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No Bullard Bailout Today: Unscheduled Fed President Comments Leave BTFDers Bent Over
The last time Bullard made unscheduled comments during a market crash, was last October when he hinted at QE4 and the market went vertical. Moments ago the St. Louis Fed president once again was quoted by Bloomberg, this time speaking on SiriusXM of all places, although much to the chagrin of Pavlov's BTFDers, he had absolutely no soothing words for what is a week the permabulls would love to forget.
- ST. LOUIS FED'S BULLARD SPEAKS ON SIRIUSXM BUSINESS RADIO
- BULLARD SAYS MORE SANGUINE THAN MARKET ON GLOBAL OUTLOOK, CHINA
- BULLARD: FED WILL ASSESS ECONOMIC PROGRESS AT SEPT. FOMC
- BULLARD: LOT OF GOOD THINGS HAVE HAPPENED IN U.S. LABOR MARKET
- BULLARD: WE'RE IN VERY GOOD SHAPE WITH RESPECT TO LABOR MARKET
- BULLARD SAYS HE SEES U.S. JOBLESS RATE DECLINING FURTHER
The funniest line by far:
- BULLARD SAYS FED DOESN'T REACT DIRECTLY TO EQUITY MARKETS
Yeah, we are still laughing at that one... But worst of all for the 17 year old hedge fund managers:
- FED'S BULLARD SAYS U.S. GROWTH OUTLOOK IS "RELATIVELY GOOD"
Which is horrible news for those begging for QE4 yesterday.
Oh well - if the Fed won't prevent a 10% correction, check back when we are approacing an S&P bear market.
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Bullard: LOL
BULLARD SAYS FED DOESN'T REACT DIRECTLY TO EQUITY MARKETS!
since when exactly?
the Fed gives Goldman/various HFT outfits lots of cash and tells them to interfere
see, no direct link.
They don't directly intervene?
Oh well l okay then. i was getting suspicious.
The Fed doesn't directly intervene. The goombas and wisemen of the treasury do that nasty deed..
and not until the market is down 10% on the opening will they panic
Latest update:
Maybe they should lower interest rates.....oh wait.......maybe they should raise interest rates....just try it Bullshit Bullard
So an unscheduled statement by Bullard stating the Fed is indirectly intervening.
He is basically saying chill until the indirect intervention works its way through the system.
fuck bullard in the ass, he is on cloud 9er, try living on a 13/hr job that used to pay 20 plus and scrap by. oh, yea(fuckhead), plenty of jobs, yea, sucking dick, waiting tables. clean your fucking mansion, warehous at amazon, walmart alnighters, fuck off you cocksucker in a ivory tower. clueless basterd...
Old news made new.
"That could be a precursor to difficult decisions in the months ahead."
http://www.wsj.com/articles/fed-signals-rate-moves-before-years-end-1434...
Uncle Janet has moar weapons in her toolbox. In Sept. she'll uncork "Operation Grift" and "buy" loads of student debt, subprime autos, pay-day loans.
Presto! We're saved!
so "directly" being the key legal defense term here...
very resourceful...
Beelzebub won't buy it, though, as he has a special place in hell reserved for legalists.
does he sell tickets so the rest of us can watch from a distance?
(i know i shouldn't derive pleasure from that... but i'm only human after all).
and are there umbrella drinks and parasols available?
i'm contacting my travel agent now...
Fraud-Falsifiers: Circle 8, Bolgia 10.
Good idea.
Bring your own ice, and don't forget to tip the ferryman.
Pavlov's BTFDers
That's exactlty what they are too.
the boyz are short......time for some sheep meat
You mean,
Muppet meat.
They like their lamb chops well done
http://www.bloomberg.com/news/articles/2015-08-19/sunedison-sped-up-1-bi...
So he reacts to the equity markets by saying he doesn't react to he equity markets?
lol.
Send in the clowns!
pods
Bull(ard) fucking shit!
Did he actually say that with a straight face? Was this a tweet so nobody could sim him laughing?
