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No QE3 Mention In FOMC; Fed Leaves Twist Untouched; Dove Evans Continues To Cry - Full Redline Comparison
Headline summary:
- FED: FINANCIAL STRAINS STILL POSE `SIGNIFICANT DOWNSIDE RISKS'
- FED REPEATS `EXCEPTIONALLY LOW' RATES THROUGH AT LEAST MID-2013
- FED SAYS ECONOMY `EXPANDING MODERATELY' AS GLOBAL GROWTH SLOWS
- FED LEAVES OPERATION TWIST PROGRAM UNCHANGED
- FED SAYS CONSUMER SPENDING `HAS CONTINUED TO ADVANCE'
- FED SAYS UNEMPLOYMENT RATE TO DECLINE `ONLY GRADUALLY'
- FED EXPECTS `MODERATE PACE' OF GROWTH IN COMING QUARTERS
- FED: FINANCIAL STRAINS STILL POSE `SIGNIFICANT DOWNSIDE RISKS'
- EVANS DISSENTS FROM FOMC DECISION, PREFERRING MORE EASING
The market can not be happy
And Nov-Dec statement comparison, of note:
- Fed replaces "continuing weakness" in labor market conditions with "some improvement"
- Fed replaces emphasis on weakness in nonres structures with business fixed investment
- Fed replaces "economic growth strengthened" with "economy has been expanding moderately, notwithstanding some apparent slowing in global growth"
Full redline below:
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Unemployment at 8.6 and falling what do you expect?
no mention of pre-emptive helicopter buying?
The latest official unemployment rate is 8.6%. Everyone knows it is worse but very few have the skill set to find out the truth. Different economist have different methods. I like using “real world” analysis comparing today’s economy where the federal government consumes 25.3% of the GDP to the 1999-2000 economy where the federal government consumed 18.2% of the GDP.
Civilian Labor Force Participation Rate going nowhere but down
I do this because that is when the labor force participation rate peaked at 67.9% in July 1999. The employment-population ratio also peaked at 64.9% that month. Compared that to today’s dismal 27 year lows of 63.9% and 57.6% respectively.
Simply put keeping the 1999 ratios we have 140,580,000 workers today compared to the 148,681,000 we should have with limited federal government and sound economic policies. The civilian labor force is 153,683,000 but under the 1999 criteria it would be 157,278,000. Doing the math the “1999? unemployment rate would be 10.6%, not 8.6%.
http://usa-wethepeople.com/2011/12/latest-unemployment-rate-is-10-6/
That would explain the flash crash currently under way.
btfd
You first.
I loled.
Silver might go down to 27, nice price to load up....if you can find any.
It will come, but only when everybody beats gold down to near-support.
This had already leaked. It is why gold was getting smacked down.
Still is too: http://www.oilbull.com/gold-price/
All the talk of liquidation, etc. The simplest explanation is the likely explanation.
Wait for gold to get near support, but not touch it, then emergency QE gets announced.
enough of these bullshit everytime gold drops. its always liquidation, manipulation, blah blah blah. face it_--its called DEFLATION, DELEVERAGING, its called NO PRINTING. and dont tell me its like 2008. its not. oil has remained at or near 100 despite all other commodities dropping. ben has no room to make lsaps without setting oil ablaze to 200/bbl which would crush the dreams of a recovery.... and stocks are doing just fine for all of the 401kers/pensioners/iraers, etc. everybody wants to believe ben is the robot who prints, but he has seen qe2 do nothing except cause a spike in inflation. PRINTING IS NOT COMING ANYTIME SOON!!!
Not till market bottoms after Europe implodes. (maybe next Summer)
Very Hugh Hendry esq of you kito. Agreed. All this shat has been bought on margin. It will come crashing down in horrible fashion.
I specifically said it wasn't liquidation over the past few days. It was gold forecasting that there would be no QE announcement.
As for an emergency announcement of printing - it doesn't necessarily have to be a conspiracy. It could come out of necessity. Plus, that fits nicely with the fact that the market is gonna screw the maximum number of people. They're all unloading gold right now.
Kito, it's been deflation since 2001.
