Posts Tagged ‘Jon Stewart’

Obama No Longer Bothering to Lie Credibly: Claims Financial Crisis Cost Less Than S&L Crisis

Obama No Longer Bothering to Lie Credibly: Claims Financial Crisis Cost Less Than S&L Crisis

Courtesy of Yves Smith at Naked Capitalism 

I’m so offended by the latest Obama canard, that the financial crisis of 2007-2008 cost less than 1% of GDP, that I barely know where to begin. Not only does this Administration lie on a routine basis, it doesn’t even bother to tell credible lies. .And this one came directly from the top, not via minions. It’s not that this misrepresentation is earth-shaking, but that it epitomizes why the Obama Administration is well on its way to being an abject failure.

On the Jon Stewart Show (starting roughly at the 1:10 mark on this segment) Obama claims the cost of this crisis will be less than 1% of GDP, versus 2.5% for the savings and loan crisis (hat tip George Washington, sorry, no embed code, you need to go here):

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The reason Obama makes such baldfacedly phony statements is twofold: first, his pattern of seeing PR as the preferred solution to all problems, and second, his resulting slavish devotion to smoke and mirrors over sound policy.

The savings & loan crisis led to FDIC takeovers of dud banks and the creation of a resolution authority to dispose of bad assets. That produced costs which were largely funded by the Federal government. I’ve heard economists repeatedly peg the costs at $110 to $120 billion; Wikipedia puts it at about $150 billion. This approach, of cleaning up and resolving banks, has been found repeatedly to be the fastest and least costly way to contend with a financial crisis.

The reason Obama can claim such phony figures is that many of the costs of saving the financial system are hidden, the biggest being the ongoing transfer from savers to banks of negative real interest rates, which is a covert way…
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Jon Stewart On The Humor In The High Frequency Signing Scandal

Jon Stewart On The Humor In The High Frequency Signing Scandal

Courtesy of Tyler Durden

Just because every radioactive cloud has a humorous lining, here is how the event that will take home prices another major leg lower is made funny, thanks to Jon Stewart.

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Foreclosure Crisis
www.thedailyshow.com
Daily Show Full Episodes Political Humor Rally to Restore Sanity

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David Walker With Jon Stewart: “There Is No Party Of Fiscal Responsibility In Washington.

David Walker With Jon Stewart: "There Is No Party Of Fiscal Responsibility In Washington." (Daily Show Video)

Courtesy of The Daily Bail 

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
David Walker
www.thedailyshow.com
Daily Show Full Episodes Political Humor Tea Party

 

Video:  David Walker with Jon Stewart

Originally aired in January, but it has never been posted here before.  Walker is the former Comptroller General of the Untied States and is now President of the Peterson Foundation.

  • "There is no party of fiscal responsibility in Washington."
  • "When the statutory budget controls expired in 2002, Washington lost total control.  Unfunded tax cuts, unfunded war costs, expansion of entitlement benefits.  And we are where we are today."

David Walker Says US Government Immorality Will Lead To Bankruptcy (60 Minutes)

David Walker: "The United States Is On The Same Path To Bankruptcy As Greece" (VIDEO)

Daily Bail Exclusive Interview With David Walker: "Young People Wake Up, Ignorance And Apathy Make For A Toxic Mix"

Movie Trailer For ‘I.O.U.S.A.’ America The Bankrupt

PBS Frontline Explores The National Debt: ‘$10 Trillion And Counting’


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The Economic Crisis No One Saw Coming: A Convenient Untruth

The Economic Crisis No One Saw Coming: A Convenient Untruth

By Elliott Wave International

The single most convenient untruth about the 2008 (and counting) financial crisis is that it was unforeseen. For two years policymakers have insisted "There was no way to know ahead of time" that the liquidity boom would come to a screeching halt. Back in November 2008, in fact, the usually tight-lipped Queen of England herself publicly described the turmoil of international markets as "awful" and openly asked a panel of experts from the London School of Economics "Why did nobody notice?"

