This Man Will Never Be Invited Back On CNBC

zero hedge ^ | 2/10/15 | tyler durden

[Nachum]

While Steve had a number of hard to hear quotes for the CNBC anchors - such as:

"There is no acceleration in underlying economic activity," and

"There's this wrong concept that I keep on hearing about in the financial press about the acceleration in economic growth... It's not happening!"

A stunned Simon Hobbs rebuffs, "That's a long list of non-ideal situations we find ourselves in," to which Ricchiuto snaps back "and we can keep on going!"

"After a string of dismal data on durable goods, retail spending, and inventories, we get a good jobs number and everyone saying the economy's good - it's not good!"

It was Sara Eisen that had the quote of the brief clip... (which has unbelievably been edited out since we posted it seems at around the 1:40 mark) when faced Steve's barrage of facts about the real economy, replied:

"but the key is that's not what The Fed is telling us."

Summing up the unbelievable 'faith' (misplaced beyond all reputational loss) that so many have in the central planners of the world.

[captmar-vell]

Its not a depression when your neighbor across the street is out of work and has dropped off the count of the unemployed after 60 days, or when your neighbor next door is being layed off after 20 years,

Most wont wake up until their 90 inch television is being repossessed just before the big game,

They want to be deceived and believe the lie, just keep the EBT cards and free cell phones coming, its all good,

[Road Warrior ‘04]

(which has unbelievably been edited out since we posted it seems at around the 1:40 mark)

This can't be true! Oh, wait a minute. There are three letters in the network that would tend to assure that the statement is true: NBC!

[SkyPilot]

The Fed policy has been nothing short of insanity, but they have no other choice. Here is the score: they can't raise interest rates because the government has so much debt ($18 Trillion) that any rate increase would make the debt payments so egregious the whole shebang would collapse. Entitlement spending plus welfare spending is now 2/3rds of the budget and that is going to explode to about 80% in the next few years. The real unemployment number is around 22%. The Stock Market has benefited greatly from such low interest rates because no one wants to save or invest in bonds with rates so low, so they gamble on the market. But that bubble is bound to blow. Where are we headed? Probably a world wide economic collapse of Biblical proportions, that will lead to a reset with a single global currency and global control of all economic activity.