This page has been archived and commenting is disabled.
Fed's Bullard Says QE2 Decision Not To Come Until After Q3 GDP Announcement, Which "May Be Stronger Than Q2 GDP"
In addition to clarifying that the Fed's QE2 approach would likely be one starting in $100 MM increments, which has already been known, the question is where does it end, he makes the important observation that the decision on QE2 will not be made until the actual November 2 FOMC meeting, and certainly not before the Q3 GDP data is released on October 29, and makes the further comment (wink wink) that Q3 GDP may be a little stronger than Q2 GDP (uh oh). Oddly enough the Q3 GDP Of course, the chairman already knows what the bankers want, which is why we suggest everyone continue to frontrun each and every POMO in the fashion already described. The Fed has become the most predictable joke in the history of frontrunning and is nothing more than a "sell the news" type of criminal cartel.
Other soundbites from Bullard.
- Fed would not specify ultimate size of further easing, would assess further easing meeting by meeting
- Says in sharp disagreement with "big bang" of purchases
- price level targeting would be too large of a step at this juncture, but could be future measure
- QE an effective approach, have already seen decline in longer-term yields [not to mention Ferraris are all sold out everywhere]
- bit of a tough call on need for further easing, but data shows economy weak, job creation not happening
- fact that data has not strengthened since summer will affect committee's thinking about size and scope of any QE
- Disinflation trend has flattened out a little bit over the last couple of months [Even as hyperinflation trend has accelerated]
- Will wait for Q3 GDP data before QE2 decision
»
- 9466 reads
- Printer-friendly version
- Send to friend
- advertisements -
wait, which revision of Q3 GDP will the decision be based on?
And if Q3 GDP is supposed to 'surprise' to the upside, why do we need QE2?
... and why did they step up repo activity to $1 billion, from literally nothing a week ago?
...and why did the chicken cross the road? this whole thing is nothing but a bad joke and when the punchline gets delivered markets are going to be very disapointed.
Translate:
Bullard: "Our LBMA plunge enabling team is begging us to talk down about QE2 as there's an inferno burning beneath their @$$."
and when GDP comes in under par...this is either the bluff of the century, or there is some serious heel-dragging occuring.
Q3 GDP stronger than Q2? Well at least I know where all the DEA seized drugs go.
Economists at the BLS:
http://www.youtube.com/watch?v=_L8DcjFOD1k&feature=related
and it's just as bad over at FED:
http://www.youtube.com/watch?v=HJUt_x0gwug
Since a picture is worth 1,000 words, I will spare the commentary:
http://dshort.com/charts/Consumer-Metrics-Growth-Index.html?Consumer-Met...
Peekaboo Bullard.
We see through you.
He's nuts too. Price level targeting is the half cousin to the idiotic and useless wage and price controls of the 70s. It didn't work bringing prices down and it ain't gonna work pumping it the other way. I'm sick of hearing about it from these tards.......they're just throwing up ideas, regardless of how stupid it looks through the prism of history. Rant.
And we know what you do!
So put your hands on your face, and cover up your eyes, don't look until I SIGNAL.
PEEK A BOO!!
ha ha ha ha.
-- Devo -- (Fed remix feat. DJ Heli-Ben-t)
I've been telling everyone I know that I think it'll be price level targeting. Oh well, wrong there. However the logic that led me to that conclusion is that there is no way the Fed would put a cap on their program, any QE2 will be in reality QE4EVA. Looks like that assesment is holding up per Bullard's statement.
The whole world's watching. http://www.telegraph.co.uk/finance/currency/8078182/G20-finance-ministers-plan-to-head-off-global-currency-war-amid-growing-trade-tensions.html
This is complete bullshit. They are laying grounwork. This is only an effort to have the markets react strongly to the surprise of QE2. Ben is conducting more psyops because the baked in rhetoric is increasing.
QE2 is is coming and we know it Ben because the markets cannot survive without it.
Another problem being the $XX trillion dollar debt/deficit that exists and needs to be funded.
Edit: Who here wants to bet that Bullass was a member of some "green" organisation?
'Markets cant survive without it'...'debts need to be funded so theyll keep Q/Eing to infinity'.... HELLO wake up people no ones buying the imaginary money to fund things! Watch as Q/E is the tipping point, when it DOESNT happen!
Catch everyone completely off guard with no one to dump to...PERFECT!
With you Sheepdog! As stupid as the Fed may be, they are still in power and politically savvy. Everyone is expecting the money to flow with an announcement on Nov. 2. It won't happen until it is politically expedient for the Fed to do so, i.e. after a massive market crash. The banks will come begging to Helicopter Ben for him to save their sorry asses.
Poor fool. Don't you understand Ben and the banks are one and the same?
