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At Least They Are Finally Honest... Again
It seems the truthiness is growing louder in Washington:
- *DALLAS FED'S FISHER FED HAS BEEN `SOURCE OF FUEL' FOR RECOVERY
Once again, there you have it, as we noted here, the admission that indeed it is the Fed that has been the visible hand. Fisher went on to note:
- *DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING
- *DALLAS FED'S FISHER SAYS FISCAL AUTHORITIES HAVE CREATED 'FOG'
Fog, smoke, and mirrors... perhaps those tin-foil-hat wearing digital dickweeds were on to something?
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As a one of those digital dickweeds, the preferred nomenclature by the dicwads at the FBI is sovereign-citizen extremist.
It's a TRAP!!!!
Because of TARP. See what I did there?
Indeed I do, Dick Head.
Meanwhile back at the outhouse things are beginning to pile up...
John (Print till the cows... errr... JOBS come home) Williams president of the San Francisco Fed and one of the central bank's more dovish members, highlighted the stubbornly high jobless rate as he called for continued bond purchases on Thursday.
"The Fed's dual mandate from Congress is to pursue maximum employment and price stability. We are missing on both of these goals," Williams said in an address at The Forecasters Club in New York. "Unemployment is far too high and inflation is too low.
Right, so lets keep doing the same thing we've been doing. Doing the same thing over and over and expecting different results is the definition of stupidity.
You know who's honest?
My poor old mother.
She's a wonderful old gal.
http://www.angrysinner.blogspot.kr/2013/02/thursday_28.html
drone him...
I laughed at this more than I should have.
+1
"Drrrrone hiiiim..." LOL
I was already laughing hard about the word "recovery" in Fisher's statement, but "drone him" beats it all...
"Don't drrrone me Bro!"
"How many drrrones does it take to fsck up a wedding?"
"Ben Dover and give me a drrrone job..."
The possibilities are endless! :>D
"Bailiff! Drone his pee-pee!"
don't drone me bro.....
Yawn..GS told Fisher to say this so that GS can BTFD.
They forgot this one:
*DALLAS FED'S FISHER FED HAS BEEN `SOURCE OF FUEL' FOR SILVER MANIPULATION
The Pilgrim Society..err..I meant the Dinner Club
Tin-foil-hat wearing digital dickweed reporting in.
After this blip of reason from the mouth of the Fed, I'll be able to afford myself a Gold-foil hat.
Thank you, Fed -- should be worth about 50 pips on the EURUSD, once we ram through those stops below 1.3050. LOL
DALLAS FED'S FISHER TO SOON BE OUT OF JOB.
Kevin Warsh Redux?
No worries for Fisher. He was assigned the task of placing a hint to the market that succulent bones may be thrown less often in the months ahead. Its all rigged and all planned. We are the peons trying to follow the bread crumb trail.
DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING
Unpossible. They cannot stop because it will crush the only remaining sign that this "weekend at Bernie's" economy has a pulse - the levitated stock market.
Prrrrrecisely.
*DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING
*FED CHAIRMAN BERNANKE SAYS "FISHER'S MASTER OF DEADPAN SARCASM, FOMC CAN'T STOP LAUGHING, NEEDS NEW KEYBOARDS"
Stop buying those bonds Ben, watch what happens to yields - watch debt servicing costs go supernova faster than you can blink.
"We're not monetizing the debt" ... Prove it!
Fisher might as well have said "It's time for the FOMC to pull the trigger of the loaded gun it is holding to America's head".
That crusty old USD been calling out these cocksucker scam artists for several weeks now. But, but, but the USD was gonna plunge I was told. Metals been calling them out as well. If all the CBs ease, are any of them actually easing?
Expect more of this in the coming days/weeks.
Bernanke is getting too much heat for raging energy/gasoline/food/everything-but-delicious-iPad prices as he is daring people NOT to pour fresh fed fiat into just about any and every commodity, "stawk," piece of terra firma, stamp collection, classic Ford Pinto, grilled cheese sandwich that resembles the Virgin Mary auctioned off on eBay....
There will be staged back-and-forth drama and Kabuki speak between fed officials to try and thread the needle and tamp down fat fiat injections creating even more irrational (correlated with Bernanke's irrational "Virtuously Circular" monetary policy) moves upwards in everyassetclassimaginable.
It's called "Strategy to Jawbone Suicidal, FUBAR'D, Bernank'd 'Markets' Down From the Ledge."
We should all, and especially "investors" who are positioned long, at least be thankful that there's not much leverage in these markets. /s
The climactic scene in what is now a four year drama about the economic death of the US is fast approaching. The battle royal between DC and Wall Street blame game is now full on. And the Fed, as moderator, just blew its cred...based on the testimony of one B. Bernanke this week.
Yeah...now what is that catalyst that's going to take "stawks" higher than all time highs again?
