Posts Tagged ‘Glenn Beck’

In The Headlights

In The Headlights

Courtesy of James Howard Kunstler 

LIMPOPO, SOUTH AFRICA - JULY 21: A lion walks past a jeep's headlights at the Pafuri game reserve on July 21, 2010 in Kruger National Park, South Africa. Kruger National Park is one of the largest game reserves in South Africa spanning 19,000 square kilometres and is part of the Great Limpopo Transfrontier Park. (Photo by Cameron Spencer/Getty Images)

     The toils of summer are bygone now. The days grow shorter and America stands in the darkling road of its own prospects like a dumb animal frozen in the blinding light of approaching fury. The White House must be a strange place these days with the management of the USA turned over to astrologasters, alchemists, prayer-wheel spinners, fakirs, viziers, necromancers and other visitors from occult realms unaffiliated with the dominion of reality. 

     One of these characters, Ms. Christina Romer, at a luncheon celebrating her departure as chief of the White House Council of Economic Advisors (i.e. readers of spilled goat innards) even blurted out that she had no idea what’s been going on in banking and business and how come America can’t be more like it was in 1999. Don’t cry for Christina. A cushy chair awaits her at the Hogwarts Berkeley outpost where she can repose in a trance of unknowing until California slides into its own tar pit of default and disintegration.

    It’s all a mystery in Washington. Nobody can figure out what happened to their green-eyed champion called Growth, that savior who rights all wrongs and insures our eternal exception from the sad fates of other less-blessed empires. Isn’t there a book of conjures somewhere in the Harvard Business School that guarantee perpetual growth — even if there are different tomes around the campus that describe the essential tragic nature of life, viz., that there is a beginning, a middle, and an end to everything. And while this might not be the end of the human project in North America, it is certainly the end of the cheap oil abbondanza, and everything spun off of it in the way of mass consumer luxury, with air-conditioning and a cherry on top.

     My own view — I might be wrong-- is that we are going through an epochal compressive contraction, which is the opposite of growth. Money is disappearing because debts are being welshed on in such a volume that all the digital dollars conjured out of chief wizard Ben Bernanke’s magic booty box are but empty spells cast into a hurricane of broken promises. This is no Hurricane Earl – which stared into the discharge tube of Lloyd Blankfein’s cappuccino machine and skidded off whimpering into the fogs of Newfoundland. This…
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“THERE IS A BUBBLE FORMING IN GOLD”

“THERE IS A BUBBLE FORMING IN GOLD”

Courtesy of The Pragmatic Capitalist 

Manpreet Gill, Asia strategist of Barclays Wealth says there is a bubble forming in gold prices and that investors should avoid the precious metal:

Source: CNBC

***

Interesting comment section too, for example, and including Pragcap’s thoughts on the subject:

Angry MBA 08/08/2010 at 2:15 PM

The man is on drugs. If not then it’s a pathetic attempt to scare investors away from the real money.

Gold isn’t money. I don’t know how you folks come to believe such nonsense, but it obviously isn’t.

The math is very simple: If the markets believed that gold was a substitute for money and fractional reserve debt, gold would be worth far more than it is now. There is simply not enough gold in the world to support global economic growth, which makes it obvious that the markets don’t share your enthusiasm for gold or your paranoia about real money, i.e. the money that you don’t like.

Gold is a traded commodity that rises and falls in value, just like everything else. The retail dupes who fell for this gold-is-sacred nonsense after the late 70′s gold bubble ended up getting their clocks cleaned.

  • Close-up of feathers of a peacock Horizontal

    TPC 08/08/2010 at 3:28 PM

    MBA,

    That will ruffle some feathers. The irony with gold is that, if anything, we are moving further and further from any sort of commodity or even a paper based money. We are evolving to the point where money is just a thing. It is becoming plastic and will soon be electronic. It will not even be tangible in 500 years is my guess. The “gold is money” argument is sold by the Glenn Becks of the world (who have a vested interest in pushing the product – literally) and other people who don’t understand how monetary systems changed in 1971 and have not studied the history of money. Nonetheless, there is no reason to expect these misconceptions to change.

