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IMF's Christine Lagarde Joins The Chorus, Warns Market Is "Too Upbeat"

Tyler Durden's picture




 

First, three weeks ago, it was the BIS.

Then, last week, it was Janet Yellen, Series 7, 63 certified, who during last week's Humphrey Hawkins testimony, did what no Fed Chairman had done before: commented on stock prices, and what's worse (if only for the momo, liquidity addicts so used to be being bailed out by the Fed always and forever) she had her "irrational exuberance" moment when the Chairmanwoman of the Fed explicitly stated that biotech and social-network stocks are in a bubble.

Scotiabank's Guy Haselmann summarized it best:

The most shocking moment came shortly thereafter, when Oscar-winner Yellen screamed to Hensarling after a question, “Because you can’t handle the truth!” She then launched into an explanation about how the plan all along has been to intentionally create asset inflation (as opposed to asset bubbles). Such a proclamation means that Yellen must be an expert on market valuation metrics and can responsibly recognize the difference between asset inflation and asset bubbles. To be fair however, she admits that should (another) boom /bust mistake be made, she has great confidence (this time) that the FOMC has the ability to clean up the fallout through macro-prudential and regulatory tools. Regrettably, not making the transcript was her barely audible whisper of “pump and regulate, baby”.

That she finally admitted that the market is approaching its upper limit should have been enough to launch a major market correction. Instead the market barely budged and subsequently recovered virtually all its losses, even as the war in Ukraine and Gaza reached new highs, in the process confirming that other recurring Fed concern: that the market has hit record complacency (to be sure, the Fed had zero commentary that it is the Fed's fault the market no longer responds to any newsflow, fundamentals or stimuli).

It appears that the Fed has created a terrifying "central-planning" Frankenstein monster with its monetary policy, one which will keep going higher and higher until it crashes so epically, it will complete the finacial system wipe out that was started with the collapse of Lehman and merely delayed with the $4 trillion Fed balance sheet expansion. And the Fed is finally realizing just this, with a 5+ year delay: after all we cautioned just this would happen in March of 2009.

Then, yesterday, it was none other that the IMF's Christine Lagarde, who joined the chorus of warnings that the market is overvalued and due for a correction. From Reuters and BBC:

"The head of the International Monetary Fund warned on Friday that financial markets were "perhaps too upbeat" because high unemployment and high debt in Europe could drag down investment and hurt future growth prospects... She also warned that continuing low inflation could undermine growth prospects in the region.

 

"There is the danger of a vicious cycle: persistently high unemployment and high debt-to-GDP ratios jeopardize investment and lower future growth," Lagarde said on Friday, according to the prepared text of her speech

So to summarize: first the BIS, then the Fed and now the IMF are not only warning there is either a broad market bubble or a localized one, impacting primarily the momentum stocks (which is ironic in a new normal in which momentum ignition has replaced fundamentals as the main price discovery mechanism), they are doing so ever more frequently.

And how do the same momentum algos react? They promptly ramp the S&P 500 to essentially its all time high. Why? Because at this point it is far too late for even the Fed to pretend it has any control over the "centrally-planned" market. Or rather, centrally-unplanned. And because it is now also too late for the Fed to even conduct a controlled crash.

 

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Sat, 07/19/2014 - 17:46 | 4978005 Bollixed
Bollixed's picture

That lead-in image of CL looks like a Salvador Dali rendition of the Portrait of Dorian Gray.

She's never looked better...

Sat, 07/19/2014 - 17:52 | 4978009 Pinto Currency
Pinto Currency's picture

 

 

The central banks buy $29 trillion of equities and financial assets and then the BIS, the IMF, and the central banks tell us the markets are "too upbeat".  Thanks.

Sat, 07/19/2014 - 17:53 | 4978028 DoChenRollingBearing
DoChenRollingBearing's picture

The central banksters and the numerologists agree: stocks are too high, look out below.

Despite that odd couple, there may be truth there.  It is important to see what Lagarde, Yellen & Co. are saying, that the building (stocks) rests on shaky foundations...

Sat, 07/19/2014 - 17:58 | 4978037 Pinto Currency
Pinto Currency's picture

 

 

The cb's have propped the market up on a shakey foundation and now that all the retail investors are in, they give some warnings.

