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Pundit Humor Extraordinaire Courtesy Of Brian Wesbury "Gold is done... and so is the Fed."
From financial pundit extraordinare Brian Wesbury, as of March 1, 2012.
The bottom line is that even though Bernanke wants to make the case for QE3, he can’t. In fact, better news on the economy has cut the Fed off from doing more massive easing projects. In the end, we believe the Fed has finally run out of justification for its excessively easy monetary policy. As the quarters ahead unfold, the prospects of more ease will continue to wane. This is good news for stocks – which do not do well with accelerating inflation – but, it is bad news for gold. Gold is done….and so is the Fed.
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Never underestimate the ineptitude of the Chairsatan again Mr. Westbury. Ever. #OPM
sign me up for his newsletter
It's ever so sad.
Many years ago, seems like a few centuries, way the fuck back when before the markets were completely captured by algos and corruption, when the institutional investment managers moved markets, before brokers fucked Ma and Pa Kettle in Albuquerque (yes, there were those times, comparatively) Brian was a top notch Fed watcher and economist who had a tremendous following.
The world changed.....
T'is sad.
As disputably the best philososher of the 20th century was fond of saying; "To assume all things remain unchanged is illogical."
-Commander Spock
Kettle Falls is in Warshington. The "r" in Warshington is silent.
@knucles
Correction: Spock was the best 24th century philosopher we ever had. That said, hindsight is always 20/20.
It's hilarious using a Spock quote to explain the mind-bending "logic" of the Fed. When I think of it, the only problem with Wesbury is that his argument is too logical. Perhaps a George Costanza form of logic is what's needed: expect the opposite of what logic dictates.
I grant you that Costanza could be a genius at times.
If Bernankne announces that the Fed is going to dry up liquidity by selling it's MBS and Treasuries however, I fear we would experience the onset of TEOTWAWKI in mere minutes.
I can pay for that in Vietnamese Dong, right?
Yeah, but that slimey Todd Martin sure was "definitely sure" calling the bottom at 1070. How did he know? Do you think he is Bernanke's lover?
When I saw the headline I was wondering if Graham Summers maybe wrote it.
Bernake and Gold seem to have a pulse.
Another doosh that should be looking for a job.
Haaaaaaaaaaaaa
Poor guy.
USA = Japan2.0
I'm obviously late to the party. I'll never short anything again. Only Metals, Miners, and Munitions from now on.
With the incoming food inflation I am not sure miners are very safe.
Why? If the employment picture remains bleak, eventually someone is going to have a lightbulb go off and say: "Yeah- digging rocks out of the ground, smashing them, and refining the metal within is legitimate work, isn't it...? Maybe we could employ people to dig up rocks"
Becuase the miners will riot and eat the owners, managers, and supervisors.
YES ... Physics!
Yeah, the is just more bullshit pacification, blah, blah, fucking blah. The real bottom line is that the bearish media has done a superbjob at getting money flowing into the casino from the people shorting the market. Period. This is truely one bad ass bull market, regardless of what some bullshit government economic reports say. I have fought this thing the whole way up and now it is clear the dow will hit 20,000- wtf am I thinking, 30,000. Inflation be damned.
I wonder if this guy could mow my yard this afternoon. I'd pay him $40.
Hey, when you're wrong 95% of the time, you're right 5% of the time.
But if you're wrong 100% of the time, you're even more useless than a broken clock.
Perfect contrarian indicator dude. 100% wrong is just as valuable as 100% right! ;)
Jim Cramer's followers have more common sense than this putz.
What a tool...Everything he says lacks logic.
hahahahhahahahhahahah
guy's a riot...glad I sold my gold when he told me to...I loaded up on Dell....whooo hooo
If Dell starts making Gold plated laptops that's a great investment!
Agree. There is NO CASE for QE3. Other than creating asset bubbles prior to an election.
http://confoundedinterest.wordpress.com/2012/09/13/fed-pulls-the-trigger-with-new-bond-buying-program-40-billion-in-mortgage-backed-securities-per-month/
With low money multiplier and velocity, it WON'T WORK for the economy. Only create pre-election bubble.
http://confoundedinterest.wordpress.com/2012/09/13/prior-to-fed-announcement-jobless-claims-rise-poor-money-multiplier-and-velocity-hampers-feds-efforts/
If QE will make the rich richer and the poor poorer, why don't the palms-up crowd (i.e. welfare recipients, occupy wall streeters, bleeding heart libs, etc.) protest? Are they that stupid?
Yes. Remember those same Occupy geniuses were calling for MORE government intervention to fix the problems, that were caused by.... government intervention.
The trick is to call the Orwellian legislation by a catchy, do-gooder name. They never look to see what the law really says, or think about what the impact will be. If the TV says it is going to help, and it has a catch name, then you are a racist if you oppose it.
obviously not reading ZH if thats yor definition of the "palms up crowd"
My IQ dropped after reading this, who is this joker and how does he stay employed?
Bernake is such an idiot. Nobody wants a god damn house--it's a LIABILITY, and joe sickpack is broke. Full retard!
But, I loaded up (8k) on silver yesterday, so I am a happy yet terrified man.
Silver and gold might be a good investment today, but its looking like the best investment for 2013 might be guns and ammo.
