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Head Of World's Largest Asset Manager Says Taper "Imperative" To End "Bubble-Like Markets"
JPMorgan, Pimco, and now BlackRock, the world's largest asset manager, all join the bubble warning chorus. From Bloomberg:
- FINK SAYS IT'S "IMPERATIVE" THAT THE FED BEGIN TO TAPER
- FINK CALLS MARKET `OVER-ZEALOUS'
- FINK SAYS THERE ARE "REAL BUBBLE-LIKE MARKETS AGAIN"
So... when the three largest banks/asset managers in the US say that Ben Bernanke has blown the largest asset bubble in history and that the time to taper has come, will Janet Yellen once again turn a blind ear to warnings that come not just from the "tinfoil" blogosphere but the "respected" legacy financial institutions made up of serious people, and after the cataclysm admit that, just like last time, she "never saw it coming?"
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The Fed will never taper, quite the opposite. All hail Mr. Yellen.
Fink's the name
fucking you is the game
(never forget that)
Yes, somewhere in his remarks you know the Fink is talking his (big) book. Beware.
http://www.newyorkfed.org/markets/pdf/ml3_contract_blackrock.pdf
Yellen has not even started her tenure.... why all the hate for the nascent bull market ? We are just getting started.
Taper? Now that's funny!
ES is up (again) 0.30% mid day on no news, and well on the way to another all-time high.
Why would we want them to taper? What's the harm in a little extra fiat floating around for the corporations and politicians to play with?
And of course all this explains perfectly the rise yet again n the Dow & S&P and the take downs n the phony paper prices n the only 2 forms of real money.....AGAIN!!!
The END will come. How will we have the end? Taper now and we face an enormous crisis of undermined size. No taper will guarantee a crisis to end any potential future for our society. Pick your poison.
either way the poor wil still be poor
Next QE monthly dosage under BernYellen: 170 billion USD
If 85 billion USD monthly in Bernankbux is good, 2x that under Mrs. Debtfire is MOAR BETTER-ER!
Fink is a cunt and just another enemy of the American people. He'll jet off to his second passport issuer when things go south here.
There is no FuCKIN way I will listen to that MotherFuCKIN FINKster....I met this FuCKer courtesy of working in his son's so called hedge fund and this guy, like most zionists fucks on Wall Street cannot be trusted.
Or that it's so fucking obvious that the FED has blown a massive bubble yet again, that it can no longer be ignored even by the politically connected elites...
Maybe they're all getting into the "Peter Schiff was right" bandwagon, when this clusterfuck explodes...
Things are so bad, they cannot be ignored much longer...
For honor and for riches
I've labored long and hard for the bread
but on my corns too long you tread
you fine haired sons of B!TCHEZZZZ! -- Black Bart (reknowned for robbing Wells Fargo stagecoaches)
At least these made guys can point to their public warnings before they rip the faces off the muppets ! Clever.
There's NO fucking Taper on the Extreme Ponzi Makeover Show !!!!! Never Not Evaaaaaaaaaaaaaaaa.........
BLitchez!
Tapering, yeah right?! I'll believe it when I see it along with Unicorns, Fairies and Pixie Dust.
AND WHY SHOULD THEY?!!
THE WEALTH DIDN'T TRICKLE DOWN YET!!!
MOAR MONEY!!! MAKE IT RAIN!!! FLOOD IT ALL!!!
MAKE EVERYBODY A MILLIONAIRE!
Well, yes!
But, can I take my place in line ahead of you?
We need more QE to maintain the welfare mentality that has permeated through society; corporate, common, and otherwise. Forward citizens.
But But But aren't they the FED shareholders!??! GASP! Finally they are letting the lowly peons knows what the high masters are thinking.
