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Steve Liesman: "Get Ready, Here It Comes: A December Taper"

Tyler Durden's picture





 

Yesterday, we pointed out that according to the latest Bloomberg survey of economists, roughly 70% of respondents now believe that a taper is coming in either December or January, further accentuated by the recent flipflopping of Fed "bellwether" James Bullard who after holding out for a much delayed reduction in the Fed's monthly flow, admitted that the "probability of a taper had risen ". Today, some additional thoughts on what now seems the consensus from Credit Suisse: "With the labor market looking to be on a more sustained recovery trend following a late summer set-back we think tapering is now virtually inevitable with the decision between a Dec or Jan taper a virtual toss-up that may come down to Fed perceptions of market liquidity in the latter part of December." And just to add fuel to the flame here comes CNBC's own staff "Fed expert" Steve Liesman with "get ready, here it comes: A December taper."

It increasingly appears that tapering is coming at the Fed's meeting next week.

 

While forecasting the central bank's moves has been an uncertain proposition for most of the past several months—with the conventional wisdom having it wrong in June and September—several of the Fed's own financial tests for reducing its asset purchases look to have been met as it heads into the Dec. 17 meeting. Those include confidence in the outlook, an easing of fiscal drag and uncertainty, and what the Fed sees as more appropriate interest rates.

And while the market has been beyond complacent, and is confident that "this time is different", all it will take for a "tightening of financial conditions" is for one big seller to decide the time has come to take profits, and to ruin the Fed's latest carefully laid plan to make it seem that Tapering (which the Fed will not tire of repeating is not tightening even though even the Fed has now admitted it is the Flow and not the Stock) is priced in, and make a mockery of all "consensus" forecasts yet again.

 


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Tue, 12/10/2013 - 09:45 | Link to Comment Tippoo Sultan
Tippoo Sultan's picture

Why quote any "personality" from a network which averages 78,000 viewers per day ?

Tue, 12/10/2013 - 09:47 | Link to Comment Xibalba
Xibalba's picture

on a good day*

Tue, 12/10/2013 - 09:57 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

Liesman, the Fed bootlicker

Tue, 12/10/2013 - 09:58 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

They halt gold and cart out Liesman......where's the camera?

Tue, 12/10/2013 - 10:03 | Link to Comment Occident Mortal
Occident Mortal's picture

It's all about the yield curve.

 

Nobody gives a shit about employment or jobs or any other such crap.

Tue, 12/10/2013 - 10:06 | Link to Comment Occident Mortal
Occident Mortal's picture

Oh and I should add...

 

I am still heavily short the DJI at 16020's average and long on Gold at 1220's average.

 

This is the trade that everyone has been talking about for the past 5 years, it's finally here.

Tue, 12/10/2013 - 10:11 | Link to Comment TeamDepends
TeamDepends's picture

Music and Lyrics by J. Yellen and M. Ager

So long sad times
Go long bad times
We are rid of you at last

Howdy gay times
Cloudy gray times
You are now a thing of the past

Happy days are here again
The skies above are clear again
So let's sing a song of cheer again
Happy days are here again

Lyrics by J. Yellen!!!!!!

Tue, 12/10/2013 - 10:43 | Link to Comment derek_vineyard
derek_vineyard's picture

i thought liesman said QE didn't matter to the markets.  when did he equivocate?

Tue, 12/10/2013 - 11:21 | Link to Comment CounterPartyVice
CounterPartyVice's picture

Yeah right, the same "taper" due in september. They won't taper, they will increase it because 10y rates are about to get over 3% again, ...

Tue, 12/10/2013 - 11:22 | Link to Comment CounterPartyVice
CounterPartyVice's picture

.

Tue, 12/10/2013 - 11:23 | Link to Comment Carpenter1
Carpenter1's picture

I hope the FED doesn't taper, that would be a predictable, and therefore containable collapse. I want the unpredictable, unmanaged, cataclysmic collapse.

Tue, 12/10/2013 - 11:23 | Link to Comment Carpenter1
Carpenter1's picture

At this point, even a taper would crash the entire economy.

Tue, 12/10/2013 - 10:07 | Link to Comment somecallmetimmah
somecallmetimmah's picture

"It increasingly appears that tapering is coming at the Fed's meeting next week."

Next week in 2017?  OK.

