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As POMO Ends, Stocks And Commodities Tumble
Just as POMO ends, the floor gets taken out of the market. And this was just a $6.4 billion operation (monetizing the recently issued 5 year). To think there still are those who believe the Russell 2000, pardon, the economy and the wealth effect can be sustained absent quantitative easing. The market is finally, with about a 3 month delay, pricing in the end of QE2. We wonder how long before it starts (since 2011 is a replica of 2010) pricing in QE3...
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10-yr. yield within 10 bp of crashing through 3.00%
"I love the sound of CRASH in the morning. It sounds like....victory."
@robo
"10-yr. yield within 10 bp of crashing through 3.00%"
Well, ordinarily, I would say this is deflationary.
I maybe would even add, as I've done before, that Mr. Gross temper tantrum has not helped him (as Mr. Tyler has so aptly pointed out, he is short Tres)
However, I now see the error of my ways, and freely acknowledge and apoligize for any apostate / blasheme that may have left my keyboard.
My sincere apologies, Muir
Bill Gross is a stubborn, stupid man.
If he's short the treasury, his customers are in for a rude shock. TLT is grinding mercilessly toward 100.
grinding mercilessly to 100...
from 105 last year?
Wait, do we now have a "weak dollar" policy instead of a "strong dollar" policy?
I'm confused.
I can't tell you how good it feels to have put 50% of my portfolio into 10 year T-notes a couple of months ago.......just as Gross was coming out trashing them.
Ezra Klein says that we need terms that should replace “strong dollar” and “weak dollar" . . .
http://www.washingtonpost.com/business/strong-dollar-doesnt-make-sense/2011/05/16/AFeppB5G_story.html?hpid=z11
Klein is a classic dirtbag Keynesian Globalist. His ilk aim to replace the USD altogether, not just the words. He thinks that all of the currency related teeter-totter economics will be solved once we price everything in a global "3rd-Rock-Ducat" or whatever they come up with.
Elitist pinheads like Klein have never had an original thought in his life, despite their "superior education". These bungholes are a barameter for sheeple. They will, therefore, always be behind the curve, (when they are not off in the weeds with some masterbatory drivel of the kind that Klein is spewing in this article).
the drop in yields and the rise in the dollar is a very bad sign for the usa economy. housing is very troubled to say the least, and even with low rates it's difficult to move the merchandise. all these things we observe daily in the markets have little bearing in the real economy which is in shambles, except for isolated pockets.
I have no isolated pockets, however, I do have many empty pockets.
lol. good one. sometimes i feel like my pockets have holes in them. the more money i put in them the quicker it falls out the bottom: new fence, a/c unit, car repairs etc etc
Risk off is the new risk on.
Still sitting in cash.
Didnt have the courage to buy treasuries at the stock market peak. Oh well.
next QE will drive gold to $3,000 and silver to $435 as John Williams from Shadow Stats predicts.
I'm all down for that but let's get to $1600 and $60 first.
That's right guys!
Like I've said before, BTFDs!
And then, BT next FD and the next and the next....
Really, is it so difficult?
Times have changed now according to the PM experts around here like Bob, Mogul, Math Boy and Dangertime. I guess you should abandon that losing strategy of BTFD (physical accumulation, cost averaging in) and go with EW and Bob Prechter?
Of course, they've only been wrong 11 years in a row. But has their time finally arrived? Maybe Ron Rosen and Marino Pieterse are still around too?
LOL.
Some metal is good. Very good. I myself love gold.
I hate when people turn it into a Religion and end-all to financial uncertainties, that's just silly.
Religion? You mean like Keynesianism?
And using some common fucking sense holding some gold and silver gets trashed as "conspiracy theory" by the people who espouse their very own version of monetary and fiscal "religion" on the rest of us?
Oh, I see...
Mr Castro,
I myself own gold (have said so)
Philharmonics to be exact.
Bought tubes from Monex delivered via USPS.
