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When Even Bloomberg Jokes About It...
When even Bloomberg jokes about the market's levitation...
You know the central planners have gone too far...
Last week, markets were under a lot of pressure; over the weekend, the good old plunge protection team, with some new teammates, got back to work; we had Fischer’s comments, bunch of other doves also came out, we are concerned about rest of world, if economy slows, we might raise rates slower; lo and behold, we find stocks bouncing very nicely into the U.S. opening, Bloomberg’s Richard Breslow writes.
Stocks once again ahead of bonds...
Driven by AUDJPY
One of the problems is that policy makers are truly data dependent and are playing it by ear; in the “old” normal world, the market would start to price things as it thought appropriate; now markets are in “we can’t fight City Hall” mode, can’t fight sov wealth funds; the CBs are the most aggressive investors right now, for them to complain about markets, is somewhat disingenuous and depressing.
Source: Richard Breslow via Bloomberg
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"Free markets?" what are they again?
History
It all depends on those global financial war games at the FDIC offices in Washington, proceeding currently, with top treasury and central bank heads from the US and UK participating fully, hanging around after the IMF meeting.
I like he called Central Banks "investors" ........ ROFL
"When even Bloomberg jokes about the market's levitation..."
That is a very low opinion, sarcastic might even qualify as racial. I believe Bloomberg has some very good analysts that can see as well as ZH editors.
BBC had some self pompous journalist the other day Carrie smt ... pompously declaring she had been in China for 30 years and asking the question: "Can the chinese innovate?" .... how stupid, self important BSer one has to be to even think about it, let alone be able to put it on the air ... anyway it is just ignorance masked as trying to control the chinese ...
Executive Order 12631--Working Group on Financial Markets -
http://www.archives.gov/federal-register/codification/executive-order/12...
"I like he called Central Banks investors"...
Was a typo Stack, he meant infestors
Downvoted for attempting to play the race card.
All I want to know is 1) when do Central Banks sell & realize profits/losses, and 2) do they pay capital gains tax?
Sincerely,
E*Trade Baby
"aggressive investors" dont worry about meaningless things like P&L
.
When someone in the M$M gets it, it's time to start running...
Hmm, I'm having Deja Vu of the dot.com bubble bursting...
a bunch of people that talk about "free", promise you not to scam, and usually also try to tell you that regulation is utterly unnecessary, and go on talking about "the self-regulation of the markets", and stuff like that
and when appointed to regulatory roles, which is the same as giving the fox the keys to the henhouse, they start to mutter about "animal spirits", and invoke the Great Adam Smith, who of course is probably spinning in his grave at that, he who was a skeptic even of the limited liability company, and abhoring anything without liability (or agency)
in short, when someone talks about "free" something, usually what it really means is that... you are the product. so "free trade" and "free markets" are what you deserve for believing them
There Is No Thing Like A Free Lunch, A Free Market and Free Trade. There is only smart or stupid regulation, "free" being part of the long "stupid" list
note though that this goes against Tyler's narrative of the "central planners", at least in part. his view is that it's planners versus freedom. my view is that it's planners versus common (regulated) sense. the enemies are anyway the same, but I maintain that it's his view that get's them where they are now
So would you prefer more or less regulation?
Do you believe that any new regulations would have the common participant's best interest at heart?
Assuming a "yes" answer to the previous question, who would you trust to craft these new regulations for us plebs?
I don't know a single person (who pays attention that is) that takes any Fisher's comments seriously. His roll is to make it look like there are alternative views when in reality they are all on the same page.
Here's a joke.
An Israeli Citizen, who was the former Governor of the Bank of Israel, and an American Citizen, currently the Vice Chair of the U.S. Federal Reserve, walk into a bar.
The bartender looks up and asks, "[W]hat can I get for you, Mr. Fischer?"
Plunge Protection Team, Meet Ebola...... Now the rules of engagement are.......
Rules.....in a knife fight?
No ball kicking *OOF!* no eye gouging *AGH!* no biting *OOW!*
No sneezing,no coughing, no barfin, there goes hillary's chances of remaining safe.
