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Step Aside Carl Icahn, It's Time For Larry Fink's Dose Of Cold Water
Yesterday it was Carl Icahn explaining some uncomfortable truths to the mainstream media (who rapidly turned their cognitively dissonant backs on his status quo defying statements). Today, it is uber-bull Larry Fink's turn to unleash truth-hell...
- *FINK SAYS PENSION FUNDS TO START SELLING STOCKS TO REBALANCE
- *FINK SAYS STRUCTURAL UNEMPLOYMENT GROWING
- *FINK SAYS QE NOT HELPING WITH STRUCTURAL UNEMPLOYMENT
- *FINK SAYS CENTRAL BANKS' POWERS TO CREATE JOBS LIMITED
His remarks - coinciding with Europe's close and the end of POMO (and this EURJPY's levitation) has knocked half of this morning's gains off stocks...
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no one can stop this bull, its like a Fusion reactor, once it’s on, it can’t be stopped. Not even a dam tweet will stop this madness.
Top
And conversely...bottom:
"Gold ‘Death Cross’ Signals Slump to $1,200"
Fink Translation:
The Fed is done doing all it can to deliver S&P 1800 as promised
Wall Street Big Banks know the party is over and are covering their ass now!
Obama has lost all political power so it's everyone for themselves now
So long and thanks for all the fish!
What we have here is a Fink Stink while we're still Smellin' Yellen.
pop cares but has no outlet but Zero hedge and Drudge....maybe hedgies long media can help influence the editorials....
Fear the steer.
Nope. Light the barbeque!
I smell smoke screen again..
These institutional A- sink holes know the market is going up too fast and want to put the breaks on things going into 2014, before crazy Yellen starts pumping hard.
They know if things get stupid even stupid people will bail on thier stocks. Got to brake things and then the steady melt up as A- sink holes like Ichan, the ghost of TWA can sell..
The thought did occur to me too. Why would Fink, who just spent August rebalancing towards high MOMO names & doubling down into tech shells suddenly be actively talking down the book unless his macro models SHOWED that the market will go reflexive around 1900 SPX. ie. we have a whole year ahead of us to ratio a measly 100 pts. To put that into context, over 1500 points barely budged the GDP number, did flat for cyclical employment adds and was a disencentive for increasing growth/capital programs.
This is very bullish.
1. I'm quite certain Larry Rat Fink won't ring a bell at the top.
2. QE isn't effective to create jobs means even more QE will be attempted.
3. Also means other unconventional policy initiatives will be tried under Yellen.
Buy stocks are forever get left behind the greatest bull market in history. LOL
Its good for bitemecoin
ECB = left shoulder, Pomo = head, Fink = right shoulder. Everyone plays their part.
God help us when Fink is the voice of truth. I guess he has some muppets to destroy!
Here is reality. The S&P is up 30% ytd. Gold is down 25% plus ytd. The fed already handed in their scorecards for the year and are at the bar getting trashed. What they don't want is the S&P finishing the year up 50%. It might look a bit more inflationary than they want. They actually would probably be happy if the market just stalled out right here and sandbagged some momentum for January.
So that is why Icahn and Fink are out there. Just to keep things from getting a bit out of hand.
exactly, and the political puppets still need to hammer out a budget, and rates can't go any higher in order for that to happen.
all about managing perception/confidence, nothing more.
Bernanke needs to put on a flight suit and get a nice Mission Accomplished banner for his triumphant exit.
fonz - the half-life of the impact of these statements is about 20 minutes now. The only way to slow it down is real taper-talk and we saw how that went earlier this year. The Fed, at the end of the day, is comprised of cowardly academics.
I do not disagree with your sentiments, but I think we have crossed the rubicon. If we drift sideways for a month and the December FOMC statement is not hawkish, we might just shoot up to 50% gains for 2013 regardless.
and I died a little writing that.
LOL
I Fink therefore I am.
Did Larry get the call from Old Yellen? Letting air out through proxies perhaps. Or doing the dirty on Obama, with aspirations for Hilary's Sec. of Tres. Oh the webs we weave.
As a side bar, and no offence intended, but has anyone noticed that the three gov Janets, not the .... most attractive? Reno, Napolitano, and now Old Yellen.
I'm afraid to close my eyes now.
god i hope the pension funds do sell some here. why wait to get fucked over again?
85 billion in free money every month, all they have to do is buy the 'corrections' (you know the 1 day/month that ends red), and its endless hookers and blow.
Even now, they must be furiously buying this 'dip' as we speak. VIX to zero!
u know they won't sell because even $500B of selling would crash the market and then their "performance" would suffer.
