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Crude Carnage & Asian Contagion Crushes Hype-Fueled Dreams Of US Stocks
A'twofer' today... The arrogant BTFDiness of Friday's talking heads...
And for everyone else worried about the "containment"...
So 3 big stories today - Equities collapsed... VIX ETFs turmoiled... and Crude Oil crashed...
But before we start - something odd is going on... Simply put - it is very clear now that stocks are moving in lockstep with JPY carry (China forced unwinds) and long-dated TSYs (China selling) have entirely decoupled from the rest of US assets...
We suspect that as Monday's collapse occurred last week it forced "Risk Parity" shops into selling as China's intervention throws ther asimple arbs (equities down, yields down) into a fit - unleashing all sorts of negative feedback loops which are stil underway.
As Volatility relationships 'break'...
Which summarized simply means - any time you introduce an exogenous signal to a correlation pair, it blows it up and forces derisking. The more leverage on both legs, the more unwinds needed... and the more negative the feedback loop. And this 'correlation pair' game has been going on for 5 years unabated.
* * *
This is the worst "first day the month" since Mar 2009 for The Dow
Since Sunday night, things have not been great for stocks with aggreesive US futures selling during the Asia session and weakness towards the US Close...
Leaving all major indices notably in the red for the first day of the month...
And we use The Dow Futures to illustrate the pull back... Dow was down over 530 points at the lows
Which has slammed Nasdaq back into the red for 2015 - joining everything else....
FANG stocks are all sufferring post-FOMC Minutes...
As Financials and Energy were ugly...
VIX rose over 10% to top 32 as the VIX complex was a mess of short-squeezes and liquidty holes. S&P is catching down to XIV (inverse VIX ETF)...
With what looked like VIX ETF margin calls into the close...
NOTE: After late-day mismacthes were offset - VIX was smashed lower as always to ensure stocks close "off the lows"
Treasury yields were bid through most of Asia and Europe's session then sold off in the US session - despite equity weakness - before a late day rally...
The USDollar Index drifted lower today as AUD plunged and JPY surged...
Commodities were a mixed bag with Gold & Silver gaining as cruide and copper were clubbed...
Crude Oil was a catastrophe. After yesterday's epic rtamp squeeze into month-end, today saw a total collapse- the biggest drop since OPEC met late November. Note they tried to ramp it into the NYMEX close but that failed...
- *WTI FALLS $1.65 IN LAST 15 MINS. OF TRADING, SETTLES AT $45.41
Then touched a $44 handle...
Gold remains the only safe haven for now post-FOMC...
Charts: Bloomberg
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Tumbling Tuesday.
Sell in September and walk away...
I have been reading "tragedy and hope" and let me tell you what we are seeing is almost exactly like what happened after WWI in the financial markets.
Was the Plunge Protection team around then?
I think Janet Yellen was
Video was awesome.
His chiropractor musta loved his rounded back form.
If you break form, you failed the lift.
Woke up spitting chicklets to boot.
pods
Probably herniated several discs in his lumbar spine on that lift.
"A man's just got to know his limitations." -- Harry Callahan
If you own the DOW,
CONGRATULATIONS!!!!
EVERYTHING IS AWESOME!!!
YOU'VE ONLY LOST 10% OF YOUR MONEY THIS YEAR!!!
" Yes we can! "
My hopes are not crushed. I still watch CNBC though so...
Only if you sold, there's another 10% drop you can realize if you wait a lil longer to sell..
10% down from the peak so far. Following the announcement of QE4 (and anyone who thinks this isn't coming has got to be so thick a neutrino couldn't pass through them) it'll back to and beyond the highs.
As long as the sound is turned down.
Why do you not just prosecute these people. I figure 80% of the population in USA USA USA is being frigged without vaseline. How much is it going to take?
Yes we can.
Now you got "You're fired" and "Trust me and Bill" Or "Build a wall cause I got no other issue so build a wall along the 49th"
Frig.
Another day, another cop killing http://www.cnn.com/2015/09/01/us/illinois-police-officer-shot/
Another day, another team of cops shoot and kill an unarmed man with his hands in the air and they lie about it.
http://www.infowars.com/video-shows-texas-cops-shoot-man-with-hands-up/
Sigh...
