Thursday, May 21, 2009

Whats gotten into Macke?

From the video description: "Financial Talking Heads Explode, Jeff Macke rants on CNBC.

Watch this meltdown as it happened live on tv, I think most of the people watching CNBC were probably confused as hell......

I was at first, but I caught on quick, the bottom line is everything you see happening around you is an illusion, kind of like everything you learned in value except in this crooked system which is now breaking down. "

I think that's probably not too far from the truth. Whatever the case, something has gotten under Macke's skin and he's a pretty sharp and solid guy. He would be the last guy I'd expect to lose his cool on cnbc like that. Prepare for things to get crazy again.


Anonymous said...

All I could think about was when would that annoying gold blob streak across the screen again.

pythagoruz said...

Yeah, that gold blob is f-ing annoying. CNBC is so flashy and entertaining now that the content is secondary to the experience!

I've watched this a couple times and I don't think Macke was on coke or some other drug as some have suggested on the net. It seems to me that Jeff Macke knows what these guys (the other two guests) are about to say, maybe from some script they go by, and he realizes they are lunatics. He also seems to be questioning whether Dennis is playing along or if Dennis realizes this too.

The first dude says something like, "The stress tests were an absolute homerun." So Geithner really knocked it out of the park, what? Then he says something along the lines of "I think houses, stocks, banks, cars, unemployment, everything, has all bottomed. GDP is gonna be positive in the 3Q." Positive GDP in the 3Q? The 3Q starts in 10 days, try reading

and convince yourself that we will grow in the next three months. The next guy just agrees with the first guy straight up and adds that stocks are "consolidating" (before the next big move up). How can you respond to that totally incompetent going-along-with-the-charade behavior on national tv?

And maybe Macke was having a rough day, happens to us all.. These are trying times.

Anonymous said...

I didnt get what Macke was talking about, what car people

pythagoruz said...

I think he's referring to the management in the car industry. I thought he was dismissing "car people" as fools that should have been "out of the game" along time ago like he dismissed Bank of America's management eight months ago, yet they are also still "in the game." Its madness that we are propping up failed business models and bailing out failures to fail again. My take.

I also think this clip is taken out of context somewhat. Maybe in the prior segment that had been talking about the imminent GM bankruptcy.