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Is Yellen About To Shock Everyone: Goldman Says The "Fed Should Think About Easing"
What a difference a little over a year makes.
Back in January 2014, just after the Fed announced the tapering of QE (because, you know, the "date-dependent" Fed would never be tapering if the economy wasn't improving, right?) the propaganda machine went into overdrive, with Wall Street's pet economist, not to mention the NY Fed's key "outside advisor", Goldman Jan Hatzius preaching that the long awaited recovery had finally arrived.
This is how the tabloid pseudo-finance website Business Insider characterized his call at the time: "Goldman's top economist, Jan Hatzius, just said the words we've been wanting to hear for five years. He believes the economy is now growing at an above-trend pace."
What exactly did he say? This:
Despite the 1% drop in real GDP in the first quarter, we believe that the US economy is now growing at an above-trend pace. The best way to see this is via our current activity indicator (CAI), which grew at an annualized rate of 3.4% in May, similar to the average of the prior two months. Although an estimated ½ percentage point of this sequential growth is due to a bounceback from the weather distortions of the first quarter, even the year-on-year CAI now stands at 2.7%, the fastest pace of the expansion so far and above our estimate of potential growth of 2%-2½%. In our view, the CAI is a far more reliable indicator of economic activity than real GDP because it is more timely, more broadly based, less noisy, and less subject to revision. One key reason why we expect a further pickup in the underlying growth pace to 3%+ is an improvement in the housing sector.
To be sure, the US economy would have literally cratered just a year later after another first quarter debacle was blamed on cold weather, and only a double seasonal adjustment saved what little was left of "growth" purely on the back of an absolute whopper in record inventory accumulation.
Back then, Joseph Wisenthal, then with Business Insider, and currently in charge of Bloomberg's hyperbole division, said "For what it's worth, we agree with Hatzius."
For what it was worth, we disagreed with Hatzius, noting that this would simply be the second time in five years Goldman has jumped the "recovery" shark after its dramatic reversal in December 2010 when as QE 2 was ending, Goldman once again sought to boost wholesale confidence by going fundamentally bullish and saying "This outlook represents a fundamental shift in the thinking that has
governed our forecast for at least the last five years."
Fast forward a little over a year when we learn that Goldman was once again wrong (for what it's worth, naturally Business Insider was too).
First it was in April of 2015 - some 16 months after his "bold" prediction - that the same "above trend growth"-forecasting Hatzius said we "do not have much confidence in the inflation outlook and believe that the right policy would be to put hikes on hold for now."
But... what happened to above trend growth?
Then in the first week of June, Hatzius once again hedged saying "Our forecast remains that the Fed policy committee will hike rates at the September meeting, but ...this remains a close call. There is a strong risk management case for delaying liftoff." In other words, the market determines Fed policy, not the economy, despite the reflexive lies to the opposite.
Then just two weeks later, on June 18, Hatzius having long given up on his "above trend growth" forecast changed his tune again, and now said he expected a December rate hike instead.
"In large part this reflects the fact that seven FOMC participants are now projecting zero or one rate hike this year, a group that we believe includes Fed Chair Janet Yellen.... We had viewed a clear signal for a September hike at the June meeting as close to a necessary condition for the FOMC to actually hike in September, because we did not believe that the FOMC would want to surprise markets on the hawkish side when they raise the funds rate."
Of course, if the economy had grown at an "above trend pace" since his January 2014 call, the Fed would have to be at 1% or higher by now.
Just to make sure nobody is surprised next week when Yellen does not hike and unleashes a massive relief rally, Hatzius added that a September rate hike announcement this Thursday "shouldn't be close", and as we showed previously, unveiled 7 reasons why. Amazing how Goldman's narrative changes with every month.
And then, the humiliation was complete last night when the same Jan Hatzius, having long-forgotten his January 2014 prediction, in a note previewing the US economy in "September and Beyond" had this to say:
In our view, the recent events have largely sealed the case against a rate hike next week. Fed officials have made clear that “data dependent” policy refers to incoming economic news as well as factors that could impinge on the outlook—including changes in financial conditions.... The news on wage and price inflation, however, has been softer than generally expected a few months ago.... most of the inflation shortfall relative to the Fed’s 2% target is due to more persistent factors, including continued labor market slack.
...
We expect modest downward revisions to GDP growth in 2016 and 2017 in light of tighter financial conditions.
Hm... maybe Jan meant below-trend growth?
And here we get to the punchline, because Goldman which originally expected a September rate hike, then pushed it to December in June, is now fairly confident that there may not be a 2015 rate hike at all!
