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Fed's Fisher Admits "Fed Has Levitated Markets", Warns Of "Signs Of Excess"
FOMC voting-member Richard Fisher is among the sanest voices in the Eccles Building asylum and he is once again sounding alarms that all is not well in US financial markets:
- *FISHER SAYS FED HAS 'LEVITATED' MARKETS
- *FISHER SAYS HE SEES SIGNS OF EXCESS IN FINANCIAL MARKETS
Furthermore, Fisher notes The Fed can't force companies to hire, and would like to see rate hikes as early as Spring 2015.
He is right of course...
And adds:
- *FISHER SAYS HE BACKS REDUCING REINVESTMENT BEFORE RAISING RATES
- *FISHER SAYS HE WANTS TO AVOID FED HAVING TO TIGHTEN 'SEVERELY'
- *FISHER SAYS HE WANTS TO SEE FIRST RATE MOVE IN SPRING 2015
- *FISHER SAYS HE'S IN THE SLOW AND GRADUAL SCHOOL ON RATE RISES
- *FISHER SAYS HE FAVORS RAISING RATES IN QTR-POINT INCREMENTS
Then reflects on the world...
- *FISHER SAYS ECB'S DRAGHI IS ONE OF THE GREAT CENTRAL BANKERS
- *FISHER SAYS FRENCH ECONOMY IS `UBER-WEAK' NOW
- *FISHER SAYS THERE ARE LIMITS TO WHAT ECB'S DRAGHI CAN DO
- *FISHER: ECB POLICY CONSTRAINED BY FRAGMENTED EURO FISCAL POLICY
- *FISHER SAYS JAPAN'S ECONOMY NEEDS A LOT OF STRUCTURAL CHANGE
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The FED did what they wanted to do. Make the TBTF banks rich and destroy the middle class. Mission acomplished.
Still plenty of blood left in that turnip.
Look!! JESUS!!!!
*Channels Sam Kinison*
"Levitate? Like a 'BUBBLE?'
Say 'BUBBLE!'
SAY IT!!!!
SAY IT!!!!!!!"
*FISHER SAYS ECB'S DRAGHI IS ONE OF THE GREAT CENTRAL BANKERS
Fisher's credibility just went to the toilet with that statement.
It's what I've been saying here that the Feral Reserve has got to save its own ass now and fuck Obozo and all the sheeple who let him into office.
I don't give a shit anymore. Simple.
Just wanted to say that aloud.
Nothing irrational about this exuberance..
Unlike the dot com bubble, the Fed and its evil owner banks deliberately engineered this one.
Soon it will be time to deflate the bubble and steal the assets from the institutions (pension, mutual funds/401Ks etc.) at bargain basement prices.
" steal the assets from the institutions (pension, mutual funds/401Ks etc.) at bargain basement prices."
Only if one is particiapting. I'm not participating in this manipulated cherade.
If you don't give a shit, you don't take any shit and I personally like my shit free life....
Fisher's credibility went down the toilet long before that statement. The moment he panicked and said QE... QE...... QE we must have moar QE! just because the "market"was headed south in 2011 is the moment he showed who his true colors.
He is the token Banker who plays the bad cop. It's all stage managed for the sheep.
Not to worry, he will still have a place in line for the guillotine when the time comes.
Signs of excess? That's a sad fucking statement coming from a supposed Fed "hawk". Just another manipulator who wants to avoid fault when TSHTF. It's very sad that so many sell their principles and integrity for 15 minutes of power and a few extra sheckles.
playing second fiddle to the Fischer king...who says "vee muhhhst have Moar money - get to work Yellen you lazy schmuck"
Are these people saying this just to cover their ass?
What obvious observation are these fools going to say next? Lets see...
Gold is suppressed, Wall Street is full of insiders, the sky is blue.
Of course then its on to more propaganda blather.
