Dennis Kneale

Goodbye Larry Kudlow Report

In a surreal and deja vu-ish turn of events, three days ago we reported that in parallel with the ongoing collapse in CNBC viewership, the ratings of some of its shows namely Jim Cramer's Mad Money and Larry Kudlow's Report had just hit all time lows. This was met with an immediate response by Larry Kudlow himself who, alongside Groundhog Phil-fodder Joe LaVorgna, decided to take Zero Hedge to task for reporting that part-time jobs are not really full-time jobs and invited us over to their show to explain how dare we point out the weakness in the manipulated BLS datadump. We were kind enough to remind Mr. Kudlow that the last time someone from CNBC "invited" us over, i.e., Dennis "Digital Dickweed" Kneale, their show was promptly cancelled. To wit: "While we appreciate the offer, the last thing we intend to do is suffer Mr. Kudlow the same fate as that experienced by his predecessor Dennis Kneale who also invited Zero Hedge on his laughable excuse for a show in 2009, only to be sacked a few months later." Make it two for two as irony strikes again. The NY Post reports that Kudlow's show is over.

CNBC Viewership Collapse Continues; Cramer, Kudlow Audience At Record Lows

What can be said here that we haven't said countless times before? If the braintrust behind Comcast's acquisition of the CNBC package deal, not to mention assorted increasingly more desperate CNBC producers, had hoped that an artificial "wealth effect" created under a central planning world would lead to greater viewership, more retail stock market participation, and better advertising terms (not to mention revenues), they were wrong. Very, very wrong.

Cramer Apologizes Over Twitter Rant

And now for some late night amusement from head CNBC entertainer Cramer: "I lost my temper on Twitter this morning. The chatter was that I had put people in the market at the top and taken them out at the bottom. I have done a bunch of things wrong in my life and in my trading career, but that combination is not one of them. There were also the attacks on me about buying gold at the top. What am I supposed to do about this one?"...As Cramer is nothing more than a (tragi)comedian, we applaud his collapse to the level of one Dennis Kneale, whose last gimmick before ending his CNBC career, was engaging the blogo/twittersphere. We are delighted that Mr. Cramer has finally "succumbed" to the same terminal level.

Goodbye Dennis: Kneale Going To Fox Business

Good news: the man who coined the phrase Digital Dickweed is gone; The Better news: he will be reunited with former CNBC colleague Charlie Gasparino. The Best news: the Fed did not buy Dennis' contract on behalf of taxpayers. Which is odd - the Fed is now in the business of buying EVERYTHING.

Frontrunning: July 22

  • Every bankrupt bank prepares to pass the Stress Farce, latest one: Bank of Ireland, Allied Irish Said to Pass EU's Stress Tests (Bloomberg)
  • The tax tsunami on the horizon (IBD)
  • Merkel hails "robust" German recovery (FT)
  • BOJ Official Voices Caution on Yen (WSJ)
  • British economy set for triple whammy, admits Bank chief (Independent)
  • IMF Sees Euro-Zone Debt Hobbling Growth (WSJ)
  • Bernanke's Fed exit door now swings two ways (Bloomberg)
  • EU Banks May Disclose Sovereign-Debt Holdings With Stress Tests (Bloomberg)

Goblin Emeritus Says America's Spending Days Are Over

If there is one person in this world who has less credibility than the Goblin in chief, Ben Bernanke, it has got to be the Goblin emeritus, or the man who spawned the monetary policy that will eventually destroy the world. Which is why when we read Alan Greenspan's Op-ed in the WSJ, we cringed, as we actually agree with pretty much most of what he is saying. It may be time to reevaluate our stance on the world: is Goldman just a bunch of really nice guys? Are HFTs just altruistic liquidity providers? Is prop trading not just legalized frontrunning at a massive scale? Will the US hit one quadrillion in debt with 0.01% on the 30 Year? Will Dennis Kneale refute the theory of relativity? The doubt has now set in... But seriously, who but Krugman (and 99% of tenured economists) could read the following and disagree: "The United States, and most of the rest of the developed world, is in need of a tectonic shift in fiscal policy...With huge deficits currently having no evident effect on either
inflation or long-term interest rates, the budget constraints of the
past are missing. It is little comfort that the dollar is still the
least worst of the major fiat currencies. But the inexorable rise in
the price of gold indicates a large number of investors are seeking a
safe haven beyond fiat currencies
." and this "Perceptions of a large U.S. borrowing capacity are misleading."

How Jane Wells Popped Steve Liesman's (And The Entire Power Lunch Pom Pom Brigade's) Propaganda Bubble

Hilarious counterpropaganda move by CNBC's Jane Wells. After Steve Liesman patiently explains double negatives to Dennis Kneale, he is now certain to issue a restraining order against not only Rick Santelli but Jane Wells as well. The expression on everyone's face in the hexabox is worth price of admission alone (especially since it's free). This will surely lead to more hypothetical memos being issued by Jeff Immelt with messages of tender yet firm proddings as to the thematic content of CNBC programming.

Market Update: March 23, 2015

The DOW rebounded from a crushing six point opening sell off to close the day at 21,626, up 43 points for the day. The rebound came after there were reports, later denied, that European officials are working on a bailout for EU member Greece. Greece has been in a state of near suspended animation since debt woes struck the country in early 2010, though strikes have been averted through the daily airing on government controlled television of an Anthony Quinn film extravaganza.

Faber's Bold Prediction: Both The US And Europe Will Default On Their Debt

Picking up where he left off in his prior Bloomberg interview earlier this week, the author of the "Gloom, Boom and Doom Report" continues his bashing of the governments of all developed and overleveraged nations, which he claims will sooner or later default on their obligations. This could be the most scathing critique of the fiat-money system to date, which is the primary cause for the facility with which governments have accumulated untenable debt loads. Sure enough, CNBC was not too happy with his assessment.

JP Morgan Upgrades Spark Another Rally

Yet another strategic upgrade of U.S. Steel and other issues sent the short sellers reeling and backpedaling. At the same time, hundreds of fund managers desperate to "make their year" piled into whatever was moving the fastest. Currency gaming has resumed its one-way trade, as the FX Megadroid and Forex GridBot players are now "watching the money roll in" for once.