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Fed's Lockhart Kills Hopes Of Further QEasing
As the S&P 500 makes new multi-year highs, the USD dumps, commodities surge, and AAPL just does what it does best; The Fed's Dennis Lockhart has just 'subtly' announced the walking-back of expectations of QE3 happening anytime soon, via Bloomberg:
- *LOCKHART SAYS `MONETARY POLICY IS NOT A PANACEA'
- *LOCKHART SAYS ECONOMIC DATA HAVE BEEN `FIRM' IN LAST MONTH
- *LOCKHART SAYS HOUSING IS STABILIZING AND `ENCOURAGING'
- *LOCKHART: MONTHLY UNEMPLOYMENT RISE SHOULDN'T BE EXAGGERATED
- *LOCKHART SEES `MORE APPETITE FOR RISK'
and critically:
- *LOCKHART SAYS DISINFLATION, DEFLATION NOT NOW A CONCERN
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Apparently, the algos didn't get the memo.
It sure is strange. The SP500 just keeps on rallying like there's no crisis at all! How high will it go based on hope for printing? Is it starting to price in QE4 for when QE3 fails to work?
@Phroneo
Crazy isn't it? Like convicted criminals having one last party before reporting to the pen for a lifetime sentence.
Sorry Lockhart.....we know you're lying.
We don't print money....grandma doesn't get her SS check.
If he announced it all the insiders have sold their paper.
The Fed did the same shit in 29, warned the insiders to sell, jacked the interest rates up, the market fucked around a few months and then November 24, 1929 rolled around and the bodies started falling out of the skyscrapers.
You’re looking at a few months for the bond market to die. If 29 is the pattern look for, at best 6 months, just past the November USA election.
The issue is Gold and Silver, along with surging food prices. Confidence in the USD is falling, and check it out: This type of 'control' is all they have left. LOL. As others have said, "The fed is out of bullets".
On a daily basis I marvel at how many times I see the word "Hope" in CNBC, Bloomberg and WSJ article titles or teasers. This morning there was one talking about how markets continue to rise on "hope" that the ECB will come to the rescue "despite" the ECB saying they will not.
We have moved from the sublime to the truly stupid.
They will print, just not yet.
Wait till the Tax revenue comes in early next year, they have to print or default.....simple. They will do the former.
Lockhart doesn't like what gold is saying. Jawboning, bitches!
Because these guys know the headline scraping algos are stupid and they put the buzz word in all these headlines to keep the algos on the upslope.
*LOCKHART SAYS DISINFLATION, DEFLATION NOT NOW A CONCERN
Is this why the inflation needle WONT MOVE after seven trillion in monetization??
Or, is it this??
I wonder what now are the concerns: Bi-flation, stagflation, inflation, hyper-retardation?
All the more reason for a classic blow-off top. Enjoy it while it while lasts...because it never does...
Edit: Expect this to get EXTREMELY overbought before failing.
Maybe this is like OCT/SEP of 1979
Algos will not take note of Lockhardt until they push SPY to 144.40.
Fed's Lockhart says asset purchases remain an option; weighing all considerations regarding easing
http://headlines.ransquawk.com/headlines/fed-s-lockhart-says-asset-purch...
Yes, gold is still above 1640. Looking forward to more expensive grocery bills this Fall. Fuck you Bernanke.
Blame the drought for hight food prices.
Blame Bernanke for preserving the status quo.
Since when was any FED idiot right?
Politics trumps reason.
The only guy I like frontrunning the Fed is Bob Janjuah...
Good call Bob.
Being right but getting the timing wrong makes you... wrong.
Edit: not my red arrow for you.
Traders are understandably feeling QEasy over this news.
They will not do QEx until interest rates try to rise or the system comes close to imploding. Bernak knows he is pushing on a string at this point. He will sit on his hands until the fire is at his feet.
OK, so US real per capita disposable income will rise...uh, WHEN exactly sir?
Never....seems like a long time....how about 20 years while the stench of corruption rots out the core of the Republic. Funny how they never mention that, or mark-to-market, or zombification/Japanification.
All lies, smoke and mirrors. Does nothing for the real economy.
Are all these banks, insurance companies and pension funds solvent on a market basis? HELL NO. The bailout continues and we all pay in numerous ways. At least be honest about it, Overlord.
Where is doc engali? I'm hungry......too easy of a bet......
Right here Kito...It's not looking good, but I'm keeping the faith.
I am hanging in suspense of this turkey sandwich.
;-> LMAO Yeah me too.
Ditto.
Kito unemployment even by the garbage figures is climbing. Ben said he was there for us. He Promised!
ELAINE: Oh! I've got it! I've got it! We're calling just to say, "I'm there for you."
JERRY: "I'm there for you."
ELAINE: Then, after a period of being "there for you", we slowly remove the two words "for you", and we're just "there".
Should I go with mayo or honey mustard......hmmm......
At least this won't affect the stock market. [/sarc] Onward and upward.
The market just keeps ripping higher...yet all I can do is watch and giggle because there is NO FUCKING WAY IN HELL I'm jumping into this clusterfuck right now.
"Economic data has been firm in the last month".
