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Bernanke To The Rescue "There Is Scope For Further Action By The Federal Reserve"
It is Friday, and the market is in danger of posting its first weekly loss in months. Which means it is time for everyone's favorite Fed mouthpiece, Jon Hilsenrath to hand over the podium to his true superior, Ben Bernanke, by posting the Chairsatan's response letter to Republican Darrel Issa in which he defends QE and leave in the following: "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery." And just to make sure that as Hilsenrath is to the Fed, so Reuters is to the ECB, we get the following tried and now simply pathetic regurgitation of the Spiegel rumor from this Sunday (which was since denied at least two times for the simple reason that Germany will never agree to open-ended debt monetization until global stock markets are literally collapsing) via Reuters: "ECB considering setting yield band targets under new bond buying programme according to sources." Of course, neither Ben has said anything new, nor the ECB has said something that is on the margin either credible or actionable (recall that earlier today the ECB explicitly said its hands are tied until the Kardinals of Karlsruhe make their decision in 3 weeks), but the market doesn't care, and surges. Sadly for the programmed market ramp, the non-news was leaked too early, and should have been released at 3:30 pm at the earlier. Look for a full German denial shortly.
Full Bernanke letter response to Issa's prior letter:
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SURPRISE!!!!
Typical Friday shenannigans. Beware, gold.
https://www.quantsig.net
EDIT: Also, LOL @S&P http://blog.quantsig.net/2012/08/24/sp-reconvergence/
soylent greenbacks.
So does this mean that they're giving Hilsenrath the day off?
"ECB considering setting yield band targets under new bond buying programme according to sources."
Who the hell is sources?
They must mean Joe Sources, that’s the guy that said Iraq had WMD
...and the same guy that called Sen. Reid, a couple weeks back, with some really important news about Romney's taxes....
Bend over.
Good Fed, bad Fed = bipolar headline reactions.
www.pmbug.com
Is this article a Reprint ?
I think I've read it about a dozen times now
I can never forget the sound those things made. So creepy..
There's always room for icecream.
green shoots
Let's hope this pushes silver over the 200dma.
It hammered Gold and Silver.
Too funny the games TPTB play.
Keep talking wankers
Its all you got, print now or later, the system is fucked
Yeah, that was retarded - announce more printing and silver takes a punch in the gut. Let's hope the buying absorbs these punches.
Stop hunt.
Qt 23
Should we buy this fucking dip?
Answer: it is the stance of the Fed that every dip should be bought. With regard to that Market participants can buy the dip or the Plunge Proetction Team can. In either case it will be bought.
So to answer your question, it does not matter whether u buy it or not, this dip shall be bought, So Say we all.
There are broker rumors that a new mortgage QE will be announced this weekend:
1. Refinancing avail for under $700k mortgage
2. Must be current last 12 months
3. Refi at 2% for 5 yrs, Float to 1mo OIS+100 bps for remaining 25 yrs
4. $500 origination charge
-I'm sure Tyler has heard this and if it was feasible, he would have commented...just a RUMOR.
This proves even more that Santelli was right the Fed is political and the Bankster's want obama re-elected
Bernake said nothing new here. The banksters decided in May to elect Romney http://ronharrod.com/2012/07/politics/romney-defeats-obama/ . Follow the money and hold on to your hats these coming two months.
Aha. Scope. Is that kinda like "surge".
No, it's kinda like mouthwash...
Someone,anyone explain to me HOW more QE to buy Bonds, is going to help the Econ outlook in any way?.
Prop up the Mkts, Ok. But not Bonds.
As usual,makes ZERO sense.
Its a "Speak Easing" rally, nicely done.
Loose lips float all fiat ships.
"Get to work, Mr. Chairman."
The good news is that this bolsters the ASSet value of Kim Kardashian's new $100,000 toilet...
~~~
http://www.showbizspy.com/article/250682/kim-kardashian-buys-100000-toilet.html
~~~
The rest of you get swirlies...
