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The Deer Returns On Fears Bernanke's Training Wheels Are Coming Off
One word can describe performance across all asset classes today: clobbered. Stocks tumble, Commodities slide and Bonds crash, with the 5 year suffering the biggest intraday percentage jump in yields... ever! And why? Because Bernanke confirmed what everyone thought they knew, namely that the Fed will start tapering (how else can the Fed match the reduction in gross Treasury issuance at auction without taking over the private market entirely) eventually. Or at least that's what the market read between the Chairman's lines. In reality, Bernanke himself is more dazed and confused than anyone out there and just like Europe, is making it up one day at a time.
Did the Fed's extraordinary actions increase or decrease realized vol?
leaving the S&P 500 at the lows of David Tepper Day...
Commodities were a one way street...
FX markets exploded with the USD bid (and if the bulls think carry will save the day - think again - this kind of vol means LESS carry not more)...
The Dow saw its 7th day of +/-100 p[oint days - first time since oct 11
Charts: Bloomberg and Capital Context
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< Ben's Ride
< Ben's Ride
This guy riding Ben when he goes to prison...
I wish I had CNBC today. BNN is all calm and discussing how in 5 years, give or take a year, commodities will be higher.
BNN is dogshit these days. Bunch of clueless retards on there now. The anchor Catherine Murray is from DB and Goldman Sachs.
BlowHorn of the Great White North.
When is The Hunger Games scheduled to come out this Fall?
"Stay hungry, my friends" Fed's new motto for 'Dos Ciervos' (Two Deer)
Had to sell everything to finance the $4 billion in IPO's today and tomorrow.
I 'hope' this market is down 10% in the next 2 weeks. Bernanke comes back in to pull his strings on the sheeple suggesting he will increase the $85bil buyback to whateverthefuck the printing press computers number can go to and the market says FUCK YOU and keeps plummeting. This is a pipe dream, but it is hump day and I'm allowed to have a wet dream.
Dutch high school dropout biting off his tongue on his first one hundred ZH articles gets the message. So the rest will too.
Boy is Hilsenrath going to be a busy little shitstick the next several months
Nice; I made $2200 being short one day; think I'll give it another day; since I don't really care. The whole front page of the CME is RED; like they ran out of green ink; except AGRICULTURALS; which are all GREEN. The British Pound is getting bitch slapped. nice quite day in the mrkets.
Why do I get more intoxicated when he takes the punch bowl away?
Because you think it's punch when it's actually oxygen. There's a whole lotta people turning blue about now...
Did the 3rd derivative in money supply change today? The certainly was an increase in the number of articles about the potential of them changing the rate at which they would continue to expand.
SpongBobSquarePants: "Let go of the dime".
Mr. Krabbs: "I can think of ten reasons never to let go of a dime".
The deer in the photo is not indicating danger. My dog gets the same expression on its face just before it starts barking like a banshee.
with the VIX barely moving...........call me crazy....but this is not anything more than some little tantrum.......................the markets will adjust..........and hopium will reign once again...................
Who controls the VIX? The 'Free' Market?
Speaking of Hopium... Just saw the Man Of Steel movie with the kids. Was intrigued that on Krypton, the "S" is not an 'S', but a symbol of Hope. Interesting.
Okay; you're crazy. now do you want me to call you a taxi?
It is funny how words absent from action can create such chaos. Just imagine how things will look once the Fed ACTUALLY DOES SOMETHING (not that I believe that they will.
Ducttaper your silver and gold. And get a water cleaner and emergency food so you can keep your dick for what it's made for. Today it's the deer, tomorrow it's the hyena.
I would never use my dick to clean water, or as emergency food.
??
Are some starting to realise that this is a bubble ?
Is this what stable markets look like ?
Eet ees zee pryse stabeeleetee...
You're cracking me up. No, this isn't what stable markets look like ! I was just thinking, on a scale of one to ten for the reaction they needed and wanted to Uncle Bens' Magic Rice commercial; they got about a three. Not Too Good.
What the f**k have they done to these markets ?
What haven't they done would be a shorter list.
Stocks are on thin ice close to signaling a primary bear market. If a primary bear market is signaled, the odds favor severe weakness ahead. Key are the June 5 lows, as explained and shown here:
http://www.dowtheoryinvestment.com/2013/06/dow-theory-update-for-june-12...
And today's GLD fall brought with it a re-confirmation of the ongoing primary bear market for gold and silver as explained here:
http://www.dowtheoryinvestment.com/2013/06/dow-theory-update-for-june-19...
And bonds falling out of bed....not a rosy picture, at least technically.
Yeah, the whole thing looks like shit alright. Is that technical enough?
Funny that there wasn't anything unexpected today. Everything had been telegraphed in advance. But the markets react vigorously.
Could it be that everyone was expecting a surprise?
"But the markets react vigorously. Could it be that everyone was expecting a surprise?"
