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Fed Holds The Course, Prepared To "Increase Or Reduce Purchases" - Full Redline Comparison
With the equity market dropping rather notedly into the release of the FOMC decision, chatter was that the 'early release' button had been hit, but...
- *FED SAYS LABOR MARKET HAS SHOWN SOME IMPROVEMENT
- *FED SEES `DOWNSIDE RISKS' TO ECONOMIC OUTLOOK
- *FED SAYS IT'S `PREPARED TO INCREASE OR REDUCE' PURCHASES
Which suggests some management of expectations... but more of the same and no big surprise. The only real difference from the March statement, as shown below, is the following sentence added in the fourth paragraph:
The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes.
Market stance pre: ES 1582, 10Y 1.62%, Gold, $1450, WTI $90.65, EUR 1.3200
Since the close of the last FOMC decision, the US long bond has gained 4.5% and is the big winner, with the S&P up only 1.8% (and gold and silver the biggest losers)...
Full redline below:
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With internet sales tax coming everyone should to know
States without sales tax on gold or silver:
http://thecoinologist.com/sales-tax-state-by-state-breakdown/
Well that's a long way to say nothing. "Fed may Increase or Decrease purchases" - LOL
Same fuckin shit. Of course whenever that jbag speaks, the markets shoot higher.
"" We may or may not fart in your face...that is all"""
Who is Esther George??? I dont know much about her but I like her more than J-Bitch Yellen already!
My committee is prepared to increase or increase even more the pace of its silver purchases to maintain appropriate counter-fed policy protection as the fed's perception of the labor market or inflation changes
I say we exempt Esther George from being stood up against the wall when this whole thing blows up.
"We may punt or throw a Hail Mary pass.
Either way you look at it, you lose."
Art Garfunkle for Chairsatan ...
Actually, it is brilliantly worded as "the market" will take either action as good news and that is all the fuck that matters - ever. DOW 2000 bitchez! Heading for a green close!
DOW 2000. Now that would be exciting.
Fed states may increase or decrease purchases based on UE / inflation...
States inflation too low and UE too high. Fed just met it's criteria to increase
You do the math!!!
QE4EVERER coming up.
The face fart is coming, rest assured.
** FED, 'WE'RE ATE UP WITH THE DUMBASS'.
It's QE4ever. They can never end it, and they know it.
You know that. I know that. Anybody who has a basic understanding of the US Budget knows that.
But Becky, Joe, Sorkin, Maria, and the rest of the CNBC crew doesnt and i'd like to keep it that way because I love the drama. Now somebody get me Steve Liesman I want to hear about the economic recovery as demonstrated by Porsche and Gucci sales...
Tyler showed this past weekend how completely screwed we are:
http://www.zerohedge.com/news/2013-04-28/how-fed-holds-2-trillion-and-ri...
No escape, bitchez.
Is this langauge launching QE 5 or 6? I've lost count.
Launching is all you have to remember.
That's correct. They should have said we cannot stop. That would have rocketed equities.
"Who else would buy the US debt"
Would throw a bit of gasoline into the equity fire.
Algos look confused, volatility rolling over though....
Look at the fuckin EUR....wow this thing is getting multiple hard-ons in a minute
I just tried to sell my physical gold to the comex because with the whole increase/decrease thing they could go either way. I mean what happens if they decrease? I'm screwed.
comex refused my delivery because they felt the same way. So annoying.
"Increase or decrease", LOL.
They didn't mention "stay the same", which almost certainly means that's exactly what they'll do.
clearly all word games. they wanted to state their bias to increase QE but to appear even-handed they added the word reduce. given elevated UR and below target inflation and stable inflation expectations- the finger is on the trigger to do more QE. this friday they will get their additional justification for more QE. NFPs buddy ;) . care to guess the headline level?
Well, Steve LIESman said its all good...
so the rest of you assholes shut up...
now, having waited around for for the jawbone communique its off to my Silver dealer...
FUCK OFF BERNANKE.........
This is a popular idea, but not sure it's true. We see how the majority of traders believe what the FED spews, so if the FED says the economy is good, going to slowly raise rates they'll buy it. FED might be able to weasle out, but it would take 20 years.
Gotta tame that shock when they increase and throw the decrease clause in there for the gullible goobers that glorify government and can't see that the world's monetary system is a fiat ponzi.
there was a word I don't recognize...."reduce"....what does that mean?
That word is only used in conjunction with a discussion about the amount of individual liberty the gubmint thinks "the people" should have.
No matter the word....they all can be defined as MOAR!
