Updated on Aug 19, 2009 at 2:38 AM by
DailyBail
No real surprise here. Bernanke can't pull the punch bowl.
I haven't paid any attention to this issue because I assumed it was complete bullshite. Now I'm sure. Birthers, have a gander at this. Kitty Pilgrim has the proof starting at the 3:40 mark. The comedy is worth watching from the beginning.
He's Ron Paul's son. Officially Randall Paul, born in 1963, eye-surgeon from Bowling Green, Kentucky. If the Republicans have nary a brain cell left they will fast-track Dr. Paul straight to the 2012 Presidential ticket.
This is the guy. Hell I'm inspired to drop the Daily Bail and go to work for him now. This is an intelligent candidate. Sarah Palin, step aside. Career politicians are the problem. Future President of the United States, Dr. Rand Paul understands.
Remember in '92 Clinton campaign catchphrase was "it's the economy, stupid." Mark my words, in 2012, it'll be "it's the debt, stupid." Book it, Dano.
As usual with Dylan Ratigan, the cash for clunkers debate evolves quickly into an outstanding discussion of the banks, generational theft, too big to fail, financial regulation and the Wall Street bailouts. Larry Summers is nicely flailed along with Geithner and Bernanke. Taleb criticizes Obama specifically and forcefully, and admits publicly to his own Libertarian leanings.
The central question is how do we create programs that help the economy without rewarding bad behavior. In a familiar refrain, Taleb counters that the core economic problem is too much debt, and absolutely nothing has happened to ameliorate the problem. Bravo.
Farzad correctly points out that the problem is ultimately political. Finally. As I've been screaming about since the day of our launch, both parties are too concerned with the next election to make the right choices about the economy and our 3-decade build-up of debt.
This is an outstanding discussion that I've been saving since its broadcast 10 days ago. If you're pressed for time, begin watching at the 3-minute mark. Endeavor to see this one.
If you've been watching markets for the last 2 decades, you've seen 2 women rise to the level of Wall Street guru (though perhaps in both cases they were partly self-anointed and partly CNBC hoisted). They are Elaine Garzarelli and Abby Joseph Cohen of Goldman Sachs.
Before you get excited by her extremely positive outlook, be aware that she's a perma-bull who has completely whiffed in her predictions for several years running. In '08 she called for a sharp rise in the S&P 500 to a 2008 year end-level of 1675. The index finished the year below 1000. Ouch. And that was on top of a massive failure of prognostication in 2007.
She's essentially useless and is additionally guilty of being personally annoying. I can't pinpoint it, but I think it's the slow and methodical delivery based so obviously on talking points that causes me to throw things at my television whenever she appears. Oh yeah, and there's the fact that she foresaw none of the housing-financial crisis. She apparently lives in a Goldman air-chamber and has not been exposed to reality for nearly a decade.
Her '08 call was a serious miss. It should have wrecked her career and reputation as a financial pundit, but the tools who run CNBC and Bloomberg would never allow actual performance to get in the way of ratings. So she appeared again today on Bloomberg to blow more smoke up your...
Kevin is a reader of John William's Shadow Stats apparently. About 2 minutes in, he answers the question we are asked constantly either in comments or by email: why weren't you complaining about Bush's bailout policies or his deficit spending?...why are you picking on Obama?
And for the record, I have been complaining about deficit spending and the debt build-up for 2 decades. I have criticized every President and every Congress since Reagan.
However, Obama fans should be aware that his deficits over his 4-year term will be quadruple the size of Bush's deficits. And yes I understand that the economy is in worse shape and tax receipts are down sharply, but 4X(Bush) is a big freaking number. Capisce.
Another outstanding discussion from Max Keiser. This time he's paired with Thorsten Polleit, Chief Economist for Barclays Capital. Completely new to me, Polleit is a monster, in ideas if not presentation. The discussion begins with an examination of the positive GDP figures released last week in France and Germany, but quickly shifts to the U.S. and our failed policies, regulation (or lack), the Federal Reserve bailouts, and corporate criminals. Goldman Sachs, Bernanke, over-easy Central Banks, and Keynes are all skewered.
Polleit is an extreme anti-fiat currency, anti-Cental Bank, anti-debt and anti-Keynesian, and his views in particular should not be missed. And Keiser is his usual hilarious self as he emasculates the guilty with his strangely appealing, yet undeniably sick sense of humor. We kid because we care, Max. Keep up the fight.
(Editor's Note: Guest post from Mark McHugh from Across The Street. We discussed the plight of C-Span junkie earlir this week as background.)
Thanks to the overwhelming success of “Click-fraud“, the wunderkinds at Google have decided to start dabbling in censorship, obstruction of justice and treason, as youtube user Cspanjunkie recently found out. So much for “do no harm”….
I would rather drink paint than watch C-SPAN. But I thank God that other people are watching for things like:
Congressman Alan Grayson attempting to extratct any useful information from the Xanax Queen in charge of auditing the Fed.
This is not about politics for me. This is beautiful live theater. The salient points seem to be:
To me this is much ado about nothing. Obama's secret service detail should be applauded for not over-reacting and detaining Kostric. A non-event, but loads of drama, a good discussion from Hardball, and a few expletives from Chris Matthews.
Update: I've added a short video of Ron Paul's response from MSNBC with Ed Schultz.
Relax Democrats, I kid because I care. Besides, The Daily Bail leans Libertarian, so we get to make fun of everybody. It's Friday so let's all relax. Very funny 24-second clip.
John Oliver enlists the help of a former convict to convince business students from MIT and Harvard to sign a simple ethics oath.
This is our 3rd story on yesterday's Squawk Box. I guess that's a sign that at least a few CNBC producers are getting the job done right. Faber, Taleb and Roubini. They were missing Chris Whalen, Janet Tavakoli, Dylan Ratigan, Jimmy Rogers & Bob Knight. But what I do know. I just live, eat, breathe and dream this festering madness each and every freaking day.
