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Bill Gross Opines On Fed's "Deep Throat"
When even the man who runs the world's largest, $1+ trillion bond fund (excluding the Fed's of course) is publicly bringing attention to the disclosures by the Fed's favorite mouthpiece, you have to laugh, or at least crack a joke or two about market "fundamentals" (may they Rest in Peace).
Gross: Fed’s “Deep Throat” stops delevering for now. Markets await main man next week. Hilsenrath’s focus on policy rate VERY interesting.
— PIMCO (@PIMCO) June 14, 2013
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Markets are fucked. If they don't break down completly today, that just means you get another day to prepare.
Obummer phones Ben: http://www.youtube.com/watch?v=B7PM4ARjemY&feature=player_embedded
Anybody else read that tweet as "delivering?"
I thought for a second that the rat was being thrown under the bus for attracting too much of the wrong kind of attention.
Did Gross call the Fed a "cocksucker"?
Get the hell off Twitter and start managing my investment, fucker.
why is hilsenrath always smiling - that smarny, arrogant smirk
when will the lying and manipulation cease
we know the economy is on life support - ben cannot lessen the flow of drugs even a tiny bit or the patient is gone
He likes the taste of Bernanke's jizm
How are college kids ever going to be incentivized to move out?
It looks increasingly like that expensive college education is nothing more than a mindless consumer product at this point. People do it because it is expected and is still somewhat of a status symbol, much like wearing a Rolex or driving a Mercedes, but in reality college has become a money making scam for the schools. They know that 99% of the graduates will get little to no benefit from their degrees, even though they, and society, still hold up having a degree as the best path to success out there. Disgusting because it is a conscious, premeditated dilusion they are selling to the masses. We are past the time when college matters and are well into the realm of it's not what you know but who you know/ who you are related to.
I agree and disagree.
STEM degress are still important. The problem is that a majority of degress are the same as working for a few years ... but without the work.
I would suggest that philosophy is the one liberal arts degree that has real world value. It's too damn expensive though. Same with the STEM degrees; takes fucking forever to generate a positive ROI, and the coming immigration bill will cap/drop salaries considerably as tech/bio companies "insource" cheap foreign labor by the truckload (already being done, but will massively ramp).
Foreclosure, of course.
Gotta get some popcorn for this one...
Poor Bill no longer in the club on the outside looking in. Better buy some more treasuries and average down.
Thats why I listen to him. He's out of the club and his entire lifes work is getting shit on.
Think Man on Fire (the movie)... his words should be, at minimum, noted.
I got the title for Ben's book..
The Hard Way - How Inept Interpretation Destroyed The Global Economy.
Who cares what "Baby Breath" Gross has to say. He talks out of his mouth, and buys treasuries out of his ass.
Even the pros, if they're honest. are tiring of this charade. Only the used car salesman on CNBS have the gall to keep slinging this garbage!
Hilsenrath’s focus on policy rate VERY interesting.
Any care to assist me on why this aspect is 'VERY' interesting?
Is it becuase policy rates are a joke and non-starter vs the fact the statement leaves the door open for all other rate to rise?
Hilsenrath is a member of the FED jaw-boning team.
Markets did not do well with the suggestion of tapering, and 10 year T-Bill rates spiked.
By telegraphing that rates won't be raised by the FED, the markets can maintain their disconnect from reality and rates will remain suppressed.
Or as Brother Maynard sings...
"GO BACK TO SLEEP!"
all that is true but both of the articles Hilsy's articles contain nothing new. the interesting aspect is that by making him publish these articles the Fed communicates that they are watching the markets and that they are concerned with the markets reaction. question is whether this concern will extend to removing tapering off agenda altogether and until then- more of the same- wild daily swings based in marginal changes of market participants expectations for the Fed's QE tapering or not tapering......
Carrot closer to the mule's nose...carrot farther away...carrot closer...farther away...
My take: By focusing on policy rate he is not denying that tapering will occur sooner rather than later (may have already started in my opinion)
HilsenRAT is a FED-tool only, a useful idiot. Only the Bernank and a few selected others knows whats coming.
Where is Marilyn Chambers when you need her?
Alas...
Hillsy has some wig .
Speaking of throats, does Billy have that rag out of his yet? Listen to the guy....
Rather than "deep throat", with the associated Watergate or porn metaphors, etc., I think of Hilsen-wrath as more of a Cyrano style figure, whispering from the bushes what the Bearded One is too shy to blurt out himself. One can imagine he and Bernakus at lunch ("golly, can you tell these bond guyz to stop already, sometimes I get so angry ...")
These markets are going to take off again right after the 22nd. 2013 is going to be a banner year, suck all the public back in the market, and starting in 2014 start back down to sideways with a crushing blow in 2015/16. Ben can't back off the throttle and somewhere, sometime, inflation is going to start workign on the bond market When that happens, it all turns to shit and we have a revolution while were up to our eyeballs in the war the Obama is building in the Middle East. Say good bye to the economy, stability, Obamacare, SS, Medicare, markets and say hello to gold, silver, platinum, guns, ammo, water, food, generators. Revolutions are very bad things that people are incapable of imagining. No one goes untouched. Cheers
The prescription is to financially repress and devalue until debt is brought under control and comptetive equilibrium is restored. It may take over $3T more before inflation sets in. The Fed is likely to monetize most of the govi debt before this is over. The UK has run seriously negative rates for years now. The serious devaluation has yet to begin...Buying and holding the 2009 equity lows is the clear winner so far...