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Market Surges As Petulant Fed Dissenter Promises ZIRP To Last Longer Than Mid-2013

Tyler Durden's picture


As expected the latest spike in the market is on nothing more than a central planner usurping the role of the Fed and making it appear that the Doves are in charge. In this case it is the first Dovish dissenter on the FOMC in years, Chicago Fed's Evans who just petulantly said that he expects the policy rate to stay low for longer than mid-2013. Indeed, the guy who got slapped down by none other than Bernanke forcing him to "dissent" is now making his outlier opinion seem to be fact. That this is identical in credibility to Hoenig saying that he expects the Fed to hike the rate to 4.5% by the end of the year is irrelevant: the market has smelt liquidity blood and is in a frenzy for a few more minutes until the realization that the only variable here, the ECB, has just said it will not monetize.


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Tue, 11/15/2011 - 10:47 | 1879052 HelluvaEngineer
HelluvaEngineer's picture

Only problem is that perpetual ZIRP is already priced in...

Tue, 11/15/2011 - 10:55 | 1879091 SHEEPFUKKER

ZIRP to 2013 is priced in. ZIRP to 2113 is not.

Tue, 11/15/2011 - 11:39 | 1879254 trav7777
trav7777's picture

new credit/money is not being requested.  Therefore, they have to print the coupon.  Simple math

Tue, 11/15/2011 - 12:32 | 1879389 Max Fischer
Max Fischer's picture



And why is new money not being requested?

Max Fischer, Civis Mundi 


Tue, 11/15/2011 - 12:39 | 1879406 walküre
walküre's picture

They will give us at least a "lost decade" to 2018 and 50+ years of mortgage amortization.

Wanna see their tools, baby?

Tue, 11/15/2011 - 13:14 | 1879519 malek
malek's picture

Only 50+ years?
And you forgot they will make mortgage debt non-dischargeable in bankruptcy.

Tue, 11/15/2011 - 11:05 | 1879095 GeneMarchbanks
GeneMarchbanks's picture

Yeah, but every so often they want to refresh our memory. For example, "hey are you a saver?" Yes,sir "well, just want to remind you we are still right behind you plugging away at your sphincter"

And so it goes... totally necessary if we're going to break that DOW 15.000 mark.

Tue, 11/15/2011 - 11:06 | 1879136 slaughterer
slaughterer's picture

Warned about this yesterday. Evans and CNBC: a lethal combo for bears.  Sorry, the guy is deluded, but, hey, we can rename the Santa rally, the Evans rally.

Tue, 11/15/2011 - 10:49 | 1879059 A Man without Q...
A Man without Qualities's picture

no recovery as far as the eye can see = bullish...

Tue, 11/15/2011 - 10:55 | 1879093 a growing concern
a growing concern's picture

Bullish for FAZ

Tue, 11/15/2011 - 11:13 | 1879156 homersimpson
homersimpson's picture

Amen! FAZ it up!

Tue, 11/15/2011 - 11:15 | 1879163 a growing concern
a growing concern's picture

I'm FAZ'd to the gills at the moment.  Just waiting for that 8% gap down morning.

Tue, 11/15/2011 - 10:50 | 1879063 Cdad
Cdad's picture

...sending WTI into a bid lifting tizzy, further lowering quality of life in the US.  The criminal syndicate at its finest.

Tue, 11/15/2011 - 10:53 | 1879076 GeneMarchbanks
GeneMarchbanks's picture

Do not panic. Another roughly $10 up and it'll collapse. Of course the new recession/depression will arrive...

Tue, 11/15/2011 - 11:13 | 1879155 whatsinaname
whatsinaname's picture

WTI yes but not gasoline - markets pretending that prices at pump will not follow crude oil path. How long will this charade last ?

Tue, 11/15/2011 - 11:38 | 1879249 Cdad
Cdad's picture

Answer:  impossible to answer.  WTI is so far out over its skis right now, that it is hard to imagine that it can drag gasoline up that hill.  Contango coming into WTI suggests that the WTI surge is simply a market mechanical response to spread compression in WTI/Brent trade.

Furthermore, WTI is currently a crutch for the S&P...with the syndicate trying to keep that bloated trade working.

Odds favor both oil and gasoline retreating, but in the two local gasoline markets I experience, pricing has been inverse, providing zero annecdotal evidence of anything.

Sell them both.

