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"We Can't Do This Forever," Fed Admits "Market Will Overwhelm Us"

Tyler Durden's picture




 

In a somewhat stunning admission of the truth in central planning (that the Swiss just experienced first hand - and perhaps Venezuela has been experiencing for years), The Philly Fed's Charles Plosser explains the following...

"It may work out just fine, but there’s a risk to that strategy, and the risk is that we wait until the point where markets force us to raise rates and then we have to react quickly and aggressively. I believe that if we wait too long, then we run the risk of falling very far behind the curve or disrupting the economy by rapid rate increases.

 

...

 

The history is that monetary policy is not ultimately a very effective tool at solving real economic structural problems. It can try for a while but the problem then is that it’s only temporarily effective, and when you can’t do it anymore you get the explosion yesterday in the Swiss market.

 

One of the things I’ve tried to argue is look, if we believe that monetary policy is doing what we say it’s doing and depressing real interest rates and goosing the economy and we’re in some sense distorting what might be the normal market outcomes at some point, we’re going to have to stop doing it. At some point the pressure is going to be too great. The market forces are going to overwhelm us. We’re not going to be able to hold the line anymore. And then you get that rapid snapback in premiums as the market realizes that central banks can’t do this forever. And that’s going to cause volatility and disruption.

 

...I think the jury is still out on the costs. Because the cost I was worried about was the longer-term cost of unraveling all of this. So maybe I was right, maybe I was wrong. That remains to be seen.

 

I do worry about the longer-term implications for the institution. Part of my criticism has been that we have pushed the boundaries into fiscal rather than monetary policy. That has brought us praise and opprobrium. Perhaps justifiably on both counts. I do wonder as I look down the road five or 10 years, how will that shape the institution? What happens to our independence? What happens to our ability to do things effectively? Given all that we’ve done — maybe it was all for the best, but even if it was — are there going to be longer-term ramifications that we may end up regretting later?"

*  *  *

So - what happens when the markets realize this?

 

Source: The Washington Post

 

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Fri, 01/30/2015 - 15:23 | 5726546 waterwitch
waterwitch's picture

We're f-ed

Fri, 01/30/2015 - 15:35 | 5726568 y3maxx
y3maxx's picture

Not gonna get "Venezuela'd" up here in Canada....I'm stocked up on toilet paper

Fri, 01/30/2015 - 15:36 | 5726622 max2205
max2205's picture

Chuck, fuck your institution 

Fri, 01/30/2015 - 15:41 | 5726648 ZerOhead
ZerOhead's picture

"I do worry about the longer-term implications for the institution."

Personally I worry about the implications of the institution being around for the longer-term.

Fri, 01/30/2015 - 15:50 | 5726667 nope-1004
nope-1004's picture

What does Plosser do, make, or contribute to humanity that will bring about a better life for me, my kids, and my neighborhood?

.

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Thought so.

Fri, 01/30/2015 - 15:54 | 5726688 Looney
Looney's picture

This fucking cunt is just trying to create an excuse for himself, “I was warning about the RISKS”, just like Mr. Yellen was “warning”.

Disgusting cunts! All of'em! ;-)

Looney

Fri, 01/30/2015 - 16:25 | 5726830 MillionDollarBonus_
MillionDollarBonus_'s picture

I also worry about the independence of our Federal Reserve, as monetary policy comes under increasing scrutiny. Our Federal Reserve was specifically set up to be independent. The creators of the Federal Reserve bank were wise, and new that politicians could not be trusted to separate their political motives from monetary policy. The separation of Federal Reserve and government has been one of the greatest decisions in this country’s history, and has led to some of the greatest economic growth and economic stability the world has ever seen. It worries me that voters and politicians increasingly believe that they should have a hand in monetary policy. Undermining the independence of the Federal Reserve could have dire consequences for the economy, and I hope that we are wise enough to see this before it is too late. 

Fri, 01/30/2015 - 16:30 | 5726853 SuperVinci
SuperVinci's picture

puuuhhhhlease.

 

The FED is the Treasury. The Treasury is the FED.

"but, but, laws, rules!?!"

That doesnt mean shit. When it counts, count on the FED being told exactly what and what not to do by Congress.

Fri, 01/30/2015 - 17:00 | 5726988 TheReplacement
TheReplacement's picture

When it counts, count on Congress being told exactly what and what not to do by the banks that own the FED.

Fri, 01/30/2015 - 17:44 | 5727192 negative rates
negative rates's picture

Hows about sooner rather than later.

