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All that ever matters during the latter stages of the POMO disease is what is said today combined with the amount of POMO injected into the financial bloodstream.
Everything else is dead and forgotten.
Graphic image of a barbed harpoon (QE1, QE2, QE-Lite) killing the bull. Once QE goes in - it NEVER comes out until the bull is dead.
It never ceases to amaze just how much utter bullshit spews forth from the twisted minds of the Fed board, wall street hucksters, and, politicians in general. Truth died a long time ago.
no soundbites, just walked on stage.
Let's see,... 12... plus 1, oh, and don't forget the FOMC members.... that come's to..... ah...20! Yes, 20 ankle bracelets,.... and just enough chain so that they can get to the john, because you know they'll be spewing plenty of shit.
Better yet, 20 gallows - no shit to worry about.
well just one time anyway.
Most of these clowns at least temper their remarks with some remourse and/or regret that they're making a necessary evil type choice. However, that damn Yellen is just a moonbat. She is all in and giddy about running the printer and putting the final nail in the coffin.
QE2 and QE Lite have juiced the market so high that if they do stop printng, the crash is going to be even greater and more destructive than it would have been. The Bernank will be fed to the Nile crocs in the Bronx Zoo if they catch him in the NYC, or at the Washington Zoo in DC if they catch him at FED HQ.
No, no, no. They have not modeled themselves upon samurai. It's JC and the Apostles, don't you understand. Where is Banzai with a Last Supper illustration when you need him?
Much more entertaining than if those statements were under oath.
Don't forget Bullard on CNBC a couple of months ago. (para)
Why is longterm unemployment bad?
"Because those workers lose those years from a normal earning/consumption pattern of life. They can't get those years of purchasing power back"
Since then Big Ben, has been making a point to say unemployment is bad because of skill and social atrophy.
But CNBC struck back today, half way joking on squawk about the unemployment numbers:"Why don't we just hire all the unemployed to work for the Fed? Good pay, Good Benes," ...... (mine) and it does not matter whether you do a good job or not ....
A colleague of mine sent this to me:
From the BBC - by John Cleese. ANNOUNCEMENT The English are feeling the pinch in relation to recent terrorist threats and have therefore raised their security level from "Miffed" to "Peeved." Soon, though, security levels may be raised yet again to "Irritated" or even "A Bit Cross." The English have not been "A Bit Cross" since the blitz in 1940 when tea supplies nearly ran out. Terrorists have been re-categorized from "Tiresome" to "A Bloody Nuisance." The last time the British issued a "Bloody Nuisance" warning level was in 1588, when threatened by the Spanish Armada. The Scots have raised their threat level from "Pissed Off" to "Let's get the Bastards." They don't have any other levels. This is the reason they have been used on the front line of the British army for the last 300 years. The French government announced yesterday that it has raised its terror alert level from "Run" to "Hide." The only two higher levels in France are "Collaborate" and "Surrender." The rise was precipitated by a recent fire that destroyed France 's white flag factory, effectively paralyzing the country's military capability. Italy has increased the alert level from "Shout Loudly and Excitedly" to "Elaborate Military Posturing." Two more levels remain: "Ineffective Combat Operations" and "Change Sides." The Germans have increased their alert state from "Disdainful Arrogance" to "Dress in Uniform and Sing Marching Songs." They also have two higher levels: "Invade a Neighbor" and "Lose." Belgians, on the other hand, are all on holiday as usual; the only threat they are worried about is NATO pulling out of Brussels . The Spanish are all excited to see their new submarines ready to deploy. These beautifully designed subs have glass bottoms so the new Spanish navy can get a really good look at the old Spanish navy. Australia , meanwhile, has raised its security level from "No worries" to "She'll be alright, Mate." Three more escalation levels remain: "Crikey!", "I think we'll need to cancel the barbie this weekend", and "The barbie is cancelled." =
some Bernanke classics. http://www.youtube.com/watch?v=INmqvibv4UU
What a joke, they don't give a damn about employment nor the economy, it's about transferring wealth to their banker masters, always has been, always will be.
QE isn't about liquidity nor recapitalizing, it's about handing America's wealth to bankers in exchange for worthless securities.
Buy gold and oil and you will be ok imo.
Savers, retiurees, etc. who are in cash are getting hurt badly
(paraphrasing) Jim Rickards:
"The Fed is of the banks, by the banks, and for the banks. Their real mission is to benefit and save the banks. Their talk of a dual mandate to keep inflation and unemployment rates low makes good talk, and while this may be a good thing if it happens, that is not really what they are there to do. They are there for the banks. The sooner people grasp this, sooner the Fed's actions will begin to make sense."
In other words, they notion they are a government agency that are there for you is indeed an lie. They are there to protect the banks at your expense.
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