Gibbs: You Listening To Yourself, Jackass?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-01-28 15:48
by Karl Denninger
in Editorial
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Gibbs: You Listening To Yourself, Jackass?
 

Gibbs: All governments around the world have to be responsive to the people they serve.

Uh huh.

Like the statement Barack made that he didn't come to Washington to serve the banks?

Like TARP, passed over 100:1 objections of The American People?

Like Obamacare, passed over monstrous objections of The American People?

Like running $1.7 trillion in deficits last year, and over $4.5 trillion in the last three years, with no plan to solve the problem or even slow it down?  Remember, the CBO just updated their projections, after your boss added $500 billion more to the deficit for this year.

Like false claims - lies - on virtually every single political claim made during his campaign?

Like refusal to insist on prosecution of those who filed false affidavits - 150,000 cases of perjury?

Like refusal to insist on indicting Bernanke for perjury before Congress, when he said he wouldn't monetize the debt?

Like refusal to insist on indicting the banksters that caused this collapse in the first place, even though we have sworn testimony of intentional deception, such as the Citibank bad loans that were made and sold off?

Like refusal to deal with the fact that if we cut to zero every Federal Program other than Medicare, Social Security, Medicaid, Unemployment and Welfare, we would still be running a deficit after you paid the interest on the debt?  That is, you can't even balance the budget today if you not only cut the Pentagon to zero but you also cut everything else to zero, including the budget for the guy who sweeps your carpet in the Oval Orifice, and this is ENTIRELY your responsibility.

There's no inflation here, right?  That's why cotton is up 300% in the last two years, wheat has nearly doubled, oil is trading near $90, oats have more than doubled, soybeans have nearly doubled... all but cotton in the last year?

Responsive to the people Mr. Gibbs?  Really?

What happens when Egypt comes here Mr. Gibbs?  What happens when the budgetary reality becomes realized risk?  What happens when the market collapses because all of this speculation that you have not only encouraged but have driven through policy turns into a 90% stock market collapse and the literal cessation of trucks on the highway and food on the shelves?

Does it have to happen here, Mr. Gibbs, before the government becomes responsive to the people?

The people have spoken. 

Repeatedly. 

You and President Obama have refused to listen and to act in accordance with those wishes. 

Your boss, Mr. Obama, continues to insist that he knows much better than people do, as do you.

Remember Mr. Gibbs: responsive to the people.

That's your standard.

What are you going to do if the Suez canal is closed over the weekend and oil gaps up to $100, $125, $150 or more?

Your Boss, Mr. Gibbs, and our President, is directly responsible for the food and energy inflation that the world has had to absorb.  We have intentionally abused our status as having the world's reserve currency and have debased that currency by monetizing debt - an act that Ben Bernanke said he would not do, under oath, before Congress.

YOUR BOSS reappointed him to his office.

This was 20 years coming, but you could have stopped it in 2009.  You could have taken every one of these institutions into receivership and closed them.  You still can.

Instead, you have been and still are performing fellatio on those very same bankers. 

Daily.

President Obama is directly responsible for what is happening today.  He has literally caused people to starve, and now to die.

Let me repeat that: President Obama is directly responsible for what is happening Mr. Gibbs.

He will be held politically responsible, and so will everyone on The Hill who has refused and continues to refuse to act on these issues.

You're overdue on being responsive to the people Mr. Gibbs, and so is Mr. Obama.

Discussion below (registration required to post)
 

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User Info Gibbs: You Listening To Yourself, Jackass? in forum [Market-Ticker]
Idoc
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sb
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i'd say thats a direct hit.
Quillbill
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Amen....

That was as powerful as it can get.

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It is a new day....DO SOMETHING WITH IT!
Howardnyc
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Gold
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i thought gibbs was refreshingly honest and clear.

Gibbs: All governments around the world have to be responsive to the people they serve

that ain't you and me.

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kd told me (and i believe him) that
"We (Americans) deserve a Depression."
Papaneuf
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Upstate
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Ouch Gen! You are getting too close to the heart. I hope they don't pull the switch on you! But I disagree on a few things. Don't blame Obama. He's just the POTUS. He doesn't make nor affect policy. The POTUS really hasn't for a long time. He was just one of the horses in the stable that was brought out to run the race. He had a sweet line too!

The Exec branch is running a little ragged right now, but bringing in some of the boys to the White House should shorten the head scratching and response time a little. If Mubarak's down a quick policy change and search for a new horse should suffice. The only real problems are those numbers you keep talking about.....
Throxxofvron
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Should unfettered access to Telecommunications and the Internet be a Right Mr. Gibbs?

-Then why would the Obama Administration be considering implementation of an Internet 'Kill Switch'?

Should the Police exercise restraint Mr. Gibbs?

-Then why would the Federal Government of the United States be funding the Militarization of the Domestic Police?
Why do 'restrained' Police need paramilitary armor and weapons, flash grenades, tear gas canisters, water cannons, etc.?

