This page has been archived and commenting is disabled.

Putting A Face To Einstein's Definition Of Insanity

Tyler Durden's picture




 

If ever there was a name and a face synonymous with Einstein's famous definition of repeating the same action and expecting a different unicorn-full world of happiness, it is Boston Fed's Eric Rosengren. Thankfully far from consensus among the Fed heads - though worrying fanatical - the hyperinflationary head used the propaganda channel this morning to pump hope into an increasingly skeptical market. In an effort to pre-empt a possible slowing global economy, his prescription is "open-ended quantitative easing triggered on economic outcomes". Fearful of the US merely treading water, Rosengren sounds like he admits that it's all about the flow when he shuns pegging interest rates as a 'trigger' since this removes control of the Fed's balance sheet to market forces (in other words - we need to keep printing and expanding the balance sheet no matter what rates or stocks are doing). Stunningly, the only limiting factor he sees to this open-ended print-fest is the size of the asset markets they are buying in - which he would like to see in MBS (and suggests his disappointment at the limited scope of assets available to the Fed). Just under nine minutes sums up the extremely dangerous experimental mind of an eternal optimist "if at first (or second, or third) you don't succeed..." as he shuns the impact on (transitory) energy price rises by pointing at the lack of inflationary pressures.

 

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 08/07/2012 - 10:34 | 2684543 vinu02
Tue, 08/07/2012 - 10:37 | 2684556 fireangelmaverick
fireangelmaverick's picture

How about an open ended lobotomy program for all Fed-heads?

I think we should try ot pre-empt their stupidity by slicing off their Frontal Lobes, assuming it evolved at all.

 

Tue, 08/07/2012 - 10:40 | 2684574 Lost Wages
Lost Wages's picture

Yeah, they are already void of empathy or intellect. I don't think a lobotomy would change much.

Tue, 08/07/2012 - 10:44 | 2684592 bigdumbnugly
bigdumbnugly's picture
Putting A Face To Einstein's Definition Of Insanity

i was fully expecting a picture of robot trader there.

 

Tue, 08/07/2012 - 10:59 | 2684639 Pladizow
Pladizow's picture

The insanity quote - is NOT Einstein's!

From page 68 of Rita Mae Brown's 1983  book Sudden Death.

Tue, 08/07/2012 - 11:08 | 2684690 Precious
Precious's picture

He didn't coin that.

Tue, 08/07/2012 - 12:27 | 2684851 engineertheeconomy
engineertheeconomy's picture

We need to print more so we can pay off our D.E.B.T. (Destruction, Extortion & Banker Totalitarianism)

Tue, 08/07/2012 - 16:00 | 2685651 Noktirnal
Noktirnal's picture

I never understood the quote being attributed to Einstein. Until recently, the only people that used this quote were people who attended AA meetings, or other 12 step programs. It's apparently one of their teachings. However, it is not the definition of insanity.

There are lots of situations, real and imaginary, where equal (read same) actions can produce different results. There are always external conditions (read variables) which can cause different results for the same actions. It happens all the time in science. Scientists are always doing experiments over and over. If it's the same scientist, he/she usually expects the same results over and over, unless the result was unexpected. Sometimes a different scientist will repeat the experiment expecting different results based on his own hypothesis, attempting to refute the former. Sometimes the latter agrees with the former hypothesis, and re-experiments to prove the former right. He/she also can get similar or different results. It is the nature of reality on the most basic level. I think repeating to see if the result is repeatable is perfectly sane. (In most circumstances; sometimes it just isn't wise and/or logical [or safe] to do so.)

Basically, I think the quote, whomever it may have come from, is total nonsense (read BULLSHIT). Even if observers may not like or agree with  the results or consequences of another's actions, I think that if the person keeps repeating the actions and keeps getting the same result is intending on getting those results, no matter how unintended the consequences may seem to those observing. Blaming insanity is a cop-out.

WE ARE ALL INSANE. We live on an insane rock, flying around an insanely large thermonuclear explosion that has been and will be going on for an insane amount of time. More insanity that there are hundreds of billions of other explosions all around of all different sizes and lifespans. Some are really, really insane to think about. All of these are flying at insane speeds around an insanely massive black hole, while the whole thing spins and flies at insane speeds through the universe among an estimated 125 billion others (most likely more) all flying away from each other at insane speeds from and as a result of an insanely large explosion of an insanely small object... and this whole thing just may be flying around at insane speeds in an insane soup of others. The really insane thing is it may just all be the figment of an insane collective (and/or singular) imagination.

