This page has been archived and commenting is disabled.

Quote Of The Week

Tyler Durden's picture




 

Our quote of the week award recipient is none other than Atlanta Fed's Dennis Lockhart for the following pearl of wisdom:

  • LOCKHART SAYS FED WILL BUY BONDS UNTIL U.S. EMPLOYMENT IMPROVES.

Considering that employment is bad because of Fed "bond buys", which are preventing price clearing and discovery, and perpetuating the worst capital misallocation environment in the history of the world (if not for Apple's professional line waiters), one should just replace "buy bonds" with "continue beatings" and "U.S. employment" with "morale."

And as a bonus:

  • FED'S LOCKHART SAYS HAS CONFIDENCE FED WILL KNOW WHEN IT'S APPROPRIATE TO START NORMALIZATION OF MONETARY POLICY

Translation: 'New Normal' monetary policy is like porn

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 09/21/2012 - 12:42 | 2818367 Mongo
Mongo's picture

Well, eventually unemployment will go negative and then it wont matter... BITCHEZ

Fri, 09/21/2012 - 12:49 | 2818395 Comay Mierda
Comay Mierda's picture

What he meant to say was MBS buys will continue until the govt owns all your mortgages.  then they got you by the ballzzzz

Fri, 09/21/2012 - 12:54 | 2818405 Pladizow
Pladizow's picture

If the Fed keeps buying MBS, and people once again start to default, wont the Fed become the worlds biggest landlord?

Print up all the magic paper you want and end up with all of Americas real estate!

Fri, 09/21/2012 - 12:55 | 2818423 eaglefalcon
eaglefalcon's picture

"If the Fed keeps buying MBS, and people once again start to default, wont the Fed become the worlds biggest landlord?"

 

you havent consider the fed's liability

Fri, 09/21/2012 - 12:57 | 2818436 ParkAveFlasher
ParkAveFlasher's picture

One should just replace "buy bonds" with "Paul Krugman" and "U.S. employment" with "Paul Krugman."

Fri, 09/21/2012 - 13:03 | 2818459 redpill
redpill's picture

 

Replace Fed with "Ike Turner", replace "buy bonds" with "beating Tina" and replace "US employment improves" with "until she loves me again"

 

Fri, 09/21/2012 - 13:07 | 2818472 Manthong
Manthong's picture

I tried drinking until I sobered up ..

That didn't work out too well.

Fri, 09/21/2012 - 14:01 | 2818589 12ToothAssassin
12ToothAssassin's picture

Why does this remind me of "The beatings will continue until morale improves"

 

(edit: poster below 'beat' me to it but I still like saying this)

Fri, 09/21/2012 - 13:17 | 2818481 James
James's picture

Poster below beat me to it.

Edit

Fri, 09/21/2012 - 12:55 | 2818427 Comay Mierda
Comay Mierda's picture

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

-Thomas Jefferson 

Fri, 09/21/2012 - 13:09 | 2818482 slaughterer
slaughterer's picture

If QE3 fails, the Fed will:

1.) start buying McMansions, McShacks and McMalls in depressed RE markets

2.) start buying REITS and MREITS

3.) start buying SPY/QQQ outright in daily large blocks

If Congress does not deal with the fiscal cliff, the Fed will:

1.) buy Treasuries in unsterilized operations

2.) increase purchases of MBS

3.)  extend ZIRP to 2020

Does not matter if all this does not correspond to their mandate.  It WILL somehow.  

 

Fri, 09/21/2012 - 13:28 | 2818559 GeorgeHayduke
GeorgeHayduke's picture

So let me get this straight, the paper that the Fed prints to supposedly buy all the MBS can become worthless, yet the paper indicating land ownership that they bought with their worthless paper will remain valid and valuable? And, the sheople of this country will honor this land ownership paper and become serfs? Seems likely considering how much the sheople have tolerated so far. Sure, the 'Merican sheople will bluster and rumble, but then the owners will wave some flags, start some wars, and threaten to turn off the TeeVee or inconvenience them in small ways like raising gas prices and that will cause the sheople to get in line like it always does.