Tue, 12/10/2013 - 12:44 | Link to Comment Colonel Klink
Colonel Klink's picture

LIESman, the Fed jackboot licker.

Fixed it for you.

Tue, 12/10/2013 - 10:50 | Link to Comment ZH Snob
ZH Snob's picture

actually, a decrease in QE can happen whenever the Fed feels it's time to pull the plug.  you gotta stop thinking in sensible terms.  these guys are out to sink the ship, once and for all, end of story.

Tue, 12/10/2013 - 12:21 | Link to Comment donsluck
donsluck's picture

The "ship" is their entire power structure. The Fed is not run by teenagers with an end-of-the-world fixation. They are old experienced careful people. Deranged perhaps, but not suicidal.

Tue, 12/10/2013 - 11:23 | Link to Comment Groundhog Day
Groundhog Day's picture

GOLDMAN.....  Derived from a family which was probably in the gold business for a living

LIESMAN.... derived from a family which probably lied to people for a living

Tue, 12/10/2013 - 11:42 | Link to Comment fonestar
fonestar's picture

FONESTAR... Derived from a family that bugged people on the phone for a living

Tue, 12/10/2013 - 12:24 | Link to Comment donsluck
donsluck's picture

Donsluck, not good, not bad, just Dons'

Tue, 12/10/2013 - 09:59 | Link to Comment TeamDepends
TeamDepends's picture

Because they are freakin' hilarious, that's why.  Like the hyphenated wackjob from PMSNBC who claims that "Obamacare" is the new nigger.

Tue, 12/10/2013 - 10:06 | Link to Comment RSloane
RSloane's picture

LMAO I saw that clip this morning. That was so fucked up I kept thinking it was The Onion.

Tue, 12/10/2013 - 10:33 | Link to Comment TeamDepends
TeamDepends's picture

It has been mentioned here before, but The Onion may soon be out of business because all you have to do is turn on the MSM box...

Tue, 12/10/2013 - 10:46 | Link to Comment r101958
r101958's picture

Liesman lives up to his name. Actually, this is probably just the Fed trying to limit market froth by 'leaking' this (bogus) information/trial balloon.

Tue, 12/10/2013 - 18:10 | Link to Comment BudFox2012
BudFox2012's picture

I hope not.  While satire, the Onion actually does tell the truth filtered through humor.  The MSM never tells the truth.  Ever.

Tue, 12/10/2013 - 10:06 | Link to Comment NeedleDickTheBu...
NeedleDickTheBugFucker's picture

"Why quote any newsreader from a network which averages 78,000 viewers per day."

Fixed it for you.

Tue, 12/10/2013 - 13:22 | Link to Comment Thisson
Thisson's picture

"Why quote any newsspeak-reader from a network which averages 78,000 viewers per day."

Fixed it for you as well.

Tue, 12/10/2013 - 10:26 | Link to Comment Croesus
Croesus's picture

Taper in December or January????? 

Three words....BRING IT ON. 

I can't wait to see how the mainstream propaganda mill tries to spin the result. 

Tue, 12/10/2013 - 10:36 | Link to Comment Jumbotron
Jumbotron's picture

First of all .....suck a dick LIES-man.  Second....even if this is confirmed the market will spank Yellen so hard on the run up that Yellen will run back and mewl like a beaten kitten in the corner.

Tue, 12/10/2013 - 13:04 | Link to Comment Jumbotron
Jumbotron's picture

Even if they taper....by say 10 billion or so......don't think for one minute that the Fed hasn't some other mechanism to employ or are employing now to make up for the difference.  Look for increases in mopping up shit assets of banks and other institutions. 

The Fed's capabilities to launder money have barely been tapped.  The Ponzi must continue at all costs. 

Tue, 12/10/2013 - 11:40 | Link to Comment Odin
Odin's picture

LoL... What's the definition of insanity again? Doing the same thing over and over again and expecting different results? How about, predicting the same thing over and over again and expecting a different outcome.

Tue, 12/10/2013 - 12:26 | Link to Comment Pooper Popper
Pooper Popper's picture

Thats a Lie,,,,,,

little stevie told me it was.....sarc

Tue, 12/10/2013 - 19:23 | Link to Comment natty light
natty light's picture

Yeah the "burst rate."

