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The Fed Isn't Even Trying To Make Sense Any More
The Fed appears to have escalated its confusion-nado. From contradicting each other.. to disagreeing with themselves...
- Compare this - BULLARD SAYS EXPECTS STRONGER JOBS REPORTS TO COME.
- To this - BULLARD SAYS SUB-200K PAYROLL GAINS MAY BECOME THE NORM?
But do not fear, these guys are on top of it!!
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DMT is powerful.
Bullard must’ve caught the Gartman-virus. ;-)
Looney
Makes perfect sense .. we are so fucked and they know it that having sub-200k gains in the job reports is stronger then what was even they expected.
Dow up +60. PPT once again bitch slaps everyone who though of it dropping below 16000.
The fed can't remember what the hell it said yesterday.
One can't hear one think over all those noisy printers I imagine. Those FOMC meetings must be a drag.
This clown just legally changed his name to "BullShitard"
The Fed has mastered language distortion. George Orwell is saying from the grave, "I told you so!!! But no....nobody listened. And that Animal Farm book? They thought it was a kids story!! F'ing idiots!!!"
No publisher would touch it as politcal satire, so he had to get it published by a childrens books
house.
PC isn't as new as you think.
If TPTB did DMT or Ayahuasca, maybe they would lose the ego and stop believing they can centrally plan the economy!
Leave me alone. I'm eating cake.
Is it yellow? Did you find it in Iraq?
Devil's Food or Sponge?
… it’s what Marie Antoinette kindly suggested us po’ fo’k should do.
https://en.wikipedia.org/wiki/On_Bullshit
"On Bullshit (2005), by Harry G. Frankfurt, is a philosophical essay that presents a theory of bullshit that defines the concept and analyzes the applications of bullshit in the contexts of communication. As such, bullshit can be neither true nor false; hence, the bullshitter is someone whose principal aim — when uttering or publishing bullshit — is to impress the listener and the reader with words that communicate an impression that something is being or has been done, words that are neither true nor false, and so obscure the facts of the matter being discussed.[1] In contrast, the liar must know the truth of the matter under discussion, in order to better conceal it from the listener or the reader being deceived with a lie; while the bullshitter’s sole concern is personal advancement and advantage to their own agenda.[1]"
And on a good note citizens, your chocolates rations have been increased from 30 grams to 20 grams.
Love,
The Ministry of Plenty
Bank account.
https://www.youtube.com/watch?v=5F718vM1hHE
Shouldn't his name be BullCHIT?
Bullard, in mid 3013 I believe when GDP was weak was on CMBC and said he stil beleived that by year end GDP wil have averaged 3.5% for ht eyear, meaning that run rate 2nd half woudl have had to have been 5%.
He was full of it then and more so now.
The Fed record on forecastign, as we well know, is for crap.
Bottomes up the leaders are full of themselves.
having said this soem of the wite papers coming out of hte regional Feds are incredibly honest.
remember the San Fran Fed "bank Interconbectivity" issue is a major probloem.
Or Esther George of KC Fed saying hrer region is not doing well.
ah, the classic chewbacca defense:
Why would a Wookiee, an 8-foot-tall Wookiee, want to live on Endor, with a bunch of 2-foot-tall Ewoks? That does not make sense! But more important, you have to ask yourself: What does this have to do with this case? Nothing. Ladies and gentlemen, it has nothing to do with this case! It does not make sense! Look at me. I'm a lawyer defending a major record company, and I'm talkin' about Chewbacca! Does that make sense? Ladies and gentlemen, I am not making any sense! None of this makes sense! And so you have to remember, when you're in that jury room deliberatin' and conjugatin' the Emancipation Proclamation, does it make sense? No! Ladies and gentlemen of this supposed jury, it does not make sense! If Chewbacca lives on Endor, you must acquit! The defense rests.
Hey, man - it got OJ off.
https://www.youtube.com/watch?v=LQCU36pkH7c
^ still gold, Jerry - gold!
I shudder to think what “gets OJ off”.
Coincidence The Bullard was set to be unleashed just after the jobs report?
When you have lost control but you must speak to the media weekly, shit will come out of your mouth.
They don't have to make any sense! He could sit there lighting off farts and never be called on it.
What ever these clowns say is gospel, there is no right or wrong it's their way.
It is all bullshit!
But they like their bullshit, they live off their bullshit, they profit off their bullshit, so it's really not bullshit to them, it's their next meal.
http://www.reuters.com/article/2015/10/02/us-usa-fed-stability-idUSKCN0R...
Prick asset bubbles with rates? Fed officials split
BOSTON | By Jonathan Spicer
The question of whether the Federal Reserve should adjust interest rates to deflate risky financial market bubbles split some top Fed policymakers on Friday, suggesting the controversial idea is re-emerging as the U.S. central bank approaches an historic policy tightening.
Giving the central bank an effective third mandate - beyond its formal objectives for inflation and employment - has won more adherents since the 2007-2009 financial crisis, which some blame in part on too-easy monetary policy in the preceding years that allowed risks to take root.
As the Fed approaches its first rate hike in nearly a decade, one reason to act sooner than later is to head off any brewing instabilities in risky corners of financial markets such as leveraged loans, high-yield debt and even automobile lending.
