Joe Biden

And like that, this year's Davos World Economic Forum has come and gone, having achieved nothing except allowing a bunch of representatives of the status quo to feel even more self-righteous and important in the world's biggest annual circle jerk, in which fawning journalists ask the questions their cue cards demand, knowing too well their jobs are on the line if they ask anything even remotely provocative (and with the price of admission in the tens of thousands of dollars, one wonders just how many Excel classes these "journalists" could have taken as an alternative, in order to actually do some original math-based research, yes, shocking concept, to present to their readers instead of merely regurgitating others' talking points). Bloomberg TV has compiled the best video summary of the highly irrelevant soundbites by economists, CEOs and other people of transitory power, who provide absolutely no original insight into anything, and in which ironically it is Mexico's Felipe Calderon who summarizes it best: "we have a timebomb the bomb is in Europe and we are working together to deactivate it before it explodes over all of us." Lastly, we provide a quick glimpse into current and previous guests of Davos to show just how utterly worthless is the "braintrust" of those present.

Remember that one keyword that oddly enough never made it's way into the president's largely recycled SOTU address - "Solyndra"? It is about to make a double or nothing repeat appearance, now that Ener1, another company that was backed by Obama, this time a electric car battery-maker, has filed for bankruptcy. Net result: taxpayers lose $118.5 million. The irony is that while Solyndra may have been missing from the SOTU, Ener1 made an indirect appearance: "In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries." Uh, no. Actually, the correct phrasing is: "...positioned America to be the world's leading manufacturer of insolvent, bloated subsidized entities that are proof central planning at any level does not work but we can keep doing the same idiocy over and over hoping the final result will actually be different eventually." We can't wait to find out just which of Obama's handlers was may have been responsible for this latest gross capital misallocation. In the meantime, the 1,700 jobs "created" with the fake creation of Ener1, have just been lost. Yet nothing, nothing, compares to the irony from the statement issued by the CEO when the company proudly received taxpayer funding on its merry way to insolvency: " "These government incentives will provide a powerful stimulus to a vital industry and help ensure that the batteries eventually powering millions of cars around the world carry the stamp 'Made in the USA'." Brilliant - and no, they are laughing with us, not at us.

All you need to read.

Vice President Joe Biden, now best known for being the man who relies primarily on Jon Corzine for financial advice, continued his recent roll of epic linguistic blunders this morning. As Reuters reports, the VP, "joked during a visit to debt-choked Athens on Monday about bringing money to help Greece out of its deepest financial crisis in decades. Introducing a member of his delegation during a meeting with Greek President Karolos Papoulias, Biden said: "This man represents the Treasury department. He's brought hundreds of millions of dollars." His comments drew laughs from both the Greek and U.S. delegations." It is unclear if the Greeks laughed because the noted number was orders of magnitude less than what would be needed to actually put a dent in the Greek fast-motion train wreck, or because everyone was waiting to see what the American taxpayer's response would be to learn that while America is hopelessly locked in gridlock of releasing more cash to that country's middle class, the US Treasury is quite happy to disburse taxpayer funding to Greece. We are holding out breath to find out.

Couldn't happen to a nicer advisor to Joe Biden

• JOHN CORZINE SUBPOENAED BY HOUSE COMMITTEE
• HOUSE AGRICULTURE VOTES TO ISSUE SUBPOENA IN WASHINGTON TODAY

Don't forget to get your popcorn out for next Thursday:

• HOUSE AGRICULTURE COMMITTEE SETS DEC. 8 HEARING ON MF GLOBAL

Zero Hedge is always happy to discover something rotten in the state of capital markets. We are even happier when others dig independently and come up with their own startling conclusions. Tonight - we are very happy.

Zero Hedge is always happy to discover something rotten in the state of capital markets. We are even happier when others dig independently and come up with their own startling conclusions. Tonight - we are very happy.