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Market Jumps On Today's Central Bank Verbal Plunge Protection, Courtesy Of Mario Draghi
One has to laugh: if stocks are selling off, then trot out the daily central banker headline urging to BTFD.
Sure enough, just as the market was about to roll over moments after today's abysmal housing data revisions were released, what happens? The usual central banker "verbal plunge protection", this time courtesy of ECB's Mario Draghi and the following Bloomberg headlines:
- DRAGHI CALLS FOR STIMULUS: CNBC
- DRAGHI SAYS JOINT EFFORT NEEDED TO AVOID RECESSION: CNBC
- DRAGHI SAYS INFLATION TO REMAIN LOW IN THE NEAR TERM
Next: algos headline scan "Draghi" and "Stimulus" and the rest is levitation history.
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"Jumped" 3 points? Really?
pods
EURUSD is even more volatile
Enough of this shit already......??
Stimulus. The art of shoving a vibrator into a mannequin hoping that she will come to life.
Nothing is gonna stop us now.
https://www.youtube.com/watch?v=3wxyN3z9PL4
Fuckin Draghi...he told all his 0.1% friends (and GS of course - who went levered long the stocks market to the gills) about this early last week and NOW he tells the rest of the 99.9% about it??
Mother fucker
"Wolf! Wolf!! WOLF!!!!"
DavidC
Sounds like the ex wife.
More amphetamines for the speed freaks.
Seems like markets and bankers are both jumping today.
Exactly, let's see more bankers "jumping".
More jawboning from desparate criminal motherfuckers.
QE/ZIRP is doing exactly what your owners what it to do.
printing receipts for real goods and services is NOT the same as actually creating real goods and services.
Weinmar on a global scale.
The issue is timing, be optimistic as there will be lots on opportunites for innovative folks who command dependable tribes with access to real resources.
Same as it ever was...
the London close in Silver....
http://www.kitco.com/charts/livesilver.html
hey, it was a hook shot from midcourt ...
draghi the vampire needs a wooden stake
Below is Sam Zell's prediction on the U.S. economy, from a CNBC interview in 2008. Everything Zell predicted was completely wrong. At the same time Zell unloaded his office building real estate holdings, he said here the real estate market had hit its nadir. Lying is second nature to people like Zell and CDC's Tom Frieden, egomaniacs.
---
Zell Sees Start of Housing Recovery in the Spring
By CNBC.com | 26 Feb 2008 | 09:43 AM ET
The US economy will avoid recession as the housing market begins to recover this spring, according to billionaire investor Sam Zell.
Speaking on "Squawk Box" this morning, Zell attributed much of the current economic troubles to fear-mongering and politicking by Democratic presidential contenders Hillary Rodham Clinton and Barack Obama.
"Obviously what we have going on is an attempt to create a self-fulfilling prophecy," said Zell, chairman of Equity Investments Group and owner of the Chicago Cubs, Chicago Tribune, Los Angeles Times and other companies. "We have two Democratic candidates who are vying with each other to describe the economic situation worse.
"The reality is that if you live on Wall Street and you're in the credit markets the world couldn't be worse. If you're a farmer and you're getting $25 for your wheat, you're having a great time. If you're a CEO and you've got a balance sheet that's bullet-proof, you're in a great position. This whole thing is way out of control, way out of hand."
Zell said that although he doesn't try to pick bottoms in markets he believes housing has hit its nadir and will turn around this spring as inventory clears out.
As for the credit situation, he projected that once markdowns are out of the way banks will begin to regain their footing.
In the wide-ranging interview, Zell also voiced support for Federal Reserve Chairman Ben Bernanke.
"I think he should be renewed when his term is up. I think one of the positives of the United States is having people in the position of the Federal Reserve (chairman) for long periods of time," Zell said.
"I think Bernanke's reduction in interest rates has been spot-on, because basically we're going to fix the credit markets by creating a big enough spread between the risk-free cost of capital and what's available so that greed overtakes fear and the game begins again."
I wonder what germany thinks of your stimulus, mario. maybe they won't go along, huh? or did basel put the squeeze on them?
germany, time to dump the nato losers and join the brics. this fence sitting will only get you splinters in the ass.
Moar stimulus will certainly fix this thing. Good call, Mario.
well, its helps germany and italy sell their luxury/sports cars to the millionaires/billionaires.
DRAGHI CALLS FOR STIMULUS: CNBC
Christine- You're up...
Christine?, I was thinking more along the lines of Angela Merkel.
Bingo.
"Ich spiele aber nicht mit. Lasst mich in Ruhe!"
Joint effort. He must mean the FED and ECB, spraying their sperm all at the same time. Funny you have Draghi now dictating FED policy. Interesting.
Let's see it Count Dragh-ula vampire squid. I'm fucking tired as hell of your jawboning.
Free beer tomoorrow!
For fucks sakes......SO burned out on this shitshow.
Focus on the sailors, fighting on the dance floor. Oh, man! Look at those cavemen go!
+1 RE Bowie ref
What a fucking clown!
I must admit, mario seems like such a nice guy, I almost feel sorry for him.
almost, but not quite.
"Sure enough, just as the market was about to roll over moments after today's abysmal housing data revisions were released, what happens? The usual central banker "verbal plunge protection","
why the oncoming recession (Q12015 latest start) will be bad
markets going down - in old days - forced legislative bodies to Do Something to try and prevent.