/sarc. or should i say /serf
NOW ya tell me
So... when the three largest banks/asset managers in the US say that Ben Bernanke has blown the largest asset bubble in history and that the time to taper has come, will Janet Yellen once again turn a blind ear to warnings that come not just from the blogosphere but the respected legacy financial institutions, and afterward admit that, just like last time, she "never saw it coming?"
remind me again who calls the shots at the fed? Cause i'm pretty damn sure it ain't bernake or yellen
Re: Cause i'm pretty damn sure it ain't bernake or yellen
There's only two choices (?)
1) Ben and Jannet (and Alan) are tools of the masterminds of a world-wide conspiracy.
2) Economics is just another religion with duplicitous sociopaths and true-believing dumbasses, like every other religion that has ever existed.
this game has been played too many times for no. 2 to be correct....
Re: this game has been played too many times for no. 2 to be correct....
Somebody famous said: There's a sucker born every minute. That's what religion is for, to create bullshit for the dumbasses while the smart-n-savvy live their duplicitous lives and eat the dumbasses alive. It's call survival of the fittest.
its all a matter of perspective... if you believe this existence is nothing more than material in nature, why not... but if you think there is something a little more complicated going on behind the scenes, then focus exclusively on the material could have rather bad consequences. sadly, no easy answers. choose wisely.
Will the real G-d please stand up.
It's call survival of the fattest!
Fattest merchant bankers.
Fixed it for you
nah dude, its door number 3. The banks own the central banks, which the fed is the most powerful at the moment.
It must not be felt that these heads of the world's chief central banks were themselves
substantive powers in world finance. They were not. Rather, they were the technicians
and agents of the dominant investment bankers of their own countries, who had raised
them up and were perfectly capable of throwing them down. The substantive financial
powers of the world were in the hands of these investment bankers (also called
"international" or "merchant" bankers) who remained largely behind the scenes in their
own unincorporated private banks. These formed a system of international cooperation
and national dominance which was more private, more powerful, and more secret than
that of their agents in the central banks. This dominance of investment bankers was based
on their control over the flows of credit and investment funds in their own countries and
throughout the world. They could dominate the financial and industrial systems of their
own countries by their influence over the flow of current funds through bank loans, the
discount rate, and the re-discounting of commercial debts; they could dominate
governments by their control over current government loans and the play of the
international exchanges. Almost all of this power was exercised by the personal influence
and prestige of men who had demonstrated their ability in the past to bring off successful
financial coupe, to keep their word, to remain cool in a crisis, and to share their winning
opportunities with their associates. In this system the Rothschilds had been preeminent
during much of the nineteenth century, but, at the end of that century, they were being
replaced by J. P. Morgan whose central office was in New York, although it was always
operated as if it were in London (where it had, indeed, originated as George Peabody and
Company in 1838). Old J. P. Morgan died in 1913, but was succeeded by his son of the
same name (who had been trained in the London branch until 1901), while the chief
decisions in the firm were increasingly made by Thomas W. Lamont after 1924. But
these relationships can be described better on a national basis later. At the present stage
we must follow the efforts of the central bankers to compel the world to return to the gold
standard of 1914 in the postwar conditions following 1918.
At least you could take the time to reformat a cut-and-paste.
And to give an attribution. Credit where it's due, else it's plagiarism.
http://www.wanttoknow.info/war/tragedy_and_hope_quigley_full1090pg.pdf
read a book
Re: dominant investment bankers
Yes indeed, I forgot about door #3. The "dominant alpha male assholes".
Humans: the least stupid animal on the planet.
Peak peaks?
Twin peaks!
All REAL economists know that there is no such thing as a bubble because all participants in the markets are rational actors and all the information is known.
It is so written, so must be true, Amen!
I'm no psychic, but I think I can safely predict that when the SHTF, CNBC will claim No ONE saw this coming. They really should have Shiff on again, so they can laugh at him.
What?
Yeah go ahead and taper Ben...I dare you.
Did Kito post this thread ?
Yeah he's worried about losing another sandwich.
aheemmmm doc, we havent finalized the deal!!!
taper coming!!!!! almost there!!!!!
