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This Is The S&P With And Without QE

Tyler Durden's picture




 

For a while there, it seemed that even the densest of career economists who try to pass for stock pundits on financial comedy TV, were starting to get that without the Fed's (and the ECB's, and the BOE's, and the BOJ's) QE, the market would be much, much lower (whether 500 points lower as Gundlach suggested or much more, remains unclear). After all: by now it should have been clear to most that QE is doing nothing for the economy, and everything for the stock and bond market (here we certainly agree: there is a bond bubble, which by implication there is an even more massive stock bubble too - anyone who says the two are unlinked can be immediately put on mute).

This is why we presented this chart previously:

And is also why in January, we showed this update of the calendar days with and without QE:

 

And yet, judging by the roster of TV guests appearing on assorted cable stations, the confusion is back again.

So just to set the record straight, and make it so easy even Jeremy Siegel gets it, below is a chart showing the absolute performance of the S&P, starting with March 18, 2009 when full-blown QE1 was announced, and adding up all the S&P points "gained" under some QE regime: QE1 (2009-2010), QE2 (2010-2011), Operation Twist, QE3 and QE4 (2011 until today) on one hand, while subtracting all the S&P points "lost" when there was no QE or no advance notification of QE from the Fed, such as the period from the end of QE1 (March 31, 2010) until the QE2 announcement at Jackson Hole in August 2010, and from the end of QE2 on June 30, 2011 until the start of Operation Twist on September 21, 2011.

The chart below is sufficiently self-explanatory that not even career economists will need assistance to grasp it.

One final point: for all those who say the Fed's QE has "been successful", or the stock market is sufficiently strong and does not need any more forced liquidity injections, here is a simple suggestion: just end it.

Crickets.

 

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Mon, 05/06/2013 - 16:57 | 3535405 Meat Hammer
Meat Hammer's picture

If the Tylers weren't on a drone-strike list before.........

Mon, 05/06/2013 - 17:00 | 3535415 knukles
knukles's picture

But that means Krugman won't understand it.

Mon, 05/06/2013 - 17:02 | 3535429 Meat Hammer
Meat Hammer's picture

True.  Or he'll say it's our fault the S&P isn't 1,700 because we're hoarding gold and not buying STAWKS.

Mon, 05/06/2013 - 17:08 | 3535444 knukles
knukles's picture

Yes, per the syllogistic logic exemplified by the iKrug, I submit the following.  If the Hoarding of Gold by the Private Sector Diminishes Economic Activity, the the Hoarding of Even More Gold by the Government ... That which he said should be confiscated from private hands... Will Diminish Economic Activity Even Further ...
O
M
G

If one believes in Original Sin, then Krugman and His Ilk are Our Punishment.

Mon, 05/06/2013 - 17:11 | 3535454 Precious
Precious's picture

You didn't pump that.

Mon, 05/06/2013 - 17:15 | 3535470 McMolotov
McMolotov's picture

This shit's driving me nuts. All this waiting for the end to come, and it just seems to go on and on and on and on.

And on and on and on and on...

Pump up the Valium.

Mon, 05/06/2013 - 17:17 | 3535474 Precious
Precious's picture

This is about as useful as a coin toss booth at a fucking street carnival.

Mon, 05/06/2013 - 17:19 | 3535482 ParkAveFlasher
ParkAveFlasher's picture

I'm no TA chartist but from what I've seen of Elliott Waves, the QE gravy is gettin' awfully wavy.

Mon, 05/06/2013 - 17:25 | 3535503 McMolotov
McMolotov's picture

Fonz posted a link earlier today:

http://blogs.marketwatch.com/thetell/2013/05/06/the-qe-xcuse-in-explaini...

According to that ridiculous douche Wesbury, QE has no effect on the stock market. None. Stocks are up because of "rising profits due to new technology," and they're super cheap right now. Never been a better time to buy!

I wonder if Tyler was rebutting that fucktard.

Mon, 05/06/2013 - 18:12 | 3535636 SafelyGraze
SafelyGraze's picture

whew!

good thing there's QE!

hugs,

s&p 500

 

Mon, 05/06/2013 - 18:57 | 3535772 Supernova Born
Supernova Born's picture

More than half of Medicare dollars are spent on patients who die within two months.

The Fed is going to top that fail.

 

Mon, 05/06/2013 - 18:58 | 3535794 kaiserhoff
kaiserhoff's picture

No need to end it, Tyler.

Just ease up on the accelerator a skosh... and..., oh my fucking god.

LOOK OUT BELOW!

Mon, 05/06/2013 - 19:06 | 3535811 Fish Gone Bad
Fish Gone Bad's picture

OK everybody, time for a big group hug.  Now isn't that better?

Honestly, it is not going to end anytime soon.  For all those short, I am sorry.  For all those long, I am sorry as well.

Mon, 05/06/2013 - 22:06 | 3536372 ShankyS
ShankyS's picture

While the above chart is technically correct it should be wrong, cause the "promise" of QE came at Jackson Hole in 2010 and thus you are not counting about 150 SPX points that I believe should be in the figures above. They ran on the "promise of QE for a little over two months before it was actually announced. 

Mon, 05/06/2013 - 22:02 | 3536366 DangerClams
DangerClams's picture

Fuck those dying quitters.