To hell in a handbasket.
FOX, CNN, and MSNBC are all 24/7/365 reality shows?
the new theme:: 'Manhunt's Most Want`dead'
Bexar County Sheriff's Office:
(210) 335-6300
Use a phone shield/forwarding program like Twilio if need be, but seriously now, how can you sit idle when someone gets shot in broad daylight.
Seem to be a lot of these in the lead up to Jade Helm. But they would never use mercs to kill cops. Anyone who paid attention to Ukraine would know this.
---
Holy shit:
http://www.cnn.com/2015/09/01/politics/david-petraeus-al-qaeda-isis-nusr...
"It was an arresting headline in The Daily Beast on Monday: "Petraeus: Use Al Qaeda Fighters to Beat ISIS." The report didn't quote retired Gen. David Petraeus directly, but suggested he had told associates that he supports using "so-called moderate members of al Qaeda's Nusra Front to fight ISIS in Syria.""
whats so contentious about that, i mean, were al qaeda ever really off the payroll ??
The true believers who did the dying went off the payroll for sure.
Watching the obvious ramp attempts fail so badly was amusing. PPT loses!
They tried to lit the market fire but the timber was all wet...
LOL Special on CNBC tonight at 7pm.
Reverse Tuesday? I guess last Tuesday "record market recovery" kinda lost its shine... Oh, well! BTFD anyone?
Ah, I love this. I feed on the tears of bulls. If they loved buying AAPL at $113 they'll love it even more at $97. This bear market hasn't even started yet. This minor correction is already making people feel the pain. Wait until they are down 30% across the board. It won't be long.
Amen brother, told all my friends to liquidate their stock holdings, especially Apple. Most bulked at the idea, so I told them at least do a fraction. Their response "It's apple... very strong company... this is just a dip like last time, it will rebound." I just responded... "You know what, you are right." and just left it at that. I am tired of warning people and making sure they understand what is happening, been doing it for a year now and it just falls on deaf ears. One mofo even told me last Thursday "See markets are fine, what were you saying about markets tanking" with a smirk on his face. How right Mark Twain was when he said "It is easier to fool a person than show him that he has been fooled."
I learned this about 7-8 years ago....people don't want to listen to the truth. They think all of their 'offficials' and the people running these businesses know what they are doing. That is the biggest mistake. They only know some small pieces and use these on large magnitudes....Now, I just drop hints and if I find someone interested in listen, then I give them a history lesson starting with facts right after america's birth....most don't wanna go down the rabbit hole and just nod and move along. I've found a few that have listened and understand what is happening. These make good talking companions and prep friends. Good luck to you!
Even if the people running the businesses know what they are doing, it doesn't change the fact that the market can force their hand.
At last... the GATHERING.
https://www.youtube.com/watch?v=pNKCnEXF4lM
I was watching Fox News after the close, the one black guy from Fox Business was covering for Cavuto and was talking to two market analysts and Cavuto's replacement said something that stunned me. What he (roughly) said was:
"I'm of the camp that the federal reserve was created down in Jekyll Island to enrich not the one percent, but the one percent of the one percent and that none of the 4.5 trillion in QE went to the average joe but all went into stock funds"
I got legit chills and couldn't believe that was being said by a host of a mainstream media show... The end game must be drawing near.
Over on CNBC, Steve Liesman tried to make a rebuttal, but it was unintelligible because he had Mr. Yellen's balls in his mouth.
Stuart Varney is unbearable. Fox is pathetic.
Yeah, I remember that black guy. He was the one in '08 saying that Bear Stearns was a buy - with a risk caveat. Good times. I also remember FOX had that long haired subprime mortgage hippie on every weekend, then he vanished into thin air. Poof!
Think you're referring to Charles Payne. He is the sole and ubiquitous voice of reason in a sea of stupidity. I agree with him far more anyone else on any "news" networks.
And queue exploding Mercedes in 3...2...
If this keeps up, all lakes and rivers will be rainbow colored.
mom and pops , and the "retail investors" rushed right in there in the last 10 minutes to bump the Dow up 100 plus and prevent a plus 500 point loss...how patriotic....
fucking farcical.
