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Good Is Bad (Again) As Beige Book Belies Optimism
The market does not seem ecstatic with the relative positivity from the Fed's Beige Book - good news is bad it seems (check to Draghi) - as via Bloomberg:
- *FED DISTRICTS SAW ECONOMY GROWING `GRADUALLY' IN JULY, AUGUST
- *FED SAYS MOST DISTRICTS SAW STABLE PRICES FOR FINISHED GOODS
- *FED SAYS `UPWARD WAGE PRESSURE' WAS `VERY CONTAINED'
- *FED SAYS REAL ESTATE MARKETS `GENERALLY SAID TO BE IMPROVING'
- *FED SAYS SIX DISTRICTS SAID ECONOMY EXPANDED `AT A MODEST PACE'
- *FED SAYS MOST DISTRICTS SAW INCREASE IN RETAIL SALES
- *FED SAYS BANKERS IN SIX DISTRICTS SAW RISING LOAN DEMAND
with the world cloud sending positive signals (Via the Fed)... Sales, demand, activity growth... this will never do if we are going to get NEW QE
We are sure soon enough somone will be on to point out just how bad things really are... we need our Kool Aid.
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Natch, cuz NOT bad econ news IS bad QE 3 news. So much for market forces. It's all medication and manipulation forces in these "free" markets!
Is that the "Laugh-In" font?
Sock it to me!
It's The Bernanke Show, and these are just teasers to get you to tune in!
The hell with price discovery, put down your iPads, pull up a chair and have your popcorn ready!
Ah, for the good ol’ days, when central banker could be good-bad, but not evil.
Nowadays, it just pure evil.
http://www.youtube.com/watch?v=gOdP_VvPKHU
er.. Volcker had thick, wavy hair didn't he? oh, never mind.
Just doing God's work
http://dailybail.com/home/letter-from-satan-dear-brother-corzine.html
Beige Book is now the Brown Book. Smells like it too!
Hey, FED DISTRICT, put the damn DOOBIE down and take another look. Assholes!
BTFD!!
Drink your kool-aid boys and girls!
Tastes good right?
QE3 when it will be far too late.
Fed still pulling the wool over its own eyes. July economic news was nothing but a shit sandwich with a little mustard to coat the taste heh.
There is no solution. The only option left is for Primary Dealers to keep buying stocks.
Cocainated Easing will NOT bring suckers into the market, period. That is the whole point of anything, luring suckers. No chance.
Let them buy stocks until:
- They buy all market (if not already occured), no different from 2008
- Run out of money, same as MFG.
The weakest link of Primary Dealers will have to collapse in order to crap the market. No other solution. Suckers have run out of money.
NO QE3????? Oh no!!!
Obama, Geithner & Krugman are firing off terse emails to The Bernank demanding that he not take comfort in what likely is a false flash of recovery and that he announce his intentions of printing away even more thusly (and thrust-ly) at J-Hole on Friday...
It seems to me the media isn't selling all this good news as hard as it has been for the last 3 years. I wonder why? Not really, I know why, but it is interesting to watch it play out.
September 20, 2012, Malibu, CA- After yesterday’s DJIA 18 point drop, investor’s fears were calmed earlier today, as details continued to emerge regarding Operation TotCon and the impending IPO of the Federal Reserve Bank (symbol: JACK). In a prepared statement, CEO Ben Bernanke assured investors that, while the move may have caught many out-of-the-loop market watchers by surprise, the mission of the newly formed public entity would not stray from its current evolutionary path. “JACK will continue to explore new methodologies to fulfill its multi-pronged mandate of surplus cyber-currency creation, equity market magnanification, zero-fee balance sheet enhancement products, and issuance of prepared statements to calm investor’s fears,” Bernanke said. Of course, JACK will continue to add to its collection of U.S. Treasury bonds, considered by many experts to be the most complete collection of government debt products in the civilized world. “We are particularly excited about our recent purchase of the complete issue of the ‘Collector’s Edition Platinum IV’ 30-year note.” Bernanke added, “We own all of them, and they are not for sale, ever.” When pressed to provide details of possible consumer products under development, Bernanke said, “In spite of numerous and onerous regulatory issues, we have decided to move forward with the creation of a unique consumer loan product, modeled after our larger-scale European product, which we call the ‘Invisible Loan’, or ‘iLoan.’ At this point, we are confident that said regulatory hurdles can be ablated through creative modification of a previously verified technique, which we intend to call ‘Executive Branch Targeted Quantitative Easing (EBT-QE)’. iLoan clientele would be able to service their loans (independent of political considerations) through a device we refer to as the ‘iBen’, which can be safely stored in the clients lower gastrointestinal cavity and is virtually undetectable by current TSA screening procedures.” Bernanke went on to say that use of the terms “iLoan” and “iBen” would not be problematic from a copyright infringement perspective considering that JACK planned to own at least 51% of all shares of AAPL by Q3 2013. “If they make any waves over there, I’ll change their name to Lemon”, Bernanke joked. Bernanke also briefly touched on plans, lauded by top White House officials, to create perhaps hundreds of new jobs by employing an envoy of mostly female, highly trained recent high school graduates whose main purpose will be to hang on his every word, a need that became obvious after it was decided that future JACK prepared statements would be delivered by subordinates. When asked by a reporter from Fox News about potential negative ramifications of JACK’s stated goal of total global market domination, Bernanke appeared disturbed for several seconds and finally replied, “Look at the tape… our goal is to give investors the confidence to rely on stable market activity for tens of days at a time, if not longer,” before retiring back into his Malibu Beach compound. The reporter was later arrested under provisions of the Patriot Act, with arraignment tentatively scheduled for some time after the mid-term elections.