Sat, 07/19/2014 - 18:18 | 4978096 CognacAndMencken
CognacAndMencken's picture

 

 

All this bull-market skepticism from Wall Street banks to Yellen to IMF/BIS officials to internet blogs means only one thing:  the market is going higher.  Skepticism is the single healthiest ingredient to a bull market; temporary pullbacks here and there are great, too.    

Sat, 07/19/2014 - 18:27 | 4978136 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

Fake tan bitch!!!  Why do the wrong people get melanoma's

Sat, 07/19/2014 - 19:13 | 4978278 Keyser
Keyser's picture

"Only two things are infinite, the universe and human stupidity, and I'm not sure about the former." - Albert Einstein

Sat, 07/19/2014 - 19:58 | 4978409 max2205
max2205's picture

She'd look better with a gallon of cum all over her face....on second thought...

Sat, 07/19/2014 - 20:02 | 4978426 gh0atrider
gh0atrider's picture

gh0atrider knew Christine Lagarde was a shape-shifting reptilian.

Too much moonshine one night and he went there.

Sat, 07/19/2014 - 20:13 | 4978445 Thought Processor
Thought Processor's picture

 

 

Anyone else find it just slightly odd that this comes out of her mouth after giving that lesson on numerology?  Not to mention Dick Cheney coming out of his closet recently to bless us with his dire predictions.

 

This crowd has a history of giving prognostications of future events that they help create.  

 

 

They are digging their own graves.

 

 

 

Sat, 07/19/2014 - 18:52 | 4978181 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

" I can calculate the movements of the stars, but not the madness of men. " -- Isaac Newton on the South Sea Bubble

Sat, 07/19/2014 - 21:25 | 4978643 HardAssets
HardAssets's picture

I guess it helps, a tiny bit, to be reminded that Newton lost his ass in the South Sea Bubble. If he couldn't predict the moves of a scam 'market' very easily, who of us here can do so today.

Sat, 07/19/2014 - 18:04 | 4978062 ms8172
ms8172's picture

If the central banks buy stocks... do they have the ability to short them?  Anyone know?  I would say yes... they might be warning what is coming.

Sat, 07/19/2014 - 18:24 | 4978124 john39
john39's picture

They bought the entire planet with monopoly money.  Now time to stomp humanity's guts out. Or so they think.

Sat, 07/19/2014 - 18:44 | 4978190 Offthebeach
Offthebeach's picture

What are you implying? That markets are rigged?
/S

Sat, 07/19/2014 - 18:53 | 4978217 Redneck Hippy
Redneck Hippy's picture

Like the Fed and the IMF have been such great forecasters...d

Sat, 07/19/2014 - 18:53 | 4978218 Redneck Hippy
Redneck Hippy's picture

Like the Fed and the IMF have been such great forecasters...d

Sat, 07/19/2014 - 18:09 | 4978070 toxic8
toxic8's picture

scary stuff, that thumbnail image!

Sat, 07/19/2014 - 20:03 | 4978431 Implied Violins
Implied Violins's picture

My balls could only enhance two of those chins, max.

Sat, 07/19/2014 - 18:39 | 4978175 yogibear
yogibear's picture

She might look good at night with extermely dark sunglasses.

Sat, 07/19/2014 - 19:02 | 4978235 cowdiddly
cowdiddly's picture

Well, her and Angelo Mozillo do make such a lovely couple. Pass the TANG tm

Sat, 07/19/2014 - 18:45 | 4978193 Tarshatha
Tarshatha's picture

"That lead-in image of CL looks like a Salvador Dali rendition of the Portrait of Dorian Gray.

She's never looked better..."

 

Reptilian shape shifting glitch. 

Sat, 07/19/2014 - 20:07 | 4978433 TeamDepends
TeamDepends's picture

Yep, bravo Tyler for putting it right there in your face. Won't be much longer boys, before we go toe to claw with these things.

Sat, 07/19/2014 - 22:17 | 4978801 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Reptilian shape shifting glitch.

Also known as molting.

Sat, 07/19/2014 - 17:47 | 4978008 Pinto Currency
Pinto Currency's picture

-

Sat, 07/19/2014 - 18:21 | 4978111 Jumbotron
Jumbotron's picture

First "Yellen like a Felon"....now Lagarde.  This is code for the Elites and the Smart Money to start getting out before the Panic.  Controlled collapse is coming.  We'll see how controlled it is.