BULLISH!!
That's like saying, I'm prepared to take a dump, but I'm also prepared to wait a while.
Like when I'm at the bus station.
You just have to know the code. Increase or decrease is not the same as decrease or increase for example. Oh you don't have the decoder script? Did you forget your campaign contribution again?
No one here actually believes he would reduce do they?
The UST side of the equation, absolutely not, they'll actually probably have to increase this. The MBS side, however, I could see them stopping or even actively selling their MBS book. There has been a ton of foreign money flows towards snapping up US property. Think through what a fucking evil trap they just set up here. They could achieve:
1. A reduction in the rate of increase of the Fed balance sheet.
2. An increase in UST propping.
3. Another housing market crash to wipe out weak hands and especially foreign money.
Particularly in an era where the move away from the dollar is accelerating, this could be one last big "king dollar" push.
Once again, the fed says..............nothing
f'in cowards! Blind, clueless, bumbling idiots.
IOW, the Fed stands ready to do some stuff. Maybe.
The Fed will not start tapering asset purchases until (earliest) 1Q 2014.
Good for one more big bull run in commodities.
It won't be taxed from where it's shipped but where it's delivered. That's why small businesses would be up a creek because they would have to comply with 49 other state tax laws.
Increase or reduce.
"We'll rape you with inflation or sudden economic collapse. Either way, we'll rape you!"
Release the Kracken:
http://www.youtube.com/watch?v=spfpSIyt4qc
FED ready to apply 220....221....whatever it takes.
It's days like this where I really miss my Woobie. And Ann Jillian's tits...
I was only 5 when I first saw Mr. Mom, but I knew there was something special about boobs. And I didn't think anyone remembered the Woobie. That's what I call our cat's favorite toy.
"It's a Living" helped me get through puberty.
What are you doing in there? I'm going blind!
Lets go Benny, shit or get off the pot.
I hope that's a pressure cooker he's sitting on...
IcebergNanke...nothing will change his course.
LMFAO! As many around here have been predicting, the 85 billion becomes 120 billion, then 140 billion, then 500 billion... fucking madness. Prepare for a real war folks.
It's going to happen.
!20 billion, 140 billion, and so on.
A full out Japan #2.
By next year, 85 billion will barely pay my bar tab.
One drink ain't enuff, Jack. Ya better make it three.
They can't stop, or the GREAT UNWINDING begins.
War is neither foreseeable nor unforeseeable
"`PREPARED TO INCREASE OR REDUCE'
Ah transparency
Notice they did not say "stay the same." That's tradable! I'm buying AAPL and PAAS so I'm covered.
Schroedingers Fed
... and Bernanke's Corollary:
It is impossible to simultaneously determine the quantity and the velocity of money.
Therefore, we just make up any plausible-sounding mumbo-jumbo that comes to mind.
FED: "Fiscal policy is restricting economic growth..." No you dumb shits, FED gravy slathered on the Wall Street turkey breasts is mis-allocating capital and choking economic growth.
These jackasses have absolutely no fucking idea what in the HELL they are doing!
$6 Trillion+ dumped onto Wall Street, cotton candy equities floated to enrich the Zombie corporations and banks while raping main street and the responsible citizen.
TREASON!
THE FED IS A TREASONOUS CABAL OF BANKER LACKEYS!
END THE FED!!!
"No you dumb shits, FED gravy slathered on the Wall Street turkey breasts is mis-allocating capital and resources and choking economic growth. " - fixed, but spot on! End the motherfucker fed, end it by taking the all board members, govenors, shareholders and owners to the fucking guillotine.
Here, here!
guillotine too easy - throw 'em to bubba in max security for a good ol' fashion butt rapin'
That will happen in the "holding area". If "bubba" can't live without the EBT card, he will see the guillotine as well.
Effen Gross is on CNBS, talking up the Fed. buy side of the statement so he can keep his free meal ticket, [front running the Fed.] going.
So is the Fed coming or going?
<Enquiring minds want to know.>
Just another pre-mature release
I hate when that happens.
If the Fed's a lady, she can do both at once and keep doing it back-to-back without rest in between! Us guys have valving mechanisms that make it impossible.
it's yellow ... they're going.
