This page has been archived and commenting is disabled.
... Because when it comes to forecasting, central planners rock.
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
I'll go with this longtime goldbug's prediction for the EU economy over Mario's.
Spain.
Because if we eliminate the MRI and the blood tests, then we won't have cancer!
Well, once they kill off the private financial industry, there won't be any need for credit ratings other than, "How much austerity for you today, sir"
*********************
IMPORTANT REMINDER:
Austerity never really happens
until AFTER the war starts.
*********************
Not ever. Not even once. Mario knows this.
Do you mean kinetic peace action?
War is a horrible word. Obama and Sarkozy bombing for peace.
http://azizonomics.com/2011/11/24/kinetic-peace-action-2/
I mean there will be no real austerity, but there will be Eurobonds.
this comment @Hedgeless
You know, your quip is very cute, and on some levels there is some truth there. But can you honestly say when USA gets downgraded and the French banks carrying 500times more horse crap as collateral keep getting a free pass from the S&P that the agencies are doing their job???
Maybe Tyler Durden loves to throw rotten oranges from the cheap seats at central banks in the middle of a crisis (because it helps Durden's goldbug narration???), and the ZH dittoheads follow, but some of us like to look at things at a deeper level.
Frankly, I think Draghi acts with more class than most the people on this blog, and solving problems he didn't create.
No, I cannot.
I look forward to your "deeper level" analysis. Where and when can I expect to read it, or is this it?
We may not have much "class" around here, but even an old horeseman understands there is a price for peace in Europe. However, I do wish that just once the banking class had to pay their fair share.
Mario's same old solution of socializing the losses and privatizing the gains just doesn't sell well on this blog, no matter how much smoke and mirror he uses.
Kind of like the pot/kettle story, isn't it Ted?
ted k......honest question, did you give yourself the only up arrow?
These fractional reserve charlatans are all the same.
They are absolutely horrid at forecasting the economic weather, of which they claim they can exert some control over (if they're just given enough access to pockets of taxpayers via The Treasury).
Ben Bernanke Telling All of Us What To Expect & Being Wrong Again & Again & Again.... - YouTubeWHY DOES ANYONE GIVE ONE OUNCE OF CREDIBILITY TO BEN S. BERNANKE, AKA THE ULTIMATE FAIL? WHY??!!!!
of which they claim they can exert some control over
They have some control - they have enough control to make a complete fucking mess of it.
I've no doubt they've the ability to further fuel this fire. Bernanke can create the fuel in 15 minutes, guaranteed!
"They are absolutely horrid at forecasting the economic weather"
You say that as if you think the financial propagandists actually believe their own bullshit. They say what they say, not because they think it's true, but because it's what they want you to believe.
+1
You raise a critical point.
They're not actually trying to speak/forecast truth.
My point was just that one would think that, given The Bernank's past string of gems in predicting future events, even the sheeple would realize he's not exactly on a roll.
Yes of course, your conclusion about credibility holds in either case. I just wanted to throw on a little extra cynicism.
I think the reason these bankers still have some credibility is because of the way our education system is set up. The teacher is the expert, and the experts answer is always the right answer. The experts are always right is the implicit lesson of every class.
http://www.youtube.com/watch?v=izE4_Jd2dOw
Shut this man up! He's as bad as the Frenchie Trichet! LMAO, tank ponzi market
I am still waiting for him to lay out his plan how to rescue the princess. I expect a lot of mushroom eating and jumping on heads...
ahhh...the Bowser gambit. Very popular.
...and i thought i was so original... now you euro-ed my day!
I believe the term you are looking for is MF'd! ;)
.
I WANT PAYROLL TAX CUTS LIKE THE AMERICANS HAVE BITCH!!!
WHERE ARE MY CUTS!!!
Only if you make sure not to have any spending cuts to offset them. Big government is good but bigger government is even better. Who needs to fund Social Security? It is self-funding now. This is awesome. Somebody tell Ben he's going to need a bigger printing press.
When I was a young kid, I already had the sollution. In class our teacher had this stencil machine to make copies of tests and notes.
I thouth you could make money on that to and that my parents got their money in that way.
Now what if that would become the way? If everybody could print their own money!
IMAGINE THE SAVINGS ON THE LOGISTICS OF DISTRIBUTING ALL THE FIAT! IT WOULD EVEN BE ECOLOGIC!!
