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Yellen: "No Bubble Here"
Moments ago, Janet Yellen was asked if there is something out of place with the S&P hitting all time highs at a time when even she (not to mention numerous other Fed presidents) discuss froth in the bond markets. Her answer: no. Specifically, based on some "model" the Fed watches to get a "feeling" for valuations, she concluded the equity valuations are not out of historical norms.
In other words, "no bubble here."
And here is what JPM had to say about that.
Even assuming trailing earnings are valid, sustainable, and not goosed by the Fed itself (not to mention non-GAAP accounting gimmickry): the most recent median S&P 500 Price to Earnings ratio as of this moment is higher than 89% of all P/E prints in the history of the market. Said otherwise, equities have only been more expensive just about 10% in the history of the S&P.
Nope, no bubble here.
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Bubbles are an inescapable reality of rising dough. -Kirk
Every day at 3:30 there is a bubble
ES 1950 -- Going once, going twice, SOLD!!!
I mentioned in another thread that the Baltic Dry Index is at a one year low ($858), hinting at a slower economy worldwide.
Nothing matters except the Fed's trading desk. JPM, Russia, fucking TD Ameritrade could sell all their assets and the Fed would buy them to stop gap the stock market.
What a fucking joke, but they do have an Executive Order to follow -
Executive Order 12631--Working Group on Financial Markets:
http://www.archives.gov/federal-register/codification/executive-order/12...
Nope, no bubbles at all Janet.
And your future looks nice and rosy and not guilliotinish at all.
pods
He's being sarcastic for those of you who couldn't tell.
She's a fucking Wall Street whore.
Is thst a bubble in your pocket or are you here to fuck me?
OK, so you are pounding a street whore (not within my realm of experience) and a huge queef detonates..
I do not understand the mechanics but I don’t think it is a good thing.
Alright, I confess.
Lamp light ladies.. I have had a few.. the most ornery ones though, have a few years under them, white helmet heads and bubble butts.
A hooker by any other name…
"let them eat bubbles"
"while we drink them"
A certain gravity-fed angled cutting implement in a vertical slide with a weight attached compares with that allegory.
crap.. tough crowd tonight..
Tyler(s) can you get "queef" into the glossary?
..there are a lot of air pockets out there.
Why is everyone so uptight about this? Why doesn't everyone just realize that all government officials lie to make things seem better than they are? As soon as you do that you will be emancipated and your anger will dissipate. If you leave the control of your wealth in their hands however, don't be angry when it disappears. I was pissed off after 2008 when I lost 75% of my net worth. Now I know better and don't blame anyone and I protect the little I have left from forces beyond my control.
My house is exactly 346% higher then it was valued in 2002.
Dat's a Bubble.
.. my property tax is over 600 percent of what it was when I bought the dump.
OK.. so it is a half acre on a golf course, but that does not give the state the right to steal the little that is left after the fact that the few dollars I have in the bank are not worth renting out to the f'n bank mob.
I will be out of here within a year.. I will close all of my f'n bank accounts and will owe nobody nuttin".
I have a dream..
It has been reckless speeding only, if you have an accident.
Why do you still own it?
I'm still reeling from the 29 trillion number tossed out the other day.
All this QE crap is but a garnish if that is true.
People: We are going to regulate the banks!
Bankers: haha, too bad, so sad, we own you. We got tired of pretending we are providing a service so we had the central banks (that we own) print up some currency and we bought the world.
pods
Fractional reserve lending. You print 10 trillion and loan out 9 trillion, now you have 19 trillion.
Viola!
"Specifically, based on some "model" the Fed watches to get a "feeling" for valuations, she concluded the equity valuations are not out of historical norms."
Yea, its called the printing press, MONEY printing, and the last time they humped US.... it worked JUUUSSST FIIIINNe.
Ben Dover, Mr Ben Dover that is your name.
Fool faith and CREDIT printing.. unlike real money.
Ask Belgium about bubbles
They're ALL criminals (major or minor).
They're ALL liars.
The various 'isms' are bullshit - nothing but a cover for the crimes of parasites.
Their 'intellectuals' are hired to spread the bullshit, provide the smoke & mirrors. Most economists, govt lawyers, media people, and 'scientist' insiders are whores.
Bother with charts or analysis ?
Really ?