Perhaps the biggest question for next week’s meeting will be whether Chair Yellen continues to signal rate hikes later this year, or whether she hints at a lengthier delay.
We see two arguments for why the first rate hike may be delayed beyond December. First, the Taylor rules above do not take into account risk management considerations. We have long seen a persuasive case for delaying rate increases until 2016 on risk management grounds, and recent communication suggests this may be weighing more heavily on Fed officials’ thinking.
That's that phrase again: just like in June, by "risk management" Hatzius simply means not to crash the market.
And then, now that a September rate hike has been made painfully clear will not be coming (trade accordingly), Goldman pulls out a whopper of an Easter egg:
Although the purpose of raising the funds rate is to tighten financial conditions, markets have already done much of the Fed’s “dirty work.” Indeed, our latest analysis suggests that the recent tightening—if maintained going forward—would be equivalent to around three hikes in the funds rate. Similarly, the GSFCI is now much too tight relative to our “FCI Taylor Rule”, which compares the current level of financial conditions with the “appropriate” level based on inflation and job market slack (Exhibit 11). The easiest way to ease financial conditions—and thereby better align the stance of policy with the dual mandate objectives—would be to signal a later liftoff than markets currently expect.
* * *
we may hear a bit more about risk management in the press conference, and Chair Yellen may make it clear that financial conditions need to improve for the committee to actually hike this year.
The punchline comes from Goldman's Financial Conditions Index which is now screaming for QE4 or NIRP, pick one:
And there you have it: the "above trend growth" is dead and buried - because 24 months after Goldman's prediction that the economy is now roaring, Goldman admits the Fed can't hike even 25 bps.
Which is why one can, and should, ignore all Goldman forecasts about the economy.
What one should most certainly pay attention to, however, is what Goldman says the Fed will do - you know, for "risk management" purposes - because as we have shown countless times in the past, Goldman runs the Fed.
As such, forget a September rate hike. Or perhaps Yellen will listen too carefully to Hatzius and instead of a rate hike, shock absolutely everyone, and instead of a rate hike the Fed will join the ECB, SNB and Riksbank in the twilight zone of negative rates. That, or QE4.
And why not: after both the Swiss National Bank and the Chinese central bank crushed investors who thought the banks would never surprise them, why should the Fed not complete the 2015 trifecta of central bank turmoil? After all, the money printers are already running on "faith" and credibility fumes. Might as well go out with a bang.
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See see see, I todja they read The Hedge.
For The 'Locks to be talking about easing, they must be pretty worried about sumptin'.
That or figuring out a way for MOAR free money; and a case of Dinty Moore Corned Beef Hash
Aside form that it's clear there's a lot of yadda yadda yada and quite a number of Hmmmmm's still to be posed, floated, hinted about, retracted, redacted and back stopped with a condition here or there, just making sure the Muppets maintain the ever lasting 17th Circle of Hell's River of Commissions and Flaming Blood.
Know what I really like about this business? The consistency. Damned comforting it is.
Exactly Knuks.
There's a shortage of rice paper for the "shadow puppet theatre". [rice paper absorbs just the right amount of light behind the curtain, to give the illusionallusion that the wood puppet is real.
She's pregnant! Didn't see that coming.
lol! That was funny. ;-)
That was just plain wrong on so many levels. It was still funny.
No more Chinese buying...
We'll watch the reverse repo rates, and failures to deliver soar, courtesy of U of Z (university of Zerohedge).
Somebody oughta make a hoodie
With the crackdown on transferring loot out of China, there's also a substantial slowing in the RE market.
All you white people think about is money. You were all made in a lab by Satan himself. Soon you will all be broke. Ha, ha, ha. Serves you right.
So the moneychangers want to print themselves even more money? Really? Well poke me in the anus and call me Ben Finkenbinder.....
The problem with analyzing GS statements is -- you never know if they are showing their cards, or exercising reverse psychology, or double reverse, or triple reverse, or just spinning the wheel.
If they are trying to sell off a lot of risk assets ahead of a Fed rate hike, would they perhaps tell everyone else to not worry, buy happy?
we DO know that the squid is talkin' to gain some advantage for dem selves
Sounds to me like they have Gartman on retainer
Translation: we're fucked but we're going to hide it from the sheep as long as possible, because the sheep just LOVE big surprises......
I know I'm not going to get my money into Scottrade in time. It is always just my luck that I miss out on BTFD.
Who cares. Russia about to shoot down NATO planes.