"I WANT PAYROLL TAX CUTS LIKE THE AMERICANS HAVE"
Only if you can "fully fund" them like the Americans do.
SURE WE CAN FULLY FUND IT LIKE THE AMERICANS DO!!! they'll pay for it anyway :)
All it takes is a bit of gold and some hookers and DONE DEAL BITCHEZ!!!
Hell Yeah, lets just run the printing presses until the entire global economy collapses!
I didn't even have to listen to this. I can predict the future.
- Central planners will plan (poorly)
- Central bankers will continue to override democracy in any nation that they are found, tossing out the window such things as constitutions
- Politicians (often mislabeled as "leaders" by their lickspittle media whores) will continue to screw us at every turn
- Average Americans will continue to shout "give me, give me, give me" until their throats are raw
- We willl be saying these same things on December 19, 2012
I thought the IMF was motivated by altruism?
then there's that stuff "driving" everything
http://www.theoildrum.com/node/8729#more
and we just got some kind of default judgment that Iran had a hand in 911
http://www.informationclearinghouse.info/article30022.htm
gee, I wonder what's next?
credibly robust, is he high?
...finances in the euro area "credibly robust".
..and then he painfully swallowed. If he can't look like he is believing what he is saying, who is going to believe a single word?!
He's not lying. It's just that breakfast burrito that he had this morning that is acting up. Really!
My dog was watching it with me and when he said that, my dog started licking his balls.
I don't know what it means, but I think it gave my dog a good feeling....
They are only talking about their forecasting on how they can further bumblefuck through their self created bullshit.
He hasn't brought up removal of mark to market yet though.
Lower reserve ratios = more leverage and more credit in the system. They still don't get it.
How else are you going to stop a depression caused by systemic deleveraging unless you increase the ability of large firms to further leverage? Geez, do i have to think of everything?
Leverage, bitchez!
Exactly, keep adding more debt, it's the only way to keep the ponzi going.
Im free falling, free fallin
talk about free falling here comes 163ish next on IBM.. strap in bitchez
IBM make the dumbest fuking machine in the world, the traffic light
they deserve all they get
Burn IBM shares, burn
Wheres all the free money at??
It hasn't been cut down out of the black forest.timber
Silver is taking another pounding this morning. It looks like real money is getting closer to free.
Metals + cash saved to buy if prices go down = planning for the future
Reality is not a concept here.
the continental ivory towers built in Brussels and Strasbourg were built entirely on idealism, German and French mainly
they should have called in the Doctors and whisked the loons off to the funny farm 40 years ago
Draghi's Messages: We will ignore rating agencies when it suits us.
Avoid morbid speculation about the Euro currency...it is permanet, irreversible (like the 10 Commandments?).
Regulators are concocting plans to do away with rating agencies.
ECB has "novelty" in our decision-making.
Na na na na na na. Sounds like a child on playgroup thresating to take his ball home if everyone doesn't play by his rules.
Anybody know if that bond redemption took place in Greece. 2.5b was supposed to be paid out to the PSI's. Any word of funds hitting accounts?
Mario Draghi has pedophile written all over his face. He loves power and abusing people that much we can say for sure.
"The Euro is permanent and irreversible." [Until it isn't]
Hubris on full display.
http://vegasxau.blogspot.com
the european construct...there...fixed it. Not the current euro monetary black hole...which is a surrogate to the USD Oligarchy black ocean of debt. Think different as Steve Jobs always said.
Someone shut him up before he slips up and reveals the complete truth.
don't worry, it's been prérecorded at Camp Bilderberg
we've had "stress tests" and "stability" and now a new one, "firewalls"
presumably they think (?!) if they throw enough solid-sounding words at the problem it'll go away?
STFU DRUGHI!
he's a paid windbag, that's a politicians No.1 job, let him dribble if it makes him feel good, the windspeed won't effect Titanic, it's the hole under the water that's the problem
"get rid of ratings"
**POOF** Its gone
easy to predict the future when you work for goldman
Draghi: "We ar asking banks to produce their internal ratings, not rely on rating agencies solely."
Is that like asking the banks to mark to market their own books... honestly :) Joe Jett ring a bell :)
Strangely I want to short the euro more. He wants banks to rate themselves and countries ... yeah I give my personal house aAAAAAAAAAAAAAAAAA+++++++++ rating and dont even think otherwise or I will down rate you and suck your blood.