Fri, 01/30/2015 - 17:52 | 5727221 TruthInSunshine
TruthInSunshine's picture

Fuck you Plosser, Fuck you Mr. Yellen, Fuck you Paul Krugman, and Fuck the horses you all rode in on.

Fri, 01/30/2015 - 20:31 | 5727598 asteroids
asteroids's picture

All that debt is a sleeping monster created by the FED and Obozo. Yes, one day that monster will awaken, it's inevitable.

Fri, 01/30/2015 - 23:15 | 5727951 eclectic syncretist
eclectic syncretist's picture

- PLOSSER SAYS FEDERAL RESERVE BANKSTER POLICIES WILL EVENTUALLY  

MAKE THE HOLOCAUST LOOK LIKE A DAY AT DISNEYLAND.

 

 

 

 

 

Fri, 01/30/2015 - 16:37 | 5726881 Syrin
Syrin's picture

I bet you've got shit load of ketones in your urine right now.   Little eslse can explain why you've gone full retard on us.

Fri, 01/30/2015 - 16:44 | 5726904 Cynicles
Cynicles's picture

How, high are you?

Fri, 01/30/2015 - 16:55 | 5726957 JRobby
JRobby's picture

Delusions, triggered by sources both known but also only imagined................

Fri, 01/30/2015 - 17:16 | 5727074 venturen
venturen's picture

independent like when Yellen had a powwow with the Democrats yesterday? Before Greenspan the FED didn't even talk to Congress. Your perfect reflection of the worst of the financial community is astounding.  

Fri, 01/30/2015 - 17:27 | 5727127 RaceToTheBottom
RaceToTheBottom's picture

"independence of our Federal Reserve,"

The FED is working as designed.  Only morons use the word independant with the word FED.

Fri, 01/30/2015 - 19:27 | 5727449 disabledvet
disabledvet's picture

I've often wondered that actually.

 

Take a poll of the Big Six....er, cough...Big Four Bankers now and ask them "how about those bailouts?"

 

Maybe the LAW against monetizing the debt was to protect....the Banker from himself?

 

Heck of an economy to lend into....especially if you're male and a Christian.

Fri, 01/30/2015 - 17:53 | 5727223 Clowns on Acid
Clowns on Acid's picture

MDB baby ! Slowly backing away from his previous 5 yers of posting.... just like Bill Clinton, sandy Weill, Robert Rubin... etc... 

Fri, 01/30/2015 - 18:01 | 5727248 stant
stant's picture

This is the third central bank of the USA. It will fail like the first 2. There won't be a 4 th.

Sat, 01/31/2015 - 09:16 | 5728494 BigJim
BigJim's picture

As long as the electorate is easily gulled, there will be central banks.

Does it seem to you the average voter is getting any wiser on this (or any) issue?

Thought not.

Fri, 01/30/2015 - 18:11 | 5727269 dexter_morgan
dexter_morgan's picture

LOL - good one. Is this Janet Yellen trying to tell us why auditing the Fed is a bad thing?

LOLOLOL

The creators of the FED were all fucking bankster scum criminals. Get the fuck outta here.

Fri, 01/30/2015 - 18:56 | 5727369 ZerOhead
ZerOhead's picture

Glad to see you back!

Fri, 01/30/2015 - 21:32 | 5727753 BKbroiler
BKbroiler's picture

it is.  watching people go ballistic on their keyboards after one of his posts is always fun.  +1 MDB

Fri, 01/30/2015 - 21:38 | 5727773 Blano
Blano's picture

That's been the other half of the fun.

One part being MDB posting more regularly, the other part watching peeps tee off on him who don't know his schtick yet.

Fri, 01/30/2015 - 19:51 | 5727505 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"Our Federal Reserve was specifically set up to be independent."

Correct, and to be independent means they are un-accountable in all meanings of the word!

Fri, 01/30/2015 - 21:36 | 5727767 Blano
Blano's picture

Dear MDB,

It's really nice seeing you here on a daily basis.  Please keep it up.

A green arrow for encouragement.

Sat, 01/31/2015 - 01:56 | 5727991 One World Mafia
One World Mafia's picture

If it's so wonderful they shouldn't mind a full audit, right? 

I didn't hear you say anything about the debt bomb all that 'stability' is built on.

Sat, 01/31/2015 - 06:49 | 5728405 King of the Juice
King of the Juice's picture

Love it, MDB! Keep it coming!

Fri, 01/30/2015 - 16:59 | 5726980 Bossman1967
Bossman1967's picture

Amen what will happen they will die a miserable death as they have made us suffer. Let them worry about thier futures as they have ruined ours

Fri, 01/30/2015 - 16:54 | 5726952 JRobby
JRobby's picture

Stating the obvious can be a living

Fri, 01/30/2015 - 15:51 | 5726673 El Vaquero
El Vaquero's picture

Personally, I'm worried about the possibility that some form of central banking could actually exist in the future. 