Market makers hailed the new CEO’s remarks by embracing the “Jack-on” trading paradigm, as the DJIA rallied 1,693 points to close at 22,985 on light volume.
Yeah well it all seems to be "Jack-off" trading to me. One HFT jacking off another and the 401k and pension holders are about to get the "lack of money" shot!
The report certainly doesn't sound like it gives the FED much reason for additional QE. It really should not come as a Big Surprise to anyone when Ben doesn't give it to them on Friday. He will of course dangle the carrot - but in his testimony before Congress when asked what "Tools" the FED had left, he responed that language was about it. Why this market doesn't get it is beyond me - there is not going to be any new stimulous prior to the election - and after the Republicans win - there may not be much of a FED left - at least not one with such power.
Good news is just benign, not bad. Market didn't budge. Can take this one of two ways - market doesn't care about QE3 and is more focused on EU easing or market has priced a non QE3 in already. Hard to tell.
Non QE3 means goodbuy Euro.
Time to put that QE carrot on a stick further out there!
Garbage waste remains down ..
"Ten of the 20 carload commodity groups posted increases compared with the same week in 2011, with petroleum products, up 45.6 percent; farm products excluding grain, up 37.4 percent, and lumber and wood products, up 16.4 percent. The groups showing a decrease in weekly traffic included metallic ores, down 29 percent, and waste and nonferrous scrap, down 25.6 percent."
http://www.aar.org/NewsAndEvents/Freight-Rail-Traffic/2012/08/23-railtra...
Oscar The Grouch, "boots on the ground information sourcing machine" that he is, has run the highest return large AUM fund for 20 consecutive years, and for good reason.
They can manipulate almost any information, datum or statistic, but they can't manipulate the actual volume of garbage (which is a direct tell to knowing the actual level of consumption).
The "market" used to be concerned with innovation, efficiency, growth, productivity, and the general ability of commerce to lift the American and the world's standard of living.
This current market seems solely concerned with how much money will be printed.
Are we there yet?
Fed Says: Lies.
Can we just get a healthy correction already? This flat line needs to be defibrillated ASAP!
No, Potter will not allow it.
Reasearch shows he is a sideways market man.
There will be no volatility, THAT IS ALL...
Show of hands. Who here with a pulse actually believes that if the fed saw the economy was in the shitter, they would come out and say it? What would anyone with a brain think they were going to say? I mean, why even fucking bother?
They can't print and they know it. All they have left is propaganda to print.
"Upward wage pressure was very contained" sorry Joe sixpack... now go fill up with some $3.85 unleaded and two cans of Friskies for the kids...
cheers!
Ben shalom
Pretty much what I was thinking when I read that.
But, but, but 0% inflation print.
Markets should hail that.
FUNchasmHAPPYSWELLwraithBONERpestilenceSUNSHINE PRICES
BIG BUCKSstench GROWTHomg the dark lord has come
. *FED SAYS WATCH THE CRYSTAL BALL AND REPEAT AFTER ME.
'NEW-QE' lol keepin the dream alive thru billowing clouds of Hopium smoke.
Good is bad ... that may explain all the stories about gold, the euro, the US$, debt and how the world should have ended several times over the past few years.
You remember all those stories about the gold explosion in August? It may end the month up a grand total of $25 or $50 ... that's quite an explosion. Good is bad.
Last year, the US$ was dead.
Last month, the euro was dead.
Good is bad. Black is white.
The Fed is the greatest HOAX since 1913! Why? Because we still believe it. It is based on a lie. So, What part did I miss? How many more QE's must we endure? Especially when in essence the FED has ALWAYS just been a QE machine? The Beige Book?! FUCKIN' HILARIOUS!!!!
Bullish! Err, I mean bearish! Er, no, bull... Oh never mind.
I can´t believe they see the increase in student loans to new highs in both volume and defaults...and say its good demand...housing to them is apartment growth...inflation is beenie babies...and no one buys them anymore...its not food and energy...employment is food stamp lines and disability lines for applications...yeah it sounds like things are just clicking along fine...so why are we still spending 1.4 triilion more than we take in if we are doing so well...why are they still buying treasuries if we are so good...
i like this .. in the Chi Tribune. Mot worker gets 4 years for stealing secrets........Oh Jon Corzine!!! Where are you.. oh forget it. We know the rules
http://www.chicagotribune.com/business/breaking/chi-exengineer-gets-xxx-...
Bill Gross is wrong again
Yet another reason no QE
*FED SEE COW JUMP OVER MOON
*FED SEES MASSIVE SURGE IN EMPLOYMENT IN NEAR FUTURE
*FED SEES TRICKLE DOWN EFFECT FROM HIGH STOCKMARKET PRICES
*FED SEES ECONOMY GROWING ABOVE POTENTIAL SHORTLY
*FED SEES THEMSELVES AS OMNIPOTENT INFALLIBLE GODS
I was going to put /sarc but I think they do see it like that!
reporter: "Mr. Bernanke, Where exactly is it you are from sir?"
Bernanke: "I am from The United States of Kiss My Ass"