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Beige Book Exclaims Modest, Moderate Economy And 'Strong' Housing - Full Beige Word Cloud Included

Tyler Durden's picture




 

Moar 'm' words from the modest boring of backward-looking release - The Beige Book. Unable to say the word slow, it seems 'modest', 'mild', and 'moderate' are the adjective of choice. But there is a bright spot...

  • *FED: BEIGE BOOK BASED ON INFORMATION GOTTEN ON OR BEFORE MAY 24
  • *FED SAYS GROWTH WAS `MODEST TO MODERATE' ACROSS MOST OF U.S.
  • *FED: HOUSING INCREASED AT `MODERATE TO STRONG PACE' ACROSS U.S.

and we know what is happening there now. So we assume this is the 'growth' that brings 'teper' chatter - hhmm.

The beige cloud:

And the entire book in all its boring glory:

 

 

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Wed, 06/05/2013 - 14:09 | 3626990 catacl1sm
catacl1sm's picture

Pew Pew! .... what? I'm sorry, I wasn't paying attention to this bullshit any longer.

Wed, 06/05/2013 - 14:11 | 3626999 camaro68ss
camaro68ss's picture

Moderate Economy and strong housing?

Well if thats the case, im going all in. Thanks The Bernake

Wed, 06/05/2013 - 14:14 | 3627010 Navymugsy
Navymugsy's picture

BTFD! Don't let the terrorists win!

Wed, 06/05/2013 - 14:17 | 3627027 camaro68ss
camaro68ss's picture

Im taking a 2nd on my house right now. Thanks for the advice!

Wed, 06/05/2013 - 14:28 | 3627070 eclectic syncretist
eclectic syncretist's picture

Oh Yeah!!!!! The housing market is fucking flying dude!!!!  Just ask anyone stupid enough to listen.

The Beige book LOL.  Isn't the color of dried bullshit beige?

Wed, 06/05/2013 - 15:13 | 3627247 Stoploss
Stoploss's picture

CODE BLUE!!

CODE BLUE!!

 

AAPL's about to fall out of the cart!

Wed, 06/05/2013 - 14:30 | 3627079 Never One Roach
Never One Roach's picture

With zero-down I'll take 12....better make that a Baker's Dozen.

Wed, 06/05/2013 - 14:09 | 3626991 Oh regional Indian
Oh regional Indian's picture

I read the full beige book. I swear I did.

It was a pallid read.

ori

Wed, 06/05/2013 - 14:35 | 3627100 machineh
machineh's picture

Fade to beige ...

Wed, 06/05/2013 - 14:09 | 3626994 slaughterer
slaughterer's picture

Beige Book today is detached from economic reality = Bullish.   

Wed, 06/05/2013 - 14:10 | 3626996 insanelysane
insanelysane's picture

FED Says that at $85b/month it is a bargain.

Wed, 06/05/2013 - 14:16 | 3627001 SheepDog-One
SheepDog-One's picture

Nowhere NEAR bad enough to provide the POMO Brawndo that's what stawks really crave! 

Wed, 06/05/2013 - 14:13 | 3627005 ejmoosa
ejmoosa's picture

Reading that report is like reading 1984.

Wed, 06/05/2013 - 14:14 | 3627007 fonzannoon
fonzannoon's picture

They just re released the report from a few months ago because no one can find Bernanke.

Wed, 06/05/2013 - 14:20 | 3627033 camaro68ss
camaro68ss's picture

He's purchasing a bigger chopper for the up and coming 120 billion dollar monthly QE.

When all else fails, GO BIGGER!

Wed, 06/05/2013 - 14:32 | 3627088 gatorengineer
gatorengineer's picture

well lets go back to the old fairy tale, that the market leads the real economy by 6 months, its not pricing in the 120 yet.

Wed, 06/05/2013 - 14:15 | 3627012 SheepDog-One
SheepDog-One's picture

And the funniest headline eva from a couple hours ago from Yahoo Finance- 'DOW a sea of red....investors hope for clues in FED beige book'.

