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Quote Of The Day: Fed Forecasts vs Reality Edition
For today's quote of the day, we go to Boston Fed's president Eric Rosengren who just had the following pearl of wisdom:
- ROSENGREN: `REALITY DOESN'T ALWAYS LIVE UP TO OUR FORECASTS'
At least he didn't say it is reality that is wrong and the Fed's forecasts being fundamentally correct.
As for the accuracy Fed's forecasts, well we already know the story:
So how does this Fed member propose to deal with a Fed that is, well, always wrong?
- ROSENGREN: RISKS TO OUTLOOK MOSTLY ON DOWNSIDE; FED MAY MISS GOALS ON JOBS, INFLATION THROUGH 2016
- ROSENGREN FAVORS `VERY SLOW' STIMULUS REMOVAL OVER MANY YEARS
In other words, because the Fed has been wrong all along (and is the reason why there is no recovery and merely one 5 year and counting attempt to shovel all that is broken in the system on the balance sheet of the world's biggest hedge fund), the Fed will do more of the same over many years.
Einstein must be spinning in his grave.
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HAHAHA no shit, it never does
Darn you Reality!
*shakes tiny fist*
Darn you to Heck!
There you have it.
The .gov shutdown is the justification for an increase in QE. Jamie and Lloyd are delivering the message to BO.
Reality? What's that? Does this market reflect reality?
I know, dumb question.
Who is "buying" this market and driving the R2000 to new heights?
R2000 has had a 45% CAGR since Nov of 2012! Incredible what a little POMO can do.
You mean they really can't see into the future ? Son of a .......
(FED) ROSENGREN: `REALITY DOESN'T ALWAYS LIVE UP TO OUR FORECASTS'
The above must be the Understatement of the Decade.
Their forecasts are the way they justify all the manipulation. They are simply admitting that sometimes the manipulation is not as effective as they would like it to be.
LOL.
Is it all over this weekend??
Russian Market ‏@russian_market 2 min
#BOOM CEOS OF GS, CITI, JPM, HSBC, MS, DEUTSCHE, OTHER BANKS ATTENDING MEETING WITH OBAMA - WHITE HOUSE
READ: Arrogance.
The fact that he didn't say, "Our forecasts don't live up to reality" implies that he believes Fed forecasts ARE fundamentally correct.
Fed pricks.
+1
Yeah, that's basically my take as well.
Reality is overrated.
Reality is for those who are allergic to mood and mind altering substances...
DaddyO
A nice bullshit way of not having to say "we were wrong".
(Actually, can a REAL economist be wrong?)
"the Fed will do more of the same over many years."
repeat this over and over. If in doubt, punch yourself in the face.
S/B: "Reality NEVER lives up to our forecasts"
Deer [in the headlights] Rosengren,
Did you learn this in the school of "hard-knocks", or in your socialist economic classes from college? I'd love to know how you came to this earth-shattering conclusion that every first grader learned right after he learned to talk. WTF.
http://vegasxau.blogspot.com
I'm trying to think of clever, funny things to write, but honestly can't come close to beating Rosengren's gems.
I won't even attempt to.
What can anyone expect from a lying, delusional, psychopath?
Apparently compliance with the law
http://www.nbcnews.com/business/143-year-old-law-has-lawmakers-treading-gingerly-during-shutdown-8C11319714
This paragraph is the best
The law is the Antideficiency Act, passed by Congress in 1870 (and amended several times), which prohibits the government from incurring any monetary obligation for which Congress has not appropriated funds.
While .gov is open though they have no problem suspending the antideficiency act.
Article by crowd favorite Steve Liesman...
The macro news out of Europe, Asia & the U.S. was shitty overnight and the markets completely ignore it. What a fucking joke this money printing world has become!
Inconceivable that douches like this are running the financial system.
"Power comes from the barrel of a gun."
Re; Inconceivable that douches like this are running the financial system.
Who else "runs" financial systems? Duplicity is an evolutionary advantage. The difference between the "adults" and the "children" is how they deal with duplicity.
The financial system is always run by the most adult "adults".
Surgeon General's Warning: Legally stealing trillions of dollars can be highly addictive.
He could have said the obvious; we will change reality to meet the Fed's forecast.
Forecasting is much easier in the context of central planning.
Reality!? Our reality vs. THEIR reality are 2 completely different things!
somebody somwhere aptly pointed out that someone that commits the same mistakes over and over expecting a different result must suffer from Bernankeism.
"It's easy to predict the future - it's just that the future doesn't always listen."
At least he didn't say it is reality that is wrong and the Fed's forecasts being fundamentally correct.
Thereby distinguishing himself from the AGW goofballs.
Fed to Reality: "Get off my lawn!"
Starting to see a black swan in the distance. Might sell everything
It's just a financial vulture circling DC.
Here is another quote of the day:
Maxine Waters, Ranking Member of the House Committee on Financial Services, released the following statement: "I am outraged by the increased costs of flood insurance premiums that have resulted from the Biggert-Waters Act"
LOL, sounds like they need less waters.
Yeah, well it's actually worse because his perceived "Reality" is 7.3 percent unemployment, Almost 0 inflation, stable housing and the ability to print to help the economy.
There is so so so much Slapstick around this government and financial markets that even Dead comedians are coming out of retirement.
All I know is that reality is not what it used to be.
What a jackass
"Predictions are difficult. Especially about the future."
Yogi Berra
Reality has way too many variables to forecast. That is the problem with the FED, their forecasts are conducted in a vacuum on paper with only so many variables accounted for in the equation.
I just want to know if there will be an end of day stick save?
Spookiest markets I have ever seen. How long can they keep it up???? (Literally. Get your mind out of that gutter ;)