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FOMC Does Exactly What Market Told It To Do

Tyler Durden's picture





 

Just as consensus demanded expected, the FOMC transformed sterilized 'Twist' into unsterilized QE4 in addition to QE3's MBS buying and lowered economic forecasts - dropping calendar-based rate guidance unchanged with a shift to "Evans-Rule"-like threshold-based guidance. High inflation, forget it; 'lower' unemployment, naah; market wants 'moar' so market gets 'moar'. $4 Trillion balance sheet here we come (check to Draghi's OMT and Spain or EUR 'richness' crushes hopes of recovery).

  • *FED BOOSTS QE WITH $45 BILLION IN MONTHLY TREASURY PURCHASES
  • *FED TO KEEP BUYING MORTGAGE BONDS AT PACE OF $40 BLN PER MONTH
  • *FED SAYS MONTHLY PURCHASES TO TOTAL $85 BLN
  • *FED ADOPTS ECONOMIC THRESHOLDS FOR POLICY TIGHTENING
  • *FED: RATES TO STAY EXCEPTIONALLY LOW WITH JOBLESS ABOVE 6.5%
  • *FED: RATES TO STAY LOW WITH INFLATION SEEN AT 2.5% OR LESS

Disappointingly for AAPL investors, there was no explicit decision to monetize mini-iPads (or their own subsidized student loan debt in the ultimate reacharound).

Pre- And Post- Levels (post = 15 mins after news) - small moves in general

 

 

Redline comparison with October statement:

 


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Wed, 12/12/2012 - 13:34 | Link to Comment SoNH80
SoNH80's picture

Charge it!

 

 

Wed, 12/12/2012 - 13:34 | Link to Comment Transformer
Transformer's picture

Here we go!!

Wed, 12/12/2012 - 13:38 | Link to Comment camaro68ss
camaro68ss's picture

by my calculations and based on 1/2 lifes. QE12 will start around July 15th 2013. QE13 will then start on july 16th 2013. We got 7 months

Wed, 12/12/2012 - 13:42 | Link to Comment fuu
fuu's picture

$32,473.21 per second...FOREVAR!

Wed, 12/12/2012 - 13:44 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is not remember for QE, one day is wake up and bank account balance is double. QE2, is double again. QE3, QE4, is wake up for bank account double. No, wait, is dream only, but dollar (or ruble) is now 1/8 value. Next life, Boris is born a Rothschild, tired of life as serf.

Wed, 12/12/2012 - 13:49 | Link to Comment TruthInSunshine
TruthInSunshine's picture

 Even in "sovereign" Russia, Rothschild owns Putin!

Wed, 12/12/2012 - 13:55 | Link to Comment kahunabear
kahunabear's picture

When do the huge Charles Evans statues and images go up in the public squares?

Wed, 12/12/2012 - 14:27 | Link to Comment fuu
fuu's picture

Kitco we have liftoff. Err umm.

Wed, 12/12/2012 - 14:28 | Link to Comment icanhasbailout
icanhasbailout's picture

Inflation at 2.5%, eh?

 

My benchmark 99 cent box of pasta from two years ago is now at $1.65.

 

As there's been no particular shortage of that product relative to any other, I'd say actual inflation is already running at near 30% y/y.

 

 

Wed, 12/12/2012 - 15:56 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boris is benchmark by dilution of basic commodity like Vodka.

2005, Vodka to Ethylene Glycol 10%

2007 - 25%

2009 - 55%

...Today, Boris is just drink Ethylene Glycol.

Wed, 12/12/2012 - 15:01 | Link to Comment The trend is yo...
The trend is your friend's picture

Have you adjusted the numbers for the reduced quantity in the box?  Food Inflation is probably running higher

Wed, 12/12/2012 - 16:20 | Link to Comment icanhasbailout
icanhasbailout's picture

The box is still 1 lb. of pasta.

Wed, 12/12/2012 - 16:27 | Link to Comment GolfHatesMe
GolfHatesMe's picture

No it isn't, neither is coffee nor ice cream  time for Tiny utensils

Wed, 12/12/2012 - 16:42 | Link to Comment Esso
Esso's picture

A pound of smoked sausage went from 16 to 14 to 9 ounces double-quick.