Thank goodness this is a different article or a lot of the new crowd would not catch the sarcasm. Agreed about the farce. At 330pm est you can watch it live. If you ever feel risky throw on a renko chart and watch it. it reminds me of Atari.
Keep Stackin'
and i liked how they dumped on the phony paper prices of the only 2 forms of real money throughout the day...especially Silver which they walked all the way back to - wait for it.....
The same price at the close yesterday?????
http://www.kitco.com/charts/livesilver.html
yeah, right....
DEATH TO THE MONEYCHANGERS.
This is why most people see gold and silver as a bad investment. Central bank mission accomplished for the majority of a retarded population.
I feel sorry for all of us because we live in the wrong timeline. I am not fond of this movie.
no it aint fun watching daily fraud and manipulation aimed at convincing u to do that which resluts in your own financial ruin and enslavement..all to keep hosts ignorant, brainwashed masses alive for the MoneyChanger fucking scum to feed off of....
fuck'em...aint gonna work for much longer and they know it...thats why theyre doing the obvious bullshit theyre doin...
as u said...just keep stackin while theyre giving the shit away....
Someone has to explain how losing x% in stocks versus holding even in metals are not equal outcomes.
Everyone who reads my post and buys stocks gets a trophy that looks like a rock. You just have to go outside and look for it. Hell, pick any old one you like. When you see how your stocks pan out you can crawl under your trophy.
Blew a few of my brain cells today. Watching futures dump and gold/silver being crushed or contained.
Huh?
How low can the dump silver before all the miners go bust? Then scoop up the world supply? Is that the plan?
Want to shoot. But in thinking. I feel that public stockades with public humiliation would work very well. Let's see how Dimon and the boyz feel about being hit by rotten fruit and public opinion feel? How long until they squeal?
Can't wait for snow in the winter to really put the nails in this coffin LMAO
"Nobody saw it coming."
I need more cowbell!
It's gonna take a damned big cowbell for this one.....
Or a bear bell. But the funny thing about them is they don't scare the bears.
they don't scare the bears, they just ring the dinner bell for them to come and get it.
I got a hanker'n for more!
I got a fever....
Embearassing.
That's not punny...
Aaah! Would ya look at them trying to ramp it back to VWAP after cash close, bless their cotton socks.
LOL!!!! I am watching as I type to you. Low volume ramp a thon.
Hope they get it there...and with a good bit of overshoot as well.
Hedged out current positions at 3 pm and repositioned a bit...didn't quite catch the bottom....Think there is more downside ahead, but expecting a quick pop first and then a week or two grinding lower.
Another perfect, timely call, JMF, I was thinking today that, given sophiisticated players use options more, your expertise in that realm gives you a good leg-up on what may happen. Anyone else would have a fee-based website, but hope you continue to give us your TNA forecasts for free :)
Thanks KCS. Got lucky again....Just here to help the bretheren take back from Caesar when I can. Whatever I do should be taken with a grain of salt...I'm over due an ass kicking by Mr. Market.
Hope you faired as well today
Hope you morons make a fortune. This whole financial system is set up to make assjoles like you rich 'playing' the markets, while truly productive people who add value to the system are fucked
Financial Blog????????
Hello?
“Productive”? You mean like working for 20+ years before being laid off, then working 80 hrs/wk for 4 years to teach myself a profession with an estimated 99% failure rate post-HFT? Explain how a near 100% failure rate is a “set up”? Every algo running is coded specifically to fuck retail traders. I guess we should all apply at Kohl’s and give the ‘liquidity providers’ that served you so well last week even more dominance.
Was going to waste time bitch slapping the troll but looks like I'll just say thanks and buy you a cheeseburger...thats more productive
I see more of a PCP binge of epic proportions downhill and a casual walk uphill. Volume picks up south and drops off north. Guess we shall find out soon enough. Good luck buddy!
Same to you Saints...hoping to get another shot at Crude...let my shares get called away last Friday...was a dumbass and didn't buy back the 13.50 cover call at $0.04 Wendsday, wound up closing deep in the money...won't complain though made money, but whoever bough that call made big money...they deserved it cause that was one hell of a ride for them.