Keeping markets high ensures nothing will be done ... and we'll stroll right into the teeth of one
It's very well to try and call FOR something.
Doing so when you know DAMN well your target audience (liebe Mutti) ain't listening is well....um.....cute.
Someone break this man's jawbone.
hey Mario, I want to see your name on that jumper list
Draghi's days of jawboning are coming to a close
soon Mr Market will want action not words
and woe to the central banker hoo unleashes anything less than "all in"
germany on board?
heh heh
sadly I think the "action" you describe will see the same fate as "price discovery".
in fact, i think they might be the same thing.
this is just so fucking comical at this point.
although we all know the only reason the ''markets'' have been up since the 2009 bottom is 100 percent the fed, they still try to make it seem like earnings drive this garbage.
so lets see.
ibm, ko, mcd, all 3 major global companies miss, yet the '' markets'' on those days still finish fucking green.
yesterday, when the fucking dow and s&p were up significantly, they tried to make it seem like it was justified because of ''great'' earnings from 3M AND CAT, yet when those companies had missed badly in the past, which we have seen plenty, the ''markets'' would still be fucking up.
then today, the day after amazon fucking reports a 435 million dollar loss, and is down 8 percent ( it should fucking be down 25 percent at least, as they miss all the time, but whatever) the fucking nasdaq, which has no resemblance of reality, is in the green, and while not by much, the fact that the nasdaq isnt tanking after a terrible report by one of the bigger companies in the nasdaq, it just fucking shows what a fucking farce this is.
O not to mention how futures last night were down 13 s&p handles at a point, and u would think ''investors'' may want to take profits, but no, why would they, they like to buy every fucking dip, even if it is as little as 0.10 percent.
FOMC meets next week
nobody bailing till then
Joint effort.
http://data1.whicdn.com/images/96201949/thumb.jpg
MOAR stimulus? How can we be close to a recession after six years of stimulus if stimulus actually works?
Because QE isn't really stimulus?
Just hours earlier, De Margerie had met Russian Prime Minister Dmitry Medvedev at his country residence outside Moscow to discuss foreign investment in Russia. In his speech hours before the plane crash that took his life, de Margerie said U.S. and European Union sanctions on the country were “unfair and unproductive,” and that he opposed efforts to render it “isolated from the major global economic and political process.
De Margerie was a keynote speaker last spring at Putin’s annual economic summit in St. Petersburg—an event that many Western executives decided to skip—where he signed a deal with Russian oil group Lukoil (LUKOY) to develop shale oil in Western Siberia. De Margerie also pressed ahead with major Russian investment, including the $27 billion Yamal natural gas venture in the Arctic led by Russian gas group Novatek (NVTK:LI), even as sanctions against Novatek and one of its owners, Gennady Timchenko, have complicated financing.
De Margerie told Bloomberg News recently that he was “doing everything” to move the Yamal project forward, in keeping with his belief that politics and business should be kept separate. Total, the world’s No. 4 non-state-owned energy group, has said that Russia could become its largest supplier of oil and gas by the end of this decade, up from its fourth-biggest supplier in 2013.
De Margerie’s death removes from the scene a businessman who rarely shied away from geopolitical debates and became one of Russia’s most outspoken allies in its efforts to avoid economic quarantine, willing to say what others only dared think. Although European corporate giants from Siemens AG to Renault SA (RNO) have built close relationships with Russia, most business leaders have preferred to keep their lobbying private to avoid offending governments committed to punishing Putin.
PetroDollar War – French Energy Giant Total CEO AssassinatedWouldn't have anything to do with European banks being insolvent, would it Mario?
Harvey Organ...?
another ramp in the Fraud markets in the last hour of trading in London...
who could have known?
Britain does not want to pay it's membership fees: http://www.telegraph.co.uk/news/worldnews/europe/eu/11184760/David-Camer...
25 banks failing a stress test means they get moar money and now this. awesome.
Notice Draghi seldom hurts HIS currency but is more than willing to let Ben-Janet screw up theirs?
and that piece of shite Paschi was up 10% today
Dow was just up 200 points from the overnight low LOL
https://www.youtube.com/watch?v=SwYN7mTi6HM
(that song really was about suicide)
One day there will be a "correction" but not today and probably not tomorrow. And it wont really bea correction literally as that would require equities go to intrinsic value - i.e. $0
Draghi says "I want stimulus! I want that giant French Buttplug!!!"
http://m.huffpost.com/us/entry/6003192
CNBS had to trot out SIEGAL ARSEWHOLE again = Head Parade Pumper
Somebody needs to put a gag order on these people. I'm so sick of this crap.
The euro-zone is in a far bigger mess than recent headlines and figures suggest. Most of the growth in the Euro-zone over recent years has been in Germany and that bright spot is now under pressure. Italy has been in recession for two years; France’s economy has been stagnant for months.
Now that Germany is in trouble, many economist think the chances of a Japan-style deflationary spiral have risen sharply. What it all boils down to is Germany can’t keep buying Greek bonds and other bad debt with German taxpayer money until the end of time. The article below looks at the corner Central banks have painted economies into by attempting to paper over reality and how these polices will hinders growth for as long as the eye can see.
http://brucewilds.blogspot.com/2014/10/global-economic-malaise-due-to-debt.html