Sat, 07/19/2014 - 17:36 | 4977986 nidaar
nidaar's picture

"When the seven years of plenty came to an end, and the seven years of famine began to come"

From 2007 to 2014...

Sat, 07/19/2014 - 17:52 | 4978026 Chief Wonder Bread
Chief Wonder Bread's picture

Seven

Sat, 07/19/2014 - 18:00 | 4978047 knukles
knukles's picture

2+7+2+14=25
2+5=7

 

Still won't bring Mary Jo back from her swim.
Talking about swims, know what kinda wood don't float?
Natalie

Sat, 07/19/2014 - 18:49 | 4978206 Chief Wonder Bread
Chief Wonder Bread's picture

Does anyone know anymore who Mary Jo was, knuks? Few I suspect.

Know what kind of moon don't rise?

Keith

Sat, 07/19/2014 - 17:40 | 4977989 Cognitive Dissonance
Cognitive Dissonance's picture

I think this is as close to "SELL" you'll ever hear from the central banks and other financial omnipotents..

Sat, 07/19/2014 - 18:29 | 4978146 NoDebt
NoDebt's picture

This could be the creepiest article I've ever read on ZH.  I'm buying more Facebook on Monday morning.

Sat, 07/19/2014 - 19:02 | 4978248 disabledvet
disabledvet's picture

Actually "inverting the yield curve and being speechless for over 18 months" was a far better cue.

This is all about noise and the market knows it..."start talking over valuation and then print anyways" (reverse repos.)

So "just in case" the market corrects anyways...say "just invade" ...I mean... "say just in case."

The fact is the only thing better for Central Banks than debauching and devaluing is creating a MASSIVE "bubble in everything." Takes the "monkey off the back" so to speak and allows "the other bubble blowers" (rhetoricians) to explain while in fact your life is a living hell...in fact you've never had it better! (Now here's your sweaty wad of Benjamin's.)

I think we have achieved Peak Pete Puma here. "How many lumps? A WHOLE LOTTA LUMPS!" And instead of trying something new (like anything other than fiat/central planning) "we'll try coffee instead of tea!"

Sat, 07/19/2014 - 17:42 | 4977993 Chupacabra-322
Chupacabra-322's picture

This Major League Pure Evil CUNT is just blowing smoke up people's asses. Die Bitch, just fucking die already.

Sat, 07/19/2014 - 18:25 | 4978130 john39
john39's picture

The undead must be burned.

Sat, 07/19/2014 - 18:48 | 4978200 Seahorse
Seahorse's picture

kill it with fire

Sat, 07/19/2014 - 17:42 | 4977994 xamax
xamax's picture

Absolutely RIDICULOUS
Each time the fucking idiots of FMI or FED warn about topic markets, its only to accelerate the upward move, will not be different this time.
THE SKY IS THE LIMIT, WHATEVER IT TAKES!

Sat, 07/19/2014 - 17:46 | 4978002 medium giraffe
medium giraffe's picture

This is gonna hurt price/equity ratios.

Sat, 07/19/2014 - 17:46 | 4978003 debtor of last ...
debtor of last resort's picture

Yeah, sunburn causes cancer, bitch.

Sat, 07/19/2014 - 18:27 | 4978134 Jumbotron
Jumbotron's picture

We can only hope.

Sat, 07/19/2014 - 17:45 | 4978004 IridiumRebel
IridiumRebel's picture

please take that pic down from the front page of Satan LaGarde.

Sat, 07/19/2014 - 17:59 | 4978030 knukles
knukles's picture

Dude!  She's Shape Shifting!
Fucking Reptilians; they're everywhere.  I've warned you..... but you'll see them soon enough...

