On Your World, Hoenig again advocated military action to help the stock market -- this time against North Korea
SUMMARY: On Your World, Jonathan Hoenig, managing member of Capitalistpig Asset Management LLC, said the United States "should take preventative action" against North Korea to "take out their capacity to threaten us" and prevent North Korea from becoming "a real threat and a catalyst for a major sell-off on Wall Street."
During the June 19 edition of Fox News' Your World with Neil Cavuto, Jonathan Hoenig, managing member of Capitalistpig Asset Management LLC, suggested that the United States should attack North Korea in order to prevent "a major sell-off on Wall Street." Hoenig asserted: "We should take preventative action here and take out their capacity to threaten us. I think that's when you are going to see this market take the North Korean threat off the table. Right now, I'm scared that this could become a real threat and a catalyst for a major sell-off on Wall Street."
Hoenig made his comments during a discussion led by host Neil Cavuto, who, commenting on recent reports that North Korea is ready to test a long-range missile, asserted: "Well, a North Korean missile that could reach the United States -- think about that." He then asked: "Now, if that turns out in fact to be a fact, will it bomb America's stock market?"
As Media Matters for America has noted, Hoenig, a frequent guest on Your World, has said that bombing Iran would raise the Dow Jones industrial average and that the U.S. economy would be unable to "thrive" in the event that convicted September 11 conspirator Zacarias Moussaoui is not summarily executed.
From the June 19 edition of Fox News' Your World with Neil Cavuto:
CAVUTO: Well, a North Korean missile that could reach the United States -- think about that. Now, if that turns out in fact to be a fact, will it bomb America's stock market?
[...]
TERRY KEENAN (Fox News anchor): The Koreans shot that missile over Japan in '98; we just appeased the Koreans. We didn't do anything. This president is not going to allow that to happen. He also can't allow it to happen given what's going on with Iran, which is a very similar situation, you know, just a few years behind the North Korean situation. But, I think the real axis of evil for the stock market right now is [Federal Reserve Board chairman Ben S.] Bernanke, the housing market, and the hedge funds that have, I think, been rocking this market a lot in the last couple of weeks.
CAVUTO: Jonathan?
HOENIG: Well, I disagree with Terry that it's the hedge funds. Terry, I think, to be honest, North Korea is having a much bigger effect in terms of lowering the stock market right now. Of course, I run a hedge fund, but the truth is, to your point, we've been appeasing the North Koreans since the 1980s. I mean, they -- they -- they threaten us and we give them billions of dollars in food aid, and what worries me is that we're going to -- you know, to be honest, sanctions is not -- are not going to be enough. We should take preventative action here and take out their capacity to threaten us. I think that's when you are going to see this market take the North Korean threat off the table. Right now, I'm scared that this could become a real threat and a catalyst for a major sell-off on Wall Street.
to put on a kevlar helmet and let me take a picture of him on a tank................. do these clowns have any idea how close to an all out war state we are in ?
HOENIG: ...I think ...North Korea is having a much bigger effect in terms of lowering the stock market right now. ...they threaten us ...We should take preventative action here and take out their capacity to threaten us. I think that's when you are going to see this market take the North Korean threat off the table. Right now, I'm scared that this could become a real threat and a catalyst for a major sell-off on Wall Street.
It's a funny statement.
Not because it advocates "preventive action", which I take to mean some kind of bombing or invasion; no, that's the unfunny part; the funny part of the statement is that it's coming from some kind of stock-broker I guess...
That's what's funny.
It's not enough for the American People to take the advice of Business Agents for the Arms Industry (Bush and Cheney) on matters of bombing and invasions (which itself has long been very unfunny, to say the least)...
...now we should be taking the advice of stock-brokers too; that's what's funny.
ME to MY BROKER: "Hal, you got a minute? I got a few orders for you."
BROKER: "Let me have it buddy..."
ME: "I want you to dump that dog Microsoft, all of it; I just heard that the Geek King is burned-out, and he's bailing out; dump that dog for me, would you."
BROKER: "Got it; and by the way, you're dead-on right to do so; you're always way ahead on the curve buddy."
ME: "You can kiss it later Hal, right now I'm short on time. I want you to buy up all the Defense and Arms issues you can, with whatever you gain from the sale of that dog; all of it, across the board whatever you can find; I trust your judgemnt on the matter. But if I get burned Hal, you'll be sorry you did it; you, but not your next-of-kin; they'll be happy as beneficiaries usually are. Read me Hal?"
