The joke du jour for STB is Moody's Slaps ESM With Negative Outlook On Day Of Its Official Launch. Yes, even out of the gates the newest and brightest bailout package is presumably doomed from the start by one of the ratings agencies. How is it that the crooked and on the take rating agencies can go against the establishment? I have no clue. Maybe someone at Moody's found Jesus in a closet or something. Well, Judas maybe, their AAA with negative outlook is still a complete farce, but at least they are willing to shed a bit of light on reality.
Staying with the farce theme today, for those that don't believe that the markets are rigged and that liquidity is at best a ghost - "A single mysterious computer program that placed orders — and then subsequently canceled them — made up 4 percent of all quote traffic in the U.S. stock market last week, according to the top tracker of high-frequency trading activity. The motive of the algorithm is still unclear." Now regular STB readers know all too well about this action and this news is no surprise to them, but for new readers, you need to know that this has been happening for years and is really just old news.
Showing posts with label CNBC. Show all posts
Showing posts with label CNBC. Show all posts
Tuesday, October 9, 2012
Monday, October 1, 2012
Morning Charts 10/01/12 SPX /ES
Let's face it, they are gonna ease no matter what, how, why, when, where, whatever. We've been saying it for almost a year now. Their backs are against the wall. They have no way out. They will print until the gates of hell open and we are all sucked down the tube to eternal damnation.
From Zero Hedge, "Gold and Silver and surging this morning as the Fed's Charles Evans talks on CNBC of the need for more accomodative policy by the Fed. His 'infiniter' easing seems to have sparked this move as he clarifies the seeming psychopathy of the Federal Reserve's actions. His message clearly is that the amount doesn't matter (nor the unintended consequences), the printing and flooding of money into an already stuffed banking system will continue until morale improves." Permadove Chuck Evans Speaks, Precious Metals Soar (emphasis mine)
From Zero Hedge, "Gold and Silver and surging this morning as the Fed's Charles Evans talks on CNBC of the need for more accomodative policy by the Fed. His 'infiniter' easing seems to have sparked this move as he clarifies the seeming psychopathy of the Federal Reserve's actions. His message clearly is that the amount doesn't matter (nor the unintended consequences), the printing and flooding of money into an already stuffed banking system will continue until morale improves." Permadove Chuck Evans Speaks, Precious Metals Soar (emphasis mine)
Monday, April 16, 2012
Morning Market Commentary and Charts 04/16/12 #SPX $ES
To be kind (and appease the handler) I'll start with the establishment's spin on C earnings. "Citigroup reported lower first-quarter profit on Monday, as the bank worked to contain expenses in the face of volatile capital markets and the need to finish overhauling its business portfolio after the financial crisis. Citigroup Profit Beats Street, Revenue Falls Short - US Business News - CNBC
Now we are past that, we'll deliver the STB take on C's earnings. First, the crisis was in 2008 and here we are 4 years later. One would think that the "overhaul" would have been completed some time ago. Second, they say "after the financial crisis". Uh, hello, McFly, the crisis NEVER ENDED. Third, a revenue miss of 47%? I don't care what line of crap you try and feed me, that is a total disaster. I suggest you eternal optimists read The Two Charts That Matter From Citi's Earnings Presentation | ZeroHedge.
Now we are past that, we'll deliver the STB take on C's earnings. First, the crisis was in 2008 and here we are 4 years later. One would think that the "overhaul" would have been completed some time ago. Second, they say "after the financial crisis". Uh, hello, McFly, the crisis NEVER ENDED. Third, a revenue miss of 47%? I don't care what line of crap you try and feed me, that is a total disaster. I suggest you eternal optimists read The Two Charts That Matter From Citi's Earnings Presentation | ZeroHedge.