Tue, 11/15/2011 - 11:07 | 1879066 wang (not verified)
wang's picture

Monti out?  stay tuned


BBG reports Primo ministro in waiting in unshced meeting with  presidente

Tue, 11/15/2011 - 11:10 | 1879144 A Man without Q...
A Man without Qualities's picture

Some reports simply suggest they have gone for lunch...

Tue, 11/15/2011 - 11:22 | 1879188 wang (not verified)
wang's picture

I know but everything is choreographed and this was not scheduled and one would think that Monti might be a bit busy hustling   potential supporters, whatever the markets would totally implode if he were to throw in the towel

Tue, 11/15/2011 - 10:55 | 1879067 vast-dom
vast-dom's picture



There is NO WAY this shithouse ain't gonna fold and NO FED MANIPULATION shall prevent the GREAT PURGE. ZIRP for FOREVER won't do shit.

Tue, 11/15/2011 - 11:12 | 1879149 Potemkin Villag...
Potemkin Village Idiot's picture

Why don't you tell us how you REALLY feel...

Tue, 11/15/2011 - 11:24 | 1879196 vast-dom
vast-dom's picture

Didn't I?

Tue, 11/15/2011 - 10:51 | 1879070 firstdivision
firstdivision's picture

Riots will be occurring long before 2013 at this rate.  If people are only complaining that they cannot get a job, wait til they cannot afford food and food stamp programs are reduced.

Tue, 11/15/2011 - 10:57 | 1879099 LawsofPhysics
LawsofPhysics's picture

Maybe, but based on my experience doing business in Russia in the 90's I would predict that there will be two economies (one state-run and one underground), paper will be abundant (we will all be billionaires) but supply chain disruptions, bribes, corruption, and black markets will be in abundance.  Whether or not you can "afford" food, water, and energy will be irrelevant, availability will be the issue.  TPTB have no problems with genocide, know your history and hedge accordingly.

Tue, 11/15/2011 - 11:06 | 1879119 firstdivision
firstdivision's picture

We have long had the bribes and corruption here in the US.  The only thing that seperates us from the post cold ward Russians is the the supply chain disruptions. 

Tue, 11/15/2011 - 11:19 | 1879180 LawsofPhysics
LawsofPhysics's picture

No shit, my point was that the bribes will get worse and become very public, almost like a policy.  The supply chain issues will be what pushes average Americans over the edge.  You are dealing with several generations who have never really walked into a store and experience bare shelves.  One of my Russian friends once told me that the state officials in Russia told him that the reason store shelves in Russia were sometimes bare was because the Russian people were much "richer" than Americans and could afford to buy the products in stores.  The state official also told him that the reason American stores were always packed with product was because most Americans were too poor to afford to purchase any of the products.

I wonder if the same propaganda will be used on Americans in the future when their shelves are bare?

Tue, 11/15/2011 - 11:39 | 1879251 optimator
optimator's picture

In those days they'd also say Americans were starving.  One Russian who came over here said, "They were right, most Americans I talk to are starving -- dieting!"

Tue, 11/15/2011 - 11:41 | 1879260 Potemkin Villag...
Potemkin Village Idiot's picture

Re: Hadrian - Roman Emperor

I consider it good policy that the prince did not neglect the theatre or the circus and arena, as he well knew that there are two things which the Roman applaud especially—the distribution of grain, and games.

The neglect of the important thing [grains] causes great harm, of the frivolous thing [entertainment] greater hatred—the crowd hungering more for games than for bread, because by the gift to the people [congiarium] only those who are authorized to receive the grain will be gratified, while by the games the whole population is pacified.

—Fronto, Prim. Hist., p. 249, ed., Barthold Georg Niebuhr.

Tue, 11/15/2011 - 11:44 | 1879266 Raymond Reason
Raymond Reason's picture

It is also interesting to look at Kosovo in the late 90's.  They had a social reversal.  The country mice became the winners, the city mice became the losers.  In Russia, Ukraine, etc., people went to their "datchi" (homes in the villages), and vegetable gardens to survive.  These Slavics already understood what hardship means, though.  Here in America "hardship" will be a new concept, and will not be received well.   There will be weeping and gnashing of teeth. 

