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Hilsenrath: Fed's Kohn Says Will Give "Very Serious Consideration" To QE3

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Wed, 08/03/2011 - 13:32 | 1521251 malikai
malikai's picture

Meanwhile, in slumberland.


Wed, 08/03/2011 - 13:49 | 1521344 spiral_eyes
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it'd be stupid if they do. china and russia and all the treasury holders are pissed at hell at this loose money zero interest rate policy bullshit. just yesterday putin came out with this:


Wed, 08/03/2011 - 13:56 | 1521384 Dr. Engali
Dr. Engali's picture

When has anything these clowns have done made any sense?

Wed, 08/03/2011 - 15:16 | 1521637 Bastiat
Bastiat's picture

Maybe he should "seriously consider" accepting the Flying Spaghetti Monster as his personal saviour?

Wed, 08/03/2011 - 13:57 | 1521387 john39
john39's picture

could set up a great head fake with rumors of QE3 however.  image the carnage when it fails to materialize.

Wed, 08/03/2011 - 17:23 | 1522063 alangreedspank
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Yeah, that could be a possibility. It's not like TPTB were not caught before betting against the financial products they themselves sell.

Wed, 08/03/2011 - 14:36 | 1521521 malikai
malikai's picture

Words that politicians say mean nothing. Until they put their "money" where there mouths are, it means tee-tee.

Wed, 08/03/2011 - 23:34 | 1522865 mason5566
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Wed, 08/03/2011 - 13:33 | 1521256 BaBaBouy
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PRInT !!!

Wed, 08/03/2011 - 13:50 | 1521353 Sudden Debt
Sudden Debt's picture

HHMmmm.... PRInT!!! .... looks like a nice logo to put on the jetpack for Silver :)

Wed, 08/03/2011 - 13:53 | 1521362 TruthInSunshine
TruthInSunshine's picture




Dumbass Kohn was supposed to wait until 3:15 or 3: 25 p.m. to make this announcement!

We will see red reassert itself now, and everyone will worry their pretty heads off as tanks do a double intraday reversal!

Oooooh, The Bernank is gonna be mad at The Kohn!! Kohn is going to get cornholed before Moloch at Jackson Hole.

Wed, 08/03/2011 - 13:55 | 1521378 Sudden Debt
Sudden Debt's picture

that's the real problem these days. Nobody is sticking to the script to the letter.... I even wonder if they all read it...


Wed, 08/03/2011 - 14:17 | 1521463 Hedgetard55
Hedgetard55's picture

I was wondering what juiced stocks back to flat. Yea, dumbass should have waited.

Wed, 08/03/2011 - 14:49 | 1521547 Cdad
Cdad's picture

This is a very sickly looking snap back.  The quote stuffing directional moves are coming minute to minute, which is exactly what my board looked like this morning before she plunged.

Good luck with it...as there is obviously zero confidence in it.

Wed, 08/03/2011 - 14:12 | 1521446 tekhneek
tekhneek's picture

He meant "BUY AGQ!!!!!!!!!"

Wed, 08/03/2011 - 13:33 | 1521257 baby_BLYTHE
baby_BLYTHE's picture

it is very simple

the money printer will continue to print money.

He will print or die trying.

"The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost."

Wed, 08/03/2011 - 13:39 | 1521290 Mae Kadoodie
Mae Kadoodie's picture

Does QE3 trigger an automatic downgrade of US debt?

Wed, 08/03/2011 - 13:42 | 1521308 baby_BLYTHE
baby_BLYTHE's picture

if the rating agencies want to have any credibility, then yes.

Wed, 08/03/2011 - 13:46 | 1521334 Dr. Engali
Dr. Engali's picture

They gave up their credibilty a long time ago. They showed their true colors when they jumped on the scare band wagon then followed up with a big....in the imortal words of Emily Litella...... "nevermind"

Wed, 08/03/2011 - 15:45 | 1521734 tyler
tyler's picture

The rating agencies are a carbon copy of the CFTC.  All bark no bite.

Wed, 08/03/2011 - 15:20 | 1521650 Buckaroo Banzai
Buckaroo Banzai's picture

If the ratings agents are dirty whores, then no.

Wed, 08/03/2011 - 15:23 | 1521662 Buckaroo Banzai
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But in defense of the ratings agencies, the ratings are supposed to reflect the possibility of the return OF one's investment, not return ON one's investment. Since we can "print to fit", then technically, we'll always be AAA.

Wed, 08/03/2011 - 13:45 | 1521321 Quintus
Quintus's picture

If you ask a real ratings agency then I guess they would say 'Yes'.

However, if you ask Moody's S&P or Fitch, they are more likely to take the view that more QE should result in an upgrade to the newly-created AAAA rating on the basis that there will be lots more money available with which to pay interest on the national debt.  More money is always good, right?

Wed, 08/03/2011 - 13:46 | 1521335 Cash_is_Trash
Cash_is_Trash's picture

Dagong, bitchez

Wed, 08/03/2011 - 13:54 | 1521370 Bam_Man
Bam_Man's picture

Get it on,

Bang Dagong,

Get it on!