That girl is full of crap
ROFLMAO save us
CHUCK SCHUMER ORDERS BERNANKE TO PRINT MORE MONEY TO RE-ELECT OBAMA
Crooks operating in broad daylight.
Its CLEAR BEN will PRINT long silver
If he was going to print, he'd be cooling expectations, to stop oil prices from exploding. As he isn't, I suspect it's just bluster. I also think the rise in gold and silver is a bit iffy.
...a market full of crack addicts.
I think it is obvious at this point the German court ruling will go in favor of the ECBs plan to buy bonds on the open market. Does anyone disagree?
Brand new D-marks have already been printed and sitting in the basement of the Bundesbank. Germany will never forget anything. Euro to the trash bin. I wouldn't get caught holding Euros. The decision of the German Senate is the key and they will never, NEVER, vote for EURO-Bonds. WILL NEVER EVER HAPPEN.
Show me the money!
http://www.youtube.com/watch?v=OaiSHcHM0PA
Since everything seems to be crossing on QE hopium this morn I'll repeat what I said in the other thread.
You know the best part of all this Bernake defending QE stuff and whenever they talk about it;
They always throw in recovery.
AHAHAHA! We're recovering so much so that we need 3 doses of QE, ZIRP and unending twist( lets not even talk about the Euro swaps building weekly).
It kills me every single time they plug it into the text/discussion.
makes me rotfl but...
most people buy into that lie.
Well its official,
Yesterday was the bear trap.
Cue Full Retard Algo
an Algo in every Pot
is that a bazooka in your pocket or are you just happy to see me?
Strengthen WHAT [fucking] recovery?
Another example of propaganda in full display. Just keep repeating the lie and pretty soon people quit questioning the premise...
Where's kito? He owes me a turkey sandwich. I'm hungry.
Nothing like a little scope for a "market" with horrible breath/Breadth.
right here doc....ha!!!!! no chance of it happening.......now poor ben is in the crosshairs of romney....do you think he is going to embolden the anti fed (disingenuous) stance now?? do you think ben will propel oil to 150?!?!?!? come on doc....the dow is lush and verdant these days, interest rates are rock bottom, FOR THE QUADRILLIONTH TIME, not happening before elections.....and where is that smack talking bay of pigs???? he is a tough guy because gold crossed over 1600 for the 100th time this year....................
The fact that Ben is in Romney's crosshairs is all the more reason to print. If for nothing else he will do it to preserve the status quo and for job security.
i cant see how bernanke would want to have his position politicized and placed in the limelight....the less people that even know who he is or what the federal reserve is (most dont), the better off he is.......... having his name thrown around so close to elections, when the masses are tuned in, does NOT enable his job security or the security of the fed..............
IMHO....advantage now to Kito. (and yes I'm keeping score)
Wait, who said they stopped printing?
Or do you all just mean "newer, better printing"?
What makes you think the masses are tuned in? Most of them are back to sleep window shopping at Best Buy. Shit most of the masses don't even know who Biden is.
you are very right about that, however polls always jump during/after replublicrat conventions.................ive decided my sandwich will be honey glazed turkey on a whole wheat italian sub, lettuce, tomato, onion with honey mustard..........pickle on the side
you are very right about that, however polls always jump during/after replublicrat conventions.
And Demoncrats also.
And the rest don't care.
"Shit most of the masses don't even know who Biden is."
How many guesses do I get and what do I win?
Isn't Biden that crazy European thing that squirts water on your ass after you take a dump?
You mean "Bite me?" That guy?
http://www.youtube.com/watch?v=5FtzSmlkncM
Mitt says it's the job of the president to put people back to work. This I was unaware of.
Yeah that's quite a shocker. I thought the American president's job was to remove impediments so the private sector can flourish.
I was trying to highlight how Rmoney can flip-flop on the same topic in the same year. He may set the record for flip-flopping the most on the same topic in the same sentence.
I was trying to highlight how Rmoney can flip-flop on the same topic in the same year. He may set the record for flip-flopping the most on the same topic in the same sentence.
NO WAY he can set the record Top holder never to be outdone now on Hole 9,of his 1000th rd of 4th yr.