BROKER: (gulp) "Got it. Anything else?"
ME: "Yeah. I want you bomb the daylights outta North Korea...
Not just Military targets either; hit at least one major city, and of course take out all the industry you can, with whatever fire you can muster.
Do it in the middle of the night though, when you bomb those factories; I've got a soft heart for factory workers, so we'll keep those casualties down... but if the unlucky slopes should live in that major city, well then too bad.
And stand-by the line later tonight please Hal; I'll have orders concerning Iran and Venezuela, and maybe even Cuba too; that guy, I've never forgiven him for eating my lunch, I think it's about time I ate his dinner.
That's all for now. You got all that Hal?"
BROKER: (gulp) "Like I said buddy, you're always way ahead on the curve. You're a winner extradordinaire; the market will fly, and you're in the cockpit; from now on, it's nothing but champaigne wishes and caviar dreams for you...
ME: "Kiss it later, just get to work for now."
BROKER: (gulp)
It's a symptom of the pundit culture, where any jerk with an opinion gets to spout it on TV, and the loudest one wins. And if you've written a book or come from a right-wing think tank, my god, you must be an expert.
Scientists are far-left loonies. Unless they happen to agree with you.
Obviously this is a perfect example why you can’t only look at an issue from one perspective. This guy seems to want to make life and death decisions by only considering the economic impact. Obviously bombing to take out the site is an option…a viable one actually…but it certainly shouldn’t be made because of its effect on the market. I think their ability to launch has more dire consequences then a dip in the stocks. Only a fool or someone who has not been paying attention would think that invasion is a viable possibility. But I guess if this guy thinks it will improve his stock options he is all for it no matter the consequences. I think he is indicative of the lack of forethought that goes into decision making by this administration. They don’t seem to look at it from all sides. We as a nation are now paying for their lack of circumspection and will be for a long time to come..
What's another $300 billion and a few thousand more soldier's lives? At least Wall Street fat cats will be happy. After all, it's not their kids on the battlefield.
I heard on the news, today, that if N Korea does launch a missile (during testing) we will just (attempt to) shoot it down with our defense system missiles. I think this would be a great test of "our" system more than it is for "theirs". Time to show the world that we can build a defense system that doesn't require that we send thousands of troops every time someone threatens the world with obliteration. Perhaps the nation will have more support of a missile system than it has for ground troops in battle. It's a sad state of affairs when a terrorist group attacks us then when we fight them back the troops are called murderers and war criminals. I'm sure all the troops are saying; "thanks for the support, America. Have you had any attacks since we started fighting these evil terrorists? You're welcome for us protecting your nation!"
Is all that it would take to understand the dilemma that is The Korean situation. There are enough conventional aimed at Seoul to destroy the capitol of South Korea many times over. The population of Seoul is over 10,000,000.
It would be worth our while to try to understand the ramifications of our shooting down a North Korean Missile. I'm sure that with our missile superiority we would have no problem destroying North Korea (population, close to 23,000,000). how much of either Korea would be left. I'm sure you would not miss the loss of so many human being just to prove our resolve in this matter, but the world and history would never forgive us. If we were to enter into a war with North Korea, your hero George W. Bush and his counterpart, KIM Jong Il, might be the one to replace Adolph Hitler in our grandchildren's history books as the biggest mass murderers in history.
I know some of you probably think I am always confused but hopefully this time it is easily fixed. I don’t understand your response here. I thought if we shoot down their missile it would simply do just that shoot down their missile. How is our shooting down the missile going to cause the annihilation of North Korea? If we shoot it down doesn’t it destroy the missile in the air? Sorry if this sounds like a silly question but I am not sure I understand exactly how these things work. I would appreciate any clarification anyone can give me.
Hi Lost
There are no silly question. If we were to shoot down a North Korean missile, they would consider it an act of aggression. Our shooting their missile could cause them to respond by firing their conventional weapons which are trained on Seoul (about 50 miles from the border between North & South Korea). If they were to launch their missiles, nothing could stop them. KIM Jong Il has stated that any act of aggression would cause the North to turn Seoul into "a sea of fire".
If that were to happen, we would respond in kind. We would destroy all the areas we've been targeting for the last 50+ years.