Fri, 01/30/2015 - 16:01 | 5726719 ZerOhead
ZerOhead's picture

As long as there are deadly weapons and people willing to use them against the population there will be central banking...

Fri, 01/30/2015 - 17:03 | 5726994 Chupacabra-322
Chupacabra-322's picture

Morpheus: The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.

Sat, 01/31/2015 - 07:03 | 5728413 Fukushima Fricassee
Fukushima Fricassee's picture

The Irony

Fri, 01/30/2015 - 17:07 | 5727015 Cynicles
Cynicles's picture

As long as there are sheeple there will be central banking. OK, NWO's arrival might be the exception.

Fri, 01/30/2015 - 17:47 | 5727207 new game
new game's picture

as long as people act like monkeys and lemmings it is hopeless. the majority are easily controlled.

shed the hope, ha...

find your own trail and don't look back.

Fri, 01/30/2015 - 16:00 | 5726715 Theosebes Goodfellow
Theosebes Goodfellow's picture

Paraphrased: "Snapback's a mudda'fucka', bitchez!"

My advice: "Shoot your jizz on the phyzz!"

 

 

Fri, 01/30/2015 - 17:04 | 5726993 Conax
Conax's picture

remind me not to buy any silver off you, bub.

Fri, 01/30/2015 - 21:31 | 5727746 Theosebes Goodfellow
Theosebes Goodfellow's picture

lol, you know, I hadn't really thought about it that way, but that is one way to keep others from wanting to "get their hands" on your "stack". And now that I have thought about it..., I'm sorry, poor choice of words. :)

Sat, 01/31/2015 - 00:17 | 5728124 Conax
Conax's picture

-I couldn't resist. Money is already dirty enough...

Silver should be pure and innocent, not a low class bukaki ho.

Fri, 01/30/2015 - 15:57 | 5726699 European American
European American's picture

"I'm stocked up on toilet paper"

Yeah, but to put TP to good use, one has to be eating something. In Venezuela they can grow year round. Whereas in Canada...

Fri, 01/30/2015 - 16:03 | 5726733 disabledvet
disabledvet's picture

DO NOT SHOOT! 

 

WE COME WITH TOILET PAPER, MOUTWASH AND AIR FRESHNER!

 

WE MEAN YOU NO HARM!

 

(like Fed Plan A worked so well Charlie.  What's the price difference between Pennsylvania Hub and Henry Hub again?  Bwhahahahahaha.  No funny money here!)

Fri, 01/30/2015 - 16:41 | 5726892 Farqued Up
Farqued Up's picture

Along with toilet paper, you must have beer, saltines, peanut butter and honey, the other staples of life.

Fri, 01/30/2015 - 16:47 | 5726916 McMolotov
McMolotov's picture

Good to know you don't need TP for your bunghole.

(Yep, third day in a row I've said it, but come on... toilet paper has been all over ZH this week. Maybe our collective unconscious is telling us to get ready to shit our pants at what's coming.)

Fri, 01/30/2015 - 17:05 | 5727000 yogibear
yogibear's picture

"Not gonna get "Venezuela'd" up here in Canada....I'm stocked up on toilet paper"

Dollar bills get real rough after while.


Fri, 01/30/2015 - 17:30 | 5727136 Dungholio
Dungholio's picture

You just need to soak them in urine for a bit, then let them dry off.

Fri, 01/30/2015 - 23:27 | 5727981 So It Goes
So It Goes's picture
OMG!
Fri, 01/30/2015 - 23:34 | 5728003 mvsjcl
mvsjcl's picture

Our funny money up here is plastic. Damn near worthless for that task.

Fri, 01/30/2015 - 23:47 | 5728031 The central planners
The central planners's picture

The fed has plenty of softy toilet paper too. They called it fed notes. We are being using them as "money"

Sat, 01/31/2015 - 00:49 | 5728186 Gothic Optimism
Gothic Optimism's picture

Well the Canuck buck is heading below .80us, so were gonna be 'flush' with more toilet paper.

Sat, 01/31/2015 - 12:39 | 5728823 mudduck
mudduck's picture

Bank of Canada being sued by one of Canadas top constitutional lawyers (Rocco Galati, almost all of his cases make the news), and there is a complete media blackout here (Canada). Case is Comer vs. Bank of Canada.

Fri, 01/30/2015 - 15:27 | 5726580 kaiserhoff
kaiserhoff's picture

Welcome to reality, now kick start those rates,

  while thou art still unhanged.