Mon, 05/06/2013 - 18:19 | 3535657 InvestmentMind
InvestmentMind's picture

Feel free to send Brian a copy of this.

mailto:economics@ftadvisors.com

I did.

 

Mon, 05/06/2013 - 19:59 | 3535926 Parrotile
Parrotile's picture

Stawks super cheap? Not if you look at p/e they're not.

Betting on 'em going higer?  With your money (and a machine-driven "Market"), maybe you do need "Medical Assistance"

Beting on 'em going to the Moon, but with "Corporate" (i.e. Bank Depositors) money? - if it goes well, just pocket the profits. If it goes badly - it ain't your money at risk after all.

Relly helps being in the "In-Crowd" doesn't it . . . . . . .

Mon, 05/06/2013 - 17:21 | 3535488 imbrbing
imbrbing's picture

and on and on and on and on and on and on and on and on and on..........

Mon, 05/06/2013 - 17:28 | 3535510 Doubleguns
Doubleguns's picture

Put a dinosaur head on that chart and call it the Bernakasauris Rex.

Mon, 05/06/2013 - 17:41 | 3535545 Meat Hammer
Meat Hammer's picture

Tyler recently posted a blog from 2 years ago.  I read the comments......there were lots of "won't be long now"s.  

This shit can go on for a long time.

Mon, 05/06/2013 - 17:56 | 3535593 fonzannoon
fonzannoon's picture

My comments are littered with "won't be long now"

I went back and found a funny exchange with Kito. It was before he lost his turkey sandwich bet. He told me gold was absolutely going down because they would never, ever do QE3. I told him gold was absolutely going up precisely because they would do QE3.

Kito ended up being right about gold and wrong about QE and I ended up being right about QE and wrong about gold. The best part is I capitulated right before QE3 and said they probably would not do it after all.  How I have any sanity left is beyond me.

Mon, 05/06/2013 - 19:39 | 3535887 gmrpeabody
gmrpeabody's picture

Oh..., so you think you're sane?

;-)

Mon, 05/06/2013 - 18:15 | 3535645 Hulk
Hulk's picture

Yes it can go on a long time, but it won't be long now !!!

Mon, 05/06/2013 - 19:09 | 3535817 Fish Gone Bad
Fish Gone Bad's picture

Absolutely++

Mon, 05/06/2013 - 19:52 | 3535906 HardAssets
HardAssets's picture

A century (at least) of bad karma has built up. When this muther crashes it'll be unimaginable and breath taking. For the youngsters who were still in diapers at the time, do some research on the 1980s market crash and the kind of one day losses there were. With all the computer algos and hidden derivative counterparty risks out there . . . look out below. I've got insurance in phys PMs, but also trade the market to get some kinda return. I cross my fingers and hold my breath, and know analysis is of minimal value with rigged markets. But looking at the chart for the S&P, you wonder just how long the crooks can keep this thing going.

The pace of overseas war diversions and internal police state actons will give clues as to how bad things are getting. TPTB need to push forward with their preparations, but with as little alarm being sounded by the sheeple as possible. Since Americans have seemed to be massively dumbed down by public 'schooling', t.v., and mindless, childish activity - this is easier to do today than with previous generations.  When they no longer seem to care what we think . . . really look out.  

Mon, 05/06/2013 - 17:45 | 3535564 Fox-Scully
Fox-Scully's picture

Didn't you ever see the Never Ending Story?

Mon, 05/06/2013 - 18:02 | 3535608 El Oregonian
El Oregonian's picture

QE = Queer Excitement

Mon, 05/06/2013 - 18:23 | 3535672 EclecticParrot
EclecticParrot's picture

Chinese market torture

Mon, 05/06/2013 - 19:24 | 3535847 Chupacabra-322
Chupacabra-322's picture

@ McMolotov,

By the way, nice handle.

The Illusion and Deception by The Global Criminal Cabal Oligarch Bankster Intelligence Crime Syndicate will continue for as long as the Criminals want to.  Reason being, they own the keys to the printing press. 

“The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.”
? Frank Zappa http://www.goodreads.com/author/quotes/22302.Frank_Zappa
Tue, 05/07/2013 - 07:38 | 3536932 Ranger4564
Ranger4564's picture

In my opinion, they're priming the pump, inflating the balloon, take whatever analogy you prefer, but basically, they're building up the anticipation to the point where people begin to see the incredulity, and at that point, their aim has been achieved... panic the people... then crash the system, people will be witless, they can foist any program / doctrine... so it is soon... there is too much talk about the market is too high, about taking profits, about safe havens... the time is coming. I think.

Mon, 05/06/2013 - 20:26 | 3536034 dtwn
dtwn's picture

No shit.  This AK-74 and 3000 rds of 5.45X39 aren't going to get put to good use if the S don't HTF soon.  Not that I want to have to........but I will admit to having somewhat of a post-apocalyptic fantasy after reading The Stand, The Postman, and seeing Red Dawn waaaaayyyyy back in the day.

Edit: AK-74 sold at a gun show.  Or was it lost in that kayak accident?  Shit, gots to stop drinking to every Krugman column.

Mon, 05/06/2013 - 17:21 | 3535486 Keynesian Mess
Keynesian Mess's picture

Krugputz is listening; see all of those single down votes?

Mon, 05/06/2013 - 17:00 | 3535416 toys for tits
toys for tits's picture

The Fed has chained us all to the Titanic to 'rescue' us from our individual life preservers.

