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SuperBear Nouriel Roubini's "NO SOUP FOR YOU!" to Bleach Blonde Airhead on Bloomberg.

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July 16, 2008 – Comments (10) | RELATED TICKERS: SKF , SRS , DRYS

Hat tip to Gary North for posting the video. Gary North has a great quote "If you watch TV news shows, and you grow weary of 30-something airhaids trying to appear well-informed, you will love this. This harpy gets run over by a master. He refuses to say what she wants to hear: Uncle Sugar and Uncle Bernanke can't kiss it and make the pain go away."

Watch the video here: 

http://calculatedrisk.blogspot.com/2008/07/roubini-on-bloomberg-tv.html 

http://media2.bloomberg.com/cache/vrIG4cHtP.HQ.asf

FYI - I have posted on Nouriel Roubini on 03 Feb 08:

Nouriel Roubini: The Housing Debate: "it is not going to be okay"

It is worth a listen. 

 

10 Comments – Post Your Own

#1) On July 16, 2008 at 8:41 AM, TDRH (99.72) wrote:

I love the way he says that it is the wrong thing to do (socializing of bad debt) and that it will not work.   

In my mind backing the debt of these groups without changing the way they do business is grossly negligent.   If you are not going to force borrowers to have skin in the game for a guaranteed loan the problem will continue.    The problem is this change would cause  an immediate stock market correction, and would cause further decline in property values-bank failures.   It would be like ripping off a bandaid instead of letting it fester and rot.  Over time the correction will be worse for it, but the Fed, Congress and the treasury do not want to face the short term fallout and want to be seen as "doing something".

 

 

 

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#2) On July 16, 2008 at 9:03 AM, Gemini846 (60.44) wrote:

That was a great video. I need this guy's email address so I can give him a ^5. 

Privatizing the Gains and Socializing the Losses.. WTH is up w/ that. Lawmakers have been very astute at telling people that they need this too for thier own well being, and since the public schools taught them nothing about economics (honestly in 12th grade econ we watched the OJ simpson trial) then they buy it like fish on a fat worm.

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#3) On July 16, 2008 at 9:14 AM, GS751 (27.37) wrote:

David Einhorn has a nice speech he made on privatized profits and socialized losses.  It is here.

http://www.tilsonfunds.com/Einhorn-4-08.pdf 

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#4) On July 16, 2008 at 9:45 AM, LordZ wrote:

we watched the OJ trial, well if that isnt a commendation for our overly paid and too expensive school systems and a typical example of how our tax dollars are blown ~ watching the OJ trial.

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#5) On July 16, 2008 at 11:00 AM, GS751 (27.37) wrote:

Ron Paul is speaking right now to Bernanke...

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#6) On July 16, 2008 at 12:14 PM, abitare (63.42) wrote:

Jim Rogers 14 July 08:

 

 

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#7) On July 16, 2008 at 8:31 PM, AnomaLee (28.60) wrote:

Here's the video through YouTube


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#8) On July 16, 2008 at 8:40 PM, kdakota630 (29.66) wrote:

LOVE the Jim Rogers clips.  Probably the two guys I follow most are him and Peter Schiff, and I think you're the same.

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#9) On July 16, 2008 at 11:18 PM, abitare (63.42) wrote:

TDRH,

The new American business model of privatize the profits and make public the losses needs to be made illegal. CFC Mozillo unloaded $450 million in stock...etc...

Congress and the US government need to stand down and get out of the way of US businesses.

Gemini846,

Yep, I am for the ^5. The Professor is no push over. 

GS751,

I like Einhorn. FYI - Mish Shedlock did a review of his proposal. Ron Paul did 3+ interviews today. Fox News, CNBC with Kudlow, MSNBC

Lordz,

Lol, OJ trial? How did we get there? Now don't post that girl again, or we will get in trouble.

AnomaLee,

Thank you for the find and the post. 

 

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#10) On July 17, 2008 at 12:43 AM, lquadland10 (< 20) wrote:

Just one more nail in our coffin. The new bubble is alternative energy. Then because were broke the north American union with Canada Mexico and America. When the banks fail then martial law.    GLOBAL REAL ESTATE MARKETS FORUM
* Realty Reality *
Editorial

REALTY REALITY FSO ARCHIVES

The Invisible Hand
(of the U.S. Government)
in Financial Markets
by Robert Bell
April 3, 2005 This is just part of a past blog.  In the case of the market for U.S. Treasuries, the Financial Times summed up
exactly how small it really is in two major stories, one just under the masthead
on page one, on 24 January 2005. One story began, “During the past few years the
US has become dependent, not so much on millions of investors around the globe
but on a few individuals in a few of the world’s central banks.”[2] In 2003
these central bankers bought enough treasuries to cover 83% of the U.S. current
account deficit, and 86% of those purchases came from Asian central banks.

The two main sources of money for U.S. Treasuries are the central banks of Japan
and China. Japan held about $715 billion in U.S. Treasuries, as of November
2004, and China held about $191 billion.[3] All the other nations’ central banks
hold altogether, about the same amount again, roughly another trillion.

As the total of all obligations is about $4 trillion, two central banks
obviously hold about one quarter of the total. They are in the position to pump
or dump the Treasury market all by themselves. They can sell what they have or
simply stop buying when the Treasury sells.

Since the money comes from a handful of foreign central banks, the possible
rigging of the Treasury market equals the possible rigging of the foreign
exchange markets. These central banks have to buy dollars before they buy
Treasuries. Even Alan Greenspan has acknowledged that the two go together,
admitting that Asian central banks “may be supporting the dollar and U.S.
Treasury prices somewhat.”[4]

U.S. stock markets are also capable of being systematically rigged, and for the
same reason—a handful of players can dominate if they coordinate their actions.
The key choke point is in the number of mutual funds, which themselves hold
about 20% of all the stock in the major markets. Of the over 8000 all-stock
mutual funds, a mere 497 hold roughly three-fourths of the stock. This is easily
a small enough number to pump the market, whether through coordinated buying
disguised as programmed trading, or simply a follow-the-leader mechanism. All
the other thousands of funds and the millions of individuals around the globe
putting their money into these markets can do little more than follow the
momentum. No major U.S. stock market writer, advisor or player seems to publicly
acknowledge this, as far as I know. But the CEO (PDG) of the French insurance
giant AXA has acknowledged it: Claude Bebear wrote in his 2003 book Ils vont
tuer le capitalisme (They are going to kill capitalism):

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