The labor market is a lagging indicator! Are these the only positive data points they've got?
They get a fucking discount for TRADING the market. And with unlimited funds. Its public knowledge. WTF!!!
That statement alone should get him fired.
FED DOES REACT DIRECTLY TO INSTRUCTIONS FROM THE BANKS THAT OWN IT.
PPTs have a 3:30 plan in the works, otherwise they'll be canned by 4pm.
The equity markets indicate the reponse by the Fed, not the stimulus.
just look at how it moves as it attempts to reach lower lows....
a steady decline over time to the downside followed by sharp moves off the lows in like 30 minute pops...
http://www.marketwatch.com/investing/index/DJIA
over and over again...
Luring the BTFD and shorters to fuck them both.
so 3M is the stock in the Dow that everyone is buying hand over fist to keep that 300 plus point loss of the books today aye????
yeah, the calvary to rescue for the reminder of the day....
If they were attempting to instill confidence with that comment, they would have been better off sending out a drooling, topless, cockeyed Yellen mumbling incoherently.
I was going to give you -1 for the visual then I reconsidered when I realized you limited it to "topless."
FED'S BULLARD SAYS U.S. GROWTH OUTLOOK IS `RELATIVELY GOOD
...on a long enough timeline...
Looks like the Fed is willing to sacrifice equities in order to preserve a strong dollar. In the future, as things get worse (and after the dollar has strengthened some more), they will sacrifice the dollar once again with QE to prop up equities/bonds.
Did he mention the impending new gold standard? No?! How odd....
Somebody didn't shove the proper floppy in the right orifice, so all he can produce is base programming platitudes.....
Did he just blow the Fed's credibility. We will know in a few weeks.
BULLARD: Serveral alternative inflation measures near 2%
I.E. - NO QE.
Ut oh. Rich are gonna eat the shit stick this time.
yes not directly but indirectly obvioiusly.
The Theory of Evolution works in Economics.
We have winessed the creation of a new animal.
The FED is the ass and the EQUITY MARKET is a tentacle.
There is no difference between the FED and the MARKETS.
The QUEEN is dead, long live the queen(s).
Time to raise rates and claim victory before trying that negative interest rate thingy in 2016.
Janet Y: We need to turn this market back into a bull people. Quick, Kevin Henry use every last tax payer dime to sell the VXX. Call Citadel and ask them to turn on the illegal spoofing machine. Hell, call gartman and tell him to announce on CNBC he is shorting 1 unit of the S&P. This isn't about saving 401k's, this is a matter of being right, we cannot be wrong!
The market is calling bullshit on Bullard by selling off to force the Fed to react. I need some popcorn.
I am always amazed when pontiffs speculate that the FED is this, that and the other thing.
No one outside the FED (and maybe a few within the FED itself) actually knows what the end-game is.
Therefore it is impossible to postulate with reason, exactly how close the FED is or isn’t to its goals, whatever they are.
They may be precisely on target as only they know the target and how good their aim is.
To assume that the FED is interested in the welfare of the world, or any portion thereof, which is not expressly within their unknown destination ….. one cannot estimate their arrival or how close they are to it.
The only thing the FED is out of is a reputation for honesty and fair dealing.
The Fed does not have to do ANYTHING. The money for hyperinflation is already out there. That and the response of the government as it tries to maintain it's lifestyle will be all that is needed.
Coming soon to a world monetary systemnear you and your planet....unless we get a repeat of the Maunder minimum...in which case I suspect food commodities will get bid.
Is Bullard a KIKE?
Does a bear shit in the woods?
Fun when these ass wipes have to put stacks of burning tires around their Hampton homes.
BULLARD SAYS FED DOESN'T REACT DIRECTLY TO EQUITY MARKETS
They just pay Citadel to do it for them.
Beat me to it Yen. +100.
Nav Sarao says 'don't blame me this time'.
Where's Beeks? Where in the hell is Beeks?
Forex appears halted. Well at least in USD/JPY I see no movement. There's bid ask but zero prints.
Forex.com is down.