Mon, 05/06/2013 - 19:25 | 3535848 max2205
max2205's picture

Trade what the market is not what you want it to be.....

Tue, 05/07/2013 - 07:39 | 3536936 Ranger4564
Ranger4564's picture

What do you suggest, long locks and chains, short life preservers, neutral on titanic?

Mon, 05/06/2013 - 17:01 | 3535423 FinalCollapse
FinalCollapse's picture

They cannot end it. There is no exit strategy that ends nicely. The moment they (Fed+Stonecutters) end it the whole Ponzi will collapse like a house of cards.

Mon, 05/06/2013 - 17:21 | 3535489 Goldilocks
Goldilocks's picture

Homer the Great - the simpsons full episode 2013 Part 26
http://www.youtube.com/watch?v=D-AXNuYCJew (15:02)

Mon, 05/06/2013 - 17:28 | 3535511 Urban Redneck
Urban Redneck's picture

Government bonds are a demand for future money (printing) from the government.

The future transition to the now.

Mon, 05/06/2013 - 18:30 | 3535685 azzhatter
azzhatter's picture

Yup, if everything is fine then just end it. you fucking fuck Bernanke.

Mon, 05/06/2013 - 16:58 | 3535406 bania
bania's picture

"One final point: for all those who say the Fed's QE has "been successful", or the stock market is sufficiently strong and does not need any more forced liquidity injections, here is a simple suggestion: just end it."

 

Exactly. No better argument.

Mon, 05/06/2013 - 18:29 | 3535686 yogibear
yogibear's picture

They can't The banks and pension funds would collaspe. The US government would have to severly cut speding.

Instead of them collasping the people will.

Pay the price now or pay it later.

 

Mon, 05/06/2013 - 19:14 | 3535827 Fish Gone Bad
Fish Gone Bad's picture

Why end it ever?  The banks ala the Fed will own all those "worthless" MBS and will then own a great deal of the US.  The hot money out of the US is making the world more destabilized which is good for weapons producers, which is also good for banks. 

Honestly, there has never been a better time to be old...

Mon, 05/06/2013 - 19:56 | 3535916 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"Honestly, there has never been a better time to be old..."

In two weeks I turn 71. I admit that this thought of yours has been rattling around in my head for some time now (unfortunatly I'm in good health /sarc).

Once the banks "own" all of the MBS's they should be nationalized, the debt cancelled, and the banksters hanged (high).

Mon, 05/06/2013 - 19:27 | 3535860 Helix6
Helix6's picture

Re: "Instead of them collasping the people will."

Ya, that's kinda the whole idea, isn't it?

Mon, 05/06/2013 - 16:58 | 3535408 BC6
BC6's picture

Fuck you Ben Shalom Bernanke!

Mon, 05/06/2013 - 17:10 | 3535449 McMolotov
McMolotov's picture

"A day may come when the magic of QE fails, when we forsake the printer and cleanse all markets of bullshit — but it is not this day!"

—Bernankagorn, son of Bernankathorn

Mon, 05/06/2013 - 18:32 | 3535696 yogibear
yogibear's picture

Yes, it will be ineffective some day. Looks like that is getting closer each day.

Mon, 05/06/2013 - 16:58 | 3535409 Sudden Debt
Sudden Debt's picture

I wonder what will happen to the economy when they change the name of QE...

Mon, 05/06/2013 - 17:12 | 3535456 Temporalist
Temporalist's picture

"Amplitutde Settling"

"Aggregative Restoration"

"Sumative Serenity"

"Restorative Subsidising"

 

The sheeple are tired of hearing the oldspeak terminology.

Mon, 05/06/2013 - 17:13 | 3535458 Precious
Precious's picture

The United Queates of America.

Mon, 05/06/2013 - 18:04 | 3535610 el Gallinazo
el Gallinazo's picture

I hear that the KY jelly company is negotiating with the Bernankster for a copyright to the trade name with the logo, "QE - slips it in smooth and slow."

Mon, 05/06/2013 - 18:58 | 3535792 neidermeyer
neidermeyer's picture

To extendz your analogy Tyler is Bernanke's sand in the vaseline.

Mon, 05/06/2013 - 19:18 | 3535832 Fish Gone Bad
Fish Gone Bad's picture

You know, I honestly doubt that.  The Fed is openly doing all kinds of things.  People are at home watching American Idol and just trying to finish their 1000 yard dash to the end of their life.

Mon, 05/06/2013 - 16:58 | 3535411 ugmug
ugmug's picture

An economist will see the chart as half-full while all others will see it as half-ass.

 

 

Mon, 05/06/2013 - 19:19 | 3535834 Fish Gone Bad
Fish Gone Bad's picture

The people smoking pot will say, "Ah duuuuuuude! Whereja get the chart?  I want one too."

Mon, 05/06/2013 - 16:59 | 3535413 kito
kito's picture

ending qe...........kind of like the guy who needs to be rushed to the ER to fix his priapism from the massive viagra overdose................................

Mon, 05/06/2013 - 17:02 | 3535428 toys for tits
toys for tits's picture

Or starting a saline IV on someone who's just been autopsied.

Mon, 05/06/2013 - 20:11 | 3535978 Hulk
Hulk's picture

No need to despair, priapism can be licked !!!

