• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Disappointing Richmond Fed And New Home Sales Seal The Recessionary Deal

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Tue, 08/23/2011 - 10:19 | 1590094 Iriestx
Iriestx's picture

Apparently these numbers are very bulllish for equities.

Tue, 08/23/2011 - 10:21 | 1590107 Dreadker
Dreadker's picture

I know right... fricking ridiculous... My guess is its 'Priced In'.... bad news... "priced in".... global war "priced in"... 2012 mayan prophecy "priced in"...

 

Basically "priced in" is the markets "I plead the 5th!" lol

Tue, 08/23/2011 - 10:24 | 1590129 midtowng
midtowng's picture

What is getting priced in is QE3.

Tue, 08/23/2011 - 10:25 | 1590138 Cognitive Dissonance
Cognitive Dissonance's picture

There are gonna be some very blue balls if Bernanke doesn't roll out QE 3+ on Friday.

Just sayin'

(Not that I would know anything about that.)

Tue, 08/23/2011 - 10:32 | 1590176 firstdivision
firstdivision's picture

Don't worry. If it is not announced on Friday, it will be announced by Asia open on Sunday when markets gap down 10+%.

Tue, 08/23/2011 - 11:13 | 1590348 Problem Is
Tue, 08/23/2011 - 11:38 | 1590437 snowball777
snowball777's picture

Pantone needs better descriptors...like "Oh my God it hurts, baby, please" Blue.

Tue, 08/23/2011 - 12:03 | 1590538 DOT
DOT's picture

The most interesting colors are yet to come.

Tue, 08/23/2011 - 13:16 | 1590873 TruthInSunshine
TruthInSunshine's picture

 

 

 

Economy is in a depression.

Real UE is 20%+

GDP is probably running at -4% to -5% YoY rate (soon to be running at -7%+).

Housing sales are at an ALL TIME LOW with this 'recovery' melting down like Fukushima: 

The banking-financial and equity markets are about to enter a WORSE crisis than what we saw in 2008.

And the developed nations are trying to dig themselves out of a very deep hole by pissing upwardly (with China not knowing what to do in the face of the crises they face).

 

It's all about jobs, wages and the middle class, and ObaMao, Jeetner, Bernankstain and CONgress can't do anything about J-O-B-S when the multinationals own the globe (because they, with their european counterparts, gave the multinationals the keys to the joint).

 

Tue, 08/23/2011 - 11:02 | 1590304 TheJudge2012
TheJudge2012's picture

Do they fall on the announcement?

Tue, 08/23/2011 - 11:05 | 1590316 Long-John-Silver
Long-John-Silver's picture

QE to infinity and beyond Bitchez!

Tue, 08/23/2011 - 10:27 | 1590151 freethinker4now
freethinker4now's picture

and to top it all off, the "priced in" has yet to be priced in, so expect the bulls to be out in force??? :|

Tue, 08/23/2011 - 10:23 | 1590116 White.Star.Line
White.Star.Line's picture

These numbers are very bullish for future monetization.

Tue, 08/23/2011 - 10:23 | 1590119 Doode
Doode's picture

No, they are just sure that QE is coming on Friday.

Tue, 08/23/2011 - 10:31 | 1590171 Sudden Debt
Sudden Debt's picture

looks like it for sure.

this bad house news was the best news they could dream of to assure the comming QE launch.

When does Obama come back from his vacation?

Tue, 08/23/2011 - 10:35 | 1590198 BeatTheMarket
BeatTheMarket's picture

but , if equities keep going up... then is QE3 needed???

Tue, 08/23/2011 - 15:50 | 1591818 Anonymouse
Anonymouse's picture

It's like the old "Star Trek" sure-fire method for defeating a computer.  "This statement is a lie" will cause an infinite contradictory loop, causing computer circuits to over-heat.

The economy is down  --> QE3  --> anticipatory increase in stocks -->  QE3 not needed --> stocks go down -->  We need QE3 --> anticipatory increase in stocks --> QE 3 not needed --> stocks go down  --> etc.

Hmmm, perhaps we have found a way to defeat HFTs.

Tue, 08/23/2011 - 10:19 | 1590095 John Law Lives
John Law Lives's picture

Terrible data.  That must be the reason for the 100+ spike in the DJIA.  The mindless bots are anticipating QE3 to the rescue.