Wednesday, February 1, 2012
Morning Market Commentary and Charts 02/01/12 #SPX #Gold #EUR/USD
I'm already annoyed enough with all the EU bull and the hopium trade, then I see this headline this morning, Is the Facebook IPO the Start of Another Tech Bubble? - CNBC. Yes, some dork gets paid to write shit like that. I may have to totally rework the blog to a hopium induced orgy of green shoot bullshit. How's this sound for a first post - Unicorns Take It Up the Ass And Shit Gold Bricks - Is There One With Your Name On It? I bet it would get a gazillion hits. It would be picked up by the AP and poof I would be the next hottest guest host on CNBS. The whole entitlement crowd would be searching far and wide for their take of the load. It is not St. Patrick's Day, but I think the groundswell looking for the loot would look something like this.
Thursday, January 19, 2012
Morning Post 01/19/12 (SPX)
You gotta separate what's real from what's false and then place your bets on what's not real. That is the sad reality of investing today. Want proof? Let's look at two reports on BAC from this morning and see what the MSM, Wall St. and the central planners want you to hear and see and then lets look at what's really behind those stellar earnings.
The MSM, all is well, nothing to worry about, throw your money in the pot so you can retire rich and we can make massive fees off of you while you actually go poor view - From CNBC, Bank of America Rebounds to Post Profit; Shares Surge - US Business News - CNBC, "Bank of America matched profit expectations and exceeded revenue estimates for quarterly earnings, sending shares that had been trading below $5 just a month ago spiking higher in premarket trading." and add, "In particular, BofA said it made $2 billion in the fourth quarter by selling its stake in a Chinese bank and selling debt. That offset losses and higher legal expenses in its mortgage business."
The MSM, all is well, nothing to worry about, throw your money in the pot so you can retire rich and we can make massive fees off of you while you actually go poor view - From CNBC, Bank of America Rebounds to Post Profit; Shares Surge - US Business News - CNBC, "Bank of America matched profit expectations and exceeded revenue estimates for quarterly earnings, sending shares that had been trading below $5 just a month ago spiking higher in premarket trading." and add, "In particular, BofA said it made $2 billion in the fourth quarter by selling its stake in a Chinese bank and selling debt. That offset losses and higher legal expenses in its mortgage business."
Monday, March 1, 2010
Tick, Tick, Tick - BOOM!
Well, not BOOM! yet, but we're getting closer.
The definition of insanity is what it is. SSDD. But what if this insanity is some sort of measured move by a bunch of really greedy mofos that knew what they were doing all along? Or, a bunch of greedy mofos that royally screwed up trying to build massive wealth, got bailed out and in the face of disaster wound up owning everything anyway?
Bottom line, luck or planned, the banks have pwned society. They now have all the money, all the power and we are all indebted to them basically forever (yes, even those of you that have paid off everything). This sad situation that began (for purposes of this point) in the early 90's with the blow out of regulatory powers is now ending with a ponzi scheme that will destroy the global financial system.
Financial fraud is rampant. From The Rumor Bag: Financial Firms Receiving Widespread Subpoenas For Euro Shorting Collusion from Zero Hedge is the latest and greatest on wire. Maybe the Europeans have a bigger set of regulatory testicles than we have and something may actually come of the persecution rather than the obligatory fine and admission to NOTHING.
Yes, I said destroy the global financial system. Zero Hedge also found this one from Chris Wood on CNBS - CLSA's Chris Wood "In Five Years The US Dollar Paper Standard Will Collapse". I agree on the total collapse of the dollar paper standard but not with any of his optimism surrounding anything regarding strength in any markets. He tells the tale I tell. It all statrts with a meltdown in Europe and the tsunami winds up here where it was all created.
I enjoyed this Ron Paul vid Broken Us Government with Ron Paul.avi Listen to the man. He's been the only one warning us of the truth and crisis for years. "We are insolvent...Governments always liquidate debt by destroying the currency." If you don't listen to me will you listen to RP?
Denninger has (via ZH) Balance Sheet Fraud Is Not Just For Enron (Or Banks). I bring it you you from Karl cause he dubs it down better. "That is no hedge, it is a loan. It was done to cook the book and, in my opinion, falsely present the "health" of the nation - in this case Italy - involved. It was done over the counter with no paper trail or exchange trading for the explicit purpose of secrecy, so that nobody would discern that the government in question had borrowed the money." Countries, states, pensions, Social Security - you name it - ALL INFLATED BULLSHIT. Kicking the can down the road borrowing and spending like there is no tomorrow. Well, tomorrow is finally here. We have been living above our means and creating bullshit Ponzi style financing for a couple of generations now. It is time to pay the band and we've nothing left.