She's not a whore. To be a whore you would have to offer sexual favors for some sort of recomepense. No one has ever asked for a sexual favor from that she-beast
Who cares when S&P is at all time high? "They" are clearly winning and they kind of boxed market in positive uptrend with no matter what they do. I just can't figure out how people as evil as Fed members have everything going their way always? And they are never punished for mistakes they make - their mistakes actualy are presented as moves of geniuses
They own the media, they pay college prfessors their salaries and give them their tenure, they write the books, sell the books, and cook the books.
While energy remains "cheap' ($4.00 gas is just noise) they will play their game, but if erergy inches up any further they are fucked.
Posted this on the other Yellin taper article, but its just as appropriate to what you are asking.
Yep, corner the bond market with unlimited fiat printing and CB shell games to take out the bond vigilantes. A perpetual ponzi with no downside for the elites. Pump equities and high end assets, and force any residual carryover inflation to low end assets and staples (food, energy, utilities, housing, HC) to be absorbed by the masses tightening their belt. Meanwhile the elites don't even notice the rise in staple cost becaue they dine on Kobe Beef, Lobster and Caviar at the bubble trough. Siphon off some of that largesse to benefit the Govt. in 2 ways - benefits to the sheep to soften the higher Ponzi induced staple costs, plus expand the Security State to insure any "complaints" by the masses are controlled. Welcome to the New Feudal World Order.
This has all been brilliantly planned by sociopath bankers for years, really gaining traction beginning in the 70's, becoming entrenched in the 90's, and unremoveable now. A Perpetual Ponzi. The only threat is REAL shortages of staples (food, water, energy, housing) for the masses. Central planning always results in shortages because of misallocation of resources (ie Soviet Union). But we are years, maybe decades, from Mad Max or Soylent Green shortages that will be needed for the catalyst for real revolution.
Oil production has been flat of late. You get a downturn now and the lights go off. Good luck on your "decades" timing. Projections are rising, but it is flat, look....
http://www.eia.gov/forecasts/steo/report/global_oil.cfm
Me, I've learned to farm, I'm in the shape I was when I was 25, and can still drink almost anyone under the table.
Cheers!
his decades timing may be a lot closer than all the "imminent crash" timing that has been off for 5 years.
Meh. I see a whiteness of black swans approaching.
Meh blech. You said gold was about to go parabolic months ago when it was close to $1,400 and I said it was heading south from there. You yelled at me....You yelled at me.
I'd listen to SDShack...we may be here a while. I'd at least put even money odds on it.
Well I didn't yell at you. Fact is only a few years ago they almost lost control of the entire shitstorm. You wanna give them decades going forward? Great, I'll short you.
I was not talking to you. I was talking to soul glow and he knows what I am talkin abooot.
Are you certain they almost lost control of the shitstorm?
I think thats the point at which they took full control of the "shitstorm" by taking full control of the printing press. How do we know that they aren't just saying they are tapering to 35 billion a month in bond purchases, when in fact they are buying who knows how much? Do we really know what the Feds balance sheet is? We only know what they tell us it is. They could be printing a trillion a year or 10 trillion a year and we have no idea. With infinite money both printed and digital, they can goal seek absolutely any number they want in any market they want.
They gave you the ILLUSION of almost losing control in 2008. I bought it too. I have since seen the error of my ways because I now understand what type of people they are. The 2008 illusion was just a plan to establish more control. And it has worked brilliantly for them. Just like AIG was an illusion. GM was an illusion. Greece was an illusion. CDS are an illusion. 0zer0care is an illusion. DHS is an illusion. NSA is an illusion. IRS is an illusion, and on and on and on. It's been going on 6 years of nothing but more control. 6 years is on the downside of a decade. I see nothing on the short term horizon to stop them.
Why do a black swan when you are winning? If the bankers are achieving a perpetual ponzi, then they don't need a black swan. The only justification for them to launch a black swan is to take out a potential threat TO THEM. This means a black swan to expand the Security State and control the masses even more. This feeds the ponzi. Black swans are not going to save anyone. Even if a black swan gets out of their control (like Syria, Iraq, or Ukraine, or fill in the blank....), they will just double down on MORE control to compensate. Learn to think like a socipathic banker, and you will see where this is going and why. They only exist to win in their mind, and will sacrifice everything and everyone to achieve it. We have years of destruction ahead of us.
I don't think they want to hear it.
...as long as all the elites are on the same team. So Russia, China, at some level would need to be already fully coopted for your scenario to play out. I don't know if that's the situation or not.
Not.
"Irrational exuberance" writ large.
By the time the Fed's done we're gonna have to reserve The Joker as "an entire class of super villains."
LOL, decades....
Give it time.. I mightg go broke buying July and August puts, but even if I lose all my gambling money, I will witness the downfall of the FED soon..