Could it be possible that the typical sheeple realizes that an increase in the supply of digital fiatski as reflected on the balance sheets of banks & financial institutions, the ability of these same entities to absolutely mark their assets & liabilities to nearly whatever they desire due to the even-more-farcical-than-before FASB, a notional 4 year high on equity "market" indexes, and relentlessly manipulated statistical mis-reporting of key economic indicators has done nothing to improve, and more often than not, helped worsen their particular economic & financial circumstances since 2009 (as many of them have climbed into record debt, despite fictions of "beautiful deleveraging")?
yes
No because they don't what any of that is or means.
IOW, they're just as incoherent as yer comment! :>D
I just had a bulk of 2,500 sf homes in Detroit cross my desk....I was thinking $2,500 was a fair offer for them all...not each but $1 per home
Negotiate until you get them for free. Who gives a fuck about the outstanding mortgages on them. Already sliced and diced and either sold to Bernanke or waiting in line to be sold to Bernanke.
DALLAS FED'S FISHER SAYS WATER IS WET, SKY IS BLUE, AND PROTONS ARE CATHOLIC
Yeah like they gonna do it... kaboooooooooom if they do.
The recovery is just now starting to take hold and Fisher thinks they should end the purchase program?
There is still more to be done!
Fog, smoke, and mirrors...
or as GOB would say
"This is my least consistent trick."
http://www.youtube.com/watch?v=wB-1-pVnMmo
You mean MOAR...
48M Americans on foodstamps. Which recovery are you referring to?
Krugman : deficits don't matter!
Tomorrow might be a cliff dive.
Fisher talks a big game but when it's time to vote, he looks at Ben, Janet and Dudley and votes with them
You got it...he is only there to lend some credibility to this cabal known as the Federal Reserve.
Reserve??? Reserve of what????????
Debt, think reservoir, and a damn, that is very close to the high water mark....
Dubpost
he does NOT currently have a vote.
*DALLAS FED'S FISHER FED HAS BEEN `SOURCE OF FUEL' FOR RECOVERY
Yes the first bit is true but the second about recovery.. isn't... there hasn't been a recovery, it is still a depression
He meant "recovery" in terms of bankster gangster offshore tax-haven accounts.
Ah true yes, my mistake, the forked tongue double speak of the bankster
Another asshat mistaking inflation for recovery. But Joe ain't got no dough don't you know.
"Please sit tight while I walk you through the math of Medicare. As you may know, the program comes in three parts: Medicare Part A, which covers hospital stays; Medicare B, which covers doctor visits; and Medicare D, the drug benefit that went into effect just 29 months ago. The infinite-horizon present discounted value of the unfunded liability for Medicare A is $34.4 trillion. The unfunded liability of Medicare B is an additional $34 trillion. The shortfall for Medicare D adds another $17.2 trillion. The total? If you wanted to cover the unfunded liability of all three programs today, you would be stuck with an $85.6 trillion bill. That is more than six times as large as the bill for Social Security. It is more than six times the annual output of the entire U.S. economy."
"Let’s say you and I and Bruce Ericson and every U.S. citizen who is alive today decided to fully address this unfunded liability through lump-sum payments from our own pocketbooks, so that all of us and all future generations could be secure in the knowledge that we and they would receive promised benefits in perpetuity. How much would we have to pay if we split the tab? Again, the math is painful. With a total population of 304 million, from infants to the elderly, the per-person payment to the federal treasury would come to $330,000. This comes to $1.3 million per family of four—over 25 times the average household’s income."
Speech by Richard Fisher in 2008 before the Commonwealth Club of California. Today total US debt is $139 trillion. The per person payment today is $438,000, up from the $330,000 in 2008.
http://www.dallasfed.org/news/speeches/fisher/2008/fs080528.cfm
DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING 2 DAYS AFTER OBAMA LEAVES OFFICE TO BLAME IT ON THE NEXT PERSON FOR RUINING SUCH A BEAUTIFUL ECONOMY
The long overdue and long awaited phase of our economic collapse where loss of faith in the Federal Reserve Bank is now on tap.
As I have been saying, Bernanke's two day testimony on The Hill this week was nothing short of a complete disaster. And as such, dissent within the FOMC will now take on a shocking and suddenly changed dimension.
Furthermore, and after this two month detour into the criminal syndicate's HFT computerized equity greed, we are now back on track for the blame game to accelerate between the primary corrupt players in this entirely pathetic drama playing out, namely DC and Wall Street.
DC briefly sidestepped Wall Street's first attempt to lay blame for the economic disaster that the US is just now when it passed on that whole fiscal cliff thing. However, with almost no more room to maneuver before our debt is downgraded yet again, you can expect that the sequestration will have a real public effect [if not economic] as Wall Street puts the blame on politicians, for our weak economy and soon to be falling markets.
And while Wall Street may well be successful in this phase, it is the Federal Reserve that, I suspect, will take the greatest hit in credibility...again, with the HH testimony so fresh in people's memories.
I am actually still quite shocked by the things Ben Bernanke said outright during his testimony, especially while in front of the Senate.
Here it all comes.....
