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Cleveland Fed Head Unleashes The "C" Word

Tyler Durden's picture




 

Newly minted Cleveland Fed Head Loretta Mester appears to have snuffed out the candle of hope that all is well in the world of financial markets. Pulling what can only be described as a "Juncker", she just unleashed the 'c' word...

 

h/t @michaelsderby

*  *  *

We can only assume she chose not to look at Treasury repo rates, Fails-to-Deliver, or corporate bond liquidity - just to name 3 entirely broken, fragile, Fed-demolished markets...

 

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Wed, 09/24/2014 - 13:25 | 5252415 El Oregonian
El Oregonian's picture

C

Wed, 09/24/2014 - 13:24 | 5252422 aleph0
aleph0's picture

Clueless

Wed, 09/24/2014 - 13:26 | 5252437 El Oregonian
El Oregonian's picture

Carpetbagger

Wed, 09/24/2014 - 13:28 | 5252448 nope-1004
nope-1004's picture

Corrupt

Wed, 09/24/2014 - 13:36 | 5252505 Richard Chesler
Richard Chesler's picture

Time to take Chips off the table.

 

Wed, 09/24/2014 - 13:38 | 5252509 madcows
madcows's picture

did you cash out or just move it to a different type of paper?  just wondering.  I don't think there is anywhere safe to hide.

Wed, 09/24/2014 - 13:51 | 5252563 Looney
Looney's picture

... “the C-word”

I was looking for my favorite “cunt”, but… it ain’t there…

I feel cheated… and neglected?  ;-)

Looney

Wed, 09/24/2014 - 13:59 | 5252592 NidStyles
NidStyles's picture

These people are fucking delusional. I see signs of revolt starting to be the next phase.

Wed, 09/24/2014 - 14:52 | 5252809 BuddyEffed
BuddyEffed's picture

things that are "C"ontracting tend to fit into smaller "C"ontainers

Wed, 09/24/2014 - 14:52 | 5252816 XitSam
XitSam's picture

Corzine

Wed, 09/24/2014 - 14:58 | 5252840 Squid Viscous
Squid Viscous's picture

Chosen?

Wed, 09/24/2014 - 15:11 | 5252885 madcows
madcows's picture

There can be only one chosen one.

Wed, 09/24/2014 - 15:21 | 5252922 7.62x54r
7.62x54r's picture

Catastrophe.

Wed, 09/24/2014 - 15:53 | 5253072 Bunga Bunga
Bunga Bunga's picture

Comical Ali.

Wed, 09/24/2014 - 19:51 | 5253922 fiftybagger
fiftybagger's picture

Crazy clueless clown cabal cannot contain country's careen concerning certain complete catastrophic collapse

Silver For The People

Wed, 09/24/2014 - 15:11 | 5252883 madcows
madcows's picture

I reserve that word for very few people, like Hildabeast, Piglosi, Boxer, Ginsberg, and the wookie...  Hubristic, Left wing moonbats that want to rule me.  Hey, C&*!$ I'm not your subject, go to hell.

Wed, 09/24/2014 - 13:58 | 5252593 Dr. Richard Head
Dr. Richard Head's picture

Contained "for now", I agree.  Contained later?  We shall see.

Wed, 09/24/2014 - 16:39 | 5253246 Glasnost
Glasnost's picture

While you can't eat paper, you can eat food you bought with paper while it was still worth something.

Wed, 09/24/2014 - 13:57 | 5252587 Martial
Martial's picture

Jack of all trades, Mester of none.

Wed, 09/24/2014 - 13:59 | 5252599 Dr. Richard Head
Dr. Richard Head's picture

The Fed's mandate is to jack-off all trades of their primary dealers.  Fiat crack dealers that is.

Wed, 09/24/2014 - 14:33 | 5252751 negative rates
negative rates's picture

And that aint no way to run a country.

Wed, 09/24/2014 - 13:31 | 5252461 stinkhammer
stinkhammer's picture

C is for"Cookie" it's good enough for me

Wed, 09/24/2014 - 13:33 | 5252478 madcows
madcows's picture

Criminal, Contagion?  Conflagration? cockswabber? contempt?