Wed, 12/12/2012 - 16:54 | Link to Comment TruthInSunshine
TruthInSunshine's picture

lmao...Kindergarten classes being taught the "new math" as we speak, across the country

"1 pound equals 12 ounces."

Wed, 12/12/2012 - 17:09 | Link to Comment icanhasbailout
icanhasbailout's picture

I'm Italian enough that they couldn't reduce the amount of pasta in a box without me noticing. I've been attentive to changes in product sizes; the great thing about the pasta benchmark is that the product size has not changed, which is why it reveals a level of inflation obscured by product size changes in other products.

And yes, I've noticed that the tricolore pasta is indeed down to 12 oz. but that's not my benchmark.

Wed, 12/12/2012 - 15:41 | Link to Comment YuropeanImbecille
YuropeanImbecille's picture

What are the gooks saying about this? What will they do with their 3 Trillion joobux?

Wed, 12/12/2012 - 13:51 | Link to Comment EscapeKey
EscapeKey's picture

It's a little known fact that the Fed can print unlimited amounts of money and it has no repercussions whatsoever. That's what the history of John Law taught us. - Cliff 'Bernanke' Clavin

Wed, 12/12/2012 - 13:54 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Love the Cheers reference. I agree that there are no repercussions to uninhibited money printing, growing, harvesting and chopper-dropping. It  stimulates hardons and kindles the inner yuppie in all of us.

Wed, 12/12/2012 - 18:48 | Link to Comment hannah
hannah's picture

didnt work out too well for woodie when him and sam invested with the rich guys...

Wed, 12/12/2012 - 23:31 | Link to Comment eatapeach
eatapeach's picture

I'll have a Screaming Viking, please

Wed, 12/12/2012 - 13:57 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Boris, pass the Wadka please.

Wed, 12/12/2012 - 14:03 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

The only astonishing thing about all of this is that people walk around pretending everything is fine and this is all normal.

Wed, 12/12/2012 - 14:13 | Link to Comment EscapeKey
EscapeKey's picture

The vast amount of people out there want to swallow the blue pill.

Wed, 12/12/2012 - 14:26 | Link to Comment odatruf
odatruf's picture

Exactly. Even if you gave them a placebo, they'd pretend to have taken a blue one in hopes of faking it 'till they make it.

 

Wed, 12/12/2012 - 15:08 | Link to Comment Luckhasit
Luckhasit's picture

"If i don't know about it, then it can't hurt me."

Wed, 12/12/2012 - 14:47 | Link to Comment JPM Hater001
JPM Hater001's picture

We got seven month "Sir".  I'm sure you didnt mean to disrespect the Powers That be.

Wed, 12/12/2012 - 13:40 | Link to Comment eclectic syncretist
eclectic syncretist's picture

First we print the money that belongs to you, then we loan it to you at interest.  The best part it, we made it all legal.

- B.S. Bernanke

Wed, 12/12/2012 - 13:44 | Link to Comment rqb1
rqb1's picture

Well said, I remember when I first understood that statement.  Great business they got there.

Wed, 12/12/2012 - 13:56 | Link to Comment camaro68ss
camaro68ss's picture

a 30% increse in printing from there last Announcement in September and the markets didnt even bat an eye. We are so F***ed

Wed, 12/12/2012 - 14:27 | Link to Comment odatruf
odatruf's picture

If they were actual markets, they would have trembled. That they didn't is simply more proof of their corruption.  As if any were needed...

Wed, 12/12/2012 - 14:45 | Link to Comment JPM Hater001
JPM Hater001's picture

This is just stupid.

Get it over with already.

Wed, 12/12/2012 - 14:52 | Link to Comment JPM Hater001
JPM Hater001's picture

If you arent familiar go watch the smoke filled room study.

In short,

Test One:One Female-Sitting in chair filling out a Survey-smoke comes under far door.  Out in less than 30 seconds.

Test Two: 7 or 8 Confederates and 1 Female- Sitting in Chairs all filling out surveys- Cue smoke under far door.  No one said anything and the lady didnt leave for over 20 minutes.  I gotta think we're close to that threshold.