AHH HA HA HA HAAA!!

Wed, 06/05/2013 - 14:19 | 3627032 Bay of Pigs
Bay of Pigs's picture

Don't taper me bro!

LOL...the bullshit is getting neck deep now.

Wed, 06/05/2013 - 14:21 | 3627043 fonzannoon
fonzannoon's picture

they are once again having a bit of a malfunction in equities so lets just go ahead and freeze gold at 1400 and the 10yr at 2.10%  until we can knock brent crude down.

Wed, 06/05/2013 - 14:25 | 3627061 Bay of Pigs
Bay of Pigs's picture

I could see you in the chair next to the William Dudley yelling instructions to the army of monkeys pounding the keys at the NYFED.

 

Wed, 06/05/2013 - 14:29 | 3627075 fonzannoon
fonzannoon's picture

the only instructions i would yell would be for them to jump out the window.

The fact that we are down over 200pts and the 10yr is pegged to 2.10 and not rallying only leads me to believe that shit is really going haywire in japan and people are being forced to dump treasuries. 

treasuries should be rallying a hell of a lot more.

Wed, 06/05/2013 - 14:38 | 3627110 machineh
machineh's picture

... unless rental houses are the new Treasuries.

Only your Realtor(tm) knows for sure.

Wed, 06/05/2013 - 14:18 | 3627023 Dr. Engali
Dr. Engali's picture

Does it say in there if we are supposed to put our 15,000 hats back on, or leave them off?

Wed, 06/05/2013 - 14:18 | 3627028 catacl1sm
catacl1sm's picture

Just put it on sideways until the end of the day.

Wed, 06/05/2013 - 14:39 | 3627118 machineh
machineh's picture

Just talk through it like Bernank does.

Wed, 06/05/2013 - 14:18 | 3627030 pragmatic hobo
pragmatic hobo's picture

leave if off for now ... usually the market gets ramped into 14:30 EST but not today ... probably a sign the BTFD'ers are gonna get raped today.

Wed, 06/05/2013 - 14:21 | 3627042 madcows
madcows's picture

I dunno.  Margin calls on yesterday's BTFD could bring her ripping back, along the PPT and the HFT Algo.  I call -50 on the day.... or - 200, whichever is closer.

Wed, 06/05/2013 - 14:22 | 3627048 camaro68ss
camaro68ss's picture

Where’s Cramer, HOUSE OF PAIN

Wed, 06/05/2013 - 14:23 | 3627051 JuliaS
JuliaS's picture

15000 is a lot of hats.

Wed, 06/05/2013 - 14:32 | 3627084 Dr. Engali
Dr. Engali's picture

As a father of three being pulled in all directions, I sometimes wear what feels like that many.

Wed, 06/05/2013 - 14:17 | 3627025 vote_libertaria...
vote_libertarian_party's picture

uhhhh....so QE will be unplugged???

Wed, 06/05/2013 - 14:17 | 3627026 Bay of Pigs
Bay of Pigs's picture

Beige is the new black

Wed, 06/05/2013 - 14:20 | 3627036 adr
adr's picture

So gas is now $4.00 at my local stations.

 Summer demand right?

What fucking BS. Looking like 2008 all over again. Do I get to see the all time high of $4.38 taken out by July 4th?

Wed, 06/05/2013 - 14:23 | 3627052 madcows
madcows's picture

I can remember the pump shutting off at $75, while filling up my "High Fuel Milage" sedan.  Ah, those were the days.  Of course, now they set them to shut off at $100.

Wed, 06/05/2013 - 14:40 | 3627125 Toolshed
Toolshed's picture

What part of the country are you $4+ gas buyers in? Here in central Florida it is still $3.40ish. Seems like an unusually wide variance to me. Anyone know what's up with that?

Wed, 06/05/2013 - 14:22 | 3627046 Catch-22
Catch-22's picture

IF ZERO HEDGE LOSES ITS EDGE, THE ONLY THING LEFT IS “ZERO”.