Ultimate Mitt Romney Flip-Flop Collection
http://www.liveleak.com/view?i=e80_1345168212
"NO WAY he can set the record Top holder never to be outdone now on Hole 9,of his 1000th rd of 4th yr."
Sure he can, but you have to give him a chance! Romney 2012!
romney says the fed must be audited...
http://www.businessweek.com/news/2012-08-20/romney-calls-for-fed-audit-as-party-mulls-platform-plank
im shocked to discover a presidential candidate talking out of both sides of his mouth.......................
stop feeding the trolls kito
Slewie, it looks like the Trolls are out hitting us all (with down-arrows). Post a no-op and you'll get a down arrow: just looking at names, not what you're writing (because I don't think that they can actually comprehend anything- they just go by pictures...).
I'd think that Bernanke would like a nice, easy exist from the chair. Besides, it's not really his call, whether it comes from political WH pressure or from the Sting-pullers (am I repeating myself?).
I'm right here kito. WTF are you yapping about?
Gold and silver are looking okay to me. How's the gold shorting coming along? Where's your pal GeneMarchbanks and his 1350 call?
This is a war. It's just like the Iranian hostage crisis of the late 70s, only it's economic policy that's being held hostage. I'm tending to side with you, kito, that nothing will happen until after the elections. And after the elections we'll find out what the String-pullers want.
Folks need only look at what's going on over in Europe to understand that all of this (incl Bernank's current posturing) is meant to buy time until, I'm figuring, US elections are over. At the start of a new term the "elected" teleprompters can then inform us that they have the "mandate." Leading up to the elections the "mandate" BS doesn't fly (and all the POWER seekers on the other side of the coin will ensure that nothing does happen).
I really can't determine whether things would be better if the Fed were officially part of the govt, that if we think that the Fed is politicized as it is then how could it be LESS politicized if it were under direct control of the teleprompters?
Is someone shitting me? I thought that there's very little that's controversial in what I wrote. Further, asking a question gets no response but a down-arrow? Fucking clowns... deserve what's coming.
This reminds me me of what the technician on the set of the movie Jaws once said... " The shark is working, The shark is working. That is all"
When John Lennon said "all i can say is, that its all showbiz"...who would have thought he was talking about the markets.
"Words, more words."
funny (sad) how mighty the mouth is
I was just about to say I'll let the gold bugs run the stops around the most recent intra day highs around 1675 after that I'm throwing in the towel going long when suddenly the invisable hand showed up and hammered things back down.
Re: "should have been released at 3:30 pm at the earlier"
They were targeting European close -- algo assisted mark up to close EU markets green.
Rumor origin: FRANKFURT Reuters
http://www.reuters.com/article/2012/08/24/us-ecb-bonds-band-idUSBRE87N0Q420120824
German DAX had the largest percent mark up into the close.
BTW, just curious, what is the equivalent to NY Fed Plunge Protection Team (aka Open Market Operations Team) in Frankfurt (I am sure there is one)? It is becoming increasingly likely that NY Fed marks up markets after Hilsenrath B.S., and PPT in Frankfurt marks up DAX after Reuters and orchestrated Draghi "believe me" B.S.
$98 oil. There will not be any qe3
The Fed or Wall St. doesn't care what you pay for gas or food that price is in part due to ben right now in fact obama doesn't care other then NOW because he wants to get re-elected he wanted $8 gallon gas
Oil near $100. Thanks a lot, Fed!
snip
Federal Reserve chairman Ben Bernanke may or may not give the market more hints about a possible third round of bond purchases at his speech in Jackson Hole next week. But investors are clearly betting on more quantitative easing or other forms of stimulus. Just look at what's going on in the commodity and currency markets.
The price of crude oil is getting dangerously close to $100 a barrel again. It hasn't been above that level since May. The euro has strengthened against the dollar as of late, partly due to hopes that the European Central Bank will step in and buy more Spanish bonds and also because of rising expectations for QE3. If the Fed turns on the printing presses so that Bernanke can take yet another helicopter ride, that could further weaken the dollar and push the prices of oil and other commodities higher.