So predictable.
indeed, everything is released for public consumption for a reason...
if you know the reason, you might be able to make a profitable trade...
same as it ever was (at least since 1913).
Actually "this time is different." As in ILLEGAL.
The Fed Charter has been thrown in the dumpster. Yet no one asks "why did we have that stupid Charter in the first place?" (Especially Volker...freedom phucker number one in my book.)
Everyone is "in on it." Very interesting...the charge of Conspiracy against Goering. First "they civilly put them all in seperate cells" then "brought in the psych wardens to get them to admit they all were a bunch of psycho's."
Bwhahahahahaha. How civilized! "A trial about how the next war would be fought"...including sources and methods...all for the world to see.
Government planning is in fact "a conspiracy"? Goering was too busy memorializing is dead wife and throw huge parties. That was his true "crime against humanity." He had taste and "indulgences."
Yet he was no Nero.
Unlike the Fed.
Or Wall Street.
Keep believing the people who have bought and paid for the election are in fact the Government....
it's not a conspiracy until the sheeple find out. then everyone runs around screaming 'it was a conspiracy all along' long after all the pillaging has been accomplished.
speaking of conspiracies, it strikes me that ZH has been peppered with a lot of bias-confirming articles lately. by that i mean a lot of 'the sky is blue, water is wet' type of articles... makes me wonder if that is for all of te newbs (to the eye-rolls of those who've been around a little longer, i imagine), or if Tylers have just said 'fuck it' like everyone else and started phoning it in.
and they kept the Federal Government funded....
Bullish!!!
Sounds like he may be scheduled for a boating accident this weekend?
FFF--Fuck Fisher and the Fed
and there it is. I am telling you, the real inflationary forces of people on SNAP or medicare for simple survival is huge. This real liability alone cannot be masked/hidden much longer in the west. Government paper must be bought because exponential equations (which are driving those real inflationary pressures) are a bitch.
That is my (what now appears to be a contrarian) hypothesis..
The recent increase in yeilds is nothing but a CB/government shakedown to get the weak hands out, it's about, and always has been about, maintaining power and control, period. People still have faith in fiat, and so long as this is the case, this can continue, period.
SNAP inflationary?
Try again
individual monthly ... $124.13
household monthly ... $254.10
http://www.fns.usda.gov/sites/default/files/pd/34SNAPmonthly.pdf
FAIL -- it's not the payout asshat, it's what you can actually purchase with that payout.
Are you telling me that the $254.10 buys more than it did pre-crisis? LMFAO!!!!!
More like more FAIL on your part
read the prior fiscal years
FY2011
FY2012
FY2013
payouts all HIGHER than current
Still ignoring the corresponding increase in rent, food, and fuel I see.
Again, good luck with that.
wasn't part of the question
referring only to your SNAP comment
"referring only to your SNAP comment" -- which you clearly don't understand. Those minor increases are not keeping up with the cost of rent, food, and fuel, or municipal services which is the only thing these folks give a shit about. That liability will have to increase, hence rates on government paper must stay low, period.
Not a very critical thinker are you?
minor "increases"?
payout is DECREASING
not at all inflationary
furthermore, the Republicans control the House (and will likely for foreseeable future) ... highly unlikely they vote to increase payout.
"highly unlikely they vote to increase payout." - precisely why the increases in the cost of living will not be covered and they will change their tune when all those municipalities start going bankrupt because they cannot turn off the power or water to the section 8 housing.
Please change your moniker newbie. You are doing a huge disservice to a great beer.
haha
this place reminds me of the cantina scene in Star Wars
i wear downvotes with glee
and fuck the rest of the Fed too
Fisher.... the pretend Fed Hawk. He shows his true colors the moment the "markets" show any signs of instability.
Fed prezzes and governors all the same
i follow their speeches closely (a couple or so speak just about every week) ... ANY downturn in market is met with "FR stands ready to do whatever is necessary" ... and markets levitate on jawboning.