Fri, 01/30/2015 - 15:37 | 5726626 Dr. Richard Head
Dr. Richard Head's picture

I fickity fucking fuck fuck hate how they trot out the "independence" line.  Yellen giving Dems the heads up on rate raising should counter the independence booooo-sheeeeeet.

Fri, 01/30/2015 - 17:49 | 5727210 negative rates
negative rates's picture

I wouldn't mess with that if i were you boo boo.

Fri, 01/30/2015 - 23:14 | 5727957 capital_anarchist
capital_anarchist's picture

Econ professor I knew produced a study on central bank independence and found there was no difference between those that claimed to be and those that we're not. Tried to publish his findings and was shot down by all. Not mainstream enough to matter to anyone I guess.

Sat, 01/31/2015 - 01:25 | 5728239 glenlloyd
glenlloyd's picture

Yes, yes we are.

For anyone who is this intimately involved in Fed activities to now admit that their actions may have ramifications is jaw dropping.

Of course your actions have consequences, every action we take has a consequence, every action has an equal and opposite reaction, but we may not see that reaction or recognize it when it comes but it will come eventually.

For the Fed to pretend that it can distort markets without consequences is utter BS. We know when this mess unravels it will wreak havoc on everyone and for what? For the sake of a few self-important people who run big banks and say they do gods work.

This will end in disaster and the only thing we'll hear from the Fed was, 'oh well, we tried' and that will be it. Lives will be ruined because of their piss poor decisions. This could all have been avoided years ago but those people who think they're smarter than everyone else made the wrong decisions.

Fri, 01/30/2015 - 15:22 | 5726548 eddiebe
eddiebe's picture

Here's a clue: Doesn't matter what the 'markets' realize. They control the markets. Sheesh!

Fri, 01/30/2015 - 15:27 | 5726581 Carpenter1
Carpenter1's picture

What? CB's can't do this forever??  WTF!!

 

WHOCOUDANNODE?

 

 

Fri, 01/30/2015 - 15:58 | 5726701 capltd
capltd's picture

Ha! I was just about to make the same comment

Fri, 01/30/2015 - 19:37 | 5727482 disabledvet
disabledvet's picture

Seems like the market controls them right now.

 

"Selling the seats of the Pontiac Superdome.". Get 'em while they're hot folks!

 

I thinking the plumbing has been sold for scrap already.

 

 

You'd think even the State of Michigan could cough up 300 grand.

 

Well...such is life in the New Normal!

Fri, 01/30/2015 - 15:24 | 5726553 SickDollar
SickDollar's picture

"The history is that monetary policy is not ultimately a very effective tool at solving real economic structural problems"

 so why the fuck do we have the fed , ecb, Bis etc....

and why the fuck do you have high paying job that does not produce shit/any positive  in this economy or this world.


Fri, 01/30/2015 - 15:26 | 5726577 ATM
ATM's picture

Because those institutions were never meant to solve any of the stated structural problems. They were created for one reason and one reason only - to steal the wealth of the people and deliver it to the bureaucrats.

Fri, 01/30/2015 - 15:35 | 5726608 lordylord
lordylord's picture

I've been saying this for a while.  The Fed is not clueless, incompetant or ignorant and they are not starry-eyed idealist Keynesians.  They are the robber barrons.

Fri, 01/30/2015 - 15:46 | 5726628 ZerOhead
ZerOhead's picture

They must be getting frightened or they wouldn't being hedging their future earnings potential working for Wall Street with such truthy statements.

Fri, 01/30/2015 - 18:16 | 5727282 dexter_morgan
dexter_morgan's picture

Well, to deliver it to the top .01% via the bureacrats at least.

Fri, 01/30/2015 - 21:54 | 5727794 Gman1961
Gman1961's picture

Absolutely correct ATM, they were created for the same purpose as their European predecessor's and have been in cahoots with them since.

This is not about fiscal or monetary policy but about theft.

I took the red pill about seven years ago and have been stacking ever since. Last call, everybody in the life rafts.

Fri, 01/30/2015 - 15:24 | 5726555 Creepy A. Cracker
Creepy A. Cracker's picture

Who says that the central banks can't print forever?  They've been doing it since the beginning of time, diluting silver and gold in the olden days.

Fri, 01/30/2015 - 15:27 | 5726573 angel_of_joy
angel_of_joy's picture

You cannot print forever without a reset from time to time. That reset is usually a very interesting moment...