Moscow is sending an advanced anti-aircraft missile system to Syria, two Western officials and a Russian source said, as part of what the West believes is stepped-up military support for embattled President Bashar al-Assad.
The Western officials said the SA-22 system would be operated by Russian troops, rather than Syrians. The system was on its way to Syria but had not yet arrived.
http://www.reuters.com/article/2015/09/11/us-mideast-crisis-syria-arms-i...
I was hoping to see a full roll out of the mysterious MAGREV, or whatever the super weapon is called. Its only fun until a plane gets shot down...
War bonds will save us. We can get Caitlyn to do bond drives . Forget those 19 dalla a month to save the hegees I mean kitty's. it's for the childens, and red white and blue
Still waiting for "liftoff" in an economy that exploded on the launch pad a long time ago.
Joe Biden's hair plugs are growing faster than his predicted Green Shoots.
(Hah ha ha ha ... and the Democrats thought Sarah was dimwitted)
and think, some Dems see ol' Hairplugs as their election savior. How sad is it that either Clinton or this half-wit will most likely be the next president...?
With the Labour Party in the UK going full Karl Marx yesterday, 2016 may be time to start looking for another planet to move to...
After hearing the Chosenite media SAY Sarah Palin was stupid, even the most intelligent Democrats (82 IQ tops) began to believe it....just repeat the lie often enough
How much gin do you have to drink to make sense of this post?
Gin is a good start. Add some Everclear and a shot of engine starting fluid (without the top cylinder lubricant), throw in some "party favorites" and that might just work. Honestly, that was hard to read, even not drunk.
Where's DOC?
I'll bet he's just as completely pissed off at the endless Fed. derived { financial jingoisms} being defecating on the financial world, that he's gone into protection mode.
The Tylers were 110.00% correct when they said, "Eventually central banks will lose all credibility."
Even if the Fed. lifts rates, the carnage in the emerging markets, is just getting started.
Brazil isn't Venezuela. Brazil is in a full "tail spin" fiscally and politically.
pump and dump
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HistoryI like Omega Man. Not you YC ???
Dude's harsh, yet funny and entertaining at the same time. 4Chan anyone?
/b/ - RandomNote: "ZOMG NONE!!!1" applies to moderators as well.
Would I be sucking up, if I said- "I like you Seasmoke?"
Only if he took a dump on you first, like Tyler did.
I rather like Yen Cross! He's been around a while and usually has something worthwhile to say.
Those in the club know what the Fed is going to do. Friends of the club will get the leak. Muppets get to toss a coin and hope they win. I'm not betting on this one. The fuckers could hike just to see what happens. If GS is either always wrong or lying, expect a hike this month? Algo madness either way.
If there is a hike this month its time to batten down the hatches: financial hara-kiri has commenced.
Problem is we don't have a viable scapegoat yet, we can't have the Fed assuming responsibility for imploding the world economy now can we?
They could probably get away with blaming China. Some epiphany that China's GDP is a farce and "we just now figured it out."
I'm waiting for "Chinese Russian Muslim Syrian ISIS hackers erased all fianancial data today..."
Quote from Farcebook Aug 24: "Damn China just screwed me out of $20k today....."
TPTB always have a scapegoat in China.
charts and trends do not matter
I could swear we have seen this scenario before... Must be drunk or something. They have already "tested" the waters and their cronies have made a killing off the buying opportunities, so now they will simply do what they do best: the same thing they did before -- easy money -- then catch up with the can again and start all over.
It's easy cause Einstein gave us all we need to divine the future. Remember what he said about madness?
If the Fed does do QE, what would it buy? Aren't there an insufficient amount of bonds to purchase given the lower budget deficits? Or would it buy the treasuries the foreign markets are selling (ie. China)?
They can buy assets with QE. The more toxic the merrier.
Not just paper assets, real estate, bankrupt oil drillers, miners, corporate ownership, EVERYTHING. That is the goal. Kill every single asset price, while slowly buying everything with useless paper. That is the reset. Individuals will owe everything and own nothing. The banks rule the world, hiring one half of the working class to kill the other half.
Very true.
In 5 years we ought to be seeing the Fed opening Thrift Stores around the country. Selling desks, lamps, swivel chairs, computer stuff.
Yours for a song. And it all goes to a good cause.
Pin money for the wives of the Fed Governors.
They could buy Detroit.
Okay. I'm dumb. I confess .
In the compilation of the U.S. GDP since 2009, have the hundreds of billions (or trillions) of dollars injected into the economy by the Fed, been deducted from the tally of all the goods and services?
