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U.S. is now Japan
Well, the "most anticipated" September FOMC meeting has come and gone, and no hike yet again. After the release of the FOMC statement, SPX rallied to a high of 2020, then sold down 30 handles into the close, and another -28 handles at today's open. Why? Well maybe people have finally realized the Fed is absolutely clueless, and that they have been completely misleading.
Two major surprises happened yesterday. First was the introduction of a negative dot on the FOMC's infamous dot plot, despite the "Fed hike anytime now" mantra. Second, was when Reuters reporter Ann Saphir asked Yellen about never lifting off from zero.
Fed Dot Plot from Yesterday's Statement. After talking about lifting off since 2009, and especially all the talk this year alone, "prepping markets for a lift-off", we now have a negative dot on the dot plot.
The second major surprise was the exchange between Reuter's Saphir and Yellen:
Ann Saphir: "say the U.S. economy has been growing, are you worried with the global interconnectedness, the low inflation globally.... that you may never escape from this zero lower bound?"
Yellen: "I would be very surprised if that's the case. That is not the way I see the outlook, or the way the commitee sees the outlook. Can I completely rule it out? I cannot completely rule it out. Really that's an extreme downside risk that in no way in the center of my outlook"
Well, as I mentioned multiple times over the years, my biggest fear was that we are heading in the way of Japan, where they have had ZIRP for over 15 years now. We are now 7 years into a ZIRP policy, and the Fed cannot even move a quarter of a percent. What does that say, when after 7 years, our economy cannot handle a lift off by only .25%, and that now the central planning academics are now talking negative rates and cannot rule out never leaving ZIRP land? Still have faith in the same people who created the last crisis and are now helping us "recover"?
Yesterdays Presser: Fast forward to the 39:50 mark
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My friend 'Borisalotofkrap' is now, I think, looking at ways to get 'comfort women' who live in CONUS (for cheap).
BORIS: If woman named 'Rodham' or 'Fiorina' or 'Palin' or 'Yellen' service offers her woman parts, (it is) best if Russian man stay away because of chance of disease contracting Chlamydia. Skin of Boris Penis is better than shank with skank (to Boris, if Boris knows arts of preseveration of self).
I sincerely hope that the Japenese people don't allow themselves to be fucked over (again).
NO, The U.S is NOT 'becoming' Japan.
Japan is NOW like a 1950's or 1930's U.S., in fact (as far as public attitudes regarding the 'endless war of the worlds').
Japan is being forced by their 'politicians' and Rothschild (banking division) handlers into a position of emulating what the U.S. has already become. WOW, that sounds 'strange', doesn't it?
http://libertyblitzkrieg.com/2015/09/17/video-of-the-day-brawl-breaks-ou...
Prime Minister Shinso Abe, it seems, is pushing for an old 'Tripartied pact' alliance thing. "The enemy of my enemy is my friend". 'A coalition of the willing'. 'An attack on ANY of the members will be interpreted as an attack on ALL of the members'. ABE is an OWNED DICKWEED.
(Incidentally, the song 'Whip It' by the band DEVO, was a 'Duel Entuandre' ['DOUBLE MEANING']. Freud said that 'sometimes a banana is just a banana', but Ann Coulter says that bananas are more dangerous than the Fukushima radiation n-bomb that is OBVIOUSLY killing the pacific ocean RIGHT NOW. The 'leaders' of Japan are now choosing sides in this last, greatest war. I don't speak French, but my mother was from there. The 'Channel Tunnel' [or, 'Chunnel'} originates in Lille, France. does anyone know what brand of car Maggie Thatcher drives in personal ownership? Is it a Toyota, or a Honda? It SURE AS HELL isn't a fucking 'LAND ROVER'.)
Coming to your neighborhood:
http://cassad.net/tv/videos/13957/
This has been a long time coming...
The Vapors - Turning Japanese 1980
"Turning Japanese" as written by and David Fenton....