Wed, 12/12/2012 - 14:57 | Link to Comment XitSam
XitSam's picture

I've seen similar studies where the other people assured the test subject that everything was fine and not to worry. Test subject believed them.

Wed, 12/12/2012 - 13:51 | Link to Comment EscapeKey
EscapeKey's picture

Meh, it was legal long before Bernanke existed.

Besides, he is nothing but a puppet in their little game.

Wed, 12/12/2012 - 14:05 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

The USD is simply a license to trade with US corporations and citizens and traffic in American goods.

It is only license.  This is why its meaning is plastic - it is at once commodity, asset, liability, money, currency, etc.   It is all these things in latency, proxy, and shapelessness. 

Gold is not a "money substitute".  Instead, Fiat is a substitute for reality.

Wed, 12/12/2012 - 14:05 | Link to Comment vast-dom
vast-dom's picture

JAIL THE FED!

Wed, 12/12/2012 - 14:53 | Link to Comment JPM Hater001
JPM Hater001's picture

This time I actually mean it...

Tell me how you really feel.

Wed, 12/12/2012 - 13:36 | Link to Comment slaughterer
slaughterer's picture

Quick, someone here tell me, how do we keep the unemployment numbers up?  

Wed, 12/12/2012 - 13:38 | Link to Comment derek_vineyard
derek_vineyard's picture

if every country prints money...isn't it the country that prints the highest % going to be the one getting the worst inflation?

Wed, 12/12/2012 - 13:56 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Actually, the country with the fastest printing press will win because it becomes the richest country , Silly.

Wed, 12/12/2012 - 14:20 | Link to Comment NaiLib
NaiLib's picture

FED...BOE...ECB...BOJ...PBOC...SNB... they're all printing more and more.

Wed, 12/12/2012 - 13:39 | Link to Comment Quintus
Quintus's picture

Simply raise the Labor Participation Rate. 

Wed, 12/12/2012 - 13:49 | Link to Comment TheSilverJournal
TheSilverJournal's picture

So, extend unemployment benefits and reopen unemployment benefits up to those who have already used up their unemployment?

Wed, 12/12/2012 - 13:56 | Link to Comment CPL
CPL's picture

Yes.

 

Like the last five extensions starting in 2008.

Wed, 12/12/2012 - 13:57 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Or hold a mandatory monthly jobs fair at the mall where EBT bonus cards get distributed

Wed, 12/12/2012 - 13:58 | Link to Comment rubearish10
rubearish10's picture

Which also implies no spending cuts on UE benfeits since that would reduce the LPR too! What Fiscal Cliff?

Wed, 12/12/2012 - 14:04 | Link to Comment HD
HD's picture

Unemployment above 6.5%?  HILARIOUS. They just gave themselves cover to print FOREVER...

Wed, 12/12/2012 - 13:39 | Link to Comment TruthInSunshine
TruthInSunshine's picture

More accurate unemployment numbers will thus now be reported, while CPI will thus now be even more tortured.

Wed, 12/12/2012 - 13:43 | Link to Comment SoNH80
SoNH80's picture

If they are off by 1% GDP deflator right now, we are in recession.  They are likely off by at least 2%.  We are in deep doo-doo, as George Herbert Walker Bush Walker Preston Bush IV would say.

Wed, 12/12/2012 - 13:58 | Link to Comment twh99
twh99's picture

I have been saying this for awhile.  We are in a recession right now and have been for a few months.  Only the FEDS spilling money into the streets and keeping the stock market afloat has hidden it.

Wed, 12/12/2012 - 14:00 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Exactly. Officially for last quarter deflator equals GDP. IE: Economic contraction in real terms if Ben so much as drops a dollar on the walk over to JPM

Wed, 12/12/2012 - 14:07 | Link to Comment HD
HD's picture

Pretty sure that was Jar Jar Binks.  Then again, it's hard to tell them apart so you might be right.

Wed, 12/12/2012 - 14:12 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The NEW DRINKING GAME phrase is Hedonic Quality Adjustment in the CPI or variations thereon.

Everyone will substitute Vienna Sausages in a tin for T-bones and learn to LOVE IT!