Draghi so proud
suck it dick
"FISHER SAYS HE WANTS TO AVOID FED HAVING TO TIGHTEN 'SEVERELY'"
Ha ... that will be the least of his worries
If the FFR gets above 1% anytime in the next 5 years ... beer on me ...
The plane has frosted windscreen; pilot apparently succumbed to hypoxia. Stay tuned, it and I and the Fleck won't be long.
"FOMC voting-member Richard Fisher is among the sanest voices in the Eccles Building asylum"
Seriously, how can anyone trust a single word these fuckers say ?
I don't trust one word that comes out of Fisher's mouth, or any other the other Fed fuckers.
But he's an expert!
Oh, ye of little faith.
;)
But I do have faith - in statements such as:
"When it becomes serious, you have to lie"
-- Jean-Claude Juncker
I guess you could rephrase it as "who sounds the least batshit insane".
No way in hell rates will rise - GAME OVER for the Rothschilds castle-dwellers if they rise.
How about this Fish....STFU.
Hell he may be worse than the rest of the Fed thieves because he pretends to be a "Hawk". Hawk my ass.
Judas Iscariot of the Fed. When the Mkts crow thrice...more QE it will be.
Fridays are the toughest to figure if some weekend issue will cause Monday drop.
2/7 = 28% of the week !
Short of breath...waiting.
Too bad Fisher and Plosser are the only ones who think that way and sadly they're outvoted every time.
"Missed it by that much."
and they go away next year.
9 months from now, when the economy and housing are hurting, we will see how futile this has also been.
You will also here endless cries of its the Republican Congress fault from the usuall suspsct suspects.
Is being named Fisher,, or some variant,, a requirement of being on the FED?
Asians are allowed, such as Sum Nu Ju.
Fisher is a dude. His license plate reads: "TZA"
Remember this from
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002
Deflation: Making Sure "It" Doesn't Happen Here
http://www.federalreserve.gov/BOARDDOCS/Speeches/2002/20021121/default.htm
Conclusion
Sustained deflation can be highly destructive to a modern economy and should be strongly resisted. Fortunately, for the foreseeable future, the chances of a serious deflation in the United States appear remote indeed, in large part because of our economy's underlying strengths but also because of the determination of the Federal Reserve and other U.S. policymakers to act preemptively against deflationary pressures. Moreover, as I have discussed today, a variety of policy responses are available should deflation appear to be taking hold. Because some of these alternative policy tools are relatively less familiar, they may raise practical problems of implementation and of calibration of their likely economic effects. For this reason, as I have emphasized, prevention of deflation is preferable to cure. Nevertheless, I hope to have persuaded you that the Federal Reserve and other economic policymakers would be far from helpless in the face of deflation, even should the federal funds rate hit its zero bound.19
Fisher is a nobody. He has 0 input in the panel of insane money printers.
pure fucking comedy gold, bitchez...
'Raise rates gradually over like a 100 year period by 1/4 point every decade or so'.....yea whatever dick.
LMFAO!!!!!!!!!!!!!!!!!
The Fed is infighting.
Good job yellen - even your own board hates your guts. Working for barry isn't as much fun as you thought it would be, right?
So do something about it DICK!
Fisher also said, "In the coming weeks, the FED may be forced to prop up Alibaba's share price to protect the major investment banks interests"
Yeah, the Fed won't raise rates until the US dollar free-falls out of control.
Once the Zimbabwe economic plan takes hold.
Quote:
"Avoid tighten severely"
Translation:
They are planning just that
Again, the consumate optimist. Go ahead, raise rates motherfuckers. I know what the liability side of the government balance sheet really looks like.
You know I seriously doubt that Fisher's message was to go short more paper gold and silver.
http://winteractionables.com/?p=14736
if fischer is what counts for 'truth' now, you realize how fucked things are when most people are listening to this....and using their relativistic availability heuristic to put this on their mind map.
this is how people get brainwashed. thinking the msm outlier who says something 'contra' is giving a 'side' of the truth.