Of course, those who can see the owner's schemes are running so hard to keep up that they can just watch and talk about it anyway. The owners know most folks who still have something to hold onto will be too busy running to keep or too unwilling to sacrifice it to do anything that might slow down the owner's plans. For all this talk about freedom around here and other message boards, perhaps the only true freedom is in giving up anything that makes you part of the great owner's Ponzi scheme.

Things get much worse before the sheep awaken or before it gets better. Now, it could get worse really fast or continue the slow burn as it has done since Reagan ramped up the corporate-fascist state. Either way, there will be lots of talk and message board posts from pissed off people, but that's about it. In the meantime the owners will be taking everything they can so that by the time the dupes awaken they will find themselves fleeced and only able to take out their anger on each other and low ranking minions of the owners. It's the usual playbook. No need for the owner's side to change anything when their opponents are so distracted and willfully ignorant.

Fri, 09/21/2012 - 16:34 | 2819219 Panafrican Funk...
Panafrican Funktron Robot's picture

"perhaps the only true freedom is in giving up anything that makes you part of the great owner's Ponzi scheme."

This is the alpha and omega of the solution to the problem.  Another way of putting it is "the only way to win is not to play".  The deck is stacked so heavily against us, but the deck is meaningless if you don't play the game in the first place.

Fri, 09/21/2012 - 15:27 | 2819042 Bunga Bunga
Bunga Bunga's picture

Then USA becomes the USSA.

Fri, 09/21/2012 - 21:30 | 2819715 whaletail
whaletail's picture

Then the USA became the USSA.*

*Fixed

Fri, 09/21/2012 - 12:51 | 2818407 Mongo
Mongo's picture

And since nobody got balls that still wont matter... and in case anybody got balls well... Enter the fema-camps...

Fri, 09/21/2012 - 12:54 | 2818409 hedgeless_horseman
hedgeless_horseman's picture

 

 

  • LOCKHART SAYS WHAT THIS COUNTRY NEEDS IS A GOOD $10,000 CIGAR.
Fri, 09/21/2012 - 12:57 | 2818438 mayhem_korner
mayhem_korner's picture

 

 

Sounds like a Clinton administration redux...

Fri, 09/21/2012 - 12:42 | 2818368 Capitalist
Capitalist's picture

Or until participation rate goes to zero.

Fri, 09/21/2012 - 12:45 | 2818374 Zola
Zola's picture

where do they find these lunatics ?

Fri, 09/21/2012 - 12:46 | 2818382 DavidC
DavidC's picture

Economics PhD classes.

DavidC

Fri, 09/21/2012 - 13:00 | 2818449 ZackLo
ZackLo's picture

Bernanke got a 1590 on his SAT's though! he must be smart!

This shit is just loonie toons now, Can the world PLEASE drop the dollar like they dropped gold FOR the dollar in the 1930's and switch to something else so we can just get the hyperinflation over already and start over.

Because the fed isn't going to stop until that happens, These people are clinically insane.

So when are they going to tell all these people getting mortgages that they are paid for? Might as well give the people the god damn house if you are buying the loan.

"Considering that employment is bad because of Fed "bond buys", which are preventing price clearing and discovery, and perpetuating the worst capital misallocation environment in the history of the world"

/\ that's it...and they are ALL IN.

"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."

- Ludwig von Mises

Fri, 09/21/2012 - 12:46 | 2818385 LawsofPhysics
LawsofPhysics's picture

Harvard, Yale, Princeton...

Fri, 09/21/2012 - 12:53 | 2818412 mayhem_korner
mayhem_korner's picture

 

 

Isn't it funny how the media always points out that so-and-so is "Harvard educated" or "a Yale graduate"...they never seem to care about folks who went places where they learned stuff (like on a rugby field or in their dad's woodworking shop).