What we see now is the last stage of deflation, and the first stages of HI.
ahmeexanal, i enjoy your posts, but i dont agree. there is absolutely nothing whatsoever to demonstrate we are on a course for hyperinflation. ben knows that printing cant save insolvency. its simple. they may have been deluded in 2008 believing that the primary issue was one of liquidity, but the fed sees it differently now. there arent enough dollars to go around, with the shortage getting worse every day, as digital dollars disappear by the minute, and yet we are to believe that somehow this is a path to hyperinflation? sorry, no.
Absolutely nothing? Only the sith deal in absolutes Mr. Kaelin. Here are some things to consider for why we are on course for hyperinflation.
1. ZIRP through 2013
2. Bernanke has not failed to print money as soon as falling asset prices start freaking people out. Just because he knows printing won't fix the problem doesn't mean he won't do it. If deflation happens the highly leveraged TBTF banks will crash in no time since at 50:1 leverage for example it only takes 2% deflation to wipe them out completely.
3. Digital dollars aren't disappearing. The only way that can happen is if the Fed contracts the money supply, yet M2 has been ever increasing this year.
Deflation may be the heavy force in the market, but whether we actually get inflation or deflation is entirely dependent on if the money supply is expanded or contracted. That's the definition of inflation: increasing the money supply. A credit crunch causing market selloff isn't even deflation, it's just liquidation.
zirp through 2013 and nothing (absolute ) has been stimulated. why, no demand of course. no demand? what might cause that? deflation and deleveraging perhaps?
digital dollars are disappearing. thats deleveraging, asset devaluation and destruction. something is worth 100 today on the books is bid or bought for 80 tomorrow. thats digital dollar destruction. plain and simple.
if the world is flush with dollars, why the swaps mr napier? dollars are tight my friend, certainly not an indication of hyperinflation.
have you checked the value of the dollar lately? sure doesnt look like its strength is eroding........
Mr Giltters
what if the words "Bail out" , "emergency " "QE" never get placed in the news ..
Back-stoping seams to be the Jew boy way of 2012 ... dont have to do much .. just give the ok of Trillons of fall back if and when needed. Then the shell game starts of moving it around Hens shadow banking
What will happen one day , is naked short selling will be exposed because they can not cover or steal ..
Naked short selling is counterfeiting. The "House" can create new poker chips all day long out of nothing but your imagination.
Dark Side of the Looking Glass: Part 1 - YouTube
Those over on the borders of Jordan and Syria.
Nothing to see here, go on your way.
That's just a chess move. Syria wouldn't even think about it.
We are not going to risk another Kuwait.
Well, as soon as everyone gives up looking for a job, the rate can fall all the way to ZERO. Don't you just love Governemnt statistics??
Measure unemployment the way they used to in the 1930s. Then come and tell me about that 8.6 figure they pulled out of their ass.
Have to keep it under 9 for the POTUS election.
QUESTION: How fucked is Bill Gross today?
Not done well since his #2 left.
http://www.businessweek.com/news/2010-12-03/pimco-s-mcculley-to-leave-investing-for-think-tank.html
Wasn't McCulley leaning a little towards MMT??? Looked like a macro disagreement to me.
QUESTION #2: How fucked are all the poor sods who were hoping for a Santa Claus rally?
Depends on how much lube Santa carries.
simply put,... we must except the lies as truth - to survive
nice
Also, Bernanke took so much abuse over QE, what do you expect?
no special stocking stuffer
Haha, yup...and Evans can keep sucking my cock....hmmm, I mean his thumb.
Looks like January 2012 if at all for QE3. Now all market has to look forward to short-term is EZ ratings downgrades. Santa rally has been cancelled.
QE3 is already happening. But unless they come out and say it in the open, the markets will not respond.
you mean someone didn't tell the HFT's!
This was a story awhile back, but never got traction. MOPE is working..
Fed has been monetizing the debt for years. You are right, people only care when they are outright told it is happening.
be nice to see Euro break 1.30 this week
No public dislcosure of QE3, however, under the rug shenanigans continue.
Phu ck Evans, asxhole
How can you just leave me standing,
alone in a world that's so cold?
Consumer spending is advancing...LOL! Wait til the next meeting notes that say otherwise, then come March it'll be QE3.