Crude right now just broke its lows for the day. At 44.61. THis is one of the key areas where we had full retard liftoff. Interesting to see if it can break below 44 tonight. if it can may head to 42.50 to 42 fairly quick.
$TRIN closed near 5. That kind of 5:1 selling pressure after cash close is sooo unsustainable.
TRIN buy signals ($TRIN>2.5) often give 3-4 handles without much stress - worth watching for.
Good heads up...haven't been looking at it lately...thanks. Wish we could get a huge hive of folks here giving perspectives and insights, we might stand a better chance against the matrix
dbl post
"For What It's Worth" by Buffalo Springfield
There's something happening here
But what it is ain't exactly clear
There's a margin clerk over there
Telling me I got to beware
I think it's time we stop: Children, what's that sound?
Everybody look – the Dow’s going down
There're trend lines being drawn
Nobody’s right, ‘cause everybody’s long
Young chartists tweaking support lines
That now serve as resistance from behind
It's time we raise our stop: Hey, what's that sound?
Everybody look – Dow’s going down
What a field day for the bears
A thousand sheeple caught unaware
It’s stinging longs -- they’re startin’ to whine
As the shorts say “Hooray for our side”
It's time we hit their stops: Hey, what's that sound?
Everybody look – the Dow’s going down
Mass euphoria strikes deep
Into your account it will creep
It starts with your long-only trades
Another decline, a bully takes the candy away
We better check our stops: Hey, what’s that sound?
oh, but you've been waiting to show us that one for awhile. excellent!!!
"Nobody's right, 'cause everybody's long"..... perfect!
Thanks, hope the bears give me a few down weeks to draw down my "bearish parody" inventory, otherwise my hard work may have to wait until Milton Friedman becomes Fed Chair.
I love that video because that dude lifted, at most, 315 pounds (6x 45 pound plates + 45 pound standard olympic bar). What a chump ass pussy. Scrawny little weak fuck. I'm out of shape and I deadlift more than that once a month when I bother going to the gym. I've literally seen dudes deadlift that with 1 hand.
If you ever lifted weights outside of your internet cafe, you'd realize those are 100 pound plates.
Now get back to your 12 oz curls.
Idiot, those are bumper plates, you know, what you dead lift with. Moron. Those are 45 pound plates. I know because I use those exactly same style plates.
I'm impressed
I'm up to 14.9. Guinness draft goes well with bear meat.
I like to chase that with a shot of Jamison...
It was actually quite a bit ~less~ than even 315 Willy... He's got the 'bumpers' on - they make for a good show if one doesn't know any better. He has around 242 actual on that bar...
I think they are 45 pound bumper plates. Someone in the youtube video comments agrees, 315 pound total. Also he drops it like a bitch. I do that shit for reps and follow it down all the way. Dropping weights is for sissies trying to make lots of noise in the gym and act like they are bad asses.
Dear Mr. Willy
Please take this compliment sincerely. I can't speak for most of us here at ZH, but I can take a moment to tell you just how impressive you must be. I have tried to lift weights ever since I was a child with polio, however my best always seemed to fall short of what my alcoholic father expected of me. After the chain saw accident in my early teens left me with one arm and the auto collision which left me paralyzed waist down(I was trying to save my pet skunk), I realized I would never be as strong and magnificent as the wonderful person you most certainly are. I want you to know that if you ever want to tell me/us about the amazing abilities you have in the gymnasium, please don't hesitate. I have nothing but the utmost respect and admiration for you.
/s
Then he tries to double down by biting that barbell lol. Hope he has a good dental plan.
Call bullshit. Almost nobody can lift 630 pounds (315 with one hand).
Yea it was pretty impressive. He's a power lifter and works at the gym.
Whoa there with all the downvotes scrawny weaklings of ZH. I didn't say I could deadlift 315 with one hand. I just saw a dude do it once. In fact, 315 is what I do for reps (5x5). I'm sorry you're all old, fat, and weak. I genuinely am sorry because otherwise you could help me fight off the hordes of foreign invaders flooding into Europe and America. Your spirit seems willing but the flesh is, apparently, soft and impotent.
well..tomorrows another day.