"We were somewhere around Barstow on the edge of the desert when the drugs began to take hold. I remember saying something like "I feel a bit lightheaded; maybe you should drive...." And suddenly there was a terrible roar all around us and the sky was full of what looked like huge bats, all swooping and screeching and diving around the car, which was going about a hundred miles an hour with the top down to Las Vegas. And a voice was screaming: "Holy Jesus! What are these goddamn animals?" Then it was quiet again. My attorney had taken his shirt off and was pouring beer on his chest, to facilitate the tanning process. "What the hell are you yelling about?" he muttered, staring up at the sun with his eyes closed and covered with wraparound Spanish sunglasses. "Never mind," I said. "It's your turn to drive." I hit the brakes and aimed the Great Red Shark toward the shoulder of the highway. No point mentioning those bats, I thought. The poor bastard will see them soon enough."
Hunter S Thompson

Amongst other oddities, on this day in history in 1969, Ted Kennedy drove a car off a bridge in Chappaquiddick MA drowning his secretary.  After a night of supposedly sane and sober behavior.

Sat, 07/19/2014 - 18:01 | 4978048 medium giraffe
medium giraffe's picture

...once you get locked into a serious drug collection, the tendency is to push it as far as you can.

Sat, 07/19/2014 - 18:11 | 4978078 knukles
knukles's picture

"We had two bags of grass, seventy-five pellets of mescaline, five sheets of high powered blotter acid, a salt shaker half full of cocaine, and a whole galaxy of multi-colored uppers, downers, screamers, laughers... and also a quart of tequila, a quart of rum, a case of Budweiser, a pint of raw ether and two dozen amyls.  Not that we needed all for that trip...."

           -The Good Doctor
Sat, 07/19/2014 - 19:23 | 4978307 Boozer
Boozer's picture

Knuk, my internet went down yesterday and I pick up my original copy of that classic

to reread for the umpteenth  time!  It's yellowed but still in decent shape...also has

phone number of favorite college concubine on inside cover.  Now where did those

35 years go?  Seem to suddenly have a craving to chew up some blotter...

Sat, 07/19/2014 - 18:12 | 4978079 nmewn
nmewn's picture

The few, the proud, the Heads ;-)

Sat, 07/19/2014 - 18:16 | 4978101 IridiumRebel
IridiumRebel's picture

When killing time on youtube I'll eventually màke it to the Reptilian vids...

Sat, 07/19/2014 - 18:28 | 4978140 john39
john39's picture

Imho, it is best interpreted as a metaphor.  Although I don't rule out that some carry demon in their dna.

Sat, 07/19/2014 - 19:41 | 4978372 Rusty Shorts
Rusty Shorts's picture

"Ruled by Aliens" - interesting indeed.

https://www.youtube.com/watch?v=Jwceq1HzjxU

Sat, 07/19/2014 - 19:30 | 4978334 joego1
joego1's picture

The good old days when I could care fucking less about retirement.

Sat, 07/19/2014 - 17:47 | 4978010 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

PSYCHOCHICKEN Kiss-ka-say fuck fuck fuck fuck fuck fuck fuck fuck fuck

psychoKILLER......Talking Heads

Sat, 07/19/2014 - 18:11 | 4978084 Elvis the Pelvis
Elvis the Pelvis's picture

Christine is one hot French mama.  Grrrrrrrr.  Bitchez.

Sat, 07/19/2014 - 18:25 | 4978122 Jumbotron
Jumbotron's picture

Scuze me....while I kiss this guy.   

<baa da da...da DA DAH....da DA DAH>   PurPle hAzE........

Sat, 07/19/2014 - 17:48 | 4978014 Peter Pan
Peter Pan's picture

Someone should tan her hide the traditional way.

Sat, 07/19/2014 - 17:53 | 4978027 Peter Pan
Peter Pan's picture

Or as a neighbour of mine would say," she looks like a lizard that has stayed in the sun for too long."

Sat, 07/19/2014 - 17:53 | 4978029 dirtyfiles
dirtyfiles's picture

what did he say?

Sat, 07/19/2014 - 18:09 | 4978073 nmewn
nmewn's picture

Denizens of Davos, begin selling but do it very slowly lest you scare the bagholders.

Sat, 07/19/2014 - 19:13 | 4978142 Jumbotron
Jumbotron's picture

Slither.....slither away at night....and be very, very quiet. 

I hear there is plenty of real estate cheap in America to park some of your money.

Sat, 07/19/2014 - 18:02 | 4978049 kowalli
kowalli's picture

Seems fed and IMF not controlling market and can't do anything about it,so i can guess it's military or drug corporations with CIA doing...