The unemployment rate will drop when the 99 week wonders time runs out.
Unemployment at 8.6 and falling what do you expect? Yes that number is complete fraud, but its there and the fed cannot ignore it when considering more QE. Dual mandate bs prevents it. Poor crackhead market not getting its fix anytime soon.
So whats the reaction from PIMCO? Didn't they bet billions that the FED will do QE3 and MBS buybacks??
Hope the guys that positioned for QE3 have some water-based lubricant... they're going to need to rub it all over their anus.
and your wonder trade is whaaaa? Buy USD? dumfluff. folks like you don't get basic trade. until the USD is significantly cheaper there will be no US employment growth and until unemployment comes down, there will be no growth. I mean, all you have to do is pay attention to know the end game is accelerated depreciation of the USD and that buttman yields a singular outcome.
Since you asked:
short term trade - Short ES
Long term trade - Long physical metals (acquiring slowly when on sale), guns, ammo, food, and physical currencies to GTF out of the home country if needed.
Good luck finding a safe place to GTFO to, as this is going to be a global implosion. Might be better off buying a place in ND or Montana.
Already have the safe haven country, property, and self-sustaining environment. Everyone should have a plan B in today's environment.
In the next few days, there will be a few announcements about ability to ease, lending rates dropping, something...
The cause is always the same, the action is always the same.
What do these crooks even talk about when they meet? They can just Xerox the same shit because it's always the fucking same!!!
True Money Supply Chart – Source: Ludwig von Mises Institute
“Notice in the yearly monetary aggregate chart, where ticks are full years, that the 2010 and 2011 years show a steady linear growth.” (Jim Willie)
http://mises.org/content/nofed/chart.aspx
“The US Federal Reserve has fooled a lot of people into believing that the grand monetary pump and debt monetization project has been put on hold. The only thing that changed was their talking publicly about it. The money press has been working to the limit, never stopped. The discussion has been kept quiet, but the machinery still makes a lot of shrill noise. The proof is not movement of lips by central bankers, but the data from the monetary aggregate. The data is compelling in calling them out. The conclusion to reach is that Quantitative Easing has become the norm, the foundation policy, the emergency action to prevent implosion of the US banking system. Hyper monetary inflation is the New Normal.” – Jim Willie
Global QE! courtesy the American people!
So the only thing that has stopped is the announcements?
Well, figures. The more you obscure the situation, the less likely that you have to face the consequences. See Corzine & team.
I have a feeling that announcements really don't matter anymore. The market cannot be happy or sad, when there aren't any people involved in it anymore. It just moves when the Fed and Goldman wants it to move after another block of investors leave the casino. Any sovereign wealth funds still playing might want to rethink their investments if they don't want to end up like the Libyans who are about to lose all the perks they enjoyed under Gadaffi, and turn themselves into another 3rd world shithole while their oil is pumped out doubletime by Occidental guarded by Blackwater goons. No more free falafel for you, Mohammed!
Looking at CNN or MSNBC is like looking at Soviet-era government fudged reports on the latest bumper potato crop, alongside the usual Orwellian 2 mins of hate against whoever the USA is invading next.
Sad but true.
FAZ is the winner.
Get your TLT while the gettings good
Yes, all of this is to try to hold the markets, but the tsunami waves grow higher behind the levy…
"this is your capitan speaking, were coming in for a smooth easy landing. We should touchdown in just a few minuites, withnolandinggear uh cough cough"
And boom goes the dynamite.
Bill Gross urgently needs lube!
They can't justify more QE3 with SPX 1,240. Now if it were 1,040, that's another story....If S&P downgrades, and maybe a default in EU, SPX will hit the low range target in 3-4 days and open door for Jan QE.
I didn't realize you could trade the Times New Roman Font market...
Bullish
Do we really need the fed to admit they are doing QE and call it QE? LOL.
EVerything that comes from the FED is LIES! The FED is the means of debt enslavement. The FED must be destroyed!
TBTF waterfall, bitchez.
QE3 will be a gift from Bernanke for Obama
At this point it'll be too late, he might as well keep it.