One final note, just to bring it home to the state level (since most of our states are bigger than some of the sovereigns that are in trouble) Mish has - Rep. Suzie Bassi: "Illinois in Utter Crisis, Next to Bankruptcy, $13bn Hole in a $28bn Budget"; Ambrose Evans Pritchard Inflicted with FIV "I do not know why economists believe in fairy tale economics and free lunches when the average 6th grader would know better. The only theory I can come up with to explain this phenomenon is a renewed outbreak of the Fiscal Insanity Virus rapidly spreading the globe. Ambrose Evans-Pritchard is no doubt, infected." I keep harping on basic math. Simple math that says none of this can be afforded or paid off. None of it.
And now we have proof of TUNGSTEN? Gold bugs beware. Now no one knows what is real and what is not. Can this be real? I'll have to dig for the study, but i believe it has been proven that there is much more gold claimed to be owned that there has ever been mined in the history of the world.German ProSieben TV Channel Finds 500 Gram Tungsten Bar At W.C.Heraeus Gold Foundry With Bank Origin
You see, tick, tick, tick, the clock is ticking to global insolvency. The lies and fraudulent accounting have caught up to the countries and states that have fed at the debt trough for far to long (at the expense of the taxpayers around the globe so the banks could make billions). Don;t believe anyone that says this will be OK or that will be alright. Screw Swine Flu, the global financial system has something worse than the Ebola virus. The contagion was passed around in the money orgy. It has spread to every sovereign nation now. The only question that remains is what or who will survive the final meltdown.
The definition of insanity is what it is. SSDD. But what if this insanity is some sort of measured move by a bunch of really greedy mofos that knew what they were doing all along? Or, a bunch of greedy mofos that royally screwed up trying to build massive wealth, got bailed out and in the face of disaster wound up owning everything anyway?
Bottom line, luck or planned, the banks have pwned society. They now have all the money, all the power and we are all indebted to them basically forever (yes, even those of you that have paid off everything). This sad situation that began (for purposes of this point) in the early 90's with the blow out of regulatory powers is now ending with a ponzi scheme that will destroy the global financial system.
Financial fraud is rampant. From The Rumor Bag: Financial Firms Receiving Widespread Subpoenas For Euro Shorting Collusion from Zero Hedge is the latest and greatest on wire. Maybe the Europeans have a bigger set of regulatory testicles than we have and something may actually come of the persecution rather than the obligatory fine and admission to NOTHING.
Yes, I said destroy the global financial system. Zero Hedge also found this one from Chris Wood on CNBS - CLSA's Chris Wood "In Five Years The US Dollar Paper Standard Will Collapse". I agree on the total collapse of the dollar paper standard but not with any of his optimism surrounding anything regarding strength in any markets. He tells the tale I tell. It all statrts with a meltdown in Europe and the tsunami winds up here where it was all created.
I enjoyed this Ron Paul vid Broken Us Government with Ron Paul.avi Listen to the man. He's been the only one warning us of the truth and crisis for years. "We are insolvent...Governments always liquidate debt by destroying the currency." If you don't listen to me will you listen to RP?
Denninger has (via ZH) Balance Sheet Fraud Is Not Just For Enron (Or Banks). I bring it you you from Karl cause he dubs it down better. "That is no hedge, it is a loan. It was done to cook the book and, in my opinion, falsely present the "health" of the nation - in this case Italy - involved. It was done over the counter with no paper trail or exchange trading for the explicit purpose of secrecy, so that nobody would discern that the government in question had borrowed the money." Countries, states, pensions, Social Security - you name it - ALL INFLATED BULLSHIT. Kicking the can down the road borrowing and spending like there is no tomorrow. Well, tomorrow is finally here. We have been living above our means and creating bullshit Ponzi style financing for a couple of generations now. It is time to pay the band and we've nothing left.