Nobody ever told me. :o (
Somebody help me. Please.
Never went into economy. The "TBTJ" control fraud operators collected interest in excess reserves regime starving the real economy, abusing WE flow to extract ZERO sum trading profits, socialized future losses on RMBS sales and exited LT UST certain to lose value over their duration. They raped and ravaged the people yet again.
When the Fed buys bonds from a member bank, it pays for them by electronically crediting their account in the Federal Reserve System.
You seem to be saying that QE bail out money is not fungible with the cash assets of the bank.
This article from the NYT July 7, 2009 suggests otherwise.
I thank you for your reply, but"the tabloid pseudo-finance website Business Inside"
Glad to hear that someone else thinks this is true. B.I., economically Keynesian, politically progressive.
Janet...I know there are so many confusing voices out there offering their sage advice backed up by charts and ecomanical..I mean economic reasoning. You need to depend on your inhouse staff of PhD advisors...say that again Janet.. did I hear you correctly... PhD stands for "Push Higher Debt"..sounds about right.
If you ever want an honest opinion, ask a really old person, or a little kid. Everyone else is carrying someone else's water.
There's (2) lizards that literally annhilate any form of insect, every morning , in part of my garden.
These guys perch on one of my fruit trees, like a couple of male lions, with their harem.
These guys are like Heckle & Jeckle, until it's feeding time. They snap at each-other and fight over the females.
The funny thing is, when the big female shows up, the 2 males run like little kittens.
Bang da hoe, and don't get eaten?
I have tons of baby lizards running around, like newly minted equity market brokers.
Raise Rates Mr. Yellen. I dare you. Another QE Mr. Yellen. I dare you.
The Fed today announced that they are quitting the banking business and opening up a chain of ice cream parlors....
GS has screwed with their own customers in the past. No reason to see why they wont screw the public saying no rate hike yet are short everything that isnt nailed down.
One can simply reflect on what "Mr. Yellen" said in 2010, and ponder what is likely to come very soon......
http://www.reuters.com/article/2010/02/22/usa-fed-yellen-idUSN2222725320...
zimbamwe
Let me be clear, there is no Fed equity market put... William C. Dudley
FU$K Goldman! Goldman only cares about Goldman. Anything they say or do is for Goldman.
More easing? C'mon Hatzius, you mean more market heroin!
Crash now or crash later, the junkie always winds up in the hospital or dead.
But if you OD now when some peopel care you mitigate the death risk somewhat, hospitals functioning and all.
Leave it to long, close the hospitals because you are broke and the risk of death trends to 100%.
on a long enough timeline ...
Actually what this indicates is an upcoming war.
1) This allows the FED to raise interest rates a little.
2) Then they start a war which will force them to reduce interest rates.
3) This allows the FED to hold their head marginally higher than before. Sort of like a child mollester feeling good at a criminal convention....
Aha, crazy Joe. Like the guy but as an economical analyst he's worthless.
Does Goldman add any value to the world? I cannot think of any.
Doing god's work. Often in mysterious ways.
So let me get this straight. The Fed has no room to move on interest rates except if they bring in NIRP. If they bring in NIRP cash will flow out of the financial system like a tsunami creating the very liquidity crisis they are seeking to avoid. There are no more bonds for sale, unless of course they intend to 'buy' Apple 50 years that are yielding an incredible 1.5%. I guess they could buy corporates but then the corporations are busy selling those to the sheep who can't seem to get enough of corporate debt despite the fact that the said corporations are cannabalizing themselves by selling debt that is only being used for stock buybacks thereby ensuring the future collapse of said corporations.
All in all, basically, they are totally screwed.
The US /JPN / EU( ex Germany ) have borrowed so much
that even the amounts required to be help by banks
/ pension / insurance company's ect for regulatory reasons
( ie what can't be QEd is too large .
So they can't cut tax / increase govt spending to stimulate economy .
Rates are zero but the debt is satiating investment / growth .
Russia / China know this so there is risk they push US/ Japn over the
edge with war. Knowing the cost will bxnkrupt US/ Jpn quickly
and shift balance of power
Not until the fat lady (Janet Yellen) sings.
Raising rates is almost an impossibility. Billions are tied up in real estate depending on extremely low rates. For these "investors" developers and speculators, it would become promptly painful to hold onto RE where they are under water as rates rise and their debt service soars.
Moar malinvestment. The carry costs for undeveloped land is minimal due to free money. I see it all around.