We'll make a killing out of food crisis, Glencore trading boss Chris Mahoney boasts
The just couldn't let me enjoy my today's profit from EURUSD short a little longer and had to run their mouths again... wankers.
AND GREECE TO LEAVE THE EU - THAT WILL HAVE TO WAIT A BIT BUT WILL COME LATER AND BY THE WAY DONT FORGET TO LOAD THE TRUCK WITH PHYSICAL GOLD
Can Greece really secede from Germany? Or, is it the other way round?
"It is Friday, and the market is in danger of posting its first weekly loss in months. Which means it is time for everyone's favorite Fed mouthpiece, Jon Hilsenrath to hand over the podium to his true superior, Ben Bernanke, by posting the Chairsatan's response letter to Republican Darrel Issa in which he defends QE and leave in the following: "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery." And just to make sure that as Hilsenrath is to the Fed, so Reuters is to the ECB, we get the following tried and now simply pathetic regurgitation of the Spiegel rumor from this Sunday via Reuters:"
given that Zerohedge is the favourite, paid, mouthpiece for the idiot far right fringe of the GOP, i dont suppose it is in any position to soap-box in this way.
MANY CNBC REGULARS HERE THESE DAYS
The storm is turning west so they have nothing else to talk about
I am interested in your deductive reasoning skill set.
Exactly how did you reach the conclusion that ZH is paid by the far right fringe of the GOP? How did you ever decided that ZH is their "favorite"? Based on what evidence are you making these statements.
Because near as i can tell these are personal opinions. And we all know that opinions are like assholes.
deductive reasoning
I doubt he knows what that means...
Wow, you really are that stupid huh? Believing that we are the far right fringe of the GOP? Bwahahahahahhaa....moron.
"given that Zerohedge is the favourite, paid, mouthpiece for the idiot far right fringe of the GOP"
You must not come here very often, or read very deeply.
GOP, DNC - labels for the same circus clowns.
This isn't about politics.
I guess I should ask ,where is my cut?
Utterly dispicaple just how courrpt this country's banking sytem has become! When down, Confetti to the ruscue! Hasnt worked yet and will not work this time, this is about keeping Obama in office and Bernanke keeping his job.
THIS IS THE BEAUTY OF PREJUDICE
Utterly despicable just how corrupt this country's banking system has become! When down, Confetti to the rescue! Hasn't worked yet and will not work this time, this is about keeping Obama in office and Bernanke keeping his job.
At this point since ZERO fiat has entered the public/private bus sectors, anyone with the ability to understand EngriSh and an IQ of 90, should see that QE is about making the rich more rich,and bringing the curtains down faster.
Pre Planned events................
Cashed in my Nasdaq puts this morning (was afraid of contango.) Re-shorted the Estoxx50 halfway into the spike.
Walked the dog this morning, selected a couple of new trees, ran a maintenance check on the generator & rubbed the fingerprints & tongue marks from some bars...
I took my profits and bought some more cans of corned beef and beer
why is the beef called "corned"?
Cause its from Cornwall ? No, because it's cooked.
Reminds me... I've got to tag a bunch of trees for fall cutting. Oh, and where's that damn dog off to NOW?! (hopefully she's off chasing aerial predators away from the fowl as she's come to do)
Other stuff are things that one shouldn't talk about... you know, Fight Club rules and all...
Why bother to act when the promise to do so will suffice?
http://www.theglobeandmail.com/news/politics/canada-waives-cote-divoires-130-million-debt/article4494992/
Canada waives Cote d’Ivoire’s $130-million debtdup
What the feck is going on? Are they just buying every dip or is this some set up to sucker Joe Public retail investor in and leave him/her holding over-priced stocks?
Surely this market can't continue to rise every single day on poor news and low volume just because Ben keeps hinting at more printing?
This bubble has to pop eventually - surely?
They always do. Just remember that.
