Comments on: Forbes Polls the Wackosphere and Gets An Earful http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/ Be prepared. Stay ahead of the herd. Thu, 24 May 2012 11:45:17 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: bluesky http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-2/#comment-137262 bluesky Thu, 03 Sep 2009 06:52:09 +0000 http://wallstreetexaminer.com/?p=5710#comment-137262 On 1 September I listened to the CEO of VISA on CNN Europe say that consumer spending is the lowest he has ever seen. Consumers have shifted spending from credit cards to debit cards and consumer spending is NOT rising. And he has no idea when it will rise. Is that the basis for a European market at 45 times earnings? The US consumer is 25% of global consumer spending. The US consumer spends 4 times the amount that China and India put together are spending. Therefore the "decoupling" theory is a farce. Global markets will drop sharply by the end of Q3 earnings season when it is apparent to all there is no revenue growth. Anywhere. On 1 September I listened to the CEO of VISA on CNN Europe say that consumer spending is the lowest he has ever seen. Consumers have shifted spending from credit cards to debit cards and consumer spending is NOT rising. And he has no idea when it will rise. Is that the basis for a European market at 45 times earnings? The US consumer is 25% of global consumer spending. The US consumer spends 4 times the amount that China and India put together are spending. Therefore the “decoupling” theory is a farce. Global markets will drop sharply by the end of Q3 earnings season when it is apparent to all there is no revenue growth. Anywhere.

]]> By: Gil Smart http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137195 Gil Smart Wed, 02 Sep 2009 17:54:14 +0000 http://wallstreetexaminer.com/?p=5710#comment-137195 Lee, if you haven't seen it you'll be thrilled () at this Daniel Gross piece over at Slate.com today: http://www.slate.com/id/2226921 Lee, if you haven’t seen it you’ll be thrilled () at this Daniel Gross piece over at Slate.com today:

http://www.slate.com/id/2226921

]]> By: Kinsey Barnard http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137179 Kinsey Barnard Wed, 02 Sep 2009 12:55:43 +0000 http://wallstreetexaminer.com/?p=5710#comment-137179 So refreshing to hear the truth spoken. So refreshing to hear the truth spoken.

]]> By: Steve http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137173 Steve Wed, 02 Sep 2009 07:58:16 +0000 http://wallstreetexaminer.com/?p=5710#comment-137173 Very interesting read. Thank you very much! Very interesting read. Thank you very much!

]]> By: john newman http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137119 john newman Tue, 01 Sep 2009 13:47:20 +0000 http://wallstreetexaminer.com/?p=5710#comment-137119 The bear market in main stream media is pretty well earned, but it's no conspiracy: the rubes aren't doing themselves in on purpose, it's just what Menkin said about the difficulty of convincing someone who's salary depends on their not believing. Your traffic is going up, theirs down! Keep talking! It's ironic that the apotheosis of Civil Rights legislation, wherein one person finally got one vote virtually coincided with Buckley v Valeo in 1976 whereby the Supreme Court determined that money was speech making moot 200 years of the extending franchise. Now barely thirty years left our vote means about as much as Iran's and we are left with the Republic of Cash. What is encouraging is the declining value of that cash. The bear market in main stream media is pretty well earned, but it’s no conspiracy: the rubes aren’t doing themselves in on purpose, it’s just what Menkin said about the difficulty of convincing someone who’s salary depends on their not believing.

Your traffic is going up, theirs down! Keep talking!

It’s ironic that the apotheosis of Civil Rights legislation, wherein one person finally got one vote virtually coincided with Buckley v Valeo in 1976 whereby the Supreme Court determined that money was speech making moot 200 years of the extending franchise.

Now barely thirty years left our vote means about as much as Iran’s and we are left with the Republic of Cash. What is encouraging is the declining value of that cash.

]]> By: Mies Van Der Rump http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137086 Mies Van Der Rump Tue, 01 Sep 2009 11:44:51 +0000 http://wallstreetexaminer.com/?p=5710#comment-137086 <> ROFL!!! Would love to see them reading this: "WTF? Who the heck IS this guy?" <>

ROFL!!! Would love to see them reading this: “WTF? Who the heck IS this guy?”