One final note, just to bring it home to the state level (since most of our states are bigger than some of the sovereigns that are in trouble) Mish has - Rep. Suzie Bassi: "Illinois in Utter Crisis, Next to Bankruptcy, $13bn Hole in a $28bn Budget"; Ambrose Evans Pritchard Inflicted with FIV "I do not know why economists believe in fairy tale economics and free lunches when the average 6th grader would know better. The only theory I can come up with to explain this phenomenon is a renewed outbreak of the Fiscal Insanity Virus rapidly spreading the globe. Ambrose Evans-Pritchard is no doubt, infected." I keep harping on basic math. Simple math that says none of this can be afforded or paid off. None of it.
And now we have proof of TUNGSTEN? Gold bugs beware. Now no one knows what is real and what is not. Can this be real? I'll have to dig for the study, but i believe it has been proven that there is much more gold claimed to be owned that there has ever been mined in the history of the world.German ProSieben TV Channel Finds 500 Gram Tungsten Bar At W.C.Heraeus Gold Foundry With Bank Origin
You see, tick, tick, tick, the clock is ticking to global insolvency. The lies and fraudulent accounting have caught up to the countries and states that have fed at the debt trough for far to long (at the expense of the taxpayers around the globe so the banks could make billions). Don;t believe anyone that says this will be OK or that will be alright. Screw Swine Flu, the global financial system has something worse than the Ebola virus. The contagion was passed around in the money orgy. It has spread to every sovereign nation now. The only question that remains is what or who will survive the final meltdown.
Thursday, November 19, 2009
What's Going On? (The Video Edition)
Let's get the game started with Senator Bob Corker (R-TN) - Interviewed on CNBS this morning - "We are throwing our country's future down the tubes. This bill is terrible." And, "It has more trickery, lower level, more sinister, than even what happened in the House. $189 billion in the hole." And "We're doing exactly the wrong thing and sending the wrong signals to our partners around the world that are funding our debt." And, "This is all about doing something for the President." And "We look at this as one oif the most backwards stepping thing for our country that we have seen in decades and will hurt out country for generations." Class act, ponzi scheme and new entitlement are other words that popped out of his mouth describing this bill. Please listen and heed his words.This is a classic. I love Corker.
Zero Hedge - Post-Lehman Deja Vu As T-Bill Yields Turn Negative - "The last time Bill yields turned negative (in essence investors paying the Government to hold their money for them) was in the days after the Lehman bankruptcy, when the entire world was about to blow up. So why did Bill yield for January maturity just turn negative once again?" For those of you looking for a top, this may be a clue. LOL, NEGATIVE T-Bill rates for goodness sakes.
Mish -Economists Opposing Fed Audit Are On Fed Payroll - This is a classic. We explored this earlier this year when we discovered that all of the economists are on the Fed's payroll as there really is no need for an economist sice they never get anything right. "That list of economists is anything but unbiased. The conflict of interest is clear, loud, and undeniable." Audit The Fed Needs Your Help ... Again! I could not agree more!
The Market Ticker - Since we are on the subject of auditing the Fed has- Oh Oh - Here Comes Cummings (Fed Audit) - "They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC AUDIT." I'm telling ya now, call your reps now while we have a chance to dave our country. this is the first step in getting our democracy back.
Zero Hedge - Dylan Ratigan Discusses The "Audit The Fed" Support Letter - since we appear to be hammering the subject home right now.
naked capitalism - Via Edward Harrison of Credit Writedowns -Marc Faber: “I don’t think that you’ll see gold below $1,000 per ounce probably ever” - Not sure I agree with the "ever" part of this, but I would agree it will be a long time before any meaningful fall. I went and got the vids from youtube for you. This is 1 of 2.
The Pragmatic Capitalist - CONGRESSMAN BRADY ASKS GEITHNER TO STEP DOWN - If you missed it this morning. Timaaay got grilled again. You gotta love it, but that smug ass punk just threw it back. I got the vid again. You should like this one.