"Not to worry, it's just a little rain." Bnak
I'd be a buyer here....Dollar weakness down about 20 basis points and vix up only 496 basis points
Fucking bullshit lie!
this market will deff finish green today on this fucking bullshit,
dear bernanke and obama, go play in fire
i dont get these fuckers.
they say that the economy is getting weaker, and that is despite all these qe shits they have tried the last 4-5 years.
dont they think, maybe, just maybe, this does not work to actually stimulate the real economy, and maybe the only way for a real recovery is to take the foot off the gas, let whatever happens happen, but in the long run, we will actually have a real recovery with real growth.
instead these fucks just continue printing leaving us to only imagine what lies ahead
The market does not care if it works or not. Free money flows into it. Ben has assured there is no risk. While the free money flows the market will not crack.
Logic says that investors should wake up and realize its not getting any better. However the market is controlled by the big banks who are getting boatloads of free dough from the Fed. So they could care less if the economy recovers. The more it does not the more free money. Why struggle to make money when you can get it for free?
Could Warsh be right...no plan B....who believes that!
Bitches
Yep, we will rescue the stock market when we have to, capping any increase in VIX as required ...
Markets seem to have no idea what to do.
Sell in May and Go away.
Just about everyone should know what to do.
'Fed says 'labor market' has shown some improvement'? Where?
Hmmm...big POMO day yesterday + window dressing should have equaled a big up day. Is it possible someone may have got the memo ahead of time again?
https://www.youtube.com/watch?v=taLSSl68V3s
http://www.bloomberg.com/news/2013-04-29/warsh-says-fed-to-continue-easing-as-jobs-growth-elusive.html
Former Federal Reserve Governor Kevin Warsh said the central bank will probably press on with its “aggressive” easing as growth this year may fall short of the pace needed to put millions of Americans back to work.
Job growth requires a 3 percent to 3.5 percent expansion that won’t be in reach for the world’s largest economy this year, Warsh said today in a Bloomberg Television interview at the Milken Institute Global Conference in Los Angeles. Policy makers probably will maintain their current stance, he said.
“For those that don’t have jobs, it looks to be an increasingly difficult trek to find employment in an economy that’s growing less than 2 percent,” said Warsh, now a lecturer at the Stanford University Graduate School of Business in Stanford, California. “We’re now four, five years into a very disappointing recovery and I wish I could tell you this will be the year it breaks out to the upside but it won’t.”
The U.S. economy expanded less than forecast in the first quarter, increasing at a 2.5 percent annualized rate, the Commerce Department said last week. The gain followed a 0.4 percent fourth-quarter advance, and compares with a 3 percent median estimate of economists surveyed by Bloomberg.
“This economy has now been so weak for so long that we’re probably doing structural harm to the economy,” Warsh said.
Centrally planned economy is what Ayn Rand warned against when she said she experienced socialism first hand in Europe and found that Americans have no clue how miserable it is.
C'mon Ben you fucking pussy, raise rates to 6% and quit buying crap securities and let us see reality!
If the economy is recovering why not?
If the economy isn't recovering after five years or your bullshit waste and punishing of savers ADMIT YOU ARE DOING NOTHING GOOD OTHER THAN REWARDING BANKERS!!!
p.s. - I propose that any FED announcement day be slap Steve Liesman senseless and break eggs on his bald dome of delusion day.
http://www.cbc.ca/player/News/World/ID/2382392338/
The National | Apr 29, 2013 | 20:46
The Monarchs of Money
The world's central banks have printed unimaginable amounts of money in recent years. Neil Macdonald explores what this means for the global economy and for your financial well-being.
there will be no tapering of QE. there will be more QE. when? i'd say late Summer, early Fall. dont sell duration IMHO
OK OK I MADE THESE UP.
Why didn't they mention how well Porsche sales are doing? You know, to show how their policy has 'helped" main street achieve their adolescent sports car fantasies. Or would that have been a faux pas?
FED chairman says "I'm gonna make it rain. Make it rain. Make it rain. Gotta get the economy humming so I'm gonna make it rain til you all drowning like in biblical times. The liquidity flood just won't stop till everyone is a zimbabwean zillionaire! Makin' it Rain! Biatch!"
Inflation has been running somewhat below the Committee’s longer-run objective, apart from temporary variations that largely reflect fluctuations in energy prices. Longer-term inflation expectations have remained stable. Here comes the Zimbabwean economic boom for America! Rejoice...
i like the way you think.
No way they reduce QE. They can't. Who would buy a bond with no coupon from them for the prospect of capital losses?
QE will continue to increase in the years' ahead until all implodes and people realize Krugman and Evans actually were roomates at an asylum who escaped in the early 90s.
I see the Fed minutes secretary has learned that a double-space after a period is passé. That is all I take away from it.
creature from jekyll island
The US Fed goes Japan.