You'd be better off just staying out or outright shorting. Buying puts is like donating money to the banks.
That is what happens when you are in a bull market run. That is what happens when you are in a large elliot wave to the upside.
EXCEPT.. in the past, it was companies and earnings can do no wrong, everything looks great, as in the 1999 tech bubble, even companies with zero earnings look like golden tickets ready to rake in the riches.
NOW.. it's the FED can do no wrong, the FED is the golden ticket, the FED has our back, the FED is riskless, the FED will never fuck up.
The problem being,.. these things always turn. Bull runs end, Elliot waves turn down. And when it does.. it's the exact opposite. In 1999 though, that was companies with no earnings are worthless, everything is risky, stocks can bankrupt you, etc...
This time.. it will be The FED can't win, Everything the FED does is wrong, The FED is sinking the market, The FED has injected the maret with massive risk, The FED has completely fucked up.
I'm not quite sure what that's going to do, but most likely the outcome will be a total loss of all credibility by the central bank itself.
And its of their own making.
But they are academics, not traders. They know not what they do.
But my broker told me, "Stock prices never drop."
..oh wait, or ... Was that was my realtor about my house?
The public faces are academics. The owners are sociopathic criminals who will change the rules they originally created whenever it suits them in order to win. If your scenario plays out, it will be intentional, and the real powers behind the FED will profit from it, even as they hang their academic spokespeople out to dry.
HARPEX though, went vertical and blew through the 2 yr average (granted way below the 5yr). Somebody moved alot of something. Perhaps its all that missing Chinese metal.
Probably Bernanke's dickcheese he left in the Eccles Board room.
I was just out driving and had CNBC radio on, post press conference and post market close.
One of the guests said:
"Look, it's what, 5 years? Six years since the smash? How can it be good that we have to sit here parsing Fed language about how much money is being created per month? How can that still be required? How can it be good that this is what we have to do now?"
A CNBC person, dunno who it was (radio) replied:
"It's good because I keep my job!"
NO LAUGHTER.
The guest said: "No, I mean in an important sense. How can this be good?"
Reply: "It's damned important I keep my job. It's ALL important that I keep my job!"
I had to be careful I didn't drive off the road. That was quite the laugh for me, but dead silence in their studio.
8th percentile....so we have some ways to go then
"YELLENNNNNNNNN!" - Kirk
didn't a certain Alan Greenspan say the same back in 2007/2008? and then kapoosh!
And Bernanke said it in October 2005.
"Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve."
"U.S. house prices have risen by nearly 25 percent over the past two years, noted Bernanke... But these increases, he said, "largely reflect strong economic fundamentals," such as strong growth in jobs, incomes and the number of new households."
http://www.washingtonpost.com/wp-dyn/content/article/2005/10/26/AR200510...
no bubble here - approaching 400 days since we last touched the 200 moving average.
Would be nice to see a chart showing the number of days the S&P over its 200 dma vs time if you got it..
TIA
happened twice since 1930, no bubble here.
one time was in the fifties, GDP growth in that decade was 6%. even so, the market went nowhere in the next 2 1/2 years.
other time was in 1937, stock market lost 33% within the year, never to recover that level for many, many years.
nope, no bubble, evil woman.
now, evil woman, go back to the retard building where you came from and dont come out for another month to spare us the horror of having to see you live and the mockery that occur in your "market" every time you speak.
Someone should have asked if the model is similar to what Bernanke used when he said there was no RE bubble.
In the 1930's they couldn't create unlimited digital dollars in a matter of seconds. Today, they can make the S&P do whatever they want. They DOW isn't a measure of the health of the economy anymore. It can continue to meltup, even though the standard of living for most people goes ever lower. You don't use a thermometer to measure windspeed. They have convinced us that a big number on the thermometer is good, even though its meaningless in terms of windspeed.
All those meetings, hearings, grillings or whatever it is is just an infertile blabber proving total impotence of the press, congress and other puppets. The puppets pretend to be asking, interrogating, investigating the entities sitting on the opposite chair who answer what they want or don't want to while lying under oath on occasion knowing that nothing will ever happen and silently laughing at toothless and grotesque efforts of the dumbasses sitting in the committees or in the audience falsely hoping they can find out something relevant or change something just by asking "the right" questions.
It's still the same over and over again. Disgusting farce.
