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Full FOMC minutes. Nothing to see here. Zero Hedge expects Q.E. 2 to be announced in February 2010.
And, lest we forget, some of B.S. Bernankes greatest hits... has he ever been right?
"I guess I don't buy your premise, we've never had a decline in house prices nationwide...this is mostly a localized problem and won't effect the national ecconomy."
Everytime I see Bernanke talking in front of some committee he SO reminds me of Colin Powell talking in front of the UN, presenting them "evidence" (aka. impudent lies) of Saddams WMDs. He obviously must get shitloads of money for this (playing the scapegoat for banksters) - to be remembered in our history books as the dumbest chairmen of the FED.
i ve typed and retyped what i wanted to say here, but Im just so angry that i cant even construct a coherent sentence. Fed = MORONS.
I always find it quite remarkable how the market can read and digest a 20 page document in less than a minute and come to a conclusion
.. silly me, it is irrelevant, just a moment in time and a chance to kick the dollar back down again after luring in a few indices shorts to gun for the higher close as per usual
I hope it didnt cost you too much but I wouldnt be establishing a short position in this dead ass week.
It should give you all a great deal of comfort that:
Fed Officials Note Dollar Depreciation Was Orderly
Fed To Closely Watch Any Precipitous Dollar Fall (like they closely watched sub-prime)
I am sure the Japanese are very comforted by those comments!..... not....
What's up with "was" like the deprecation was past tense and over now? Fed might as well say "The fiery conflagration destroying the dollars value is under control and we are watching the blaze intently"
lol ( <-- that's a crackup laugh, not a haha funny laugh)
they'll closely watch the dollar fall...all the way down.
I guess we couldn't have expected anything less than what they gave us, right? I mean, once you start down the path of lies and deceit and people begin to make (financial and personal) decisions based upon your lies, you can't very well start speaking the truth now, could you? Right?
This illustrates exactly how the big lie takes on a very scary life of it's own. Because of this, the truth is extremely destabilizing to the lie and in fact becomes (in the minds of the powers that be) a national security issue to suppress and even stamp out the truth and those who speak the truth.
In fact, you could easily be classified as a genuine apple pie eating flag saluting home grown terrorist for speaking the truth. Think that can't happen? It already has and will only accelerate as the months pass.
Belief in the dollar is a religion, and those that lose faith will be branded heretics and treated as such. Look CBS and their ilk, they preach the gospel of "King Dollar" even though they most likely know it to be false. I'm inclined to believe they are simply trying convince people that they are alone in questioning the strength of the dollar. After all when people believe that they are alone in their views they are likely to at least act along with the crowd. That's why I love people like Ron Paul, Peter Schiff, Max Keiser, and the Zero Hedge crew for standing up and proclaiming the truth even though it is unpopular and "heretical".
They continue to highlight inflation, and how low rates could lead to asset bubbles and inflation - further they conclude that the risk is extremely low.
The most interesting thing to me is this bluff that they try to make by diverting everyone’s attention to inflation- inflation inflation. yet the risk for inflation remains low.
How about mentioning the real risk to our economy - DEFLATION - have not mentioned it in months but its still the pink elephant in the room. The FED should be magicians- with their slight of hand trying to divert attention away from the fact that they are ineffectually printing money and yet bank lending and credit tightens... the money multiplier continues to plunge below 1, indicating DEFLATION.
David Rosenberg this morning on CNBC
"US in form of Depression"
Stock markets rallies on news, and hopes for full out depression in future as it means free money for an even longer time.
11 minute Video - starring David Rosenberg and Rick Santelli, with Steve Liesman as comic relief
Best moment this morning was around 7:05am (est) when rosie asked a question to liesman and he couldn't answer it and MCC said "he isn't an economist he just plays one on tv".
At one point this morning Joe Kernen became down right hostile with David Rosenberg. Don't know if it's on this video but Kernen starting firing questions at Rosenberg without waiting for more than 3 words from Rosenberg in between.
Finally Rosenberg puts on that wonderful "am I once again in the same sand box with idiots" look on his face and asked Kernen if Kernen would allow him to finish answering the questions. Kernen clearly didn't like that Rosenberg refused to accept that Kernen might have valid points but all but said Kernen was clearly on drugs.
Finally MCC stepped in to break up the fight and said that Kernen was angry about something, to which Kernen rattled off a list of things he was unhappy with, ending with the fact that Becky was away on assignment. I suspect with Kernen's two enablers (Quick and Quintanilla) away this morning Kernen had to lug around the 20 gallons of Kool-Aid all by himself. Kernen's not used to carrying the Ponzi's water all alone. Or he didn't get laid this morning.
people get laid in the morning? O.o
I heard it's a rare once in a life time event and most people miss out but it does happen. Kernen's "time" was this morning and he missed it by "that" much. :)
I can see how that would set one on edge.
Fortunately for me, ignorance is bliss. (*hands over ears* la-la-la-la i didn't hear anything about this.)
Maybe they should save face and lay off the projections for awhile.
re the Fed Minutes- from Bloomberg-
“Members noted the possibility that some negative side effects might result from the maintenance of very low short-term interest rates for an extended period . . .including the possibility that such a policy stance could lead to excessive risk-taking in financial markets . . .”
gee- you think? not that that has been a factor in anyone's investing decisions so far-
"could lead" as in- it's not happening now-
what fucking buffoons-
the sooner they are disbanded the better
And there's the afternoon run up! Almost green!
Tyler or Marla, are you by any chance providing briefing material (questions, etc) to any of the members of the Finance Committee re: Bernanke's reappointment hearing?
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