    Money is effectively an IOU. Who cares whether it comes in gold form or paper form or electronic form? All have their weaknesses and none have really proven to serve society better than another (except in terms of transportability in which case gold is the obvious loser).


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Back in Black: Glenn Beck’s Nazi Tourette’s

Back in Black: Glenn Beck’s Nazi Tourette’s

Courtesy of Miss Trade, Trading for the Masses  

Glenn Beck plays Six Degrees of Kevin Bacon, except there’s just one degree and Kevin Bacon is Hitler. Back in Black segment featuring Lewis Black. From The Daily Show Wednesday May 12, 2010.

more about " Back in Black: Glenn Beck’s Nazi Tou…", posted with vodpod 

 


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There’s a Better Way to Answer the Question: “Are You Angry?”

 Video clip, Donny Deutsch Lumps Olbermann In With “Crazys” Limbaugh And Beck (via Mediaite). – Ilene 

 

Did MSNBC make a mistake in pulling Donny Deutsch’s show about anger in American media, which I never would have watched, but now kind of wouldn’t mind having it on in the background, or is this all a publicity grab?…  So, so cynical.

From Jr. Deputy Accountant: 

TLP: There’s a Better Way to Answer the Question: "Are You Angry?"

msnbc olbermann
MSNBC has spiked a planned weeklong report by adman Donny Deutsch called, "America the Angry," after part of one installment made network anchor Keith Olbermann, uh, angry. Deutsch included Keith-O in a segment on angry media figures, along with Rush Limbaugh, Glenn Beck and Bill O’Reilly. Hmmm, what could have set him off?

NYT:

The incident led to charges that MSNBC, a unit of NBC Universal, had stifled criticism of itself on its own channel.

“The segment did not go unnoticed and we’re dealing with it internally,” Jeremy Gaines, an MSNBC spokesman, said Wednesday.

Four people briefed on MSNBC’s decision said that Mr. Olbermann was angered by the segment, and that his displeasure prompted the cancellation of the “America the Angry” series. But in an e-mail message Mr. Olbermann said that account was untrue; he wrote that Phil Griffin, the president of MSNBC, “phoned me yesterday enraged at what was on that show and I didn’t disagree with him.”

Mr. Deutsch, the well-known advertising executive, declined to comment on either version of events Wednesday afternoon, but said that “for whatever reason they decided they didn’t want to go with it the rest of the week.”

Funny, but I don’t recall NBC pulling the plug on "Saturday Night Live" after this: 

 


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Our Turn?

Very dismal forecast from our friend James Kunstler, he writes so beautifully but I hope he’s wrong. – Ilene 

Our Turn?

Germany: Rally of Nazi

Courtesy of James Howard Kunstler

     Nations go crazy. It’s terrifying when it happens, especially to a major nation with the ability to project its craziness outward. We look back on the psychotic break of Germany in 1933 and still wonder how the then-best-educated population in Europe could fall under the sway of a sociopathic political program. We behold the carnage and devastation left in the wake of that episode, and decades later you still can do little more than shake your head in bewilderment.

     China had a psychotic break in the 1960s in its "cultural revolution," provoked by the mad neo-emperor Mao. He sent cadres of Chinese baby boomer youths rampaging across the land, turned every institution upside down, and let millions starve. Mao’s China lacked the ability then to export this mischief, but enough of his own people suffered.

     Cambodia was the next humdinger of a national nervous breakdown when the Paris-educated classic marxist Pol Pot decided to make the world’s biggest omelette by cracking a million eggs. He took everybody wearing eyeglasses, everybody who appeared to have a thought in his or her head, and sent them out to the bush to be worked to death, or shot in ditches, or disposed of otherwise. The mounds of skulls remain to tell the tale.

     Lately we’ve had the Hutu-Tutsi genocides in Rwanda, the craziness in former Yugoslavia, the cruelty of Darfur, the international suicide-bomber craze (including today’s blasts in Moscow). Surely, I’ve left a few out… but these are minor episodes compared to what be coming next.