I think it's their tantrum about the punch bowl possibly being taken away... maybe... if the economy follows the Fed’s “moderately optimistic forecast.”
Eh Ben... Ben.. Helicopters. Where are the helicopters? You said there would be helicopters Ben...
Ben.........
Those birds have flown, and flown, and flown-- just nowhere near Main Street, where the air-drops might have done some actual good.
Did you miss all the palletted-cash bonfires behind all those TBTF&J "Banks?"
So the Banksters commited all manner of fraud and criminal deeds, and crashed the Global Economy in 2007-8.
Then, they demanded a bailout, threatening to completely trash everything if they didn't get their loot. Then, they took the extortion money and promptly set most of it on fire, pocketing the rest as Bonuses.
Then, instead of putting their books right, and lending money to Small Business (as intended), they blew a slew of bubbles, and pulled off Fraudclosure scams, LIBOR scams, and Currency scams all based on the FREE MONEY they extorted from us Taxpayers.
Now, the Bernanke hints that he wants to taper the criminals from the FREE MONEY teat, and the Banksters throw a massive hissy-fit, and go right back into their extortion mode, again threatening to level the entire place for daring to cut off the protection money.
What a bunch of assholes. They should be SUPER THANKFUL they are not all in prison (thanks to Lanny Breuer's heartfelt love, and the inaction of Eric Holder, the Sleepy Janitor of Justice), and rejoicing that the FREE MONEY flowed as long as it did. Or worse-- they could very easily be facing mob-rule "justice," and hanging from lampposts right now, which I personally feel is the right and proper place for the lot of them.
Boy, I cannot wait to see these failed banks finally FAIL. Fucking ingrates.
I think you are giving way too much of a pass to the politicians. You really shouldn't be surprised if bankers make bad loans in bad neighborhoods, when the govenment (and sponsored) entities like fannie, freddie, HUD, FHA, etc are actively buying and insuring these bad loans, at the same time that banks are being sued for "racism" when they don't make enough bad loans in bad neighborhoods. You can't red-line out neighborhoods where loans cannot be made because, obviously, that would be discrimination based on racism (not based on who can pay back the loan as is required by law), to the crack dealers that live in crack-town. Now what banker in his right mind is not going to just make the bad loan and then sell it to the government, when that is what is happening?
But, I don't mean to give the bankers a pass either. They were obviously at fault as well.
"Boy, I cannot wait to see these failed banks finally FAIL. Fucking ingrates. "
They'll last longer than you will. Bennie's chopper isn't flying over your house.
Today is SOS. Just squeezing the unsquoze.
From:
The Chairman Just Killed The Bernanke Put: Fed Ready To Taper QE This Year
http://www.forbes.com/sites/afontevecchia/2013/06/19/did-the-fed-chairman-just-kill-the-bernanke-put-fed-ready-to-taper-qe-this-year/
"Effectively, this is the first step in the Fed’s exit policy, and as Bernanke has repeated tirelessly, it is contingent on incoming economic data."
How many times have we seen this "first step" then, a claim that they will begin tapering QE "contingent on incoming economic data"?
It looks like cash may be soon on the throne. Cash is KING in a deflation. Maybe a flight to safety coming soon from Europe to the USD. Probably a pronged rush to safety: the US and Asia. (Germany is going to get killed by Japan on exports. Hello Toyota/Lexus and goodbye Volkswagen, Mercedes and BMW. Spain, Portugal and Italy are on the edge. Germany will be the final nail in the coffin.)
The Bernank is between a rock and a hard place... printing more would be disastrous, tapering would be disastrous. This is the result of having academics in charge (economists who are clueless and have no idea how to run a business or make payroll or survive in the real economy; and MBAs who are also filled to the gills with false data and false importances regarding business).
Never thought the USA would be circling the bowl in my lifetime. A major flush is coming.
Replay of press conference:
https://www.youtube.com/watch?v=UMGas9ZbG9U
All comrades will stand at attention to receive the wisdom of the Central Planning Committee.
Oh, sweet deer, how we missed you!
Welcome home, Deer.
The whole family is sure to enjoy this savory southwestern casserole. A refrigerated biscuit crust and packaged taco seasoning make preparation easy.
Prep: 10 min. Bake: 25 min.
Ingredients
Directions"In reality, Bernanke himself is more dazed and confused than anyone out there . . ."
You'd be dazed and confused too, if you suddenly realized that the politicians have so screwed up the economy in the last 6-1/2 years (if not 12-1/2 years) that not even record high levels of money printing seem capable anymore of preventing deflation from becoming possible.
You cannot always (if ever) fix fiscal problems with monetary policy. They need to reduce the costs of doing business (and having employees) in the US due to the real costs of compliance with taxation, regulation, and litigation. We have tried their failed experiment of increasing these costs for the last 6-1/2 years. The economy has clearly become worse, not better, from these changes, and not even record high "stimulus" has prevented this. Don't things that become more expensive become more scarce, even if that "thing" is new jobs created? Yet, I fail to see how that can be fixed with easy money or Fed bond buying.