Mon, 05/06/2013 - 22:10 | 3536385 StychoKiller
StychoKiller's picture

My wife (Doctor) told me how they fix that > 4-hour boner -- all I can say is:  20mg Morphine, stat!

Mon, 05/06/2013 - 17:00 | 3535417 prains
prains's picture

the S&P graph would have been a wonderful juxtaposition next to the kermit photo bent over the sofa, with or without.......

Mon, 05/06/2013 - 17:00 | 3535418 butchee
butchee's picture

Long crickets....and locusts.

Mon, 05/06/2013 - 17:01 | 3535420 Bay of Pigs
Bay of Pigs's picture

It's a shame when the facts get in the way like that.

Mon, 05/06/2013 - 17:01 | 3535424 Moe Howard
Moe Howard's picture

These goddam green shoots have been popping up since 2008 - when do they start growing?

 

How much longer are they gonna feed us the same bullshit, over and over?

Mon, 05/06/2013 - 17:13 | 3535459 knukles
knukles's picture

Like the New Benghazi Revelations.
Haven't our overlords yet figured out that their credibility problem is their problem fundamentally based upon asinine deeds covered up with constantly changing stories ending in mass confusion?
Benghazi was due to a YouTube video, nothing to do with ....
Fed easing is good...
Oh Lord...

Why, does one ask one's self...
No, never mind...

Mon, 05/06/2013 - 17:25 | 3535504 imbrbing
imbrbing's picture

Monsanto has screwed them up to much with DNA manipulation, we now have midget grass being passed off as an economy.

Mon, 05/06/2013 - 17:43 | 3535554 CCanuck
CCanuck's picture

The sheep keep grazing on the green shoots.

Nothing left behind to grow.

 

Mon, 05/06/2013 - 17:44 | 3535560 ChanceIs
ChanceIs's picture

Bullshit helps the weeds....er ah...green shoots grow.  You know....fertilizer.  Can there be too much of a good thing?

Mon, 05/06/2013 - 19:40 | 3535889 lotsoffun
lotsoffun's picture

housing and employment have 'recovered' and 'bottomed' again!! haven't you seen the news?  oh - and manufacturing also.

 

Mon, 05/06/2013 - 17:02 | 3535427 TrustWho
TrustWho's picture

 just end it....nuff said, because they fear the result!

Mon, 05/06/2013 - 19:45 | 3535894 francis_sawyer
francis_sawyer's picture

You double dipped the chip... You dipped it once... Took a bite out of it... AND THEN YOU DIPPED AGAIN!

~~~

Next time take just one dip & END IT!

Mon, 05/06/2013 - 17:03 | 3535431 LawsofPhysics
LawsofPhysics's picture

If you are still accepting paper promises in exchange for the value of your labor, well then you are  part of the problem.  It will only get worse so long as this is the case.  Thank goodness we still have the freedom to turn that paper into hard assets of all kinds, for now...

Mon, 05/06/2013 - 17:03 | 3535433 Professorlocknload
Professorlocknload's picture

And the trend is?

To the moon, then smack into it at full throttle.

 

Mon, 05/06/2013 - 20:11 | 3535980 Parrotile
Parrotile's picture

More like Set the Controls for the Heart of the Sun

http://www.youtube.com/watch?v=v5_0iZQ-TuA

(A little more spectacular! Nothing quite like Pink Floyd!)

Mon, 05/06/2013 - 17:04 | 3535436 LawsofPhysics
LawsofPhysics's picture

By the way, what did treasuries do today?  Wasn't paying attention at all.

Mon, 05/06/2013 - 17:19 | 3535481 kito
kito's picture

you mean what did ben do with treasuries today????????

Mon, 05/06/2013 - 17:28 | 3535509 negative rates
negative rates's picture

They are locked in at 1.80 or lower, and about 1.63 on the bottom. That's the 10 year. You'll never see 1.81% yield ever again.

Mon, 05/06/2013 - 17:09 | 3535447 John McCloy
John McCloy's picture

This is why I come to ZH. We all know this and this is not even figuring for the fictional accounting standards, ZIRP and unprecedented social programs nor a cessation or drawdown in military spending.
They must avoid criminal prosecution for the buddies, expand foodstamps and taxation and come up with any excuse to keep the QE going. Anyone on this site said the same thing years ago..
ZIRP cannot end
Wars cannot end
Crude and metals being suppressed by the gatekeepers of the ponzi
QE cannot only not end but be expanded
Mark to market is so far gone "suspended" it may as well never have existed in the first place
And the goal lines are being moved as the rules change via "Bail-ins" forced on supposed soveriegn nations.

"There is no out...only in"

Mon, 05/06/2013 - 17:13 | 3535462 Bay of Pigs
Bay of Pigs's picture

Good to see you again John. Glad you're still hanging around.

Mon, 05/06/2013 - 17:23 | 3535492 John McCloy
John McCloy's picture

And miss the scariest suprise party we all had no choice in being invited to and no idea of when it's going to occur with you fine folk?
Not a chance.

Mon, 05/06/2013 - 18:23 | 3535674 hardcleareye
hardcleareye's picture

Glad to see you are posting again.

Mon, 05/06/2013 - 17:18 | 3535479 New_Meat
Mon, 05/06/2013 - 17:29 | 3535514 Goldilocks
Goldilocks's picture

The International (2009)

http://www.imdb.com/title/tt0963178/trivia?tab=qt&ref_=tt_trv_qu

Cassian Skarssen: When there's no way out, you find a deeper way in.

Mon, 05/06/2013 - 17:25 | 3535501 UH-60 Driver
UH-60 Driver's picture

As of one of the "Wise Men" you have pegged it on the nose, but I must warn you; If you keep exposing the truth you will end up on a lipstick list taped to a drone.

Mon, 05/06/2013 - 18:35 | 3535711 yogibear
yogibear's picture

Collapsing the US dollar to a fraction of the current value will be their answer. 

When nobody takes the US dollar it's when the Fed becomes the most hated organization in the US.

 

Mon, 05/06/2013 - 17:10 | 3535448 kahunabear
kahunabear's picture

So, basically, you are saying this QE thing makes the market go up and without it, it sucks. Hmm, I will have to ponder that some more. Certainly is an interesting spin on things.

Mon, 05/06/2013 - 17:22 | 3535451 francis_sawyer
francis_sawyer's picture

It's a graphical illustration of the late innings of a joobuck system [what it's worth, what its redemptive value is & will be (IOW = ZERO), WHO 'controls & manipulates' the results when it becomes untethered, WHO escapes on the lifeboats]... Hope you enjoyed being taken for a ride...