Wed, 12/12/2012 - 14:21 | Link to Comment phalfa5
phalfa5's picture

or  spam

Wed, 12/12/2012 - 14:27 | Link to Comment SoNH80
SoNH80's picture

Then, down to "Potted Meat Food Product"

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

Wed, 12/12/2012 - 15:21 | Link to Comment Esso
Esso's picture

Yeah, I knew I shouldn't have clicked on that link, but I did it anyway.

Wed, 12/12/2012 - 13:47 | Link to Comment TheSilverJournal
TheSilverJournal's picture

This is the best part - "inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored."

So it's not even the government's measure of inflation now that matters. Inflation could be running at 3% or even 4%, but as long as they say that they expect inflation to come down to at least 2.5% over the next year or two, then they're still within these guidelines.

Wed, 12/12/2012 - 13:54 | Link to Comment EscapeKey
EscapeKey's picture

Inflation always is and has been a "transitory" issue. You can thank Mervyn King for that one.

Wed, 12/12/2012 - 14:03 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Whenever inflation will get a little hot, the real economy will deflate further and demand will drop. Biflationary theory

Wed, 12/12/2012 - 14:27 | Link to Comment TheSilverJournal
TheSilverJournal's picture

When inflation gets a little hot, real Treasury yields become even more negative making Treasuries an even worse investment, causing a flow out of Treasuries and forcing even more printing in order to keep yields low, and therefore causing even more inflation, even greater negative real rates, even more pressure to escape Treasuries, and the need to print even more in order to keep yields low. Crackup boom theory.

Wed, 12/12/2012 - 14:20 | Link to Comment phalfa5
phalfa5's picture

stop the "adjustments" from the B L S ....

 unemployment rate back up....    until the next general election when there will be >some< improvement

Wed, 12/12/2012 - 14:27 | Link to Comment tickhound
tickhound's picture

 

 

"Quick, someone here tell me, how do we keep the unemployment numbers up?"

1.  Provide more "honest" employment #'s

2.  Squash some unions

3.  Outsource

4.  AUTOMATE

5.  Provide incentives for banks (JPM) to benefit from welfare (EBT)

6.  Begin a media blitz to convince the public machines are gooooood.

7.  Can't wait to find out what #7 is....

Wed, 12/12/2012 - 13:37 | Link to Comment smlbizman
smlbizman's picture

did anybody catch lies man say this morning that the fed will be printing money....

Wed, 12/12/2012 - 13:40 | Link to Comment Alpo for Granny
Alpo for Granny's picture

I hope someone changed the toner and adjusted the belts on the Binford 9000XL.

Wed, 12/12/2012 - 13:58 | Link to Comment pods
pods's picture

Need MOAR power!

 

Wed, 12/12/2012 - 13:50 | Link to Comment Alpo for Granny
Alpo for Granny's picture

Whew..glad I listened to Goldman and sold off all my phyzz yesterday....

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PSYCH!

Wed, 12/12/2012 - 13:37 | Link to Comment nope-1004
nope-1004's picture

Endgame right on course.  No turning back now.  Gold and silver "managed" during Fed release..... soooooo obvious.

 

Wed, 12/12/2012 - 13:41 | Link to Comment Bubble
Bubble's picture

gold futures must go no higher than 1720 clearly the order

Wed, 12/12/2012 - 14:15 | Link to Comment fockewulf190
fockewulf190's picture

All we gotta do now is ramp up that birth-death ratio so fucking high that we  end up with a 40% participation rate and our golden 6.5% unemployment goal will be reached.  Keep stacking for all your worth!

Wed, 12/12/2012 - 14:52 | Link to Comment cougar_w
cougar_w's picture

End-game it is, and I did say they would print like mo'fo's.

I also said nobody would care.

We are seeing that latter play out now.

There are no brakes on this run-away train. It ends when it goes off the rails. Last car to the bottom of the ravine wins.

Wed, 12/12/2012 - 13:44 | Link to Comment Conman
Conman's picture

delete

Wed, 12/12/2012 - 13:34 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold, bitchez

Wed, 12/12/2012 - 13:41 | Link to Comment tocointhephrase
tocointhephrase's picture

SILVER BiTcHeZ

Wed, 12/12/2012 - 13:44 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Bitchez, Bitchez

Wed, 12/12/2012 - 15:05 | Link to Comment XitSam
XitSam's picture

I can't figure out why no one has yet claimed the handle of "Bitchez".