Ooo, that's a great idea! :
Mr. Ebola patient, meet Mr. Secret Service agent. heh heh heh
Mr. Ebola patient2, meet young Miss Senate page/intern/eye-candy (do they still have those?).
Yeh, It's the virgins they've run out of.
No matter, a little tuck here....
Rule one: Bring a gun.
Rule two: Caliber must begin with a .4.
Rule three: Double taps.
I'd be a buyer of S&P around 200....sorry Central Banksters, no one else feels like playing your rigged game so I guess you can keep having fun being the primary buyer of stawks, whatever.
pumping the futures easy, pumping the market a little harder, call me at 10:30, they will need to get a good short rip going. People are getting their quarterly 401k statements, lets see how many of them park it.... that will determine what happens over the short term
Record high HELOC's right now because everyone's broke because real returns, not daily index prints, suck.
I wonder what's the level the dilution of the unfavorable data is on these index prints.
Get to work Mr. Chairman, er, uh... Mrs. Chairman ....
Yours Truly,
Chuck Schumer
The authorities are acting primarily to prop up governments as well as the economy by saving the financial system. It is important to remember these authorities are politicians and bureaucrats that want increased power and influence, and guess what, they may have hit the jackpot. Those in power have joined with the banks to create the "Financial-Political Complex" that promotes the current financial policy and supports banks that are "to big to fail".
These are the people who turn a market straight up at the blink of an eye. It should not bring comfort to the average man that these to unholy forces have joined together in such a union. More on this subject in the article below.
http://brucewilds.blogspot.com/2012/10/the-financial-political-complex.h...
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I don't think they are joking.
Yes, it's "somewhat disingenuous."
It's all relatively uncomplicated: The consequence of a relatively stable Fed balance sheet is $ strength, given how abysmal the rest of the globe looks. $ strength is disinflationary for the US and inflation is exactly what they desperately want to create. Given the size of the $ carry trade via the world's funding currencies, the only way the FED can engineer $ weakness is to allow the carry trade to unwind via risk asset weakness (principally equities). But the FED doesn't want a revaluation of risk assets either....at some point in the not too distant future the FED will decide that it's balance sheet needs to expand again as this will be deemed to be the only way to accomplish both of these objectives. This will in turn fcuk all those economies trying to export their own deflation...and we'll have another round of competitive devaluation.
The global economy can't reach escape velocity..period: There's a window here to be short stocks i guess...but it's a dangerous game to play as the FED can and will fcuk you at a moment's notice.....
Psst....hey buddy, we got futures levitated, ain't ya excited to buy some stawks?'
Gee no thanks, you Central Bankster ass hats can choke on it all yourselves!
When you know the people you entrust with your money are laughing at your own expense!
1987, what a year
GHW Bush walked down to the NYSE and pledged the help of the United States government to provide liquidity for the stock market. concurrently the Presidents Working Group on the Financial Markets was created under then potus Reagan. the market recovered most of its losses within a year, Bush ran for potus a year later, and won, however a recession, and the phrase no new taxes, along with a brokered election in 92, made him one of the few one term presidents in the modern age. his son was appointed president by scotus in 2000, despite a recession and unpopular war, and amidst accusations of voting machine fraud, he remained for two terms. the economy crashed at the end of his second term, and what we have now is a deer in the headlights running the country. the PPT is like a traffic cop in baghdad taking bribes after shock and awe. the scale of REPO and POMO and PPT has been greatly diminished by the sheer volume of QE. the scale of the blood lust and greed would probably make poppy blush. 1987, the last year of our innocence
yep, I remember the S&L debacle and the back door deal making with GHW as President. I thought it was the biggest scandal until 2008.
You know, I'm sure glad that no one over in the terror organization of Boko Haram or Al SHabab are not thinking of taking ten people, infecting them with ebola and then sending them into NY with instructions to stay alive on the streets as long as possible, riding subways.
That would be worse than 9-11.