This is just a possibility, it doesn't mean that it will happen. The border between North & South Korea has been a flash point since hostilities ended on July 27, 1953.
What would YOU recommend we do? Sit back and let another country gain the capabilities of destroying our cities and holding S. Korea "hostage" with the threat of annihilation over the next 50 years? What's the difference if he threatens them now or threatens them for the next 50 years? Of course, we can always let them test the missile, let them threaten to use it whenever they please and then blame the current republican president for not "doing anything" to stop the threat.
Would be to risk another Korean War? The only way for us to defeat North Korea is by destroying North Korea. And, since the North is just testing a long range missile now, and has not deployed a long range missile, they'll use what they have, which is thousands of short range missiles which will all fall on Seoul.
We are now fighting two wars. We are threatening two more (Iran & North Korea). At what point do we realize that we don't have the means to support 4 wars?
Like many supporters of this administration, your first response is always more war. Whose kids are going to be fighting all of your wars?
And like many detractors of this administration when asked for a plan... offer none. Evil should be destroyed, not appeased. I guess we should open all the prisons too? Why keep evil people behind bars, just let them run their lives any way they want. Just as long as none of "our kids" have to be the ones to keep the peace in the world.
people like Hoenig who support Bush brought on the proliferation of nuclear weapons this century. Grouping Iran and North Korea together in an axis of evil and allowing a blowhard like John Bolton when he was at the State Department to make outright threats to North Korea certainly pushed that nation to expedite its weapons program. From my perspective, North Korea is developing nuclear missiles to give it some leverage when the U.S. threatens it and engages in diplomatic talks. Kim Jong-Il is a bad man, but not a crazy one. The first objective of a tyrant, Bush included, is to stay in power, and they will do nothing that will jeopardize their control and authority. Unlike Al-Qaeda, North Korea is a nation with finite borders and an organized military structure that can be eliminated if it ever attacks the United States. But there is no need to worry about North Korea ever launching a missile at the U.S., because it would be blown off the face of the Earth in retaliation.
the last time Hoenig was featured here . . . but . . . Is it just me, or does Hoenig bear a striking resemblance to Alfred E. Neuman? He looks like one of those people who regularly got beat up as a kid and always said, "My big brother will beat you up!"
Seriously, I don't know which is more frightening: that this whack job honestly believes the US should bomb nations in order to improve his stock portfolio . . . or that Bush seeks and takes advice from others who advocate this same thing . . .
No. Alfred E. Newman's visage had a certain benign insipidness to it.
No, Hoenig has a rabid, yappy little dog quality. He manages to be stunningly stupid & smirkingly obnoxious at the same time.
In other words, he could very well be President of the United States some day, the demented chickenhawk.
Last month this little weasel wanted to nuke Iran. This month it's North Korea. I doubt we could do both. Is he aware that we've already been to war with the North Koreans? Didn't turn out the way we would have liked it either.
He has to ask himself how the economy would fare when North Korea turns Seoul, South Korea into a sea of fire. That's their first priority if we show any aggression towards them. Our military planners believe they have the capability to do that and more.
Their God is the market, a fickle, capricious and vengeful God who demands complete servitude. Capital gains tax, defense cuts, social programs, government regulation all bring upon the rich a terrible and swift punishment from on high. The rich cannot stand by and wait for the ultimate judgment, which may come in the form of a sell-off on Wall Street. And to serve their God best, the high priests offer up bloody sacrifices to appease the mighty one and stave off his wrath for another fiscal year and election cycle. This is the Church of Capitalism.
This message brought to you by the Church of Liberalism.
...that this guy is so blindly trigger-happy, or that he actually thinks military action will help the markets. Any hint of conflict with Iran sends oil up and markets in retreat Any major attack on North Korea and they'd literally destroy Seoul with artillery in a few hours. The destruction of the capital city of an Asian tiger is apparently great news.
I feel bad for whoever's assets he's managing. Might as well let my cat do it, he can at least open a newspaper.
Right now he's my leading choice for "Arm Chair Tough Guy Of The Year"!
The Awards (a statue of an Ostrich) will be handed out on Groundhog Day, 2007. Other nominees: Sean Hannity, Bill O'Reilly, Ann Coulter, Dick Cheney, George W. Bush, Michelle Malkin or anybody who suggests America should bomb its enemies "back to the Stone Age", but who get the runs when a neighbor sets off a firecracker!