Thursday, October 3, 2013

LEAVING THAT ASIDE.......

Girls dig me
Only in America. Remember when that might have been a "positive" or "glass half full" thought. "Only in America".... audible sigh.... The following interview with CNBS's Maria Bartiromo summarizes the depths to which we as a nation, a society, and unfortunately as individuals......have sunk. CNBS interviews a Salon.com reporter that wrote a scathing article on Jamie Dimon and the criminal enterprise that he is a front man for. Unfortunately for us, this enterprise is the focal point for the banking industry that has usurped our country and will most likely take us back into the dark age. Of course this statement may just be hyperbole as we "muddle through" after "going over the cliff" in the "worst economic crisis since the Great Depression" (Bernanke's et al words not mine). Carrying on..... so where does this go? You be the judge. Is the "theater of the absurd" becoming too obvious to many people that once bought the spin from Wall Street? What does the following Taibbi/Seder interview represent for the careening "recovery" and the CONfidence that is paramount for us to "muddle through". There is no outrage heard in the piece.....there is no "WHY ME" or what did we do to deserve this? No self pity here.....just one funny piece of comedy served up by the spinmeisters on CNBS and if you choose to look at this as just a fluff piece, then I think you miss the real message delivered, which is that people are getting it and they KNOW its over..... They may not know how or when it ends, but they damn well know the bullshit is so deep that NO ONE gets out of it alive......well.....maybe alive but certainly covered in some very nasty SH%#! enjoy and gl





17 comments:

  1. hey may not be good with non-taxpayer funded numbers, but bankers are always quick when it comes to turning a phrase:

    "For a while we thought a light was at the end of the tunnel," said Gerard Cassidy, a banking analyst with RBC Capital Markets. "It seems to be a Mack truck.
    In previous years there was always at least one product group that was making money. This year: everyone is suffering.

    Mr. Stein, the recruiter, said he received 100% more calls in August and September than in the same months in 2012 from disgruntled traders in fixed income, currencies and commodities at big banks looking to switch firms. "There's no opportunity to make any money right now," he said. "Nothing is happening."
    Naturally, since everyone wants out and to find a job at a competitor, it is suddenly the biggest buyer's market out there. It also means axes will be flying in 2013 coming bonus time, or rather, just before.

    Some banks have started looking at contingency plans for future layoffs, Mr. Stein said. "Just when you thought they got rid of all their expensive people, they're going to have to go back and relook at that," he said. "It's been brutal," said Michael Menatian, a mortgage banker in West Hartford, Conn. "We were flat-out busy until May. Once rates went up, things went completely dead." He said he closed around $4 million in loans every month through June, and about $1.5 million a month since then.
    And we are not talking selected surgial layoffs here and there. The mortgage industry: that bread and butter of banking Net Interest Margin-based operations, is about to be nuked from orbit.

    J.P. Morgan, Bank of America, Wells Fargo and Citigroup already have cut more than 10,000 mortgage jobs this year, with plans for thousands more to come. J.P. Morgan is accelerating plans to cut as many as 15,000 jobs in its mortgage division by the end of 2014. All told, the number of employees in the industry will likely shrink by 25% to 30% over the next year, estimates Christine Clifford, president of Access Mortgage Research & Consulting, Inc., a Columbia, Md., mortgage research and consulting firm.
    Finally, since a dropping bonus check tide will reduce all compensation packages across all levels, it means more disgruntled bankers, less discretionary income for the wealthiest, even less taxes paid into city, state and Federal coffers, less consumption and more saving, and an end to America's deficit-cutting miracle and certainly and end to the days of barely even stall speed GDP.

    As for what it means for second half S&P500 EPS of which financials represent 20%, and for the hopes and prayers of discredted "the recovery is here" chatterbox pundits (and central bankers) everywhere, we are confident, no pun intended, readers can figure that out on their own. ZH today

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  2. Oh, God please deliver us from a Dimon head of the Treasury. CNBC is a big joke for anyone paying attention. He should be in prison. Who's the poor guy on CNBC trying to tell the truth?

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  3. congratulation to the hundreds of "brave" police and secret service for taking out a young dental hygienist that was driving erratically with her baby in the car. That'll teach her!........and us

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  4. How convenient ....NO jobs report......hehehehehe........how convenient

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  5. CNBS now discussing how next months BLS report may be "jeopardized" if the "gov" is shutdown past the 12th........hehehhehee......how convenient

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  6. Kli, Speaking of "news readers," Jesse posted this Glen Greenwall interview, as he writes, "Greenwall does an excellent job responding to a remarkably craven set of questions from the BCC journalist."
    http://jessescrossroadscafe.blogspot.com/2013/10/glenn-greenwald-on-bbc-newsnight.html
    http://jessescrossroadscafe.blogspot.com/2013/10/glenn-greenwald-on-bbc-newsnight.html

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  7. yes tom it was DISGUSTING to watch......she was DISGUSTING in the interview just like Gregory was on Meet the Presstitutes

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    Replies
    1. Yup that was one hell of a hack job BUT she didn't succeed!

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  8. I believe they push the shutdown to October 17 to prevent the release of the BLS data in November. This will allow the public to live the illusion through the X-mas shopping season since CNBS announced that if the shutdown went through October 12 then there would be no data release in November......hehehhehe.......how convenient

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  9. Hahaha yes Kli, was thinking the same thing about the jobs report, very convenient...then again, they just make up numbers anyway!

    I was in the Southside of Stamford (CT) last night, I live in the city but haven't been to that part of town in a few years, used to be very shady. They're in the midst of completing construction of 4,000 luxury apts, a ton of corporate offices, a hotel, shopping centers, etc. Even Bridgewater is expected to move in there, making it officially the center of the evil universe lol. Anyway, walking around that area and seeing the 'booming' construction business, cemented the fact that this is the bubble that will end ALL bubbles. You would think we were living in the greatest economic boom cycle in history; meanwhile most of the country is in depression. I'm watching all this in amazement, but unfortunately it will get VERY ugly at some point, and probably in the next 2 years.

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    1. Structurally we have done virtually NOTHING to fix the problems Sammy and I would add that we have worsened our position with O care.....it is collapsing the economy and hospitals are getting desperate as layoffs and hour cuts are ramping up for the first time in years in them. I am convinced that we are in a collapse now and they are trying to use the "shutdown" as not only a cover on BLS but as an "excuse" for the collapse when the numbers DO come out....as I have said it is Kabuki theater and their motive is certainly debatable.........BTW this guy had it RIGHT.

      http://blog.milesfranklin.com/fighting-through-the-presstitutes

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  10. http://www.zerohedge.com/news/2013-10-04/30-mindblowing-statistics-about-americans-under-age-30#comments

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  11. Need O Care just call........

    http://dailycaller.com/2013/10/03/need-health-care-coverage-just-dial-1-800-fuckyo-to-reach-obamacares-national-hotline/

    Think we are in a little bit O trouble?

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  12. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/4_David_Stockman_-_The_Crisis_Today_Is_Far_Worse_Than_1981.html

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  13. Just another shining example...Charlotte International Airport forced to admit they search all cars in valet/long-term/short-term parking due to a lady catching them in the act and calling a local TV station to investigate. According to their spokesperson, they've been following Fed rules for 1 1/2 years, but didn't bother to notify the sheeps. The "customer" was not happy; now they will post signs saying your car will be searched.

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  14. Just an observation--all commodities futures seem to be in a bear flag, including gold.

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