A-ok http://hedge.ly/1xKnFp9
Yeah, but since 1998 that's looking pretty middle-of-the-road. Just start the comparison there, problem goes away.
ya butt
The fed has ways of keeping prices rising without blowing bubbles. derviatives er sumpin....dunno but I'd bet the S&P will be higher next month than this.
Welcome to the Zimbabwe States of Merkia.
Oy vey such a problem
keep hearing echos : The subprime crisis is contained.
http://0.tqn.com/d/bonds/1/0/K/-/-/-/10-Year.jpg
That's 50 years of the 10 year.
Calling for higher rates makes sense, how?
Hell, it was below 2% before QE3 was even fired.
no bubble, bill dudley told me so. he heard it from dimon, who heard it from geithner, who heard it from summers, who heard it from rubin, who communicated his decision to his friend, obama.
Gold is not at an all time high. Oil is not at all time high. official inflation is 2%. REDSKINS lost their trademark status.
All is normal in the NEW NORMAL. Bullish, 11% to go or 2150 on the S&P, throw in the towel and chase the last 11%!!!
You would think with everything hitting all time highs that PMs would be a part of that too....for some reason its not part of the game....yet...it will be the last player let on the feld I think...and it will play....it will set records as to how fast it goes up in value..
Toil and Trouble. Toil and Trouble.
"Tiny bubbles, in the wine, make me happy, make me feel fine" - Don Ho (and banksters too)
"Biggy bubbles, in the slime, make me dirty, make me feel fine" - Yellen
Yellen was humming:
Summer Breeze, makes me feel fine blowin up the jasmin in my mind...
"See the paper layin' on the sidewalk
a little music from the house next door..."
i fucking hate this bitch, i want to fucking punch her in the face and beat her.
what a stupid fucking cunt.
ya, no bubbles, job market improving broadly, what fucking planet is she living on?
this is her world, were just a squirrel trying to get a nut
Guess we have to wait for a P/E of 22-23 or ES 2400-2500 for a correction. By then, VIX should be 4 or 5.
One VIX, one Fed chair, one nation ...
yes I'm going all in at 22x trailing SPX EPS, has always worked out well
The error you make is thinking we are in historical times.
Not so. We became firmly entrenched in the post-historical world when clinton got off, so to speak, of being kicked on ass out of office, during the reign when we got two fer the price of one, which one attempted a takeover of the entire health concerns of 320,000,000 people and 40,000,000 illegals. Which same person is going to run for POTUS against a totally clueless republican party.
Thru the looking glass we went, and now?
Toss away the stuff of the past, for----- contrary to FAulkner----the past is dead ('cept for the profitable industries of the holocaust, the crusades, the inquisition, slavery, and the hatfields and mccoys).
We have a new pair o dime and it's just getting started.
(as a sidenote, Denise Richards' boob job was not all that suckcessful.
YellenTurtle likes to pop her head out every once in a while to nibble on some lettuce.
Yellen = TWIT/TWAT
A lot of bullshit spun into positive spewing from Yellen today.
Euphoria at tops.
I think she said uncertainty a few times, but that doesn't count.
so stocks are up after announcing 20% reduction in fed spport?
This cunts meant to be woman right? Right? Erm, right?
Now why in fucks name of Dog would you take the word a 'Thing', that could be a man, that should be a woman, whos giving you valuable information on market volumes and such like, when 'It' cannot, and I mean CANNOT convince you its a man, I mean a woman?
There is ugly my friends, and there is market manipulation, but how the fuck do you make folk believe that ugly bastard is a woman?
Its a ruse, must be. There is no way on this Dogs given earth that fucker is a man, sorry, a woman. Dont listen to 'Its' lies, you may be being decieved.
Bitchez
;-)
i believe s/he is a morlock
A New Zealand rugby team named All Blacks.
Rayciss or just extreme affirmative action?
seems the "savages"/aborigines don't mind, they have been accepted by the All Blacks as players for several decades even though cannibalism is fairly recent memory for them...
bah...buy 'em!
Code phase for banks and insurance companies to keep buying stocks.
Just like subprime wasn't a problem until it was in 2007.
market going fucking parabolic. WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!
VIX will soon plunge into negative territory then stawks can really begin busting a move!
Eddie Murphy taught us everything we needed to know about bubbles, and G.I. Joe.
i feel like puking.
Yellen-the-White takes time from playing Sim-economy, rides down from the ivory tower, to ward off 'The Unhinging'. Again expecting the slow-growth economy and melt-up markets to magically BE SEEN as benefitting Main Street and spur another age of consumerism which is expected to BE SEEN as benefitting middle-class job opportunities.. or something like that. We are sooo fucked as these people do ____x___ to buy more time. Some probably think things will work out, but I wonder what preps look like for the .01% (they may not be able to count on the Navy Seals).