And in a really sad note - UGA VII dies "Uga VII, the University of Georgia football mascot, died unexpectedly Thursday morning in Savannah." at least he got one last good whipping of Auburn before he went. RIP you good Dawg. RIP.
Have a great evening and GL trading.
Zero Hedge - Post-Lehman Deja Vu As T-Bill Yields Turn Negative - "The last time Bill yields turned negative (in essence investors paying the Government to hold their money for them) was in the days after the Lehman bankruptcy, when the entire world was about to blow up. So why did Bill yield for January maturity just turn negative once again?" For those of you looking for a top, this may be a clue. LOL, NEGATIVE T-Bill rates for goodness sakes.
Mish -Economists Opposing Fed Audit Are On Fed Payroll - This is a classic. We explored this earlier this year when we discovered that all of the economists are on the Fed's payroll as there really is no need for an economist sice they never get anything right. "That list of economists is anything but unbiased. The conflict of interest is clear, loud, and undeniable." Audit The Fed Needs Your Help ... Again! I could not agree more!
The Market Ticker - Since we are on the subject of auditing the Fed has- Oh Oh - Here Comes Cummings (Fed Audit) - "They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC AUDIT." I'm telling ya now, call your reps now while we have a chance to dave our country. this is the first step in getting our democracy back.
Zero Hedge - Dylan Ratigan Discusses The "Audit The Fed" Support Letter - since we appear to be hammering the subject home right now.
naked capitalism - Via Edward Harrison of Credit Writedowns -Marc Faber: “I don’t think that you’ll see gold below $1,000 per ounce probably ever” - Not sure I agree with the "ever" part of this, but I would agree it will be a long time before any meaningful fall. I went and got the vids from youtube for you. This is 1 of 2.
The Pragmatic Capitalist - CONGRESSMAN BRADY ASKS GEITHNER TO STEP DOWN - If you missed it this morning. Timaaay got grilled again. You gotta love it, but that smug ass punk just threw it back. I got the vid again. You should like this one.
And in a really sad note - UGA VII dies "Uga VII, the University of Georgia football mascot, died unexpectedly Thursday morning in Savannah." at least he got one last good whipping of Auburn before he went. RIP you good Dawg. RIP.
Have a great evening and GL trading.
Monday, September 14, 2009
Link to Santelli Rant this AM . - What Demonstrations?
Embedding ability was disabled by request.
http://www.youtube.com/watch?v=I8ANCD-Ykk4
http://www.youtube.com/watch?v=I8ANCD-Ykk4
Tuesday, September 8, 2009
Tom Brokaw Can Kiss My Butt (A Mini Rant)
In a must watch post for the ones that believe in disinformation practices. THE KING OF DISINFORMATION NBC attacks the bloggers and the Internet for spreading disinformation?
Brokaw, "There is so much disinformation out there that it is frightening. In a free society that depends on information to make informed decisions and this across the board access by the way....This is crazy."
You gotta be freaking kidding me that the parent of CNBS and the once mighty Tom Brokaw could be making this bogus statement. Excuse me, but you put fucking Cramer on TV and make this bullshit statement? Here is one bloggers opinion on your thought, get freaking lost and go back to retirement. Tom, I'd bet you don't even understand the information age IMO. I believe it blew past your old ass at 100mph, and you probably thought it was one of your farts. How's that for some disinformation.
Fucking bullshit I say. Tom, you did a great job in your day. You were my #1 nightly anchor when I used to watch the news on TV, but now you are basically calling all of us ignorant and incapable of making an informed decision. Why thank you, you god complexed ex anchor. I really appreciate what you did in your time, but now you can kiss my butt. Call me ignorant and ill informed and not capable of wiping my ass without help from a major network. Screw you!
So are you saying that you were able to lead the huddled IGNORANT masses all those years. Uh, OK, that says a lot for your accomplishments now, doesn't it? Now it is the internet's turn and they are stealing your viewers? What's the freaking difference, your shit does not stink and mine does? Listen, the propagandist bullshit that spews from your production rooms and the more than "truthful" advertising that support your bullshit programming is (along with ALL the other major media) the single greatest contributor to why we are a bunch of ill informed ignoramuses that can't make an informed decision you dip shit.