Sat, 07/19/2014 - 18:06 | 4978065 Atomizer
Atomizer's picture

That two bit whore is scared shitless. Lagarde, we warned you jackasses not to let this spin out of control. You fucked up the house of cards. 

Sat, 07/19/2014 - 18:08 | 4978067 oudinot
oudinot's picture

There used to something  called  'creative destruction' such that, in an economic downturn, the companies that were naked before the tide came in, died.  The companies that were prudent, smaller, more adaptable, different business model survived, had liquidity swimsuits survived  and thrived.  In the meantime 2-5 years, there was econmic agony but the system or rather its fundamental foundation was strengthened so that  within a half a genearation there was more prosperity than before; for everyone.

 

Unfortunately, in the 2008 crisis the oligarchs were strong enough to not only delay but not even allow 'creative destruction' in the economy.  Hence we have this Potemkin economy (stock prices look great, but don't check the store closings on Main Street)that will wither from this fascism that will, undoubtedly, lead to revolution sometime in then next 1-20 years.

Sat, 07/19/2014 - 20:25 | 4978486 Thought Processor
Thought Processor's picture

 

 

Creative destruction is probably the most essential part of a real capitalist system.  The fact that we do not have real creative destruction should be all the evidence you need to know that we no longer have free market capitalism.

It has long since been corrupted.  We are at the stage now where those that have taken over that system are attempting to transition to something much worse.

 

A critical juncture to be sure.

 

Sat, 07/19/2014 - 18:07 | 4978069 williambanzai7
williambanzai7's picture

So now the markets have to be warned by a French lawyer, a litigation lawyer no less...

Sat, 07/19/2014 - 18:14 | 4978092 knukles
knukles's picture

... and banker and politician ... damn!  ... whadda resume!
Satan's wet dream....

Sat, 07/19/2014 - 18:21 | 4978115 stant
stant's picture

With a ouiji board

Sat, 07/19/2014 - 18:12 | 4978082 e_goldstein
e_goldstein's picture

So sayeth the witch queen of the oompa loompas.

Sat, 07/19/2014 - 18:26 | 4978127 Jumbotron
Jumbotron's picture

The Red Queen

Sat, 07/19/2014 - 19:27 | 4978324 joego1
joego1's picture

More like orangey green queen.

Sat, 07/19/2014 - 18:24 | 4978125 buzzsaw99
buzzsaw99's picture

because the imf cares so much about the stock markets?

Sat, 07/19/2014 - 18:36 | 4978151 TheRideNeverEnds
TheRideNeverEnds's picture

Hmmm, maybe its because every down-tick in the past two decades has been met with ever more frantic money printing, bailouts, and taking rates to basically zero bringing us to a point where the entire valuation of the market hinges on the dictations of a body of en-elected, unaccountable oligarchs whose stated goal is inflation.  

 

Or maybe I am missing something.....

Sat, 07/19/2014 - 18:34 | 4978158 ross81
ross81's picture

Step away from the sunbed

Sat, 07/19/2014 - 18:56 | 4978228 medium giraffe
medium giraffe's picture

Orange is the new black (swan).

Sat, 07/19/2014 - 18:50 | 4978208 Tarshatha
Tarshatha's picture

Maybe Rothschild's whore used numerology to deduce this as well. 

Official 2014 IMF Forecast Based on ‘Magic Number Seven’-Steve Quayle

 

http://usawatchdog.com/official-2014-imf-forecast-based-on-magic-number-...

Sat, 07/19/2014 - 18:54 | 4978221 Tall Tom
Tall Tom's picture

Well it is the beginning of July 20. (I know it is still July 19 East of the International Date Line...)

 

What time did she announce this?

 

Let's see how this pans out. What is Ms. Legarde planning?

Sat, 07/19/2014 - 19:52 | 4978400 layman_please
layman_please's picture

it depends, were the previous 7 years the years of plenty or the years of famine

Sat, 07/19/2014 - 19:02 | 4978249 iamtheeggman wh...
iamtheeggman whooooooooooooo's picture

Is it true her tan ran the Paris Marathon?

Guees she remains "indoors" on those days.

Sat, 07/19/2014 - 19:12 | 4978274 ThisIsBob
ThisIsBob's picture

Tell it to price, Christine.

