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FOMC Disappoints, Evans Dissents Wants More Easing: Full September-November Comparison Redline

Tyler Durden's picture




 

While expectations were for massive LSAPs and ZIRP to the moon, headlines from the FOMC statement so far appear to be disappointing:

  • FED REITERATES `SIGNIFICANT DOWNSIDE RISKS' TO ECONOMIC OUTLOOK
  • FED TO KEEP REINVESTING HOUSING DEBT INTO MORTGAGE SECURITIES
  • FED SAYS IT'S PREPARED TO EMPLOY TOOLS TO BOOST RECOVERY
  • EVANS DISSENTS FROM FOMC DECISION, WANTS MORE ACCOMMODATION
  • FED SAYS UNEMPLOYMENT RATE TO DECLINE `ONLY GRADUALLY'

Just as JPM "predicted", we now have our first dovish dissent courtesy of Charles Evans:

  • Voting against the action was Charles L. Evans, who supported additional policy accommodation at this time.

And here is the market coma as every vacuum tube is hoping Bernanke is holding out the surprise for the 2:15pm press conference.

Full redline:

 

Bullet source: Bloomberg

 

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Wed, 11/02/2011 - 12:37 | 1837299 devilsindetails
devilsindetails's picture

push it to the limit!

Wed, 11/02/2011 - 12:40 | 1837325 rosex229
rosex229's picture

i'm actually surprised that markets had rallied on the 2.5 percent gdp print, and other non-catastrophic data since they clearly added up to the fed having to delay qe3, especially after the inflation data came out. then again the market has to wait for earnings season to end before economic and fiscal reality hit hard. corporate reality may seem quite cheery, but thats about it.

Wed, 11/02/2011 - 12:44 | 1837350 disabledvet
disabledvet's picture

Are they still rallying? Into the total collapse of the EU??????

Wed, 11/02/2011 - 12:55 | 1837403 MillionDollarBonus_
MillionDollarBonus_'s picture

I have to agree with Evans in this instance. This sluggish recovery is at risk of developing into a double dip recession without vigilant fiscal and monetary policy. Sure things look good now, but the future remains uncertain and Fed officials need to remain cautious.

Wed, 11/02/2011 - 12:57 | 1837423 lolmao500
lolmao500's picture

Things look good now? Are you on LSD or what?

Wed, 11/02/2011 - 13:03 | 1837451 SheepDog-One
SheepDog-One's picture

Seems like he's on LSD combined with peyote and an 8 ball of crack.

Wed, 11/02/2011 - 13:14 | 1837497 Conax
Conax's picture

LOL! I was feeling low and grim.. Then I read this- "Sure things look good now, but the future remains uncertain and Fed officials need to remain cautious."

MDB really is a funny guy. I think..?

 

Wed, 11/02/2011 - 13:27 | 1837560 Troll Magnet
Troll Magnet's picture

Ben is like a goddamned spoiled slut.  Everyone knows Ben wants to put (print) out but he's upset because people have been calling him a slut.  So he won't put out until they start begging him to.  In the meanwhile, I can see Ben printing out thousands and thousands of useless documents in the privacy of his home for the sake of running his printer and letting out a huge sigh.   

Wed, 11/02/2011 - 13:49 | 1837637 pods
pods's picture

Great!  Now you have ruined my image of sluts!

:)

pods

Wed, 11/02/2011 - 13:23 | 1837540 Gene8696
Gene8696's picture

Long LSD, Short Peyote... makes me vomit.

Wed, 11/02/2011 - 13:05 | 1837461 MillionDollarBonus_
MillionDollarBonus_'s picture

This kind of vulgar comment is indicative of America's loss of values. Forgive me for trying to bring some objective analysis to this discussion, but obviously logic and facts are not appreciated on this blog.

Wed, 11/02/2011 - 13:11 | 1837481 JPM Hater001
JPM Hater001's picture

I have been waiting forever to say this to someone.

Just because you can make the argument sound good does not negate the fact you are wrong.

American values have nothing to do with it.  We are all tired of you being a moron.  Here, start with learing what is real in the world:

www.chrismartenson.com/crashcourse

http://youtu.be/GTQnarzmTOc - Keyens and Hayek Fight of the century (go find (Fear the Boom and Bust" too)

Research:

CDS's

Free Market economy

Ron Paul

and stop posting until you understand why our fractional reserve banking system is a joke.

Did I miss anything anyone?

Wed, 11/02/2011 - 13:16 | 1837510 Troll Magnet
Troll Magnet's picture

Pass the bong, MDB.  People will appreciate you more.

Wed, 11/02/2011 - 19:55 | 1839231 JPM Hater001
JPM Hater001's picture

Here here!

No, really, pass it over here.

Wed, 11/02/2011 - 13:15 | 1837506 Tsunami Wave
Tsunami Wave's picture

@MillionDollarRetard - Are you a professor at an ivy league university or some kind of academic?