Insane, huh?

Insanity sure is crazy and chaotic, but almost never boring.

Tue, 08/07/2012 - 10:54 | 2684634 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

I vote for the lobotamy, however he is not insane, just a corrupt mouth piece.

Tue, 08/07/2012 - 11:08 | 2684687 A Nanny Moose
A Nanny Moose's picture

I prefer a bottle in front of me.

Tue, 08/07/2012 - 12:38 | 2685056 Ying-Yang
Ying-Yang's picture

A gelding would be proper.... holds the number of offspring down.

Tue, 08/07/2012 - 13:48 | 2685227 Doña K
Doña K's picture

A double lobotomy is more appropriate as that will stop them from repeating.

But....let them do that and see how far they can get. Just load up on physical PM's. Listening to that, I may increase my ratio of fiat to PM's 

Tue, 08/07/2012 - 11:03 | 2684670 FL_Conservative
FL_Conservative's picture

I'll even offer to pay for it.

Tue, 08/07/2012 - 10:43 | 2684586 tuttisaluti
tuttisaluti's picture

that's not exactly the truth. somebody has to fabricate the paper, the ink, the printig press

Tue, 08/07/2012 - 10:46 | 2684602 AL_SWEARENGEN
AL_SWEARENGEN's picture

Fed Confetti.  The two names just naturally go together.. 

Tue, 08/07/2012 - 11:06 | 2684676 FL_Conservative
FL_Conservative's picture

Boston Fed's Eric "Buzz Lightyear" Rosengren.

Tue, 08/07/2012 - 10:36 | 2684553 FOC 1183
FOC 1183's picture

He says we need open-ended QE because prior QE hasn't created growth, then says open-ended QE will not create inflation because prior QE hasn't created inflation.  Mmmkay?

Tue, 08/07/2012 - 10:40 | 2684573 Dr. Richard Head
Dr. Richard Head's picture

He is part of a lonely circle-jerk logic argument. 

Tue, 08/07/2012 - 12:38 | 2685059 Ying-Yang
Ying-Yang's picture

Is that that similiar to Fed head?

Tue, 08/07/2012 - 11:35 | 2684820 dcb
dcb's picture

yes krugman does the same thing. of course you can always state you haven't done enouhg. it's one of the reasons I think economists are so fucked up

Tue, 08/07/2012 - 10:37 | 2684557 slaughterer
slaughterer's picture

Rosengren is a national hero, bravely going where even Ben is afraid to go.  

Tue, 08/07/2012 - 10:52 | 2684624 Dr. Richard Head
Dr. Richard Head's picture

These banksters have been going in and out of my, and the rest of the politically unconnected world of serfs, arse for years.  Ben already went there, Rosengren is just chasing sloppy seconds.

Tue, 08/07/2012 - 10:37 | 2684560 RacerX
RacerX's picture

Boy, talk about ignoring the elephant in the middle of the room. The real problem is production. Simply, production has moved overseas; China, India, Mexico, Brazil, etc. Until they address the trade agreements & other things that enable/encourage businesses to move production (mfg and service), we are kidding ourselves.

More QE? Seriously? How is printing money going to do anything for anyone--other than enable the gov't to keep spending.

Tue, 08/07/2012 - 11:01 | 2684662 Bay of Pigs
Bay of Pigs's picture

Simply put, it keeps the Ponzi alive. Without it, say goodnight Irene. 

Tue, 08/07/2012 - 11:07 | 2684684 Beam Me Up Scotty
Beam Me Up Scotty's picture

That's how these idiots think they will grow the economy. With gubbamint workers digging ditches and other gubbamint workers filling them in.

Tue, 08/07/2012 - 11:27 | 2684774 saturn
saturn's picture

Did he offer a hefty bonus for gubbamints too?

Tue, 08/07/2012 - 12:24 | 2685003 Renewable Life
Renewable Life's picture

But how are the people in the US going to buy all that cheap crap from China, India, and elsewhere at Walmart, Target, Costco, and Kohls, without unlimited lending and printing!!

Tue, 08/07/2012 - 10:38 | 2684561 BeetleBailey
BeetleBailey's picture

.....of course, interviewed by the asshat pedo-faced Steve Sleezeman....

