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Yellen, We Have A Problem

Tyler Durden's picture




 

Just three things to consider: "The Fed doesn't matter?" - so just ignore the correlation between Federal Reserve balance sheet expansion (flow) and S&P 500 performance tumbling lower. "Earnings don't matter?" - because for now, stocks are entirely ignoring the three-month plunge in consensus EPS expectations. "Macro fundamentals don't matter?" - because if they did, US equity prices would be collapsing. Trade accordingly...

 

It's the flow, stupid...

 

It's the earnings, stupid...

 

It's the economy, stupid...

 

Charts: @Not_Jim_Cramer and Bloomberg

 

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Mon, 02/09/2015 - 16:51 | 5763531 venturen
venturen's picture

Yellen is hoping that the FED can win the next 100 consecutive power balls to keep the ship afloat! 

Mon, 02/09/2015 - 17:13 | 5763595 SickDollar
SickDollar's picture

fuck you Yellen

 today I realized after paying my taxes  that if you dont have a mortgage loan or a 401k (basically of you dont take on debt), uncle sam will  kill you in taxes to force you to go in debt (Panzi Scheme)

its good to be poor or rich in Merika but not a middle class person! maybe it is time for m e to pull myself out of the work force

 

 

 

Mon, 02/09/2015 - 17:14 | 5763625 buzzy_the_pirate_dog
buzzy_the_pirate_dog's picture

Now, now, now then.  Calm down.  Think of it as being rewarded for being in debt.  Come on, just do it.  You'll get a tax refund...see isn't that better?

Mon, 02/09/2015 - 19:21 | 5764034 FreeMoney
FreeMoney's picture

Think of it as being rewarded for being in a debt slave.  There fixed it for ya.

Mon, 02/09/2015 - 17:17 | 5763636 overmedicatedun...
overmedicatedundersexed's picture

for those paying taxes on line it seems data has been hacked and well refunds have been sent to others than the tax filers ..IRS says due to lack of funding it could takes months to correct the stolen accounts..have a nice day.

Mon, 02/09/2015 - 17:40 | 5763717 negative rates
negative rates's picture

They forgot to tell you that they were ones responsible for breach in the first place, they needed the money.

Mon, 02/09/2015 - 17:18 | 5763638 Cheduba
Cheduba's picture

You gave me chills.  Amazing how every single f*cking choice we have to make leaves us worse off.  

We could eat wholesome food, but have to pay through the ass for it. They scrap all the used cars with Cash for Clunkers so we have to take a hit either on way overly expensive cars with features you don't need or pay an exorbitant amount for one of the few POS used cars that remain.

We are constantly herded through our cattle gates to be harvested.  Similar to what you said, my credit report tells me how I can raise my credit score and it's trying to tell me that if I take on hundreds of thousands in debt to buy a house, it shows I am responsible so then my score goes up. Fat chance of me doing that.

This is one sick system that leaves you with very few "choices".

Tue, 02/10/2015 - 16:43 | 5763648 SickDollar
SickDollar's picture

i got ripped off by  Uncle Sam cuz I don't invest in their BS 401k and fuck Their real Estate BS cuz i do not want to be trapped in the matrix

boy they Ripped me off today but i am not taking on any debt BITCHEZ

 

 fuck you central banks

fuck you tribe

 

 

Mon, 02/09/2015 - 17:30 | 5763677 Hohum
Hohum's picture

Why did you pay today?  You are giving the government your money too early.

Mon, 02/09/2015 - 17:33 | 5763689 SickDollar
SickDollar's picture

did not pay yet , just went to my tax man to see what i am facing

paper work is done but  i am no sending the check until Apr 15

Mon, 02/09/2015 - 18:21 | 5763859 new game
new game's picture

1726 pay in, my reward for not conforming. that doesn't include illegal tax penalty for being self insured... fuck the cock suckers and their sick system of freedom by taxation. or taxation without reppresentation. did the math though and i'm pay 6 percent of income. pays to be low income and living frugal and that is true freedom...

oh, fuck the fed, bitchez...

Mon, 02/09/2015 - 20:10 | 5764174 Creepy A. Cracker
Creepy A. Cracker's picture

Pay in all pennies shipped freight.

Mon, 02/09/2015 - 17:38 | 5763707 seek
seek's picture

I've been actively throttling back on work, literally killed off 1/3 of the product i put out as of Jan 1. Naturally I picked the weaker products, but with taxes pushing past 40%, the incremental value of those last dollars earned simply weren't worth my effort given nearly half was going to the government. I'll happily work less and starve the beast a little at the same time.

You want me to be poorer, Obama/Yellen? Fine, you're only hurting your own fucked-up system.