Wed, 09/24/2014 - 14:27 | 5252729 Ironmaan
Ironmaan's picture

Conundrum, cock suckers, creeps, crooks, confounded, unConstitutional.

Wed, 09/24/2014 - 14:59 | 5252839 Ruffmuff
Ruffmuff's picture

Realeasing the C word. Must be cunt on Yellen. We all knew Benny was a furry faced cunt. Hillary is a fat ass cunt.  

I tried to trade cuntz, but the spread was too wide and too massive liquidity.

Wed, 09/24/2014 - 13:24 | 5252417 Racer
Racer's picture

They are so dumb they repeat their own moronic words

Wed, 09/24/2014 - 13:27 | 5252444 Winston Churchill
Winston Churchill's picture

Thats going to hurt.

A boomerang with teeth.

Wed, 09/24/2014 - 13:33 | 5252479 DeadFred
DeadFred's picture

There are only a finite number of ways to lie.

Wed, 09/24/2014 - 13:34 | 5252491 madcows
madcows's picture

Nah, they've got a printer with infinite ink, and an improbability drive.  Their dishonesty is literally unbounded.

Wed, 09/24/2014 - 13:40 | 5252526 DavidC
DavidC's picture

And the stock markets love it...

DavidC

Wed, 09/24/2014 - 13:24 | 5252419 BullyBearish
BullyBearish's picture

As a member of the FED, she obviously IS the "C" word

Wed, 09/24/2014 - 13:25 | 5252420 hedgeless_horseman
hedgeless_horseman's picture

 

 

I am going to wait until Cramer says that US Treasuries are fine, then panic.

Wed, 09/24/2014 - 13:25 | 5252421 highly debtful
highly debtful's picture

Reminds me of Chamberlain's "peace in our time"- speech. 

Wed, 09/24/2014 - 13:27 | 5252426 SoilMyselfRotten
SoilMyselfRotten's picture

While everyone listening to him uses the "F" word

Wed, 09/24/2014 - 13:25 | 5252431 Dr. Engali
Dr. Engali's picture

I'll wait until old yeller says it before I go short.

Wed, 09/24/2014 - 13:26 | 5252434 LawsofPhysics
LawsofPhysics's picture

...as his private jet is standing by to transport his family (and piles of PMs) to their Barbados property...

 

Execute Tim Geithner's "arsonists" already.  Nothing changes otherwise.

Wed, 09/24/2014 - 13:30 | 5252453 madcows
madcows's picture

it's all just Timmah's fault?  Seriously, the corruption goes well beyond one semi-retarded former treasurer with a strange facial likeness to a rat.

Wed, 09/24/2014 - 13:32 | 5252476 LawsofPhysics
LawsofPhysics's picture

no shit sherlock, but he was the first to admit that there was an ongoing fraud, and you have to start somewhere...

Stop crying like a little girl and offer up some more suggestions asshat.

Wed, 09/24/2014 - 13:37 | 5252500 madcows
madcows's picture

Easy there tough guy.  time to back off on the anger pills.  Put your Grrr face away.

Wed, 09/24/2014 - 13:41 | 5252532 JRobby
JRobby's picture

Or you might become frightened and "call in" a DV?

What a tool.

Wed, 09/24/2014 - 13:47 | 5252551 madcows
madcows's picture

holy shit you guys are touchy.  why don't you go kick your dog or something.  maybe you should go cash in your obamacare and talk to a shrink.  they could probably back you off the ledge.

Wed, 09/24/2014 - 13:43 | 5252537 LawsofPhysics
LawsofPhysics's picture

Still too afraid to contribute?  okay pussy, let me help you out...

Jamie Dimon, Llyod Blankfein, Hank "tanks in the streets" Paulson, all the top brass at the PDs since 2000, all the members of congress since 2000...

It was a pretty simple question really...

Wed, 09/24/2014 - 13:52 | 5252556 madcows
madcows's picture

now i'm a pussy?  yeah, let's rumble.  holy crap.  what is this high school?  contribute?  what?  Your "Contribution" to the discussion is "SHOOT TIMMY".  Brilliant.  seriously.  youre gifted.