<--- QE to 4evah, "taper, que es eso"?
<--- Crash the economy (taper), fishez!
Place your bets!
Kito might be on the right track.
i will play the FX market tomorrow with a long USD/short Gold in mind.
I like that trade. ;-) Dollar shorts are squaring up in front of the Fed. as we speak.
http://imageshack.com/scaled/large/21/vaja.png
You bet. I have been watching the same thing. PESO, CAD, POUND....a lot of contenders for tomorrow.
I knew I could draw you out. Maybe you didn't see my reponse EKM. I'll post it again:
Okay Kito I am a magnanimous and forgiving person :) I will take your bet alteration as it stands. If the Bernank tapers next week I'lll buy you a sandwich, soda,( I'm sorry about your luck with bloomberg I'm not buying two to make up for your lack of big gulps) and a cookie.. If he doesn't then you have to do likewise for me.
HAHA!! ok we are ON!!!!! taper coming this week. hes going to shock the world. too many people are publicly getting nervous. time for him to shut them up.
Re: hes going to shock the world
WOW! Ben going out in a blaze of glory. Everybody panics, the world is in chaos. Janet comes in to save the day.
I like it, I like it. Good story line, lots of action.
@ kito and Dr. E
Please let us know how lunch went!
:)
Last week I wouldn't have believed it, except for two developments: 1) Bernank has built up a helluva extra cushion in the markets just in the last couple weeks, so a 10% correction won't hurt that much now, and 2) I finally capitulated and exited my shorts and flipped levered long.
After this weeks bond and equity market moves, I believe you are spot on! Profits have been distributed to the retail with 300 billion retail investor dollars on board for the slaughter. The question I have for you when did they (FED) make that decision? I thinking as late as this Monday?
FINK IN DA HOLE¡
Oh nooo, oh nooo you don't! You will NOT taper now! I want a full and total collapse that will wake the sheeple up and wipe out some rotten banks and governments in the process.
do NOT taper, I repeat - do NOT taper. We need a proper crash this time o_O
will Janet Yellen once again turn a blind ear to warnings?
It is incredibly difficult to do the right thing and prevent a bad outcome. Takes integrity and fortitude besides enormous price that you pay. Volcker was an accident of history. Yellen does not have these qualities. She is looking to cure inequality through easy money.
Yes. Lets start the false taper narrative again. Bring out the low brow clowns to tell us all the banks can stand on their own and government can survive on tax receipts alone in a dpression with interest rates over 15%. Perhaps, if you were interested in taper, you could get a taste of it by burning down your corporate office.
So tell me Larry, how do you guys all fit in that car anyway?
Is anyone slightly terrified by this?
Re: Is anyone slightly terrified by this?
Nothing will happen that hasn't already happened. The top 10% will be "made whole" is some way, the peasants will get screwed, the dumbasses will blame the Red or Blue Team that they don't worship. It's part of the American survival-of-the-fittest scam game. It's been working great for about 200 years now. It was imported from Europe where it worked great for about 2000 years. China has been running their game for about 5000 years.
It's so simple, even a cave man could do it.
Nice narrative, + 1
@rp1
We should all be worried that we are part of a largest Ponzi scam ever run. Even if you have bourbon, bullets, beans and bullion, the golden horde is going to be a bitch to contend with.
Long and heavy levered. God blessed me.
Over
Calamity Janet is our new savior. Now kneel before Yellen.
got it wrong Janet is going to be taking over the kneeing from Ben.... Wall Street keeps those FED lacky just where they want them
Just wait 'til the bitch doubles QE.
time to buy moar
all dips to be bought
fink lies
IF THE MARKET WAS A BITCH I'D LIKE HERE TO BLOW ME!!!
Well the BITCH IS already screwing you and me...
Oh, NOW it's a bubble? Huh, and I thought the bubble was popped in 2008 and we just couldn't have that...BLK must be short or something.