Tue, 11/15/2011 - 13:23 | 1879542 hannah
hannah's picture

russian had a black market system for decades....we dont. when the corporations fold, that supply will disappear and there arent any other cant compare the russian collapse to the american one coming. they collapsed 1 day after the revolution. we dont have public transportation, black market food systems. we dont 'own' our homes and neither does the we will eventually be kicked out etc etc etc.....the usa will be much worse off after the collapse.

Tue, 11/15/2011 - 11:04 | 1879123 GeezerGeek
GeezerGeek's picture

I'd rather see voters reject big government entirely next November, assuming things don't blow up before then. But will they? Obambi will promise to take care of everyone and blame the problems on those Rascal Republicans. Boehner will cry and say it's not his fault. Pelosi and Reed will lie through their teeth, saying the Democrats need to control both houses of Congress.

I'd rather see everyone just sit on their hands - do a John Galt, in a manner of speaking. Let's all refuse to spend any money on non-essentials (screw the retailers) and instead donate to charities. Let's all take our money out of banks and keep it at home for a month. Let's stop flying around the country for a month and watch the TSA employees molest each other. Let's stop using credit cards for a month. What would TPTB do if We the People decided not to participate for a month?

Tue, 11/15/2011 - 11:07 | 1879138 pods
pods's picture

Check on all.  I actually told my boss the next time I am going to get on an airplane it will be in a pine box with a "Fed Ex" sticker on it.


Tue, 11/15/2011 - 11:17 | 1879174 HelluvaEngineer
HelluvaEngineer's picture

Unfortunately the only way to reject big government entirely next November is to not vote.

Tue, 11/15/2011 - 11:20 | 1879184 LawsofPhysics
LawsofPhysics's picture

The only way to reject government is not to pay taxes.

Tue, 11/15/2011 - 14:08 | 1879635 catacl1sm
catacl1sm's picture

Unfortunately, they reject you back by having you ass raped in prison.

Tue, 11/15/2011 - 11:51 | 1879291 stewie
stewie's picture

You could also do everything in your power to support Ron Paul.

Tue, 11/15/2011 - 14:14 | 1879658 mendigo
mendigo's picture

that's loser talk son

My thinking is that I will vote in every election and I will never again vote for any democrat or republican (or republican wannabe's).


Tue, 11/15/2011 - 10:52 | 1879074 SteveNYC
SteveNYC's picture

Evans is a dangerous dude. Can't somebody in DC remove this guy from the Fed? Oh, that's right. The Fed does not answer to the people nor their representatives.

How did that happen again?

Tue, 11/15/2011 - 10:59 | 1879108 Sophist Economicus
Sophist Economicus's picture

Can't somebody in DC remove this guy from the Fed?


And why would the fine folks in DC want to do that?   His message is their wet dream!

Tue, 11/15/2011 - 11:06 | 1879135 GeezerGeek
GeezerGeek's picture

Is there a way to remove DC? As in "remove from the United States"? DC and it's debt can become a separate nation. We the People can finally regain our freedom.

Tue, 11/15/2011 - 11:14 | 1879159 Rainman
Rainman's picture

Fed operatives are deeply embedded in the US Treasury. Like...this is news ??


Tue, 11/15/2011 - 10:53 | 1879078 Astute Investor
Astute Investor's picture

Evans should stop fucking around and just say that he expects the policy rate to stay low ad infinitum.

Tue, 11/15/2011 - 10:53 | 1879080 Roy T
Roy T's picture


Also, at about 9:35 Bob Pisani reported that some German on a German Economic Board said that the ECB should be the lender of last resort or something like that.



Tue, 11/15/2011 - 10:58 | 1879103 Taterboy
Taterboy's picture

Bob Pisani-Living proof that everyone is somehow employable.

Tue, 11/15/2011 - 11:17 | 1879169 Potemkin Villag...
Potemkin Village Idiot's picture

Bob Piss-on-me...

"Year end bonuses are saved... The crowd (on the trading floor) goes wild!"


Tue, 11/15/2011 - 11:07 | 1879117 Cult_of_Reason
Cult_of_Reason's picture

Yep, I think it was Pasani misinterpreting comments from one (out of ~10+) German adviser to Merkel – implying according to Pasani that ECB should be a lender of last resort.

Commodities spiked up parabolic on Pasani’s ECB printing money hope.

Tue, 11/15/2011 - 11:12 | 1879148 Mactheknife
Mactheknife's picture

>the ECB, has just said it will not monetize.

But, but, but....surely they jest. Yeah, the're just messin with us.  NOT!