Guess what Tom, I got your quote off of a video on the Internet and I am making an informed decision from your words and that decision is that you and NBC and CNBC can all kiss off. I'll take my chances on the web.
Brokaw, "There is so much disinformation out there that it is frightening. In a free society that depends on information to make informed decisions and this across the board access by the way....This is crazy."
You gotta be freaking kidding me that the parent of CNBS and the once mighty Tom Brokaw could be making this bogus statement. Excuse me, but you put fucking Cramer on TV and make this bullshit statement? Here is one bloggers opinion on your thought, get freaking lost and go back to retirement. Tom, I'd bet you don't even understand the information age IMO. I believe it blew past your old ass at 100mph, and you probably thought it was one of your farts. How's that for some disinformation.
Fucking bullshit I say. Tom, you did a great job in your day. You were my #1 nightly anchor when I used to watch the news on TV, but now you are basically calling all of us ignorant and incapable of making an informed decision. Why thank you, you god complexed ex anchor. I really appreciate what you did in your time, but now you can kiss my butt. Call me ignorant and ill informed and not capable of wiping my ass without help from a major network. Screw you!
So are you saying that you were able to lead the huddled IGNORANT masses all those years. Uh, OK, that says a lot for your accomplishments now, doesn't it? Now it is the internet's turn and they are stealing your viewers? What's the freaking difference, your shit does not stink and mine does? Listen, the propagandist bullshit that spews from your production rooms and the more than "truthful" advertising that support your bullshit programming is (along with ALL the other major media) the single greatest contributor to why we are a bunch of ill informed ignoramuses that can't make an informed decision you dip shit.
Guess what Tom, I got your quote off of a video on the Internet and I am making an informed decision from your words and that decision is that you and NBC and CNBC can all kiss off. I'll take my chances on the web.
Friday, July 10, 2009
What Is Kneale Really Up To?
For those of you who do not follow The Market Ticker (who should have it in their daily reading), Karl Denninger is a witty down to earth brainiac that gives wonderfully truthful and intelligent easy to read analysis on a variety if issues effecting the market and your investments.
Denninger got involved with the whole moronic Dennis Keale v. bloggers discussion via a challenge he laid out to Dennis in Kneale: You Asked For It..... In this must read post for all P3 believers Karl discusses why the credit bubble has not popped and why the current recession is not over and will linger for a while. "Well Dennis, I don't think I should have to recite the last two+ years of numbers, nor the litany of new Fed Credit programs, nor the consumer credit numbers which were released today and which your network reported this afternoon, when you're the one claiming that "the recession is over" and argue against the credit recession position I put forward. But since you didn't bother with these nasty things called "facts", I'll do it for you."
Karl got invited to be on CNBS and discuss blogger identity issues. WTF? This worthless interview is really not worth the discussion or posting. However in Denninger's post Follow-Up To Dennis Kneale And CNBC, he offers a nice rebuttal that is really worth viewing (especially for the CNBS haters).
So, the questions continue from the blogosphere on CNBS's possible involvement in manipulating the market. Denninger lays out a wonderful refreshingly new argument that TD at ZeroHedge should dig a little deeper into (if Karl is not going to do so himself and ZH can get off of its GS tangent for a few posts). Front running I believe it is called. This is a new an different angle that if proven could wind up being as large as GS's "market manipulation" program issue (not in total volume, but in cheating via front running).
IMO everyone has to visit the john to puke after watching CNBS spew green shoot bullshit after an hour of so. I'm no genius, but I have enough common sense to know what is real and what is not. I personally have quit watching and now listen to a variety of things with Bloomberg Radio at the top of the list. What I want to ask is, what is Kneale's real purpose behind his attack of the blogs?
I called him a weasel for a good reason earlier. This BS attack blogger anonymity is a front for something IMO. Dennis may be a total idiot (as Karl calls him) when it comes to any sort of knowledge of the markets ("what is the VIX?), but he may be some sort of master at manipulating opinions or herding the sheeple in a specific direction. Look at who he works for.
