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"Central banks of the world are trying to penalize you for being in cash," says a bullish Lloyd...

"Central banks of the world are trying to penalize you for being in cash," says a bullish Lloyd Blankfein. "I'm more shareholder than employee," he says, responding to a question over whether he would leave GS if he were paid less.
Comments (6)
  • Michael Clark
    , contributor
    Comments (8680) | Send Message
     
    Is that the jobs of Central Banks? To penalize those people sitting in cash? Is this in the Fed's charter, that the Fed 'fix' a market to exclude those trying to be savers instead of specualtors?

     

    A class-action suit against the Fed in tilting the markets against savers is approapriate now.
    25 Jan 2013, 08:39 AM Reply Like
  • Ted Bear
    , contributor
    Comments (597) | Send Message
     
    We move from bubble to bubble: Technology; stock market; housing; debt and stock market. As long as The Fed can keep one of them inflated, the crash in the others is overlooked. For now, we can keep the debt and stock market bubbles intact if we can draw some of that massive cash hoard off of the sidelines. The question becomes, who is more clever: the savers or the architects of the bubble?

     

    Aside from the spoken topic, is Lloyd Blankfein the most powerful man in the world?

     

    Does Turbo Timmy go to work at Goldman Sachs?

     

    Curious on people's thoughts on the latter two.
    25 Jan 2013, 08:44 AM Reply Like
  • Michael Clark
    , contributor
    Comments (8680) | Send Message
     
    "Cleverness' tends to be a temporary virtue. Savers drive the first stage of EVERY business cycle growth season. The fact that Ben is still pandering to the specualtors in hopes of keeping the old world expansion alive (1983-2001) tells us his cleverness is vastly overrated -- although he still does have more power than the savers do. Ben decides who gets Americans' money: and he's chosen to give it to the Old World rich instead of America's savers.

     

    America, today, is a nation of credit (creditors and debtors). But this is also a periodical phenomenon. When we get to the other side of this disaster (and we are not anywhere close to it at this point) America and America's politicians will be praising savings and America's savers again. We are corrupt and in decay now. We think fast money is the only kind of money. That means we are the decaying fruit ready to fall out of the tree.
    25 Jan 2013, 03:41 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    No Timmy canĀ“t go there ...to obvious...but he will "consult" for them somehow....

     

    And yes savers is a bad word now....funny....I was told all my life to save from my depression era parents....never to take out a loan....funny and sad...we are a nation of credit....where some have to pay it back....others do not have to....and they win in the end...the people that follow the "rules" lose....
    25 Jan 2013, 08:49 AM Reply Like
  • mike mohr
    , contributor
    Comments (451) | Send Message
     
    When he is bullish means sell. Lloyd is bullish because he just bought a $30 mil house in Hampton.
    25 Jan 2013, 08:50 AM Reply Like
  • vallies
    , contributor
    Comments (351) | Send Message
     
    If you don't like GS than take a look at BLK, Larry Fink is the best in the business. If you don't like BLK than take a look at C, Jim Chanos owns it, and David Tepper had very bullish things to say about it. Also Micael Corbat has his hands in Asia nicely. BAC trades below book as C does. KEY also trades below book. HBAN just had a nice CL for 34.8 million. HBAN had a 18% y/y net record income. It gives you a 2.5% yield, that's a lot better than the 10yr. HBAN just had two good buy backs at the 6.36 and the 6.34 level. I do own a posistion in HBAN.
    25 Jan 2013, 09:37 AM Reply Like
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