Tue, 11/15/2011 - 10:53 | 1879081 lizzy36
lizzy36's picture

When did we move from an enviroment where the Fed had a mandate, which was 99% carried out by tinkering with interest rates to one where is became acceptable for them to tinker with every corner of the economy at will?

I understand what the Fed did in 2008 was perhaps necessary. But NOW, they should shut up and go back to being seen and not heard (and audited often).

How is that a Fed governor who has no idea about how capital markets work and no clue how broken the transmission mechanism is, has the power to move markets?

All of this Macro tinkering is very counterproductive to any recovery (i know very debatable on the recovery part).

When did Fed Governors get their Superman capes?

Tue, 11/15/2011 - 10:55 | 1879088 Tsar Pointless
Tsar Pointless's picture

When did Fed Governors get their Superman capes?


January 20, 2009.

Tue, 11/15/2011 - 11:10 | 1879104 DormRoom
DormRoom's picture

you assume the tinkering is done to help the 99%.  wrong.  it's done to sustain the 1%--To prop up the institutions, and structures that keep their power absolute over the 99.


That is why the market will never collapse, like it should.  Like Winston Smith, you cannot defeat Big Central Bank:=Wallstreet  And in the end you will hold 2+ 2 =5.  Or that is to say you will hold the simultaneous beliefs that we live in prosperous economic times, as everything around us degenerates.


In newspeak, totalatarianism is capitalism plus plus (+privatizing of profits, +socializing risk)

Tue, 11/15/2011 - 10:54 | 1879084 eigenvalue
eigenvalue's picture

 Bears on Zerohedge haven been disappointed again and again, day after day. I think even God will not live long even to see markets crash...

Tue, 11/15/2011 - 10:58 | 1879100 Tsar Pointless
Tsar Pointless's picture

You may be right, bull.

But I reckon she will live long enough to see severe riots and hundreds of millions of Earthlings kill each other in yet another (or more) wars.

So, markets and "bears vs. bulls" are both a little less relevant with that in mind, aren't they smart ass?

Tue, 11/15/2011 - 11:41 | 1879258 trav7777
trav7777's picture

she?  wtf

Tue, 11/15/2011 - 10:58 | 1879106 CvlDobd
CvlDobd's picture

I was wondering when you were going to add "not" to the live long enough comment.

Tue, 11/15/2011 - 11:05 | 1879114 LawsofPhysics
LawsofPhysics's picture

Who specifically are you talking about troll?  I have been profiting from dips while buying into them to sell on the peaks.  Volitile markets are great for trading.  Buy low and sell high dude, the song remains the same and ZH is but one source for good information, everyone still does their own homework.  Again, be specific or be recognized as simply another useless troll.


At the end of the day, what is your paper worth now?  Purchasing power is all the matters at the end of the day, period.  Trade, profit, aquire more assets and ownership, retire and live on interest/revenue from your investments (money for nothing).  Any questions?

Tue, 11/15/2011 - 11:05 | 1879127 junkyardjack
junkyardjack's picture

Bulls haven't been doing to well either.  The market has went exactly no where.

Tue, 11/15/2011 - 11:27 | 1879201 SheepDog-One
SheepDog-One's picture

Exactly. For all the flailing about by permabulls like Robo, the market hasnt done a damn thing all year.

Tue, 11/15/2011 - 11:14 | 1879161 Potemkin Villag...
Potemkin Village Idiot's picture

God creates man... Man creates algos... Algos create [insert hypothesis here]

Tue, 11/15/2011 - 11:27 | 1879205 SheepDog-One
SheepDog-One's picture

T-1 Terminators.

Tue, 11/15/2011 - 12:58 | 1879478 NotApplicable
NotApplicable's picture

Flash Crash

Tue, 11/15/2011 - 10:56 | 1879094 imsaul0968
imsaul0968's picture

So we are supposed to believe what the europeans say versus what they do with regard to not monitizing? Please, the debts are so big at this point and yields keep spiking that the only way to save the euro is to monitize, first softly(check) then more loudly as a policy response to panic(coming soon). Think about the ramifications if they just came out and said, "ok we know we're cooked so are bringing out the bazooka NOW"? And to their citizens, "Sorry we have no choice citizens to monitize the debt and drive inflation higher over time which is a quiet tax on you all unless you buy gold, silver and anything else in the hard asset basket" They cant say that so they will deny to the public but do something else in private. And when europe cools down, the vigilantes will turn their attn to the biggest offender of debt, yours truly, the USA. Buy your gold and silver before its obvious all debt is to be monitized, because by then, the parabolic rise of hard assets will have already begun.