Wed, 11/02/2011 - 13:17 | 1837514 goldfreak
goldfreak's picture

who asked you to bring anything. Leave it home with you

Wed, 11/02/2011 - 13:27 | 1837558 mayhem_korner
mayhem_korner's picture

Forgive me for trying to bring some objective analysis to this discussion

 

As soon as you do, we'll forgive you.  Waiting...

The only question in my mind is whose payroll you're on, MDB.  Your comments are like throw-away scripts from the Berkeley debate team...

Wed, 11/02/2011 - 13:55 | 1837658 cranky-old-geezer
cranky-old-geezer's picture

 

 

Forgive me for trying to bring some objective analysis to this discussion, but obviously logic and facts are not appreciated on this blog.

What objective analysis?  What logic and facts?   I haven't seen any.

Wed, 11/02/2011 - 15:35 | 1838237 nyse
nyse's picture

You must die laughing reading the responses to your comments. You are truly hilarious. Keep it up, please.

Wed, 11/02/2011 - 15:43 | 1838278 Raging Debate
Raging Debate's picture

Do stick around Million. The good outweighs the bad and it is wild west fun. Not many frontiers to see at least for a few years anyways. Plus Internet is good buffer for suffering abuse from time to time but I always thought it prudent to laugh at myself also.

Wed, 11/02/2011 - 18:53 | 1839047 knukles
knukles's picture

Grow the fuck up.

Wed, 11/02/2011 - 13:44 | 1837622 Manthong
Manthong's picture

It's all good for some folks after a ghetto bulb of meth.

http://www.bluelight.ru/vb/archive/index.php/t-38494.html

 

Wed, 11/02/2011 - 12:57 | 1837427 dlmaniac
dlmaniac's picture

Dissent: a trick of good cops & bad cops

Wed, 11/02/2011 - 13:02 | 1837445 Richard Chesler
Richard Chesler's picture

Driving 90MPH while using only the rear view mirrow.

Fun. fun. fun.

 

Wed, 11/02/2011 - 13:04 | 1837455 jfms99
jfms99's picture

We have been in depression of sorts for over 10 years curtesy of the Fed and federal Government and you have confidence they can fix it?

Wed, 11/02/2011 - 13:09 | 1837477 wisefool
wisefool's picture

MDB is honeypot counter reverse troll. Robo is a straight up troll. But you are right, we are just starting on the Japaneese path, and yes it was brought to us by central planners. Community Re-Investment Act, repeal of Glass Stegal, NAFTA, The 70,000 page tax code that basically tells people the only things the economy needs, even though there is crap in there like taxes implemented as part of the spanish american war. (the "remember the Maine" one, not the fast and furious one.)

Wed, 11/02/2011 - 13:09 | 1837478 FL_Conservative
FL_Conservative's picture

If I agreed with you and Evans....then we'd all be wrong.  There cannot be additional LSAP without driving commodity prices and, resultingly, inflation significantly higher.  The Fed's already printed overall inflation up to a 4% annual rate, with the average family's food bill going up over 6% and energy costs up over 19%.  The last I checked it's not part of the Fed mandate to keep the stock market freshly painted.

Wed, 11/02/2011 - 13:14 | 1837488 Libertarians fo...
Libertarians for Prosperity's picture

 

 

@MillionDollarBonus

As a libertarian, not only do I disagree, I think you're a cock-sucking-statist asshole who should rot in hell with your Keynsian buddies.  Lemme tell ya something, you spout that nonsense down here in Texas, and it'd get real ugly real fast for ya.  Best stay in San Franscisco with your other progressive fags.  

The only viable solution is to crash the entire system.  It may prove to be difficult for the "sheep" who are too busy living life to pay attention, but that's their fault.  We need to have 25-30 years of extreme survival-of the-fittest hardship, but, in the end, it'd be worth it.  Sometimes civilization needs to burn to the ground to sow new seeds of growth.   

As for me.... guns, gold, and cans.  Fuck 'N A, I'm ready.  Bring it.

 

 

Wed, 11/02/2011 - 13:18 | 1837512 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

25 years?  You won't last that long.  And why would you think Libertarians think of economic collapse as an apacolypse?  An economic collapse will be refreshing, as it will purge us from the usury of the Banking Houses.  Have a little faith in humanity, we shall overcome.

Wed, 11/02/2011 - 13:23 | 1837539 Libertarians fo...
Libertarians for Prosperity's picture

 

 

What?  I agree.  An economic collapse of the entire banking system would be very refreshing.  Just the thought of the "sheeple" losing everything is incredibly invigorating.

Guns, gold, cans, butter, bitches.

 

Wed, 11/02/2011 - 13:28 | 1837568 fuu
fuu's picture

Fail more.