If they NIRP or announce another $asset purchase program, you'll know that, a) the Fed knows precisely what is going on out there in the real world, and b) palpable fear has set in...
Talk about raising rates is like scaring someone with the hiccups.
The person with the hiccups is so relieved that you're not Hannibal Lecter he stops hiccuping, while the American Investor, when he realizes rates aren't going up, bids the DJIA up another 1500 points.
Put that fugly whore in Gitmo, next to fugly HRC cunt
How close to the election does Yellen want to wait before pulling the pin?
The Feral Reserve will protect Obozo at all costs.
If a crash can be avoided until after the next election, then they will do whatever it takes (QE infinity).
Can't have a crash on the Messiah's watch.
Leave a mess for the next administration to make the hard political choices to clean up (and get the blame for all the pain that comes with that).
By administration, you of course mean the FED, right?
The Financial administration of the Banksters is all that matters. It is all that transends the political blatherings
SO TO DECODE YOUR STORY - 2 YEARS AGO GS SAYS "ABOVE TREND GROWTH" AND "BELOW GROWTH OCCURRED.
NOW THEY SAY - "MONETARY LOOSENING MUST OCCUR." WHICH OF COURSE MEANS THE FED WILL "TIGHTEN". THE OPPOSITE WILL ONCE AGAIN OCCUR.
THE MUPPET EXPRESS IS LEAVING THE STATION!
They could do this ...
Hike rates +1% and print 160 billion MOM where the rate hike is in effect cancelled by MOOOOOOOOOORE QE.
Ha,ha ... would laugh my socks off, but you know something ... they just might.
1oz Silver American Eagle €13 @ EurGold
https://www.eurgold.eu/silver/american-eagle-1oz-silver-coin-1-dollar-le...
I am tired of this. I am not sure why they are not tired of this. We all know that its gonna it the fan - yeah the feds and banksters know too. The longer we wait, the more crap is building up to hit the fan - the nastier things will get. Simple yet true analogy.
Yellen will raise AND have the plunge protection team out buying everything... You can have your cake and eat it!
I think they have factored in by now that the market will fall NO MATTER WHEN THEY RAISE .. and markets are HIGH.. so why not raise it. Raising them when the markets is low is the problem. markets are still high overall.
They will raise rates by a quater, and have he plunge protection team buying. THey figure its already factored in to the markets and have always known that the market will fall a little on this event....... Looking for FED plung protecton team to buy the market into the rates decision, bid it up and then buy after it too.
We long passed the point of return. Raise rates or don't raise rates. Employ QE or don't employ QE. It doesn't matter we are certainly headed for default and some very ugly times for the Dollar and USTs. Both parties will sign off on raising the debt ceiling since we just reached the last ceiling. Doesn't matter that our GDP is approx 16 Trillion and our Debt is over 18 Trillion, doesn't matter that we are third after Japan and Greece in terms of debt to GDP. There is no political will, nor will among the population in general to do what it would take to fix our monumental crisis. Keep buying stocks and then when they crash, and they will, far worse than '08 what will you do? The rich own land, resources and production and don't care as much as you do about the common stock shares they've been selling over the last several months. BTW these socialists will take your 401Ks and then hand you an IOU when things get really ugly. Keep putting your faith in Socialism, it has always worked out well in the past for peoples in the past that have right?
We now have 2 distinct economies. Ours and the bankers'. When push comes to shove which do you think will get all the money in the world in order not to upset the status quo?
The Fed will announce a nationwide public works program funded with the "profits" that they ordinarily would have returned to the U.S. Treasury. Beginning September 30th, they will provide a package of grants and interest-free non-amortizing loans directly to states and qualifying municipalities to construct roads, bridges, schools, city halls, police stations, firehouses, recreation centers, DPW garages, and the like. The fed's legal counsel has determined that no Congressional approval is required owing to the "exigent circumstances" clause of the charter. Extending over several fiscal years, this program will eventually exceed in size and scope, the so-called "Pelosi Porkulus" economic stimulus program. The key to the success will be its immediate implementation and relative lack of traditional bureaucracy that normally entails when such programs flow through the executive banch of the government. Benefits should begin to be felt by architectural and civil engineering firms before the end of the 4th quarter.