I hear ya. Not sure we are there just yet. I initially felt QE4EVA would do this because it was such a glaring admission of sheer desperation and that we are totally fucked but asset managers chasing and the PDs have managed to hold it together.
I think we need to see a PD go under and then the house of cards falls apart. Most of this is PDs swapping spit with each other. Jesus christ, how many times can you pass back and forth the same hooker? Gotta be working up a real nasty stench by now.
I don't necessarily disagree with you...other than to say that you don't need a PD to go under. All you really need, in this ridiculously thin tape, is for one to sell. One. From there, algorithms, looking to their left and to their right, will figure out...they are the greater fools. That's all you need.
My guess is that HFT probably represents 90% plus of all trades you are seeing. That is a very large herd of lemmings...each of them thinking they can use leverage to pull down a six figure gain in 15 minutes. Until..........
There would be less fog if you just put the crack pipes down.
Fisher: Stock levels not justified by fundamentals
Now? Now Fisher wants to talk about the "Fog"? Yeah, there's a fucking fog around here. The fog of fascist FRB-induced crony capitalism. My advice to Fisher et al? Put one finger in a glass of water and stick your dick in the hotel socket.
You made me LOL here @ work.
I had to have sounded crazy. Eh, whatever. So I might be?
I pay attention to real reality too much.
@Tsar Pointless
Thx. Glad to be of some value to someone today. I'm no fonzanoon, but....maybe you can use the rest of your productive working hours to cropdust some unsuspecting colleagues....
Better yet grab copper water pipe and then put dick in socket. Glass of water not connected to anything but Assholes finger.
as a proud tin-foil-hat wearing digital dickweed i can assure you we have been on to something for a long time and it ain't pretty.....fisher is certified dickwad and i won't even go into what the chairsatan is.
"DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING". Yeah right, that time ended long ago, you need the constant flow or you're f'k, so cut the bullsh!t.
Another green shoot:
About 17% (or 6.7 million) of the 39 million student loan borrowers were more than 90 days past due on their debt in 2012, a significant increase from 2004 when less than 10% of borrowers were delinquent. Those between 30 and 49 years old had the highest delinquency rates.
Donghoon Lee, senior economist at the New York Fed, said that if you include those borrowers who are neither delinquent nor in repayment yet (because they’re either in deferment, forbearance, or in an income-based payment plan), the effective number of those 90 days delinquent would actually come to 30%.
Oh, and how about subprime car loans, mortgages guaranteed by FHA, etc etc etc.............
Saying stuff like these, and the fact that he does not have PhD, is the reason why Fisher will never get the seat as the chairman.
i'm a tin-foil-hat wearing digital dickweed!
Tarns out them damn green shoots they been nurturin' aint nothin' but sand burrs & digital dickweeds.
You mean the fuel was solely provided by the Fed, and not from those elusive corporate earnings?
I cannot in good faith acknowledge such falsehoods.
The Fed is locked in a dance of death with the stock market, now they want to break it off? Too late.
Funny they used the word "fog", Hmm, because behind that fog is a freight train of reality and now they see it too.
http://youtu.be/x5m1A7zoIcc
Tasty.
Yawn,
Throw another economist on the BBQ will you please.
Yawn,
Throw another economist on the BBQ will you please.
No dickweed here...dick yes, weed yes,..
Hot air. Let's see him dissent next board meeting.
Yes. Tell me all about how credit based money can survive a bond bubble collapse during a recession. Tell me how you are going to stop funding the US government as you have been for the past 50 years. Tell me all about it. Lets get right down to the bond collapse and hyperinflation as the Keynesian inflationary reservoir known as the bond market cracks a gusher.
Here is a better idea. Stop talking. You have one way out of this and everyone knows it. You have to spread out the gold, and run it up before you can do anything else. But, I don't think your brain has quite comprehended that yet. SO you just sit back and pretend bitcoin didn't just kick your ass.
*DALLAS FED'S FISHER SAYS IT'S TIME TO TAPER OFF BOND-BUYING
Who will buy them Mr Fisher? I can answer this simple question, no one unless the rates are over 10% where they belong due to the risk of defaut.
Keep going Fed, our bona-fide doomsday machine, from wires:
*Fed's Evans signs QE was working and inflation wasn't a problem
And just look what you have inspired in Mexico truly a work of art:
Drug cartels now into commodities: http://www.energytribune.com/74132/mexicos-zetas-gang-joins-coal-mining-...
Keynesian lunacy for all.
Well, diversification workz for traders (illegal or not)! :>D
Putting this out after Bernanke promised no end to QE for at least 2 or 3 years is a joke. Clearly, they want the market to forget what Bernanke said only 1 day ago re QE to infinity. Sequestration of $85Billion (eg one month's QE) will have no meaningful effect on the printing presses, only on government jobs market. I think it's now time for me to load up on gold, silver and mining shares. I bought at $900 and now I think we're at another inflection point. The end of the US fiat hegemony is fast approaching and I won't be missing this train.