Wed, 11/02/2011 - 13:31 | 1837577 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The people will gain tremendously from not paying 35% of their living wages to an insidious Global Banking Cartel.  We don't need banks, banks need us.

Wed, 11/02/2011 - 14:08 | 1837710 cranky-old-geezer
cranky-old-geezer's picture

 

 

Sheeple losing everything?

I don't think so. 

Ok granted, any stupid sheeple with their wealth in bank accounts / bank safe deposit boxes / bank stocks / dollars / treasuries / etc would lose it all.  Like you perhaps?

Economic collapse of the banking system?

It wouldn't be economic collapse of the banking system.  It would just be collapse of the banking system.  The economy is a separate thing.

But don't worry, your beloved banking system won't be allowed to collapse.  Ben will print and print and print to keep bailing it out.

...which incidentally will steadily debase the currency, steadily steal more wealth from the sheeple, steadily push more of those sheeple toward poverty, which might have downward effect on the economy.

In fact it already has.  The depression (not recession) we're in now was caused by bailing out your beloved banking system.

Wed, 11/02/2011 - 15:14 | 1838135 Libertarians fo...
Libertarians for Prosperity's picture

 

 

It wouldn't be economic collapse of the banking system.  It would just be collapse of the banking system.  The economy is a separate thing.

Yep.  I agree. I mispoke.  The economy and the banking system are mutually exclusive.  The economy would do just fine without capital markets and banks. 

Ron Paul 2012

Wed, 11/02/2011 - 16:05 | 1838386 fuu
fuu's picture

I am going to a RP rally on Saturday. I will be bringing a sign that says, "Libertarians for Prosperity Love Ron Paul". I knew that would make you happy.

Wed, 11/02/2011 - 13:18 | 1837520 Tsunami Wave
Tsunami Wave's picture

@Red Neck Repugnicant/Texas Gunslinger/Libertarians for Whatever - Huh?

Wed, 11/02/2011 - 13:27 | 1837561 fuu
fuu's picture

You lie more than a politician.

Wed, 11/02/2011 - 13:20 | 1837525 blindman
blindman's picture

print and give it out in bonuses! make it large so
the bonuses will cover adoption of the homeless,
the funny thing is that might work in a fiat sort of
way. the bankers could then adopt a town here and there
and adopt a bridge and highway, adopt a trucking company,
adopt a gas station, etc... you get the idea.

Wed, 11/02/2011 - 12:52 | 1837394 Nascent_Variable
Nascent_Variable's picture

To a herd of cattle, everything looks like a bull.

Wed, 11/02/2011 - 12:47 | 1837364 Beatscape
Beatscape's picture

Is this Fed-speak for 'we're going into over-drive to manipulate the gold and oil markets downward'?

 

<<The Committee also anticipates that inflation will settle, over coming quarters, at levels at or below those consistent with the Committee's dual mandate as the effects of past energy and other commodity price increases dissipate further.>>

Wed, 11/02/2011 - 12:49 | 1837374 Sequitur
Sequitur's picture

 

 

Banker bullshit:

Policy accomodation: printing

Quantitative easing: printing

Stimulus: printing

Measures: printing

Tools: printing

Wed, 11/02/2011 - 13:13 | 1837493 Randall Cabot
Randall Cabot's picture

 

 

His name is Ben Bernanke

He's the head of the Federal Banky

He loves thin air

He prints money from there

And from Nathan he gets a big thanky.

Wed, 11/02/2011 - 13:30 | 1837574 mayhem_korner
mayhem_korner's picture

 

 

Repeat post.  Doesn't fit the rhythmic meter the way it should (see The Limerick King).

Wed, 11/02/2011 - 12:38 | 1837300 Cassandra Syndrome
Cassandra Syndrome's picture

Central Planning Bitchez

Wed, 11/02/2011 - 12:39 | 1837304 GeneMarchbanks
GeneMarchbanks's picture

*FED SAYS IT'S PREPARED TO EMPLOY TOOLS TO BOOST RECOVERY

*EVANS DISSENTS FROM FOMC DECISION, WANTS MORE ACCOMMODATION

 

Yay! Right? yay... sigh   ...

 

Wed, 11/02/2011 - 12:38 | 1837305 lapedochild
lapedochild's picture

I'd be ok with boosting a 'recovery' not with tryining to maintain an illusion

Wed, 11/02/2011 - 12:47 | 1837371 smlbizman
smlbizman's picture

cristina romer has a pee hole in her underwear....what a fucking pigfaced piece of shit....

Wed, 11/02/2011 - 13:04 | 1837460 SheepDog-One
SheepDog-One's picture

Yep Christina Romers underwear got dick holes in em.

Wed, 11/02/2011 - 13:36 | 1837597 blunderdog
blunderdog's picture

Aw, what?!?  I thought that was Chaz Bono!

Wed, 11/02/2011 - 12:38 | 1837306 catacl1sm
catacl1sm's picture

More Printering!