     Am I the only one who senses it might be America’s turn to go nuts? I don’t mean a family squabble, like the Boomer-Hippie-Vietnam uproar that was essentially an adolescent rebellion against bad parenting in the national household. I mean a genuine descent into madness, with the very high probability of persecution, violence, murder, and mayhem — all more or less sponsored by various authorities and institutions.

     The Republican Party is doing a great job in provoking such a dangerous episode by making consensual governance impossible in a time of awful practical problems and challenges. They’re in the process, right now, of transforming themselves from…
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Jon Stewart on Glenn Beck’s Gold Interest

Jon Stewart on Glenn Beck’s Gold Interest

H/t to Barry Ritholtz

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Beck – Not So Mellow Gold
www.thedailyshow.com
Daily Show
Full Episodes
Political Humor Health Care Crisis

 


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MUST WATCH: Glenn Beck And The Dollar Carry

Trilogy of Must Watch (Glenn Beck), Must Read (China’s pollution problem) and Must Write that outrageously duplicitous Watt and your Congressional Reps (WatTF!) courtesy of Karl Denninger at The Market Ticker. – Ilene

MUST WATCH: Glenn Beck And The Dollar Carry

 


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Reality Receding

     Now that everybody in the USA, from the janitors in their man-caves to the president addressing congress, has declared the "recession" over, is exactly the moment when what’s left of the so-called economy is most likely to implode.  If there were still shoeshine boys on Wall Street, they’d be starting their own hedge funds now, and CNBC’s Larry Kudlow would be toasting them in the Grill Room of The Four Seasons.  What we’ve seen in the vaunted rally for the last six months is the triumph of wishing over facts, combined with the most arrant market manipulation by floundering banks backstopped by a panicked government — all pounding sand down a rat-hole of hopeless non-performing debt, while pretending that the machinery of capital finance still grinds on.
     Despite what a few elderly Mr. Naturals may say about abolishing "capitalism," we’re not going to have an advanced economy without a coherent banking system, and by advanced economy I mean one in which the lights stay on.  By coherent I mean a system that is able to deploy accumulated wealth for productive purposes, in the service of continuing civilization. (And, yes, I know that the followers of Daniel Quinn are not so sure that civilization is worth the trouble, but unless you support the killing-off of about six billion humans right away, things on Earth are not favorably disposed just now for a return to hunting-and-gathering.)
      I would hasten to cut through the fog of despair to reassert — for the thousandth time — that a true American perestroika is possible, if the public could overcome the plague of cognitive dissonance sweeping the land and form a consensus for action that comports with reality’s agenda.  But that is looking less and less likely. Instead, what we see is a rush into delusion, seasoned with grievance and gall. Spectacles like last weekend’s march on Washington don’t happen for no reason, of course.  From where I sit, the uproar can be attributed to comprehensively bad American leadership, a crisis in authority and legitimacy that has left a functional vacuum in every executive office throughout the land — from the White House to the state houses, to the lairs of the CEOs, to the towers of the deans and department chairs, to


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Rotten ACORNs Don’t Fall Far From The Tree

Here’s Karl Denninger’s outrage on the ACORN affair.  Courtesy of Karl’s The Market Ticker. 

Rotten ACORNs Don’t Fall Far From The Tree


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Video Night – Zero Hedge & Karl Denninger

Here’s some video entertainment collected during the day by Zero Hedge and a new one featuring Karl Denninger at The Market Ticker.

Glenn Beck Explains The Goldman Web

Spider-squid, spider-squid, does whatever a spider-squid does.
 

 

Janet Tavakoli On The Causes Of The Global Financial Meltdown

Highly informative C-Span interview with Janet Tavakoli to go with the morning coffee.

 
  

Max Keiser: "Goldman Sachs Are Scum"

"They are literally stealing a hundred million dollars a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, they should be taken on financial terrorism charges. They should all be thrown in jail"

Well, at least one person says what he thinks.