Tue, 08/07/2012 - 10:38 | 2684563 Zero Debt
Zero Debt's picture

They said QE to infinity and were ridiculed

Tue, 08/07/2012 - 10:38 | 2684564 Jason T
Jason T's picture

 .. Rudy Von Havenstein style.. 

Tue, 08/07/2012 - 10:39 | 2684567 Hype Alert
Hype Alert's picture

What ever happened to the market setting rates?

 

I must be inhaling some refinery fumes or something.

Tue, 08/07/2012 - 11:10 | 2684704 Beam Me Up Scotty
Beam Me Up Scotty's picture

The funny part is listening to people talk about how free market capitalism is failing us. ROFLMAO!

Tue, 08/07/2012 - 14:24 | 2685323 Totentänzerlied
Totentänzerlied's picture

Funny indeed. Still funny when you realize they're 100% serious. No longer funny when you realize they outnumber you 100-to-1. Terrifying when you consider the events of the 20th century.

Tue, 08/07/2012 - 10:41 | 2684569 q99x2
q99x2's picture

I agree with insanity. Couldn't hurt at this point. I'm going all long with a gold chaser.

Tue, 08/07/2012 - 10:41 | 2684578 slaughterer
slaughterer's picture

The Rosgengren "ballz to the wallz" rally has begun.  Bears get out of the way.  

Tue, 08/07/2012 - 10:43 | 2684580 LawsofPhysics
LawsofPhysics's picture

The fear is palpable and he stinks of it.  Time for everyone to find out the real value of their labor, fucking bring it.  Atlas continues to shrug.

Tue, 08/07/2012 - 10:42 | 2684583 LongSoupLine
LongSoupLine's picture

"Rosengren"...enough said.

 

Fuck that asshole.  May he be hit by a runaway Boston metro.

Tue, 08/07/2012 - 10:43 | 2684585 XRAYD
XRAYD's picture

Any notion that the Fed gives a Flying Frying Pan about the economy or job creation is just for the media.

It is all about saving the bond and stock holders of the TBTF banks! And the bonuses of their "managers".

If Obama wins, he will appoint a clone of Ben squared. Ben was a Republican appointee!

Tue, 08/07/2012 - 10:43 | 2684587 HD
HD's picture

"Open ended large QE" is a defacto short ban plain and simple. The Fed can and will come in at anytime for any reason would make them the buyer of last resort on every significant dip.

We all know what happens to markets when they ban shorting...

Tue, 08/07/2012 - 10:51 | 2684622 Haager
Haager's picture

Looks to me like killing an already dead market.

Tue, 08/07/2012 - 10:43 | 2684588 Cheater5
Cheater5's picture

I have one question for these fucking assholes:  WHO IS GOING TO TAKE THE LOSS ON THESE MASSIVE BOND PORTFOLIOS???

If its the taxpayer then you are just moving money from one pocket to another.  Fucking pricks....

Tue, 08/07/2012 - 10:44 | 2684594 LawsofPhysics
LawsofPhysics's picture

Just like playing poker.  If you can't identify the sucker at the table, then it's you.

Tue, 08/07/2012 - 11:06 | 2684683 GetZeeGold
GetZeeGold's picture

 

 

Nutz.....you got me. I was totally bluffing.

 

Tue, 08/07/2012 - 10:43 | 2684589 Jason T
Jason T's picture

I grow my own food, own gold, cut my own hair sometimes, burn wood for heat which I can get from back yard.. man, it's good to be self sufficient with policies such as this are going to be tried.. 

 

Tue, 08/07/2012 - 10:58 | 2684651 francis_sawyer
francis_sawyer's picture

You grow your own gold???... Awesome!

Tue, 08/07/2012 - 15:20 | 2685538 Papasmurf
Papasmurf's picture

Like money, it grows on trees.

Tue, 08/07/2012 - 10:43 | 2684591 Hedgetard55
Hedgetard55's picture

$10 gas anyone? And a crushed economy. But DOW at 20,000.

Tue, 08/07/2012 - 11:21 | 2684743 bnbdnb
bnbdnb's picture

Gas reaches $5/gallon and the economy stalls completely. Everything will freeze up.

Tue, 08/07/2012 - 10:44 | 2684595 john_connor
john_connor's picture

This feels like late 1999 or early 2000.  eerie. 

Tue, 08/07/2012 - 10:46 | 2684601 Payable on Death
Payable on Death's picture

Sirens going off in the background. Even birds are protesting.

