Zuckerman To CNBC: "The Recession Never Ended"

Tyler Durden's picture


Everyone's favorite perma-bullish stand-in for Cramer, Fast Money's Scott Wapner, seemed lost for words when Boston Properties CEO Mort Zuckerman laid down some basic truthiness on the state of the US economy "We have the most stimulative fiscal and monetary policy in the history of this country and here we are three years into the recession and it's not ended. I think we may be heading for an even weaker economy this year than people expect." The righteous REIT ruler went on to note that it is not just the US but Europe (ridiculously high unemployment rates) where he analogizes (rather picturesquely) that it reminds him of "the man who jumps off a 25-story building and as he's hurtling by the sixth floor he says 'don't worry, nothing has happened yet'." Wapner is silenced and changes the topic as we suspect he is stunned at the honest sentiment given the nominal three-year-highs in REIT indices. Truth is indeed stranger than fiat-fiction.

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Wed, 05/02/2012 - 14:30 | 2391788 Nid
Nid's picture

Hey look...they're "First In Business Worldwide..."

Wed, 05/02/2012 - 14:34 | 2391810 cossack55
cossack55's picture

Without my glasses it looks like "First in Bullshit Worldwide..."

Wed, 05/02/2012 - 16:02 | 2392019 markmotive
markmotive's picture

Never ended...and it may never end.

Wed, 05/02/2012 - 17:34 | 2392287 Sudden Debt
Sudden Debt's picture

But on the bright side people EXPECTED it to be less BAD!
must be worth a few hundred points on the dow... At least...

Wed, 05/02/2012 - 17:54 | 2392339 lemonobrien
lemonobrien's picture

well, living in san francisco, i can tell you, the embarcodero center is not where social media companies locate. it has a good independent movie theatre and indian restaraunt.

Wed, 05/02/2012 - 18:21 | 2392356 Muppet Pimp
Muppet Pimp's picture


Wed, 05/02/2012 - 21:56 | 2392770 AldousHuxley
AldousHuxley's picture

embarcadero is where a lot of financial companies operate from.


built by

Trammell Crow largest landlord in US in 1970s


David Rockefeller, grandchild of standard oil.



Wed, 05/02/2012 - 21:53 | 2392767 Buck Johnson
Buck Johnson's picture

It won't end, because our economy will implode.  And when it does it will destroy whats little democracy we have in this country.  Because once the checks stop coming from the govt. and people have nothing they will go nuts.

Wed, 05/02/2012 - 21:58 | 2392776 AldousHuxley
AldousHuxley's picture

"end of recession" is Obama's version of Bush's "mission accomplished"

10 years before its time, not in a good way.

Wed, 05/02/2012 - 14:38 | 2391825 Silver Bug
Silver Bug's picture

Of course it never ended. Sadly we have many more bad years ahead of us. Position yourself correctly! Hold tight to your gold.



Wed, 05/02/2012 - 14:46 | 2391847 tempo
tempo's picture

There will never be a real economic recovery because the West (US and EU) represent the highest cost, most regulated, most litigious, most unrealistic economies in the world. Corporation only push for more entitlements while outsourcing every possible job to the East. Deficits, entitlement and war are the main competitive advantages in the West.

Wed, 05/02/2012 - 15:01 | 2391881 Hippocratic Oaf
Hippocratic Oaf's picture

Hope Mort liked his last 'interview' on CNBS. 


CNBS no longer has any talent.

Wed, 05/02/2012 - 15:21 | 2391945 alfred b.
alfred b.'s picture


   Funny that they switched subject to Murdoch once they weren't getting the favorable and positive answers they expected!   cnbc can't stand the truth!!



Wed, 05/02/2012 - 15:33 | 2391981 jonan
jonan's picture

lol, CNBS, commies N bullshit

Wed, 05/02/2012 - 15:53 | 2392026 SokPOTUS
SokPOTUS's picture

Funny how they can have no talent, while retaining plenty of "talent"; simultaneously.

Wed, 05/02/2012 - 15:10 | 2391913 SheepDog-One
SheepDog-One's picture

'First in business worldwide' with 20,000 avg viewers at a given moment...pretty funny!

Wed, 05/02/2012 - 15:14 | 2391924 oddjob
oddjob's picture

'First In Business Worldwide' with only upticks no less.