Go down to any bar in any state and tell people the U.S. economy's GDP will usually range between slightly negative (when things are bad) on up to a pretty healthy 4-6%. If people were asked to guess what H2 holds, guaranteed people on the street would be closer than these #$%^& clowns.. even after the bullshit numbers.
Yellen is a fucking whore.
as opposed to another banker? come on man. they're all fucking whores.
LET IT BE KNOWN JANET YELLEN IS A FUCKING WHORE!
a cantankerous lampray eel whore with no class.
May I add, most likely a broke whore. Because outside of a sexual masochist, who would pay to hit that?
Glad that I stopped shorting this market a long time ago. Interesting that gold is holding it together and even going up....inflation?
It seems pretty simple, really. The fed must continue to claim everything is a-ok, so they can justify holding interest rates at near zero. Clearly, this is due to the fact that raising rates is tantamount to suicide. That is the only relevant fact. Everything else is a distraction.
Her special "feeling" is the same one experienced by someone waking up from a 6 year drunk realizing they have shit the bed.
Let all who claim to have no knowledge of said "feeling" click on the red arrow.
How about a market cap-to-GDP ratio of ~1.21 (as of when this was recently calculated):
http://www.gurufocus.com/stock-market-valuations.php
FedFUBAR.
SPAIN 0 - CHILE 2 ( halftime)...
SP 1958.......
VIX .....0%......
well.....thanks for taking part in the show...
Power is always dangerous. Power attracts the worst and corrupts the best.
Edward Abbey
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
Thomas Jefferson
All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not truth.
Friedrich Nietzsche
The FED in total denial of its Minsky Moment of own fabrication.
The FED pretends it isn't there to clean up after financial crises but to lean against excesses as they develop...
So... Alan Greenspan and Ben Bernanke, in view of that statement, have been leaning against excesses as they develop with ZIRP and QE.... and protecting the TBTF subsequently to curb those very excesses from going systemic...
Now that is the financial world standing on its head right there.
Did Chairlady Yellen show real history? Ho No!
http://www.showrealhist.com/
The bubble is contained...
What an ivory towered buffoon.
Hey...all you whiners! Stop dissin Yellin. I just sold 480 shares for a rather tidy profit today. Thanks Janet, couldn't have done it without your exercise in full retard mode.
Even assuming trailing earnings are valid, sustainable...
This is the key as JPM well knows. They aren't valid because recent bank earnings are inorganic horse manure. They aren't sustainable because levered buybacks are finite, unlike the fed, which espouses infinity as being no barrier.
C'mon...everyone knows...this time is different.
Wow.
To taper or not to taper what to tell the public? QE is more or less a PR statement, FRB was buying 3b in MBS and 10b Agencies a day in '06 before QE was around. What the FRB really trades is something different. Investment bankers all know this. Kinda like Disneyland all fun and games on the surface and slew of tunnels and security guys below or behind the scenes. That is why you cannot match market results to the 'public statements' of QE or taper, that is just PR or marketing vapor. Heh, lets taper and GSPC climbs....right.
These very instructive price histories are kept out of sight:
http://www.showrealhist.com/RHandRD.html
Does anyone really reckon that trustworthy persons are in control?
Hitler originated the term The Big Lie in his 1925 Mein Kampf. The Fed was founded in 1913.
The fiat game ends when less entities accept USD for assets, products and services than entities accept USD for them. And that is just starting in Eurasia.
The Fed loses all control once the US dollar crashes.
On the one hand, the Fed chairs have always said they can't see and won't know a bubble until AFTER it implodes.
On the other, they tell us there is no bubble.
Go figure.
no bubble here -buy S end P more
Until things are not as they are; they will be different. When they are different they will not be the same. Dissimilar things vary and variances can cause change. Change is different than, not the same, and not the same is the same as different; but with a difference.
Until things are different; we will be monitoring changes in the data, reacting to variances from different sources.
We remain on course as the differences in the changes are not variances large enough for us to vary our approach.
If you take out the spikes and depressions, the changes we have made to date are working.
^^^
haha - I see somebody spent their tuition money wisely on "Fed Speak 101"
Bubbles? We ain't got no bubbles! We don't want no stinking bubbles!!
Space X better start moving up their timetables.
We're gonna need a regular supply of meteor minerals a lot sooner than expected.
She is either a liar or she is completely incompetent.