Tue, 08/07/2012 - 10:47 | 2684605 Shizzmoney
Shizzmoney's picture

Apparently now, if you dont have a FaceBook account, you are a psychopath according to most employers:

http://www.dailymail.co.uk/news/article-2184658/Is-oining-Facebook-sign-youre-psychopath-Some-employers-psychologists-say-suspicious.html

Tue, 08/07/2012 - 11:25 | 2684768 bnbdnb
bnbdnb's picture

Yes I am. Fuck you.

Tue, 08/07/2012 - 11:49 | 2684874 emersonreturn
emersonreturn's picture

facebook has launched an online gambling site...is that even legal?  weren't poker sites sent offshore?  FB must've joined TPTB?  

Tue, 08/07/2012 - 12:32 | 2685035 Renewable Life
Renewable Life's picture

WHAT???? With real money or some fake ass chips you buy, but never "cash back in"?????

Tue, 08/07/2012 - 11:07 | 2684609 khakuda
khakuda's picture

Not even a pretense that QE is an emergency measure anymore.  Plus, you have to love the backwards thinking.  We will raise asset prices and push them ahead of earnings, fundamentals and reality.  This capital mispricing/misallocation will cause improvements in the real economy. Maybe short term, but not certainly not lasting.

Incredible watching them encourage more speculative behavior over and over and over.

Maybe they can helicopter drop free booze at AA meetings or Frat houses, or condoms for that matter, as horny 19 year old guys need encouragement, too.

Tue, 08/07/2012 - 10:48 | 2684611 buzzsaw99
buzzsaw99's picture

typical joo banker

Tue, 08/07/2012 - 10:51 | 2684620 TrustWho
TrustWho's picture

He must be born in Kenya

Tue, 08/07/2012 - 10:51 | 2684623 orangedrinkandchips
orangedrinkandchips's picture

The SHARK economy......you must swim to live....the flow keeps it alive.

 

SPEED...that movie in the 90s with Reeves.....YOU CANT SLOW DOWN OR YOU BLOW UP......WELCOME TO THE GLOBAL ECOMONY.....

 

FLOW OR DIE......

Tue, 08/07/2012 - 10:53 | 2684629 jeff314
jeff314's picture

those jiouuu sure have done a great job with your economy....

Tue, 08/07/2012 - 10:54 | 2684635 Blopper
Blopper's picture

No wonder the banks are confiscating houses, in mortgage or otherwise.

Tue, 08/07/2012 - 10:54 | 2684637 scatterbrains
scatterbrains's picture

Gold is not buying any of this bullshit.  Don't forget gold is a central banker's (and friends and familys) best friend.  So far it seems friends and family are stepping away from gold for the time being. I wonder why ?

Tue, 08/07/2012 - 10:55 | 2684642 Caveman93
Caveman93's picture

Why does ANYONE care what this idiot thinks? 

Tue, 08/07/2012 - 23:25 | 2686632 PeaceLover
PeaceLover's picture

Watch Him.

body language.. sure looks intresting he kind of has a tell looks down to his right..
watch it a few times.

He was not NOT shooting from the hip..

 

go back and watch clintion

Body Language Anthony Weiner  Similarities to Bill Clinton, Tiger

http://youtu.be/AWwezekzlXA

http://www.nlp-practitioners.com/interactive/nlp-eye-access-cues-game.php

Or NLP.. not clear as the guys that give testamoiny want you to think.. but he was (if I was his boss) great under a lot of stress.

Tue, 08/07/2012 - 10:58 | 2684652 Henry Hub
Henry Hub's picture

Werther it's sane on insane, inspite of the MOPE, the FED has no choice. It's print to infinity. Hold on to your gold and your hat and enjoy the ride.

Tue, 08/07/2012 - 11:03 | 2684655 JustObserving
JustObserving's picture

What else can you do but open-ended QE when your debt is rising at $1.5 trillion a year and unfunded liabilties are rising at $6.7 trillion a year.  Together they are rising at $8.2 trillion a year or 53% of GDP (assuming $15.5 trillion GDP).  That is much worse than any European country including Greece.

With such monstrous debt, you have no choice but to print to infinity.  And suppress gold and silver so dollar appears to be a store of value.

Tue, 08/07/2012 - 12:36 | 2685050 Renewable Life
Renewable Life's picture

You can let capitalism back into the marketplace and let the toilet flush!!!