The US Federal Reserve is advising Japan so expect the same exact actions.
Just bought 20ase 2gold maples and 1gold eagle
I love the way those maples shine
Btw paid 6 dollar premium for ase's
Hope you guys and gals are buying today for may day
steve liesman: "jesus! why didn't i think of that!" as he changes underwear.
Could I just add here respectively of course,
For the Fed to fuck off? 85 billion per month wasnt enough shit-fucks, so how can 100, 120, 140, 160, 180 etc etc be enough?
You do realise ben you are going to be skinned alive when this shit-fuck collapses? I take no joy from this ben as some folk dont have a strong stomach for skinning alive, so I have taken measures for this. If they become nauseous, and infirm on the skinning front, I will step in and finish you off, hypothetically of course, as I have a stomach for these things, but you must understand that for every action you take, there is an equal and opposite re-action son.
You didnt have to ruin the world we live in son, but you did, so you will pay accordingly. You might want to prepare you fucking dwarf cunt, because the reckoning will be worse than you think. You should try not fucking off the whole western world and reducing us to fucking servitude while you think you can swan off into the sunset, because you wont you fucking poisened little cunt.
And take my word for it cunt faced prick, bank on that.
Guys, We have met the enemy, and it is US! I quit blaming others for my problems long ago...get a grip...and then get a pair!
QE to INFINITY. The FED cannot stop, or they will have to un-wind the 4TRILLION off their balance sheet and who in there right mind will buy those bonds. When this happens if it happens it will create a deflationary Collapse and create hyper inflation of commodities at the same time. IMO
More made up headlines you will never see.
Could someone punch Bob Pisani in the face...
It's Bob Piss-on-me
The biggest cheerleader other than Lies-man
Escape velocity cannot be attained....black hole economics wiill suck us all down. That is all.
"The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy..."
What a bunch of bullshit!
Nanny FED will make sure Wall Street has it's pacifier and Main Street has a dirty diaper - in perpetuity.
The most ominous thing ive heard out of the fed is that big ben isnt going to jacksonhole
Yeah but it can't really be considered "good news" until that motherfuckers headless decomposing body is found floating down a river with signs of having been "Deliveranced" before getting whacked.
Or am I going too far? I just can't tell anymore....
I would not be even remotely surprised to see these savage shitheads rip the market to a new all time high before todays close.
It's much easier to blow up a ballon than to suck the air back out of it one gulp at a time. Just sayin'.
At this point, these buffoons could say anything they want. Not very many of us are paying attention.
The children disguised as adults in this country far outnumber us. And they reproduce more.
http://www.post-gazette.com/
Top story: Crosby won't play in Penguins' playoff opener.
Third story: Current and outgoing Pittsburgh mayor is chairman of secretive group attacking leading candidate for mayor.
http://pittsburgh.cbslocal.com/
Notice lead story.
http://triblive.com/x/
Again, notice lead story.
Bread. Circuses. Dumb people.
What school can I attend to take a course in talking for 20 minutes without actually saying anything?
Take your pick... Any educational institution in the good 'ol USA
C-SPAN
Obama's press conference yesterday would have counted for at least 9 credit hours of a Master's thesis seminar.
http://www.cbc.ca/news/world/story/2013/04/30/f-rfa-macdonald-monarchs-money-secrecy.html
Hiding the bad news
What these bankers do with this new money they print is buy government debt, or shore up failing banks or teetering national economies or industries like housing or insurance, part of the policy they call quantitative easing.
They say, and many respectable experts support them, that quantitative easing has saved entire economies from imploding.
They also say — high priest-like — that they must keep the details of their discussions secret because their words could be misinterpreted, and entire markets could move on a misunderstanding.
And they stress they are operating entirely within the mandates given them by elected governments.
That's as may be.
It's also true the central bankers did not ask for the immense power they now exercise.
It was thrust upon them because the private sector made enormous, stupid, ruinous blunders, and because elected politicians were too terrified to make all the deeply unpopular decisions, like whether to let more banks fail, that had to be made when the financial meltdown started feeding on itself.
Politicians, given the chance, kick the can down the road; central bankers act.
But because of their mandate to maintain economic stability, they like to hide the bad news, or obscure it with vague euphemisms.
It is completely false that bankers didnt ask for their power. In fact, wars have been fought, blood has been spilled, and governments ruined in the pursuit of this power.
We got this.
Nothing to see here.
Move along.
Remain calm.