Tue, 12/10/2013 - 19:45 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

The "Taper" is a lie. And its only usefulness as a lie is to trot it out time and again to instill fear when needed most. Hell of a financial system, makes you almost want to look for alternatives before it is too late. Hmm, perhaps something that doesn't take up much space, can only be 'seen' when you're looking for it, and can transport across the planet in an hour.

What could it be....

 

Tue, 12/10/2013 - 09:46 | Link to Comment Capitalist
Capitalist's picture

You can trust Liesman because he predicted the taper in September.. oh wait.

Tue, 12/10/2013 - 10:42 | Link to Comment NotApplicable
NotApplicable's picture

Feels like August all over again. If they ever taper, it will be because nobody will have yet discovered their New & Improved priming mechanism.

Tue, 12/10/2013 - 09:45 | Link to Comment falak pema
falak pema's picture

A lot of people in ZH will choke on this if it occurs! 

Tue, 12/10/2013 - 09:53 | Link to Comment Headbanger
Headbanger's picture

I just about blew hot coffee out my nose seeing that headline just now!! 

Tue, 12/10/2013 - 09:59 | Link to Comment falak pema
falak pema's picture

Consider this : Imagine a december taper; a very MInI one by Fed to test market reaction.

A move of 5 Billion less could give Yellen an indication if the WS PD's stomach for QE pumping will get butterflies and go all queasy or not. 

The situation of a Strong correction and a Gradual correction must now be on everybody's mind...like a choice between Frankenstein's ghost or Rip Van Winkle's snores.

Soft Landing...get that Hindenberg to land without going up in flames, all along the 2014 tarmac! 

Good Luck Yellen! 

Tue, 12/10/2013 - 10:05 | Link to Comment BurningFuld
BurningFuld's picture

Quick question here. Once Countries start printing money do they ever stop before their currency collapses?

Tue, 12/10/2013 - 10:25 | Link to Comment falak pema
falak pema's picture

Ask JAmie Dimon, his neck is truly on the line more so than Yellen's; if the banks cave, and WS hears the JPM walls cracking in liquidity crunch.  And on the other side ask the irate Chinese who are fed up with QE. 

Yellen has her butt in the Statist camp and her titties firmly in the oligarchy camp, who can squeeze them like they did Ben's marbles! Not easy to be Oligarchy's "bitch" and Statist witch. 

Who is the leader and who is the poodle in this crony, incestuous "codependency" ?

Tue, 12/10/2013 - 10:28 | Link to Comment runningman18
runningman18's picture

In this case, they can stop or continue, the dollar will collapse either way.  Default and devaluation, or hyperinflation and devaluation - that's the only question left to answer now.

Tue, 12/10/2013 - 12:28 | Link to Comment Pooper Popper
Pooper Popper's picture

Head,just stick to drinking it,blowing coffee through your nose can be habit forming!

Tue, 12/10/2013 - 09:57 | Link to Comment Bobbyrib
Bobbyrib's picture

A lot of people will laugh if you fall for another Fed "head fake."

Tue, 12/10/2013 - 10:04 | Link to Comment Headbanger
Headbanger's picture

No,  the Fed either does it now or they lose what little credibility they have left now.

They'll probably taper QE by $10 to $15 billion a month. 

But if they want to make the most of this opportunity, after warning everybody for months now, they should cut QE by $20 billion or more now!

Tue, 12/10/2013 - 10:17 | Link to Comment Bobbyrib
Bobbyrib's picture

The Fed has credibility?

Tue, 12/10/2013 - 10:50 | Link to Comment saveandsound
saveandsound's picture

Not really, however the Dollar ist still in use. Exciting times.

Tue, 12/10/2013 - 10:31 | Link to Comment runningman18
runningman18's picture

They will cut soon.  Count on it.  They might bring stimulus back later after everyone begs, but for now, they'll cut.

Tue, 12/10/2013 - 09:57 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Not really. If they do make a grand announcement about a 10% reduction in stimulus, I feel quite certain that the FED will do extra back door stimulus to make up for the loss. The babies on Wall Street will never let go of that tit. KEEP CALM and KEEP SUCKING

Tue, 12/10/2013 - 10:07 | Link to Comment RSloane
RSloane's picture

I don't believe that any tapering will occur during a season of buyers' madness induced by advertising which never stops. I saw a commercial last night of a little girl asking for a Ford escort while on Santa's knee. What I am saying is that the Fed will not act as the Grinch who stole Christmas. They will give the markets a few months heads up so that the addicts can brace themselves for withdrawal symptoms.