(And, by the way, maybe it would also be a good idea if Fannie, Freddie, the HUD, the FHA, and every other government housing program out there would stop buying up or insuring every bad mortgage ever written for bad homes in bad neighborhoods. Oh wait, I forgot, that would be racist!)
The Bernank doesn't understand inflation any more than I understand quantum physics.
What I do know about inflation is that fucking cereal, milk and diesel prices have been going up for years and my salary has not been moving up to compensate. My standard of living is going backwards while this fuck sits up there and continues to do only what is in the best interest of his puppet masters.
Yes. that's correct. And look at the posters on here who say there's no significant inflation; they're waiting for the deflation monster to come get them; "cash is king", etc. etc. Basic foodstuffs on the large wholesale level have doubled in the last few years. With more to come. learn to love oatmeal and water; eat one hen's egg a day; it gives you your protein; and it's affordable. fill up on Ramen Noodles. It's going to get worse.
As probably the greatest teacher of quantum physics, of all time, Richard Feynman, once said: "If you think you understand quantum mechanics, you don't understand quantum mechanics."
Squeezin' into expiry.
Wow, SHTF is about to start! Get some popcorn, sit back and enjoy the show. I love the smell of carnage in the morning!
I know this post is far down the list. Hopefully 1 normal'ish person reads.
Why is current shareholding structure of FRBNY not available to persue?
Has anyone taken a court action on this?
normal'ish
I would reply but I do not fit this condition.
http://normalish.typepad.com/
Yep, that's about the correct light level to harvest them but that's a tough shot from that angle and she is about to run away from the game cam.(note the canted rear leg) Then there is that brush in the way as well, which if you tried to hit, you could never reliably accomplish. If you try to avoid hitting the brush, you will invariably hit it every single time and especially so with an arrow.
Your best bet here? Shoot it in the neck. Neck roast is not that great anyway and can salvaged and made into ground venison or jerky.(don't use the bloodshot meat)
I see they managed to piss pound gold again out of the bullshit blabbermouthing. Fuck them, I will keep stacking and in the end we will see who wins. I know those fucks think they can print forever and get away with it. Until they can't.
For what it is worth, I have never seen the internet buzz so pissed off at statists as I have the last few weeks. Usually, that sort of thing comes and goes, but this time it seems to have some staying power.
Aim right between the eyes. It works for me.
The world is a contest of ideas, and Bernanke has been a thoughtful, loyal implementer of his employer's experiment for the nascent new world order.
Their strategy is wrong.
Finance floats on the great ocean of economics. Even Keynes would be outraged at how venal groups abused his theories - and he was a sadist, so that says something about the namby pamby want -something -for -nothing eejits in the upper echelons of this world; baby boombers, baby bumbers, feckless warmongers.
Pay up or shut up. Live according to your means ought to be the new motto, for every land.
No disrespect to China, but it's misallocation of resources is suicidal.
Greetings newengland. Some pretty fucked up shit going on out there these days. Feels kind of 2007ish in a way but far worse with all of the incessant MSM statism going on. I am amazed that anyone EVER thought they had any privacy online, on the phone or anywhere else. This is shit we have known about since the 20th fucking century FFS.
It's a little late for me to say, "I was just kidding". I wasn't and I am not. The rot is spreading. For Merkel and Obama to even make mere mention of the Berlin Wall coming down, while directly in front of them was a clear wall of presumably bulletproof glass? I think "the wall" has been rebuilt.
Yep, Manipuflation. The liars are being exposed in full public view. Good.
There is a war of ideas going on behind closed doors. O'bomba and Herr Merkel are in the front line for the first time. Let's see how their words fly or fail...
EG Even Brezinski of the Trilateral Commission is against the Cameron/O'bomba arming 'rebels' Al-CIAda in Syria.
No Merkel at the G8 summit. Hmmm....how long can the fat lady refuse to sing, and think Germany is an island prosperous on its own; isolated in its euro, failing; only winning if others suffer.
They made a movie about this recently called 'Now You See Me'...
https://www.youtube.com/watch?v=KzJNYYkkhzc
"Come in close...Cause the more you think you see, the easier it will be to fool you..."
"1st rule of magic, always be the smartest guy in the room."
Ave Imperator, deeruri te salutant!
Those who are dying in the name of this failed experiment have familes and comrades and communities who are more angry, than kneeling before the emperor with no clothes.
I look forward to the day when NATO , Europe and the rest of the world pays for its own wars instead of using the USA for its age-old hateful agendas.
That is you in particular, Britain and Europe. Herr Merkel: heil.
The Deer is back!!
STFT!!!!
What does the deer represent?
Fear in the darkness
Nice deer pic. I didn't get it at first, thought it was a bat.
LOL
That 50 year chart on percent change in the 5-year just about says it all.
Wheels to come off any moment now.