It is a widely known fact that the blogs are destroying the major media, especially the print group. Attacks against blogs are becoming more prevalent for various reasons from content hijacking via linking to articles to bloggers being "non professionals" blogging on stuff they have no place writing about.
So just what is DK up to here? Is it simply name recognition or to increase viewership to his lame show or is their something more to this? Just what is this weasel up to? I do not trust him or his network and would not be posting on this issue if I did not have the opinion that the front man for GE is on a mission assigned by his taskmasters to do something to discredit the blogosphere.
The list is long of blogs that consistently challenge and disprove the bullshit that CNBS spews (well, the 60% IMO that is not truth). I would not be surprised to find that the blogosphere's attacks of CNBS have cost them viewership and shifted viewers to other sources (well, the content has something to do with the shifting of viewers as well I'm sure). Is CNBS using DK in some sort of offensive in a larger plan to weaken the web and its freedoms to further attack our Constitutional right to free speach so they can further dominate and protect their turf?
A note to Karl and the other bloggers that may get sucked into these worthless discussions - Watch out for the Weasel.
Denninger got involved with the whole moronic Dennis Keale v. bloggers discussion via a challenge he laid out to Dennis in Kneale: You Asked For It..... In this must read post for all P3 believers Karl discusses why the credit bubble has not popped and why the current recession is not over and will linger for a while. "Well Dennis, I don't think I should have to recite the last two+ years of numbers, nor the litany of new Fed Credit programs, nor the consumer credit numbers which were released today and which your network reported this afternoon, when you're the one claiming that "the recession is over" and argue against the credit recession position I put forward. But since you didn't bother with these nasty things called "facts", I'll do it for you."
Karl got invited to be on CNBS and discuss blogger identity issues. WTF? This worthless interview is really not worth the discussion or posting. However in Denninger's post Follow-Up To Dennis Kneale And CNBC, he offers a nice rebuttal that is really worth viewing (especially for the CNBS haters).
So, the questions continue from the blogosphere on CNBS's possible involvement in manipulating the market. Denninger lays out a wonderful refreshingly new argument that TD at ZeroHedge should dig a little deeper into (if Karl is not going to do so himself and ZH can get off of its GS tangent for a few posts). Front running I believe it is called. This is a new an different angle that if proven could wind up being as large as GS's "market manipulation" program issue (not in total volume, but in cheating via front running).
IMO everyone has to visit the john to puke after watching CNBS spew green shoot bullshit after an hour of so. I'm no genius, but I have enough common sense to know what is real and what is not. I personally have quit watching and now listen to a variety of things with Bloomberg Radio at the top of the list. What I want to ask is, what is Kneale's real purpose behind his attack of the blogs?
I called him a weasel for a good reason earlier. This BS attack blogger anonymity is a front for something IMO. Dennis may be a total idiot (as Karl calls him) when it comes to any sort of knowledge of the markets ("what is the VIX?), but he may be some sort of master at manipulating opinions or herding the sheeple in a specific direction. Look at who he works for.
It is a widely known fact that the blogs are destroying the major media, especially the print group. Attacks against blogs are becoming more prevalent for various reasons from content hijacking via linking to articles to bloggers being "non professionals" blogging on stuff they have no place writing about.
So just what is DK up to here? Is it simply name recognition or to increase viewership to his lame show or is their something more to this? Just what is this weasel up to? I do not trust him or his network and would not be posting on this issue if I did not have the opinion that the front man for GE is on a mission assigned by his taskmasters to do something to discredit the blogosphere.
The list is long of blogs that consistently challenge and disprove the bullshit that CNBS spews (well, the 60% IMO that is not truth). I would not be surprised to find that the blogosphere's attacks of CNBS have cost them viewership and shifted viewers to other sources (well, the content has something to do with the shifting of viewers as well I'm sure). Is CNBS using DK in some sort of offensive in a larger plan to weaken the web and its freedoms to further attack our Constitutional right to free speach so they can further dominate and protect their turf?
A note to Karl and the other bloggers that may get sucked into these worthless discussions - Watch out for the Weasel.
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