• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

POMO And Market Intervention: A Primer

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Sun, 09/26/2010 - 12:21 | 605546 bugs_
bugs_'s picture

Interesting thought that FRBNY and the FED might not be on the same page.

Sun, 09/26/2010 - 12:52 | 605592 Sudden Debt
Sudden Debt's picture

did you ever know a government service that shined in communication?

Sun, 09/26/2010 - 14:12 | 605675 Oracle of Kypseli
Oracle of Kypseli's picture

Based on this article there are a thousand leaking faucets at the same time. Neither Bernanke nor anyone else can plug them successfully.

He is snooker and he knows it. He will eventually use his Glock 40 and end it all in his den with no note left, unless he does not get re-appointed.

You're snookered Benny. Or as they say in the United States of Entertainment: You are behind the 8 ball.

Sun, 09/26/2010 - 14:26 | 605691 Oracle of Kypseli
Oracle of Kypseli's picture

And one more thing:

Since we are talking unified theories, which is in the quantum mechanics territory, let's ask Mr. Ben if he is familiar with Heisenberg's uncertainty principle and Planck's constant

http://en.wikipedia.org/wiki/Uncertainty_principle

Good luck with that.

Sun, 09/26/2010 - 15:35 | 605797 SRV - ES339
SRV - ES339's picture

...

Sun, 09/26/2010 - 17:07 | 605925 scratch_and_sniff
scratch_and_sniff's picture

lol "self-referentially coherent ". That one is going into my contortionist repertoire.

Sun, 09/26/2010 - 17:56 | 605985 knukles
knukles's picture

Frankly, it amazes me that anybody even thinks that QE 1 ever even slowed down let alone QE 2 beginning.

The FED is Out of Ammo.  They have No further Unused Tool.  All they can do is More of the Same.  Either Expand the balance sheet or Degrade its quality, and both have been done in Biblically Large Zimbabwean Proportions.

Furthermore, with the Maiden Lane's and AIG rescue when viewed opposite the "permitted" (another story for another time) demise of Lehman, the FED's even trod into Fiscal Policy. 

Sun, 09/26/2010 - 20:28 | 606213 Prof Gulliver
Prof Gulliver's picture

"No further unused tool. All they can do is more of the same."
How did "more of the same" work out for Nagasaki?
I've been reading "the Fed is out of ammo" for two years.
They're not.
What part of "Don't fight the Fed" do you not understand?

Sun, 09/26/2010 - 23:51 | 606472 knukles
knukles's picture

Didn't.  They only got nuked once.  A second time would have made no difference.

 

Mon, 09/27/2010 - 01:04 | 606572 Prof Gulliver
Prof Gulliver's picture

Umm, Hiroshima first, then Nagasaki. More of the same had quite an explosive result, no?

Sun, 09/26/2010 - 18:10 | 606006 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

It's tough to go to the beauty contest every day, especially if you have a view that there should be some consistency to reality and that the overweight one with warts does not portray the ode to a grecian urn.

Remember, have a bucket to buy what you hate. POMO stocks up yields down is certainly antithetical to free markets as fundamental analysis, technicals etc. all are ground down into so much chaffe. But it's working. Mr. Tepper. Hello, Mr. Tepper ?

Maybe it would be easier to jump aboard the cynic / gravy / train if you were a professional politico since that is how your bread gets buttered at any rate ...

Buy what you hate. Repeat after me ...

Sun, 09/26/2010 - 21:35 | 606293 tom a taxpayer
tom a taxpayer's picture

Tyler, Bob English and The Precision Report - Thank you for the peek behind the curtain.

Fri, 10/15/2010 - 03:06 | 652052 nikejordan
nikejordan's picture

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