Yes, I understand that. The only way the Fed can keep their power is to have a reason for their existence. In the grand scheme, it will appear as if the Fed came in to save the day to CONgress and unsuspecting public when really it was nothing more than a grand show to rob the masses.
S&P500-- TBTF
criminal fed; when does obama give his buy recco
Don't expect an answer until after election day.
Well, duh, the 3q GDP report is due Oct 29, next Fed meeting is Nov 3. So all that means is QE2 won't be announced between meetings, which exactly nobody expected anyway.
Oh, there is the selection election to worry about. Got to make sure the "other" party gets a chance to hold the hot potato.
Because they do QE to save the economy and not the banks? Right. The banks are hosed. QE will continue. It doesn't matter what the Fed says. They keep doing it because they have no choice.
They can still "yank your chain" if you let them. Are you going to sell your mining stocks when they TANK like they did in 2008-9?
I don't like mining stocks. I expect them to ultimately meltdown alongside gold's melt up. Some will make it. The rest are sitting on hedges that will kill them. And they keep adding to their hedges trying to trade their way out of it. Infact, it may be the death of these miners from their hedges that ultimately causes gold's melt up. I know they say they are not hedged. But they are liars.
What fucking BS from Bulltard!
Consumer Indexes has GDP contraction at -6.05percent as of today: http://www.consumerindexes.com/index.html, that's worse than at the height of the the 2008 contraction.
Gallup showed consumer spending was at a 3 year low last month.
Karl Denninger had these two excellent charts up, showing US energy consumption is falling of a cliff: http://market-ticker.org/akcs-www?post=169848
Lies, lies and more damned lies!
"Fed would not specify ultimate size of further easing, would assess further easing meeting by meeting"
Am I the only one to think that the FED may not have a single clue about what she's doing, and just thinks about postponing the inevitable?
G20 basically nixed the whole idea.
Or Timmy's lying through his teeth.
Your guess.
Its a bluff - he can't use the red button even if he wants to. To rub it in, China just gave Ben the a big 'ol fuck you too with the rare earth minerals annoucement. All Ben can do is threaten to huff and puff. Dow 5000 and Ben has a job, hyperinflation and he'll be safe no where from throngs of pitchforked pissed offedness.
YEP Im inclined to fully agree! Q/E of 7 Trillion as the IMF layed out may as well be a nuclear weapon set off in the financial world, its fooling NO ONE! I say the day after the election BS Ben will come out and say 'Upon further review, we see no need for Q/E at this time'.
$5 trillion already priced into that 1,300 point DOW run up since Ben started HYPING QE, and I dont see it happening.
what happens to pensions and the like then? How many angry people will there be? Understanding that most people only understand the basic 1 < 2 nominal stuff, not real terms...
ANTI-QE2 sentiment will soon be priced in. So when Ben says "No QE2" on Nov 3rd the market will RALLY HARD!
Too late for that.
Since noon markets have been pricing in the ANTI-ANTI-QE2. In other words the sentiment that we WILL have what we were NOT having while they were still PROMISING QE2.
You need to use 9-dimension math just to calculate the derivatives on all that. Let us all know how it works out.
OH ok I see...nevermind Q/E has already been priced in...no Q/E has also been priced in...OK LMFAO.
WHAT 'Q/E2 decision'? A $5 Trillion QE package has already been priced into markets 1,300 DOW points ago and leveraged into every bad news story over 2 months!
Between the lines of this story is a HUGE weasel-out, watch as Q/E2 doesnt happen at all, heh heh can you smell whats cookin!
no shit - and even with QEII illusions of grandeur it still takes POMO to make the dream a reality. Remember TD "steaming bucket of exploding feces" comment?
I do remember it, and also the articles saying that a delovery of QE would be the mother of all sell the news events. So whats everyone basking in QE day so much for?
The POMO (Permanent Overt Manipulation Operations) WAS the QE and the only QE that will be delivered!
Its time to dump the markets IMO.
Meanwhile, SPY will not be allowed to go down at any cost. Such a sham.
For now.
It won't be allowed to go down until all the criminal insiders have finished distributing all their shares to the suckers. This 1000+ point DOW rally has been a god-send for them.
But where are the suckers? None to be found...the suckers are all broke.
HFT's still are playing the game. Low volume smoke and mirrors, plus zero % money keeps it going. Some money is stuck in the game due to 401K, Iras, pensions, etc...
Insiders and retail investors have been heading to the exits.
In addition to clarifying that the Fed's QE2 approach would likely be one starting in $100 MM increments
million or billion?
I'm betting they announce the mother of all Stimulacra. The Admin wants to keep power. People like 'having money' (inflate) more than they like not having it. Inflating is the palatable choice, as to the masses. Long PMs.