Wed, 12/12/2012 - 13:34 | Link to Comment asteroids
asteroids's picture

The "crisis" continues 4 years after the FED started with no end in sight. Now, they are outright monetizing the debt. What a pathetic failure QE has been.

Wed, 12/12/2012 - 13:59 | Link to Comment pods
pods's picture

If you see QE as a failure, you are using the wrong assumptions.

(I wasn't the idiot who dinged you)

pods

Wed, 12/12/2012 - 14:10 | Link to Comment nope-1004
nope-1004's picture

Agree.  It's obvious that we have higher inflation than what the Fed will admit to, so isn't it safe to assume that they are lying about their unemployment mandate?  QE is the cover for worldwide theft - the Fed could give a shit about unemployment.  QE is an economic failure, for sure, but it is sold to the masses as "boost our economy and lower unemployment", the mask for continued theft.

And I didn't ding u either.

 

Wed, 12/12/2012 - 14:09 | Link to Comment EscapeKey
EscapeKey's picture

No, you are clearly wrong. I know this, because the one man who predicted the housing bubble and acted in a responsible manner in its regards says so:

 

Ben Bernanke Says Federal Reserve Is Not Monetizing The Debt
http://247wallst.com/2012/10/01/ben-bernanke-says-federal-reserve-is-not...

Wed, 12/12/2012 - 14:57 | Link to Comment cougar_w
cougar_w's picture

QEn has done exactly what it was supposed to do, which was to maintain the impression that everything in the world is fine.

QEn was never intended to fix anything so the fact that it did not is not interesting.

This will continue as long as the fairy tale economy can float along, once that no longer is the case they will come up with something even bigger. In fact they might even do the helicopter trick and drop paper fiat out of the sky. Whatever it takes.

Wed, 12/12/2012 - 20:09 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

"What a pathetic failure QE has been."

 

Ya..for us....

For the bankers collecting interest off all the money printed...

Not so much a failure....

 

.....................*** "The Rothschilds smile"     ;0)

Wed, 12/12/2012 - 13:34 | Link to Comment NotApplicable
NotApplicable's picture

We're gonna need a bigger printer!

Wed, 12/12/2012 - 13:42 | Link to Comment tocointhephrase
tocointhephrase's picture

Save the rain forest!

Wed, 12/12/2012 - 13:46 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Nah, no worries about the environment. All Ben needs to do is put a woodpecker on the zero key on his computer keyboard.

Wed, 12/12/2012 - 13:51 | Link to Comment The Gooch
The Gooch's picture

Ben "Zeropecker" Bernanke.

I like it.

Wed, 12/12/2012 - 14:13 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Finally I witness the birth of a ZH meme.  It's taken months to reach this day. 

Can Ben put a little bell over the woodpecker's head, so that we can hear dingdingdingding as he prints 0's?

Wed, 12/12/2012 - 14:24 | Link to Comment inevitablecollapse
inevitablecollapse's picture

fun fact - fast counters can count to 200 in a minute. That puts them at 1,200 in an hour. At this rate, it would take over 9,500 years to count to a trillion :: funny how we can do it in a less manual manner in <365 days

Wed, 12/12/2012 - 13:34 | Link to Comment apberusdisvet
apberusdisvet's picture

Just more sanitizing of bankster fraud in the MBS market.  Abra Cadabra, and they're gone!!!!

Wed, 12/12/2012 - 13:42 | Link to Comment youngman
youngman's picture

They are now moving it over to car loans and student loans....pretty soon 95% of our economy will be loans....debt..no one will have a "job"...they will just get another loan to live on...

Wed, 12/12/2012 - 14:02 | Link to Comment centerline
centerline's picture

Then they can do away with our current currency and we can start using loans as currency.  lol.

Wed, 12/12/2012 - 14:12 | Link to Comment tickhound
tickhound's picture

LOL... Pretty much the same fucking thing. 

Also, looks like AUTOMATION is to become the BFF of ZIRP. 