Mon, 02/09/2015 - 18:37 | 5763921 manofthenorth
manofthenorth's picture

Resentment

A man's a mug to slog away
    And stint himself pf ease,
When bureaucrats take half his pay
    To glut their treasuries.
A guy's a dope to work like hell
    To make one dollar two,
When most of it will go to swell
    The fiscal revenue.

So you who gripe at super-tax
    Of sixty-five percent,
Why don't you blissfully relax,
    And beat the government?
Cut down to half the work you do,
    Contrive on less to live:
Go easy on the job and you
    Will have less gain to give.

Just plump refuse to slave and sweat;
    Forbear to do your best,
When only half your wage you get
    And taxes claim the rest.
Although your talents go to rust,
    Your usefulness abate. . . .
Why make an extra dollar just
    To give it to the State?

If  I possessed a million I
    Would change it all to gold,
And in a safe my bedside nigh
    My treasure I would hold.
And though a tenth each year I spent,
    I'd live in leasure lax
On capital - Oh! So content
To bilk the income tax!

BOBERT SERVICE

Mon, 02/09/2015 - 19:09 | 5764000 TheReplacement
TheReplacement's picture

Hmm, not really.  Our taxes are only a control mechanism.  For really spending cash they just *poof* it out of thin air.

Mon, 02/09/2015 - 18:31 | 5763891 Stoploss
Stoploss's picture

" pull myself out of the work force "

 

The local zookeeper said the same thing.  Likened it to being stuck in an elephants ass.

Now that's a shitty job.

Mon, 02/09/2015 - 16:54 | 5763544 PartysOver
PartysOver's picture

Nah, The SheKing is just waiting for the ECB Printing Presses to start up.  Fed needs some of the money back before they get audited.

Mon, 02/09/2015 - 17:03 | 5763584 dimwitted economist
dimwitted economist's picture

print Mo Money.. Mo Money.. NO PROBLEM! 

Mon, 02/09/2015 - 18:34 | 5763906 tostaky06
tostaky06's picture

Print to save us from winter, damn winter !! damn Putin, Damn kids. They're all alike.

 

This is our world now...
Mon, 02/09/2015 - 19:11 | 5764005 TheReplacement
TheReplacement's picture

We, in the business, like to use the technical term, moar, moar money.

Mon, 02/09/2015 - 17:08 | 5763605 Sudden Debt
Sudden Debt's picture

I wonder how long before the Fed starts adding gold to it’s reserves to stabelize them.

 

Mon, 02/09/2015 - 17:09 | 5763611 venturen
venturen's picture

/SARC

Mon, 02/09/2015 - 17:32 | 5763686 cornfritter
cornfritter's picture

true story - i worked for a guy that worked for the fed (IT projects mgr. type), i did some stonework at his lake house.. he told me the fed does store plenty of gold, and jools too :-)  I believe him.  Anyway, he's retired living beach front...  "all this i promise you and more, if you'll bow down and worship me..." :-)

ps - you and the stick figure guy at the computer terminal have the best "avatar"s on here, cracks me up everytime i see them, and humor helps poor folks get thru...

Mon, 02/09/2015 - 19:12 | 5764007 TheReplacement
TheReplacement's picture

You haven't seen bouncy weiner guy (forget his handle).

Mon, 02/09/2015 - 17:33 | 5763687 LawsofPhysics
LawsofPhysics's picture

When CONgress and the department of justice start going after those "arsonists" like china...

 

http://www.cnbc.com/id/102410071

 

Mon, 02/09/2015 - 17:43 | 5763726 negative rates
negative rates's picture

From what I recall it was about 30 years ago or so when they decided to take the bondy route and set it in stone.

Mon, 02/09/2015 - 19:26 | 5764047 FreeMoney
FreeMoney's picture

Im sure the Banksters are using the Central bank to depress prices of phys so they can stock up for later.  They know whats coming.  They designed it this way.  

Mon, 02/09/2015 - 18:20 | 5763854 Martial
Martial's picture

"Yellen is hoping that the FED can win the next 100 consecutive power balls to keep the ship afloat! "

Yellen says the odds of winning the lottery are 50/50. Either you win, or you don't.

Mon, 02/09/2015 - 18:37 | 5763920 Dead Man Walking
Dead Man Walking's picture

Sad thing is, they can...

Mon, 02/09/2015 - 16:52 | 5763532 NoDebt
NoDebt's picture

Treading water is the new 'killing it'.

If the S&P keeps up this performance it might even be able to withstand an interest rate increase from the Fed later this year.

Mon, 02/09/2015 - 16:54 | 5763534 Cognitive Dissonance
Cognitive Dissonance's picture

The Fed's underwear is showing.