Wed, 05/02/2012 - 19:33 | 2392508 Freddie
Freddie's picture

Zuckerman/Zuckerberg voted for Hope & Change.  F him.   Only tards watch TV. TV has enslaved the public so thank morons who watch TV for your serfdom.   They can easily control the sheep with TV.  F TV.

Wed, 05/02/2012 - 20:47 | 2392613 earleflorida
earleflorida's picture

Mort Zuckerman doesn't kiss anyone's ass, period! He's a straight shooter. I've always enjoyed watching him on the McLaughlin Group. Simply said, he's just a good guy, that's filthy rich, but a very generous philanthropist. 


Wed, 05/02/2012 - 14:30 | 2391790 DavidJ
DavidJ's picture


Wed, 05/02/2012 - 14:31 | 2391797 slaughterer
slaughterer's picture

JP Morgan (JPM) CEO Dimon says there was 'give and take' in banks' meeting with the Fed.


HA HA HA HA HAAAAAAAAAAA HAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Now I feel better.  

Wed, 05/02/2012 - 15:34 | 2391985 Elwood P Suggins
Elwood P Suggins's picture

Nothing new here.  The FED gave and the banks took.

Wed, 05/02/2012 - 19:23 | 2392489 The Navigator
The Navigator's picture

Yeah, we give, they take

Wed, 05/02/2012 - 14:30 | 2391794 Normalcy Bias
Normalcy Bias's picture

I'm surprised CNBS didn't go to a test pattern seconds before Mort got this out over the airwaves...

Wed, 05/02/2012 - 14:31 | 2391798 Dr. Engali
Dr. Engali's picture

Ugh my age is showing. I just watched a commercial where the Fonz is peddling reverse mortgages to old people.

In the end the banks will own everything I guess.

Wed, 05/02/2012 - 14:36 | 2391816 Normalcy Bias
Normalcy Bias's picture

That ad saddened me, too. I thought Winkler had more integrity than that...

Wed, 05/02/2012 - 15:27 | 2391957 NotApplicable
NotApplicable's picture

Integrity? From a product of Hollywood? LOL

Must be your bias. ;-)


Wed, 05/02/2012 - 15:33 | 2391977 iDealMeat
iDealMeat's picture

exactly..  He's hired/paid based upon him NOT understanding the product he's selling..


Wed, 05/02/2012 - 15:40 | 2391998 Normalcy Bias
Normalcy Bias's picture

Perhaps it's the last vestiges of naivete leaving my body, but Winkler seemed like one of the few Hollywood 'Good Guys.'

Wed, 05/02/2012 - 16:14 | 2392053 Argonaught
Argonaught's picture

Many lose their integrity when they lose their first job (acting) and fail at their second (have you seen his children's books??).  Even the Fonz needs to eat...

Wed, 05/02/2012 - 17:59 | 2392346 Henry Chinaski
Henry Chinaski's picture

I was fired from at least three jobs by the time I was 17.  Nothing gives you a sense of utter worthlessness like getting fired from a minimum (or sub-minimum) wage job.  I  wasn't cut out for french fries and it all worked out in the long run.  I mourn for the young generation who hasn't learned how to find a job, never mind lose it.  There's no reinforcement like failure. 

Thu, 05/03/2012 - 01:32 | 2393074 Temporalist
Temporalist's picture

I've said this before here but I know of someone who fired a collage aged girl for being a terrible worker and her parents showed up and asked for her job back.  She didn't get it back but that just goes to show how mental people have become. 

Wed, 05/02/2012 - 18:26 | 2392402 Westcoastliberal
Westcoastliberal's picture

Like Jimmy Fallon shillin' for Capital One.  So disappointed.

Wed, 05/02/2012 - 19:51 | 2392537 Freddie
Freddie's picture

People who watch TV enable this and enpower their overlords.  Dumb serfs - they traded liberty for a clicker and HD.

Wed, 05/02/2012 - 23:16 | 2392906 cbxer55
cbxer55's picture

Right on! Besides, its nothing but commercial advertisements anymore. No point in watching the fool thing. Try and watch a show, and they keep cutting it out for the rude interruptions. I frikkin hate tv.

Thu, 05/03/2012 - 00:03 | 2392977 TheMerryPrankster
TheMerryPrankster's picture

The commercials are there to show you how inadequate your own life is. How well other people live and how easily you could fix all your problems if you just buy whatever turd they're selling.

The shows are just bait to keep you around for the constant drumbeat of inadequacey.