Wed, 08/03/2011 - 13:48 | 1521347 DonnieD
DonnieD's picture

They will upgrade our credit rating to Quad A when Congress removes that pesky debt ceiling. Once you do that, your invincible in the eyes of those morons.

Wed, 08/03/2011 - 14:10 | 1521435 TruthInSunshine
TruthInSunshine's picture

Moody's is rethinking its position and has spoken about the possibility of re-rating the U.S. as AAAA+++XtraSpecial, which is a new category they would create.

Wed, 08/03/2011 - 14:40 | 1521532 Josh Randall
Josh Randall's picture

Everyone knows the US has been on DOUBLE SECRET PROBATION since 2008, so this may just be more jawboning by Moody's

Wed, 08/03/2011 - 14:34 | 1521518 TruthInSunshine
TruthInSunshine's picture

Bernank sez:


It puts the lotion on its skin or else it gets the hose again.


But will it listen?

Wed, 08/03/2011 - 13:34 | 1521259 Iriestx
Iriestx's picture

This should be enough to immediately end the consecutive losing streak.


Edit: Boom, straight up, here we go to a green close on the most vague suggestion of QE3.

Wed, 08/03/2011 - 13:35 | 1521270 EscapeKey
EscapeKey's picture

On the contrary - this could add to the losses.

The PDs, upon seeing this, should come to realize that if they depress the markets, it will force the hand of the FRB.

Wed, 08/03/2011 - 13:40 | 1521291 malikai
malikai's picture

I'd reckon they already knew. And beyond that, there has probably been some active crushing of indices and commodities this week. Gold and silver are the rogues, but they will be dealt with. The objective is a point-to for "lessened inflation expectations". As for gold and silver, they (silver) will be vulnerable in the next couple of days to margin hikes and late US day takedowns. Once the downward momentum in everything is started, they will try to make the case for QE3.

Wed, 08/03/2011 - 14:02 | 1521404 slaughterer
slaughterer's picture

Problem is: inflation is not expected to lessen until 2012. 

Wed, 08/03/2011 - 14:06 | 1521419 EscapeKey
EscapeKey's picture

Growth in producer input prices are heading downwards, this change amazingly materialized almost as soon as QE2 ended. Soon, input prices will decrease.

However, just because their input prices go down, does not mean consumer prices will fall as much as they increased. Ie, I keep seeing price increases down my local patrol station, but the drops do not match the equivalent rises.

Wed, 08/03/2011 - 14:36 | 1521522 Joe Davola
Joe Davola's picture

This week my Quicken Inflation Index hit 9 - the number of budget categories I will exceed this calendar year.  I only wish I could eliminate inflation in stuff required to live as easily as the Bernank claims he can.

Wed, 08/03/2011 - 14:57 | 1521568 EscapeKey
EscapeKey's picture

Well, obviously you don't buy enough iPads.

Wed, 08/03/2011 - 15:10 | 1521619 Joe Davola
Joe Davola's picture

True that - it was the iProperty Tax that pushed the number to 9.

Wed, 08/03/2011 - 15:56 | 1521766 malikai
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Have you seen the new iStopPaying? It's pretty cool. Value up 100%. It's guaranteed to give you 100% or your money back.

Wed, 08/03/2011 - 14:12 | 1521444 slaughterer
slaughterer's picture

Oh yes, second problem is: Donald Kohn is retired from the Fed.

Donald Lewis Kohn (born November 7, 1942) is an American economist who served as the former Vice Chairman of the Board of Governors of the Federal Reserve System. He is considered a moderate dove on fiscal policy. He retired after 40 years at the central bank in September, 2010.

Wed, 08/03/2011 - 14:51 | 1521553 TruthInSunshine
TruthInSunshine's picture



Justin Bieber voiced his support for a QE3 like program and the markets loved it.

Coincidentally, 7 out of the top 10 spots on RoboFader's playlist are occupied by Justin Bieber songs.

Wed, 08/03/2011 - 17:59 | 1522151 Firing Pin
Firing Pin's picture

Good call re: retired. Also, he said the same thing in Sept of 2010:



-sorry for the link to the liberal rag NYTimes...

Wed, 08/03/2011 - 17:59 | 1522152 Firing Pin
Firing Pin's picture

Good call re: retired. Also, he said the same thing in Sept of 2010:



-sorry for the link to the liberal rag NYTimes...

Wed, 08/03/2011 - 13:40 | 1521295 Iriestx
Iriestx's picture

Robots gotta robot.  There's no humans on that swtich. 

Wed, 08/03/2011 - 13:41 | 1521303 fuu
fuu's picture

Dead cat bouncing.

Wed, 08/03/2011 - 14:04 | 1521412 knukles
knukles's picture


Wed, 08/03/2011 - 14:30 | 1521505 fuu
fuu's picture


Wed, 08/03/2011 - 13:36 | 1521265 -Michelle-
-Michelle-'s picture

Oh, I thought there was no inflation.  Well, gee.

ETA: Up goes the Dow and down goes gold...

Wed, 08/03/2011 - 13:34 | 1521269 Bonesetter Brown
Bonesetter Brown's picture

double plus good

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