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Fed Fails - American Spending Growth Is Weakest Since March 2011
Core personal consumption growth in July was just 1.2% - the weakest since March 2011. Whatever The Fed is doing to grow the middle class (yes, yes, we know: that's not in the mandate - only the "wealth effect" is) is not workingm and as the following chart suggests hasn't worked for the past 35 years.
Chart: Blooomberg
Lower rates is not helping, and higher rates didn't work in the 90s: maybe The Fed is all talk and CONfidence after all.
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The Fed only serves its masters, the 0.1%, who now have more wealth than the bottom 90%
The Fed Won: America's 0.1% Are Now Wealthier Than The Bottom 90%http://www.zerohedge.com/news/2014-11-11/fed-won-americas-01-are-now-wea...
Our finest criminals, Dimon and Blankfein, are billionaires
ZIRP will collapse the US:
http://www.safehaven.com/article/38731/zirp-leading-to-economic-collapse-much-higher-gold-and-silver-prices
Nonsense, there's all that pent up demand they keep telling us about, so get your sub-prime car loan now......
Right. Because of the non-existent class war that was fought (but wasn't fought) by the criminal Elite class against we, the people.
Trickle-down economics worked. It successfully persuaded the masses that they, too, can become rich, if they just work hard enough and further enrich the already enriched.
Can a poor person work their way up the ladder and become rich? Sure. There are always exceptions to rules. Most of those exceptions, however, play with some sort of ball or hold a microphone for a living.
"you should be grateful. If we didnt intervene we would be in much worse shape"
"one more round of QE and everything will be awesome, youll see"
"leave the charts to the professionals and go take out a margin loan for a big house"
When everybody has a flatscreen teeve, they're up to their eyeballs in iCrap, have a new car that costs more than their home parked in a driveway, and a $200 pair of sneakers on their feet, what is there left to buy?
I bet I can find some "services".
Hmm, interesting. Now that you mention it, there's a "Honey's House of Happy Endings Massage" just up the road. Maybe I should help save the economy and pay them a visit...
I'd be afraid of running into somebody I know that works there, lol! It may become the only work available if the Fed keeps up this crap.
Well put, doc. Now that we've seen the way this whole thing has rolled out for the last 30 years or so, we know that it can't continue to meet any stated goals. We need a new type of economy, and a sound money system again, neither of which are even in the planning stages, as all efforts working on present problems with the "smartest" people have been focused almost exclusively on maintaining the status quo Ponzi system.
Doc, I must be doing it wrong since I don't have any of that shit and I'm too stupid to get myself eyeball deep in debt to get it.....
End the fed. Period
Fuck me sideways....for the next 30 years.
And with the long-overdue recession arriving soon, personal consumption is certainly headed even lower. Soooooo this suggests US Tsy rates are going lower too. I've been long UST's since late 2013. This is just another reassuring sign that I should remain long for the foreseable future.
You could have just stoped at "Fed Fails." Nothing more really needed to be said as that alone sums up the entire clusterf**k we're all in now.
Hang in there. Liesman and Hilsenrath project a bounce "early next year" and if that fails to materialize they project a "second half rebound".
The fed hasn't failed. Their job is to enrich and protect the 1%, and they are doing exceedingly well in that area.
Does the fed control the oil market? Up another 5% today. WTF!
Looking at a 95 Ford Aspire...needs tires, so doing my part...
And so we bear witness to the perversity brought about by 30 years of price fixing.
So the answer must be: moar price fixing.
. . . "Fuckin' ungrateful consumers! Go buy shit NOW!"
Yeah, Dafne Schippers
Gold medal in womens 200 Meter final today.
Hup,Holland, Hup
https://www.youtube.com/watch?v=oLIOlxZdXD0
How many times does one have to prove the fed is wrong for the fed to accept that they are wrong. If the fed were a trader, they would have lost the house, cars, kids college fund, every penny in their pocket, shirt off their back, wife would probably also be banging the garbage man. Fed, you were wrong, admit it so the world can move on. If you need to, blame the entire thing on the incompetence and arrogance of Ben Bernanke.