Tue, 11/15/2011 - 10:59 | 1879107 PaperBear
PaperBear's picture

Will the non-Federal non-Reserve still exist by 2013, it's charter is up for renewal.

Tue, 11/15/2011 - 11:28 | 1879209 GeezerGeek
GeezerGeek's picture

It actually seems that there is no charter expiration date. Lots of people speculated (do a search on Federal Reserve Charter expire) that it was originally granted a 99 year charter that would expire the same day the Mayans predicted the world would end. At least one person on one site claimed it had a 20-year lifespan when created but that was later modified to never expire.

No sense in simply hoping for the best. As with Obamacare, it's dissolution requires voters to elect people to Congress and the Presidency that will work quickly to revoke the charter. Go to town hall meetings and ask your representatives. Write your senators. Vote accordingly, assuming you're a U.S. citizen eligible to vote.

More realistically: get a barrel of a high-quality lubricant, you're going to need it.

Tue, 11/15/2011 - 11:00 | 1879111 Yancey Ward
Yancey Ward's picture

Evans, ironically, is completely correct.  The Fed Funds rate will never rise again.  Japan is the object lesson here.

Tue, 11/15/2011 - 11:00 | 1879112 Rusticus
Rusticus's picture

Central banksters statements have a shelf life that has been reduced to minutes, they're out of dry powder.  

Tue, 11/15/2011 - 11:19 | 1879178 SheepDog-One
SheepDog-One's picture

Not even able to turn equity markets green.

Tue, 11/15/2011 - 11:00 | 1879113 RobotTrader
RobotTrader's picture

BAC over $6

Haven't seen a 5 handle yet today in regular hours trading.

Tue, 11/15/2011 - 11:04 | 1879124 GeneMarchbanks
GeneMarchbanks's picture

RED. Off topic + you're super douchey today.

Tue, 11/15/2011 - 11:21 | 1879187 SheepDog-One
SheepDog-One's picture

'Super extra douchey' that seems almost impossible for Robo.

Tue, 11/15/2011 - 11:37 | 1879243 d00daa
d00daa's picture

how's that paper trading working out for you cunt???  bwahahahahahahahahahahahaha!

bob dabolina called, he's missing his bottom.  get on it.

Tue, 11/15/2011 - 11:01 | 1879115 John McCloy
John McCloy's picture

Talk talk talk..So when mortgage rates are 1.5% in 2012 and housing prices are still falling while endless ZIRP are causing 15-20% rises in food and gas prices will the people still sit quietly in their hovels blaming corporations instead of the true root of our Depression which is the Fed and the politicians who enable them?

      They  know exactly what they are doing and who benefits from this and it is not the average American. They are simply keeping their fingers crossed hoping the Snookite American Idol Zombies do not realize before the wealth transfer can be completed.

Tue, 11/15/2011 - 11:04 | 1879125 YesWeKahn
YesWeKahn's picture

Evans eats air everyday, he doesn't live on earth.

Tue, 11/15/2011 - 11:05 | 1879128 Temporalist
Temporalist's picture

More Bullish news:



FHA May Require A Taxpayer Bailout By The End Of Next Year: Report


"The Federal Housing Administration's cash reserves have dropped so low that there is a close to a 50 percent chance it could run out of funds and may require a taxpayer bailout next year, the Wall Street Journal said, citing an annual independent audit of the agency's finances."

Tue, 11/15/2011 - 11:17 | 1879168 SheepDog-One
SheepDog-One's picture

Another useless govt agency, bankrupt of course, and TBTF as well needing the US taxpayer to hand over more money at gunpoint.

Tue, 11/15/2011 - 11:14 | 1879130 midgetrannyporn
midgetrannyporn's picture

He's right. If they won't lower interest paid on borrowed reserves then they aren't going to significantly raise the ff rate any time soon.

Tue, 11/15/2011 - 11:05 | 1879131 RobotTrader
RobotTrader's picture

Why is Home Depot at 52-week highs?

During the worst recession in 75 years?

Tue, 11/15/2011 - 11:23 | 1879190 SheepDog-One
SheepDog-One's picture

Robo just an hour ago said 'sell oil and gold'...both of course spiking wildly right now. Nice call, 'tarder.