<I see London, I see France. I see Yellen's underpants.>

Mon, 02/09/2015 - 17:00 | 5763572 HonkyShogun
HonkyShogun's picture

The good news is Janet's also doubles as a parachute.

Mon, 02/09/2015 - 17:04 | 5763587 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

So the Fed's going to be able to manage a soft landing based upon Janet's bloomers? :-)

Mon, 02/09/2015 - 17:12 | 5763622 Luckhasit
Luckhasit's picture

You'd be surprised at the cushion Depends has.

Mon, 02/09/2015 - 17:32 | 5763674 alphamentalist
alphamentalist's picture

.

Mon, 02/09/2015 - 17:05 | 5763590 Bossman1967
Bossman1967's picture

Thats a terrible thing to implant in my mind can i get some bleach and wipe that image from my memory gross

Mon, 02/09/2015 - 17:07 | 5763601 pods
Mon, 02/09/2015 - 17:14 | 5763626 J Pancreas
J Pancreas's picture

-1 for not adding a disclaimer that the "alternate" link is for the fudge-packing crowd on ZH (ie: dudes). +1 for the regular link with the hotties. Therefore i did not rate your post since i cancelled myself out.

Mon, 02/09/2015 - 18:34 | 5763908 new game
new game's picture

been bleached

Mon, 02/09/2015 - 19:33 | 5764068 FreeMoney
FreeMoney's picture

+1 Pods...well done.

Mon, 02/09/2015 - 17:09 | 5763612 Michigander
Michigander's picture

I'll never be able to unvisualiize that. UGH!

Mon, 02/09/2015 - 16:53 | 5763536 RaceToTheBottom
RaceToTheBottom's picture

Geronimo!!!!

 

Mon, 02/09/2015 - 16:52 | 5763537 bobnoxy
bobnoxy's picture

This makes a difference? Any sign of trouble for stocks and the Fed just orders JPM, Goldman and Citi to buy boodles of S&P futures in their proxy trading accounts at each and another day of gains. It's so simple, only an idiot can do it.

Mon, 02/09/2015 - 16:54 | 5763545 101 years and c...
101 years and counting's picture

i wish someone had the countless hours to figure out how long before the FED balance sheet drops 20% from current levels.  afterall, all the treasuries and MBS they have will be maturing at some point.  one would even think that a lot of the QE1 debt that was purchased will be redeemed in short order.

Mon, 02/09/2015 - 16:54 | 5763548 new game
new game's picture

nope, folks, we got some problems that will only resolve themselves with dow 15000 and spy to 1700...rug tyme.

Mon, 02/09/2015 - 17:09 | 5763609 prefan4200
prefan4200's picture

I love your optimism.  If these problems are resolved with Dow 15000 and SPY 1700, I'll be happily surprised.  Cut those both in half, though, and I think you're closer to where we're headed when the SHTF.

Mon, 02/09/2015 - 17:54 | 5763775 new game
new game's picture

first stop. then qe4...

Mon, 02/09/2015 - 16:55 | 5763553 replaceme
replaceme's picture

I don't even read these any more, something goes down, I assume it's time to buy.  Same goes for UPs.

Mon, 02/09/2015 - 16:55 | 5763554 yogibear
yogibear's picture

In Federal Resereve LaLa land only stocks matter. And that they keep going up.

Unlimited debt. Everything else is fantasyland.

Yes, skittle pooping unicorns do exist and their at the command of the US Federal Reserve via Janet Yellen and William Dudley.

Mon, 02/09/2015 - 16:56 | 5763556 eatthebanksters
eatthebanksters's picture

Who cares about EPS or fundamentals?  They are going to keep priming this pump until is blows up.

Mon, 02/09/2015 - 17:11 | 5763558 LawsofPhysics
LawsofPhysics's picture

The truly "wealthy", you know, those self-proclaimed "job creators" had better start spending.  Everyone else is fucking insolvent.

Moreover, I wonder why any profitable business cannot access hundreds of billions at zero percent interest like the bankers and financiers...?

 

fuck em.

Mon, 02/09/2015 - 17:48 | 5763749 negative rates
negative rates's picture

You just have to take the class, get a job with a licenced firm, wait for the call, make the deal, close the deal, collect on the deal, and then hope the deal gets paid back. Or you could just start a hedge fund and consult your way to the top, I heard that on the internet, and you can't lie on the internet, I heard that on the internet too. 

Mon, 02/09/2015 - 17:59 | 5763803 SmallerGovNow2
SmallerGovNow2's picture

Who says you need to be profitable?  None of these other fuckers are....   See the cheese truck story for starters...

Mon, 02/09/2015 - 17:00 | 5763559 devo
devo's picture

Something can only go up for so long, and the bigger they come, the harder they fall. I'm hoping the markets continue to levite so I can better plan the most face-ripping short of alltime. When this ends only a handful of people will wind up rich, and they will mostly be shorts -- the rest losing all their paper profits. It has to work that way by definition. Timing is what everyone should be studying and focused on.