Fri, 01/30/2015 - 15:34 | 5726609 ZerOhead
ZerOhead's picture

Interesting = Horrific

Fri, 01/30/2015 - 15:51 | 5726677 El Vaquero
El Vaquero's picture

May you live in interesting times wasn't meant as a complement.  IMO, we live in interesting times. 

Fri, 01/30/2015 - 15:30 | 5726587 Carpenter1
Carpenter1's picture

YEs, and with disastrous results. Might wanna check your history book for some reference.

 

Fucking unbelievable how stupid people have become.

Fri, 01/30/2015 - 15:49 | 5726665 ZerOhead
ZerOhead's picture

stupid people = 8 figure bonus people

Fri, 01/30/2015 - 17:10 | 5727030 Carpenter1
Carpenter1's picture

The 8 figure bonus people know the score, they know this isn't real, it's the 5 figure bonus people who believe in this shit.

Fri, 01/30/2015 - 17:54 | 5727228 weburke
weburke's picture

yes but look where they live....... !   So many live as if their neighbors cant walk. The neighbors they ignore. But they are so close ! 

Fri, 01/30/2015 - 17:57 | 5727226 Creepy A. Cracker
Creepy A. Cracker's picture

"YEs, and with disastrous results. Might wanna check your history book for some reference.

Fucking unbelievable how stupid people have become."

Very true.  Especially your last sentence. 

I just had some moron agree with my generic, correct, statement about central banks printing forever then babble on about history books and complain about how "Fucking unbelievable how stupid people have become."

Oh...

Fri, 01/30/2015 - 15:40 | 5726630 ATM
ATM's picture

A specific CB cannot print forever. They all have a life expectancy and die when they kill their currency. To this point new ones have popped up, but perhaps humans will have learned after the a reserve currency implodes for the first time and wrecks the worlds economy and disrupts civilized society?

I would expect that CBs that we see today are going to be the last ones for a millenium (or longer). 

Fri, 01/30/2015 - 15:25 | 5726558 SethDealer
SethDealer's picture

propping up losers should be the title of this article

Fri, 01/30/2015 - 15:25 | 5726561 angel_of_joy
angel_of_joy's picture

So they know that what they're doing is bad... and still doing it ! Isn't that the standard definition of a phychopath ?

Fri, 01/30/2015 - 15:56 | 5726685 ZerOhead
ZerOhead's picture

No no... they know it's bad but it's still very profitable personally... therefore it's merely sociopathic behaviour.

It becomes psychopathic when they realize there won't even be an economy to spend any of that money in yet they still do it anyway...

Fri, 01/30/2015 - 16:06 | 5726739 SDShack
SDShack's picture

Exactly correct. I have been saying for years it's Sociopaths that run the world. To a sociopath, all that matters is WINNING at all costs in their twisted mind. A psycopath doesn't care about winning, only acting out.

Fri, 01/30/2015 - 19:11 | 5727404 Creepy A. Cracker
Creepy A. Cracker's picture

Add in:

Megalomaniac and Narcissist


 

Fri, 01/30/2015 - 15:27 | 5726562 Dr. Engali
Dr. Engali's picture

Whatever, the Japanese bawnd market hasn't  been forcing the central bank's hands for the last 25 years.

Fri, 01/30/2015 - 15:28 | 5726583 kaiserhoff
kaiserhoff's picture

Good point Doc,

  but it hasn't looked good on them.

Fri, 01/30/2015 - 15:33 | 5726607 Dr. Engali
Dr. Engali's picture

"Markets"don't care as long as the spice continues to flow.

Fri, 01/30/2015 - 16:24 | 5726828 Eyeroller
Eyeroller's picture

The worm is the spice.  The spice is the worm.

Fri, 01/30/2015 - 15:53 | 5726686 WillyGroper
WillyGroper's picture

Maybe closer to 30 with the downing of JAL 123 in 1985.

Fri, 01/30/2015 - 15:25 | 5726565 yrad
yrad's picture

"What happens to our independence?"

 

Anyone? Anyone?

Fri, 01/30/2015 - 15:49 | 5726672 ZerOhead
ZerOhead's picture

Indie-what?

Fri, 01/30/2015 - 16:03 | 5726726 Bioscale
Bioscale's picture

I still can't believe he was serious saying that bullshit. Full retard and complete denial of reality.

Fri, 01/30/2015 - 16:40 | 5726889 ZerOhead
ZerOhead's picture

It's part of the job qualifications...

Fri, 01/30/2015 - 16:39 | 5726891 Eyeroller
Eyeroller's picture

He wants to be 'on record' that he 'warned' us about what was coming...