 
  

CNBC: You Owe America An Apology

Courtesy of Karl Denninger at The Market Ticker

 

 


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Zero Hedge

Walmart Transforming 160 Parking Lots Into Drive-In Movie Theaters

Courtesy of ZeroHedge View original post here.

In May, readers may recall we said social distancing would revive drive-in movie theaters in a post-corona world. And boy, were we right.  

A press release via Walmart on Wednesday (July 1) said, "Walmart is transforming 160 of its store parking lots into contact-f...



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ValueWalk

The "Next Netflix" Has Finally Revealed Itself

By Mauldin Economics. Originally published at ValueWalk.

A sleeping giant tech stock has awoken. It’s already handing out monster gains. And as I’ll show you today, it’s just getting warmed up.

Q2 2020 hedge fund letters, conferences and more

In fact, it won’t be long before this stock is mentioned in the same breath as hall-of-famers like Netflix (NFLX), Facebook (FB), and Google (GOOG). That’s right. The next great tech stock is growing up before our eyes.

I don’t say that lightly. Within a few years, this compan...



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Phil's Favorites

Coronavirus deaths and swelling public sector debt share a data-quality problem

 

Coronavirus deaths and swelling public sector debt share a data-quality problem

Different countries report coronavirus data differently. Shutterstock.com

Courtesy of Marion Boisseau-Sierra, Cambridge Judge Business School

Watching scientists, politicians and journalists struggle to compare national death rates from the coronavirus pandemic, I had an acute case of déjà vu. Though the virus may be novel, the confusion generated by inconsistent data standards is anything but. It’s something I&...



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Biotech/COVID-19

Coronavirus deaths and swelling public sector debt share a data-quality problem

 

Coronavirus deaths and swelling public sector debt share a data-quality problem

Different countries report coronavirus data differently. Shutterstock.com

Courtesy of Marion Boisseau-Sierra, Cambridge Judge Business School

Watching scientists, politicians and journalists struggle to compare national death rates from the coronavirus pandemic, I had an acute case of déjà vu. Though the virus may be novel, the confusion generated by inconsistent data standards is anything but. It’s something I&...



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Chart School

Golds quick price move increases the odds of a correction

Courtesy of Read the Ticker

Every market corrects, maybe profit taking, maybe of allowing those who missed out, to get in!


The current open interest on the gold contract looks to high after a very fast price move, it looks like 2008 may be repeating. A quick flushing out of the weak hands open interest may take place before a real advance in price takes place. The correction may be on the back of a wider sell off of risk assets (either before of after US elections) as all assets suffer contagion selling (just like 2008).

This blog view is a gold price correction of 10% to 20% range is a buying opportunity. Of course we may see  a very minor price correction but a long time correction, a price or time is correction is expected, we shall watch and...

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The Technical Traders

Wild Volatility Continues As US Markets Attempt To Establish New Trend

Courtesy of Technical Traders

We’ve continued to attempt to warn investors of the risks ahead for the US and global markets by generating these research posts and by providing very clear data supporting our conclusions.  Throughout the entire months of May and June, we’ve seen various economic data points report very mixed results – and in some cases, surprise numbers as a result of the deep economic collapse related to the COVID-19 virus event.  This research post should help to clear things up going forward for most traders/investors.

As technical traders, we attempt to digest these economic data factors into technical and price analysis while determining where and what ...



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Kimble Charting Solutions

Nasdaq 100 Relative Strength Testing 2000 Highs

Courtesy of Chris Kimble

The tech bubble didn’t end well. BUT it did tell us that the world was shifting into the technology age…

Since the Nasdaq 100 bottomed in 2002, the broader markets have turned over leadership to the technology sector.

This can be seen in today’s chart, highlighting the ratio of Nasdaq 100 to S&P 500 performance (on a “monthly” basis).

As you can see, the bars are in a rising bullish channel and have turned sharply higher since the 2018 stock market lows. This highlights the strength of the Nasdaq 100 and large-cap tech stocks.

...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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