100% FUBAR!

Tue, 08/23/2011 - 10:54 | 1590271 SheepDog-One
SheepDog-One's picture

Markets have priced in QE3 at least 10 times over since January on every piece of horrible news....this is just ridiculous.

JH QE event will fall FAR short of these pie in the sky expectations of these insane market bakers.

But GO AHEAD Ben! Throw QE3 in! LOVE to see the dollar totaly collapse and gold get a 20% add-on! 

Everyone forget we just got downgraded over insane debt and insane fiscal policy? 

Rock on, lunatics....rock on!

Tue, 08/23/2011 - 12:25 | 1590626 RSloane
RSloane's picture

Yup they are. And Bernanke will deliver.

Tue, 08/23/2011 - 10:20 | 1590097 Quintus
Quintus's picture

Somebody needs to tell the stock market, which seems to be pricing in a wonderful recovery.  Or more printing.

 

Tue, 08/23/2011 - 10:22 | 1590112 midtowng
midtowng's picture

The economy in general no longer matters to Wall Street. Only more printing.

Tue, 08/23/2011 - 10:27 | 1590153 Central Wanker
Central Wanker's picture

Weird reaction in the market, indeed...

Stock market may be pricing in more printing, but gold is not acting similarly right now. Did gold price QE3 in already earlier or is FED bying stocks?

Tue, 08/23/2011 - 10:21 | 1590102 TruthInSunshine
TruthInSunshine's picture

 

 

 

The Repression of The Bernank, bitchez!

Ben Bernank & Timmmmay Geeeeithner gave trillions to the Wall Street Elite and all we got was a looming Economic Depression.

Give them trillions more, The Bernank! Central planning FTMFL!!!

Tue, 08/23/2011 - 10:21 | 1590105 alexwest
alexwest's picture

WHAT IF B . BERNANKE GOES POSTAL,, ERRRRRRRR, GOES S&P ON MARKET and

actually  will say : GUYS, YOU'RE  ON YOU OWN..

 

WHAT WOULD MAKE A PERFECT WEEKEND..

 

alx

Tue, 08/23/2011 - 10:58 | 1590290 SheepDog-One
SheepDog-One's picture

YEP! I think everyone that has QE3 trillions safely baked in and ready for equity liftoff are about as silly as Robotrader with his calls to get all in at DOW 12,700 for debt ceiling passage market euphoria!

Ben of Friday...'Boys...Yer on yer own'.

Tue, 08/23/2011 - 10:21 | 1590106 Iriestx
Iriestx's picture

And yet the headlines read, "Wall Street Surges On Positive Economic Data"

Tue, 08/23/2011 - 11:54 | 1590508 carbonmutant
carbonmutant's picture

“Both consumers and professionals are vaccinated against bad housing news,” said Sandy Lincoln, chief market strategist at BMO Asset Management U.S" 

http://www.marketwatch.com/story/us-stocks-extend-gains-into-second-day-...

Tue, 08/23/2011 - 10:22 | 1590111 slaughterer
slaughterer's picture

QE3 got upped to 800billion in today's morning session at Jackson Hole.  The mood was somber. 

Tue, 08/23/2011 - 10:59 | 1590296 SheepDog-One
SheepDog-One's picture

800 billion? Huge dissapointment. QE3 would have to top at least $2 trillion to impress anyone at all. 

Tue, 08/23/2011 - 10:22 | 1590113 Doode
Doode's picture

Treasonous if they do another QE - let the markets work!!!!

Tue, 08/23/2011 - 10:27 | 1590157 slaughterer
slaughterer's picture

Perry, Bachmann, and all the rest do not matter--the Fed needs to stabilize markets and fulfil its dual mandate.  QE3.  Hold on to your gold. 

Tue, 08/23/2011 - 11:01 | 1590300 SheepDog-One
SheepDog-One's picture

QE3 of what though? Since 'QE3' has been priced in on every bit of bad news since January and sub-DOW 10K, I'd say QE3 has to be at least around $2.5 trillion to impress anyone at all.

I bet there is no QE, buy buying a bunch more silver today.