Got that right
Actually - Tomorrow WAS another day
I'm not worried, CNBC is gonna have another 'special' tonight to tell us how this is only a blip and it'll be shiny from now on......
I just started taking their advice again and I'm now living with Jim Cramer and only down 55%.
Does he share his coke stash with you?
Americans dreams of pensions is dying.
They stopped the S&P @ 1913.85. Nice, huh? 1913, with another 13 (8+5) thrown in for good measure.
They stopped the S&P @ 1913.85. Nice, huh? 1913, with another 13 (8+5) thrown in for good measure.
Good post . . . for some reason there are many (she)people out there who still maintain there is nothing to the unusual numbers that have been popping up in the markets over the past couple of weeks (the Dow ending on 15,666 the other day is another good example of this). Anyone that has done any reading about TPTB should know that those clowns are OBSESSED with numerology and sending "signals" to the "useless eaters" through numbers. LaGarde's speech at the beginning of this year with all the references to the number 7 is another example of this.
IMHO the 1913.85 thing was a message that basically said; "Look what we (the Banksters) did on this date and you (the masses) can't do shit about it!/We control of the markets and you can't do shit about it!". i would expect to see more and more of this kind of thing as the turds hit the turbines over the coming weeks.
Thank you.
Like the 666.79 "bottom" on the S&P in March 2009. I think that's exactly where it stopped. I did that from memory.
The funnest job on earth? Tyler's headline writer.
ZH shoots from the hip like a Diogenes on the warpath, cynical and skeptical to the point of becoming paranoid.
Its an unforgiving look, THAT OF ZERO HEDGE, on the great mirage of the invisible handed market which nourished its dreams and now betrays its ideals.
Its a sign of the times if the vengeful bile of the betrayed, like those who see new Rome now fall and shout "that was not what the Republic was all about"...
True, but human nature is a bitch. And you don't contribute to the debate unless you critique what is and propose a viable solution that is CREDIBLE; something which is not Libertarian-anarchical Austrian economics. The libertarians are geopolitically the false noses of AMerican hegemony--as the current debate on the right clearly shows-- not those who want to see the world move to more natural and ecologically sound socio political constructs. The ZH mantra is good at tearing the tinsel curtain of what it understands and what blatantly ISN't, but totally incapable of seeing what the world needs as new paradigm.
When ethics becomes the dirt on which social darwinism pees its hubris then you know that the Nemesis of past geopolitical world order, spawned by that order's very own decay, will be there to shave the heads of the arrogant whose acts defy the logic of reason and historical precedent.
Our civilization is based on simple lessons : fact, reason and free will that does not hide its premise under the carpet, rather enjoys debate and decisions which can be rectified if the premise is false as proven by the course of events; not the course of dogmatic dictat or hubristic decree.
The current neo-liberal age has to come to an end to save the planet.
And ZH, all the while accepting the premise, is blind to its sense of impetus. Its not more market rule and retinkered capitalism. Its more a shared economy that puts social values and ecology at the heart of innovative re-engineering that transforms the global economy. The arrow points clearly to the problems of this age and denial is a cardinal political sin.
The economy is a TOOL, humanity is the goal. Humanity of course is a concept that still has to be clearly defined. Its a challenge that cannot be avoided.
If only we had some angelic dear leader to show us the path from our evil capitalism. Can you bring Stalin back? Pretty please?
people who are born in a republic with a state of law deserve the leaders they get.
After all, they have PAID with the blood of their ancestors to get where they are and cannot avoid the responsibility of electing those who come closest to being honest amongst the elites of each generation. Or they lose all.
Don't flunk out; Stalin was the son of populist vomit.
Are you complacent in your vomit and lack of being an activist? Thats how we get Stalin.
If you still feel capitalism is truly productive you have the choice of making it come true.
But it can't be at the expense of the people.
Flunk and you'll get dunked by the sons of Oligarchy. That slam dunk is now getting real in First World, something that third world has already experienced at the hands of our elected.
Democracy at home tyranny abroad is a state where the frontier eventually vanishes.
And no amount of walls, north south east or west, can solve the problem as the beast is WIthIN.