If Ben was gonna do it he would've done it already. Why talk, threaten, and cajole the market participants? Cause Ben's so fucking out of touch he doesn't realize johnny retail left the building and the HFT's don't speak Fed. Foreign gov'ts are like little dogs snarling at the big dog that'll eat it for a snack but willing to make good on their death wish. Meanwhile, the sleazoid bankers and corrupt elites need public money to launder their dirty shit so they can be legit. Am I missing anything yet -?
1 QE per Q: Q3 => QE3. Blow it.
WTF?
We're right back at "as market conditions warrant" while cutting firebreaks and corralling flows. Like this is some sort of surprise...
And these numb nuts can't see the feedback loop they have/are creating .. away from fx land that is Wow
Entire world in a tizzy about what some central bank is going to do on 11/2: check
Doesn't matter how much I sell today or how well I perform my job today in the real world: check
Doesn't matter if I pick PMs or USDs because I will choose wrong: check
System broken: check
Apathy: check
Fuck em all: check
couldn't say better.
You forgot to say privately owned central bank.
I have here the memo from MiniTruth. Please all attend [ahem] ...
Henceforth all data releases from the Department of Perfect Alignments for Moral Victory will be improved by 5% prior to release. You are further instructed not to back-calculate the real numbers from the released numbers as this is violation of your citizenship and subject to retraining. All are further advised that MiniTruth propaganda figures will be officially revised within 30 days of initial release or immediately prior to another release whichever provides the best evidence of victorious improvement, and if you notice this you will again be required to attend retraining. Report yourself should you notice any revisions at all as they did not happen. We are informing citizens of these actions so as to maintain purity of thinking. Any cognitive dissonances require immediate reporting for moral purification. This will lead to improved happiness and a brighter outlook on life, citizenship and labor. Any citizen who did not read this memo and understand the requirements is required to commit suicide.
End of transmission.
You may now return to your regularly scheduled illusions. Remember -- MiniTruth transmissions are all the truth. And ZeroHedge is the enemy of purity and right-thinking for victory.
I can't believe this period we're living through is not an hallucination.
When I come out of it, I hope to God that this "Fed" doesn't really exist, and that this "market" doesn't either
You are close, though.
It's not a hallucination -- it's a hologram.
http://www.huffingtonpost.com/max-keiser/the-market-is-a-hologram_b_660277.html
Captain, there's been another incident on the Holodeck!
Perhaps the Fed, through playing the Q3 is better than Q2 hand is engineering market expectations to QE2.
Softly deflate market expectations of less than asked for $$$$, Ben?
What's in your wallet?
...Sell the news?
Only those endowed with gargantuan, titanium/carbon fiber testicles need apply.
All others, buy gold.
I'm in. Where do I apply?
Oh ya - things are really getting #uckin better. Trillion dollar deficits for years to come.... sure.
The Fed wants to gradually devalue the $USD, but the G20 is going to revolt if a sizeable QE is announced, either via capital controls, tarriffs, or both.
Does the Fed want a global run on its own currency? I dont know... Bernanke is one crazy and deluded MF'er.
Or... does the Fed want to protect the banks at all costs? What's more important, perpetuation of the criminal Ponzi scheme? Or preservation of the $USD as a global currency reserve?
I'm guessing the latter. If Bernanke blows the $USD as a viable global currency-- and a real run on the dollar ensues, the Fed goes 'poof'. And not in a good way.
Assetman yes, the most dangerous place to be right now is between Ben the lunatic professor with his dumbass thesis that if you only print enough money, you can get out of debt, and his printing machine that is pissing off the G20 big time.
I miss the old days when nobody knew for sure what the fuck the Fed would do.
Now it clusterfuck disinformation every fucking day from the members. Like when oflame'o was on tv every fucking day blah blahing.
Thes idiots are worse than a bunch of gossip school girls. WTF is going on?
Btw. That huge fucking cnbc heatmap is starting to talk to me. What a grandstanding waste of LEDs
If Europe continues to struggle, and more so because of the USD it will lead to some significant response.
Europeans are not as placid and docile as Americans. Politicians there know there is only so much shit they will tolerate until going into riot mode. And politicians like to protect their futures.
I still signal tariffs are on the menu against the US.
Yup, what honest, ethical, productive folks need is a massive [non-shooting] war between the countries of the world. That would redirect the focus of predators-that-be everywhere on other predators-that-be. Currently their focus is on abuse and enslavement of their "citizens".
Let the members of the G20 (or the G200) declare all-out war on each other. We can sit back and watch (those of us holding our wealth in gold, silver, and other real, physical goods), and perhaps seriously plot the downfall of elitists, authoritarians and predators everywhere. That is so overdue.
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
cheap vps
windows vps
cheap hosting