Wed, 11/02/2011 - 12:38 | 1837307 bnbdnb
bnbdnb's picture

Bullshittish.

Wed, 11/02/2011 - 12:38 | 1837308 junkyardjack
junkyardjack's picture

Wamp Wamp Wamp.  S&P has to be 900 before they will hit print again.  They told the market what it needs to do, let's go

 

"The Committee also anticipates that inflation will settle, over coming quarters, at levels at or below those consistent with the Committee's dual mandate as the effects of past energy and other commodity price increases dissipate further. However, the Committee will continue to pay close attention to the evolution of inflation and inflation expectations"

Wed, 11/02/2011 - 12:40 | 1837320 Cassandra Syndrome
Cassandra Syndrome's picture

And the dollar index needs to go to up to the high 80s too. but I doubt this time that will be achieved when the S&P sinks to the triple digits and the Dow falls into the quad digits.

Wed, 11/02/2011 - 12:38 | 1837309 qussl3
qussl3's picture

Now for Draghi to cut.

Wed, 11/02/2011 - 12:38 | 1837311 bernorange
bernorange's picture

Pretty much what I expected.  They will keep their options open, but no QE for now.

www.pmbug.com

Wed, 11/02/2011 - 12:39 | 1837312 Blorf
Blorf's picture

MUST REACH ASSET CORRELATION OF ONE.

Wed, 11/02/2011 - 12:39 | 1837315 pods
pods's picture

If things don't get better, we will act.  Rolling FOMC statement.

"Free Beer Tomorrow."

pods

Wed, 11/02/2011 - 12:40 | 1837318 Johnny Yuma
Johnny Yuma's picture

- TOOLS TO EMPLOY LIMITED AS INFLATION HAS FED BY THE BALLS

Wed, 11/02/2011 - 13:07 | 1837469 SheepDog-One
SheepDog-One's picture

OH but theyre pretty sure over the next several hundred quarters or so that inflation will just magically go away. 

Better buy the popcorn in the 55 gallon drum size.

Wed, 11/02/2011 - 12:40 | 1837323 dracos_ghost
dracos_ghost's picture

And these snippets:

 

-- MF Global is fine, so shut up... Wait, they already announced bankruptcy -- never mind.

-- The Greek Referendum will be a good thing.

-- The Fed has stuff to sell on eBay. Get the word out.

 

Friggin' nonsense. Would have better to post a single link to the last FOMC minutes and save time.

 

Wed, 11/02/2011 - 12:41 | 1837330 GoinFawr
GoinFawr's picture

Heh, well that sure fucked with the algo's

Wed, 11/02/2011 - 13:08 | 1837471 SheepDog-One
SheepDog-One's picture

Yep, dropped the DOW all the way to +170 from +210.

Wed, 11/02/2011 - 13:17 | 1837519 GoinFawr
GoinFawr's picture

did you blink?

Wed, 11/02/2011 - 12:42 | 1837335 Yogibear101
Yogibear101's picture

10 years of easing, FOMC once again confirms a bad economy and bear market.

Wed, 11/02/2011 - 13:09 | 1837475 SheepDog-One
SheepDog-One's picture

BUT theyre pretty sure over the coming several hundred quarters there will be signs of improvement.

Wed, 11/02/2011 - 13:20 | 1837529 Troll Magnet
Troll Magnet's picture

well, i hope they're silver quarters at least.

Wed, 11/02/2011 - 12:42 | 1837336 Cognitive Dissonance
Cognitive Dissonance's picture

Uummmm

Houston, we have a failure to launch. Major Ben, make sure to eat your fiat and put your crash helmet on.

Wed, 11/02/2011 - 13:08 | 1837472 bigdumbnugly
Wed, 11/02/2011 - 12:43 | 1837342 hyper-critical
hyper-critical's picture

Calm before the storm...

Wed, 11/02/2011 - 12:43 | 1837346 unionbroker
unionbroker's picture

apparently someone thinks this is good news

Wed, 11/02/2011 - 12:48 | 1837349 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

This is total BS.  No new easing but they will continue to stockpile MBS like rednecks their spam, and they are holding rates near zero at the same time.  Inflation is down because deflation is massive.  Look at the housing market, Americans biggest investment; it is down huge over the summer, when housing is at its peak.

If deflation is massive, and deflation>inflation, even by a little, inflation is massive.  They are easing ad infinitum.

Lies and more lies from the one and only Fiat Ponzi frontmen of the Federal Reserve.

Wed, 11/02/2011 - 12:49 | 1837384 disabledvet
disabledvet's picture

How massive is this deflation? 30...40%? Across the board?

Wed, 11/02/2011 - 13:13 | 1837495 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Housing, GDP, spending, etc are all down dramatically.  Lets say deflation is at 25%.  With nominal inflation at 10% (modest figure) that would mean real inflation is pushing 35%.  This makes since when one considers the only real gains in the market have come from real assets, ie precious metals/oil.  What have PMs gained YoY for the last decade (approximately)? 

