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It is always good to hear/read differant perpectives, even from the deflationist from Pheonix Capital. However I still be they are dead wrong. The opening sentance was the tell::There will be no QE3 unless there is a major bank going under or a 2008 type event." My God you idiots, what do you think we are stareing down right now? All Ben can do now is to deny any QE, while all the time he is doing it out the back door.
Yes, we won't have any more QE, just like we stopped bailing out the banks after the one and only official bailout bill. [Sarc off, sucker Summers]
Muckety hasn't factored in the Equation of Socialism which basically shows as socialists grasp for something it first deteriotes and then crumbles like dust between their fingers
so we need to ascertain wether Krugmans 79 rating is a peak or is already in decline to its ultimate destination for all worthless socialists in going to 0.00
The word 'inflation' coming from Bernanke is code language for 'high oil prices'. Re-read FOMC minutes from 2003 onward and the Fed is obsessed with high oil prices and "inflation". Ergo, the rise in discount rate starting in 2004 from 1.0% to what became 5.5%.
This was in response to oil price increases from $12/bbl to (then) $60. On a dollar-for-dollar basis, peak oil took place in 1998, the reason for the current economic meltdown around the world.
This rise in rates torpedoed the mortgage market as the whole kaboodle depended on ultra-cheap short rates in the money markets.
High(est) oil prices and +$100/barrel for 8 months amplified the recession. Peeps could afford the $4 gas but couldn't buy a new car or pay for their house.
What the Fed would really like to see is higher rates around the world without defaults. USA is nothing but 'carry trade nation'. We have nothing left to export other than 'inflation'.
If Carry trade puts food on the table, sure.
As far as that 100 dollar oil, we should be past 300 by now. Hell Ink was 600+ 10 years ago.
That 5 dollar quart of bottled water you drink at work with the silly name equals 1100 a barrel.
Think on that.
QE is ongoing, applied so well you think the world is running without QE.
The point is that there's no official QE announcement. Just magically the ECB increased their balance sheet by 500 billion Euros to lend out to banks. Where the fuck is that money coming from? Inquiring minds would like to know. Is the Fed putting liquidity into the slush fund of shadow banking?
It's not good. People are wondering and starting to ask questions and nobody fucking cares about a falling or rising stock market because more people are looking at their $100 bills and wondering what they're really holding there...
Those that are paying attention (Bill Gross & Co.) know that this is a SHIT SHOW and that no CB can simply increase their balance sheet and produce money from nothing to support a fucking FARCE of a market and economy only so that a few privileged bankers, elite people and legions of government employees can continue to collect bonuses and paycheques.
Eventually the dam will break and that $100 bill is worthless across the globe.
At the very least we are seeing massive QE in Europe. Considering how interconnected the markets are, this is nearly the same as the Fed doing QE.
Yes, and there's one more thing that people aren't paying any attention to: growth of the "shadow banking system" is accelerating. The BIS tells us that $107 Trillion with a T was added to the global derivatives bomb just over the past year.
It could be considerably more, as the BIS is a weasel org. They pretended that global derivatives declined by taking 2008's $1.144 Quadrillion in notional value and applying a new metric that reduced the valuation to about $600 trillion, but total derivatives never declined.
It's Inflate Or Die, beeches.
If they don't print, there will be war. Same as what you're saying.
At this time, I am not convinced that they will print.
The simple fact is that QE 3 is not coming… at least not without a 2008-type event or one of the TBTFs going under first. And even then, Bernanke may find that the political environment won’t tolerate it (after all, the simple argument to counter the need for QE 3 would be: “We’re in a Crisis again… so QE 1, QE Lite, QE 2, and Operation Twist 2 failed to solve the problem… so why should you launch QE 3?”).
While Q2 (and other various forms of credit printing) did not achieve the output results that Bernanke expected, I don't think he actually sees these QE rounds as abject failures, either.
If anything, in these instances, these operations have managed to keep the stock markets here in the U.S. elevated-- and has bought those in government and the banking system invent a viable set of solutions.
Just becuase there really isn't a viable solution to resolve this massive Ponzi scheme, I wouldn't underestimate Bernanke's resolve to implrement QE 3. He may be more inclined to implement it just before the onset of the next banking crisis that do it after... if he is able to do so.
Bernanke and the rest of these political jokers are extending and pretending just long enough to finish their jobs and bug out. It's about as simple as that.
