Let me put a big fat DISCLAIMER up regarding the first one. Clear the kids out of the room before you watch it. Its filled with graphic language.
I thought this was pretty hilarious. Some of the J6P's that actually pay attention to what is going on out there in the economy have officially going postal. This guy is slowly building a cult following on You Tube.
If you take out the F-bombs the guy actually makes a lot of sense. I wish more Americans would wake up and get a clue!
Inflation Vs. Deflation
We discuss this topic a lot on here. I thought this was an excellent debate around both arguments.
Make sure you listen to economist Joseph LaVorgna in the middle of the video. I consider Joe to be one of the best economists out there. He makes a strong case for deflation in my view. Basically he explains that the Fed has thrown $1 trillion at a $3 trillion problem. This hardly seems inflationary.
I will continue to protect myself with inflationary hedges because I am still fearful that Bernanke will go too far in terms of flooding the market with dollars. Inflation will eventually arrive in my view, but it might be a few years away.
Anyway, enjoy the video!
18 comments:
As far as the first video goes, I'm glad I watched it before I went to pick up my kids at their dad's house. LOL
It's ironic how in the video he keeps talking about the wages at Wal-Mart. If you check out my blog, I made a new post today referencing how the unemployment numbers don't reflect the companies that are cutting back people's hours, and that there ae thousands of people affected by this. One of the companies that I was referencing was Wal-Mart. It's one of the accounts that I service (pharmaceuticals) and they have cut all full time workers in the area that I cover down to 35 hours, and they were told that was permanent. So far Department Managers are being asked to take a cut, but they still technically have 40 hours when times get better. Other companies I go to are doing the same thing with their help.
Also on my blog (I only publish occasionally)I go into prices that are increasing vs. prices that are decreasing (basically inflation vs. deflation).
I guess we were on the same wave length today. Check it out if you like. You can access it by clicking on my name, the blog is called "We are Screwn".
Be warned, it isn't as good as yours. I don't have a lot of time to go back and edit. I barely have time to write. LOL
Thanks for the videos Jeff. The guy actually is fairly articulate and knowledgeable, despite the swearing. Watch, they'll go after him for not disposing of his monitor correctly.
CT
I am glad you watched that before the kids got home!
I just checked out your blog. Nice post.
I have been amazed at how housing has held up in the DE,MD, DC area.
Nothing is selling but the buyers continue to holdout.
I guess they have to learn the hard way.
Rates are up 1/2 % in the last two weeks. This is deadly for housing prices.
As for wages the wage decreases, I see nothing that can reverse this trend.
Who knows? 4 day work weeks may become the norm down the road.
Zmon
I totally agree.
He needs a few psych meds to settle him down though! As for his talking points, he was pretty much dead on.
I think all of us would love to smash stuff as we hear all of the lies and manipulation coming out of Wall St.
What scares me is if things continue to spiral down, we might see 1 million of guys like that in DC holding torches and pitchforks demanding blood.
Wow
Great read in The New York Times!
Check it out
http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html?pagewanted=1&_r=2
Drudge is reporting that there is tensions within his economic team.
They are also reporting that Obama is going to come out with new banking regulations.
Both stories are developing.
http://www.drudgereport.com/
Futures are red....
I wonder if there is some concern around all of those treasury auctions this week? hehe
Jeff,
Could the guy in the first video be a frustrated Attilla?
Blankfiend
Blank
LOL
Trading is a tough game. I think many of us are surprised at how long this bounce has lasted.
I haven't been there in awhile. I heard he took a lot of heat.
Hi Jeff:
Here is a New York Times article on the "Doctor Phil of America" that you might find interesting to look at:
http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html
Ray
Hi Jeff:
Disregard my above-post. After sending my message, I noticed you had already read the article to which I was drawing your attention. My compliments to your rapid information feeds.
Ray
Ray
Thanks
Stocks taking a hit early. Yields continue to rise. Some banks are paying back thw tarp. What joke. All o
These firms will need the money as their balance sheets continu to deteriorate.
Its too early! This is ridiculous!.
Jeff:
My take on why the banks may be eager to pay back the TARP monies is that part of the monies may have been misappropriated. By paying it back, they will likely avoid having the future obligation under the Obama administration or another administration of having to account for it. Also, if they accept TARP type of money in the future (after paying back the current monies), they may be a bit more circumspect with how they account for it internally.
Ray
Apparently the first guy (wal$treetpro2 is his youtube chanel name) likes his neighbor's shed for his video reports.
Not saying he's a guy on an egotrip or anything....
Ray
Great insight on the TARP.
Never looked at it that way. It makes a lot of sense. Since there is no transparency we don't know how the TARP was used within the banks.
It will be interesting to see if there will be a TARP 2. Congress says no way.
Lets see if they still believe this when we start melting down again.
buzz
Yeah I hae seen some of his other stuff.
He just cracks me up. I have watched some of his other stuff.
Post up around 6:30
Zmon - you said "What scares me is if things continue to spiral down, we might see 1 million of guys like that in DC holding torches and pitchforks demanding blood."
Why does that scare you? You should pray that happens! Great video Jeff! F-bombs away!!! He's absolutely correct and I'd venture to say knows more than 99% of senate and congress. Hope he continues to build a following.
Anon
Thanks
I will keep an eye out for some new ones. He has done quite a few.
I agree. Bring on the torches!
Is that guy from Pittsburgh? Sure sounds like it.
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