Wed, 12/12/2012 - 14:16 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Structure loans as a 'lifetime loan' with only one balloon payment when you die. Then the banks offload it onto the next generation through the Fed!

Wed, 12/12/2012 - 15:39 | Link to Comment Esso
Esso's picture

It's becoming clear that the goobermunt is going to have to impose some strict, new ZeroHedge control laws.

They can't allow all this thinking to go on willy-nilly like this.

It might wake up the slumbering sheepsters.

Wed, 12/12/2012 - 13:37 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

Fed Rates tied to Unemployment Rate.

Add that constraint to your models, bitchez!

 

Or to the orbit of Venus.  Either one.

Wed, 12/12/2012 - 13:47 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

More like UrAnus.

Wed, 12/12/2012 - 13:40 | Link to Comment SheepDog-One
SheepDog-One's picture

GOOD NEWS everyone! Economy imploding while they ramp up obvious failure QE! Good News Everyone! - YouTube

Wed, 12/12/2012 - 13:35 | Link to Comment AllThatGlitters
AllThatGlitters's picture

Gold and Silver Popping Higher Out of the Gate -

 

Live Spot Gold:  http://www.pmbull.com/gold-price/

Live Spot Silver: http://www.pmbull.com/silver-price/

 

Do they continue, or reverse?

Wed, 12/12/2012 - 13:35 | Link to Comment Non Passaran
Non Passaran's picture

Gold is hesitating while silver seems to responding better, at least initially.... Makes sense.

OK, maybe this is good time to sell the few copper miner stocks I have...

Wed, 12/12/2012 - 13:37 | Link to Comment Al Huxley
Al Huxley's picture

Maybe gold had 'already priced in' unending, infinite monetization of unredeemable US and European debt LOL.

Wed, 12/12/2012 - 13:37 | Link to Comment Sutton
Sutton's picture

The Hyper is coming........

Wed, 12/12/2012 - 13:46 | Link to Comment 1100-TACTICAL-12
1100-TACTICAL-12's picture

" If we make through December, everyrhing gonna be alright I know" (Merle Haggard)

Wed, 12/12/2012 - 15:02 | Link to Comment cougar_w
cougar_w's picture

I wouldn't count on it. I haven't given a lot of analysis to the question, but I think they might have an angle. They are setting something up. And it's gonna be huge.

Wed, 12/12/2012 - 13:37 | Link to Comment A_MacLaren
A_MacLaren's picture

ZIRP 4Ever

Wed, 12/12/2012 - 13:45 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Until NIRP 4Eva

Wed, 12/12/2012 - 13:37 | Link to Comment Bubble
Bubble's picture

shocking lack of movement in the mkts on more fiat devaluation

Wed, 12/12/2012 - 13:37 | Link to Comment swanpoint
swanpoint's picture

Bloomberg, says "QEInfinity"

Wed, 12/12/2012 - 13:37 | Link to Comment scatterbrains
scatterbrains's picture

Awesome so can we go over the cliff now ?

Wed, 12/12/2012 - 13:42 | Link to Comment SheepDog-One
SheepDog-One's picture

Yep! We got the new FED spinner hubs on, so time to drive this hoopdie over the cliff!

Wed, 12/12/2012 - 15:04 | Link to Comment cougar_w
cougar_w's picture

+1 lol

Wed, 12/12/2012 - 13:38 | Link to Comment moskov
moskov's picture

I wonder why didn't the Benake replace Washington with his own portrait on the dollar bill

Wed, 12/12/2012 - 13:43 | Link to Comment Alpo for Granny
Alpo for Granny's picture

 

Because it is going to go on the $1,000,000,000,000 bill.

Wed, 12/12/2012 - 13:53 | Link to Comment TruthInSunshine
Wed, 12/12/2012 - 14:10 | Link to Comment No Euros please...
No Euros please we&#039;re British's picture

Will that be like a Zim $1,000,000,000,000 bill?

Wed, 12/12/2012 - 16:12 | Link to Comment IrritableBowels
IrritableBowels's picture

Try 100,000,000,000,000.

Wed, 12/12/2012 - 16:37 | Link to Comment Overfed
Overfed's picture

I've got one of those. Paid $3 for it, half of which was for postage. How's that for a little perspective?