~~~

Edit: 'Junks' don't hide the facts & what's even funnier is that the ones WHO are escaping on the lifeboats are saving their heartiest belly laughs for you water carriers...

Mon, 05/06/2013 - 17:33 | 3535526 kito
kito's picture

your facts or my facts?????......no worries....i still have love for you francis..........................

the good news is when this is all said and done...and the world resets..................i have some connections who can help us make a movie about it ;)...........

Mon, 05/06/2013 - 17:43 | 3535558 Meat Hammer
Meat Hammer's picture

Fonz is going to get jealous and throw all of your shit onto the front lawn.

Mon, 05/06/2013 - 17:47 | 3535569 kito
kito's picture

LOL!!!!!!!

Mon, 05/06/2013 - 19:30 | 3535868 francis_sawyer
francis_sawyer's picture

Now THAT was funny Meat Hammer

Mon, 05/06/2013 - 19:33 | 3535875 kito
kito's picture

ohhhh dissed by francis.........you know humor is in my dna??????

Mon, 05/06/2013 - 19:42 | 3535891 francis_sawyer
francis_sawyer's picture

That wasn't a diss kito [at least I didn't mean it to be]... MH was just making a joke about the fonz/kito connection [which I thot was funny]...

~~~

Now THAT was funny Meat Hammer

~~~

Kito ~ By now, you & me can just laugh about this stuff... But I'll tell ya... As tiresome as it may seem to many others, it still serves a purpose [for me at least]... I'll explain...

If I had simply typed 'clownbux' or 'fiat dollars', I'm certain there would have been ZERO junks [because of the relative merits of the overall statement]...

Yet ~ In coming up with a term to describe the dollar, I'm always struck by two things:

- Jeckyll Island [more importantly, the 'attendees']

- The present shareholders of the United States [non]Federal [non]Reserve

~~~

So you get an article like this one... Which CLEARLY illustrates that the only thing holding the stock market up [& probably society as a whole], is THIS money printing by THIS entity [which, ostensibly, has provided the roadmap with all the other CB's around the world & are in collusion in artificially propping up a house of so called 'asset' cards]...

From MY perspective [or, until someone comes up with a better argument]... I feel I am entitled to a little 'artistic freedom' when it comes to my PET NAME for this currency...

Mon, 05/06/2013 - 20:33 | 3536072 Meat Hammer
Meat Hammer's picture

I think the junkers misunderstand you and interpret what you're saying as "most joooos are scumbag bankers" when you're just correctly pointing out that most greedy scumbag bankers are Joooooos.

Tue, 05/07/2013 - 08:06 | 3536838 francis_sawyer
francis_sawyer's picture

I think that's a fair characterization...

~~~

The only way I'd refine it is add the following:

- It's not as simple as looking at 'banking' ~ you have to look at the top of the pyramid in everything... There are captains & commanders & there are simple oarsman... I'm careful to use the word "POWER NODES" [which not only refer to the 'pillars' themselves [as listed below], but also the power structure within the pillar pyramid... Who are the top executives? Who are the 'families' that control the central banks? Who occupy the spots in the BIS & IMF? Who run the regulatory commissions? Which Congresscritters are on the banking subcommittee? Which judges are tossing out Libor suits? Who are the cast of characters in the revolving door between Goldman Sachs & Treasury? or between Goldman Sachs and ANY unelected monetary policy board? Who is ALWAYS on the short list when it comes to nominating ANY post to get filled anywhere?

- The other 'PILLARS' are, MSM, political activism, & jurisprudence

- MSM is a slam dunk... Hollywood, network television, programming, distribution channels, [even a great deal of the actors themselves]... The type of 'content' that is made into an agenda... The type of content that is flatly ignored or demonized... The across the board 'taint'...

- Political activism... That's easy ~ Follow the money... Who spends the most & what's the end purpose?

All this stuff is clear as day... If a space alien were to come to this planet & observe this behavior, they'd be saying WTF?... Worse ~ They'd probably conclude that they wouldn't need a full scale invasion of the planet to take over [because they'd realize that most people are dumb as a box of hammers]... Instead ~ they'd surmise that if they strategically took out Washington, New York, Los Angeles, London, Vatican City, Tel Aviv, & Jerusalem then they'd be the new ZOD lickety split...

