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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Zero Hedge

LME Plans To Launch Yuan-Denominated Metals Futures Markets

Courtesy of ZeroHedge. View original post here.

In a sign the currency’s status in international finance is on the rise, and just a few short weeks after China unveiled its Yuan-denominated oil futures contract, the CEO of the London Metal Exchange has confirmed that it is planning to introduce yuan-denominated metal products.

As we noted recently, interest in China'...



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Digital Currencies

How the US Government Could Effectively Use Crypto

The US government could start, or officially endorse an existing crytpo coin. What they would do is build a fee into the software protocol that went to a single address that they control. This is effectively a tax. The fee could be a transaction fee, a percentage of the next block award, or a combination of both. How this works is every single transaction that occurs everywhere wihtin the system, the fee scalped goes directly to this single address that is owned by the IRS, in this case, the "New-IRS." Forget postcards. We're down to a single dude in one office chair in front of one computer. Imagine that being the IRS, because that's where this is going. The consequences of this mechanism are dramatic. First off the IRS is now one guy. Granted, this guy controls the private key for the most valuable thing in the world. This key would be the single most important key right up there with the nuclear launch code, but the system would most definitely still work. More strikingly, the US...

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Phil's Favorites

New Animal Spirits: What it takes to be wealthy

 

New Animal Spirits: What it takes to be wealthy

Courtesy of 

Michael and Ben’s new episode of Animal Spirits is out today, and it’s awesome as usual. If this isn’t part of your weekly routine yet, I don’t even know what to tell you at this point. No one is covering more interesting topics and blowing up like this podcast is.

This week’s topics:

  • Are Jack Bogle and Vanguard actually underrated?
  • Why closet indexing will never die.
  • Why money is flowing out of growth funds even though they’ve outperformed. ...


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Insider Scoop

Benzinga's Daily Biotech Pulse: Insmed Presents Data, Pfenex Pulls Back On Offering, Oncolytics Listing

Courtesy of Benzinga.

Related IBB Benzinga's Daily Biotech Pulse: Melinta, Ardelyx Pull Back On Offerings, Insys Awaits FDA Verdict ...

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Chart School

Wide Market Cycle Review

Courtesy of Read the Ticker.

Lets review some big market cycles, to see where cycle pressure is building or peaking.

Cycles are like long term trend lines and are great for the long term view, of course price action leads (Wyckoff Logic) before cycles.

Lets go ...

US 10 yr: Trending higher to 4% ... Ouch. Inflation moving from Wall Street to Main Street.

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The EURO looks to bottom (USD topping).

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SSEC looks forward to another pump up to save the SP...

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Biotech

Could this be the year for a Canadian Breakthrough Prize in Life Sciences?

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

 

Could this be the year for a Canadian Breakthrough Prize in Life Sciences?

Courtesy of John Bergeron, McGill University

In 2013, Kyoto University’s Shinya Yamanaka was awarded one of the first Breakthrough Prizes in Life Sciences for his discovery of “induced” stem cells that enabled researchers to convert adult cells back into stem cells.

The Breakthrough Prize is not to be sneezed at. Founded in 2013, the prize “honours transformative advances toward understanding living systems and extending human life.” It’s also the most financially attractive aw...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 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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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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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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About Ilene:

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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