 

Mon, 02/09/2015 - 17:09 | 5763603 booboo
booboo's picture

the Goy won't be allowed to profit from shorting, you will have to have tribal papers to short. SEC rule 69er

Mon, 02/09/2015 - 17:51 | 5763764 negative rates
negative rates's picture

On your mark, get set, ......

Mon, 02/09/2015 - 18:06 | 5763821 devo
devo's picture

I don't know, man, I still think we have another round of QE and a few more years of this. There will be a saturation/breaking point where QE doesn't matter, and we are not there yet (e.g. if the FED announces a QE tomorrow markets will spike for the rest of the year). We'll know we are at the end when QE doesn't cause spikes or any excitement, and even a sentiment of sickness.

Mon, 02/09/2015 - 18:26 | 5763875 negative rates
negative rates's picture

Yea I guess you can relax in life once yer, west of the Mississippi.

Mon, 02/09/2015 - 16:58 | 5763566 monopoly
monopoly's picture

Why do I feel we are in the eye of a Class 4 hurricane and the shit storm is going to hit us on the other side.

"Trade accordingly:.  I am ready!

Mon, 02/09/2015 - 17:01 | 5763575 quaBeing
quaBeing's picture

starting my own business.

 

dehydrated rat meat.

 

very nutritous.

 

(flavored with an extract of castor oil beans)

Mon, 02/09/2015 - 17:03 | 5763580 new game
new game's picture

remember that jbl100 poster(speakers)? yea the shit is coming with velocity!

Mon, 02/09/2015 - 17:03 | 5763586 Inthemix96
Inthemix96's picture

Your going to have a job on your hands yellen when just more than 5% of us know about this shit darling.

It doesnt need saying, but anyhow, you have no idea what is coming your way.  Dog fucking himself wont help you cunt.

Enjoy it sweetheart, you fucking earned it.

;-)

Mon, 02/09/2015 - 17:06 | 5763593 B2u
B2u's picture

We really need some of the Fed governors to come out and talk their bullshit.

Mon, 02/09/2015 - 17:07 | 5763596 TomGa
TomGa's picture

Oh, quit your Yellen'.  It's too late.

Mon, 02/09/2015 - 17:15 | 5763633 venturen
venturen's picture

"It's the economy, stupid..." ....what's an economy...is that where you print money for the richest and give it to them for free or negative interest? Is that where you give bankers outragous bonuses to blow up the financial system? Is that where Washington politicans makes rules for the richest/bankers and then get a job at the bank/Private equity as a reward afterwards?

 

As we know according to Clinton and Obama...."you didn't build that"... only the government does!

Mon, 02/09/2015 - 17:20 | 5763644 Arkilokoos
Arkilokoos's picture

Is Google buying Twitter?  Anyone know anything?

Mon, 02/09/2015 - 17:31 | 5763681 1stepcloser
1stepcloser's picture

not sure, but I'm in for titter and twater

Mon, 02/09/2015 - 17:30 | 5763678 kchrisc
kchrisc's picture

Guillotine lives matter.

The banksters need to repay us.

Mon, 02/09/2015 - 17:31 | 5763680 The worst trader
The worst trader's picture

Bullish! going all in! Bought the dip every time and you can't go wrong! I'm RICH RICH RICH! Till the margin calls .........ops I did it again

Mon, 02/09/2015 - 17:38 | 5763708 SnatchnGrab
SnatchnGrab's picture

When (not if but when) the violence comes, a lot of people are going to be identified and drug into the street. And terminated. 

With extreme prejudice

Mon, 02/09/2015 - 17:44 | 5763731 Pareto
Pareto's picture

I would help pay for that to happen - you know - provide a donation towards wages - hot meals and such for those doing the dragging.  There's no free lunch.

Mon, 02/09/2015 - 17:52 | 5763769 Batman11
Batman11's picture

The markets are always slow to react.

The sub-prime defaults started in 2006 the crash came in 2008.

Home prices softened in 1926, car sales dropped in 1927, construction leveled off in 1928, the crash came in 1929.

The FEDs first round of QE came in 1923.

Sound familiar.

Mon, 02/09/2015 - 18:26 | 5763877 MauritiusGold
MauritiusGold's picture

I think Yellen's a bloke....

Mon, 02/09/2015 - 18:35 | 5763910 orangegeek
orangegeek's picture

Yellen is the problem. 

 

Look Janet, if you'd stop bidding the market and 'fess up to that $10T balance sheet you have (not the $4.2T you're lying about), we'd all be a little better off.

 

Care for an auditor Janet?

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