(Never mind the long enough timeline)

I’ve been here for quite a while as a member (before that, an observer) and I have a bone to pick…

The reason the Bernank has been crowned here Chairsatan is because of his involvement into every market imaginable, directly or indirectly, and it’s complete success in distorting those markets in favor of what the CB deems GOOD.

Right?

Had he not been successful he would have been nobody. The anger of folks here, with some losing their livelihood because of his actions is a testament to him achieving his goals.

Still with me?

If reflating the housing bubble (right or wrong) will give the ultimate “appearance” of total CB (and government) success for a while by pulling Joe Average from underwater, pushing others into equity position so they can use their houses as ATMs again, fixing the banks balance sheet and sending the whole country into economic euphoria (utopia)…

YOU REALLY THINK HIS GOING TO FAIL AT THAT NOW???

Doesn’t matter how much you hate the new normal… ZH was always about accurate depiction of the financial reality and the intricate elements at play. The constant drumbeat of housing collapse in recent ZH articles has me concerned… there is plenty of room for an enormous bounce before it all ends badly. Remember SPX. And if the bounces don’t count, there is no point in reading ZH as the destination in a “long enough timeline is zero”.

 

Rant off/

Wed, 06/05/2013 - 14:28 | 3627073 Bay of Pigs
Bay of Pigs's picture

"there is plenty of room for an enormous bounce before it all ends badly"

Aren't we there already?

Wed, 06/05/2013 - 14:35 | 3627098 gatorengineer
gatorengineer's picture

my area we are already on the downside of the bounce already..... by September we will be 10 degrees down bubble.

Wed, 06/05/2013 - 14:32 | 3627087 Winston Churchill
Winston Churchill's picture

So far ,so good.  Capt.Smith, RMS Titanic.

"you can ignore reality,bt you cannot ignore the consequences of ignoring reality".Will

be Ben's(and ours) epitath.

Wed, 06/05/2013 - 14:36 | 3627105 Toolshed
Toolshed's picture

Sorry if the facts disturb you. Reality sucks.....deal with it, or go back to Minyanville for your sugar coated pablum and cartoon time.

Wed, 06/05/2013 - 15:56 | 3627393 Meremortal
Meremortal's picture

OMG, Catch-22, you are thinking instead of just knee-jerk-posting your favorite snarky comment.

This kind of behavior could lead to learning things and making money (Well, not REAL money of course, but Bernanke-dollars are still working for the moment.)

Who let you out of the groupthink box? I see red arrows in your future, a veritable pincushion you will soon be.

Wed, 06/05/2013 - 14:25 | 3627050 oddjob
oddjob's picture

Richard Fisher on BNN this morning....called himself a hawk no less than ten times...but when asked for the slightest detail on when or how much to taper bond purchases he was silent.

http://watch.bnn.ca/#clip940949

Wed, 06/05/2013 - 14:40 | 3627127 Bay of Pigs
Bay of Pigs's picture

Richard "Dick" Fisher is a well known liar trying to play the "good cop" much like Bart Chilton does at the CFTC. 

There are no FED hawks. That shit went out the window when QE started almost five years ago in Nov, 2008.

Wed, 06/05/2013 - 16:01 | 3627404 Meremortal
Meremortal's picture

Good for Fisher. The FED is getting exactly what it wants without tapering and that's the whole idea. Jawboning is back and it's working for now.

This fall the FED can lower it's purchases to from 85 to $83 billion a month and say, "We're tapering!"  

When the wave is bigger than you, ride it.

Otherwise it will drown you.

 

Wed, 06/05/2013 - 14:34 | 3627093 Never One Roach
Never One Roach's picture

I guess some Zynga employees will miss out on this housing recovery:

 

SAN FRANCISCO -- Beleaguered game maker Zynga zapped 520 jobs today in a deep cost-cutting move that increases questions about its future.

The company, based here, said it will lay off 18% of its workforce worldwide and shutter offices. Zynga declined to say where but sources, who asked not to be identified, said the locations are in Los Angeles, Dallas and New York. Zynga says the move, which should be completed by August, will save it $70 million to $80 million.