REMAIN CALM!
http://www.cbc.ca/news/world/story/2013/04/29/f-rfa-macdonald-power-shift-growth.html
Mark Grant sits on the aft deck of his yacht in South Florida's spring sun, ostentatiously relishing his wealth as only an American does, and dispensing advice. He's made his money, and he likes to wear it.
Grant's personality is as big as his mansion and as flashy as his collection of exotic cars — he actually calls himself "The Wizard," a tribute to his own financial acumen.
While we are talking, his cellphone rings intermittently, and the callers are usually serious moneymen. Bill Gross of Pimco, the world's largest bond agency, is a friend; his praise adorns the dust jacket of Grant's recent book.
Inevitably, the callers are seeking investment advice.
A nearly 40-year Wall Street veteran, Grant is currently the managing director of a Texas-based investment bank and the author of a daily must-read investment commentary called Out of the Box.
His advice these days to tycoons and small investors alike is simple and direct. For heaven's sake, seek safety. Preserve your capital. "Keep what you have."
To Grant, the central banks' money printing has distorted the financial universe beyond any sensible dimensions.
The Federal Reserve alone is churning out $85 billion a month, or just over a $1 trillion a year. The combined balance sheets (which reflect created money) for the European Central Bank and the 17 individual banks of the eurozone stand at $3.45 trillion.
http://www.cbc.ca/news/world/story/2013/04/26/f-rfa-macdonald-power-shift-savers.html
Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations.
These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they co-exist.
They are the world's central bankers. Every six weeks or so, they gather in Basel, Switzerland, for secret discussions and, to an extent at least, they act in concert.
The decisions that emerge from those meetings affect the entire world. And yet the broad public has a dim understanding, if any, of the job they do.
In fact, these individuals now wield at least as much influence over the lives of ordinary citizens as prime ministers and presidents.
The tool they have used to change the world so profoundly is one they alone possess: creating money out of thin air.
There is an economic term for this: quantitative easing. More colloquially, it's called printing money.
Since the great economic meltdown in 2008, these central bankers have probably saved the world's economy from collapse, and dragged it into the unknown at the same time.
The amounts they have created are so vast as to be almost incomprehensible — trillions of dollars in pounds and euros, among other currencies.
At the end of 2012, the balance sheets of the world's largest central banks, those of the G20 nations and the eurozone, including Sweden and Switzerland, totalled $17.4 trillion US, according to Bank of Canada calculations from publicly available data.
What's their legacy?
When the record of the 2008 global financial catastrophe is fully written — that story remains a work in progress — the world's central bankers will emerge either as heroes, or as the people who administered a cure that turned out to be as bad as the disease.
Three of them in particular will go down in history: Ben Bernanke of the U.S. Federal Reserve, Mario Draghi of the European Central Bank, and Canada's own Mark Carney, soon to be the governor of the Bank of England.
That is nearly a quarter of global GDP, and slightly more than double the $8.5 trillion these same institutions were holding at the end of 2007, before the financial crisis hit.
Stock markets have risen on this tide of cheap money. So has real estate. So, arguably, has everything else.
Let us hope that like John Law, these counterfeiting degenerates will be forced to disguise themselves as women and sneak across the border in the middle of the night to escape a howling lynch mob.
Ceaucescu Christmas to ye, gents!
Mkt must go up or else the Fed's equivocal "reduce or increase" will not follow the simple unitary logic that good is good and bad is good for price.
Eternal QE is upon us.
Translation: If general wages go up that would be BAD!
http://useconomy.about.com/od/monetarypolicy/f/fed_monetizing_debt.htm
Question: How Is the Fed Monetizing Debt?
Answer: The Federal Reserve is monetizing debt anytime it buys U.S. Treasuries. The Federal government borrows from individuals, corporations and even foreign governments when it auctions Treasury bills, bonds and notes. When the Federal Reserve buys these Treasuries, it doesn't actually have to print money to buy them. It issues a credit, and puts the Treasuries on its balance sheet. Everyone treats the credit just like money, even though no actual cash is printed.
How does this monetize the debt? It turns the debt into money. It takes those Treasuries out of the open auction, which decreases the supply of Treasuries. This means the remaining Treasuries are bid up higher. Treasuries that are more valuable don't have to pay as much in yield to get buyers. A lower yield drives down interest rates on mortgages. The net effect is that it is as if the Treasuries bought by the Fed didn't exist.
But they do exist on the Fed's balance sheet. Technically, the Treasury must pay the Fed back one day. Until then, the Fed has given the Federal government more money to spend and increased the money supply. This is called monetizing the debt.