That is what I am holding on to... but I don't mind admitting that watching the NASDAQ/DOW rise every day is making it harder to hold on to that.
Don't spend much energy on watching the dancing bears (term typically ascribed to a distraction, one I picked up as a reference to trojan horse stuff in e-mails- watch the dancing bears as all hell is released on your computer)
But, really, look forward and not backward...
For the sake of efficiency, all rumors should be reduced to either :
A) Go up now
or
B) Go up now
That way, there is a choice, and trading can be as fun as a video game.
There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery.
That's contradictory. If there really was a recovery, it wouldn't need strenghtening. FUCK YOU BERNANKE!
Of course it's contradictory. It's coming from the Ministry of Truth. Please brush up on your newspeak.
The fundamentally flawed premise can be spotted in just one word: "recovery." As I keep harping on, if you don't have a proper premise then everything is BS, no matter how much lipstick is used.
"there is scope" in the post title and then a military guy looking through a rifle scope is pictured in the top zh ad. don't think that's what the joo bankers had in mind. hahahahahahaha!
Don't miss out on the action, guys, keep on buying! It's still time for everyone to join in! Long is the motto!
...
...
(hehehe)
Financial repression is necessary for Amerika and good for the markets.
" Please see my response for question 10 ".
We is surely doomed !
Poor Benny as it becomes more apparent that the market is totally captured/rigged the faster the economy will tank. What does he think the natural human instinct is when confronted with the reality that everything is an illusion? Keep printing keep pumping eventually you'll destroy the country Benny
1) Romney says he'll replace Ben,
2) Ben says "oh yeah Mitt, you meant THIS ctrl-P?"
3) Obama plays another round of golf.
While oil bubbles over. Hadn't seen this before right. It's going to be one awesome fall.
I lurve Bennie's Bullshanomics
and the message to people especially in Europe from Ben. . Fuck you. if you muppets think your gonna get out of a recession. Heres 100 pb crude. Ben flips the bird to the world!
It looks obvious to me that Wall Street wants Obama.
It is now clear the exploiting class moving on to be the ruling class has never had a more dependable president than Obama. He is a non-entity. He’s like an empty glass that you fill with whatever you need; you want foreign policy, you’ve got it. You want a line-up of Goldman people in the government, you got it. You want Bob Rubin sitting next to the president in the White House, you got it. You need the Dow Jones to hold at a time when the Republicans are claiming bad economic times prior to convention, Bernanke will write a letter for you.
It’s pretty clear Bernanke is holding the stock market through the election. If he wanted to help the Republicans he would drop the market by a few hundred. It’s obvious that for some reason Wall Street is worried about Romney, that for some reason the neocons are worried about Romney, that they were happy to get Ryan because that put away some of their fears.
it's the international implications: 1)Obama is the better face man (as actor non-entity). Who would begrugde the Happy Kenyan - opposed to the neocon machiavellian/angry hillbilly white guy ? 2) he will drag the US into the abyss faster
Stock makets always do better under Democrat Presidents than Republicans is something I read last week.
Obama has been excellent for the banksters and the US markets has he not? All he needs now is for the 'little people' to go out and vote him in again in their tens of millions.
And coming from a Democrat is the perfect cover. The lefties don't have anybody to run to.
I think it would be more correct to say that Germany would never openly agree to debt monetization, but sneaky, dishonest, secret and semi-automatic debt monetization well children that is a different matter. The Germans love all thing mechanistic and it will eliminate the political aspect - Ben ex machina! The end game is upon us. Prepare to be euronated on from a great height. Behold the wrath of dragi and weep.
Who exactly decided to sell gold and silver after that??
Whooppeee.
Fed this, fed may that, fed wont do such and such, maybe fed...
next!
Oh please! M2 Money Velocity at all time low and employment to population ratio stuck at Carter era levels.
And QE will solve either of these problems?
http://confoundedinterest.wordpress.com/2012/08/24/durable-goods-orders-ex-airplanes-fall-3-4-bernanke-tells-issa-about-a-possible-hail-mary-pass/
Listen, you obviously didn't get the memo! It says that you're supposed to have "confidence!" Just be confident that you can eat tomorrow and all will be...