Fri, 01/30/2015 - 16:54 | 5726953 ZerOhead
ZerOhead's picture

BIS has done the same thing yet the BIS is composed of the worlds central bankers.

Go figure...

Fri, 01/30/2015 - 15:55 | 5726696 WillyGroper
WillyGroper's picture

What's your FEMA region?

Will that be casket or urn?

Fri, 01/30/2015 - 16:12 | 5726768 IndyPat
IndyPat's picture

I believe ashes is the current model.

We will make good soap.

Fri, 01/30/2015 - 16:17 | 5726792 B2u
B2u's picture

Independence?  Who needs independence when we have free health care?

Fri, 01/30/2015 - 15:25 | 5726567 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I still maintain Yellen could break down and scream, "Its all a Ponzi - Zerohedge and the gold bugs rape us in our dreams!!!" then pull out a pistol and blow her brains out and gold, bond yields, stocks would move 1% or so before settling to even on the day.  

 

Markets simply don't exist anymore

Fri, 01/30/2015 - 15:32 | 5726597 Seasmoke
Seasmoke's picture

That is one day I wouldn't complain about the manipulation of Gold price. 

Fri, 01/30/2015 - 15:26 | 5726569 maskone909
maskone909's picture

now they they are bidding up bond yields

painting the tape

Fri, 01/30/2015 - 15:26 | 5726574 surf0766
surf0766's picture

and it's almost green. took them all day .. are the slipping?

Fri, 01/30/2015 - 15:29 | 5726578 Rainman
Rainman's picture

uh oh ... Plosser must have been reading up on the Weimar Republic .

Fri, 01/30/2015 - 15:32 | 5726596 Next to Arch Stanton
Next to Arch Stanton's picture

"so maybe I was right, maybe I was wrong..."

Seems incredibly cavalier to me - not hard to imagine a bunch of these ass clowns expressing their concerns to each other in this manner as they fuck over the masses.  Plosser and others appear to be positioning themselves for the inevitable crash that is somewhere in the future.  Must be getting a lot closer.  Fed is losing control in public domain and cannot even pretend their ZIRP and printing is having any effect other than blowing bubbles.  

I feel an urgency to stack PMs like crazy

Fri, 01/30/2015 - 15:48 | 5726661 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

" not hard to imagine a bunch of these ass clowns expressing their concerns to each other in this manner as they fuck over the masses. "

 

I remember the recent "Stunning proof that JPM controls the Fed from an insider" which decidely did not "rock" the financial world.

 

But in explaining what she had seen, the woman painted it as a room full of chubby government slackers who more than anything don't want to rock the boat and seemed genuinely unaware of what they were a part of. 

 

I think that American Dad show really nails the "high clearance" government employee experience.  A bunch of pasty suburbanites joking at the water cooler about surviving a weekend BBQ before going back to their offices to drone a wedding on the other side of the world.

 

The human races ability to destroy without being conciously evil is rather astounding.

Fri, 01/30/2015 - 17:51 | 5727216 Ass Burger
Ass Burger's picture

Human, All Too Human

Fri, 01/30/2015 - 15:33 | 5726604 Inthemix96
Inthemix96's picture

Hello Mr Charles Plosser,

Could you explain to Mr Inthemix96 and his friends and associates, just why when the magic money spigot is turned off you wont be 'Able' to make money off the backs of us plebs?

Could you post it in real plain English terms so we wont hang you for the cunt you are?

Thanks in advance you cunt.

;-)

Fri, 01/30/2015 - 16:09 | 5726748 oddjob
oddjob's picture

Plosser: "The money spigot was intended only to make me and my freinds whole again, I dont give a fuck whether your family starves or not."

Fri, 01/30/2015 - 15:34 | 5726605 Jack of All Trades
Jack of All Trades's picture

Geezus - isn't it a little late for him to be worrying these things now. . .

Fri, 01/30/2015 - 15:57 | 5726702 WillyGroper
WillyGroper's picture

He never saw it coming.

Sat, 01/31/2015 - 08:34 | 5728457 Charming Anarchist
Charming Anarchist's picture

His male-servant asked for a raise. 

Sat, 01/31/2015 - 08:54 | 5728472 Berspankme
Berspankme's picture

No one could have seen it coming, that's always the incompetent cocksuckers response when in fact everyone could've seen it coming

Fri, 01/30/2015 - 15:40 | 5726629 maneco
maneco's picture

Someone needs to tell J-C Juncker and Alan Blinder to give Mr Plosser a call and explain to him that Central Bankers are not supposed to tell the truth.

Fri, 01/30/2015 - 15:41 | 5726634 DrData02
DrData02's picture

Well maybe it will be jail time for those bastards.