Doesn't Pimco get good returns from lowering yields?
Talking Heads jump on bubble bandwagon.
I'd be willing to bet that ZIRP will be a permanent policy very soon. FOMC will be abolished as well.
.... Five years is permanent enough for me.
1929... there were very very few articles in the papers about bubbly markets... very very few people thought of a bubbly market.
Today...there are so many people who believe in a crash... the neighbor who did not know anything about markets now belive the stock market will crash. The next door metal worker, who asked himself...if the market is going to crash. The salesman in the local market is concerned...
I don't really know but... To me it seems that too many people are aware of this problem.
It is said that...if the average person want's to sell the market... the trader should buy.
What's with your community?? Do people think the same way as here?
Re What's with your community?? Do people think the same way as here?
Most people here pray (even the athiests) for the market to crash and then watching the Righteous Sword of Libertarian Justice slay all the speculators (unless they are speculating in gold).
Re: To me it seems that too many people are aware of this problem.
Yes, the market can't crash until everyone knows it's never going to crash (unless the Hindenburg Omen poops out a black swan).
1929
actually here are some articles from 1928
http://news.google.com/newspapers?id=TG8tAAAAIBAJ&sjid=KIwFAAAAIBAJ&pg=6...
People don't care about the market around me. Barely anyone has anything invested in it. Everyone is too busy trying to keep their jobs and figure out how to sell their home with values dropping back to 1980s levels.
They want the market to crash so they can the rich fucks that destroyed the economy crying outside their $25 million mansion that's worth $100k when there isn't anyone left that can afford to buy it.
People in my town are about ready to string up the mayor because he has a $60k allowance per year for a car and chauffeur. So the city leases a car for the mayor and pays somebody to drive him around, it's been that way for the last 100 years in my town. Apparently nobody knew that. The guy running against him is an absolute socialist that is going to add massive amounts of public sector debt, but people are pissed that the mayor gets a car. The socialist is running completely on getting rid of the mayor's car, which he will probably keep when he wins.
I think more people are saying "BTFD", the Fed has our back.
Embrace the horror. The only thing worse than the volatility this hyperinflation is creating will be the volatility the next hyperinflation creates. You can give a banker 4 trillions dollars, but you can predict how he will bet it.
The large asset managers would rather lose half their QE fueled gains than lose 100% of their gains. They hope the Fed can create a slow withdrawal and controlled stock market devaluation allowing the big asset managers to transfer as much as they can to the bagholders, preserving as much wealth as they can.
If Yellen continues QE inifnity2, the risk is another spectacular collapse that unfolds faster than any other in history and wipes out 1% wealth before it can be booked as realized gains.
These guys know the real numbers. They know millions of cars have been sold to people that can't afford them. They know real home prices outside the bubble markets are still falling, and that Obamacare is going to decimate disposable income.
All of this was readily apparent last year at this time. The epic one year rally in stocks was a suckers rally to finally bring in retail investors. Nothing like a 500% YTD return to sucker in a retail investor thinking they'll see the same in 2014.
iChan isn't stupid. He liquidated his Netflix position for a reason. He's trying to get Apple to buy back all his shares for a reason.
Fink caught with his longs down...Apparently. Come on Fink, step right up and and buy the all time highs its different this time.
Fink isn't selling anything. He just wants to trick everyone else into selling.
Nice. Nasdark is broken again.
.... Its only a glitch. Good thing too, that frozen Nasdaq future was so creepy - like it stopped going up or something.
dealbook.nytimes.com/2011/06/06/dealbook-portraits-laurence-d-fink/?
So after you made all that money you're warning to keep it of value?
SPY pushing towards up 100 in two weeks... See Oct 14, SPY 1680
Rhino Horn Blow Off,
If you're up 300%, wouldn't you want the market to cool off....after you quietly dumped your longs.