I swear... In real life I'm not 'angry' about this stuff [as it probably appears, in words, on a blog]... I'm more 'incredulous'... It's just mind boggling ignorance [by the majority], & usurpation [by a minority]... Even 'little things' are laughable... I love it when I hear shit like "47% of all American billionaires are jewish", or, reading the long laundry list of proud jews who have won Nobel Prizes [as if, knowing the same prize has gone to the likes of Obama, Al Gore, Mandella, Kissinger or, an 'economics' prize went to someone like Krugman, the whole Nobel racket isn't the biggest farce on the planet]... BEN BERNANKE ~ TIME MAGAZINE'S MAN OF THE YEAR BITCHEZ!

Bragging about jews being important because they occupy all these so called IMPORTANT positions in society is like Kim Jong Il telling North Koreans that his SON was the smartest & most fit human on the planet to take over his position after he passed on... Or, hypothetically, Obama promoting one of his bath house buddies #forward to become the next POTUS... & what's even WORSE [to me], are all the ones like Bill & Hilary Clinton, John McCain, & even the Bush & Windsor clans who basically just became jew ass kissers to achieve a seat at the table within this jew controlled architecture [which is the main reason that it is hard for the average person to put together in their mind what's going on]...

"Hliary Clinton?" [someone may ask]... She's not jewish, so that proves that jews have nothing to do with anything, right?... RIGHT?... We'll just casually ignore the fact that although 2% of the US population is jewish, 9+% of the State of New York is jewish [as well as almost 6% in DC & the capital beltway]... Hilary moving to New York [& stampeding a Kennedy in the process] was all a big coincidence... & what ever happened to that Kennedy anyway?... Oh ~ I think he's dead... [unlucky with planes it seems]...

Mon, 05/06/2013 - 17:10 | 3535453 W T F II
W T F II's picture

The Fed will let it drop when they are good and ready...!! And, methinks they're ALMOST ready...

Mon, 05/06/2013 - 17:15 | 3535465 LawsofPhysics
LawsofPhysics's picture

You are an optimist.  Should interest rates rise, the liabilities of the U.S. and the majority of the western world quickly become unfunded.

Mon, 05/06/2013 - 17:17 | 3535475 McMolotov
McMolotov's picture

People are the unfunded liabilities. War will take care of that.

Mon, 05/06/2013 - 20:26 | 3536041 Parrotile
Parrotile's picture

Remove the "Little People" and there's plenty to funnel to "the Important People".

It's rather unfortunate that many of the "Little People" are involved in the invisible (yet essential) jobs that make our modern World go round smoothly. Jobs that may be less well rewarded, and certainly less glamorous than those of the Financial, Legal and Entertainment glitterati, but highly skilled and very essential jobs nevertheless.

OK let's stand back whilst Israel, or whoever, promotes the start of WW3. Let's also wisely remember the words of Einstein - http://www.quotationspage.com/quote/329.html

Certainly the end of our comfortable lifestyle, and probably the end of Human life period. Which includes the 1% 'ers - although they are too blinded by their avarice to see this.

 

Mon, 05/06/2013 - 17:38 | 3535539 12ToothAssassin
12ToothAssassin's picture

Thats exactly the point.

Mon, 05/06/2013 - 17:42 | 3535548 Dr. No
Dr. No's picture

They are unfunded now.

Mon, 05/06/2013 - 17:45 | 3535562 el Gallinazo
el Gallinazo's picture

That's why they need a few billion hollow point pistol bullets.  It appears that the murder of citizens is the one thing they will no longer off shore.

Mon, 05/06/2013 - 20:47 | 3536121 dtwn
dtwn's picture

If by ALMOST you mean on the order of years, I agree, I think we have 2-3 years left (for those who are aware to prepare).  I say give Europe and Japan 1 year to implode, then flight to 'safety' of the US dollar, then another year till the US implodes.  Greece has been stringing us along for almost 4 years now, I think this is going to take a bit longer than we all want to shake out.  But when it happens, it will happen very very fast.

Mon, 05/06/2013 - 17:11 | 3535455 Wanton1
Wanton1's picture

"Substitute words for realities and then talk about the words."

 

Edwin Armstrong - FM inventor and victim of the Supreme Court.

Mon, 05/06/2013 - 17:13 | 3535463 New_Meat
New_Meat's picture

"The chart below is sufficiently self-explanatory that not even career economists will need assistance to grasp it."

On the other hand, PhD.z will need entire hoards of grad-students to do the interpretation, maybe these guys will help: http://hosted.ap.org/dynamic/stories/U/US_SCI_CICADA_INVASION?SITE=AP&SE...

Note that a bug-guy measured their sound (that would be the males screaming for sex) at 94 dB, or, almost physically hurting one's ears.

- Ned

Mon, 05/06/2013 - 20:31 | 3536062 Parrotile
Parrotile's picture

They may be samll, but that's as loud as a circular saw at 1 metre.

Wonder if there are any deaf Cicadas out there?? Or is this yet another area where "lLower lifeforms" are far better designed than us "Higher lifeforms"??