u a writer for "House of Cards?" ;-)
The Fed will also announce that it will purchase Railway Infrastructure Program (RIP) bonds from the National Railroad Passenger Corporation and other qualifying railroads. This program will finance the immediate construction of a nationwide program of High-Speed Railways (HSR) serving both passengers and shippers. The bonds will be at below-market interest rates and will also include a deferred payment, non-amortizing feature, thereby enabling railways to make these needed infrastructure improvements while creating no increase in their existing debt service levels for the first 25 years. Due to exigent circumstances, the construction program will be exempt from normal environmental impact study requirements. A blanket "Finding of No Significant Impact" on the environment, not subject to judicial review, will be issued by the Board of Governors. Therefore, construction activity will begin nearly immediately upon purchase of the bonds by the FOMC. Upon completion of the program, all mainline tracking in the continental United States will be comprised of continuous welded rail on improved roadbed with concrete ties and Positive Train Control in-cab signal systems. All passenger trains on a nationwide basis will be able to achieve speeds of 110 miles per hour, an increase from current maximum speeds of 59, 69, and 79 miles per hour on most segments of railway today. Freight train speed will be increased to a maximum of 80 miles per hour on all mainlines, except where limited by track geometry.
Warren Buffett approves, as he mops up senility driven droplets of Cherry Coke off his 1000 $/shirt.
Typical Socialists, they love their trains. Trains are great for freight but a joke for individual transport. That train non-sense above is yet another example of crony capitalism. Case in point, Buffet's large position in BNSF. This line dominates the tanker market, sends the bulk of oil from Canada and Dakotas south to Houston refineries. Look up Buffet's pro Obama positions on global warming, death taxes and more quotes showing support for Obama. Also look at his organizations and companies donations to the Obama elections and now Obama's foundation. In return no Keystone pipeline.
gs already knows what's going to happen. they are loading the crooked dice now. when they know how many bets on each side best suits them, they will activate the magnets and--booyaa--they win again. after all you have seen with your own eyes do you think they dont know!? dont be long or short. your chances are better in vegas. and, you will get a free drink. if you bet enough some pit boss will get you a free bj. you wont get that from etrade.
anecdote: a kid was arrested in aspen, co for stealing $200 "and is being held at the county jail." the town has many that robbed the taxpayer of billions. they got a 10mil house, a bonus, and a pat on the back for "saving the economy." Have you heard anything more dispicable in your life? the seeds of domestic terrorism are sown.
i have a t shirt that was issued by the us dept of state. i threw it away. im ashamed to wear it.
Does everyone know what QE4 stands for? Maybe not what you think. Administration insiders already know.
QE4 is short for "QE-4-votes" AKA "QE-for-votes".
That's right. The next QE will be "for the votes". Ahem, sorry. I meant to say, the next QE will be "for the people". Yeah, that's the ticket. They've force-fed the banksters with so much free cash they're almost ready to explode like a Monty Python character.
So now, the federal reserve will announce a cooperative venture with Obama and the fascist-commies... I mean democrats... that the central bank will create sufficient fiat, fake, fraud, fiction, fantasy, fractional-reserve debt-notes to shower every voter... I mean taxpayer... with $10,000. You can give yourself a $10,000 tax credit on your federal tax return, and get a huge refund.
They'll just add it to the tab. You know, the $19 trillion tab that pretends the other $200 trillion in unfunded liabilities doesn't count. What's another ten or twenty trillion between fiends? Definitely not gonna be paid back anyway.
Yes, QE4... short for QE-for-votes. I mean QE-for-taxpayers.
Yeah, that's the ticket. The democrat ticket, that is.
Save the economy it will. They may even get Disney to create a Yoda voice-over saying exactly those words, "save the economy, it will". Huge banners at the democratic convention will carry that slogan. Republicans might have even bigger banners with the same slogan, in a futile attempt to get some votes too.
The fascist-commies... I mean democrats... will get elected in droves.
Hell, they've broken every other law. Why not?
Duplicate post.
Triplicate post.. Last time I do this on my cell phone on a 3G tower.
The asaumption so far has been that the Fed is acting in the bbest interests of the nation.. The breakdown seems to be largely along political lines with the "we are in a recovery" Obamaite progressives expecting a rate hike ans the "this is just a continuing crapstorm" folks thinking the fed is in a place that they cannot raise rates without crashing the housing and stock.markets...
...but what if that ia the goal?. What if the rabbit hole is deeper than anyone realizes and that the goals of president central planner and his pet fed chair is to raise rates to cause a crash?
What better way to deal a death blow to capitalism than a stock market crash?. And what better way to turn us into a nation of renters than another housing crash?. After all, policies like forced neighborhood integration are so much easier if a single corporation owns a hundred rental homes than if a hundred voters own one.