Wed, 12/12/2012 - 13:39 | Link to Comment Raymond K Hessel
Raymond K Hessel's picture

Extrapolate the unemployment rate to 6.5%.... is that 2015?

Wed, 12/12/2012 - 13:38 | Link to Comment Toolshed
Toolshed's picture

I was thinking gold and silver would dip in early 2013 and I would buy more then. However, now that dip may be relatively insignificant I fear. Anyone have thoughts on this?

Wed, 12/12/2012 - 13:40 | Link to Comment RobotTrader
RobotTrader's picture

Is the official "Pie-Hole" statement out already???

Wed, 12/12/2012 - 13:51 | Link to Comment catacl1sm
catacl1sm's picture

Boy, they're just letting anybody back on here.

Wed, 12/12/2012 - 13:54 | Link to Comment fuu
fuu's picture

Election is over, no more pac money flowing into ads.

Wed, 12/12/2012 - 14:00 | Link to Comment catacl1sm
catacl1sm's picture

I don't follow the logic on that.

Wed, 12/12/2012 - 15:35 | Link to Comment fuu
fuu's picture

All the click bait posters are back this week, and all the slimey partisan articles have stopped.

Wed, 12/12/2012 - 13:39 | Link to Comment mpyre
mpyre's picture

300, 400 trillion in total unfunded debt only a few years away!!!

Wed, 12/12/2012 - 13:40 | Link to Comment mademesmile
mademesmile's picture

Long helicopters and nets.

Wed, 12/12/2012 - 13:41 | Link to Comment CashIsTrash
CashIsTrash's picture

I hope Bernanke hit his thumb as he drove the final nail in the coffin for the dollar!!! Fuck You Ben!!

Wed, 12/12/2012 - 13:41 | Link to Comment adr
adr's picture

But I was told for the last four years that the economy was getting better. The stock market soared on expecations that the economy was getting better. Yet, Ben just pretty much said the economy hasn't got any better and is actually looking worse, so it needs more QE.

AAAANNND this is seen as bullish?

I think CNBC needs to stop cheerleading the fake market and just come out and say the Fed is printing bonuses for Dimon and Blankfein and the sheeple have to eat it.

Wed, 12/12/2012 - 13:44 | Link to Comment SheepDog-One
SheepDog-One's picture

Everyones got their hockey helmets strapped on tight here in full-retardville. YAY!!

Wed, 12/12/2012 - 14:13 | Link to Comment TN Jed
TN Jed's picture

Is that you Special Ed?  I got mail!  I got mail!  I got mail!  Yaaaaaaaaaaaaaaaaay!
http://youtu.be/4Gj8bin3vlQ

Wed, 12/12/2012 - 13:41 | Link to Comment Conman
Conman's picture

The circle jerk has arrived. For housing to improve fed lowers rates. Now that rates are zero forver housing deamnd will do down. Unemploy will stay high becuase housing doesnt bubble. Rates stay low beucase unemploy high. Circle jerk continues.

P.S. Heres where the muppets get skewered again. For the 80millionth time, dump coming .

Wed, 12/12/2012 - 13:42 | Link to Comment q99x2
q99x2's picture

That seals the deal. Semester is over this week. Have to go out next week and see what kind of new car my government funding will get me. Bernanke Bucks for everyone. Partyyyeee!

Wed, 12/12/2012 - 13:43 | Link to Comment Iam Yue2
Iam Yue2's picture

Didn't Bill Gross tells us all that  "Global central bank monetary policy is now geared to keeping nominal GDP close to historical levels."

Wed, 12/12/2012 - 13:45 | Link to Comment kahunabear
kahunabear's picture

Damn the torpedos! Buy buy buy! Free money for all!

Shocking news, just shocking. Who'd a thunk?

Wed, 12/12/2012 - 13:43 | Link to Comment GernB
GernB's picture

When QEternity just isn't enough.

Wed, 12/12/2012 - 13:44 | Link to Comment SheepDog-One
SheepDog-One's picture

Double-secret QEternityx2 next?

Wed, 12/12/2012 - 13:46 | Link to Comment q99x2
q99x2's picture

Nasdaq + 3 points on the news. Something doesn't seem right.