Mon, 05/06/2013 - 20:46 | 3536118 New_Meat
New_Meat's picture

;-) deaf Cicadas := malez, deaf femalez would be nil, but I'm no bug thang.

Mon, 05/06/2013 - 17:16 | 3535467 news printer
news printer's picture
How Money Walks - How $2 Trillion Moved Between the States

http://www.howmoneywalks.com/web-app/

Interactive Maps

 

Enjoy

Mon, 05/06/2013 - 18:00 | 3535601 Goldilocks
Goldilocks's picture

Astrud Gilberto & Stan Getz: The Girl From Ipanema- 1964
http://www.youtube.com/watch?v=UJkxFhFRFDA (3:02)

Mon, 05/06/2013 - 21:29 | 3536273 FinalCollapse
FinalCollapse's picture

I absolutely love this song. I have it bookmarked and listen to it on some evenings. Just close eyes and all of sudden I am on the Ipanema beach.

Mon, 05/06/2013 - 17:17 | 3535472 UH-60 Driver
UH-60 Driver's picture

A good war will take your minds off of QE..., be assured that there are a lot of people who will be "freed" very soon.  A good war will make QE not needed too.  Kind of a win-win.  Will that be war with another nation, or here at home with all of the Tyler Durdens?

Mon, 05/06/2013 - 17:23 | 3535493 New_Meat
New_Meat's picture

8,765 parts, all made by the lowest bidder, flying in loose formation. - Ned

Mon, 05/06/2013 - 20:35 | 3536078 Parrotile
Parrotile's picture

The lowest bidder?

Or the "better connected" - the one with the best "Political representation"?

Probably no difference in terms of end product (except in cost to the Taxpayer - but who cares about them nowadays)

Mon, 05/06/2013 - 20:49 | 3536124 New_Meat
New_Meat's picture

P-guy, I take your point, but otoh, how many of your buddiez have been killed in the fucking crowd-killerz.

{and that includes the crewz as well as the meat}

Mon, 05/06/2013 - 22:39 | 3536467 UH-60 Driver
UH-60 Driver's picture

Having dead friends does suck, but coming home and watching their kids and my kids playing after a deployment sucks more.  I wish I could say and believe that killing more of them makes up for it, but it doesn't.  It just makes you want to not stop.  As the saying goes, "You just don't lead them as much!" 

Have you ever dusted a guy out on a motor cycle whilst he was driving away at 60+ mph from an ambush site causing him to lose control and drive right into a wall?  A good operator can  jump out and get a positive ID using biometrics in a few minutes. 

I saw  one dude dressed up in the same uniform as ours blow himself up less than 80 feet away.  He was standing less than six feet from one of our patrols.  All he did was make a big white cloud and splatter the grove with his guts.  Too funny. 

How 'bout a bunch of dudes tangled up in our wire getting picked off as they franticly twisted and tried to get free?  The terror those dudes felt as the guys around them got their insides spread all over was prob. just as bad as the idea of trying to sneak into the base (where we all were sleeping) with a bunch of grenades. 

That was all in one ten minute span.  The whole time the door gunners were rocking away whilst the QRF (Quick Reaction Force) in the back of the helo were yelling out targets. 

I then landed and had two waffles, a cup of coffee, and an apple.  I called my wife and kids and told them before I watched an episode of Justified and slept like a baby. 

Tue, 05/07/2013 - 03:40 | 3536761 Likstane
Likstane's picture

...all those who hate me love death.   Proverbs 8.36

Mon, 05/06/2013 - 17:19 | 3535480 devo
devo's picture

just end it.

Exactly, if the numbers are good end the party and see what happens. That being said, I am impressed the FED is winning so far. They really have people believing (or even better, ignorant)

Mon, 05/06/2013 - 17:21 | 3535487 UH-60 Driver
UH-60 Driver's picture

I am betting on ignorant. 

Mon, 05/06/2013 - 17:29 | 3535515 Tulpa
Tulpa's picture

Also note the dip that occurs at the end of each of the different QE programs.  Each time it takes less and less time the market to develop a tolerance to Federoin.

Mon, 05/06/2013 - 17:30 | 3535517 YHC-FTSE
YHC-FTSE's picture

I remember I used to get irate people blaming me for the market performance because I was, "talking the prices down with my doom and gloom", and "giving out negativity", with my voodoo posts on bubbles on boards like seeking alpha and yahoo finance. 

They must be so happy right now, except there is no retail in the markets any more. Just this giant edifice of QE pouring liquid excrement into the gaping mouths of a select few who in turn excrete into the gaping maws of the markets. The Fed cannot stop this without a creating a crash, and the liquidity is flowing hard enough to force everyone with half a brain to the safety of physical assets, and the other half to govt IOUs. The only outcome is failure and the only question is when. 

Mon, 05/06/2013 - 17:54 | 3535534 prains
prains's picture

and out of left field, big box retail crashes and burns under the burden of debt not funded by "consumers" and the retail sector black swans the entire rampalooza. watch for it.......how many square feet can these guys keep floating on a sea of debt with concrete pontoons??

Mon, 05/06/2013 - 17:33 | 3535525 Village Smithy
Village Smithy's picture

I read most of the posts on ZH almost every day. I have never felt as knowledgeable about the economy and politics as I do right now. I have also never felt more out of step with the world. It's a weird feeling but it's growing on me. Thanks for keepin' it real ZH!