]]> By: ndk http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-137035 ndk Tue, 01 Sep 2009 06:43:43 +0000 http://wallstreetexaminer.com/?p=5710#comment-137035 Excellent article for the screed alone, but the content is also surprisingly rich, for a piece so calorie-packed with sugar too. ;D The CP data slid off my map after the Fed launched credit facilities to intervene in the market. I had assumed it had recovered in lockstep with the credit derivative and equity markets, but it quite clearly hasn't. In retrospect, I shouldn't have been so shocked. If you follow the Z.1 -- and who doesn't -- it's very clear that the only source of money creation right now is indeed state, local, & federal government, as borrowing contracts in all other sectors. There is a very consistent picture here of increasing debt load on the government, with these Treasuries and Munis disproportionately owned by the top 1% and foreign central banks, even as debt load on consumers and corporations shrinks nominally. In a world full of offshore tax havens, where many of the underlying levers involved in seigniorage have been snapped off, how exactly is a greater debt owed by government different from a greater debt owed by American corporations and citizens? In a very real sense, not much has changed at all: we have just continued to lever up, and continued to increase the debt load on the citizenry, but we're just doing so in a marginally more egalitarian(e.g. everyone without tax advisors) way. In the process, we continue to indenture ourselves to the top 1%. I really think that, given their aims, Wall Street has actually managed this entire crisis with spectacular panache and faculty, and they should be quite pleased with the outcome. As a freebie, they are now even more in control of the Government. Bravo. I'm sitting entirely in nominal Treasuries. If you can't beat 'em... p.s. That stench of corruption in Wall Street is getting pretty pervasive in the field I work in too. I think the world is running out of places to hide from it. It's an effective strategy, and it will win over time. Excellent article for the screed alone, but the content is also surprisingly rich, for a piece so calorie-packed with sugar too. ;D

The CP data slid off my map after the Fed launched credit facilities to intervene in the market. I had assumed it had recovered in lockstep with the credit derivative and equity markets, but it quite clearly hasn’t.

In retrospect, I shouldn’t have been so shocked. If you follow the Z.1 — and who doesn’t — it’s very clear that the only source of money creation right now is indeed state, local, & federal government, as borrowing contracts in all other sectors.

There is a very consistent picture here of increasing debt load on the government, with these Treasuries and Munis disproportionately owned by the top 1% and foreign central banks, even as debt load on consumers and corporations shrinks nominally.

In a world full of offshore tax havens, where many of the underlying levers involved in seigniorage have been snapped off, how exactly is a greater debt owed by government different from a greater debt owed by American corporations and citizens?

In a very real sense, not much has changed at all: we have just continued to lever up, and continued to increase the debt load on the citizenry, but we’re just doing so in a marginally more egalitarian(e.g. everyone without tax advisors) way. In the process, we continue to indenture ourselves to the top 1%.

I really think that, given their aims, Wall Street has actually managed this entire crisis with spectacular panache and faculty, and they should be quite pleased with the outcome. As a freebie, they are now even more in control of the Government. Bravo.

I’m sitting entirely in nominal Treasuries. If you can’t beat ‘em…

p.s. That stench of corruption in Wall Street is getting pretty pervasive in the field I work in too. I think the world is running out of places to hide from it. It’s an effective strategy, and it will win over time.

]]> By: Lee Adler http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-136855 Lee Adler Tue, 01 Sep 2009 03:14:32 +0000 http://wallstreetexaminer.com/?p=5710#comment-136855 Thanks, Speak. Good thing they didn't ask me about health care and the 70% penalty we pay for livin' in the USA. Thanks, Speak. Good thing they didn’t ask me about health care and the 70% penalty we pay for livin’ in the USA.

]]> By: Lee Adler http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-136847 Lee Adler Tue, 01 Sep 2009 03:11:07 +0000 http://wallstreetexaminer.com/?p=5710#comment-136847 Nope. No pressure. Just the general stench. It was 1979-83. Nope. No pressure. Just the general stench. It was 1979-83.

]]> By: Speakeasy http://wallstreetexaminer.com/2009/08/31/forbes-polls-the-wackosphere-and-gets-an-earful/comment-page-1/#comment-136818 Speakeasy Tue, 01 Sep 2009 02:40:26 +0000 http://wallstreetexaminer.com/?p=5710#comment-136818 Nice job ass-kissing the Forbes combine! They will be having you back all the time now. fotflmao. I love you man. Your gall is my gall. :) Nice job ass-kissing the Forbes combine! They will be having you back all the time now. fotflmao. I love you man. Your gall is my gall. :)

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