BITCHEZ
I've got your requested alternative rating for Italy you lying slimebag. It's much more realistic that those nasty ratings from the ratings agencies that you don't think are accurate (and you are indeed correct about that!): your new rating - D
new new rating:
B====D
creditratings are the problem, O RLY!
Public Policy Polling |December 18, 2011 | Reuters
Paul leads in Iowa
Newt Gingrich's campaign is rapidly imploding, and Ron Paul has now taken the lead in Iowa. He's at 23% to 20% for Mitt Romney, 14% for Gingrich, 10% each for Rick Santorum, Michele Bachmann, and Rick Perry, 4% for Jon Huntsman, and 2% for Gary Johnson.
Incredible, I watched CNN yesterday for almost an hour but don't recall hearing Ron Paul's name even once.
And that's breaking news today! I should have put December 19 instead of 18. Not that it would have made any difference to CNN...
My fear is that TPTB will hold things together long enough to blame the ensuing collapse on Ron Paul should he actually win the Nomination and the election.
Ron Paul is the only man that can save this country, but unfortunately I think he is being setup for a "Hoovering".
Only after RP is elected will "they" allow the system to collapse, destroying the last remnants of reasonability in this Country. And from then on it will be "blame the freedom lovers".
If Ron Paul is ever elected, and he can manage to find a few trustworthy generals, There will be a lot of people leaving the U.S. for Britain. What North America needs is a banker purge, and if RP should be elected, that is exactly what we will get, make no mistake it will hurt everyone when the bankers pull the plug on the economy.
Quickly rally the elves on the unicorns to go sprinkle hopium over the masses once again
Osbourne is speaking, what is ringfence?
The Tylers are now quoted by name on the Telegraph's Debt Crisis Live feed!
http://www.telegraph.co.uk/finance/debt-crisis-live/8965011/Debt-crisis-live.html
So just blow up already, Europe! We all know it's going to happen!
Well 'Rock On' Count Dracula
..it may be your blood bank is being sucked dry though, you've run out of donars
He is actualy being relitivly sensible
Judge the actions, not the PR campaign.
Dude shouldn't play poker; he'd get raped with all those tells.
"A credit crunch that might come..." <flinch>
Count Dracula just said he wanted to avoid a credit crunch through "lack of liquidity".... a credit crunch comes about from crumbling imploding debt
this guy wants to stop the fire by spraying petrol
where do they get these nut jobs?
10-yr. yield now down to 1.84%
Looks like we are getting close to "Animal Spirits" zone where vicious rallies occur.
IWM is way outperforming QQQ and SPY, that'a a heads up.
10 year down to 1.84% shows you exactly what your money is worth.
Answer: (in case you did not know) ZERO
Looks as though the Brits are running for the hills! Leave now BITCHEZ! http://www.mirror.co.uk/news/politics/2011/12/19/evacuation-plan-for-brits-in-spain-amid-warning-euro-collapse-coud-leave-them-stranded-115875-23645721/
The banks and the government have morphed into one animal that protects itself. The government isn’t in the business of “regulating” the banks, the government is in the business of protecting the banks..no matter the cost to tax payers and dollar holders.
TheSilverJournal.com
The lady asked loosely about austerity earlier, had the CBs helped, and why not default and have countries fix their own economies. His response was that the once austerity is implemented, the EuroZ will have to help, medium term you'll see improvement and matter of factly politicos/banks have helped already via low interest rates, etc. IN HIS MIND, if the banks are ok(I don't believe they REALLY are), then the economy will follow. The banks are such powers that even though they loan to the economy at same old interest rates, at best, there's liquidity because THEY have liquidity at low interest rates. Unreal.
My take on this crass comment:" Austerity first, we'll inject more cash(to the BANKS, and Govts), thus once we make the banks ok, all's right with the world."
It's not socialism. It's not capitalism. It's feudalism cloaked in ideology. People feel that in their gut. There will be no return of "confidence."
1000 year Euro - Reich ! Irreversible !
Last time those 1000 years lasted 12 , with the deciding battles lost after 10 years.
I was laughing so hard when I read the caption for the article, I chocked on my sandwich...