35%

Wed, 11/02/2011 - 12:43 | 1837351 OMG
Wed, 11/02/2011 - 18:59 | 1839069 knukles
knukles's picture

Of course he would, he's gay.
Jesus.

Wed, 11/02/2011 - 12:44 | 1837352 kengland
kengland's picture

"Fed Disappoints"

 

Did you not just an hour ago post a JP Morgan piece that said to expect nothing? If they did nothing, how is that disappointing?

  • "FED SAYS IT'S PREPARED TO EMPLOY TOOLS TO BOOST RECOVERY "
  • Feel free to get right on on in front of that.

    Wed, 11/02/2011 - 12:44 | 1837353 Deadpool
    Deadpool's picture

    they have been QE'ing of late. Each Treasury auction is met with Fed bidding, creating miracle currency units for the Treasury to spend on trains to nowhere. that's QE LTE.

    Wed, 11/02/2011 - 12:44 | 1837354 LynRobison
    LynRobison's picture

    Come on Benny Boy, you know you want to! Stop hesitating! Hit that print button!

    Wed, 11/02/2011 - 12:44 | 1837355 marcusfenix
    marcusfenix's picture

    markets to go splat?

    Wed, 11/02/2011 - 12:49 | 1837380 junkyardjack
    junkyardjack's picture

    I almost wouldn't be surprised if the markets rally on this...

    Wed, 11/02/2011 - 12:56 | 1837417 fuu
    fuu's picture

    Things are looking up like green shoots on a hot summer day!

    Wed, 11/02/2011 - 12:46 | 1837362 NOTW777
    NOTW777's picture

    LOL  forked tongue - things are improving but we have the bazooka loaded

    after years of zero interest rates with no real improvement we plan on staying the course

    Wed, 11/02/2011 - 13:11 | 1837484 SheepDog-One
    SheepDog-One's picture

    No improvement after years of the most radical economic emergency measures in all time history...but we're fully prepared to stay the course and just wait it out as america suffers in all time record unemployment, foreclosures, and bankruptcy....after all we're billionaires, suckers.

    Wed, 11/02/2011 - 12:47 | 1837363 SDRII
    SDRII's picture

    Then again the gadfly Posen "we need to print" of the BOE worked at the Fed for years.

    http://www.bankofengland.co.uk/about/people/biographies/posen.htm

    Wed, 11/02/2011 - 12:47 | 1837366 thechainrule
    thechainrule's picture

    Ben, I'm sorry but you have already been priced in for the day. We are already up 200 please come back tomorrow.  

    Wed, 11/02/2011 - 12:47 | 1837370 MFL8240
    MFL8240's picture

    More bullshit from the clown show!

    Wed, 11/02/2011 - 12:48 | 1837372 Peter K
    Peter K's picture

    Rate expectations on EUR/USD have flipped. Theme going into new year and beyond will be "Sell, Mortimer Sell";)

    Wed, 11/02/2011 - 12:49 | 1837377 JW n FL
    JW n FL's picture

     

     

  • Exclusive: Glenn Beck's Golden Advertiser Under Investigation   abcnews.go.com › Investigative UnitSimilar You +1'd this publicly. Undo

    Jul 19, 2010 – Authorities in California said today they have opened an investigation into Goldline International, a company that pioneered the practice of ...

  • Glenn Beck: Glenn Beck's Golden Advertiser Accused of 'Rip Off ...   abcnews.go.com › Investigative UnitSimilar You +1'd this publicly. Undo

    Jul 20, 2010 – An executive with Goldline, one of two gold companies now ...

  • Wed, 11/02/2011 - 13:22 | 1837541 afdestruction
    afdestruction's picture

    Can't really feel bad for people who got ripped off while listening to Glenn Beck

    Wed, 11/02/2011 - 12:49 | 1837382 JohnG
    JohnG's picture

    "As autumn progresses, we expect leaves to fall from the trees at a moderate pace, it will either rain or not rain in the coming quarter.  We will continue to monitor the situation.  Oh, and the sun may rise in the morning, but we aren't sure....."

     

    [yawn]

    Wed, 11/02/2011 - 12:50 | 1837386 Quinvarius
    Quinvarius's picture

    I thought they might just admit they had to buy a bunch of the 800B borrowing announced today and take the pop.  They have to buy most of it anyway.

    Wed, 11/02/2011 - 12:50 | 1837387 Saxxon
    Saxxon's picture

    I missed the last wave.  Please take SPY back to 124...

    Wed, 11/02/2011 - 12:50 | 1837388 khakuda
    khakuda's picture

    Charles Evans dissented and launched into a crazed, sugar induced rant, after having gorged on Halloween candy stolen (his words, wealth redistributed) from his kids, before being subdued by an insulin injection from the Chairman.