I've got a baaaad feeling about this.
asia (subprime) is contained
http://www.cnbc.com/2015/09/01/the-bull-market-is-over-louise-yamada.html
The bull market is over: Louise Yamada
The market turmoil continued Tuesday as weak data out of China pushed all major U.S. indices down more than 2 percent. The S&P 500, Dow Jones industrial average and Nasdaq composite have now fallen a respective 6.5, 9.5 and 1 percent year to date, and according to one renown technician, the move may have signaled the end of one of the longest-running bull markets in history.
Looking at a chart of the S&P 500, Louise Yamada noted that momentum has been declining for four months, which by her work, is a "classic" sell signal.
"This is suggesting to me that we are looking at a bear market," said Yamada said Tuesday on CNBC's "Futures Now." Yamada noted that the last two times the market saw a similar shift in momentum were in January 2008 and June 2000.
At this point, the S&P 500 is already 10 percent from its May all-time high, but for Yamada, it's about to get a lot worse. "We could certainly see the S&P test its 2009 uptrend at 1,800," said the founder of Louise Yamada Technical Research Advisors.
"If the 1,800 level were to be breached, I think we could go all the way back toward 1,600 which is the breakout point through which the market moved in 2013," she continued. "In a normal technical concept, it's nothing more than a pullback to the breakout, but it would be a 24 percent decline [from the peak], which would hurt if people didn't protect themselves."
Yamada doesn't see the sharp selling coming in one swift move. Instead, she believes the market could see bounces and the overall decline will happen over the course of a number of weeks to months.
In the meantime, Yamada has a simple message for investors: Tread carefully.
"Lighten positions in stocks that are beginning to become fragile."
Good thing I went all cash last month!
Blood on the streets today... hold on to your chairs gents.. its 7 year shemitah correction time
Yep, I cashed out my 401k and it's sleeping like a baby, all safe and warm.
have you reported it to your local police? They need to make sure it stays safe for you.
My 6 figure portfolio lost exactly $1.38 today thanks to TZA. Of course I've been mostly in cash...for years.
<-- BTFD will work this time.
<-- BTFD won't work this time.
(Short term, as in by the end of the week or earler.)
Actually....trading TZA has been awesome.
So when does gold get to come out of closet? Right now its being very faggish.
No bid the dip
"Tomorrow's gonna be yuge" -Donald Rickles Trump.
Has Anything Changed? Can we expect a different outcome, if we allow unscrupulous men and psycopaths to run the global financial system?
2300 Years Ago - A Greek Philosopher Said These Words ...
----------------------------------------------------------------
The Unscrupulous Man will go and borrow more money from a creditor than he can pay back. When going to the market, he visits the butcher and reminds him of some past service once given. Then the Unscrupulous Man helps himself to some meat, and a soup-bone also - if he can get it. And if not, he will snatch a piece of tripe and go off laughing.
Theophrastus, Greek Philosopher, 371-287 BC
APOILCALYPSE - Part Deux.
to be followed by apocalypse Dow,maybe they just take Chevron and Exxon Mobil out of the index now to spare them the trouble later
- CVX
-XOM
+ NFLX
+ AMZN
"Dow closes 78 points off its low" -CNBC. Smile everybody.
The spin only works if people desperately want to believe. It's like when a company beats expectations. If the expectations are shit to begin with, it had better be a really big beat for it to mean anything, but the cocksuckers will still spin it anyway. If you wrap your car around a tree, total it, break three ribs and your collar bone, but your iPad that was sitting on your passenger seat somehow miraculously comes through it without a scratch, do you really want to tell people that you had a good day because its survival was beating expectations? That seems to be the kind of world we're living in.
I'll double the price and give you half off.
What a deal!!!
japanese futures -1024.5 or 5.44 per cent,BOJ to print at' Im giving her all she's got Jim' speed today
Nothing has changed to account for todays moves.
Nothing changed to account for the recent rallies on the markets.
Bottom line is that economy everywhere is banjaxed.
Let the indices reflect this.
Today was fun watching CNBC.
I like.
http://www.denk-bubbles.com/bob
Am I missing something, or did today's close undercut the October 2014 close? (16117 vs today 16058)
This sucker's going down.
