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90 minutes... that is the life of a European Central Banker jawbone now...
US and Japanese Stocks give up gains...
as do peripheral bond spreads...
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Off Topic: The Supreme Court heard arguments yesterday on the Yates case. This case that will determine whether a Florida fisherman, alleged to have thrown undersized fish overboard, was properly convicted under a law passed to stop the crimes committed by the corrupt executives who brought down Enron.
In 2007, Captain John Yates was fishing off the coast of Florida when the National Marine Fisheries Service (NMFS), whose officers were deputized as federal agents by the National Oceanographic and Atmospheric Administration (NOAA), inspected his boat. Mr. Jones, an officer with the Florida Fish and Wildlife Conservation Commission and a federal deputy, measured the fish and placed the 72 he deemed too small in a crate. He issued a citation and instructed Mr. Yates to take the crate to port for seizure. Before the boat reached shore, Yates allegedly told his crew to throw some of the fish overboard, an act that typically results in a $500 fine or temporary license suspension. A second inspection in port found only 69 undersize fish and aroused suspicions, and a crew member eventually told law enforcement officials what had happened. For disobeying a federal agent and throwing the fish overboard, the U.S. Attorney criminally prosecuted Yates under the Sarbanes-Oxley Act (SOX), with its maximum prison sentence of 20 years. All for three undersized fish. The government wanted to make an example of Captain Yates. This case shows the mindset of federal prosecutors, obey us or else.
Yates spent 30 days in prison with three years of supervised release. Federal prosecutors had asked for a prison sentence of from 23 to 27 months but the judge ignored their recommendation. Yates suffered DNA collection and travel and financial restrictions, and has all but become a pariah in the fishing industry.
Nearly three years after the fact, federal prosecutors charged Yates under SOX—the sweeping legislation passed after Enron’s collapse to crack down on securities and accounting fraud. The federal government argued that throwing fish overboard was “shredding” of “tangible evidence.” “Shredding” is a severe crime under SOX. Now you know why Federal prosecutors have a success rate of over 98% in their prosecutions, nearly tying the Chinese Communist conviction rate. Enter a not guilty plea and you face years or decades in prison. Or, in political cases like that of Aaron Swartz, get bumped off.
They pull a knife, you pull a gun. He sends one of yours to the hospital, you send one of his to the morgue. *That's* the *Chicago* way!
No shorts left to take out. 90 minutes is also the expected lifespan of anyone who shorts this market.
Just give them a minute. That ugly red color won't last long.
It's OK, war just broke out again in Ukraine, stawks lovin it.
Tell me again what happened to the boy who cried wolf.
He was loved by all the villagers and lived happily ever after.
corner suite at goldman sachs?
WTI drilling straight down
about to hit $77
bounce?
or continue to head for reality?
I dunno. Ask me another!
yippee ... we're "saved"
a bounce ... for now
(cue cartoon-style music): The jawbone's connected to the hambone, the hambone's connected to the . . .
We're all about to find out the jawbone is connected to the Monstercock bone. . . which is about to be wedged (painfully) into our wealth.
Euporean Union is really NIRP'ed off.
German factory orders (sept)
expected ... +2.2%
actual ... +0.8%
prior ... -5.7%
prior was revised down so technically we can expect the revision of today's actual to come in at -8% ish
They should just change the name of the NY FED to "Falling Knives Catchers"...no investor with limited funds would ever pick up falling knives like these a$$holes, you would be wiped out in short order. But no, these turds buy it immediately when it's down 1 bps or 1000 bps - when you have unlimited buying power, you are corrupt, and no one is stopping you, there is no reason to stop.
King Dollar kicking azz ... again
DXY might try for 88 summit today
jawbone to the end
The Draghi Jawbone...
Sound like a gay porn series... if your into that sort of thing
no shorts left to propel mkt up; gop wins; boj moar qe; ecb more talk no action. risk on news cycle is over. weve got weeks until thanksgiving the costomary beginning to santa claus rally and before statements comeout again at the end of the month.....my watch says its time to slam markets around several percent to scalp some volume.
teamdouche on cnbs keep using words like 'propelling todays market', like its up or something. and the kingdouche shuts up the english twink regarding the legality of buying sovereign bonds. simon says ruling hasnt been issued yet, baldy says essentially 'its legal until someone is told its not' comparing covered bonds to sovreigns.
Come check out the newest exhibit at the "Museum of The Humanities"... Gaze in wonder at the Jawbonus Maximus. ( Mario Draghi standing on a soapbox)
I feel both huge flows of money and the ground shifting under our feet. In addition to manipulation by the government-financial complex other forces are converging to further distort and disconnect Wall Street from the American economy. Why American equities are rising is very important as we worked through a pre-election and post-election rally. We are experiencing a double down and let it ride mentality that has been ratcheted higher by media hype.
Most analysts agree that money from countries with weakening currencies is flowing out of the troubled areas and the U.S. is receiving most of the benefit. The Japanese as well as many Chinese and Europeans know with so much money floating around and few safe harbors America is becoming the most comfortable option for temporary investing their money. More on why this should be viewed as a sign of instability rather than a reason to celebrate in the article below.
http://brucewilds.blogspot.com/2014/11/why-american-equities-are-rising.html
That's so 1980s logic. Go with the times, please. The US is deeper in debt and the Dollar is about to get kicked by many sovereign nations which have been fucked one time too many.
Oups, that didn't work, please try again.
I like Victor Speranceo's take on this "I think the Fed is going to let the markets fall because the blame is going to go to the Republicans. This will be done by design in order to set up another win for the Democrats in 2016."
We've got TOTALLY manipulatd markets here used SOLELY for political purposes. When the R's propose something big the markets will fall big time and scare everyone.
Politicans are just talking heads. What's the difference if you replace a blue haired talking head by a red haired one? Whatever it is, I do not think it's worth manipulating markets or even crashing them.
Controlled collapse works in the building industry - and even there it fails sometimes. Buildings are static systems while society/economy is extremely dynamic.
90 minutes seems like a long time to believe anything Draghi says.
His jawbone is fantastic, but what about his gag reflex?
Handelsblatt is trash talking gold once again all the while the Euro loses more value.
Germans, you need to buy more stocks. Don't buy gold under any circumstances. Gold is losing value in US Dollar terms. You know, that allmighty US Dollar the world cannot do without.