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Appaloosa Management founder David Tepper on CNBC

Tepper was the person that said if the economy improved, then stocks would rise,  if the economy was not good, then Bernanke would toss money at it, and stocks would rise.It became a win/win.  So this last run, has become  the Tepper Run.

This morning I was struck with a few of his comments he made on CNBC  and how they blend "well" with what is wrong with America today. Tepper is a philanthropist and supports the Food Banks in America. He commented on  "seeing employment being high for years to come". Basically it was a " It is what it is"!

This is exactly what is wrong with America, and Tepper appears to be among the "counted deniers" now.

Tepper makes his money by betting on the market. He has made tonnes of money betting on companies that appear to be down and out. These companies, fire Americans, to preserve "Earnings Per Share", (the holy grail of the USA) They shed employees, like they were scrap, to keep their bonuses and Earnings up. Once American companies found that the recession was a perfect opportunity to streamline, they fired by the thousands.  All in the name of "Earnings Per Share".
Poor old Joe never knew what hit him, unions were tossed, jobs were lost, factories closed. What Joe didn't know, was the same Blue Chip Companies were creating jobs overseas, hiring Chinese, Indian, Brazilians and creating his job, in those countries. After all, its imperative that "the company remain Number 1" at all costs, right? If it means filling Tepper's  Food banks, well thats just a consequence of good business, right?

So Tepper and many like him, demand companies clean up their balance sheets, lean down to meet  Earnings Per Share as a major shareholder. Many go so far as to replace board members if they do not produce profits at ALL COSTS.
The company who wants to keep the capital markets investments, and their own bonuses responds to the demands of these funds, They fire Joe, no matter if he has a family of four, and a house that was just foreclosed, its "Business"!!  Tepper then donates a very small portion of his profits to the Food bank. Which I think is nice, and more should do it, but is this humanitarian, or to clear his conscience?

Why pick on Tepper. he is doing good?
Is he? Really? Or is he supporting the rich in their process of "firing people to keep Earnings Per Share high", so he, and many others, can live the life of the Rich and Famous? Is he an example of what is right and wrong with the investment industry today? You be the judge!
What if Tepper started boycotting every company that fired US Citizens, to either setup shop in China or India?  What if Tepper got on CNBC and said that he would support any US company that was hiring US citizens, and would not support companies that continued to export jobs? What if he convinced his fellow fund managers to do the same? Less Food Bank people, its a win win right?  Well Tepper would not be making the millions as fast as he is now, so don't hold your breath!!

Whats wrong with America?
Wal-Mart is a massive machine Wall Street loved them. Next time you are in Wal-Mart turn over 10 items, and look where they are made. If 9 are not made in China then you got lucky.

The dumbest and smartest people on the planet are Americans. The smart ones are making the rest of you look "dumb and dumber".

We now watch the installation of the Highest Oligarch, Jeff Immelt. Obama swung a deal for the (Fed Govenor, GE CEO) to sell GE technology on Jet Engines to China that a mere 5 years ago. would likely have been Treason.

Immelt led the charge to reduce jobs in the US and create thousands overseas. What do they do? Appoint him head of creating jobs in the US :) You gotta love the irony here.

There is not one, complete, Spinal Column in Washington, Congress or the Senate. The voters don't realize  the Governments don't care that the "USA"  is now being "Made in China".

99% of Americans do not understand the term, "Earnings Per share" or how it affects their standard of living. Its really  time they did!! 

Every Bank that crippled the US, is now either flush with money, or out of a bad hole, are you? The US Gov heralds the TARP loan pay backs as if this cost the American People nothing. Did you know that Goldman Sachs paid back their $10billion debt with crap mortgages, that are now held by your gov, and you as a taxpayer, are liable for the shortfall? Did you know that your money went to AIG and AIG then handed a fat cheque to the same banks that crippled the country?

Did you know, or realize, that since this fiasco began, the $4trillion of accumulated Federal debt, and the Trillions in State debt, was spent on saving the very people that lost you, your present standard of living? Now YOU have to pay it back?
Did you know the " USTreasury Toxic Debt Fund is reporting an increase of 27% this year from the bottom? Did you know that is an increase from the assessed value they put on the fund which was about 50% of what they paid for it? So they are along long way from breaking even. Why? They paid a bundle to banks for assets that were marked up improperly. So once again you are on the hook.

Did you know that the DOW 30 makes 80% of their money  overseas with oversea workers building American products?  I await the day, the  first "Catepillar tractor "Made in China"  hits the US shores. America has become an assembly plant, for everyone elses products. 90% of the parts for most of your exports are made overseas and you wonder why your plants are closing? When that Catepillar Tractor arrives from China, that will be the day the cycle is complete.
Tepper can have another 200% increase in Food Bank recipients, but I am sure his Fund will be up enormously, so he can easily, pick up the spread. The guy seems to have a heart, but man is it ever displaced!

Sad, very very sad.

As we approach a small appreciation of the Yuan, this will be like de-valuing the US$ The Oligarchs on the DOW will explode in earnings. So be long the DOW exporters. If you are wiped out, or are broke, and cannot take advanatage of this run in the DOW over the next 9 months, well, you are just a causalty of Wall Street. "It is what it is".

We have one rough patch ahead of us in June, 3 year municipal bonds rollover and numerous cities and counties do not have the money to Pay. So June/July will be a tough month. From July 5th to September will be one of the biggest bull runs you have ever seen. The DOW can hit 14444 with ease as Greece seeks to remove itself from the Euro and Ireland watches the result.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.