Santa's reindeer just went on QE strike. Looks like the elves are going to be real busy trying to keep the markets green for year end window dressings.
eurusd just dropped like a aged Kardishian implant.
So long Christmas rally. No bonus for the bankers this year. :(
I love when my screen is mostly red. Except for the magical tickers, SPY and DIA.
Amazing.
SPY will go red by EOD. Do not worry.
Morgan Stanley's still green...
Citi, too. Wait for it, though, they'll be bleeding soon (I hope).
The Fed should just say there is no unemployment.
Or they could ban the use of the word - remove it fromt the dictionaries.
Banning words is un-American. We like to change their meanings instead. How about changing the meaning of 'unemployed to 'lazy'? That should make Joe Sixpack (who works 'hard' all day in government or an industry benefiting from government) feel like a 'productive hero' who is carrying the world on his back.
or at least subtract the 8% of th popluation that is UNEMPLOYABLE.
now on to the next dog and phony show- when do we have to raise the debt ceiling
The market can not be happy, so here go to the 1300 area folcks...
Is there anything to hold the Euro up short term now?
Oh yea, remember the days of "soft landing". Heh
Wow, the maket plunged on that news. All the way down to...yesterday's close. Oooh. How many billions did the PPT just spend defending that level. To step in so heavily so soon is a bit unusual. What's changed? No shorts to cover and slow the fall?
Yes, they're working overtime for sure. There is no way we'd be so flat considering the fear in the market. There is no reasonable explanation why the VIX dropped so fast in the last 48 hours other than the Bernanke put.
Anyone else notice the HUGE break of a nearly perfect correlation between EURUSD and ES? It certainly looks to be much much weakercorrelation in the last 48 hrs.
$100K could be sent to every US household and Charlie Evans will still vote for "more easing".
And for all the easing and twisting most proactive thing the Fed could do for US housing would be to announce that rates would start rising 6-9 months from today. Start at 1.5% and signal that they will rise until they hit 3%.
Would have side benefit of assisting with the proper allocation of capital away from the casino known as the stock market and towards actually investing in productive assets.Help those on fixed income, and those facing retirement in the next decade.
Alas the Fed can't do that because Geithner can't handle higher rates.
Oh!what a tangled web we weave. When first we practise to deceive.
This is actually the best move they could do. Send every household a check for the national avg. household debt, excluding mortgages. It's basically a debt jubilee except it doesn't harm savers, and is fairly neutral to positive for most banks. Price inflation could be held in check by raising interest rates back up.
I'd use the proceeds from the break-up and fire sale of each TBTF bank to pay for it all, the rest goes to pay down the national dept.
People bailout Bitchez!
Just think when we get it and put it back into the bank, we can start the hypothecation all over again. /sarc off
Bernanke just took a golden dump on the market.
ZIRP fo-evah, that's not 'dovish'?
if 'tptb' want obama another 4yrs,... they will wait til the most opportunistic time to implement qe3, and not just for mbs either - but a full hyperbolic flood of greenbacks [or whatever color they are today] on our mountain's, valley's, and shiny sea's
jmo
only way for the A-HOLE to get re-elected is to stage a war next september, october! a sitting A-HOLE president never lost a second term during war! like we need the A-HOLE to protect us!
G O L D indeed.
S&P downgrades this week would really throw the whole thing into chaos.
don't look now but squid got zapped on a bove downgrade. :)
that huge spike were the insiders closing their positions before shorting! but, we all knew that right?
Robo, calling Robo, oh where are you Robo?
This is one of his "can't miss" stocks....
http://finance.yahoo.com/echarts?s=LULU+Interactive#chart4:symbol=lulu;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
dont worry they are just putting the final touches on the latest market moving rumor.we should have a pool , the one closes get to call him/herself king/queen for a day
Mr Market no likey
Someone better do something. Ben? Yo. Get on it.
I have had enough of this charade I want these bastards the hell out of this fuckin economy, they are ruining every market, it is impossible to make a rational investment.
Call the floor for gold, 1550 by EOY.
This bomb sure has a long fuse.
Herbert Hoover states in his Memoirs:
“In replying to Roosevelt’s statement that I was responsible for the orgy of speculation, I considered for some time whether I should expose the responsibility of the Federal Reserve Board by its deliberate inflation policies from 1925-28 under European influence, and my opposition to these policies.”
