Jun
4
Quote of the Day, from Victor Niederhoffer
June 4, 2012 |
Quote of the day.
"The weak job report confirms that the US is vulnerable to a European situation that is going from bad to worse" said Mohamed El-Erian, CEO of Pacific Investment. Query. How did they let him out of Harvard with all these self serving, self interested ideas and talking of book.
Gary Rogan writes:
It's an interesting statement in that it's mostly true, or could be, but it distorts the cause and effect and shifts the blame. The weak job report confirms that erratic, Marxist/radical and pro-flexionic policies destroy economies, but as a side effect they do also make economies more vulnerable to external shocks. As to whether it's more important that the US is vulnerable to the European slowdown or the European economies are vulnerable to the insatiable appetite of the US for consuming all available lending capacity in the world (while of course killing themselves at the same time), that's an open question.
Vince Fulco writes:
Perhaps while job tsar, Immelt, found boll weevils in the domestic silos.
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Much powerful speak from those poohbahs so knowing. Truth be told it is not America, nor the EU to blame for the current malaise, soon enough to be a full blown collapse. The problem is the “system”. Simply stated, the individual now glossing himself as a master capitalist bares faint similarity to those who strove for the better mouse trap. Mark Zuckerman comes to mind. The creepy cyber stalker wiz kid is our sorry excuse for a Carnigie or an Edison. The kid has made a ton of money, yes, but for what? What exactly has this guy created relative to a U S Steel or General Electric.
Lloyd Blankfien ring a similar note. Having instituted the millisecond P&L watchdog, he has devolved a storied engine of capitalism into a backroom craps parlor. No JP Morgan, this one is slick, more the ‘fast Eddy’.
The quick buck, the flash trade, the Madoff play, these are the new paradigm and they are anathema to what once inspired the American dream.