Damn I was worried there, I thought we were continuing our slide downward.I'm glad we broke the trend. I think I'll run out to Best Buy and purchase some cheap Chinese crap that I don't need.
After their recent earnings announcement, I think Best Buy would be eternally greatful if you did ....
Dr Engali,
You have repeatedly ignored our warning to play nice with the others. Please report to your local FEMA retraining camp for processing.
Have a nice day. :)
Respectfully,
Your local FEMA camp administrator.
I'll be there on the second thursday of next week.
Maybe they are trying to tamp the gold price back down. Another Fed authority will come out and say the opposite tomorrow, if not later this afternoon, or whenever it suits their purposes. MOPE: Management Of Perception Economics.
Bloody Criminals!!! These people are liars and murderers, no exaggeration.
He didnt get the memo. The Adjusted monetary base is up $100B in the last 4 weeks.
No QE? Well they must know something else that will stimulate a failing economy. Think, think, think?
War bitchez!! Eureka!! Fire up the bombers, we gots some rubble we need to bounce.
lockhart?? Phhhttt...what does the real Fed, Hilsenrath, say? /sarc/
Vote democrat, buy gold.
Makes sense, but what makes you think the Republicans would do anything different?
I'm buying gold no matter who wins.
Chuck Schumer - "Get to work, Ben Bernanke".
i·ro·ny
QE was never on the table, despite the ramped up yet volume-less markets that reached multi-year highs due to rumour-buying, and that will subsequently capitulate post-Jackson Hole speech indicating that there is indeed no point for the aforementioned QE, which incidentally was never on the table, but which ironically become an issue after every asset class and equity indice return to base, due to the coordinated, yet volume-less effort, by the remainder participants who manipulate the market, using the Fed's special-rate money.
RAMROD the ES ANYWAY!
Johnny 401k needs his dope!!
*LOCKHART SAYS DISINFLATION, DEFLATION NOT NOW A CONCERN
That's where Iran comes in ...no prob!
The first couple of times that I read that I thought it said that "disinformation" was not a concern ...
that's one of the "side effects" of taking the red pill.
others include insomnia, pm cravings, hoarding, etc...
the red pill is classified as a controlled substance and thus you are a terrorist.
Which was the real fed hawk...the guy from Texas....Fisher? You know the guy that says QE does not work....remind me again how much GLD does he own?
They rig everything so it's meaningless.
true. it's a casino business model.
http://expose2.wordpress.com/2011/11/20/a-voice-from-the-dark/
The fed is doing stealth QE. They're printing to keep the market up until after the elections. Don't expect anything more until after elections.
Golly....thanks for pointing that out.
Glad I could help. Now be nice.
He has no control. Bernanke is the one with his finger on the button, and Bernanke is fractionally reserving every last unicorn tear on the Fed's book.
wall street: thank you obama for not prosecuting any of the financial terrorist. Heres your parting gift. We thank you with a ramp job to make things look so pretty when they are not. . And main street. You complete suckers. How does 97 per on crude for no reason at all feel? Thanks. Wall Street. Were laughin all the way to the bank. Literally.
He's a lying sack of chit. The Fed doesn't have to announce QE anything. They do what they want under the table and off the books anyway. It's going on this very moment. All you have to do is take a look at the stock racket, err market.
The fact that JPM took a 7 billion loss when it is leveraged 40 to 1, and is still alive, is all the proof you need that these liars are printing like crazy. The last thing they want is for anyone to know what they are really doing. Ever since the Greece default they have been throwing money out the windows. It is starting to show up in every measure of money supply they report.
My hat is off to these guys at the Fed for their short term strategy in feeding wall street greed the gasoline to fuel stock prices. Six weeks ago they start feeding QE3 and the Bernanke Put to get S&P up 60 points. They pull QE3 and S&P sets new 52 week high. All this why 1) Europe is in recession/depression, 2) Chine hard landing looks more likely and 3) fisical cliff and DEBT CEILING gets close every day as republicans and democrats piss on each other.
As they say on the business channels, all this information is known and us smart guys after already baked this into our earnings model and the market is CHEAP.....so BUY, BUY, BUY
These crazy senseless markets are signalling that something big is on its way......and I guess we won't like it at all!
Or maybe they are just signalling the inability to control the effects of what has already transpired.
Seems to me US equities is becoming the *new* bubblicious safe haven. Bonds are becoming so yesterday. Buys stocks, buy stocks!
The stock market will be the last great bubble before the day of financial reckoning imo. I hope too many people aren't hurt. Then again, that's like hoping for Obama's kind of hope. It's just wishful thinking. :-(
Dis-inflation. Deflation. Are they different?
Translation: We just printed a trillion dollars last week.
Rich Cash @richcash8Market may have just made long-term top with NDX hitting 2000 highs:
http://finance.yahoo.com/echarts?s=%5ENDX+Interactive#symbol=%5ENDX;range=my
CollapseFavorite 8:48 AM - 21 Aug 12 via web · DetailsThis means that QE3 is coming sooner ratyher than later.
*LOCKHART: MONTHLY UNEMPLOYMENT RISE SHOULDN'T BE EXAGGERATED
Is there any point mentioning that? We all know the reports are cooked ^^