Fri, 01/30/2015 - 19:59 | 5727527 Milestones
Milestones's picture

I'm afraid iit won't be lawyers standing around them with ropes.             Milestones

Fri, 01/30/2015 - 15:41 | 5726635 Hazlitt
Hazlitt's picture

I can see it now: the cover of Time with a picture of Ludwig von Mises titled "We Are All Austrians Now".

Sat, 01/31/2015 - 08:05 | 5728449 Charming Anarchist
Charming Anarchist's picture

That will be the day they have to changed the magazine name to "Timed" or "Time Is Up" perhaps. 

Fri, 01/30/2015 - 15:41 | 5726642 Bell's 2 hearted
Bell's 2 hearted's picture

@ Plosser

 

pro tip

 

have your obit up to date

Fri, 01/30/2015 - 15:55 | 5726694 dexter_morgan
dexter_morgan's picture

avoid nail guns at all cost

Fri, 01/30/2015 - 15:42 | 5726647 buzzsaw99
buzzsaw99's picture

behind what curve? they keep saying that but i don't think they even know what they are saying. commodity prices are DROPPING. wages are STAGNANT. sure, there are fraud and financial bubbles out there but the fed likes those. so again, behind what curve?

Fri, 01/30/2015 - 23:38 | 5728010 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

He's talking about Dead Man's Curve, buzzsaw99, that's the only curve left in the race to the bottom, don't ya' know.

 

p.s. pay close attention to strange Fat Ladies that start singing, eh.

Fri, 01/30/2015 - 15:47 | 5726659 Romney Wordsworth
Romney Wordsworth's picture

 Translation:

 

- DOW drops

- Goldman & other pre-chosen IB's & hedge funds get inside info

- Said Goldman & prechosen IB's & hedgefunds frontrun 'inside info'

- Grandma Matzo Ball [unannounced] mouthpieces some dovish BS

- Dow rises

- Goldman & other pre-chosen IB's & hedge funds quickly cash out their paper pennies in front of the steamroller profits & leverage short

- They shove some douchebag like this in front of a microphone

- DOW tanks [allowing Goldman & other pre-chosen IB's & hedge funds to quickly cash out their paper penny shorts]

- Keep playing the same game until Hitlery becomes RMIC [Rug Muncher in Chief]

- Turn up the volume afterwards.

- Renew the dual passports

- Fuck the goy

 

RINSE REPEAT

Fri, 01/30/2015 - 15:51 | 5726674 European American
European American's picture

Now that would be the signal for either putting the final touches on ones "retreat" bugalow, or moving into it (or sailing in one's boat to a distant land/sea).

Fri, 01/30/2015 - 15:53 | 5726678 drivenZ
drivenZ's picture

everyone already knows this. But you ride the train until it stops and the first ones off are the winners. Most everyone else loses. 

Fri, 01/30/2015 - 15:54 | 5726689 dexter_morgan
dexter_morgan's picture

pretty much the definition of a ponzi scheme right there

Fri, 01/30/2015 - 15:59 | 5726695 numapepi
numapepi's picture

What happens is they will blame the markets and "Trickle Down." Reality need not rear it's ugly head at all. The new class progressives have effectively outlawed it.

 

S&P 500 downgrade of the US debt for instance.

 

Then they will claim what is needed is to give more power to those who caused the problem in the first place. It is a tried and true means of prying our wealth, soverignty and humanity from us.

Sat, 01/31/2015 - 08:41 | 5728463 Charming Anarchist
Charming Anarchist's picture

It is easier to fake a natural disaster. 

Most sheeple have been inculcated by enough Hollywood flicks to know that The Almighty Government will usher them to safety. 

The slave FEMA camps will be filled consensually. 

Fri, 01/30/2015 - 16:00 | 5726708 Heavy
Heavy's picture

Bam, we're all socialists now.  Should have known that's what subsidizing the largest corporations would lead to.  Death or taxes upon the thieves of legislation!

Fri, 01/30/2015 - 16:01 | 5726720 numapepi
numapepi's picture

Old joe Schumpeter said as much in Capitalism, Socialism and Democracy.

"Will Capitalism survive? I think not..."

Fri, 01/30/2015 - 16:06 | 5726745 Bioscale
Bioscale's picture

Rather wrong question.

Fri, 01/30/2015 - 16:01 | 5726710 Catullus
Catullus's picture

None of this matters until someone defaults.

Fri, 01/30/2015 - 16:09 | 5726752 katchum
katchum's picture

What happens when the 10 year yield becomes the fed funds rate, which is zero?