Lemmings.
"The first need is to free ourselves of that worst form of contemporary obscurantism which tries to persuade us that what we have done in the recent past was all either wise or unavoidable. We shall not grow wiser before we learn that much that we have done was very foolish."
Could someone please give this guy a bashing?
Does Easy Monetary Policy Enrich the Financial Sector?
http://azizonomics.com/2012/08/08/does-easy-monetary-policy-enrich-the-f...
.
Does the Bank of England Worry About the Cantillon Effect?
Posted on August 24, 2012 by Aziz| 4 Comments
http://maxkeiser.com/2012/08/24/does-bank-england-worry-about-cantillon-...
The empirical data is in. And it turns out that as I have been suggesting for a very long time — yes, shock horror — helicopter dropping cash onto the financial sector does disproportionately favour the rich.
.
helicopter dropping is misleading if you do not
realize just how precise the drops are when it
comes to the location of the drop. the term seems
to imply randomness but there is nothing random
about it, the term should be helicopter deliveries
to secret and private digital locations for crony affiliates to the detriment and destruction of
the financial survival of the working, middle
class and ultimately the rest . (all the people)
or systemic stealing in broad daylight at the heart
of the money system. hmm? someone/s warned about this...
"the term should be helicopter deliveries
to secret and private <far from our prying eyes and hands> locations for crony affiliates"
Worked in Iraq, well, sort of... except for the part where it, well, vanished. Seems, however, that that's little different than what's aready happend with the US's central bank...
Just in time for Iphone 5.
Keep stuffing trillions at top 0.001% and eventually some of it has to reach the bottom 90%.
Could someone please give this guy a bashing?
Got to love question #6. Does the FRBNY cave in to market participants demand for futher easing and "........yield to market demand?"
Absolutely!
We do whatever Lloyd and Jamie tell us to do but, we always give them advanced notice so they can program their algos to front run Fed action so we can spend our days in the Hamptons instead of behind a desk dealing with all those jacked up traders.
the scope is his mother's ass
Top 10 similarities between the fall of Rome and the fall of America
1. Over-Extended Military - Rome was a republic that turned into an empire.
2. Government Corruption – The Roman Empire fell because it was bankrupted by its leaders.
3. Immigration - Rome found itself increasingly using “illegal immigrants” from outside their nation to do the agricultural work that Romans would not do.
4. Birth Control - Decrease of Roman birth rates. Abortion, contraception, infanticide, prostitution, and perversion dramatically lowered birthrates.
5. Elimination of the Middle Class - The middle class of ancient Rome were Equestrians.
6. Obsession with Sports and Entertainment -The Roman poet Juvenal (circa 100 A.D.) wrote regarding the way latter-day Roman emperors retained power and control over the masses that were seemingly more than happy to obsess themselves with trivialities and self-indulgences while their once-great-and-powerful empire collapsed before their very eyes.
7. Redistribution of Wealth -Roman politicians devised a plan in 140 B.C. to win the votes of the poor: giving out cheap food and entertainment, “bread and circuses”, would be the most effective way to rise to power.
8. Exporting “Culture” - Rome’s greatest conquest was the seduction of its’ peoples.
9. Morality – Dr. Carle Zimmerman in 1947 wrote a book called Family and Civilization.
A. The breakdown of marriage and rise of divorce.
B. The loss of the traditional meaning of the marriage ceremony.
C.. The rise of Feminism..............
10. Inflation – As early as the rule of Nero (54-68 A.D.) there is evidence that the demand for revenue led to debasement of the Roman coinage.
Uh... no, these were SYMPTOMS of the SINGLE underlying problem: Rome's attempts at perpetual growth. Growth means expansion. And when expansion becomes really difficult/stressed/no longer possible then all these things accompany the decline.
The trick that people just can't grasp is that the promise of "better days," of "prosperity" is ALWAYS the carrot that populaces buy in to. The trick is used to keep power in power: because of people's greed of thinking that they can be one of the powerful they allow power to continue the storyline...