It's all a big fucking mess from DC to the Banks to Wall St and back.  that's the contribution.  chucklehead.

Wed, 09/24/2014 - 15:18 | 5252905 g'kar
g'kar's picture

You do seem a bit cuntentious.

Wed, 09/24/2014 - 15:20 | 5252916 Ruffmuff
Ruffmuff's picture

Billy Joel said we didn't start the fire but the fire keeps burning. So if anyone sees timmy boy, just tell him he sucks or like the guy at the gym that slugged dick fuld.  That's about all we could do. That's why they have country clubs, for assholes only. Whores, coke and more whores.

Been this way for centuries. NOthing ever changes, unless you change you.

Wed, 09/24/2014 - 13:28 | 5252439 lasvegaspersona
lasvegaspersona's picture

Where did the Feds find 'markets' to demolish?

Wed, 09/24/2014 - 13:27 | 5252440 madcows
madcows's picture

we're phucked now.

BTW, can you give us an update on subprime market?  How about the student loan market?

By "Contained" do you actually mean 100% subjugated?  FU Fed

Wed, 09/24/2014 - 13:36 | 5252503 TheFourthStooge-ing
TheFourthStooge-ing's picture

Contained... to Earth.

Wed, 09/24/2014 - 13:27 | 5252442 corporatewhore
corporatewhore's picture

be still my heart

Wed, 09/24/2014 - 13:32 | 5252469 Freedumb
Freedumb's picture

Well contained within muppets' retirement accounts who bought the worst junk we could sell 'em.

Wed, 09/24/2014 - 13:32 | 5252477 TheRideNeverEnds
TheRideNeverEnds's picture

It's a good thing this time is different or I may be worried about now.

Wed, 09/24/2014 - 13:39 | 5252516 zaphod42
zaphod42's picture

"This time is different" is FedSpeak for, "The fix is in."

Wed, 09/24/2014 - 14:19 | 5252694 disabledvet
disabledvet's picture

Yeah, no shit. "Phew! That was a close one! Nothing but clear sailing now fellers!"

Wed, 09/24/2014 - 13:35 | 5252494 lordbyroniv
lordbyroniv's picture

didnt the Bernanke say this just b4 everything imploded?

Wed, 09/24/2014 - 13:37 | 5252512 PTR
PTR's picture

Yes.  Hence, why you see said article posted.

 

 

Wed, 09/24/2014 - 13:35 | 5252497 Seasmoke
Seasmoke's picture

 I Noticed he said now. But that doesn't include tomorrow. 

Wed, 09/24/2014 - 13:36 | 5252502 zaphod42
zaphod42's picture

"Well contained" is FedSpeak for "The fix is in."

Wed, 09/24/2014 - 13:41 | 5252527 madcows
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I thought it meant Please don't panic, we just need more time to figure this time bomb out, which is perfectly under control b/c we're the FED and we're all powerful, and can fix anything.  Our printing press will fix everything.  We aren't hubristic, we're just Oz.

Wed, 09/24/2014 - 14:21 | 5252706 disabledvet
disabledvet's picture

"Just hand me that 9x7 two by six wrench and socket thingermadobob and we'll be good...

Wed, 09/24/2014 - 13:37 | 5252504 i_call_you_my_base
i_call_you_my_base's picture

Contained under a boot and lies.

Wed, 09/24/2014 - 13:38 | 5252515 youngman
youngman's picture

Contained means that they can just print trillions to cover up the mistakes of the banks...pretty nice job if you can get it....

Wed, 09/24/2014 - 13:38 | 5252517 kchrisc
kchrisc's picture

"...well contained..."

Spoken like a true criminal satisfied that her, their, crimes are still under wraps.

An American, not US subject.

 

"Guillotine the Fed!"

Wed, 09/24/2014 - 13:39 | 5252519 Duffy
Duffy's picture

She doesn't think breaking up the big banks woul be good policy - apparently not understanding that even if mega banks 'could' provide lower cost services, doesn't mean they 'will' - and that sometimes you pay a little extra to avoid a situation where fraud on the part of a single entity fucks it up for everyone else.