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I've got your picture
Of me and you
You wrote "I love you"
I love you too
I sit there staring and there's nothing else to do
Oh it's in color
Your hair is brown
Your eyes are hazel
And soft as clouds
I often kiss you when there's no one else around
I've got your picture, I've got your picture
I'd like a million of you over myself
I asked the doctor to take your picture
So I can look at you from inside as well
You've got me turning up and turning down and turning in and turning 'round
I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
I've got your picture, I've got your picture
I'd like a million of them over myself
I want the doctor to take your picture
So I can look at you from inside as well
You've got me turning up and turning down and turning in and turning 'round
I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
No sex, no drugs, no wine, no women
No fun, no sin, no you, no wonder it's dark
Everyone around me is a total stranger
Everyone avoids me like a cyclone ranger
Everyone
That's why I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
I'm turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
Turning Japanese I think I'm turning Japanese I really think so
(Think so think so think so)
Turning Japanese I think I'm turning Japanese I really think so
Songwriter David Fenton explains: "Turning Japanese is all the clichés about angst and youth and turning into something you didn't expect to."[3]
...
Guitarist Rob Kemp went on to say, "It's a love song about somebody who had lost their girlfriend and was going slowly crazy, turning Japanese is just all the cliches of our angst... turning into something you never expected to."
en.m.wikipedia.org
I TOTALLY FORGOT about this aspect!
https://www.youtube.com/watch?v=mgekmOqCFTU&spfreload=10
Omar Sharif, though...
SHARIF don't like it!
https://www.youtube.com/watch?v=bJ9r8LMU9bQ
I could never understand how a bunch of hormone-crazy zit-faced teenage white guys singing a song about jacking off while looking at pornographic magazines could actually become a 'cult classic'. I'll have to thank 'Grazzari's On The Strip' for THIS ONE, I guess. His cousin BIBI is very gratified.
You actually took the time to look up the entire word-thingie song dialogue (on Wikipedia), and did the 'cut-and-paste' thing. WOW. WOW!
One day, I'll regale you about the time I got the opportunity to play 'Pong' on the 'big screen' while waiting to be seated at some swanky Newport Beach fish restaurant, long since out of business (about 30 years ago, when I was still under 18).
BONO fucks BOSTON over (in 2001):
https://www.youtube.com/watch?v=mIt-oml0MLo
Songs about jacking off to porn pics are really, really boring.
Eisenfunk sez: Let us play PONG!
https://www.youtube.com/watch?v=cNAdtkSjSps
The market / economy wants higher rates / lower asset prices
If stock/ property prices fall the yield form dividends / rent will increase
Better for future investors / pension funds.
What a joke the FED / BOJ / ECB are implying that propping up asset prices so yields are close to zero is good for the economy ..
Starving everyone of yield is good
She can't even raise rates 0.25 because maybe stocks fall and someone gets a chance to earn some income.
The bridgwater / gold mans call for no rate rise is I their own interest . Ie with zero rates pension funds / investors have no choice but to look for alternative investments.
Raise rates so people can get safe returns .
Let asset prices fall the small business will get a chance to buy property / plant equipment at reasonable prices.
Higher rates will pull the rug from business that should not be operating and thus reduce supply in some instances.
Ie free money is deflationary as all suppliers ( see oil) survive on too low funding. Let the weak fail and start again so the strong get some pricing ability .
I love the time we're living.
* Witnessing the collapse of US is not something you see everyday.
<..."maybe people have finally realized the Fed is absolutely clueless..." Duh! So is everyone else and they have been since time began. Only the almighty knows the future, and he ain't tellin Yellen! And, only the almighty can control things, not a bunch of money changers who may be worshipped by the masses as gods, but certainly aren't. The money changers are delusional too, as if they can change the outcome of events caused by the actions of millions of people.
The Fed figured if they could make the oligarchs richer, the clueless lemmings would be okay with whatever "trickled down" to them. Have enough left on the MasterCard for season tickets to the ball games, an EBT card, and able to make the payments on the truck and SUV...oh, and enough left for some beer. Lives spent buried in debt, awaiting the day they can collect the promised Social Security check. Don't want to work, no problem, claim a disability. If your a vet, call the V.A., tell them you have PTSD and want a monthly check for life.
This party is about over. This is the first time the Fed has gone from a "hike" to more QE likely and the markets tanked. Once "faith in Fed' goes, look out below. The newest Fed-induced housing bubble is going too...walk-aways starting again. Overbuilt apartments everywhere thanks to cheap Fed $$. Stocks deflating as buybacks finally end and more layoffs just mean mind as well close the f***ing doors. All those buybacks on borrowed money, and the market is tanking...gotta laugh.