 

Tue, 08/23/2011 - 10:22 | 1590114 oogs66
oogs66's picture

seems like stupidity to me

Tue, 08/23/2011 - 10:23 | 1590117 cowdiddly
cowdiddly's picture

You guys beat me to it. These markets are laughable at this point. Open 200 points higher, throw out a few news bait pieces before the market opens to try to get a few suckers in. Does not work,(No one trusts the MMM anymore) then everyone storms to the exits. LOL

Tue, 08/23/2011 - 10:23 | 1590125 buzzsaw99
buzzsaw99's picture

the bernank hasn't missed a shipment yet.

Tue, 08/23/2011 - 10:24 | 1590127 vast-dom
vast-dom's picture

<--- QE3 Friday

<--- MArket CRASH Friday

 

Come on peeps lets all say on Friday my vote right here on Tues predicted this shit!

Tue, 08/23/2011 - 10:34 | 1590188 slaughterer
slaughterer's picture

DOCH QE3.

 

Tue, 08/23/2011 - 11:41 | 1590282 vast-dom
vast-dom's picture

TD let's get a track record going of 0hedge member's ability to predict heinous market events ;)

 

PS the split on our little mini-poll is interesting, to say the least. 3 to 1 says market crash Friday Jesus!

 

Oh well.......

Tue, 08/23/2011 - 11:50 | 1590483 slaughterer
slaughterer's picture

Buy to open the Aug 26th SPY 110 and 108 puts if you want.  Turn on your Bloomie: the volume is surging right now.  Today is obviously discount day for leveraged shorts who do not think QE3 comes on Friday.  I am buying as well, for hedge purposes. 

Tue, 08/23/2011 - 10:24 | 1590128 shazbotz
shazbotz's picture
Living in the collapse - Rage and Riots

http://www.youtube.com/watch?v=Gd1_JYzVisg

 


Tue, 08/23/2011 - 10:35 | 1590197 Sandy15
Sandy15's picture

What a POS video.  So sharia law isn't killing innocent women and children?  What stupid propoganda you posted.  Learn history and realize these are the people wanting to destroy America and Isreal.

Egypt and Lybia is being taken over my muslim terrorist and sharia law.  http://www.theblaze.com/stories/egyptian-protesters-outside-israeli-emba...

Tue, 08/23/2011 - 10:56 | 1590278 W T Effington
W T Effington's picture

You sure do believe a lot of propaganda. Have you ever wondered why it is a relatively recent development in history where muslims want to kill us? How many people have we killed in the name of democracy? How many muslim countries are we occupying?

Tue, 08/23/2011 - 11:44 | 1590461 snowball777
snowball777's picture

Gee, why might they want to destroy Israel? I mean, isn't Israel a peaceful country that gets along with its neighbors? Have they committed war crimes that might inspire this kind of hatred among Muslims or something?

Reap what you've sown.

Tue, 08/23/2011 - 10:24 | 1590130 Ancona
Ancona's picture

Apparently, this is bullish. I think I'll run and buy up 10,000 shares of BAC.

Tue, 08/23/2011 - 10:25 | 1590140 Iriestx
Iriestx's picture

The teleprompter says it's your patriotic duty.

Tue, 08/23/2011 - 12:03 | 1590545 Crisismode
Crisismode's picture

Wait until Friday.

 

You will be able to pick up all you want from the pink sheets.

Tue, 08/23/2011 - 10:25 | 1590133 John Law Lives
John Law Lives's picture

Headline:

----------------------------------------------------------------------------- 

Derek Kravitz, AP Real Estate Writer, On Tuesday August 23, 2011, 10:14 am

WASHINGTON (AP) -- The number of people who bought new homes fell for the fourth straight month in July, putting sales on track to finish this year as the worst on records dating back half a century.

...

-----------------------------------------------------------------------------

How big will QE3 be???

 

Tue, 08/23/2011 - 10:33 | 1590182 Ancona
Ancona's picture

That depends of your definition of big.

Beelzebernanke's idea of big is in the trillions.....

Tue, 08/23/2011 - 11:03 | 1590309 SheepDog-One
SheepDog-One's picture

QE3 wont happen....ZIRP for extended period, and bond maintenance program. No free gift of Hefty bags filled with crack rocks for Wall St. Sorry bulls.

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