    Wed, 11/02/2011 - 12:51 | 1837391 NOTW777
    NOTW777's picture

    nonstop talk at cnbc of "improving" economy

    Wed, 11/02/2011 - 12:54 | 1837406 Mike2756
    Wed, 11/02/2011 - 12:57 | 1837424 NOTW777
    NOTW777's picture

    things "improving" for primary dealers, foreclosure specialists and the food stamp industry

    Wed, 11/02/2011 - 12:51 | 1837393 i_dont_see_no_bubble
    i_dont_see_no_bubble's picture

    Tool that is still in the playbook:

    Fed to sell Monster High Dolls with $1 per going into a special fund to cure cancer and eliminate the deficit.

     

    Wed, 11/02/2011 - 12:53 | 1837399 long-short
    long-short's picture

    hmm--if i watch for long enough, perhaps the paint will actually dry.

    waiting for the usual slowmo market decline to begin once todays latest rounds of bad news are "digested".

    tho, as always, lately, EUR/$ is reacting a little more rapidly...

     

    Wed, 11/02/2011 - 13:16 | 1837511 long-short
    long-short's picture

    bafflingly slowmo market decline barely "accelerates" as EUR/$ legs down again.  

    who on earth is propping up stocks at these levels tho?  

    or we bracing for a relief rally in response to less horrible news than usual? 

    Wed, 11/02/2011 - 12:54 | 1837405 Phat Stax
    Phat Stax's picture

    whoops... too late!  The new restaurant menus have already been printed.

    Wed, 11/02/2011 - 12:55 | 1837407 YesWeKahn
    YesWeKahn's picture

    Screw you evans! order your own printer next time idiot!

    Wed, 11/02/2011 - 12:56 | 1837414 Matt1973
    Matt1973's picture

    ES Rolling Over..........

    Wed, 11/02/2011 - 12:57 | 1837421 Zymurguy
    Zymurguy's picture

    Infinity just announced a new car called the Infinity-QE.

    It's incredibly expensive but with a specially arranged Federal Reserve Bank loan at 0.1% and no money down you can now drive the car of your dreams, regardless of whether you can afford it or not.

    Special clauses in the loan allow you to take out subsequent low interest long term loans that will provide you with enough cash to make the monthly payments so there's no risk - it's practically free money.

    After you have it paid off and the long term loans start to come due the Fed' will allow you to borrow even more and low rates for longer terms.

    It's a WIN WIN WIN, now get out there and drive away in your new Infinity-QE today!!!!!!!!!!!

    Wed, 11/02/2011 - 13:02 | 1837442 Racer
    Racer's picture

    Isn't that just exactly how they run the countries!

    Wed, 11/02/2011 - 13:50 | 1837641 Zymurguy
    Zymurguy's picture

    Yeah... I think you get it... Infinity-QE.... QE1, QE2, QE3, QE-Infinity!!!

    Wed, 11/02/2011 - 12:59 | 1837432 FatFingered
    FatFingered's picture

    What is going on with silver?  It is flat lining!  12:54 ish.

    Wed, 11/02/2011 - 13:02 | 1837448 Deadpool
    Deadpool's picture

    $1.50 is a great move...think about the fact that 20 years ago 1oz gold cost less than 1oz silver does today.

    Wed, 11/02/2011 - 13:27 | 1837562 GeezerGeek
    GeezerGeek's picture

    20 years ago it was 1991. I didn't see any gold for sale at that price back then. Wasn't $250 (or thereabouts) the low point in the late 1990s? You should have said 78 years ago.  When Roosevelt confiscated gold, holders got paid $20.67 per ounce. Gold was then revalued to $35/ounce. http://www.blanchardonline.com/beru/confiscation_1933.php

    Bad facts make for bad decisions, even if they make good stories.

    Wed, 11/02/2011 - 13:31 | 1837578 Deadpool
    Deadpool's picture

    ok, back when you were 10...

    Wed, 11/02/2011 - 13:04 | 1837456 Matt1973
    Matt1973's picture

    $ up, Euro gains are washing away...let's see sub 1.36

    Wed, 11/02/2011 - 13:04 | 1837457 xtop23
    xtop23's picture

    Im actually glad its holding up this well - If we maintain support above 32-33 were prepped for a nice move up

    Wed, 11/02/2011 - 13:13 | 1837490 junkyardjack
    junkyardjack's picture

    Last time in crashed hard the day after the Fed's no announcement announcement.  Make sure you've got a whole lot of wiggle room

    Wed, 11/02/2011 - 13:23 | 1837546 Conax
    Conax's picture

    Shorting the living shit out of silver is one of their 'tools' for the recovery, IE, to keep the dim bulbs out of PMs. It would be cool to know what the balanced, real price of silver would be by now without all these patriotic interventions.. I'd suspect about 50 right now.