"..Bernanke, who is now so politically toxic that he’s complaining to Congress that the media is treating him unfairly.."
I'm sure it's just "transient" that people hate your guts Benny
Chin up midget, you're going down in history as an economic moron... it was afterall your public mandate to be the pooper scooper for the shittest banking system in history, which The Fed has helped create in every way
2012 is going to be a great year cause the pumpers say it isn't
QE3 is going to Europe in shadow FED purchases.
QE4 will come shortly before the election to bail out BAC, Jefferies, and Morgan Stanley.
But the market will stay flat at best. Economies across the globe are going into recession or have been stuck in recession (truth to be told "depression") and nothing will change that fact.
Demand on everything and everywhere is DOWN DOWN DOWN.
Benny sure is bizzy in his helicopter around the globe but strangely never seen hovering over Main Street dropping his funny money
Bennys mandate is unemployment but has he ever been to an unemployment cue? Maybe he's happy enough with JP Morgans reports on the profits they make printing the food stamps as the cues get longer and Bennys incompetence leads to Dimons Exec Bonus pool
That's because Benny is for the banks, and to hell with us.
Marc Faber says "QE3 is coming for sure." If I have to choose between Faber and this guy......heh.
QE3 has happened ...don't trust catfishmouth Bernanke when he questions his own policies... he's been printing and shuffling QE3 out the backdoor to bailout European banks (and by default US banks) for months
2012 is going to be a very scary year. Place your bets accordingly and hold on tight.
" Temporary" ? Penny slots anyone?
"It’s a little bit of an estimate, but to me the key level is 1.30 (on the euro). With the euro 1.30 or higher, that is going to accomplish the Fed’s purpose of a cheap dollar, so we will not see QE3. But now that the euro has breached 1.30 and if you see it at that level or going lower, 1.28, 1.27, trading in there, then you are going to see QE3. That’s going to cheapen the dollar and get the euro back up again. So, yes, it (the euro) has traded down, but I view that as a temporary phenomena and something that is going to be a trigger for QE3 from the Fed."
Was 100$ ponzi crude your reason for this BullShit " WRITE" ?
He's quoting Bernake, he actually believes what that guy is scripted to say to the public.
""We never take anything off the table because we don't know where the economy is going to go"
this from the same fucktard who didn't see 2008 coming.
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they never stopped printing, gold revaluation is next up!!!!!!!! then continue printing, gold will absorb the brunt until things turn a bit in 2015.
Bingo to "The never stopped printing".
Wonder what this looks like now. There is no way to stop. It is merely a maintainence program now. It is building the biggest bridge to nowhere ever! Increasing doses of fiat!
ZERO rate box dead end for the worlds reserve currency. Soon, anything that isn't nailed down will be bought by the FED.
Unwinding will continue.
Confidence is next. Like all the other controlled fronts, the smart money will be ahead of the propaganda machine. "It looks like we are going back into recession" What? Darn!
QE to Infinity and beyond!
The Fed is trying to influence public perception so don't count on the truth from them.
I have news for you Dude. We've already got QE II&I/II. Haven't you been keeping up, it's called super-double secret probation, and it's leaking at least $30 billion a week from the FED, and more from the ECB and BoE. Where you been bro'. It's the dead season and the central banks are still stuffing money down a euro hole like its a Christmas goose. We're talking a 100 billion a month from our FED alone, not to mention what the ECB, BoE, Buba, and who else feeding the dragon. Sweet Mary, I call that global QE MAX. What do you call it?
Don't appologise this is great news. Maybe we can actually let the market clear all this up and the Fed can stop messing with the market.
Lay off the drugs man. They are no good for ya.
"QE 3 is not coming… at least not without a 2008-type event or one of the TBTFs going under first."
Well, duh. Bank of America could be allowed to slip under the waves for good, at any time convenient to the Fed. As for a 2008-type event, several of them are coming, and on steroids.
The ECB just pushed its balance sheet more than a trillion bucks past the Fed's.
QE3 is coming along with QE4, 5, and 6. It's just a matter of time. Given the structural deficits in place it's either inflate or collapse. History has proven that 100% of the time governments will choose to inflate. This time is not different.
Banks printing money into toilet paper status comes after the economy has been fully wrecked, most debts defaulted upon and everyone is assured the economy is REALLY BAD (think of Pelosi as a porn star). Unitl these things happen, expect limited money printing. When TSHF, those printers will be running full blast non-stop! PMs will be worth their weight in gold at that point.
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