He later termed Gerald Swope’s “economic planning” for the New Deal as “the precise pattern of Fascism,” as the idle rich swept into Washington under Roosesvelt to, as someone said, “amuse themselves with government programs.” Swope was elected president of GE in 1922.
According to the Gale Encyclopedia of Biography: ‘”Because of the ‘Swope Plan,’ as it was called, Franklin D. Roosevelt called upon Swope to serve in a variety of roles in the New Deal: member, Industrial Advisory Board of the National Recovery Administration (NRA) (1933), an agency run by Hugh Johnson; member, Bureau of Advertising and Planning of the Department of Commerce (1933); chairman, Coal Arbitration Board (1933); member, National Labor Board (1933); member, President's Advisory Council on Economic Security (1934); and member, Advisory Council on Social Security (1937-1938). His service did not end with his retirement from General Electric: he continued to be honorary president of the company from 1940 to 1942 and president from 1942 to 1944, as well as serving in the government's war effort. He was an assistant to the secretary of the treasury in 1942. At the same time he was chairman of the Committee to Study Budgets of Relief Appeals for Foreign Countries, a service which won him the 1942 Hoover Medal.”
Read more: http://www.answers.com/topic/gerard-swope#ixzz1gRgPltxv
Ironic.
Hoover was a doll. Obamavilles abound.
The Federal Reserve “System” is nothing more than a criminal syndicalism - in a war of destruction by parasitic bankers on the products of human labor to paralyze all opponents in an attempt to conquer the earth, politically and financially.
The peoples of the world are rising up to destroy Big Brother, to stop his boot from stamping on the human face -- forever.
today's summary:
bad
---------------------
- no explicit Fed printing
- no ECB printing
- no IMF turbocharger
- imminent sovereign and bank downgrades coming
- retail sales sucked
- legal challenges to any EU treaty changes
- Iran getting really frisky
- Greece haircuts now rejected
good
---------------
- German consumer confidence was up
ES is currently -1.75, which totally makes sense.
Why would they usher in QE3? All they have to do it push Ctrl + Alt + F9 on the PPT keyboard and everything is right as rain...
Ok...so once the sugar-high losers who just simply want more & more QE finish puking, won't the guys who actually see the slightly more upbeat economic assessment as positive jump in and buy? You just can't win with these frikkin people! If you get QE they scream and yell about inflationary debasement of the currrency and so on, and yet if the economic outlook is slightly better, and QE isn;t needed, then they pound the mkt anyway...
no wonder nobody on the retail side wants to play anymore...
My bet for the next market rallying rumor is Liesman will pop up on CNBC, look like he is going through some very important just released papers from an unnamed Euro official. After examining them for a minute he will say that the brick countries and the U.S. after consulting with LaGarde are going to really give the IMF the Bazooka they need, a real DOOM style BFG to mutilate the EZ problems, like Brawndo mutilates thirst. This will be dis-proven five minutes later.
Unemployment soaring;
Crime up;
House prices still in a Death Spiral Downward;
Stock market tumbling;
Corporate profits sinking;
Fed is doing nothing.
What did you say the Fed's mandate is?
Liesman will report that Obama is going to embark on a new Marshall Plan, essentially a takeover of southern & Eastern Europe....which will coincidentally involve putting up some serious nukes along the Polish/Hungarian/ Romanian corridor (supposedly aimed at Iran but actually aimed at Putin). They'll throw in a couple of hundred Billion, the IMF and the ECB will throw in another 300 billion. They'll leverage it up to 2 trillion, and Obama/ Sarkozy/ Merkel will win their respective elections.
Jeez...I gotta stop sniffing this model airplane glue...
1.29 Euro handle soon enough. When was the last time we saw that? Heart of 08 crises?
Also the world cannot handle anymore Liesman at this point.
I can't handle much more Liesman either. I feel like I am getting my two minutes of hate when the guy comes on. I heard he was a good guitar player once, maybe he could go back to it.
Ben is going to look like an idiot when he goes into emergency printing mode instead of getting ahead of the curve. Oh who am I kidding. Ben is an idiot.