How is Fisher who used to the head of the Israeli Central Bank now a Govenor at the U,S. FED?
In other words, how in the hell is an Israeli allowed to put his hands on the U.S. printing press?
I don't care about "dual" citizenship. You should have to pick one or the other. Who is the true allegiance to? I bet not the U.S.
Do we have a "real" leader in charge in the U.S. or is everyone from top to bottom just completly bought out?
I have a feeling it is the latter.
That's Richard Fisher, not Stanley Fischer. But I get your point.
how in the hell is an Israeli allowed to put his hands on the U.S. printing press?
The Israelis own it; ever since Warburg and Kuhn, Loeb devised the Federal Reserve System the currency's not been in the hands of the American people.
Which explains not only who does Fed Vice Chair Stanley Fischer serve but also the rest of the Fed operatives.
With two citizenships we can trust neither Stanley to put the interests of the United States first nor the rest of the 41 members of Congress who hold U.S. Israeli dual citizenships. This is a sovereign country; it is not a government of the world. Fischer has proven by taken the position as head of Israel’s central bank that he doesn’t put US loyalty first. His idea is to use the US as a global monetary tool to fashion the elites’ “new world order.”
ZH blogger Danno Anderson’s recent analysis of Fischer’s speech is a glaring expose of the political spin and cover up by the banker-owned MSM of the debt crisis that is sinking America.
Here’s the speech, followed by Danno’s analysis:
2014 http://www.federalreserve.gov/newsevents/speech/fischer20140811a.htm
Stanley Fischer gave a recent speech in Stockholm, Sweden and said at the outset that this was his personal outlook, not US policy. Nevertheless we better pay attention and try to anticipate what is really going on here.
Stanley Fischer has dual US-Israel citizenship and was formerly head of the Bank of Israel, which is the central bank of that country. He now lives in San Francisco.
1. Stanley Fischer uses IMF stats like "The IMF expects global growth to reach 4 percent next year." 4% lol and PIGS can fly too. The IMF employs over 2000 economists and has never looked forward and anticipated anything correctly, IMO.
2. While Barack (citizen of the world) Hussein Obama and Janet Yellen proclaim the US economy is doing great, Stanley Fischer says both the US economy and the world's economy are disappointing. So he's not parroting the partly line, yet has been appointed chief of some new policy committee.. hhhmmm Is he going to be the new 'fall on his sword" guy with bad news or what the devil is going on here ? Should we be getting ready for new drastic government intervention or what ?
3. Stanley Fischer "This pattern of disappointment and downward revision sets up the first, and the basic, challenge on the list of issues policymakers face in moving ahead: restoring growth, if that is possible." If that is possible huh ? The US economy has recovered for Banksters, government bureaucrats, farmers, the oil industry and military sales. Everybody else is still waiting contrary to the proclamations from Obama, Yellen and so many others.
4. Stanley Fischer "The difficulty in disentangling demand and supply factors makes the job of the monetary policymaker especially hard.." I've got a revelation for you Stanley, it's really simple. As Pat Buchanan and Ross Perot and even ol Danno stated 20 years ago, NAFTA (North American Free Trade Agreement) courtesy of Bill Clinton's great mind, has been a disaster for the Amerikan working stiffs and most of the US economy.
If a country consumes more than it produces, it becomes poorer. Simple. Period.
5. Stanley Fischer "but it would be better to understand why growth has been so slow without experiencing either a run up in inflation or a descent into deflation." Answer: The newly created money all stayed at the top with your buddies the Banksters and you know it, you lying bastard.
6. Stanley Fischer "The stance of U.S. fiscal policy in recent years constituted a significant drag on growth as the large budget deficit was reduced." Stanley Fischer have you no shame ? I know that you know, the US budget deficit is larger than ever and is spinning out of control. So this is why you gave this speech in Sweden instead of the US, lol.