And it makes sense to own PMs.
Calm down, the revolucion is doing fine.
Really, it's ok.
It's that reflex action of having to swat robo, zing, and the rest of the Anti-PM Sock Puppet Brigade.
Give them all the food and drink they want, let them gorge themselves, then starve them.
You will be amazed at what they will do when you proffer food and drink again (at least, those that survived).
The central banks and bankers have advanced notice and refrigerators and storage vessels so they have food and drink all the time, and know that they will always be able to toast a happy event and bake a birthday cake at the appointed times. It helps that they are friends with the Warden, live in the luxury suites, can leave at anytime, and only pretend to be in prison with the citizenry.
Run that tin cup along the jail bars fellow prisoners, the fatted calf is being sacrificed and the keg being opened, just not in our cells.
Each new roll out of QE to infinity the benron moves faster to build in a strong dollar and crush inflationary commodities. The we'll be primed and pumped for the next saving dead head QE to infinity. You can sense how much of hurry to lift the USDinker dollars about to fall off a cliff and crush the commods. Swings to get more brutal as the dead financial system gets buried in debt. I think the 2 trillion lift on the debt ceiling could be financed by local yard sales.
Exactly!
BTFDs!
The apostates and blasphemers will have their comeuppance soon.
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The Euros just saw their shadows and it caused them to tinkle in their panties or they just stayed up playing video games all night.
http://www.youtube.com/watch?v=IftmTwzgYks&feature=related
The US "economy" suffering further withdrawal symptoms. I'd think the patient has to be shaking violently for a call for more stimulus to be answered. Ben is going to have to have people begging for it since QE2 caused so much global eye rolling.
However, if the market tanks too much there is the danger of losing the one remaining trophy of QE, which was that the market is doing well.
It's anyone's guess, but before there is QE3 (which will be called something different), there's going to have to be a concerted MSM charm offensive to talk about how the patient is dying and more stimulus is needed. Right now we're only hearing the specialized financial press obliquely refer to the need for more stimulus.
"Please Ben, Save the United States of America!"
I think I have this QE3, QE4, etc. thing figured out.
Obama finds Jimmy Hoffa = announce QE3 same day.
Obama finds DB Cooper = announce QE4 same day.
Obama finds Natalie Hollaway = announce QE5 same day.
Obama finds 5 Navy Avengers appearing from Bermuda Triangle = QE6 same day.
It is almost comical to watch how everyone thinks they know what is going to happen. I call bullshit. There are too many wild cards out there. It is 2 pm, put your donuts down, get out of your pjs, or worse, put some clothes on and go get some exercise before you need to buy a new fucking chair. Call me when the the dow drops 1000 points in 2 weeks and then we can start playing ball.
"It is almost comical to watch how everyone thinks they know what is going to happen."
Well, everyone is at least one person too many, as I have saying for months that deflation was a real possibility.
Its sure the hell not you. Post your trades good and bad or shutup.
Exactly, squeeze in play in equities at the moment, and that can go a looonng way!!
Wow, umm near 200% move in stock market dwarfing the upswing in the great depression following the initial crash. You first. Hope you have aflak cause its along fucking way down if you fall.
Crazy bitches, bitches!
Something VERY big must be going down. The MSM just revealed that the the dog on Seal Team 6's name is "Cairo."
Will they stop at nothing to distract us?
All up ticks after 3 were met with hard selling. That means the carbon based lifeforms are getting the fuck out of dodge. Godspeed you pensioneers
Going to trade in $3K worth of USD FRNs for some more of "the precious." Wish me luck that the damn price doesn't recover sky high in the next hour.
C'mon Blythe you fucking bitch, bang the close like you always do.
What did Tyler say, Mable,
"As POMO Ends, Stocks And Commodities Crumble?"Or Spain poops in Europes pool. Its ok its just a snicker bar. Come on in the waters great! Oh Hell, thats not a snicker bar you asshole.