Head Of World's Largest Asset Manager Says Taper "Imperative" To End "Bubble-Like Markets"

Tyler Durden's picture




 

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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Tue, 10/29/2013 - 11:57 | 4101584 FieldingMellish
FieldingMellish's picture

The Fed will never taper, quite the opposite. All hail Mr. Yellen.

Tue, 10/29/2013 - 12:02 | 4101600 Zer0head
Zer0head's picture

Fink's the name

fucking you is the game

 

(never forget that)

Tue, 10/29/2013 - 12:10 | 4101636 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, somewhere in his remarks you know the Fink is talking his (big) book.  Beware.

Tue, 10/29/2013 - 12:22 | 4101688 King_of_simpletons
King_of_simpletons's picture

Yellen has not even started her tenure.... why all the hate for the nascent bull market ?  We are just getting started.

Tue, 10/29/2013 - 12:28 | 4101711 Say What Again
Say What Again's picture

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?

Tue, 10/29/2013 - 12:36 | 4101758 Kaiser Sousa
Kaiser Sousa's picture

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!!!

Tue, 10/29/2013 - 12:37 | 4101769 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

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.

Tue, 10/29/2013 - 12:43 | 4101790 silverserfer
silverserfer's picture

either way the poor wil still be poor

Tue, 10/29/2013 - 12:50 | 4101818 TruthInSunshine
TruthInSunshine's picture

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!

Tue, 10/29/2013 - 13:27 | 4102004 Colonel Klink
Colonel Klink's picture

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.

Tue, 10/29/2013 - 13:49 | 4102097 Divided States ...
Divided States of America's picture

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.

Tue, 10/29/2013 - 12:30 | 4101727 Skin666
Skin666's picture

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...

Tue, 10/29/2013 - 12:33 | 4101743 zapdude
zapdude's picture

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)

Tue, 10/29/2013 - 12:03 | 4101611 Rainman
Rainman's picture

At least these made guys can point to their public warnings before they rip the faces off the muppets ! Clever.

Tue, 10/29/2013 - 12:07 | 4101625 prains
prains's picture

There's NO fucking Taper on the Extreme Ponzi Makeover Show !!!!! Never Not Evaaaaaaaaaaaaaaaa.........

 

BLitchez!

Tue, 10/29/2013 - 12:13 | 4101654 HungryPorkChop
HungryPorkChop's picture

Tapering, yeah right?!  I'll believe it when I see it along with Unicorns, Fairies and Pixie Dust. 

Tue, 10/29/2013 - 12:17 | 4101666 Sudden Debt
Sudden Debt's picture

AND WHY SHOULD THEY?!!

THE WEALTH DIDN'T TRICKLE DOWN YET!!!

MOAR MONEY!!! MAKE IT RAIN!!! FLOOD IT ALL!!!

MAKE EVERYBODY A MILLIONAIRE!

Tue, 10/29/2013 - 12:47 | 4101803 DoChenRollingBearing
DoChenRollingBearing's picture

Well, yes!

But, can I take my place in line ahead of you?

Tue, 10/29/2013 - 11:58 | 4101588 One And Only
One And Only's picture

We need more QE to maintain the welfare mentality that has permeated through society; corporate, common, and otherwise. Forward citizens.

Tue, 10/29/2013 - 11:58 | 4101589 fooshorter
fooshorter's picture

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

Tue, 10/29/2013 - 11:59 | 4101591 kliguy38
kliguy38's picture

NOW ya tell me

Tue, 10/29/2013 - 12:00 | 4101594 Mrmojorisin515
Mrmojorisin515's picture

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 

Tue, 10/29/2013 - 12:05 | 4101616 NOTaREALmerican
NOTaREALmerican's picture

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.

Tue, 10/29/2013 - 12:11 | 4101642 john39
john39's picture

this game has been played too many times for no. 2 to be correct....

Tue, 10/29/2013 - 12:14 | 4101658 NOTaREALmerican
NOTaREALmerican's picture

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.

Tue, 10/29/2013 - 12:26 | 4101703 john39
john39's picture

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.

Tue, 10/29/2013 - 12:44 | 4101771 robertocarlos
robertocarlos's picture

Will the real G-d please stand up.

Tue, 10/29/2013 - 12:50 | 4101816 XAU XAG
XAU XAG's picture

It's call survival of the fattest!

Fattest merchant bankers.

 

Fixed it for you

 

 

Tue, 10/29/2013 - 12:19 | 4101682 Mrmojorisin515
Mrmojorisin515's picture

nah dude, its door number 3.  The banks own the central banks, which the fed is the most powerful at the moment. 

Tue, 10/29/2013 - 12:38 | 4101766 Mrmojorisin515
Mrmojorisin515's picture

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. 

Tue, 10/29/2013 - 12:49 | 4101813 yofish
yofish's picture

At least you could take the time to reformat a cut-and-paste.

Tue, 10/29/2013 - 14:55 | 4102380 StandardDeviant
StandardDeviant's picture

And to give an attribution.  Credit where it's due, else it's plagiarism.

Tue, 10/29/2013 - 15:45 | 4102570 Mrmojorisin515
Mrmojorisin515's picture

read a book

Tue, 10/29/2013 - 13:04 | 4101897 NOTaREALmerican
NOTaREALmerican's picture

Re: dominant investment bankers

Yes indeed,  I forgot about door #3.   The "dominant alpha male assholes".  

Humans:  the least stupid animal on the planet.  

Tue, 10/29/2013 - 12:00 | 4101596 StacksOnStacks
StacksOnStacks's picture

Peak peaks?

Tue, 10/29/2013 - 12:54 | 4101835 XAU XAG
XAU XAG's picture

Twin peaks!

Tue, 10/29/2013 - 12:00 | 4101599 NOTaREALmerican
NOTaREALmerican's picture

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!

Tue, 10/29/2013 - 12:03 | 4101601 OwnSilverPlayMusic
OwnSilverPlayMusic's picture

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.

Tue, 10/29/2013 - 12:01 | 4101605 Tsar Pointless
Tsar Pointless's picture

What?

Tue, 10/29/2013 - 12:02 | 4101606 Dr. Engali
Dr. Engali's picture

Yeah go ahead and taper Ben...I dare you.

Tue, 10/29/2013 - 12:02 | 4101607 Seasmoke
Seasmoke's picture

Did Kito post this thread ?

Tue, 10/29/2013 - 12:08 | 4101630 Dr. Engali
Dr. Engali's picture

Yeah he's worried about losing another sandwich.

Tue, 10/29/2013 - 12:09 | 4101637 kito
kito's picture

aheemmmm doc, we havent finalized the deal!!!

taper coming!!!!! almost there!!!!!

 

Tue, 10/29/2013 - 12:15 | 4101653 DoChenRollingBearing
DoChenRollingBearing's picture

<--- QE to 4evah, "taper, que es eso"?

<--- Crash the economy (taper), fishez!

 

Place your bets!

Tue, 10/29/2013 - 12:28 | 4101710 Grande Tetons
Grande Tetons's picture

Kito might be on the right track.  

i will play the FX market tomorrow with a long USD/short Gold in mind.  

Tue, 10/29/2013 - 12:44 | 4101773 Yen Cross
Yen Cross's picture

    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

Tue, 10/29/2013 - 12:55 | 4101844 Grande Tetons
Grande Tetons's picture

You bet.  I have been watching the same thing.   PESO, CAD, POUND....a lot of contenders for tomorrow. 

Tue, 10/29/2013 - 12:19 | 4101681 Dr. Engali
Dr. Engali's picture

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.

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