 

I swear to god the biggest trick the devil ever played was convincing people "economics" is a science and therefore "economists" can and should interfere in the free market.

 

They are quacks.  Krugman's prominence is ongoing proof that esoteric jargon mixed with numbers will convince most people most of the time that you know what you're talking about.

Wed, 09/24/2014 - 13:45 | 5252546 madcows
madcows's picture

The only correction I'd make to that is most normal people think economists are retards.  The jargon and the numbers is, however, sufficient for fooling the Nobel Prize folks.

Wed, 09/24/2014 - 16:06 | 5253124 Monty Burns
Monty Burns's picture

What do you call an economist with a forecast?

'Wrong'

Wed, 09/24/2014 - 13:44 | 5252538 Sleepless Knight
Sleepless Knight's picture

Contained like a fart in a wind storm.

Wed, 09/24/2014 - 13:45 | 5252544 Bell's 2 hearted
Bell's 2 hearted's picture

"well contained"

 

Really?

 

i just read the speech and "well contained" not used.  

 

Was this during a Q&A followup?

 

How about some fact checking here

 

i was suspicious anyone associated with FR would use "contained" after bernanke face plant

 

http://www.clevelandfed.org/For_the_Public/News_and_Media/Speeches/2014/...

Wed, 09/24/2014 - 13:48 | 5252553 q99x2
q99x2's picture

Why's he even saying that? Is something going to happen that we shouldn't know about?

Wed, 09/24/2014 - 15:28 | 5252951 Falconsixone
Falconsixone's picture

All is well!,,,,Kevin Bacon

Wed, 09/24/2014 - 13:49 | 5252555 Spungo
Spungo's picture

Thank god we have paper money. Can you imagine how heavy stuff would be if we had to gold over all our problems?

Wed, 09/24/2014 - 13:52 | 5252561 hotrod
hotrod's picture

Time for a new Hitler video.  

"Those Damn yanks printed there way out of it and when my beloved Germany tried it, we trashed our currency. Of course the WW1 reparatons were hell and it did get us out of that but I refuse to let them get away with it, Get ahold of Putin and Jintao tellem we gotta gold back now. And I want my Gold back.

Fuhrer, it is election time and all must look good.  Notice no one is talking about jobs or the economy and their making up stuff in the middle east to build a feeling Nationalism and achievement for their leaders.

Wed, 09/24/2014 - 14:02 | 5252602 GrinandBearit
GrinandBearit's picture

Stuttering Hank Paulson said the same exact thing about the banking system right before Sept 2008.

Wed, 09/24/2014 - 15:30 | 5252970 Falconsixone
Falconsixone's picture

I'm "run"ning to the bank (not taking it to the bank).

Wed, 09/24/2014 - 14:01 | 5252608 swass
swass's picture

Uh oh.  Time to stock up on mountain house, water, and ammo.  Is Obama saying the fundamentals of the economy are good yet? ... <check>

Wed, 09/24/2014 - 14:02 | 5252613 seek
seek's picture

Sounds like some Fed related news will be coming out on Friday: http://www.thisamericanlife.org/radio-archives/episode/536/the-secret-re...

 

Wed, 09/24/2014 - 14:09 | 5252638 joego1
joego1's picture

Contained like Fukusima?

Wed, 09/24/2014 - 14:11 | 5252656 CHX
CHX's picture

Contained like martians won't be affected.

Wed, 09/24/2014 - 14:14 | 5252666 shankster
shankster's picture

C = counterfeit

Wed, 09/24/2014 - 14:15 | 5252672 shankster
shankster's picture

Contained as well as Ebola in west africa.

Wed, 09/24/2014 - 14:15 | 5252675 shankster
shankster's picture

Contained like the US borders.

Wed, 09/24/2014 - 14:18 | 5252681 Toolshed
Toolshed's picture

The "C" word I would associate with Loretta ends with "UNT".

Wed, 09/24/2014 - 14:21 | 5252700 hotrod
hotrod's picture

http://mandelman.ml-implode.com/2014/08/mortgage-originations-are-down-b...

Nice article by Mandleman.  No it aint contained.