The FED is the "market". The recovery that never was, rolls on.
The commedy world lost Joan Rivers but at least we have the Bullard...the guy is a riot!! ('the Fed does not react to equity markets hillarious!!)
Joan Rivers is rotting in hell, that goddam KIKE bitch. Was never funny,
Just before croaking she said all Palestianian kids should be killed.
I am trying to find out where she is buried so I can take a shit on her grave.
Somethings never change
https://pbs.twimg.com/media/CM2pQveVAAI08LM.jpg
August 21, 2015
Rome, Italy
I grew up in Texas in a middle class household to two very hard-working parents.
And to say we were middle class may even be a stretch. We were definitely clinging to the bottom rung of middle class.
Money was always a problem. And my parents each held multiple jobs in addition to making a go of their own business in order to make ends meet.
I never missed a meal. But the constant stress and worry about how we were going to pay the bills that month was palpable.
We didn’t have medical insurance or any savings, meaning we were just one illness or urgency away from being wiped out.
There always seemed to be too much month at the end of the money. So every penny mattered.
We didn’t buy anything unless it was (a) necessary, and (b) a major bargain.
Things eventually got better, as they tend to do. My parents found their financial footing and became more successful. And I’ve done well in life.
But I’ve taken those middle class values with me into the world, and they’ve deeply impacted my own investment ethos.
Just like what was drilled into me when I was a kid, I can’t stomach overpaying for anything. Even when investing, I’m only interested in a major bargain.
This happens occasionally in investment markets, though it’s extremely rare today.
There are plenty of profitable, well-managed companies out there. But they’re incredibly expensive. Twitter, for example, has a valuation of $17 billion. Yet it lost nearly $600 million last year.
Netflix manages to grind out a profit; but the company is valued at more than 200 times its earnings.
AirBnB is a private company. Yet its value is at least $25 billion even though it doesn’t own a scrap of real estate or turn a profit.
These all strike me as extremely expensive. And ludicrous.
But it’s unfortunately the norm these days.
Most financial assets are in major bubbles, whether it’s real estate (yes US housing is at that point again), stocks, bonds, private equity, etc.
So it’s very difficult for anyone with middle class values to invest... unless you expand your thinking to the whole world.
There are pockets of value out there if you look hard enough-- like mining companies and developing markets.
Let me give you an example of something that I bought recently, and talk you through my thought process. As a caveat, I should tell you that I generally dislike stocks.
Stock markets are a rigged game designed to extract wealth from the little guy and put it in the pockets of investment banks and high frequency traders.
So for me to be interested, there better be some serious value on the table.
Royal Dutch Shell, one of the world’s largest oil and gas companies, is a good example.
Thanks to the slide in oil prices down to $40 (and perhaps lower), Shell’s stock price has been hammered.
So the company is trading right now at the value of its net tangible assets.
In other words, by buying Shell stock, I’m purchasing every asset the company owns at COST.
Yet on top of that, they pay a 7% dividend yield.
In real estate, it’s like being able to purchase a beautiful house in the best part of town at a price that barely meets the cost of construction.
And on top of that, there’s built-in rental income that starts putting money in your pocket right away.
This is a solid deal in my mind, especially for a company that has a long-term history of consistently growing its dividend yield.
(By the way, I can reinvest the dividends that they pay me into more shares, so I’ll be continually adding to my position over time.)
The added benefit is that Shell is not a US company.
I bought the stock overseas (I’ll explain why next week) and paid in British pounds.
So I could make money off the dividend. Or if the stock price goes up. Or if oil prices go up. Or if the pound appreciates against the dollar.
That’s one of the primary benefits of investing internationally: there are a LOT of different ways to make money.
And it makes a ton of sense to do this now that the dollar is at a 10+ year high against nearly every major currency out there.
(Again, developing markets are looking especially cheap, and I also bought into some of them as well, including Russian and Colombia.)
To be clear, I’m not recommending that you follow me into this.
It’s entirely possible that Shell’s stock gets cheaper. In fact, I’m expecting it. I also expect it will stay cheap for a very long time.