Her Majesty is right: Most financial authorities did NOT notice the crisis before it was too late. Comedy Central’s "The Daily Show with Jon Stewart" of all places provided the most poignant evidence: A March 2009 video montage shows executives and economists from the world’s leading financial firms repeatedly forecasting continued upside strength in stocks, plus renewed bull market growth in financials — right as debt markets came unhinged and the US stock market headed into a 50%-plus selloff.

Dubbed the "8-Minute Rap" (after the "18-Minute Gap" of Nixon’s Watergate tapes), the Daily Show video feature sent an equally powerful message, as the clip below makes plain.

Yet even as the mainstream authorities failed to detect the economic earthquake moving below their own feet, somebody did "notice" well in advance. That person was EWI’s president Bob Prechter.

The clip below is from a 2007 Bloomberg interview. Clear as PLAY, the foreseeable nature of the crisis emerges from Bob’s October 19, 2007 interview.

As the historic trend change began to unfold, Bob issued this timely insight:

"We’ve seen the first crack in the credit structure with a huge drop in commercial paper… These are the harbingers of a change toward the downside for the stock market, commodities including oil, and the debt market itself."

Don’t believe the convenient untruths. Get objective market analysis today. Download this free report that contains valuable market forecasts directly from the desk of Bob Prechter. This article, The Economic Crisis No One Saw Coming: A Convenient Untruth, was syndicated by Elliott Wave International. EWI is the world’s largest market forecasting firm. 

EWI also just sent me an offer for a free eBook on trading lessons (click on banner below). – Ilene 


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Video: Jon Stewart Blasts BP Over Oil Spill

Video: Jon Stewart Blasts BP Over Oil Spill

Via DAN FLETCHER at TIME 

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
The Spilling Fields
www.thedailyshow.com
Daily Show Full Episodes Political Humor Tea Party

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Jon Stewart on the Flash Crash

Jon Stewart on the Flash Crash

Courtesy of Josh M. Brown, The Reformed Broker 

The market plunged because of a "Perfect Storm"…one that happens about every two weeks.

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
A Nightmare on Wall Street
www.thedailyshow.com
Daily Show Full Episodes Political Humor Tea Party

 


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Bigotgate

Jon Stewart discusses Gordon Brown’s “bigoted” comment last night on the Daily Show. (Gordon Brown forgot to turn off his mic in the car, after speaking with the "sweetest old lady in England.") Opps. – Ilene

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Clustershag to 10 Downing
www.thedailyshow.com
Daily Show Full Episodes Political Humor Tea Party

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Michael Lewis On The Daily Show

Michael Lewis On The Daily Show

Courtesy of John Carney at Clusterstock

Michael Lewis talks about the financial crisis and subprime mortgages with the only news anchor Americans trust, Jon Stewart.

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Michael Lewis
www.thedailyshow.com
Daily Show
Full Episodes
Political Humor Health Care Reform

 


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Elizabeth Warren Explains the Financial Crisis and the Problem with the US Banking System

Elizabeth Warren Explains the Financial Crisis and the Problem with the US Banking System

Courtesy of Jesse’s Café Américain

This is from Elizabeth Warren’s 26 January 2010 appearance on The Daily Show.

Brilliant in its simplicity and its honesty. Very tough and straight talk.

Why do we have to see this on the Comedy Central Network, and hear the usual drivel and obfuscation on the mainstream media?

Watch it. Send it to a friend.

 


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Jon Stewart: Clusterf#@k to the Poor House – Fat cat flight delay

Jon Stewart: Clusterf#@k to the Poor House – Fat cat flight delay

Via Edward Harrison at Credit Writedowns

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Clusterf#@k to the Poor House – Flight Delay
www.thedailyshow.com
Daily Show
Full Episodes
Political Humor Health Care Crisis

 


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Phil's Favorites

What's Hot and What's Not: Retail Trade Employment vs Food Services and Drinking Places

Courtesy of Mish.

Inquiring minds may be interested in how the retail sector employment is performing vs food services and drinking places employment. Let’s take a look.