 

Tue, 08/07/2012 - 10:59 | 2684656 Rand
Rand's picture

They will print until collapse.

Tue, 08/07/2012 - 11:12 | 2684713 busted by the b...
busted by the bailout's picture

Liberty and free-markets have become just quaint, nostalgic notions. 

 

Central planning is now required here to compete with central planning there (China). 

 

And continual money printing here is needed to keep up with continual money printing there. 

 

It is MAC (Mutually Assured Collapse).  It’s a race to the bottom – to see who can debase their currency the fastest and thus garner more exports –  all brought to by the miracle of fiat money. 

 

 Enjoy the ride!  There is no turning back now!

 

Tue, 08/07/2012 - 11:00 | 2684660 shuckster
shuckster's picture

"Investment and Consumption are slowing"

Retail investors are running out of money to skim and consumers are too..."

Tue, 08/07/2012 - 11:00 | 2684661 SmoothCoolSmoke
SmoothCoolSmoke's picture

So, it this guy an advance man, or a red herring?

Hmmmmmmmmmmmm.

Tue, 08/07/2012 - 11:05 | 2684674 buzzsaw99
buzzsaw99's picture

<--- alien lizard

<--- pink lox

Tue, 08/07/2012 - 11:03 | 2684669 Dr. Engali
Dr. Engali's picture

I hope they print big and end this madness. The world is being run by madmen.

Tue, 08/07/2012 - 11:13 | 2684694 Dr. Engali
Dr. Engali's picture

"We have had 2 balance sheet expansions and the infaltion rate is 1.5%"

 

Why don't you calculate in those things people need to survive and then tell me what that inflation rate is you bunghole?

Tue, 08/07/2012 - 11:17 | 2684729 fireangelmaverick
fireangelmaverick's picture

Yeah but Iphone 6 is rumored to be edible and be able to power your car. so there..

Tue, 08/07/2012 - 11:12 | 2684712 LeisureSmith
LeisureSmith's picture

Maybe the Fed is a customer of Lacuna inc. would explain alot. http://www.youtube.com/watch?v=1GiLxkDK8sI

Tue, 08/07/2012 - 11:17 | 2684726 Venerability
Venerability's picture

Eric Rosengren?

And here most of us thought it was Larry Kudlow.

 

Tue, 08/07/2012 - 11:21 | 2684744 Apeman
Apeman's picture

The bird at 7:10 is not amused.

Tue, 08/07/2012 - 11:21 | 2684746 morning_glory
morning_glory's picture

I work for Goldman Sachs and I just came in my pants.

Thank you.

Tue, 08/07/2012 - 15:22 | 2685549 Papasmurf
Papasmurf's picture

Are you at your desk at the SEC?

Tue, 08/07/2012 - 11:25 | 2684769 Dareconomics
Dareconomics's picture

This is the typical interventionists’ ploy. The problem is never the intervention; it’s that we are not doing enough of it.  The first two rounds of QE and Operation Twist were successful in raising stock and commodity prices temporarily. Those actions even brought some consumption forward to pad present GDP numbers, but one thing it did not do was permanently raise growth.

Firms and consumers simply do not wish to engage in additional investment and consumption, and there is no indication that interest rates a little closer to zero are going to prod demand. Additionally, these low rates are distorting financial markets creating a huge bubble in the fixed income market and another equity market bubble.

Keep printing. Nothing bad will happen.

http://dareconomics.wordpress.com/

Tue, 08/07/2012 - 11:25 | 2684770 Benjamin Glutton
Benjamin Glutton's picture

These animals will print until the next generation picks up the slack.

Tue, 08/07/2012 - 11:26 | 2684771 HaroldWang
HaroldWang's picture

...to pump hope into an increasingly skeptical market

Huh?? Market is near year highs. How is that a "skeptical market?"

Tue, 08/07/2012 - 11:31 | 2684803 FRBNYrCROOKS
FRBNYrCROOKS's picture

Great! He wants to buy MBS. Just swell! I'm sure the Mexicans are happy to here we will be building more, unnecessary, housing. This is great for me to keep me mired in the house I can't sell so I can have my wealth frozen. These people are criminals. NOBODY IS GOING TO BUY A HOUSE BECAUSE THEY MIGHT HAVE TO MOVE TO FIND WORK!!!!  QE does not work. Ask Japan. I never thought I would see such idiots in charge on Monetary policy.