Television gives you nothing and takes everything away from you and you pay for the priviledge of getting fucked over with your big ass cable bill, that big ass flatscreen on your credit card at 28% interest and the loss of the days and hours of your life that could be spent in better pursuits. Hell sleeping is better time spent than watching television.

Satan's dreambox thats all it is, of course Satan and the CIA  are bedfellows. Keep watching, its what they want you to do.

Thu, 05/03/2012 - 11:59 | 2393009 cbxer55
cbxer55's picture

The big screen is paid for. Paid cash for it as a Christmas present for my wife in 2011. I rarely, if ever bother to even turn it on myself. At least my wife knows how to use the remote to either change channels during the bla-bla-blas, or at the very least mute the audio. She did not use to do that, but even she has started commenting on the amount of commercial interruptions that the idiot box has these days.

She pays the cable bill, its her tv, and her bill. I would not pay for that if you gave me the money do do so. ;-)

And I most definitely agree with you on the sleeping thing. I work night shift just so I do not have to be woken up by an idiot alarm clock every morning. Get up when I want, as early or late as I want.

Thu, 05/03/2012 - 01:38 | 2393079 Temporalist
Temporalist's picture

For those that don't know they actually blatantly advertise products in shows now.  Here is a clip from Colbert that is if nothing but embarassing to all parties involved:



Wed, 05/02/2012 - 14:47 | 2391849 Joe Davola
Wed, 05/02/2012 - 14:55 | 2391867 HD
HD's picture


Wed, 05/02/2012 - 15:17 | 2391936 Whalley World
Whalley World's picture

Winkler - the Fonz

Bernank - the Ponz

Wed, 05/02/2012 - 15:58 | 2392031 Normalcy Bias
Normalcy Bias's picture

Yes, and The "Bernank" 'jumped the shark' a LONG time ago...

Wed, 05/02/2012 - 20:42 | 2392610 krispkritter
krispkritter's picture

The Fonz hawking a 'mortgage' you never have to rep-Ayyyyyyyyy...old actors never die, they just do commercials.

Wed, 05/02/2012 - 14:32 | 2391800 Global Hunter
Global Hunter's picture

They went to a camera shot of all those fast money lunch dooshes, each and every stunned and resigned look on their faces was priceless.

Wed, 05/02/2012 - 14:33 | 2391804 Cone of Uncertainty
Cone of Uncertainty's picture

Hey earnings are up because companies are issuing cheap debt to buy back stock, no problem, chill, this is sustainable.

Wed, 05/02/2012 - 14:33 | 2391805 Strike Back
Strike Back's picture

The fuck.  Zuckerman tells it like it is on the U.S. economy.  Bankster shill redirects to Europe.  Gotta keep that dollar up.

Wed, 05/02/2012 - 15:17 | 2391937 oddjob
oddjob's picture

Ask Mort about 9/11, see if he tells it like it is. Just another maggot in a suit.

Wed, 05/02/2012 - 14:33 | 2391807 Rastamon
Rastamon's picture

oooooooooooooops .... too much truth again


someone kill the satellite feed.... QUICK !!

Wed, 05/02/2012 - 14:33 | 2391808 Joe Davola
Joe Davola's picture

Uh-oh, 10 minutes to Wapner.

Wed, 05/02/2012 - 14:34 | 2391809 Cdad
Cdad's picture

Every once in awhile, even a criminal syndicate Wall Street guy accidentally lets slip with the truth.  

It was a funny interview indeed, as the commentary after the truthy comments went exactly where you would have expected with a positively bullish comment on Simon Property Group, of course.

In the meantime, never mind the moronic paraballa that is the SPG chart, and never mind that the entire retail complex is printing its masterpiece secular top, and never mind the $18.9 billion [that's BILLION] in debt that Simon is carrying, and never mind the 3 year long one way trade in the whole group [powered by mindless HFTs, of course]...in fact never mind anything...and just listen to the perpetually fading BlowHorn [CNBC] sell side shills as they seek the greatest fools of all to buy the obvious tops.

Also included around this same interview was an attempt to get sheep to buy the top of the housing stocks, which put on a magical ponzi top trade show this morning...before being shorted just in time for Joe "last on the train" Teranova to declare housing has bottomed...and a call to buy building supplies.

Die BlowHorn [CNBC]...just let the body of your network lie down on the floor next to where your integrity fell years ago.  Someone please....mercy....just turn the lights out in that building already.

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