way Frankie mc Fuckface, your wife is so ugly she puts shit on her face as make up and it actually improves her looks!
"of dear"? this is the kind of pedantry up with which we will not put. (w.s. churchill as source)
Pretty much reinforces reality for many
Phys Silver .2%
Phs Gold 2%
bullets 40%
guns 65 %
food & water 3 mth 2%
401k 65%
Have or Have not
Re bullets 40%...guns 65 %
Does this mean that 25% have guns but NO bullets?
The only way to bag a classy lady is to give her two tickets to the gun show....no bullets needed there
you had us at "bag a classy lady".
Ding ding ding Give that man a cigar!
Yes sir... most of the U S public have some sort of a fire arm ... Just dont think about stocking ammo
72 pages? I just need three words: "we're all f*cked!"
Hmmmm.... that might in fact be 4 words as we're = we are
Nevertheless, the sentiment comes thru loud 'n clear ;)
You are fucking Troll!
Eireann go Brach
Agreed 100% +1
panfluit blowing jackass ...
smoke that exploding cigar
67% In favor of increasing taxes on higher income Americans
Not that the government machine will spend it any more wisely. I'm sorry but giving the government more money =/= the average guy isn't going to continue getting screwed.
61% In favor of a surcharge on income of >$1 million
How about we start with taking them off the dole first, and then we can talk about a surcharge.
81% Not in favor of major cuts to Social Sec. & Medicare
81% Of people surveyed are in denial.
51% In favor of cutting defense spending...
Now HERE is a statement I can get behind! If we are going to give our drones away, I don't want to pay for them anymore.
The middle class is next on the tax raising list. Do you think the growing underclass (that can't even feed themselves) is going to spare them at the voting booth?
They'll regret they even raised the issue.
i have faith congress will solve the 2015 debt burden, now scheduled to be over 23 trillion. yes, 3 years away and the u.s. debt will be over 23 trillion:
http://usdebtclock.org/2015-current-rates.html
Yes, usdebtclock.org has US debt at $23.8 trillion and unfunded liabilities at $143 trillion by 2015. Gundlach has 2015 US debt at $20 trillion. I would bet on usdebtclock.org
USdebtclock.org has data for this day in 2015. So it is exactly 4 years away. Gundlach may be talking about January 1, 2015. That may explain some of the discrepancy,
thanks for just observing.........
i find this interesting too
Realtors: We Overcounted Home Sales for Five Years
from CNBC clowns http://www.cnbc.com/id/45659547
greta von susteren looks like bill gross, or at least related, she makes me wanna puke. todays antics are pretty pukey too.
I thought crash or print, but its more print but no announcement then crash just because, then announce to print jumboooooo.
Bills actually (as it seems) a mild straight shooter, cant argue with that. I rikey.
faraaaraaaraaararaaaaah.......youll shoot your eye out kid hahaha
Abandon ye all hope
79 pages? WTF kind of time do you think I have Tylers. Bitch hoops on ESPN currently.
That sure is a funny-looking kitchen.
Don't worry, your feeble minds will be focused on the Middle East soon enough. MF Global is much like Enron, but at a larger scale. Larger problems entail colossal intervention to create distractions by steering the serfs away from financial fraud headlines.
75% BBB+ or below bonds in the Total Return Bond Fund Portfolio? Greece? Italy? New Jersey? CA? A little scary looking but...
Nice charts, and choice of photos.
The huge disparity of income, non-participation rate for labor, and food-stamp roles do not bode well for anyone.
Slightly OT, but:
"Realtors: We Overcounted Home Sales for Five Years"
http://www.cnbc.com/id/45659547
Seems that they are going to revise home sales figures from 2007 to October 2011 way down next week. According the article "the housing market is far worse than previously thought."
So, to recap... the paper economy is fooked, gold has proven to be a good bet, give us you money and we will put it in paper assets... WTF???
It seems to me we have a problem in this country with our disturbing proclivity to tolerate lying .and even admire clever liars. Now if you are shocked by these words and repulsed by this graphic use of the word LIE, you should do some self examination to determine why that is. I have noticed that this word has all but disappeared from our language and has been replaced by a constantly changing variety of euphemisms such as"misspoke", etc, especially when dealing with politicians and the economic elite. Watching the LYING, excuse me dissembling, of the esteemed second panel at today's AG committee hearings has unfortunately set me off. The amount of LYING was rather copious and indeed unending from the time the questioning of the esteemed executive threesome began right through the end. Interestingly the LYING consisted of bothe LIES of commission and omission, ad nauseum, with Mr. Corzines answers invariably being so baffling and disjointed as to derail rather completely the mental processes of his questioner. My question to myself and now rhetorically is WHY DO WE TOLERATE THIS? I mean as a society. Is there something wrong with US?? Collectively are we as corrupt as these two classes seem to be? That we tolerate this time and time again?
"....and even admire clever liars."
You mean by that elected officials and lawyers, right?
Remember Clinton facing the TV camera and repeating that he never had sex with Monica....that is provided one's definition of sex does not include BJ's in the offal office....
Or, perhaps the WMD's not found might be considered a lie? Or the Gulf of Tonkin incident? Or maybe even The Main?
We have a long history of being lied to by our elected officials. Personally I do not think much has changed, but now we have the internet where the truth can be posted for all to see. Before we were totally at the mercy of the press.
"WHY DO WE TOLERATE THIS?"
I often have wondered about this question. About the only answer I can come up with is our whole culture, at most every level have become corrupt and filled with lies.
A good basis for this culture of corruption comes from the idea of the "carrot on the stick" coupled with the idea that people don't want to reel in the corruption just in case they get lucky and advance high enough on the ladder to then participate in the corruption themselves. When this happens, they don't want anyone stopping them from defecating all over everyone below them while raking in the dough. After all, they were just doing what everyone else was doing.
This culture of corruption has been building for some time and it is based heavily on hierarchy and authority from the top. It's kind of like the Lawful Evil alignment in Dungeons & Dragons, which seems to be the cultural view of many of the more stupid, selfish and conservative elements of the Republican Party (not that Democrat zombies are much better).
This culture of corruption have infused every level of our society and it is one reason I believe this system cannot be fixed. JMHO of course.
Tyler,
this is for you: http://www.cnbc.com/id/45659547
there have been many many posts on ZH that pretty much predicted this... Enjoy!
Oh, and I'm completely shocked, just SHOCKED that home sales were double counted... No one could have predicted this... noone!
Double counting to fool the public, and fool Agents into staying in the business.
NARs (Narcissistic Averaging of Realtors Statistics)
CHICAGO (MarketWatch) -- A sharp drop in investment-home sales offset a record number of vacation-home purchases to bring down the overall share of second-home purchases in 2006, the National Association of Realtors reported Monday.
Anyone know if there's a replay of this? Nothing on DoubleLine's page.
Back in 2007, prices were overstated in some sectors by 40% or more. That is the recipe for economic collapse, of course they needed to move their and then. But I think the consequences of that action might lead to greater economic pain.
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