Tue, 11/15/2011 - 11:23 | 1879192 Potemkin Villag...
Potemkin Village Idiot's picture

Maybe because Fannie, Freddie, AIG, and all the other financials got kicked out of the S&P... They might be the only company around that has the market cap to qualify for entry because they sell "physical" stuff useful for survival...

Tue, 11/15/2011 - 11:32 | 1879231 homersimpson
homersimpson's picture

Obviously Home Depot's stock price has nothing to do with your after-the-fact predictions..

Tue, 11/15/2011 - 11:42 | 1879262 d00daa
d00daa's picture


love it!  the tylers finally got under this faggot bottom's skin.

spread those ass cheeks nice and wide robo...

Tue, 11/15/2011 - 11:07 | 1879139 RobotTrader
RobotTrader's picture

How come BLK hasn't imploded yet?

As everyone here promised?

Tue, 11/15/2011 - 11:10 | 1879146 Tsar Pointless
Tsar Pointless's picture

Why isn't the Dow at 30,000?

Why am I sitting at this dumb desk instead of being at home and having sex?

Why is the sky blue?

Why did I even reply to this comment?

Tue, 11/15/2011 - 11:14 | 1879157 Temporalist
Temporalist's picture

Why do you have to be at home to have sex?  Are you on some kind of home detention?

Tue, 11/15/2011 - 11:18 | 1879177 Tsar Pointless
Tsar Pointless's picture

No, not on home detention. However, that is one of the fantasy role-play games I enjoy. LOL

Tue, 11/15/2011 - 11:27 | 1879206 Potemkin Villag...
Potemkin Village Idiot's picture

Get a job at either the SEC or in the athletic department at Penn State... You could immediately double your productive output...

Tue, 11/15/2011 - 11:12 | 1879150 nmewn
nmewn's picture

Why doesn't Rahm run his own hedge fund?

Former White House Chief of Staff Rahm Emanuel is the latest lawmaker to get caught up in allegations of insider trading while a member of Congress.

Read more:

Tue, 11/15/2011 - 11:18 | 1879175 slaughterer
slaughterer's picture

Rahm: he bought alot of FNM / FRE preferreds, as I recall.  

Tue, 11/15/2011 - 11:27 | 1879204 nmewn
nmewn's picture

Buffett, Rahm, et al are worse than piglets sucking at the public teat...they are vampires.

Tue, 11/15/2011 - 11:19 | 1879179 slaughterer
slaughterer's picture

BLK imploding... give it time ... matter of weeks at this point, Robo.  

Tue, 11/15/2011 - 11:30 | 1879222 Tree of Liberty
Tree of Liberty's picture

Ths market is just peachy king just like Fukushima tells the world they are as pure as the driven snow as the radiation is so high that 

 Worker Shoes 'Melted Immediately' Near Reactor


Wake up man!

Tue, 11/15/2011 - 11:40 | 1879257 d00daa
d00daa's picture

someone's getting their face kicked in!    bwahahahahahahahahaha!

here's a clue, you pretend money "trading" faggot:  IT'S NOT GOING TO "CRASH," at least not in the traditional sense.

Tue, 11/15/2011 - 11:55 | 1879300 YesWeKahn
YesWeKahn's picture

Stop telling us what already happened. what's the trade today?

Tue, 11/15/2011 - 11:09 | 1879142 Elmer Fudd
Elmer Fudd's picture

Fundamentals, Robo, its print, or die.  The rest is theater for sophisticated sheep to ruminate on.

Tue, 11/15/2011 - 11:13 | 1879152 Tree of Liberty
Tree of Liberty's picture

This market is sooooo Broken!

Play in it at your own risk

Tue, 11/15/2011 - 11:14 | 1879160 paulypaul
paulypaul's picture

He probably learnt his skill from his previous school the Peter pan child care and learning center

Tue, 11/15/2011 - 11:20 | 1879183 Hansel
Hansel's picture

Oil liked it.

Tue, 11/15/2011 - 11:38 | 1879248 bankruptcylawyer
bankruptcylawyer's picture

zirp will be in place until it can't, until either hyperinflation or massive depressionary collapse get bad enough to stop government and commerce to a standstill.


could take 20 years. life moves on. don't get consumed by righteous anger. it will result in harikiri levels of stress. you don't think you are choosing to kill yourself in protest at this fraud. but you are.