Tue, 08/07/2012 - 11:55 | 2684892 Father Lucifer
Father Lucifer's picture

Off with their heads................the small one first.

Tue, 08/07/2012 - 12:06 | 2684931 haskelslocal
haskelslocal's picture

It must be so nice to get paid for doing nothing more than repeating a dead script.

Tue, 08/07/2012 - 12:08 | 2684934 Random_Robert
Random_Robert's picture

"Seemingly Reichsbank (Federal Reserve)  officials believed that the basic trouble was the depreciation of the mark (dollar) in terms of foreign currencies (Euro,Yen). In late 1922 (2012) they tried to support the mark (dollar) by purchasing currency (dollar bound paper assets) in the foreign exchange markets. However, since they continued printing new currency (creating electronic dollar credit) at a feverish rate, the attempt failed. They merely succeeded in buying worthless marks (financial paper) in return for gold and foreign exchange (worthless dollars).

All hope of checking the collapse of the mark (dollar) vanished in January 1923 (2013) when the French (Chinese)--alleging treaty violations--occupied (purchased) Germany's (the US's) key industrial district (key resource producing companies), the Ruhr (Wall Street). Germany (the US) subsidized the occupied companies (Union shops) and financed an expensive program of "passive resistance." (propaganda) New billions (Trillions) of marks (dollars) were printed (created on a computer) to finance these heavy new costs. By late 1923 (2013), 300 paper mills (16 IBM Z/os mainframes) were working top speed, and 150 printing companies (banks) had 2000 presses (IBM mainframes) going day and night turning out currency (increasing DDA account balances).

Under the forced draft of inflation, business was now operating at feverish speed and unemployment had disappeared."

 

Unemployment is the Administration's target.  The Fed's liquid currency factory will do nothing but lubricate the machine once the gears are turning.

 

Hyperinflation has never occured in a militarily significant country - but there is no economic or monetary theory that says this is an immutable circumstance...

 

The US might just be the first to explore this exciting new territory.

 

Zero unemployment, bitchez...

 


 

 


Tue, 08/07/2012 - 21:15 | 2686408 flapdoodle
flapdoodle's picture

scientific notation, bitchez

Tue, 08/07/2012 - 12:40 | 2685060 Jumbotron
Jumbotron's picture

..."as he shuns the impact on (transitory) energy price rises by pointing at the lack of inflationary pressures."

 

I think this is the MOST DAMNING and DANGEROUS thing he said.  This proves to me (although I VEHEMENTLY DISAPPROVE HIS METHOD FOR FIXING THE ISSUE ) that the DEFLATIONARY hole blown apart by 500 TRILLION to 1 QUADRILLION in derivative contracts is such a financially COSMIC BLACK HOLE that apart from energy and food prices...that NIRP and ZIRP and CTRL-P will not bring about a HYPERINFLATIONARY holocaust until the very American people themselves rebel.

That wouldn't take long.....but then it would only rip the scab off the debt hole which will drive most of us to the poor house.

Tue, 08/07/2012 - 12:44 | 2685077 fresno dan
fresno dan's picture

"I don't know why these stupid low income people won't borrow more money and spend, spend, spend!!!  We GIVE trillions to bankers, than torture borrowers who default, and still the ignorant poor won't follow our prescriptions!!!!  They can sell their kidneys, lungs, hearts, childrens, and eyes, but they selfishly won't BORROW!!!! Geez.... what's a FED govenor to do???"

Tue, 08/07/2012 - 12:55 | 2685108 shuckster
shuckster's picture

The puppet masters have us all dancing energetically to their tune

Tue, 08/07/2012 - 13:33 | 2685184 giggler123
giggler123's picture

Housing recovery, buy now because of ZIRP - Come on in; the water's cold.   Eric Rosengren just became my ponzi pusher of the month...

Tue, 08/07/2012 - 15:32 | 2685574 khakuda
khakuda's picture

The Fed announced the extension of Operation Twist on June 20th and within the week, oil prices bottomed and have continued moving sharply higher ever since.  Rosengren is a fool and, sadly, a voting member in 2013.

Tue, 08/07/2012 - 19:39 | 2686181 WhiteNight123129
WhiteNight123129's picture

The only purpose of quantitative easing is to destroy debt and fleece the currency while trying to keep people in the dollar at the same. Actually a war is a good way to do both. Why are people even listening to those guys, I do not know...

 

Do NOT follow this link or you will be banned from the site!