7. Stanley Fischer "The considerable slowdown in the growth rate of labor supply observed over the past decade is a source of concern for the prospects of U.S. output growth." ROTFLMAO not enough workers in the US, you liar. Maybe this is why Barack citizen of the world Obama is importing all those immigrants from south of the US border. lol
8. Stanley Fischer "More than six years later, policymakers around the globe have made substantial progress in strengthening the financial system and reducing the probability of future financial crises." Oh yeah, with the US national debt, we're gonna see about that real soon. And all the rest of the world's ponzi scheme debt too.
9. Stanley Fischer "In summary, considerable progress has been made in strengthening bank capital and liquidity" "I consider quantitative easing to have been largely successful," While the NYC Banksters have been looting the system for a fortune, over two thousand local banks in the US have failed in the last six years.
41 members of Congress who hold U.S. Israeli dual citizenships
What surprises me is that they appointed tribesmen (sic) to the top two positions at the Fed given that they totally control it anyway. Either they're so confident they no longer care about the optics or else they're losing their touch.
you don't understand what the fed is. don't compalin about the wrong person not being who you want them to be.
none of them are who you want.
you are missing the forest for the trees here.
to boot , it's the wrong damn fischer! the one you're complaining out wants to print to the moon to boot!
Through the decades, the American economy has suffered from the principles of Keynes.
But this time it’s different. With the wholesale purchase of the politicians by central bankers, the complete functioning of markets has been transferred to the control of Shylocks the likes of Richard Fisher. They well decide who wins and who losses, they will decide who gets interest on their labor: they will decide who must suffer for the benefit of the system.
Fisher’s list of points, all telling the markets what to do, has entered the final phase where the world economy, as it must, will force the central bankers to submit to its power. The markets have power and will not be denied their function. The central bankers are destroying countries, are waging wars, are amassing incredible debt around the world, and have people highly upset.
The 21st century should have been a period of peace and prosperity; instead it is a period of turmoil, of crisis for cultures, of fighting and divisions brought on by the absence of positive negotiation and markets where people can trade with each other for mutual benefit, not only products and services, but for a better world.
These people, the Shylocks, want to control everything, for the sole benefit of themselves - for the international bankers.
This Fed tyranny must be dissovled before it destroys all the basic creative activities of mankind, before it destroys all ethical law that created Western civilization, before it sullies the entire moral sphere that built America's economic prosperity.
Great comment but I think you're WAY too optimistic about the capacity of 'the markets' to bring down the banksters. These guys literally control the money spigot and thereby interest rates. Hard to beat that.
But the economy is slapping back, hard.
We are in a serious recession for most of the country; the jobs report was horrible. A sizable numbers of workers who have jobs are making less than before, many small stocks and companies are hurting bad in bear territory down 24% and some 50%, jobs have been offshored or given to foreigners at home, Americans have been deprived of interest income,, the economy is now concentrating all wealth in the hands of a few elite the way it does in a Third World country, four or five times more people are on food stamps than in manufacturing jobs, the country is not producing growth, the middle class is sinking…
America’s economic stars shine in the middle-class: her traders, small merchants, professionals, highly-skilled workers, innovators... Destroy America’s middle class, her “Dickson McCunns,” and you destroy America.
The bankers consistently use media to discredit officials such as former Democratic Representative Jim Traficant, but his recent quote has the ring of truth...and danger.
According Traficant in his AFP column this month, “some 95% of all retail sales are made by big retailers.”
The mall is not Main Street. In fact, the national chain retailers are the receivers from the banker heist; Main Street America with its small businesses and community enterprises is being put out of business. The big guys, aided and abetted by the Fed, are destroying their competition; competition that means less money for them and more work for their people. That's the way they live, how they thrive as Leviathans.
Worse, according to Internet Retailer in mid-2013 in an article “Big and Getting Bigger," of the Top 500 retailers, ”the Top 10 merchants accounted for 52% of all 2012 Top 500 sales.”