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DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell

Quillbill
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It will not be much of a laughing matter when the fingers start pointing at this country as the reason for this unrest. That will turn people who now feel like victims into the enemy. I am talking about the American people who feel over ran by their leaders. They will be broad brushed along with the government. Reckless policy, arrogant attitude, weak leaders. This will cause once prominant allies to distance themselves from the US. This could get out of control globally in a single weekend.

This could cause China to stop purchasing debt in an attempt to not be a part of the problem. This could isolate our country and implode us in a nano second.

This could get the population to turn off American Idol.....but we would be held to blame anyways because WE DID NOTHING ABOUT IT.

Game over

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It is a new day....DO SOMETHING WITH IT!
Goforbroke
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Commentator on Al Jazeera ... "Why hasn't President Obama called to support the Egyptian government? You would have thought he would have done that by now."

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We have met the enemy and it is us. -- Pogo
Stcm
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I think if they attempt to close the Suez canal, an "emergency international task force" will reopen it pretty quickly. I'm not sure why the protestors would want to close it anyway - besides oil, a lot of consumer goods come in from China that way don't they?

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Peterm99
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Howardnyc wrote..
Gibbs: All governments around the world have to be responsive to the people they serve

that ain't you and me.
Howard nailed it.

Genesis - Well-written ticker, but you must have missed the bolded/underlined part of what Gibbs said.

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Oldno7
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Gen

You might have told us before but to whom do you send copies of your tickers? This one is simple and they don't have to guess what the point is but we all know they hate the truth.

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IT'S THE SPENDING STUPID The US must become less a government of men, and more a government of LAW.
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Kylafoon
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Top down, bottom up, inside out.

Don't let a crisis go to waste.

Wonder what Beck will have to say tonight?

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"...But whenever we see things done wildly, but taken tamely, then the State is growing insane..." - Gilbert Keith Chesterton 1910

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
Lordhumongous
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Mr Fibbs wrote..
Gibbs: All governments around the world have to be responsive to the Free **** Army they serve.


fixed it for him
Tumblebug
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Gibbs, looked like he had seen a ghost, and babbled with no clear message. People are scared.

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Throxxofvron
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People in the Obama Administration are scared.

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DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell
Tumblebug
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Al Jazeera reporting that wealthy "buisness men" have left on a private plane.

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Eaglewwit
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Gen, your continued optimism for the sheeple of American is commendable. However do you really expect the average J6P to be able to connect the dots from reserve currency monetization to inflation in Egypt to civil unrest. I don't. Most don't even know what monetization is let alone the Federal Reserve.
Greggcwa
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Bravo !!
Scoey
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Gibbs? Gibbs?...THEY CALL ME MR. GIBBS !!!

smileysmiley
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Ostriches
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Closure of the Suez Canal plays right into their hands - Middle East war which then requires that the plebes in the West use higher cost green tech and electric cars. Then, when the dust settles and the plebes in the Middle East are sent back to the Stone Age, they then build their pipeline directly from the Middle East to the billions of people in India and China (who will still need such types of energy). And the banks in the West will make a killing lending all the money to make it happen.

After that, the only thing left is to figure out how to destroy the productive capacity of Asia - and, there is always that "wild card" North Korea...

Yeah, it's kooky, but I am sure one or more of them have dreamt it up...

Edited - I do recognize the incongruity of sending the plebes in the Middle East back to the Stone Age...

Bobby
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vermont
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There are not enough bad words to explain today.

We are getting a peek, into a world looking to fill the power vacuum.

They are going to be talking about this week, 500 years from now.
And I am pretty sure, they will not be talking about it in English.

bob


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Blurtman
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President Sarkozy to unindicted felon Jamie Diamond:

“The world has paid with tens of millions of unemployed, who were in no way to blame and who paid for everything. It caused a lot of anger. Too much is too much. The world was stupefied to see one of five biggest U.S. banks collapse like a house of cards. We saw that for the last 10 years, major institutions in which we thought we could trust had done things which had nothing to do with simple common sense. That’s what happened… There is an ocean between flexibility and the scandal we saw. So if people present me as obsessed with regulation, it’s because there is a need for regulation. I don’t contest the principle of securitisation, but when one offshore country guaranteed 700 times its GDP, are we in the market economy or in a madhouse? Bonuses don’t bother me, provided there are also … draw-downs when there are losses. When things don’t work, you can never find anyone responsible. Those who got bumper bonuses for seven years should have made losses in 2008 when things collapsed.”

President Obama's response:


Inline

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Bill1102inf
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"They are going to be talking about this week, 500 years from now.
And I am pretty sure, they will not be talking about it in English"

Highly doubtful.
Anti
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Gibbs calling for the internet to be turned back on reassured me for a moment that it might not be turned off here. Then I remembered how they lectured Japan for unresolved zombie banks and QE. When the chips are down, they will do it too.


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Cmalbatros
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And Hitler says - http://www.youtube.com/watch?feature=pla.... Warning! references to possible "Tin Foil" Conspiracies, but some good stuff in between.

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The only regulation that works - is failure.
Remember, the value/price of stocks and shares fall as well as plummet.
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