Taper??? Expect greater and greater amounts of QE. It's why Bernanke is leaving.
Bernanke's son has over $400,000 of school debt. It's why he told his son to borrow as much as he could to become a physician. His son will pay back his loan with toilet paper.
It´s all about inducing fear and keep the market coming back for hedges/shorts to squeeze after new bullshit information is released (FOMC-minutes). The FED will comunicate nothing and everything at the same time as usual to keep the muppets confused. As long as they keep warning and talking about how screwed up things are the market will keep on ramping time after time.
"We can't stop! We have to slow down first!".
Why is this heathen trying to steal my Fed money?
I'm switching to CNBC for a balanced view on the subject.
Bubbles don’t end..
They pop.
Reads like these cocksuckers are sold out and positioned short.
Call the Fed and tell them to shut down the printers.
Time to put a ball in the mouths of the bag holders, bend them over and fuck them bad.
Dream on. Reads like they want a dip so they can buy moar.
Bill and Larry like to make money for their clientele, not so sure about Morgan, but 'JP' has clout/ connections with right people.
No more wars... spending trillions (min. $3tn/ jmo?), and a reset in the $PetroDollar would be nice if China would like a $YuanPetro? Let them deal with the Muslims! Ask Myanmar how that's working out with the genocide by the Buddhist(?)... and China's Dali Lama-- Mr Budda himself, incarnate? Other than Syria, Iran, Iraq, China would have a ball dealing with 'Cultural Disputes' in which they say 'No Mas'!
Lots of $$$PetroDollars to be made in Iraq, Iran, and Syria (rebuilding entire infrastructure)! Right now Russia has contracts for billions of Iranium $$$'s to build Nuclear Power bringing the country into the 21st century, as will Iraq follow if we fianally agree to Iran's 20% HEU for Medical and Agriculural purposes signed and sealed by a NPT/ Additionl Agreement via the IAEA and drop the fucking sanctions, period!
Think of the money America could make in bringing Iran, Iraq, and Syria into the 21st century. This money will bolster our treasury increasing our GDP--- and it works both ways? Surprise!
So what does this have to do with, 'The STOP`Tapering Gambit? NO Wars, Work with Iran/Iraq/ Syria, export our excess crude, and more R&D on E/V Auto's while building out the fuel`line infrastructure for FlexFuel vehicles and Hybrids (battery technology) and our fuel consumption should drop by 20-30% in 5years max. Ten years ago you got 15-25 mpg,... today you get 35-45mpg.--- 5 years from now once hybrids and E/V's are ubiquitous america will be totally energy independent. Think of the money we save as a country...? No more importing, but exporting, while we watch the jobs created by this technology takeoff!!!
Fuck the FRB System, I'm for Bill, Larry, and Curly... the Jamie Morgan Diamond? Time to take our medicine... swollow hard?
jmo
The best market cycle analyst, Martin Armstrong, is looking for DOW 21,000 before 2016.
It's insanity but he will be confirmed when Yellen ranps QE.
Over.
It's been 10 months since the BIS issued is last global warning saying things were getting all 2008-bubbly again. And who did they say was doing it? Oh, just the Central Banks. Somehow derBanke's market gurus didn't even notice.
Show this, it is decisive
http://patrick.net/forum/?p=1230886
So the question is, do the 3 biggest money managers now have their massive shorts in place and are ready to cash in, or, they shorted way too early and are getting killed and thus need a stick save down?
They sure aren't warning us out of the kindness of their heart.
Fink was Go Go Geithner's #1 Go to.
Fink was persistent that quities would rally since early 2012
Fink controls the largest ETF complex in Ishares, critical via rebalance to walk core constituents higher
So if Fink is warning the ishares complex must be about to explode.
"Is no big deal", bitchez.
Pass it down.
8-)
Genie Yellen won't ge back in the bottle! Dow 20 million!
"They don't know what they're talking about." - Bernanke, Yellen, et al.