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Disappointment With The Fed
From Peter Tchir of TF Market Advisors
Disappointment With The Fed
There are lots of things out there that once they have been done, can never be undone. Ben just disappointed the market for the first time. Whether he knew it or not he failed to beat expectations. He has been so good at managing expectations and using that as a policy tool he lost sight of how far ahead of itself the market had gotten. Everyone expected twist and seriously, what's a 100 billion in size between friends in this crazy market.
He downgraded the economy but didn't use that as an excuse to do more. There was no new, ingenious idea. If anything they tried to clarify the commitment to hold rates low til 2013 is dependent on economic conditions remaining weak. Yet there were still 3 dissenters.
Ben has been a fan of making markets dance to his tune based on expectations. By disappointing some people I expect his ability to keep the market up by talking will be reduced as Investors will need to see action rather than being told vaguely that there could be action. That will take time to play out and even I have to admit he gave us something today, just not enough.
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With long term bond yields heading toward zero is Bernanke trying to force investor money to stocks..??
Aside from precious metals, what else is there to buy..??
Will be interesting to see how this latest move affects the sale of physical PM's.
Stacking silver seems to be the sanest buy right now...
steve LIESman likes stocks with a 4% dividend yield and cnbs found some derelict loitering on what used to be the nyse who likes restaurant stocks. Oh yeah. Berfa coombs noted that msft was up on the day.
Seriously. This is what they show. The whole propoganda show is a daily, walking violation of the RICO act.
It would be so much easier if everyone on cnbs were named LIESman.
All but Santelli deserve collective punishment.
The FED is a private company that has presided over the destruction of the world financial system: it allowed ponzi products, it hampered regulators and it rescued failed businesses: all rather questionable for a private company (with no audit).
Europe and the rest of the World should and must take approriate action: Sue the FED: hold it to account! Stop all this 'support America bullshit and sue the mother-of-global-f...-ups: the FED (a private company)! The FED is not America - it has raped America and is now going global: the world just needs to point a finger to stop this monster!
The world must take every penny from Greenspan and barmy Ben, plus every employee of the FED (they all knew): lock them up in a jail in Iraq (now, that country knows how to treat criminals) and take their American rights away - you destroy the world, you get world treatement at lowest level!
Fuck the Fed.
he said everything you needed to hear at Jackson Hole: inflation was transitory. this was the clue that he wasn't going to due LSAP without offsetting sales - he knew of the effect QE2 had on commodities and knew he couldn't do it.
yet everyone kept making fun of him because he kept saying transitory...i just made a ton of bank because of it...too bad robots cant hear.