"FINK SAYS STRUCTURAL UNEMPLOYMENT GROWING"
There is truth in that. Sunday I read an article in MSM that stated that the vast majority of economists still claim that current unemployment is purely cyclical. Cyclical?! After how many years? It is not. What is happening to the American (and world) workforce is structural.
The bastards are serious about changing our employment conditions--forever. They are not contemplating the conventional bounceback like before.
You say that now after you are rich and savers have been murdered...fuck yo
No shit sherlock. ...the fed cant do shit for 90% of the economy and 10% is just dumb fucking luck
Larry Fink.. Isnt he that Hustler magazine guy?
no, that was fred flintstones.
I think he's the 'Git er Done' stand up comedian.
I suspect Blackrock has already done all the selling for the pension fund clients or at least used them as collateral for all the calls they sold. The funds just don't know it yet.
They have more inventory to sell:
11/06'13
Invitation Homes 2013-SFR1, a rent securitization collateralized by one floating rate loan secured by 3,207 single family rental residential properties, the peak in US home prices in this “cycle” probably coincided with the initial public offering of RMAX.
In 2012, lenders sold $18.5 billion in securities backed by subprime auto loans, compared with $11.75 billion in 2011. So far this year, $5.7 billion of the securities issued
If you're not feeling sick, how 'bout this?
HR-992 exempts derivatives trading from regulation, and was passed this week by the House of Representatives with broad bipartisan support.
Source: http://www.zerohedge.com/news/2013-11-05/guest-post-congress-sells-out-wall-street-again
.GOV to make it illegal for pension funds for 401k's to sell stocks..
Problem solved.
in a debt is money system, the cost of debt must be controlled. My bet would be that all retirement funds will be mandated to hold a certain percentage of junk paper (sovereign debt) first.
.gov manage our 401k's for us - they know best
Ah good, all the nice israeli wall streeters are firing out their best tweets. Let the Twitter wars begin.
Over.
What does all this recent 'signaling' about the out of whack markets from insiders mean? Please correct me if I'm wrong, but in '08 the only signaling was from those 'crazy' fringe guys... who just happened to be right.
I can only assume it's CYA because this crash is gonna be one hell of a doozy.
As we get deeper into the rabbit hole one begins to realize that crazy = truth, and truth = crazy.
Bullshit. Unemployment to be 0% soon, incomes up, consumers have no debt and things are getting cheaper. Buy stocks.
Fink, just another POS and tribe member on Fraud street.
At this point they must face the fact that they have very limited room to maneuver now...I mean, let's say the FED announced $3 trillion QE5...so what? All the underlying crummy conditions still exist, are only getting worse, and everyone knows it.
Time Is To Go For Gold: Bitcoin Just Crashed – High above $900 and Just Low at $540
Time is to go for Gold and for the real one this time - Bitcoin "Gold 2.0" status will be killed by its parabolic rise and bust and maybe it is happening already. http://sufiy.blogspot.co.uk/2013/11/time-is-to-go-for-gold-bitcoin-just....
Fuck, I was going to buy the dip, but I had a meeting to attend and I missed it. Dammit, I guess its better not to risk it and just buy first thing every morning.
iCahn's media-looting called out. Truth is free and if you pay millions to have a right-wing organ grinder and a curious carl or andy to jump around the briars and brambles, you got played by the crank as well as listened to the circus music.
http://www.marketwatch.com/story/yellen-defends-qe3-in-letters-to-senators-2013-11-19-1391598
WASHINGTON (MarketWatch) -- A "strong majority" on the Federal Reserve's policy-setting committee believes that the central bank's unprecedented asset purchase programs have been effective, said Janet Yellen, President Barack Obama's nominee to be the first chairwoman of the central bank. In response to a written question from Sen. David Vitter, a Louisiana Republican, Yellen said the benefits of asset purchases continue to outweigh the costs. The letters were released on Tuesday. Yellen repeated the Fed's statement that asset purchases are "not on a preset course" and the decision on whether to reduce the pace of the purchases will remain contingent on the economic outlook and the Fed's assessment of the costs and benefits. In a separate letter to Sen. Elizabeth Warren, a Democrat from Massachusetts, Yellen said that Fed policy would likely remain very easy for a long time after the unemployment rate falls below the central bank's 6.5% interest rate hike threshold.
"ALL HANDS ON THE BID BUTTON"...ALGOS and FED doing EVERYTHING they can to keep the DOW(6:30 National News Soundbite) near EVEN.......
It want to roll over hard......but some "mysterious force" is bidding at the margins!!!!