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If this brings QE to an end sooner then so be it.
DID I Tell you guys be positive and BTFD yesterday?
Now open your eyes and look at the futures.. sigh..
All hail the Oracle of Mad Magazine. You are a national treasure.
Apparel didn't rise? No shit. $10 for a pair of cotton briefs. Wheres my sewing kit?
Those really have gotten expensive.
...and everything from yesterday never happened.
Keep those printing presses cranking out fiat currency 24/7/365...
The Ben Bernank = enemy of human race
It sometimes creeps in my mind that HE, Bubble Ben, is the 3rd anti-christ Nostradamus was talking about. Check it: he's jewish, sheepish, mild-manner, very very unsuspecting anti-christ, yet he has the keys to the kingdom for now. One would think: Ghadafi or Chavez as the 3rd anti-christ, with their military power etc.
But that is how perverse nature is....the person who you least suspsect brings it all down.
The Machine is pumping futures like hell in pre-market. Got to erase those losses from yesterday.
Huminitarian crisis in Japan = check
Ongoing crises throughout MENA = check
Surging food and energy prices = check
Central bank money printing = trump card
What interesting times we live in.
You know the system is totally ferked and corrupt when the sureal becomes the norm.
Watch the European stocks ramp up. Unbelievable.
Bernanke the whore of babylon trying to bring about the end of the world.
Humanitarian crisis in Japan. Ongoing crises in MENA (one of the root causes was surging food prices), high unemployment in the USA (don't believe the BS from the BLS that U3 really dropped from 9.8% to 8.9% in 3 months), 44+ million Americans on Food Stamps, surging food and energy costs across the globe...
... and The Ben Bernank is defending QE every goddam step of the way...
The Ben Bernank = enemy of humanity
If Bernanke is look for his inflation, this is it - 2.4% on The Bernank's cherished (that which severely understates real) core inflation.
So, that's akin to probably something on the order of 8% to 10% annually on an aggregated average for the things we need to buy to live, with a solidly intact trendline.
Success! Success, Bernank!
So is it the increased inflation or the increased radiation fallout that is causing the S&P to commit complete credibility suicide this morning?
Toss Art Cashin on the burning pile with B. Stutland [who was telling you to short volatility just four days ago] and Jim Iuorio who this morning claims that "the market feels somewhat better," as Art just referenced everything that happened yesterday as rumor.
And more than any post about inflation or radiation, what does it mean that the criminal syndicate known as Wall Street does not seem to care about how the credibility of the world's largest [and once free] market is destroyed on a daily basis? What does it mean for what comes after all of this?
Art Cashin started drinking heavily at 5:00 this morning.
Glad I completely pulled out of equities last week of Feb. No crystal ball, just dumb luck and a hunch.
This is my last week of trading equities.
Then its time for Spring Break, Mardi Gras, and green beer.
Rents are going up here. You fucken chumps pay way too much just to live every month. My rent is locked in at pre gentrification and inflation levels. Keep lying to these poor SOBs though.
Where do you live? I'm in Southern California, where rents are dropping drastically in and around Los Angeles Metro. I'm not referring to San Bernadino, where you can now buy a 5 bedroom McMansion for $190k. Plenty of rental properties in desirable locales compared to this time last year. And prices are coming down, not going up.
"Let them eat iPads"
No Worries, I heard there is a food App!
F the FED
At what point does The Bernanck acknowledge inflation and ease up on QE? I thought he said on 60 Minutes that he will step in right away if inflation rears it's ugly head. Oh I forgot, food and energy don't matter.
15 minutes from the time this report was released, so any minute now.
Let them eat hedonic soup!
CNBS panel believes there's no inflation. That's good enough for me, Bernank, the market and TPTB. All together now: "There is no inflation!"
Thanks to the magic of biflation they can play the game of plausible denial. Byron Wein said it perfectly: there's no wage inflation, there's no housing inflation so therefore there's no inflation. It's what I've been saying here for over a year. Lotsa Luck!
Was that inflation too ?! http://www.nytimes.com/2008/06/06/business/worldbusiness/06euro.html
Biflation is a proverbial vise-grip, squeezing the middle class hard.
Your wages are falling or at best staying flat, the value of your home is falling or at best staying flat, yet the things you must have to survive--food, energy, healthcare, education are all going up in price substantially. How is this good for the economy?
As long as Bubble Ben keeps stoking the stock market, the perception is that everything is perfectly fine. The Wall St. cabal sure knows how to levitate equities...
Here is some good (and unsolicited) advice for everyone:
Turn CNBS off and stop wasting time watching that excrement.
Avocado prices up 35% since January.
earnings declined and total on UE increased 180,000....rally time
"At this point it is safe to say that nobody knows how many 99ers are rolling off on a weekly basis from the EUC/Extended claims ranks."
I'd say we could probably determine how many people are falling off of that roll by counting the number being added to the food stamp program.
If it takes, say maybe, 4 weeks to get approved for food stamps, you could start charting the continuing UE next to the food stamps with a 4 week trail and see what kind of correlations you get.
It takes 8 to 12 weeks.
Dow up 110+ S&P +16 You cannot make this shit up!
Markets up! Quick, everybody back in the radiation pool!
QE is now a perpetual motion machine.. Jim Rickard's interview summary here, http://goldandsilverlinings.com/?p=270
AB=CD target of 1225.
I like the part in the report that said gas rose by 4.7% in February. In my neighborhood, gas rose 8.45%! For my household, the cost of living went up 1.79% for February, not 0.5%, only about 250% more than the government says.
If anyone is interested, I have posted my "Personal CPI" numbers at verifythecpi.blogspot.com.
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