 

PS There are 21 more days left in December. The Fed better get 'cracking' and begin tapering retroactively.

Tue, 12/10/2013 - 12:14 | Link to Comment DosZap
DosZap's picture

Get ready for bank account charges(and major withdrawals by sheeple), and a drop in PM's(BTFD) time for sure.

Tue, 12/10/2013 - 14:18 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Not necessarily  - a miniscule announced taper matched with a ton of jawboning would fulfill the Fed's "promise" to taper (thus closing the "credibility gap") and I would see that coupled with covert Fed countermeasures to counteract the effects so that they could claim, see we told you it was "priced in."  But a genuine reduction in flow is not in the cards right now. 

Tue, 12/10/2013 - 09:46 | Link to Comment B2u
B2u's picture

Steve LIESman?  CNBS?  Who watches this nonsense?

Tue, 12/10/2013 - 09:54 | Link to Comment booboo
booboo's picture

I'll wait for Nostrabama to make the call, it should go something like this:
"If my poll numbers fall so will the market so start worshiping me, uh, like uh Mandela"

Tue, 12/10/2013 - 09:47 | Link to Comment kw2012
kw2012's picture

If we get a small taper, it will be the one and only taper and I certainly don't see it coming in December.

Tue, 12/10/2013 - 09:58 | Link to Comment JP McManus
JP McManus's picture

No, no, they're going to do it like the sequester.  "Well, we were going to increase it to 150 bil/month, but we're tapering that to only 120 bil."

Tue, 12/10/2013 - 09:49 | Link to Comment fonzannoon
fonzannoon's picture

It is about the flow, not the stock, up until the fed owns enough of the stock (which we are about there) at which point it is all about the stock, not the flow.

Tue, 12/10/2013 - 10:53 | Link to Comment saveandsound
saveandsound's picture

There was a ZH-post on flow vs. stock, but I didn't get it. Could you give me a hint, why flow matters now and stock matters later?

Tue, 12/10/2013 - 12:31 | Link to Comment donsluck
donsluck's picture

Because it is the act of the purchase that drives up the price of bonds. As the quantity of bonds available reduces (due to the Feds' ownership of most of them), they must either move to a different type of security or just stop buying. Either way the stock of securities they hold becomes a dead weight and they can no longer affect long term interest rates. Ironically the work around is bigger and bigger Federal deficits.

Tue, 12/10/2013 - 09:50 | Link to Comment Quinvarius
Quinvarius's picture

The Fed needs to buy local and state debt or the pension funds are going to get Detroited.  QE needs to increase.  They might not announce it.  But they must begin to buy more crap assets.

As always, the Taper crowd is completely ignorant.  Even if they actually were stupid enough to taper, they would never announce it.  You would never know it was going on. 

Tue, 12/10/2013 - 09:52 | Link to Comment kw2012
kw2012's picture

We need more Detroits. Federal bailouts of states or cities is a mistake.

 

Why would any local entity use any fiscal responsibility if they knew they would get a Federal bailout.

Tue, 12/10/2013 - 09:53 | Link to Comment Quinvarius
Quinvarius's picture

Imagine a world where trash piles up on the street corners in every large American city, and there is no power, or running water.  Imagine all city and state workers no longer showing up to work.  They are not going to allow that to happen.

Tue, 12/10/2013 - 09:56 | Link to Comment Cursive
Cursive's picture

@Quinvarius

So, ultimately, we will definitely see martial law then?

Tue, 12/10/2013 - 09:57 | Link to Comment Quinvarius
Quinvarius's picture

Just more money printing and lies is all I predict.

Tue, 12/10/2013 - 10:07 | Link to Comment Bobbyrib
Bobbyrib's picture

Until the collapse.

Tue, 12/10/2013 - 12:32 | Link to Comment donsluck
donsluck's picture

No collapse, look to China. Just a future of polluted miserable life.

Tue, 12/10/2013 - 10:30 | Link to Comment DanDaley
DanDaley's picture

Detroitus is now detritus...as so many others will be.