Wed, 12/12/2012 - 13:47 | Link to Comment scatterbrains
scatterbrains's picture

the more he prints the more fuel prices rise, the faster they need to bomb Iran or anyone else with any natural resources that wont do business with his magic money lol.  I'm looking forward to improved employment on the back of $6 dollar gas bitchezz !

Wed, 12/12/2012 - 13:46 | Link to Comment 1835jackson
1835jackson's picture

It's the hard knock life for us....

 

http://www.youtube.com/watch?v=6QhCHcyJh-I

 

Wed, 12/12/2012 - 13:46 | Link to Comment youngman
youngman's picture

I am just thinking of the South Koreans and how to they read this....?????  Or some other smaller export country....I would say they are not going to be having to many dollars hanging around for too long....spend em fast..or not even take them in for payment if they can.....might be hard now...but in the future I bet there are new curriencies to use for trade....I think in the next 6 months one is introduced to the world.....

Wed, 12/12/2012 - 13:48 | Link to Comment Anasteus
Anasteus's picture

Benny forgot to add that additional $45 billion per month will be necessary for managing gold and silver prices lower at interest rate -100% per month.

Wed, 12/12/2012 - 13:48 | Link to Comment phoolish
phoolish's picture

No such thing as "sterilization" anyway.  Just some more confusion that was sowed.

Wed, 12/12/2012 - 13:48 | Link to Comment nobusiness
nobusiness's picture

Banks can now fire entire non-machine staff and guarantee low rates forever.

Wed, 12/12/2012 - 16:03 | Link to Comment Esso
Esso's picture

Will bank robbers be eligible for 99 weeks of unemployment once they can no longer screw a gun into a teller's ear?

Wed, 12/12/2012 - 13:48 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Gravity... no longer defied?

Wed, 12/12/2012 - 13:51 | Link to Comment Quinvarius
Quinvarius's picture

Many of you are probably going to try and outsmart this.  Buy a bodybag before you jump in front of this train.  There is nothing to outsmart.  It is what it is.

Wed, 12/12/2012 - 13:53 | Link to Comment rqb1
rqb1's picture

You are right, you can not outsmart the ones making the rules as they go.

Wed, 12/12/2012 - 14:09 | Link to Comment SheepDog-One
SheepDog-One's picture

Right, now that they've got full monetization in place and everyone certain that the only place to go is up from here, they'll probably drop markets 20% right when everyone went long and clean them out too. No one really knows except for a handful of people.

Wed, 12/12/2012 - 13:51 | Link to Comment phoolish
phoolish's picture

Hey, there are Trillion Dollar Pt coins advertise for sale.  What does that mean?

Wed, 12/12/2012 - 13:51 | Link to Comment 1fortheroad
1fortheroad's picture

Hammer and Nails meet coffin.

 

 

Let me issue and control a nation's money and I care not who writes the laws.

Wed, 12/12/2012 - 13:53 | Link to Comment Darth Mul
Darth Mul's picture

Honestly - why can't the Fed simply,  for example, simply pay for medicare for everyone rather than buying bonds and giving money to Goldman Sachs?

 

I'm asking earnestly.  You see, over at Dr. Krugman's blog today, I'm reading comments, and apparently being "serious" about basic math {if I have $5 and want something costing $10....} is bad, m'kay.

http://krugman.blogs.nytimes.com/2012/12/12/the-yes-minister-theory-of-the-medicare-age/

 

In all seriousness, since stimulus is not only good but necessary, and since Krugman and his disciples identify anyone criticizing Medicaid/Medicare's sustainability {math} or fairness {ethics} is merely a "right winger" devoid of intellect or heart...  why not simply print money and expand medicare to cover everyone?

 

I'm really asking, by the way.  Why not "stimulate" the entitlement programs ad infinitum since, apparently, Keynesian and statist thinking can't be challenged...  isn't taking the Krugman world view to its logical conclusion lead one to believe that we can just print and give everyone [or at least the old and poor if not the working poor young] sunshine, puppy dogs, and free ice cream forever>?

 

We can hire armies fo the unemployed to fill out the paper work, can't we? 

 

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