Sat, 07/19/2014 - 19:12 | 4978275 AgeOfJefferson
AgeOfJefferson's picture

That's IMF talk for "We don't know what the heck we're doing either."

Sun, 07/20/2014 - 02:56 | 4979122 bunnyswanson
bunnyswanson's picture

IMF et al know exactly what they are doing.  Destroying our currencies, banking structure, and economies because a one world bank and a one world government is what they've been talking about - to make it easier to trade, you see.  And they've made it happen.  The fact that tens of thousands of commentators on the internet saw this coming years ago, it is on record.  If IMF and their mob members miss what ordinary everyday people on the internet have been faithfully and relentlessly warning us about since 2008, what would that say about their ability to do their job?  This last minute warning is for the record but we all know it is orchestrated to create order of out chaos in their grande scheme...a God complex attempt to rule the world without a vote, and in the process, destroy the middle class.  EU is part one.  We see how that is coming along.  these people need to be removed from their positions and new blood with no connection to the tainted financial sector we see around us.  I'd like to make a special request that they call Karen Hudes off Youtube; the homosapiens responsible for this fiasco have no excuse.

Sat, 07/19/2014 - 19:14 | 4978279 Keltner Channel Surf
Keltner Channel Surf's picture

Annoyed not only from the mention of "macro-prudentlal", that damn insurance company that keeps cold-calling me, but also that Iggy Pop in drag IMF leader joining the chorus of big-Whigs trying to prick the stock bubble while whining re: "low inflation", while Yellen's irrational exuberance sell-side analysis stemmed directly from her fear of having to raise rates early because of inflation.  Arrrgh.

Sat, 07/19/2014 - 19:36 | 4978347 joego1
joego1's picture

Her little  macro poodle is going to be squashed flat when the big bang bubble from hell blows.

Sat, 07/19/2014 - 19:25 | 4978315 Zero Govt
Zero Govt's picture

well at least Lagarde admits massive Govt debt is a drag on growth and unemployment

she's only a few dots unconnected away from waking up the massive cost of Govt administration, like the unaccountable unelected and totally useless IMF itself, is a drag too

can she connect the last few dots???

nah 

Sat, 07/19/2014 - 19:58 | 4978412 grekko
grekko's picture

I doubt it as well.

Sat, 07/19/2014 - 20:05 | 4978419 layman_please
layman_please's picture

not to worry. we here, in europe, have two pioneering governments who just in 2013 figured it all out, with the help of imf of course. one of them even lowered their dept to gdp by 8%. and, well, the other one, they didn't need a single dime of public money to (un)save their banks.

Sat, 07/19/2014 - 19:42 | 4978376 Coletrane
Coletrane's picture

pushing the brakes does no good when the pads are gone.

Sun, 07/20/2014 - 12:42 | 4980054 Emergency Ward
Emergency Ward's picture

you get a good loud scraping and squealing sound while not stopping.

Sat, 07/19/2014 - 19:51 | 4978392 Wahooo
Wahooo's picture

Another central banker calls the bottom.

Sun, 07/20/2014 - 04:54 | 4979178 litemine
litemine's picture

I believe it's "and another one Bites the Dust".................Nail gun operator.

Sat, 07/19/2014 - 19:53 | 4978401 Bunga Bunga
Bunga Bunga's picture

Do these pussies think they are god? The market is evil and won't listen to any advice.

Sat, 07/19/2014 - 19:56 | 4978406 Goldbugger
Goldbugger's picture

So her 7/20/14 warning to her elite friends was to get out of the market.

Sat, 07/19/2014 - 19:56 | 4978407 grekko
grekko's picture

It is all part of the master plan.  Create the debt problem, then as it festers before the blow-off, act like the icon of wisdom.  Then hit the reset button and bring in the SDR.  Oh High and Mighty Lords of Financialization, bring us more of you economic hit-men.  We can all be Greece.  Once more, the hegelian dialect.

 

Clean your guns, stack your PMs, organize your food-stuffs, and batten down the hatches.  The French bitch has spoken.

 

This article is called   "Silver Suppressors Hiding In The Dark" ... at this link, it's long, but very informative...http://www.silver-investor.com/

 

 

Sat, 07/19/2014 - 19:56 | 4978408 Goldbugger
Goldbugger's picture

The bricks say fuck the IMF

Sat, 07/19/2014 - 20:00 | 4978423 grekko
grekko's picture

When SHTF, I got dibbs on the Bernank and Lagarde, and if I have time, Blythe Masters (she's gonna suffer good first).