Tue, 12/10/2013 - 09:50 | Link to Comment highwaytoserfdom
highwaytoserfdom's picture

the name is Lies- man truth in advertising

Tue, 12/10/2013 - 09:50 | Link to Comment kw2012
kw2012's picture

How woud we know that the Fed actually did taper given that it refuses to be audited.

Tue, 12/10/2013 - 09:55 | Link to Comment Cursive
Cursive's picture

@kw2012  Nominated for comment of the year.

Tue, 12/10/2013 - 10:16 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

JWillie claims the Fed is printing $200 billion per month.........not saying I believe it because I dont know what lies to believe anymore.....

''The true volume of QE bond monetization purchases is much higher than reported.  It is way over $100 billion per month, probably closer to $200 billion per month.''

http://www.silverdoctors.com/jim-willie-forget-a-taper-fed-to-triple-qe/

Tue, 12/10/2013 - 10:05 | Link to Comment ghostzapper
ghostzapper's picture

Been saying this for a while now and I couldn't possibly agree any more with your sentiment.  $85B/month is what they are publicly telling you but who the hell knows how much it really is.

This is one of the reasons why I have hedged with Bitcoin.  I don't care how "sharp" or "in front of the curve" some of the peeps at ZH think they are because I follow what the market is telling me.  the market is telling me that Bitcoin or something very similar to it will indeed have a role now and when this whole thing eventually crumbles.  To me the "sharp" thing to do is to do what works.  

Tue, 12/10/2013 - 10:10 | Link to Comment ghostzapper
ghostzapper's picture

And one other note - how do we know how much gold any entity, country, bank has?  Do we really know how much gold is or is not out there?  How do you protect yourself from your "stacking" efforts being confiscated?  Sure, you can try to protect it with physical force but how do you cash it in when they force all purchases to be recorded and registered.

Tue, 12/10/2013 - 10:23 | Link to Comment enloe creek
enloe creek's picture

guess you don't cash it in you trade it to some one who has a good or service that you require it must become a medium of transfer at some level whether a bag of grain or some eggs or whatever I have some nice zero degree sleeping bags for barter

Tue, 12/10/2013 - 10:29 | Link to Comment ghostzapper
ghostzapper's picture

I understand that.  Cryptocurrencies (bitcoin or some other or small group of them) will eliminate the need to exchange gold/silver coins and walk around with rifles and other firearms.  who knows maybe they connect your bitcoin to your DNA sequence.  would be kinda hard to steal it then.  

Tue, 12/10/2013 - 10:44 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Attached to your DNA! Somewhere in Canada, Fonestar just pissed all over his Star Wars sheets.

Tue, 12/10/2013 - 10:50 | Link to Comment ghostzapper
ghostzapper's picture

I'm just throwing that out there.  I am not a techie in fact I hate that shit it frustrates me.  But, hey why not?  All this said, I am looking to start "stacking" a bit and I actually prefer silver to gold.  I'm waiting for the charts to tell me the right time to accumulate.  I see a further drop (which I've noted on ZH multiple times) to some long term support which is well below $18ish.  if this were to occur I will monitor how it acts building a base.  

Tue, 12/10/2013 - 11:20 | Link to Comment Fedaykinx
Fedaykinx's picture

so bitcoin is going to keep you safe now, too?

Tue, 12/10/2013 - 12:35 | Link to Comment donsluck
donsluck's picture

Being audited is never voluntary. It's up to Congress.

Tue, 12/10/2013 - 09:51 | Link to Comment 1835jackson
1835jackson's picture

If Bernanke is a legacy man (which I think he is). There will indeed be a pre Bernanke retirement party taper, a small taper but a taper nontheless. 

Tue, 12/10/2013 - 09:51 | Link to Comment pan
pan's picture

Who is Steve Liesman?

Tue, 12/10/2013 - 09:52 | Link to Comment kw2012
kw2012's picture

A giant in his own mind... and suit.

Tue, 12/10/2013 - 10:05 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Who is Steve Liesman?

 

Some guy Rick Santelli puts in his place on a daily basis.

They still pay him though......no......I don't know why.

Tue, 12/10/2013 - 10:09 | Link to Comment Bobbyrib
Bobbyrib's picture

LIESman is a pathetic supporter of government invention in the market place. He loves the Obama Administration and the Fed. He vehemently supports the Fed and Obama against free market supporters like Santelli.