I just have the willingness to wait, because I know that it’s hard to lose when you buy profitable assets so cheap. Plus, Shell has seen worse in its history.
During World War I, for example, German forces wiped out over 20% of Shell’s production capacity.
So I’m confident they’ll be able to weather $40 oil without collapsing.
Have a good weekend,Simon Black
Founder, SovereignMan.com
Dividend stock price change has been less correlated to QE shenanigans. If you hold the stock long enough, oil prices will recover and you'll do well. Downside risk is paradigm shift, or if the Negrotiator decides to try to kill oil via EPA taxes/"regulation".
If only Bullard could have had a momentary crisis of conscience tourettes style and said "Jesus Christ what a sack of lying shit I am... This going to get messy"!
"Which is horrible news for those begging for QE4 yesterday."
It's actually Great news, because every one of those points he made, he knows himself, are absolute Bullshit on their face - i.e, 'liesure & hospitality' and LPR at 1977 levels... Trying to throw a sneaky outside slider, and ends up tossing out whiffle ball...
Dear General ultimatum of Saturday will take care of all markets on Monday. Will unleash unprecedented hell on Wall Street.
Can we get the deer-in-the-headlights pretty please.
Haha, unlike October, this time Bullard is short the market
This is the treatment we ought to mete out to finacial terrorist like Bullard:
http://www.liveleak.com/view?i=e94_1317489390
Look fair to you?
S&P Close >2000
S&P Close <2000
<2000
I voted > but with no conviction.
i have no skin in the game so i voted with momentum
Holding 2K in striking distance all day -- question is: does Lucy yank the football this time? Is Bulltard a tell or a headfake?
charlie tucks the football and runs for the wrong endzone
"BULLARD SAYS FED DOESN'T REACT DIRECTLY TO EQUITY MARKETS"
Somebody always has that Brooklyn Bridge for sale. Somehow, they never manage to sell it.
People are buying and selling the Brooklyn Bridge all the time on the crimex, It's been rehypothecated 100x over, but that's ok, since no-one really wants a bridge to Brooklyn anyways nobody takes delivery. They just roll it over.
Personally I am short Brooklyn Bridge in my margin account.
And as we speak a vertical take-off occurs at the 2 O'clock hour!!
If I were the momo boys and BTFDers I wouldn't stand for that. Just like the Chinese "investors" I'd go to that Mariner Eccles building and demand an ever rising stock market, and let them know in no uncertain terms that if it doesn't happen the central bank will be diissolved and they'll make another one that can get the job done! They need to show 'em who's boss, light a fire under their asses so they get a better understanding of Amerinomics. They need to tell 'em: a central bank that doesn't make equity and real estate prices go up forever is as useless as tits on a boar.
Light them up like this?
http://www.liveleak.com/view?i=e94_1317489390
That's it, boys. Plunge is over, Protection team in action.
S&P will end near unchanged on the day. That's my prediction. This is just to scare people enough for when it gets real next month.
This is just a training exercise.
Is Bullard a KIKE?
Does a bear shit in the woods?
What they do is directly hit the PRINT button, and then indirectly buy shares in stocks and ETFS that are identified as key to turning the indexes around.
How about this: certian hedge funds have access to very generous lines of credit from the banks which own the Fed and are in turn backed by the Fed's printing press. Those hedge funds execute the "indirect" policy.
.... right after getting off the phone with Blankfein who advised Bullard that his salary at GS would be 50% higher if her let it fall right now, while the trading desks were still thin
MEGA PUKE FACTOR 9 BEX ALERT - Study of Holocaust survivors finds trauma passed on to children's genes
Genetic changes stemming from the trauma suffered by Holocaust survivors are capable of being passed on to their children, the clearest sign yet that one person’s life experience can affect subsequent generations.
"See? See? Now you have to KEEP on giving us money, forever and ever and ever and ever and ever ..." -- Nodding Yahoo
In Kanada, I'm starting to hear people are offering classes in house flipping. I seem to remember hearing these ads on Amerikan stations years ago.