Fri, 01/30/2015 - 16:10 | 5726765 Pumpkin
Pumpkin's picture

How does someone get one of these jobs, making millions, to only state the very obvious only very late?

 

Sell your soul?

Fri, 01/30/2015 - 16:18 | 5726798 IndyPat
IndyPat's picture

No soul required.

You are born into these "jobs".

Mazel tov.

Fri, 01/30/2015 - 16:14 | 5726780 NEOSERF
NEOSERF's picture

My guess is we are about 10 miles down the road too far to think about "stop doing it"...there was no and is no turning back now...rates won't go up meaningfully anywhere ever again unless investors pave the way.

Fri, 01/30/2015 - 16:15 | 5726790 rlouis
rlouis's picture

For 9 years I've wondered if they were just stupid or evil. 

How many industries/markets do they need to wreck before they begin to recognize distortion?

Fri, 01/30/2015 - 16:24 | 5726834 kchrisc
kchrisc's picture

"So - what happens when the markets realize this?"

Isn't the Fed THE markets?! I think that they already know.

The banksters need to repay us.

Fri, 01/30/2015 - 16:26 | 5726841 farmboy
farmboy's picture

It is a good Plossebility CB lose control

Fri, 01/30/2015 - 16:44 | 5726905 bunnyswanson
bunnyswanson's picture

That is their goal.

One government.

One currency.

Elimination of the middle class

The slave class replaces the middle class.

It's been written in the Protocols.

This is no mistake. 

At the end of day, the only question will be - What's for dinner?  That is the day when the bankers et al realize regret for introducing the masses to the World Wide Web (of deceit)

Fri, 01/30/2015 - 16:33 | 5726863 Elliptico
Elliptico's picture

Worry about it "at the end of the day."

Fri, 01/30/2015 - 16:34 | 5726866 Thenardier
Thenardier's picture

Plosser needs to be worried that his comments may be used against him one day in criminal court

Fri, 01/30/2015 - 16:36 | 5726874 monad
monad's picture

Look no further than the WTO

Fri, 01/30/2015 - 16:42 | 5726896 freakscene
freakscene's picture

Rand Paul re-introduced the Audit the Fed bill

The Kabuki dance must go on!

Fri, 01/30/2015 - 16:48 | 5726930 Son of Captain Nemo
Son of Captain Nemo's picture

Rand Paul re-introduced the Audit the Fed bill

The Kabuki dance must go on!

I'm still trying to figure out how Ron with all his wisdom could have ever had a son like him that could be such a sellout!

Fri, 01/30/2015 - 16:44 | 5726903 noob
noob's picture

"Fuck you and the horse you rode in on"

and like "screw you and your whole family too,"!

Fri, 01/30/2015 - 17:02 | 5726907 SmedleyButlersGhost
SmedleyButlersGhost's picture

For this co-conspirator to say this is nauseating. What a pompous self important arrogant twat He can  start by returning his ill gotten gain and ratting out his fellow self serving criminals. 

 

P.S.   For The down vote - either have the stones to put forth a position or kiss off 

Fri, 01/30/2015 - 16:43 | 5726909 Son of Captain Nemo
Son of Captain Nemo's picture
“We have to recognize that the era when central bank improvisation can be the world’s growth strategy is coming to an end.” ~ Larry Summers – Davos 2015
Don't look now but I think Larry is trying to tell us that a singular event of some kind is on the horizon to wreck the "party".   When the guy who was the architect for the demolition of Glass Steagall announces his departure from the "poker table".... Get Ready!
Fri, 01/30/2015 - 17:00 | 5726987 freakscene
freakscene's picture

pop some corn, its going to get interesting........

Sat, 01/31/2015 - 04:02 | 5728341 bunnyswanson
bunnyswanson's picture

Must Watch Chris Hedges - One Nation Under Survellance 1/2 hour

https://www.youtube.com/watch?v=FQk2GguNI90

Also:

http://www.economist.com/news/united-states/21641255-why-more-americans-...

Suicide in America "Over 40,000 Americans took their own lives in 2012—more than died in car crashes—says the American Association of Suicidology. Mondays in May see the most incidents."  (Unsuccessful suicides also up)

Fri, 01/30/2015 - 16:46 | 5726915 SheepDog-One
SheepDog-One's picture

Go fuck ya self Plonker, or whatever your name is. I hope someone pushes you in front of a speeding garbage truck. Fitting end to vermin such as yourself.

Fri, 01/30/2015 - 16:47 | 5726923 bnbdnb
bnbdnb's picture

Just think about this. Can barely get 3% growth with 30 year interest rates BELOW THAT. There is no way out of that.

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