    Wed, 11/02/2011 - 13:01 | 1837440 LongSoupLine
    LongSoupLine's picture

    Inside the meeting:

    BB - "Ok, now that the pizza's gone, we need to come up with something or Jamie and Lloyd are gonna be pissed."

    Board - crickets chirping

    BB - "Well, here's the deal, we aren't gonna drop the QE3 bomb yet because QE Ninja is working brilliantly.  So to counter this whole Europe thingy, one person here will call for more QE.  That way the market keeps it's hopium ramp going.

    Evans - "Ohhhh, goodie!  I drew the straw!"

    Wed, 11/02/2011 - 13:02 | 1837444 RobotTrader
    RobotTrader's picture

    Another non-event.

    The bull market continues.

    Wed, 11/02/2011 - 13:14 | 1837498 SheepDog-One
    SheepDog-One's picture

    'Bull market' is declared by MomoFader with markets at mid 1990 levels....gee cant you do better than that, retard?

    Wed, 11/02/2011 - 13:15 | 1837508 d00daa
    d00daa's picture

    omfg you are such a fucking clownshow, bull market lmfao just when you think momo can't look any more foolish..

    Wed, 11/02/2011 - 13:17 | 1837515 LongSoupLine
    LongSoupLine's picture

    Whew...I'll say it again robo.  I've seen bad trolls in my day, but you are an utter train wreck.

    Wed, 11/02/2011 - 13:25 | 1837553 afdestruction
    afdestruction's picture

    Uhhhh the Dow just dropped 100 points, dumbass

    Wed, 11/02/2011 - 13:49 | 1837638 Falcon15
    Falcon15's picture

    I notice how you are conspicuously absent when the DJIA drops 500 points over 2 days. Troll. Go play in traffic. Bull market my left eye.

    Wed, 11/02/2011 - 13:52 | 1837650 Zymurguy
    Zymurguy's picture

    C'mon guys, you gotta love Robo's.... avatar :)

    We love ya' Robo, keep 'em coming.

    Wed, 11/02/2011 - 13:03 | 1837453 walküre
    walküre's picture

    Paper gold has been trying to create the "safe haven" illusion all week.

    Good luck maintaining that illusion when Greece defaults and Italy starts neglecting their payment schedule.

    What's the real price of gold these days?

    Could be $500 /oz or $5000 /oz and depends solely how motivated a seller is to part with his/her stash and how eager a buyer is to own phys.

    Wed, 11/02/2011 - 13:05 | 1837464 NotApplicable
    NotApplicable's picture

    FED SAYS IT'S PREPARED TO EMPLOY TOOLS

    Between Greenspan and Bernanke, isn't it too late?

    Wed, 11/02/2011 - 13:19 | 1837526 long-short
    long-short's picture

    that was a typo.

    CORRECTION: FED SAYS MEMBERS ARE TOOLS LOOKING FOR EMPLOYMENT...

    Wed, 11/02/2011 - 13:47 | 1837631 Falcon15
    Falcon15's picture

    LOL I thought the same thing, in fact posted a comment before I read yours. LMAO! +1 for GMTA.

    Wed, 11/02/2011 - 13:52 | 1837645 Taffy Lewis
    Taffy Lewis's picture

    Better get my glasses; I thought it read:

    FED SAYS IT'S PREPARED TO EMPLOY TROLLS

    Too much of MDB and Robo already today.

    Wed, 11/02/2011 - 19:02 | 1839085 knukles
    knukles's picture

    Yes, is true.  They announced publicly several weeks ago that they were going to employ people to blog/comment/spew rubbish on their behalf in order to correct the imperfect perceptions of their August Institution.

    Good Fucking Luck
    LOL

    More fodder for scorn and humiliation.

    Jesus

    Wed, 11/02/2011 - 13:55 | 1837661 Zymurguy
    Zymurguy's picture

    No they meant "it's prepared to employ MORE tools."  There's just not enough of Ben to go around.

    Wed, 11/02/2011 - 14:05 | 1837699 blunderdog
    blunderdog's picture

    Most of the people employed by the Fed are tools already.

    Wed, 11/02/2011 - 13:08 | 1837467 Yen Cross
    Yen Cross's picture

     As usual ! Z/H has the bead on the markets. I was doing a little research and came across this nugget !  http://www.zerohedge.com/contributed/qe-3-will-only-come-catastrophe

     

      Another tidbit; http://seekingalpha.com/instablog/948480-peter-tchir/212573-qe3-what-s-n...

    Wed, 11/02/2011 - 13:12 | 1837487 Tsar Pointless
    Tsar Pointless's picture

    Consdering the S&P completed a perfect 50% retrace of the move down from the 1292 top to yesterday's pre-market low of 1211 - stopping at 1242 this morning - I'd say this sucker is goin' down down down.