Mon, 05/06/2013 - 17:40 | 3535543 prains
prains's picture

now try and explain it to your wife, she'll look at you quizzically and the seed of an idea will have been planted;

<he's getting the pillow over his face sooner than he thinks>

 

one eye open

 


Mon, 05/06/2013 - 17:41 | 3535546 12ToothAssassin
12ToothAssassin's picture

Welcome to the reality.

Mon, 05/06/2013 - 20:39 | 3536088 Parrotile
Parrotile's picture

Welcome to the Dive - http://www.youtube.com/watch?v=xvVr8oqkFqo

(old but good!)

Mon, 05/06/2013 - 17:43 | 3535555 ITrustMyGut
ITrustMyGut's picture

yep! me too..so much education for free here.. and yet... efforts to share the knowldge with others..*crickets*  oh well.. Im grateful for ZH!

Mon, 05/06/2013 - 17:53 | 3535583 prains
prains's picture

the sedation is heavy, constant and more enjoyable than say, gravity. 

Mon, 05/06/2013 - 20:45 | 3536109 Parrotile
Parrotile's picture

Seems even gravity might not be what we think - http://www.gsjournal.net/old/science/guerami.pdf, and more recently - http://www.thenakedscientists.com/forum/index.php?topic=46565.0 (strange but interesting thoughts)

Mon, 05/06/2013 - 17:38 | 3535531 John Law Lives
John Law Lives's picture

It would be interesting to see a chart of what GDP would look like (estimated) over the past 4 fiscal years if you stripped out that previous $1+ Trillion budget deficits (and any supposed multiplier effect of that spending).

Mon, 05/06/2013 - 17:40 | 3535544 silverserfer
silverserfer's picture

careful, theres a serial junker in our midsts. Probably one of those little Princeton bitches who cant get laid.

Mon, 05/06/2013 - 17:45 | 3535563 devo
devo's picture

Anyone can get laid.

Mon, 05/06/2013 - 17:47 | 3535568 DavidC
DavidC's picture

I can't.

DavidC

Mon, 05/06/2013 - 17:50 | 3535575 knukles
knukles's picture

What is he talking about?

Mon, 05/06/2013 - 19:26 | 3535853 lotsoffun
lotsoffun's picture

ask timmie and bennie

Mon, 05/06/2013 - 17:54 | 3535587 devo
devo's picture

Progressively lower your standards, and soon you'll find yourself balls deep in the best looking girl you can get.

Mon, 05/06/2013 - 17:56 | 3535592 prains
prains's picture

except they won't be girls

Mon, 05/06/2013 - 17:58 | 3535597 devo
devo's picture

yikes!

Mon, 05/06/2013 - 19:22 | 3535840 Pareto
Pareto's picture

funnier still!

Mon, 05/06/2013 - 18:51 | 3535768 Its_the_economy...
Its_the_economy_stupid's picture

@devo

 

REALLY funny!

Mon, 05/06/2013 - 20:50 | 3536134 New_Meat
New_Meat's picture

"if they don't meet your standards, lower your standards"

Mon, 05/06/2013 - 20:53 | 3536147 WAMO556
WAMO556's picture

She boys in Manilla?

Mon, 05/06/2013 - 19:43 | 3535892 Croesus
Croesus's picture

@ devo & silverserfer:

I can't even begin to stop laughing......since I've been having a bit of a dry spell lately.....and I'm wearing a Princeton Tigers shirt as I type this....(seriously, for real)........

Perhaps I should just try something new......like a fat redheaded midget, or something.

Mon, 05/06/2013 - 20:06 | 3535955 devo
devo's picture

Good sex is mostly about attitude, so if the midget likes getting plowed she'd probably be fine.

Give her a shot and let us know!

Mon, 05/06/2013 - 20:30 | 3536058 Croesus
Croesus's picture

@ devo:

I'll let you know how midget hunting goes! I can't say I've seen any around here, but there's no shortage of fatties.

http://www.returnofkings.com/9183/why-fat-women-should-be-sent-to-prison

 

Mon, 05/06/2013 - 20:53 | 3536144 New_Meat
New_Meat's picture

'course, if u attract a thang who would be attracted to a Princeton thang, then the thang would become solid gold, don't cha know.

then u are un-fucked and the gold has just lost like 15% or so.

I'd say: "go for it"

Mon, 05/06/2013 - 20:18 | 3536011 hooligan2009
hooligan2009's picture

you mean with another person right? :>)

Mon, 05/06/2013 - 18:09 | 3535625 barliman
barliman's picture

 

Princeton bitches can always get laid ... they just have to put a bag over the horse's head so he can't see what he is fucking.

Mon, 05/06/2013 - 19:08 | 3535814 ebworthen
ebworthen's picture

I don't mind girls with horse faces as long as they have a nice ass and nugget nipples, and I don't care if they are from Princeton or the Community College; as long as they are animated.

"I'm not bad I'm just drawn that way" or something like that.

Giddy-up!

Mon, 05/06/2013 - 17:46 | 3535566 DavidC
DavidC's picture

"Crickets".

Loved it!

DavidC

Mon, 05/06/2013 - 17:52 | 3535582 Stuck on Zero
Stuck on Zero's picture

Today, Warren Buffet and Bill Gates announced that it's good for the little guys to pay sales tax on Internet purchases.  How nice of these shills for the state.

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