Tue, 12/10/2013 - 09:50 | Link to Comment Rubbish
Rubbish's picture

Taper or not, the track up ahead has been dismantled and it's best to jump now.

 

Gold Beetchez....

Tue, 12/10/2013 - 09:51 | Link to Comment Dr. No
Dr. No's picture

Normally I would dismiss Liesman out of hand.  However, there may be pillow talk between Yellen and Liesman, giving substance to his comments.

Tue, 12/10/2013 - 09:56 | Link to Comment JP McManus
JP McManus's picture

I just threw up a little in my mouth.

Tue, 12/10/2013 - 09:57 | Link to Comment BadDog
BadDog's picture

Thanks for the visual. Now I need to bleach my brain to get rid of it.

Tue, 12/10/2013 - 10:24 | Link to Comment Dr. No
Dr. No's picture

Yellen: "Do you want moar or do you want me to taper off"

Liesman: "Do I have a choice?  I didnt use the safe word"

Tue, 12/10/2013 - 09:54 | Link to Comment Cursive
Cursive's picture

Unless...something bad were to happen like 9/11 thing or something.  Prepare for the possibility of yet another false flag operation.  If I valued my life, I'd be really cautious about shopping or walking around NYC or Boston.

Tue, 12/10/2013 - 10:00 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

What the fuck is Boston? Just because some dipshit killed 3 people with a shitty bomb, Boston is now on every terrorist must destroy list?

Tue, 12/10/2013 - 10:36 | Link to Comment Cursive
Cursive's picture

@Bangin7GramRocks

Maybe you are unaware of the history of Logan Airport?

Tue, 12/10/2013 - 10:45 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

I remember. They got on planes and left Boston.

Tue, 12/10/2013 - 09:54 | Link to Comment dcohen
dcohen's picture

Marc Faber says they will print 1 trillion a month, Steve Liesman says less than 85 billion, that's a good spread. Just goes to show you the FED has made all economists and journalists to a bunch of guessers and bullshitters.

Tue, 12/10/2013 - 09:58 | Link to Comment Dr. No
Dr. No's picture

If I was a betting man, I would say no change.  No change is in a sense, a small taper, since the market needs moar.  But the market would shat if there was an actual decrease.

No taper and no increase.

Tue, 12/10/2013 - 10:00 | Link to Comment dcohen
dcohen's picture

Seems sensible

Tue, 12/10/2013 - 10:02 | Link to Comment Mad Mohel
Mad Mohel's picture

They always have been, but as you said the spread has gotten bigger so it's more just more apparent. The likes of Krugman didn't suddenly turn into pieces of shit.

Tue, 12/10/2013 - 10:09 | Link to Comment Seer
Seer's picture

"Just goes to show you the FED has made all economists and journalists to a bunch of guessers and bullshitters."

That's the point, always has been.  The Fed has to move things around w/o telegraphing their moves.  If they'd say- "Everyone to port" everyone would scramble, likely capsizing it all.  We'll just continue to float along as they shuffle the deck chairs...

Tue, 12/10/2013 - 09:56 | Link to Comment Bobbyrib
Bobbyrib's picture

Fuck you LIESman.

Tue, 12/10/2013 - 09:54 | Link to Comment Mad Mohel
Mad Mohel's picture

That's a good one. What are they going to taper $2? Bring it, taper, I dare ya.

And for the record, Liesman is a piece of shit.

Tue, 12/10/2013 - 09:56 | Link to Comment Balvan
Balvan's picture

December what year?

Tue, 12/10/2013 - 09:58 | Link to Comment dcohen
dcohen's picture

The USD as a reserve currency needs to go, there are a bunch of truly deranged psychopaths holding the key to the printer.

Tue, 12/10/2013 - 09:58 | Link to Comment Bobbyrib
Bobbyrib's picture

Gold goes up and LIESman starts the taper talk? Coincidence?

Tue, 12/10/2013 - 10:00 | Link to Comment Shizzmoney
Shizzmoney's picture

"And here comes, (another) head fake"

They won't taper.  They *can't*, the 6 big banks cannot survive without the Fed's dirty QE fiat injections.