GOLD IS DONE!!!!!! yeah right ....GAME SET AND MATCH
Low Hanging Fruit.
I think Jeffery Christian also might want to crawl back into the swamp that he crawled out of.
Oh?
When did he ever crawl out?
The last time I checked, he and Jon Nadler were making sweet troll love on the mucky bottom, as the pond scum looked on from above with disdain and disgust.
Well Gensler is somewhere in the middle.
Ha that gave me a good laugh +1 akak
Still better than this other clown Roubini. Haven't heard from him a lot since gold bottomed out. He only comes out after major drops. Still, his team permanently harasses market participants whether they don't want to subscribe to their "excellent research". "Do you know Nouriel Roubini? You know, the guy who foresaw the financial crisis...". Disgusting.
That fiat-loving Count Chocula can kiss my gold-plated ass.
Roubini can go fuck his apartment walls.
Besides, Michael Panzner's book Financial Armageddon did a better job of predicting this crisis than Nouriel Wallhumper did.
http://www.financialarmageddon.com/2009/02/a-breakingviews-the-doomsayer...
Man, I sure didn't need that mental image, but damn if it isn't funny.
I've always found it bizarre that someone could be seen as a expert on anything when their crowning achievement in life is creating a trophy wall of vagina's.
Then again, those pagans that run the world might see it as a shrine of elite fertility?
100%+ of QE3 was priced in.
BUT THE RULE IS THE MARKET CAN ALWAYS PRICE IN MORE!!!!
Ben is buying more MBS, EVERYONE RUN OUT AND BUY YOGA PANTS AND POST ABOUT IT ON FACEBOOK!!!!!!
Does this mean we won't have to put up with Graham Summers ridiculous posts anymore?
Lower mortgage rate + higher gas price = SPR Release? fiscal discipline and all
I'm tired of this shit! Where's my fucking thingamjig money?
I think this guy must have gone to the Jon Nadler University of Economics.
"Dear MiniFedLove, enclosed is my resume and application for the position open in your GoldHateAgitProp Department ..."
If they are cool with printing infinite money, what does that mean for gold? There is no longer an exit point I guess... just keep it.
Uhhh, yeah, Ben says "I'm gonna buy more Twist-ed bonds, $40B / month, until things get better...." the market goes up 90+ points, including most of the miners / royalty companies that still have a pulse, and this guy says "gold is done..."
I hear the Titanic needs a new captain (at the bottom of the ocean); this guy's qualified. If he doesn't see that more Twist = money printing, then he belongs there.
Those of us that ski, call it a FACE PLANT! :-)
I've seen Wesbury with Kudblow. I'm surprised Wesbury isn't made to wear pom poms and a cheerleader uniform when he appears on TV
S&P 500 is up 5.8% from 3/1/2012 through now versus 0.79% for gold. Doesn't seem like his bet was too far off?
Ha ha ha....It's funny because we a have a guy in the office who listens to Wesbury religiously. I've been telling him he's full crap and he better be getting some gold ...his response is always.."well he hasn't been wrong yet".
What a shitty first....
This ramp-up is deserving of a South Park episode!
I can't wait to fade the trade! Every douche bag(Wall Street trader), is chasing Alpha, so as to take advantage of the open ended Fed. MBS repurchase program, with his/her severance pay, as they underperformed the (SPX)!
What a dickhead. And where's the Phoenix Capital guy.
Get on your dancing shoes boys.
2 questions: What symbol is Wesbury and how can I short him?
This goatee wearing turd is right up there with Gartman and Kass. Good for nothing shills that will be sold down the river by their overlords when they become useless.
He meant gold is done going *down*. Yeah, that's the ticket.
as long as ben is in charge, obumble, draghi and... well every politician that currently sits in office all over the world, gold and silver are the only andwer.
let's hope we get it cheaper again for the next 4 months
@AKAK
That fiat-loving Count Chocula can kiss my gold-plated ass.
ok, that was funny!
I have a college degree. I designed and ran multi-million dollar businesses. I retired at 51 with more money than I knew what to do with. And I have no idea what the fuck this idiot is talking about. Thoughts poorly conveyed, a story badly written. Zero Hedge should be a bit more selective in what ZH considers humor. I needed a laugh today as I watched the planet crumple and crumble, but didn't find one here.
gold, bitchez!
THE last laugh.
Bernanke is forcing Corporate Keynesianism by telling CFOs: "Spend your cash hoard now on 3% IRR return project" (transfer back to wagers) because I am very very nasty and I will destroy your cash.. Tonight a lot of CFOs are going to go "ahh ahh we need to do something with our cash". His strategy did not work initially because corporations though that the economy was back to "normal" and the consumer was "healing", now comes the realization and the Corporations will spend their dollars out of their greedy palms... (To paraphrase Keynes...)
As they do it, employment gets better, Gold gets wacked, stocks rally on employment numbers, and then.... wait earnings suck, and stagflation start to come and Gold comes back up and stocks sag badly again.... Here you have transfer from capital to wagers explained.
Did they intentionally mis-date the newsletter? Was it actually from APRIL 1st? That'd make sense...
"What have I done? My brains... are going... into my feet!" - Lord Dark Helmet