Top?
http://www.reuters.com/article/2015/08/21/us-usa-fed-inflation-idUSKCN0Q...
US Federal Reserve tightening cycle scenario involves risky bet on inflation
By Howard Schneider
August 21, 2015
Federal Reserve officials planning to lift interest rates as soon as September have been encouraged by solid U.S. jobs growth, but inflation holds the key to how far the Fed can go in moving rates away from zero.
Fed officials have said that they do not need to see prices accelerate to start raising rates after six years near zero, and "lift-off" appears nearly ordained by a 5.3 percent unemployment rate, the lowest since April of 2008.
But it would be a leap of faith to move any further without proof that prices are on the rise, say current and former officials familiar with the central bank's debate and the current state of inflation research.
If prices remain stalled as the Fed tightens, inflation-adjusted "real" rates would rise faster than the Fed wants, and threaten the recovery. Given the uncertainty among economists about how inflation works in the post-crisis world, it may be risky to assume higher prices will necessarily follow a tightening job market.
"There is a big component of inflation that is just going to be idiosyncratic and unexplained," leaving policymakers to take their best guess about it, said former Fed research director David Stockton.
He said that after an initial rate increase, Fed Chair Janet Yellen would lead her colleagues on a "cold, dispassionate examination" of what the inflation data are actually showing.
"If inflation is not moving back to target ... then she can argue for a go-slow approach."
NEW DYNAMICS
Inflation will be the key topic at the Fed's annual Jackson Hole economic conference on Aug. 27-29 and the gathering is likely to highlight how little policymakers and economists feel they understand about the behavior of something so central to monetary policy.
Inflation did not fall as much as expected during the 2007-2009 recession, it has not risen as much as expected during the recovery, and there is suspicion it may remain hard to budge, said Michael Owyang, an assistant vice president at the St. Louis Federal Reserve Bank.
"There has been a lot of new research. Volumes of new research. And I am not sure there is a consensus about how policy affects inflation at the zero lower bound," Owyang said, referring to the fact that the Fed's benchmark has been held near zero since late 2008. "Inflation dynamics have changed."
The rest of the world is not helping. A weak global economy has depressed world commodity prices. The prospect of the Fed raising rates has boosted the dollar, further undercutting inflation through lower import prices.
That has confounded the Fed's forecasts for a year now, and according to minutes of its July meeting remains a central concern - and one of the risks that could delay an initial rate hike beyond the Sept. 16-17 policy meeting. After the minutes laid out the internal debate about inflation, investors cut their expectations for a September "liftoff" in favor of December.
The Fed, keen to move away from zero and create some policy wiggle room, may still move. But at some point it needs inflation to do so as well.
Personally.. I think the weather has something to do with today's market...yes..I see thunderstorms, lightning, hail, tornados, water spouts, and high winds... batten down the hatches...
the hell they don't
Doesn't react to markets? Who the hell are they kidding . . . sure not down 5%, how about 20%. The fed will blink and that will be the starting gun for gold. The fed is losing control . . . .
Yeah that's why we have record high volume of OIL that no body is using. Bullard = Bullshit.
It is 3:26 p.m. EST and the S&P 500 is below 1983.
This looks like capitulation to me.
Margin calls will beget sales of PMs and lead to lower AU prices?????
Lower AU prices is counter intuitive but makes sense if you factor in financing of margin calls!.....Maybe?
The people having to make those margin calls all despise PMs, shoot their wads on equities, but when their paper dives they are purportedly driven to sell their massive gold and silver holdings (they never bought) right? These canned responses (profit taking, covering margins, etc) are getting a little threadbare.
The monkey hammers come out whenever the equities slide, that is all.
The BTFD'ers got cornholed after they bought it.
BULLAAAARD!
You should at least buy them dinner or a happy meal or something first!
WTF? Since when?
He's like that 10 year old kid from Mad Magazine and his baseball cap which read "professional liar".
This was Kevin Henry day off.