Tue, 12/10/2013 - 10:00 | Link to Comment Secede Or Die
Secede Or Die's picture

Here is a mathematical calculation of the result of tapering: http://youtu.be/hO_SBQY6fJg

I see that gold is still at bargain prices today.

Secede or Die.

Tue, 12/10/2013 - 10:08 | Link to Comment Skin666
Skin666's picture

A crash in the weeks before Christmas???!!!

 

It's gotta be a January taper surely?

Tue, 12/10/2013 - 10:13 | Link to Comment Seasmoke
Seasmoke's picture

the Tribe doesn't believe in Christmas. What better time to financially slay the goyim. 

Tue, 12/10/2013 - 17:36 | Link to Comment TalkToLind
TalkToLind's picture

But the tribe feeds off the goy.  If the host dies, the parasite dies.

Tue, 12/10/2013 - 10:10 | Link to Comment mynameisnobody
mynameisnobody's picture

Someone should taper Liesman's mouth shut.

Tue, 12/10/2013 - 10:57 | Link to Comment Spungo
Spungo's picture

Do you think he would keep talking if someone put a dick in his mouth?

Tue, 12/10/2013 - 10:11 | Link to Comment Seasmoke
Seasmoke's picture

I'm sure they are working on changing the definition. Of what Taper is. They will increase it to $150B yet it will be considered a Taper. This what they do. Change the definition and meanings of words. EVIL.

Tue, 12/10/2013 - 10:10 | Link to Comment youngman
youngman's picture

I bet they do a government speak of saying they are going to cut 10 billion a month...from their proposed increase of 10 billion a month..thereby the 85 billion stays the same...but the Politicians can say they cut 10 billion...sounds about right...

Tue, 12/10/2013 - 10:12 | Link to Comment whateverittakes
whateverittakes's picture

Taper and the triple top simultaneously....sweet

Tue, 12/10/2013 - 10:12 | Link to Comment lindaamick
lindaamick's picture

In order for the big players to continue extraction from society, volitility is required.

Taper Talk is the current method for ensuring volitility.

Taper can not happen.  The system REQUIRES (by definition) constant increases in debt in order to prevent implosion.

Tue, 12/10/2013 - 10:25 | Link to Comment TheFreeLance
TheFreeLance's picture

OK, let's see these experts tell us what they think interest rates do post-taper. Go on, since you know so very much and this all driven by cold, hard empirical data and is not some twisted, self-fullfilling feedback loop.

Tue, 12/10/2013 - 10:26 | Link to Comment ISEEIT
ISEEIT's picture

The odds of an increase in 'asset' purchases announced in December just shifted higher. The louder this noise becomes, the more likely that a shocking surprise awaits.

Tue, 12/10/2013 - 10:28 | Link to Comment YHC-FTSE
YHC-FTSE's picture

Fucking predictable.  Back a few months ago, after the no taper back tracking and the debt ceiling can kicking, I did say the usual suspects in the msm will start jawing about tapering in January. The noise is bound to get worse as we approach the end of the no limit debt ceiling in February.  

These bastards are so predictable, it's not even a challenge any more. Once again,  there will not be any meaningful taper because they are stuck in a self reinforced iteration of spending and debt, with opportunities for their ilk to pad their accounts playing the crooked casino with free money and insider knowledge.  Think they'll give that up? 

Tue, 12/10/2013 - 10:34 | Link to Comment d edwards
d edwards's picture

This must be the dis-information the 0bama regime wants out there, so they use one of their most reliable (and gullable) mouthpieces.

Tue, 12/10/2013 - 10:54 | Link to Comment YHC-FTSE
YHC-FTSE's picture

Yep. They need to tank the equities in order to have the excuse to keep the asset purchases running, and in order to keep it running they need to raise the debt ceiling. Red December and January on its way. Then another trip to the moon for the indexes until it breaks. Who knows how many iterations that will take?  I'm guessing 2015 but war is the unknown variable which might make this planet only habitable for cockroaches to debate the relative merits of fiat money.

Tue, 12/10/2013 - 10:36 | Link to Comment rabbitusvomitus
rabbitusvomitus's picture

"CNBC's own staff "Fed expert" Steve Liesman".......ROFLMFAO!!!!!!!

Tue, 12/10/2013 - 10:37 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

Probably some of the most important comment(s) raised following "Ghost of '29" made on ZH on what is coming our way in the next quarter with the exception of the "W" word.