The Fed only monetizes debt in an emergency, like a recession. It helps the Treasury increase government spending to stimulate the economy without raising interest rates, which would depress the economy. When the economy improves, then the Fed can reverse the transaction, get the Treasuries off of its balance sheet, and remove the credit from the Federal government's operating budget.
Well, that was informative.
Not.
What a DUD<
just my opinion:
tomorrow the ecb will lower interest rates to 0.25 possibly. the fed will keep printing as well. as well as china, japan, and the rest of the world. gerald celente said we are in the middle of a currency war. and it seems he is right, again.
and to be fair, in the moment the central banks rise interest rates the whole house of cards should collapse. i mean imagine the fed increas rates to 3% LOOOOOOL all banks would collapse in like what... two weeks? no cheap money for the zomies means zombie apocalypse.
maybe i am all wrong but at least it feels like it. especially in the eu when one day the politicians say: crisis is over. next day the ecb lowers interest rates -> this farce has to end. the sooner the better.
^_^
Who gives a rat's ass what these fuckers say? We all know what they are going to do. They are fucked, backed into a corner they can't gracefully exit. Gold & silver on sale yet again - back up the 18 wheeler for the real stuff.
Raise or lower? Nice and opaque.
Straight up - full rescue on board by eod likely
It does not matter what Ben says. Algos buy anything. Any headline other than "WE ARE STOPPING QE" will make the market go up.
It will be 1600+ by tomorrow. If you haven't figured out the game yet - there is NO SELLING of most names. They kind of follow the index down. Certain names get hit but overall most are not being sold. It is super easy for the algos to juice momentum higher - no one stands in the way. They know it and continually do it - day in and day out. If you can load up and then guarantee a profit by buying an additional 20% position then you do that every time..
The accumulate then run the stops on the upside. When they do that they dump the whole position. Anyone with 10-20mil in buying power could do the same thing. Since there is next to no resistance and getting burned is rare they continue to do what works. All the algo's are playing the same game at the same time.
Forward Full Retard!
I wonder if we'll be able to pay our mortgages with SNAP and EBT cards?
"We can talk...or not talk... For hours"
*FED SAYS IT'S `PREPARED TO INCREASE OR REDUCE' PURCHASES
Take out the "reduce" (its laughable) because thre are no buyers and debts are swelling!
*FED SAYS IT'S `PREPARED TO INCREASE OR REDUCE' PURCHASES
LOL?
Where was the flash ramp between "increase" and "reduce"?
They're working on fine-tuning the algos as we speak.
There is no plan B.
Well, actually there is. But, I guess the Fed will have to wait until Plan A is at least 15 years old to buy it.
http://vitals.nbcnews.com/_news/2013/04/30/17989156-fda-approves-plan-b-one-step-for-girls-15-and-older-without-prescription?lite=
Either that or they can just swallow a suicide pill.
Where's the intrade on speculation the fed will stop purchases? I'd like to purchase the option, > 10 years from now.
Holy crap everything is down. We must be in deflation..
*FED SAYS IT'S `going to start telling the truth in 2020 if unemployment is at or below 3%.
Those fed governors are still in high skool!
FORWARD!!!! Engage the cliff!!!
Yeah, big surprise by this announcement.
It would be great if they raised rates and we defaulted so we could get this shit over with.
*FED SAYS IT'S `PREPARED TO INCREASE OR REDUCE' PURCHASES
Isn't that like saying Im prepared to increase my daily intake of cocain or reduce it and for the doc to go 'ok glad we had this chat'
Fed say's it's been advising the Japanese.
Bernankeson told the Japanses he knows all the mistakes they made in the past.
Bernankeson says he wrote many papers on the mistakes they made and he's sure how to fix them according to his God, Maynard Keynes.
Fed says more and more printing until it all blows up.
These morons don't realize that raising rates will actually make the economy grow. Millions of people need yield to live on.
Why has Bill Gross made so much money while bond rates have declined. Are you a stock broker?
The elephant in the room is IMPUTED INTEREST RATE.
Yes, people who only want to buy a newly issued bond have two problems.
1- The gummint is still pushing interest rates down
2- 'investors' don't realize the value of their BOND has gone down also!
I can't believe I'm the only one who sees this conumdrum.
Save yourself the trouble, here is the synopsis of the next 1,000 FOMC Meetings:
"Yes.....No.....Maybe"
Funny, to me they have always read as:
"You will eat shit and you will like it, and you will learn to beg for more."
Market sinking today with just a whiff of withdrawing the Tit that feeds it.