Long painful ride back to Dow 7k...should be fun to watch, especially the Silicon Valley bubble popping.
No, The US is now pre-revolutionary France under king Louis. It should start getting interesting soon.
quasi japan-greece is what ive likened us to the past few years (at least i felt that been our glide-path). the exact OPPOSITE of what our founders/framers wanted. they were trying to run from it. they did. then they fought for it. now, we are pissing on their graves with these upside-down policies.
socialism works til u run out of other peoples $$$. well, they have run out of other peoples $$$ in the south american countries and obama's "plan" was to let them all come here so he can turn them into voters who will vote to take from others to fund his left-wing agenda. for this reason, trump is right. you can't bring everyone from there, here, without here, becoming there. have to get a handle on this situation and return to the basic, fundamental principals that playbook called the constition laid-out for us. unfortunately, more "millenials" have read the last 10 kim kardashian tweets than the blueprint our country was built from.
"....quasi japan-greece..." those two nations have nothing at all in common. japan is far from socialist, even though the government has been trying to force feed it to it's citizens. people aint' buying it....
Socialism? LMFAO!!! I wish it was that good. In a socialist system the people control the productive capacity. You are an ignorant fucking tool. What we have had for quite a while is fucking fascism/cronyism. What part of all those BAILOUTS did you miss you stupid fuck? Yeah socialism sucks but capitalism allows companies and their owners to actually fail you dumb fuck.
+1 LOP
Most forget Fascism settled in a long time ago. We skipped the socialism part in the good ole USA. The problem is people do not look up definitions and listen to the media. The media will never speak the fascist word, EVER!!!
On a side note LOP, do we need to get you some Prozac, you have been a tad caustic lately.
Spot on, what we are dealing with is an eventual implosion of marxism in the form of governments growing like a bad kudzu vine that chokes the financial landscape until it's removed.
Actually USA is in a much worse position than Japan as Kotlikoff explains:
What difference does the fiscal gap approach make in our understanding of the true federal debt? CBO tells us that the national debt was a little less than $13 trillion in 2014. But the fiscal gap in that year as calculated by Kotlikoff was $210 trillion, more than 16 times larger than the debt estimated by CBO and already judged, by CBO and many others, to be unsustainable. If a $13 billion gap is unsustainable, what term should we apply to a $210 trillion gap? Kotlikoff also calculates that the fiscal gap is equal to about 58 percent of the combined value of all future revenue. Thus, we would need to reduce spending or increase taxes by enough to fill that 58 percent gap if we wanted to put the federal budget on a path to solvency that balances the interests of those now receiving benefits and those who hope to receive benefits in the future.
Kotlikoff goes on to illustrate that the fiscal gap is increasing at an alarming rate and that delay makes our problem much worse. In 2003, just a little more than a decade ago, the fiscal gap was $60 trillion. But by last year it had catapulted to $210 trillion.
http://www.brookings.edu/research/opinions/2015/04/08-federal-debt-worse...
Japanese debt is $11 trillion, 245% of its GDP.
So you're saying while the US official number is a lie and one should look at Kotlikoff's calculation,
the Japanese official number is true or close to the truth?
Last time I looked, Japanese debt was well over a quadrillion. Someone is lying.
Wasn't Japan just propped up as a center of strategic interest? I mean, it has its anime cults and housekeeping robot industry, but will there be anyone to do the same for America?
Maybe the Fed is banking on Alien intervention. After all, that's what they believe prevented nuclear war with the Soviets.
last time i looked there was an alien invasion going on in several parts of the world.
Alien invasion? You must mean the Krugman plan.......
Looks like imaginary rockets with little red shits left behind. Is this the oligarchs reaching escape velocity?
I think I'm turning Japanese
I think I'm turning Japanese
I really think so.
A one hit wonder by the Vapors in the 80's about masturbation. Apropos in SOOOOoooo many ways concerning the Fed and our situation.
"Whip It" by Devo was about masturbation.
Common misconception - it was about nipping a problem in the bud.
"When something's going wrong...you must whip it!"
Problems, not penises.
End the FED!
It wasn't about masturbation.
DavidC
But, but but... I taught economics at Harvard......