I'm guessing we may just hang out in this range until the Fed meeting. 15500-16500. Oil probably tests below $40 again. No reason to gloat like the CNBC blonde last week with her hashtags. #solongcorrection #nope
Unless asia continues to crater. The Korea numbers last night were ugly and the trend is not looking good.
in the words of Bubbles 'Fuck this is GREASY!'
Time to raise rates obviously, whoopee!! LOL these clowns have bupkis.
The "market" trades down a bit, barely even selling off over 10%, over the past two weeks and the paid shills are losing their heads and shouting the "markets are in turmoil".
To the CNBS Cheerleading Crew:
Ha ha ha, you ain't seen shit yet there Sunshine. Before this fucker blows it's wad you will be eating Alpo out of a can, if you're lucky.
End the Fed.
Pretty sure they won't accept anything less than Cesar.
http://www.kitco.com/news/2015-09-01/The-U-S-Fed-s-Looming-Rate-Hike-Nee...
The U.S. Fed Needs To Raise Rates For Possible QE4
By Daniela Cambone of Kitco News
Tuesday September 01, 2015 09:45
NEW YORK ( Kitco News) -- As markets digest the recent central bank meeting in Jackson Hole, Wyoming, one market participant says that the U.S. Federal Reserve has ulterior motives to push up an interest rate hike.
Keith Fitz-Gerald, chief investment strategist for moneymorning.com, noted that the central bank needs to raise rates to allow for a potential fourth round of quantitative easing. 'The Fed wants desperately to raise rates not because there is inflation but in the event they have to do QE4,' he said in an interview with Kitco News. The central bank has held short-term rates near zero since December 2008; the impending end of that era may be around the corner."
Fitz-Gerald acknowledged that it is counterintuitive to think they would raise rates to print money, but said it is the only option the central bank has.
'When you take off the rose-colored glasses and you get past the illusion of prosperity they try and create, it makes sense,' Fitz-Gerald said. 'Right now we have a zero interest rate policy -- the Fed can't do anything else if it has to -- what that tells me is that things are so difficult that they may have to resort to more money printing down-the-line and raising rates gives them the opportunity to do that.'
After months of speculation surrounding a September rate hike, the Jackson Hole Symposium showed a more concrete direction for an interest rate hike. The consensus from the gathering of world central bankers is that the Fed should begin tightening monetary policy with rate hikes as early as mid-September. Fed Vice Chair, Stanley Fisher, added to the speculation by noting that the Fed wouldn't need to see inflation pick up to justify a rate hike.
As for the September timing, Fitz-Gerald said it would be 'totally irresponsible.' Citing a weak China, a downbeat consumer, lackluster data and an America public that has been 'absolutely eviscerated,' Fitz-Gerald highlighted this is the wrong time to raise rates. 'They missed the window yet again,' he said.
On the topic of gold, Fitz-Gerald said investors should be looking at the yellow metal. Gold is off the 6-week high it hit in August on concerns over China's weak economy and stock market volatility, but Fitz-Gerald said investors need it in their portfolios. "No investor today can afford to be without gold - gold is not necessarily an inflation protector like everybody thinks it is but definitely correlated to interest rates," he said.
Funny Asshola Obama went on TV to tell everyone to buy stocks but hasn't told his minions when to sell
God I hate that fucking Bernanke
Oil is insane. Not going to use it anymore.
Please vote:
1. Oilpocalypse
2. Oilnado
3. Oilicane
The future ain't looking so good friends ...
http://iamsully.com/?p=14899
hey Ive heard Swiss acounts pay a great negative rate on your deposits.
It's only Sept 1
And....... It's 8PM NYT, Tokyo is open, and the Boj is throwing money at the e-mini (or somewhere, but it's getting sipohoned there). I wonder if the e-mini is used as a hedge for whatever is happening in Tokyo? ie part of a pairs trade. Could that explain that pop at the Tokyo open after a scary dismal 24 hours in the global markets?
I have a question. When the DJIA closes at or below 8k will the elite pricks continue to smile and golf clap during the closing thirty seconds.. Just curious.