 

Any industry that experienced a 70 percent drop in sales would see bankruptcies popping like popcorn, but not this one.  And we could be talking about the Pet Toys industry… if Pet Toys saw sales decline by 70 percent in a single year, it would be front-page news, would it not?  Pet Toys… squeaky pet toys… sales down by 70 percent and Anderson Cooper is doing a special report on the situation.

But not this industry… not mortgage originators.  Somehow housing and mortgages have been painted with invisible ink, and can no longer be seen by anyone.  Mortgage originators can’t be harmed or cause harm to anyone or anything, because even with originations down by 60-70 percent… am I to believe everything’s okay because of these sorts of things”

Wed, 09/24/2014 - 15:24 | 5252931 Falconsixone
Falconsixone's picture

Pet toys....lol

Congress would never stand for a 70% drop in their incomes. They couldn't afford all the coke, booze and hookers they've become accustomed to.

Wed, 09/24/2014 - 15:03 | 5252857 Ban KKiller
Ban KKiller's picture

I don't have my copy of the Orwellian Newspeak dictionary handy. What does "contained" mean, again?

Wed, 09/24/2014 - 15:05 | 5252865 Atomizer
Atomizer's picture

Loretta Mester cunt punts hawkish lies. This is another example of a feminist cunt munching bitch lying about a pubic hair hanging in between her teeth.

Loretta will tell you it's black floss. Fuck you Loretta, I grew up in the suburbs of Cleveland, OH. The rich neighborhood. Pull the wool over your own bullshit head.

Wed, 09/24/2014 - 15:15 | 5252897 Falconsixone
Falconsixone's picture

500' deep well (the pumps out or it's dry) or oil well (very dirty and slippery)? Or, contained well (capped well)? Smells like the $hit house door on a tuna boat from down here.

Wed, 09/24/2014 - 15:40 | 5253008 Lea
Lea's picture

What C word?

Cleveland?

Wed, 09/24/2014 - 15:46 | 5253048 The9thDoctor
The9thDoctor's picture

"Well contained" means moar bailouts!

Wed, 09/24/2014 - 15:59 | 5253099 Cortez
Cortez's picture

Camera catches Cleveland chick's copious chompers.  Google image her.

Wed, 09/24/2014 - 16:52 | 5253287 Fishhawk
Fishhawk's picture

When a Fed head pulls a Juncker, you know Fed policy has jumped the shark.  The insiders know the wheels are coming off.  I would like to resign from this financial shitshow, but where would I go?  The rot has spread worldwide, and anywhere that hasn't accepted the rot is being bombed.  Looks like the timing on the legalization of marijuana is not a coincidence.

 

Wed, 09/24/2014 - 17:32 | 5253456 Fuku Ben
Fuku Ben's picture

Better contained than Ebola?

I won't even read above. I know someone already beat me to it.

Wed, 09/24/2014 - 17:44 | 5253489 House of Medici
House of Medici's picture

Cleveland Rocks

Wed, 09/24/2014 - 18:24 | 5253611 Motorhead
Motorhead's picture

Cleveland's Claude Cooper stole copper clappers....(old Johnny Carson-Jack Webb skit):

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

Wed, 09/24/2014 - 18:23 | 5253614 Paracelsus
Paracelsus's picture

Kredit-Anstalt

Kredit-Anstalt

Kredit-Anstalt

Kredit-Anstalt

Kredit-Anstalt 

Thu, 09/25/2014 - 08:34 | 5254934 AdvancingTime
AdvancingTime's picture

Sure all is stable, maybe it is and maybe it's not! Most investors think that even if things go downhill fast that they will be smart enough to get out of the markets. After the debacle in 2008 where they saw the market do nasty and violent swings they learned a few things, this time they figure they will make the right moves before it is to late. But what if it hits like the flash crash on steroids?

 For a long time I have been trying to develop a scenario for a market "super crash" and a reasonable map that would arrive at such a situation. Below you will find more on why this scenario could happen. We know that can't happen because circuit breakers have been put in place to arrest panic style moves, but imagine a market that falls, trade is halted, and the market simply does not reopen for days, or even weeks.

http://brucewilds.blogspot.com/2013/01/flash-crash-on-steroids.html

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