 

http://www.usatoday.com/story/tech/gaming/2013/06/03/zynga-layoffs-mark-...

 

At least it's the 'Summer of Recovery'...helps soften the Blow.

 

Wed, 06/05/2013 - 14:57 | 3627189 MFLTucson
MFLTucson's picture

6 Trillion since Obama and 17 Trillion total and there is "moderate growth" at best?  This is nuts!

Wed, 06/05/2013 - 17:21 | 3627643 evernewecon
evernewecon's picture

 

 

 

http://www.ritholtz.com/blog/2012/08/understanding-price-dispersions/ 


 
 
 

"44% of Homeowners With a

Mortgage Can't Sell"

Shanthi Bharatwaj, Zillow, 5/24/2013

http://www.thestreet.com/story/11933280/1/44-of-homeowners-with-a-mortgage-cant-sell-zillow.html?cm_ven=RSSFeed 


 
 
 

"Underwater homeowners

find they've become

accidental landlords"

Diana Olick cnbc.com, May 24, 2013

http://www.nbcnews.com/business/underwater-homeowners-find-theyve-become-accidental-landlords-6C10064290 


 
 

http://pages.citebite.com/c1e7w0g5t0rar 


 
 

http://www.truthdig.com/eartotheground/item/the_housing_shell_game_20130503/ 


 

http://www.zerohedge.com/news/2013-05-21/goldman-confirms-recovery-hopes-have-gone-slowdown-deepens 


 

http://www.businessinsider.com/keith-jurow-us-housing-recovery-mirage-2013-4?page=1 


 

http://pages.citebite.com/v1i5c9f0h7akf 


 

http://finance.yahoo.com/blogs/daily-ticker/housing-bubble-2-0-david-stockman-133026817.html 


 

http://www.cnbc.com/id/100435276

http://www.banks.com/articles/foreclosure-starts-surge-32-states

(I think this and the mortgage release program

http://goo.gl/kb1XL

will actually start to hammer on the r.e. market.)

http://www.zerohedge.com/news/2013-05-28/keeping-recovery-dream-alive-3-big-banks-halt-foreclosures-may

http://www.zerohedge.com/news/2013-04-10/housing-recovery-shifts-contraction#comment-3433151

http://www.rickackerman.com/2013/03/real-estate-bounce-setting-up-a-second-crash/

http://www.zerohedge.com/news/2013-05-22/mortgage-applications-have-biggest-may-collapse-financial-crisis

http://www.zerohedge.com/news/2013-05-21/housing-unrecovery-here-lumber-enters-bear-market

Banks Squeeze Market Supply

Further To Juice Prices

Fountain Valley News By Way Of

ochousingnews.com, 5/31/2013

http://ochousingnews.com/news/banks-squeeze-market-supply-further-to-juice-prices

Mortgage Apps Plunge

Fastest Since 2009

http://www.zerohedge.com/news/2013-05-29/cash-and-tarry-mortgage-applica...


Big Investors Split;

Suckers Take Over

Both ZeroHedge, 5/29/2013


http://www.zerohedge.com/news/2013-05-29/meanwhile-big-investors-quietly-slip-out-back-door-housing-stupid-money-jumps

Keeping The 'Recovery'

Dream Alive; 3 Big Banks Halt

Foreclosures In May

Zerohedge, 5/28/2013

http://www.zerohedge.com/news/2013-05-28/keeping-recovery-dream-alive-3-big-banks-halt-foreclosures-may

http://www.businessinsider.com/keith-jurow-us-housing-recovery-mirage-2013-4

 

Market Controlled Insecticide

Related Fructose Foundational

GMO's Have An Implicit

Monopolistic Value Chain Box,

The Health Cartel A Stipulated

One, And The TBTF Banks An

Infinite One.

Wed, 06/05/2013 - 18:37 | 3627875 max2205
max2205's picture

Its all good.  3% corrections are healthy

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