    It's goin down down down. It's goin down DOWN down down. It's goin down, hey, boo-bop-a, un-na-ney. Or something like that.

    Wed, 11/02/2011 - 13:16 | 1837509 SheepDog-One
    SheepDog-One's picture

    Im not long here, thats for damn sure. The Maniacal Monetizers can have it. Im ordering 55 gallon drum size popcorn kernels to wait out this clownshow.

    Wed, 11/02/2011 - 13:31 | 1837579 walküre
    walküre's picture

    Should order drums of fuel instead.

    Wed, 11/02/2011 - 19:05 | 1839091 knukles
    knukles's picture

    Bi-polar solution: ethyl alcohol (aka booze) & popcorn....
    Every survivalist knows that man can live by alcohol and popcorn alone.

    Wed, 11/02/2011 - 13:15 | 1837505 blindman
    blindman's picture

    @ " downside risk.." yea, that's right.
    the risk is that the money system is like a
    blood sucking proboscis from the cold heart of
    a sea monster that sucks the life out of all
    life forms, including its own squid species, with
    no concern for anything. the beast feeds on
    its own freakin' offspring for christ sake.
    yea, i see a down side risk too,
    and it is disappointing. killer clowns from hell!!
    throw in the towel before you start wwIII and become
    forever associated with the destruction of all life on
    earth. Klowns !!! think of your offspring and the hell
    you are perpetuating.

    Wed, 11/02/2011 - 13:19 | 1837524 monopoly
    monopoly's picture

    ZZZzzzzzzzzzzz

    Wed, 11/02/2011 - 13:24 | 1837545 monopoly
    monopoly's picture

    Well, looks like the quants are not happy about this. 

    Wed, 11/02/2011 - 13:25 | 1837550 blindman
    Wed, 11/02/2011 - 13:28 | 1837567 blindman
    blindman's picture

    http://maxkeiser.com/2011/11/02/giabo-baby-and-its-all-good/#comment-399365
    GIABO! BABY and IT’S ALL GOOD!!!
    .
    http://geraldcelentechannel.blogspot.com/
    Tuesday, November 1, 2011
    We Are On the Edge of World War III - Lyndon LaRouche
    .
    A Warning by Lyndon LaRouche : we Are On the Edge of World War III - A speech by Lyndon
    LaRouche about the British Empire (Wallstreet and Lombardstreet) and a soon coming WW
    III! mixed with own Impressions. A serious charge against the banksters and their
    "evil Empire"! unfortunately this means that more than likely, humanity is
    about to learn once again some very harsh lessons that only suffering immensely
    illustrate. WW in this age will mean Billions die and suffer unimaginable horrors. On
    Saturday morning Lyndon LaRouche discussed the threat of a British-sponsored World War
    III, stating that the Middle East is the new Balkans; the trigger point has been
    carefully set up, and as the fuse is burning down on the financial resources to carry out
    that operation, the time for that operation to be launched, or defeated, is now.This is
    bad, bad stuff; I pray that cooler heads and that God prevail. ? As a 2nd front, like the
    invasion of Sicily which took Germany's attention off of Kursk; Pakistan can easily cut
    the US supply lines and perform a pincer movement to cut-off 200K US troops up in that
    hellhole Afghanistan, a modern day Stalingrad, the grave of the German 6th Army, possibly
    the grave of the USA.
    ,,
    now back to your regular programming.

    Wed, 11/02/2011 - 15:53 | 1838327 blunderdog
    blunderdog's picture

    Don't worry.  Israel's gonna take care of Iran, and everyone knows they're the only force of evil on Earth at this time.

    So once they mop up MENA, everything'll be back to normal.

    Wed, 11/02/2011 - 13:45 | 1837624 Falcon15
    Falcon15's picture

    When I read "The Fed says it is prepared to employ tools". The first thing that popped into my head is Bernake and his cronies are a buncha tools. Death spiral of an economy. Amazing.

    Wed, 11/02/2011 - 18:29 | 1838957 Bansters-in-my-...
    Bansters-in-my- feces's picture

    And the "free markets" rally.

    While Rome burms.

    WTF.OR SHOULD i SAY PPT.?

    Wed, 11/02/2011 - 18:48 | 1839016 Bansters-in-my-...
    Bansters-in-my- feces's picture

    mILLIONdOLLARbONUS.

    You sir are a fucking piece of puppet shit,now stop clinging on to ZeroHedge and FUCK OFF.

    Take a dip in the toilet bowl,FuckTard.

    Wed, 11/02/2011 - 23:24 | 1839794 SHEEPFUKKER
    SHEEPFUKKER's picture

    Exactly how can the 10y be at 2% if no printing has been taking place? The Ben Bernanke has been printing the whole time. And exactly how can the national debt be inflated away with low inflation? It's all smoke in mirrors. The official announcement will come when he damn well feels like it.

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