Tue, 12/10/2013 - 10:50 | Link to Comment damicol
damicol's picture

Read my fucking lipe, A ponzi is a Ponzi is a PONZI.

It can only grow to survive. You cannot taper a fucking Ponzi scam.

Ask Mr Madeoff.

 

 

Tue, 12/10/2013 - 11:07 | Link to Comment devo
devo's picture

If they do taper, it will be small and only to show they can. This is a psychological game now; math defenestrated long ago.

Tue, 12/10/2013 - 11:33 | Link to Comment moneybots
moneybots's picture

"It increasingly appears that tapering is coming at the Fed's meeting next week."

 

Is this for Muppet consumtion?

 

Tue, 12/10/2013 - 11:59 | Link to Comment Dudeskis
Dudeskis's picture

Merrrry Chrissstmas you fucking muppets! Gimme that crutch Tiny Tim. Now bend over investors!

Tue, 12/10/2013 - 12:02 | Link to Comment Satan
Satan's picture

Fuck the taper. QE will officially be 100 B by Dec. 2014. Unofficially it will be a lot more with the Fed buying shares in strategically important companies ( Think Halliburton, not so much Lululemon ).

You cannot wind down a Ponzi.

Tue, 12/10/2013 - 12:50 | Link to Comment Charles Wilson
Charles Wilson's picture

The real story here is that, IN AN INFLATIONARY ENVIRONMENT, "Not Tapering" is in fact tapering.

If there is a "Real Taper" TSHTF and Right Now.

 

There is another REAL Problem, however, that is not talked about. See Shadowstats.  M1 - M2 - (SGS)M3 are all trending DOWN.  The rates of growth in the M$ are decelerating.

The ONLY question is whether the Collapse - that we've all known was coming - will occur before:

A: the Big Election in 2 years (Hillary: "Mistakes were made...What difference does it make?") and

B: the Coup that will take care of WW3.

 

Have a nice Day.

 

CW

Tue, 12/10/2013 - 13:04 | Link to Comment Yen Cross
Yen Cross's picture

     Looking at the recent collapse in the usd a taper is anything but priced in. Either way I'll likely be shorting the Fed. just like I did the last FOMC meeting. The simple fact is that multiples and macro financial reporting don't support significant further gains in equity markets without a substancial pullback...

Tue, 12/10/2013 - 13:14 | Link to Comment BudFox2012
BudFox2012's picture

I wonder if they will seasonally adjust the taper like they do with everything else...

Tue, 12/10/2013 - 13:17 | Link to Comment Quantum Nucleonics
Quantum Nucleonics's picture

Not withstanding Steve's insights (if he had any, he'd be working for a hedge fund making 10x what he does now), there will not be any taper in December for one simple reason... The Senate hasn't had the confirmation vote for Yellen yet.  They won't rock the boat.

Tue, 12/10/2013 - 15:18 | Link to Comment Poofter Priest
Poofter Priest's picture

I highly doubt tapering this time around also.

It would kill the housing market.

In turn it would kill the large investors like pension funds (of which most are wounded and bleeding).

Most sales occuring in my neck of the woods are for CASH.

And a large portion of that is from overseas.

This is unfortunate as it is supporting housing prices at a level that first time buyers are back in the area of not being able to afford to buy.

Really....housing needed to fall to 1998 prices. Around here the lowest we got was 2002 prices and now those prices are up around to the historical prices of 2004. Which, if we all pull out our notes kids, shows us that was a period when housing was already over priced.

So right now, sales are O.K. but predominantly cash transaction. Which means little money going to the banks in the form of interest profit. And....how will THIS turn out?

Tue, 12/10/2013 - 18:09 | Link to Comment MagicMoney
MagicMoney's picture

Steve Liesman was wrong before. He will be wrong again in December, and he will be wrong on January too. Why? Well it's just a guess. My guess is just as good as Liarman's guess. Ha. Maybe not, as I understand causal relationships better than this clown boy & I apparently understand the english language more.

Tue, 12/10/2013 - 19:26 | Link to Comment natty light
natty light's picture

Jim Willie

"Only the brain-dead, the system wonks, and the deeply deluded believe the QE volume will taper down. They are paid to think that way in the public forum, their minds compromised, their hearts darkened, their paychecks dependent."

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