Tue, 11/15/2011 - 11:42 | 1879263 hannah
hannah's picture

chances interest rate will stay at 0% for 20 years is 99.99999999999%. chance that they will raise the rate.000000000000000000001%.....evans is right.

Tue, 11/15/2011 - 11:44 | 1879268 quacker
quacker's picture


How did a FREE people ever get into this mess?

A fairly determined interest rate should actually be an economic right of a free people. Instead, we turn that right over to Ben Shalom Bernanke. Not the free exchange of free peoples but 1 little Jewish man.

And Ben Shalom Bernanke knows better what the yield curve of the United States of America should look like. Not the willingness of free people to lend to their government, but Ben Shalom Bernanke.

So if Ben Shalom Bernanke knows better what the yield curve should look like, then why not have Ben Shalom Bernanke decide production quotas and employment in all industries? Why leave any decision making in the hands of free people if Ben Shalom Bernanke is so smart?

Apparently the decisions that affect how capital will flow in a nation of 300 million people, indeed the whole world are best put in the hands of Ben Shalom Bernanke.

So let’s just put the little Jew in control of everything.

We don’t need freedom, we need Ben Shalom Bernanke.


Tue, 11/15/2011 - 12:32 | 1879393 PulauHantu29
PulauHantu29's picture

"But if your choice is global calamity or – effectively – the printing of money, which would you choose?

Among others, the bankers who bet big on moral hazard – i.e., massive government-backed bailouts – are about to win again.  Perhaps the Europeans will be tougher on executives, boards, and shareholders than the Obama administration was in early 2009, but most likely all the truly rich and powerful will do very well."


Got oil?

Tue, 11/15/2011 - 12:51 | 1879442 gs_runsthiscountry
gs_runsthiscountry's picture

Quote of the day from Evans - on energy:

"It is just not inflationary, but a change in relative prices."  *lmao*

So, is that code for - there isn't real inflation, just pressure coming from Cargil, Vitol, koch et al?

Yeah, and my pay check hasn't gone down[deflated], it has just been lowered "relatively"?


Someone tell these fools to actually *raise* rates to counter the psychology. Said another way, any further easing, or ZIRP, will only spur more hoarding and misallocations of capital.

At this pace we should be out of this mess, if at all, sometime in 2019-2021. Then again, there will be people rioting, and not occupying, long before then.



Tue, 11/15/2011 - 12:59 | 1879480 NotApplicable
NotApplicable's picture


TINA insists.

Tue, 11/15/2011 - 13:41 | 1879575 JR
JR's picture

Karl Denninger, in his editorial comment today, says “It’s Coming Folks (From Europe)” and quotes Elwin de Groot, a senior market economist at Rabobank Nederland in Utrecht, Netherlands:

 “It’s a confidence crisis. Investors have no confidence that the euro zone can solve its problems. They will look for the most safe place they can store their money, which is Germany. Everything else is suffering.”

Says Denninger, “I repeat: NOBODY is yet speaking to the truth of the matter.  Not central bankers, not governments, not politicians in either party here and nobody over in Europe.

“The market is calling ‘BS!’ on the games; the banksters and governments, having gotten away with bailing out the crooks in 2008 and then refusing to put a stop to the abuses, smugly thinking they could just go on their way and leave everything alone (including the asset-stripping and lying schemes of the banksters) are discovering that the market is refusing to play along."

Citing bond yields and downgrades, Denninger says, “Political movement no longer works… You need fiscal resolution and you can't get there from here…

“I have warned of this for four and a half years and have been ignored.  To date while there are people using a lot of 'if' words, including Evans who is single-handedly destroying the credibility of The Fed right now on CNBC, and Liesman, rather than calling him on it, is (again) being an enabler.

“Again folks, the bottom line is simple: You cannot continually borrow and spend more than you make, yet this is the game that governments have continually played for 30 years, and private businesses have attempted to 'lever up' to 'take advantage' of this without regard to the mathematical inevitability of this strategy's failure."

Tue, 11/15/2011 - 15:34 | 1879932 Grand Supercycle
Grand Supercycle's picture

NASDAQ megaphone pattern on daily chart indicates a big move lies ahead.

SP500 monthly chart remains bearish and USDX weekly remains bullish, so it’s only a matter of time until the market makes its move.

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