Retail Trade vs Food Service and Drinking – Thousands of Employees

Retail Trade vs Food Service and Drinking – Percent Change from Year Ago

Retail trade is not where you want to be right now, and it will get worse when the next recession hits.

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ValueWalk

New Study Examines How RIAs Select Actively Managed U.S. Equity Funds

By Advisor Perspectives. Originally published at ValueWalk.

BOSTON, MA. August 21, 2017. A new study reveals how large registered investment advisors (RIAs) select actively managed U.S. equity mutual funds. Among its key findings were that advisors are relatively insensitive to expense ratios on those funds – and that most fund companies should not be pressured to reduce fees. The study also found that wholesalers have little influence getting advisors to select their funds.

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Zero Hedge

So You Wanted To Be "Long Electricity" Into The Eclipse?

Courtesy of ZeroHedge. View original post here.

Energy traders who had hoped to make an easy profit by betting that spot electricity prices would climb around midday on Monday – an idea they may have found on this website - were bitterly disappointed when, instead of spiking, prices tumbled because of an unexpectedly large drop in demand.

Utilities and grid operators had contingency plans ready to compensate for the expected drop in solar. But even with utilities’ backup grids humming, supplies were still widely expected to drop. Instead, energy providers encountered something that they hadn’t anticip...



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Chart School

Transports- Global bulls market needs this support to hold!

Courtesy of Chris Kimble

Below looks at the Dow Jones Transports ETF (IYT) that remains in a long-term bull market.

...

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Insider Scoop

Earnings Scheduled For August 23, 2017

Courtesy of Benzinga.

Companies Reporting Before The Bell
  • Lowe's Companies, Inc. (NYSE: LOW) is estimated to report quarterly earnings at $1.62 per share on revenue of $19.54 billion.
  • American Eagle Outfitters (NYSE: AEO) is expected to report quarterly earnings at $0.16 per share on revenue of $823.66 million.
  • Express, Inc. (NYS...


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Biotech

Will CRISPR fears fade with familiarity?

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Will CRISPR fears fade with familiarity?

Courtesy of Patricia StapletonWorcester Polytechnic Institute

With all these ‘test-tube babies’ grown up, how have our reactions to the technology evolved? AP Photo/Alastair Grant

The first “test-tube baby” made headlines around the world in 1978, setting off intense debate on the ethics of researching human ...



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Digital Currencies

Cryptocurrency Hedge Fund Returns 2,129% YTD

Courtesy of ZeroHedge. View original post here.

We'll preface this post by saying we have never heard of the Alternative Money Fund - which "Specializes in Returning Freedom and Value" - and very well may never hear of it again, however it is notable for two things: i) it is a "hedge fund" invested entirely in cryptocurrencies and ii) it has allegedly generated a 2,129% return YTD, making it the best performer in hedgeco's ranking of asset managers YTD.

The "fund's" own description is similar to what one would find in any traditional asset manager, with one...



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OpTrader

Swing trading portfolio - week of August 21st, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Members' Corner

Why we need to act on climate change now

 

Why we need to act on climate change now

Interview with Jan Dash PhD, by Ilene Carrie, Editor at Phil’s Stock World

Jan Dash PhD is a physicist, an expert at quantitative finance and risk management, and a consultant at Bloomberg LP. In his thought-provoking book, Quantitative Finance and Risk Management, A Physicist's Approach, Jan devotes a chapter to climate change and its long-term systemic risk. In this article, Ilene interviews Jan regarding his thoughts on climate change and the way it can affect our futu...



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Mapping The Market

The App Economy Will Be Worth $6 Trillion in Five Years

Courtesy of Jean-Luc

This would be excellent news for AAPL and GOOG to a lesser extent although not inconsequential:

The App Economy Will Be Worth $6 Trillion in Five Years 

In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and -- crucially -- more money in apps. While on average people aren't downloading many more apps, App Annie expects global app usership to nearly double to 6.3 billion people in the next five years while the time spent in apps will more than double. And, it expects the...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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