As for a collapse that would take out the Fed, here’s an interesting throught:
Just Three Days?
Author : Bill Holter
Published: September 18th, 2014
So many topics to choose from today, Russia is pushing back on sanctions and has already begun to cut gas supplies to Europe. The Scottish independence vote which if "yes" means the end to a 1,000 year empire and brings into question the Anglo American banking and financial systems themselves. The ISIS situation and whether (in reality "how") we go back there with boots on the ground or not. We also have the FOMC meeting and statement coming today where we will find out whether QE will be publicly discontinued or not …I say "publicly" because the reality is such that QE will remain forever whether admittedly or in the shadows and hidden from view. We also have news of India tripling their gold demand as new physical gold exchanges open in China tomorrow. The "live" date has been pushed forward by a week or more, I can only wonder what this means because the Chinese NEVER do anything by chance or without reason.
I could have chosen any of these topics but I had a conversation with a very long time friend and client this morning and he brought up the question that seems to be burning in everyone’s mind, "when?". When does everything come apart at the seams? Please don’t get this wrong, he was not asking me "when?" I thought, rather, he was commenting on how many people are expecting some sort of "slow burn". He said "so many people think this will be 3 years, 5 years or even 12 years" to unravel.
Here is the point, the "fuse", or I should say "fuses" are lit from so many different directions I don’t have enough fingers and toes to count them all. Only one fuse (cause) needs to reach the powder keg but the way it looks to me is we will more than likely see many reach the powder at the same time. When I say same time I believe all within the same week as many are interconnected and many will be advanced by the ignition of others.
When my buddy said "3 years" I immediately said to him "you mean 3 days right?". He said to me "that’s exactly what I’m talking about, once this thing goes how can it last more than 3 days?". Let me explain this, once we "ignite" I don’t see how the markets can function for any more than 3 days (two weeks at the absolute maximum) before being closed. Today, everything relies on everything else for "value" or "foundation". It’s like a building block tower where pulling even one block will take the whole thing down…and this happens quickly, NOT in some slow motion, slow burn or controlled collapse. This would be nice but unfortunately not the case.
More…
He also said he's like to get his pink slip as early as Spring 2015...
Richard Fisher,
You do NOT show people these
http://www.showrealhist.com/RHandRD.html
Why? (Because they are TOO STRONG evidence!)
It wasn't enough for the bankers to take from the laborers and the savers, they had to skim from the houses. We're fighting a greedy enemy.
See the "Recently and unprecedentedly, ..." sentence at the start here:
http://www.showrealhist.com/RD_RJShomes_PSav.html
As you say, both “home prices and stock prices ((expressed in consumer purchasing power) have been contemporaneously far above extrapolated history,” but even more interesting, to me, as you say regarding the “the power of manipulation” since QE began 1-Dec-2008, had market forces been in play, by August 2014…
“The last Real Homes price would have to be 20% lower to equal extrapolated history (ca. 54).
“The last Real Dow price would have to be 53% lower to equal extrapolated history (50).”
The Real Dow was the Manipulation winner. Home owners, IMO, took a double whammy, believing themselves to be prudent invested in a home only to have that home equity - saved throught the years - stolen deliberately through plunging prices or foreclosure because of Fed hype and then bust.
The Real Dow, peaking at 100% in 2000 and again in 2008, plunged to barely above 50% on 1-Dec-2008 - but through QE manipulation rose rapidly from 50%, surpassing both its 2000 and 2008 peaks to arrive at nearly 110% in August 2014. As your charts show.
On the other hand, when MANIPULATED MARKETS QE began 1-Dec-2008, Real Homes’ purchasing power, which already had fallen from 100% of maxim in 2006 to about 65%, rose during QE manipulation to only about 68% of peak by 2014 Q1.
All deliberate.
As G. Edward Griffin would say for Wall Street: “Not too shabby.”