Not both? I'm not so sure.
She's an incompetent liar....reading off of cards and dementia-addled memories....I wouldn't be surprised if the little Yoda was rigged up to a Squid/JPM robot....
Yellen's little secret.
http://3.bp.blogspot.com/-Wzt-LQgRAqI/T9H7pmm9ryI/AAAAAAAALoo/ebFm_a8vfm...
It pays to be one of the tribe.
Once the US dollar crashes the Federal Reserve's backup is yet another fiat, SDRs.
I once knew a girl named "Bubbles". She was a stripper and she had more common sense in her left little finger than Janet Yellen has in her big fat ugly head.
That fucking bollox also took the DAX back over 10000 , funny that
This is the problem with reading chicken gizzards, every sorcerer has a different finding.
Gold moving up USJPY moving down, interesting
Call me when that median P/E prints over 30x, till such a time the market is dramatically undervalued when adjusted for central bank policy.
This is getting old too and it too sucks. Listen, Zirp can't end or the USA goes POOF! The market can't crash or the USA goes POOF! That's it, so move along now, no need to hash it all out over and over and over ................
TILL IT HAPPENS!
Bullish! Wall of worry!
If you deflate the GSPC and DJI for some real inflation (i.e., shadowstats) numbers my guess is markets were a tiny bit higher in '00 dollars around Mar.'00. It's about buying power, ends when no one wants $$ for real assets or services.
The question should be phrased to her, "At what level is the S&P in a bubble." Less easy to dodge that one.
Excellent idea
The FED will not admit to a bubble until after it has burst.
They don't want the bag holders to sell in front of the insiders.
"The sub-prime market is contained."
Just when i was starting to think that the equity market was starting to get the joke these muppets at the fed go and pour more fuel on the fire.....
imbeciles
The P/E ratio based on Shiller's CAPE (ten-year average earnings) is well into the top decile.
Unfortunately, extreme valuation on its own is not a sufficient condition to pop a bubble. It takes a pin.
The good Dr. Hussman is, as we speak, tearing his hair out as the universe attempts to impart this lesson for the third time (he STILL don't get it).
Two massive things supporting bubbles...
1. ECB <--> FED tautology.
2. Bank excess fiat funds.
They both support expanding markets...just like Zimbabwe.
The trick will be to predict the Klingon 'glorious' end...
The FED has "taut" me to go all in long, beginning 2009. My short foray into all in short, was a disaster. That was 5 yrs ago. Undoubtedly a regression to the mean will occur SOME DAY.
But too many are betting on a regression soon and that's just not going to happen. Even if there is little retail trading, the volume low, the stability has been remarkable, but oh so predictable.
Too many retirees out there at the rate of 10,000 a month and accelerating for the next ten years. They simply cannot allow a falling market.
J T B F D
Demand for phys has to be extremely high now. The smartest guys must realize that this orgy of money is going to end in a full fledged monetary reform with defaults, haircuts, massive inflation and so on. If I had a billion invested in what they call a "diversified" portfolio, I'd be very cautious not to keep too much in money market funds or stocks now. How much bullion can a billionaire buy these days? Gold is cheap, silver even cheaper. Even when they suppress the paper price machinations, they cannot suppress demand for phys which should skyrocket given the ECB and FED policies.
I know that some here don't like gold anymore or consider it a barbaric relic, but you gotta feel when there's a bottom forming. I think there's a bottom in gold prices here. Increasing demand, increasing costs and the paper price hovering under $1300 for many months now.
TPTB can try and suppress prices even further but how much lower can it go before the run is on and the system snaps? Smart money is not going to wait for that day is my best guess.
The Fed's William Dudley and Charles Evans will continue to prop up and push the market higher.
In the meantime retail prices keep increasing.
nothing to see here - the recovery is coming along as the US economy continues to show positive signs. the fed will keep tapering until QE is completely wound down and interest rates are set to rise soon. right? :))
I have been in business for myself for more than a decade. I have never seen the economy so slow from my perspective. I know folks who cannot even find gas money to get to work if they want to also eat!
Ms. Yellen: FUCK you.
http://original.antiwar.com/smith-grant/2013/12/27/aipacs-fed-candidate-stanley-fischer-on-a-warpath-against-iran/
http://original.antiwar.com/justin/2014/06/17/iraq-will-the-neocons-get-away-with-it-again/
http://www.theguardian.com/world/2013/sep/11/nsa-americans-personal-data-israel-documents
Netanyahu implicated in nuclear smuggling from U.S.
And IRan....