Rinse and repeat. Well, until Mother Nature/God slams tosses Black Swans our way.
More 'jawboning' fools the Muppets, still?
Arrest the market manipulators. The FED is attacking the US. This is war.
Renting is still cheaper then buying:
Among all states, California has the most areas where renting is more affordable than owning. In San Francisco, the gap between average monthly rents and mortgage payments is the largest nationwide, with homeowners paying $1,259 more each month than renters do, according to Marcus & Millichap. Last year, median-income households in the San Francisco metro area had just 66% of the income they needed to purchase a typical single-family home....
http://money.msn.com/home-loans/5-places-where-renting-beats-owning
It will always be cheaper. Home ownership is for Fools. I know. I'm an owner.
Rent at say, $1000 per month ---- $12K a year.
vs.
Taxes - $5,000
Heat - $4,000
Maintenance/repairs - $3,000
Insurance $1,000
Electric - $1,500
Total - $14,500 and I have even added the Mortgage or PMI.
Myopic... doesn't consider usable land, or that interest can be written off. For me all of the numbers that you present (for items applicable to me) are VERY high, and I've got 40 acres (which provides trees for my heating, not to mention consumables from the animals that I raise).
PMI? Apparently YOU are familiar with it because you didn't have enough money to put down that would remove that requirement. Maybe staying in your parent's basement a few more years and you'll be able to have saved up enough to avoid it.
The real fools are those who end up in cages without the ability to feed themselves. I continue to hold a mortgage because it's possible that the bank might not come collecting one day.
Sometimes people think that they're a lot smarter than they really are... there's a term for that...
Arrest the market manipulators. The FED is attacking the US.
Renting is still cheaper then buying:
Sure is even if you factor in taxes, and upkeep............
The only bullet they have left is the THREAT of more bullets.
They're out of ammo and Joe Mainstreet is out of the market.
Market down > 50 points, the Fed or Hilsenrath on the tape later in the day or next day arguing for more easing. Been like this since 2008.
When people wake up to the fact that the Fed can only create inflation, not jobs, the calls for their elimination will grow ever louder.
After reading Daddy Bernanke's letter, I think I could have written that letter. I mean, dual mandate allows me to do anything I fudding want to do and you do not have a fudding clue, so shut the fudd up. I am saving the fudding world and you are to fudding stupid to understand how brillant I am!
Respectfully,
Bennie wouldn't be doing any more printing if the money supply was tied to GDP.
If it was tied to GDP it would be shrinking since GDP is shrinking. That would be deflation. Shrinking money supply.
If Bennie had that policy last 4 yrs there would have been no TARP, no QE, no secret $27 trillion printed up and given to god knows who, no blatant treasuries purchases, no IMF contributions, no Euro currency swaps, no so-called "easing" at all.
USD wouldn't have lost 50% of its value either.
But the bond market would have crashed, MBS market would have crashed, Fannie & Freddie would be bankrupt and shut down, S&P would still be in the 700 range, Dow would still be in the 7000 range, every TBTF bank would have bankrupted and closed down, US government would have had to cut spending 50% or bankrupt and close down.
And the economy would actually be mending. People wouldn't have lost 50% of the purchasing power in their paychecks, they'd have twice as much real wealth to spend, food and gas prices wouldn't have jumped 100%, interest rates would be 5% - 6%, savers would be getting some actual return, businesses could borrow money to expand, we wouldn't have lost millions of jobs, and the housing market wouldn't be imploding.
Instead of the depression we have now it would have been a recession and we'd be truly coming out of it, not just endless hope and talk about coming out of it.
All those wonderful things would have happened if Bennie just tied the money supply to GDP, it can't grow beyond GDP growth.
We wouldn't need a gold standard to do that.
It could be simple Fed policy. Money supply is tied to GDP. If GDP grows, money supply can grow propotionately. If GDP shrinks, money supply must shrink proportionately.
It would be maintaining the value of the dollar ...Fed's (alledged) mandate.