So far the Fed's approach has been to use financial regulations and supervision of banks and other firms - so-called macroprudential tools - to head off any emerging risks. Monetary policy has focused on achieving the goals of 2-percent inflation and maximum stable employment.
But Fed officials discuss financial stability quite frequently in their meetings and those discussions already do influence policy decisions, according to a paper co-authored by Boston Fed President Eric Rosengren.
"There are reasons to believe that financial stability should be an explicit consideration of monetary policymakers," concluded the paper, published Friday at a Boston Fed conference attended by central bankers from around the world.
Rosengren, among the dovish Fed officials who prefers to keep rates low to boost employment, called the research "an initial foray into this area ... but it does capture I think the way we seem to behave."
The paper was based on the number of times Fed officials mentioned terms related to financial stability in policy meetings from 1987 through 2009, which is the latest year for which transcripts are available.
References spiked in the late-1990s technology bubble and again in the recent crisis, it found, with for example "stock market" referenced 1,210 times in that time frame, "bust" 982 times, "volatility" 853 times, and "froth" 30 times.
Concerns about possible bubbles in the financial system have increasingly come to the foreground as policymakers consider when to begin raising rates after nearly seven years near zero, with Fed Chair Janet Yellen and most others predicting the move will happen later this year.
Yellen and others have publicly worried that keeping borrowing costs too low for too long can fuel too much risk-taking by investors and possibly destabilize the economy.
However Narayana Kocherlakota, another dove and the head of the Minneapolis Fed, came out strongly against adding the goal of stabilizing the financial system to the U.S. central bank's list of duties, saying that doing so would add to existing public uncertainty over the Fed's existing two goals.
"Adding a financial stability mandate would likely generate more public uncertainty about policy choices and economic outcomes," Kocherlakota told the conference in response to the paper.
The Fed should only be concerned about financial stability to the extent that it affects its ability to reach its other two goals, which are enshrined in U.S. law.
The Fed should be clearer about its existing goals, and should promise to calibrate policy so that it can reach its inflation goal within two years, he said, adding it would need to ease - not tighten - policy to reach such a deadline.
Cleveland Fed President Loretta Mester, also in Boston, cautioned that monetary and macroprudential policy discussions should probably be separated to protect the central bank's cherished independence.
"If effective monetary policy means taking away the punch bowl just as the party gets going, then effective financial stability policy might mean taking away the punch bowl before the guests have even arrived because the risks to financial stability build up over time and action likely needs to be taken earlier in order to be effective," she said.
While the Fed is bound by the 2010 Dodd-Frank financial reform law to defend against risks to the financial system as a whole, it has generally interpreted that to mean directly supervising banks and other financial institutions, and writing tougher rules on things like capital standards.
Randall Kroszner, who was a Fed governor during the crisis, said the central bank is still struggling to figure out its new role of ensuring financial stability.
"We don't want to have central banks to prevent risk-taking from occurring," he said. "It's a much trickier issue."
They are laughing at us all; They are simply throwing darts at a board full of platitudes written on Post-it notes.
just spitballing:
What if, next inevitable round of QE - only small/community banks under a certain size were given access to freshly baked fiat instead of the large/commercial/investment banks?
Better, worse, or who cares anyway?
"SUB-200K PAYROLL GAINS MAY BECOME THE NORM"?
Yeah, and so are 300,000+ per month increases in the number of adult Americans without jobs, but that aren't counted as unemployed!
High IQ morons. Ben was the best. "He scored a 1590 on the SAT" and yet when questioned about QE would quiver and sweat like Martin Shorts character Nathan Thrum.
What the FED really needs are much better liars, or else they might start losing their bwahahaha credibility.
fucking loser mentality with these bullard comments
i hope trump wins and on day 1 he says we're defaulting on our debt, executive action to ammend the consititution so that WE NEVER BORROW ANOTHER PENNY EVER AGAIN, blow-up the bond market, and start everything over again.
people can say what they want about trump filing several bankruptcies on a few of his businesses & how he pulled out of AC (some would consider that selling at the top, ie. winning) but the friggin guy knows when to stop digging.
All I want to know is:
- When does the Fed's lack of credibility translate into 'actionable events' taking place?
- When do the Chinese stop fucking around with the gold and get on with the economic knee-capping?
I keep imagining that by 2025 the entire workforce will be a single working-guy named Bob...
… Zero hours, no benefits.
His name is Jose Sanjeep Chen.
You'll be happy to know that Bloomberg reports that Fed's Fischer sees few obvious bubbles in US economy.
How many is “few”?… 12?… 3?…
… and does he see any unobvious ones?
How do you know they're lying? Their lips are moving. Here is what he had to say:
“Banks are well capitalized and have sizable liquidity buffers, the housing market is not overheated and borrowing by households and businesses has only begun to pick up after years of decline or very slow growth,” the Fed’s No. 2 policy maker said in a speech Friday in Boston. Still, he warned that “potential shifts of activity away from more regulated to less regulated institutions could lead to new risks.”
BULLARD SAYS EXPECTS STRONGER JOBS REPORTS TO COME. Yep... Blow jobs... Bring back the oldest job out there. New "service" Industry!
The Fed's ONLY mandate has been to make the bankster's balance sheets look good
Fed PR has one objective - to make any excuse necessary to hold rates at zero.