Sat, 07/19/2014 - 20:06 | 4978437 Buster Cherry
Buster Cherry's picture

Oui are so fuqued......

Sat, 07/19/2014 - 20:24 | 4978487 kurt
kurt's picture

I've got it!

To sound like an erudite Fed wonk, intellectual and irreverent, WRITE WHILE DRUNK ON YOUR ASS!

Sat, 07/19/2014 - 20:35 | 4978512 tony wilson
tony wilson's picture

this leather faced dried up cunt said the g7 was a numbers game in jan,months before russia was kicked out.

this witch is a kabbalistic saturn lovin child killn satanist and way too orange for my likiing.

Sat, 07/19/2014 - 21:15 | 4978618 jim249
jim249's picture

We need a "Babe" vote. Which is the best looking. Up arrow vote for Yellen, down arrow vote for Legarde.

Sat, 07/19/2014 - 23:50 | 4978985 motorollin
motorollin's picture

I have never ignored the arrows on a comment so hard.

Sat, 07/19/2014 - 21:45 | 4978712 WTFUD
WTFUD's picture

Designer Trash SlaGarde

Sat, 07/19/2014 - 21:46 | 4978721 conscious being
conscious being's picture

Saying these things in July when everyone is at the beach is just a way to be on record saying "I told you so." When it all comes down.

Sat, 07/19/2014 - 23:02 | 4978904 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

When Greenspan came out with his irrational exuberance speech the Dow was  at 5600.

 

Tuco Benedicto Pacifico Juan Maria Ramirez

Sat, 07/19/2014 - 22:56 | 4978888 flyingcaveman
flyingcaveman's picture

Inflated market

Swollen walnut clit

 

What is scarier?

Sun, 07/20/2014 - 07:20 | 4979237 AdvancingTime
AdvancingTime's picture

Sounds like they now want us to buy and lock into their low interest rate government bonds. Fact is the IMF is a tool of the Western developed countries that provide its funding. This means that when the IMF rubber stamps a policy it means very little and we should not be reassured.

The pool of money the IMF loans and redistributes around the world helps to stabilize countries if they are failing or economically unstable.  But many people do not understand who, and how they are funded. While the IMF exerts a fair amount of influence, it is political in nature and pushes the way the wind blows.

This bring up the issue and questions as to how muddled this system is. With a loud voice the IMF is overrated, it often uses only a small amount of money to make the very desperate march in line, at times this means not solving problems but helping to kick the can down the road. For more on the IMF see the article below.

 http://brucewilds.blogspot.com/2013/04/imf-overrated-institution.html

Sun, 07/20/2014 - 07:33 | 4979249 Batman11
Batman11's picture

The crash must be close  .....  all these important bodies abandoning "efficient market hypothesis" and saying there is a bubble in markets.

The one lesson they did learn from 2008, say something before it all goes wrong so you don't look like a complete idiot.

 

 

Sun, 07/20/2014 - 07:58 | 4979278 Batman11
Batman11's picture

Just imagine if markets had been allowed to work their magic in 2008  .....  all the major investment banks on Wall Street would have gone under.

Two global recessions - 1930s now 

Two Wall Street crashes – 1929, 2008

Trace the time lines of global recessions back to the first major event and you get to Wall Street.

If markets had been allowed to do their work and rid the system of dead wood, the foolish and the incompetent, the global economy’s weakest link, Wall Street, would be a lot safer without its major investment banks.

Sun, 07/20/2014 - 12:17 | 4979943 Emergency Ward
Emergency Ward's picture

Try the Ouija board, see what comes up "777".  What do the animal spirits say?  Is there irrational exuberance? ? Will an invasion by space aliens boost the economy?

Call in the witch doctors to cast some spells over this economy for Allah's sake.  Maybe the angels can help, hey Mikey, Raphael, Uriel and Gabby!

That is the content of the new curriculum for a PHD in macro economics.

The only thing that they will ignore is the advice, "don't play with it, it will grow by itself."

Do NOT follow this link or you will be banned from the site!