And, yes, I DO take it personally

Monday, September 26, 2011

The market is toast - the stock market is finished; I go to bed dreaming of another recession

In an interview on BBC News this morning that left the hosts gob-smacked (google it... it is the BBC after all), Alessio Rastani outlines in a mere three-and-a-half-minutes what we all know and most ignore. While the whole interview is worth watching, the money shot for us was "This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!". While he dreams of recessions, sees Goldman ruling the world, and urges people to prepare, it is hard to disagree with much (or actually anything) of what he says and obviously interventions and machinations means we will have days like this (in Silver for instance), there is only one endgame here and we hope there is less hopeful euphoria (and more preparedness) as we pull back the curtain further and further.

While we do not know who this trader is, one thing we can be 100% certain of is that he will never appear on CNBC.

watch it... we'll NEVER see that kind of bald-faced honesty on u.s. media...

Labels: BBC, CNBC, Euro Zone, financial collapse, Goldman Sachs, recession, stock market, tradesters, Zero Hedge

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Thursday, July 02, 2009

And how about that economy that's rising from the ashes?

i was - not by choice - watching cnbc's kudlow report yesterday... good lord, what a collection of self-important gasbags...! if they weren't fulminating about the "death tax," they were pounding the drums for just how rosy things are starting to look for the economy and how obama's stimulus package had absolutely NOTHING to do with it... i finally had to leave the room... just one of the many, many reasons my tolerance level for u.s. television is measured in nanoseconds...

look for yourself and see how long you can hold out...

meanwhile, reality, in its usual annoying fashion, insists on making its presence felt...

U.S. Unemployment Rate Rises to 26-Year High
Employers keep slashing jobs, undermining signs of progress in the economy, and making clear that the job market remains in terrible shape.

then this from the la times...

Even as the nation's economy begins clawing its way out of the worst recession in 60 years, there are growing signs that this recovery could come with an unsettling twist: The wheels of commerce may begin to turn again without any substantial boost in jobs.

Not only is the national unemployment rate, now 9.4%, likely to climb into double digits later this year, but it is also expected to remain there well into 2010, economists say. That would prolong the misery of the unemployed, squeeze retailers and other businesses, and add millions of dollars in government costs and lost productivity. It could even threaten the recovery itself.

a guy in my class asked me on tuesday night how long he could expect to be out of work (he was laid off from a local casino about four months ago)... not wanting to sugarcoat the truth, i told him that he should expect at least another year and perhaps longer... amazingly enough, he's actually begun to consider emigrating to canada, an idea i told him might not be a bad one...

Labels: Canada, CNBC, economic collapse, economic instability, economic stimulus plan, Obama administration, recession, unemployment

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Sunday, April 19, 2009

Dylan Ratigan (formerly) of CNBC's Fast Money 'splains it all for you and then disappears

from co-blogger, jim burke, who, in a past life, was obviously a fan of the pbs show, "where in the world is carmen sandiego"...

Where in the world is Dylan Ratigan? He is the host of CNBC "Fast Money".

Before we play this game, maybe you don't know who this guy is. A little blurb from Wikipedia below.

From the Wikipedia entry on Dylan Ratigan

In Ratigan’s final CNBC broadcast from the floor of the NYSE he reported on what he called “an important story developing” that Goldman Sachs and “a variety of European banks”, in his assessment and that of his guests, essentially “perpetrated securities fraud” and an “insurance fraud scam” against AIG—and, by extension, the government and taxpayers funding that insurance company’s “bailout”—by insuring their questionable investment vehicles and, upon their devaluation, making claims on them to be paid by AIG “at 100 cents on the dollar” despite all of the markdowns “being forced upon every other” entity including the government, banks, shareholders, bond holders, taxpayers and homeowners. [6]

“I think that it should be a bigger political issue than whether somebody bought an airplane. Forget the private jets, forget who got a million dollar bonus. "Fifty billion dollars”, he emphasized, minimizing what he saw as populist side issues to “the real question” of how “government policy makers” are to deal with the “problems of contract law” inherent in the agreements of businesses receiving government assistance during the financial crisis. [7]

“The banks are being asked to take ‘haircuts’ on their toxic assets, why are the Goldmans and the Deutsche Banks of the world not being asked to take haircuts on their toxic credit default swaps? It’s a real question. I will continue to pursue it for sure, I hope others will as well.” Ratigan praised New York Attorney General Andrew Cuomo’s subpoena of AIG to determine the bank payouts as “legitimate inquiry” and looked forward to “a body of lawmakers in Washington D.C. who are going to ask, it appears, some of the same questions that I’m asking.” [8]

Ratigan is the guy who broke the Enron debacle in the media.

Ratigan recently did a radio interview that is absolutely staggering. Listen via the link below and keep in mind this guy was still an active talking head for CNBC.

http://www.fedupusa.info/Dylan_Ratigan_Interview

Pretty much sums it all up.

Now he's gone. CNBC posted the reason as a dispute with the producer. Hmmm, office politics? Seems to me he was axed for leaving the reservation.

Now for the game, yippeee!

Question # 1
If you report for a corporately owned organization (CNBC/GE) and you attack the Bankers and their Politicians, should you expect a merit raise or a visit from Uncle Vito and his pal, Whispering Jimmy?

Question # 2
Upon learning how Whispering Jimmy got his nickname, do you decide to leave your job or continue with your investigation?

Question # 3
Upon leaving your job and shitcanning the investigation, should you leave a forwarding address?

Bonus Question:
Where is Dylan Ratigan?

I am paralyzed with anticipation awaiting answers. This is gonna get weird, I suspect.