Fri, 09/21/2012 - 14:43 | 2818888 ParkAveFlasher
ParkAveFlasher's picture

There are only so many ways to repackage, "thank you sir may I have another".

Fri, 09/21/2012 - 13:26 | 2818547 rustymason
rustymason's picture

Crazy like a fox he is. Bernak and his bankster buddies are worth billion$, control trillion$, get big awards, and lotsa chicks. The FED, like our school system, is enormously successful: the worse it does, the more money and power we give it.

Fri, 09/21/2012 - 12:45 | 2818376 earleflorida
earleflorida's picture

fabulous... 

just fabulous!

 

Fri, 09/21/2012 - 12:45 | 2818379 Metalredneck
Metalredneck's picture

Translation:  "We're gonna poison you untill you feel better."

Fri, 09/21/2012 - 12:45 | 2818380 LawsofPhysics
LawsofPhysics's picture

And when the yields all go negative the bond holders will start paying off the debt in earnest.  I wonder if the dollar will even last that long?  Millions of people, mostly retirees, paying uncle SAM and banks to lose their money.  "winning"

Fri, 09/21/2012 - 14:34 | 2818844 mkhs
mkhs's picture

If interest rates went up, savers would become wealthier.  Instead, the Fed prefers the illusion of wealth, the wealth effect.

Fri, 09/21/2012 - 15:21 | 2818994 akak
akak's picture

 

And when the yields all go negative the bond holders will start paying off the debt in earnest.

WHEN?

 

Yields have been negative for years now.

Fri, 09/21/2012 - 12:46 | 2818384 blunderdog
blunderdog's picture

I'm going to keep drinking until my alcoholism is under control.

Fri, 09/21/2012 - 12:52 | 2818411 monmick
monmick's picture

"Beer. Both the cause AND solution to all my problems." Homer Simpson

 

"Money Printing. Both the cause AND solution to all our problems." Larry Summers

Fri, 09/21/2012 - 12:54 | 2818416 mayhem_korner
mayhem_korner's picture

 

 

I note that Homer Simpson and Larry Summers both have the same number of letters in their first and last names. 

Fri, 09/21/2012 - 13:44 | 2818493 hedgeless_horseman
hedgeless_horseman's picture

 

 

Same BMI. 

Same wardrobe.

Same expressions.

Coincidence? 

You decide...

Fri, 09/21/2012 - 12:46 | 2818386 A Nanny Moose
A Nanny Moose's picture

The beatings will continue until morale improves.

Fri, 09/21/2012 - 13:01 | 2818452 pods
pods's picture

That is our motto at work!

Fri, 09/21/2012 - 12:46 | 2818387 Unprepared
Unprepared's picture

 

 

   LOCKMIND SAYS FED WILL BUY BONDS AS LONG AS U.S. ISSUES THEM.

Fri, 09/21/2012 - 12:46 | 2818388 SmittyinLA
SmittyinLA's picture

With mass immigration and "immigration non-enforcement" as policy America will never have no unemployment, so I guess the fed is buying bonds forever.

Fri, 09/21/2012 - 12:48 | 2818391 PeeramidIdeologies
PeeramidIdeologies's picture

Did it ever matter? Someone once asked me if you need well employed robust middle class to operate the economy of a country? I replied, Take a look around, and I don't mean your town....

Fri, 09/21/2012 - 12:48 | 2818392 Richard Head
Richard Head's picture

These Fed people are either psychopaths or simply retarded.

Fri, 09/21/2012 - 12:50 | 2818404 mayhem_korner
mayhem_korner's picture

 

 

That is offensive - why can't someone be both? Huh?

Fri, 09/21/2012 - 12:53 | 2818415 Kitler
Kitler's picture

Why choose?

Retarded psychopaths sounds about right.

Fri, 09/21/2012 - 13:22 | 2818479 JuliaS
JuliaS's picture

They're Fedophiles.

Fri, 09/21/2012 - 13:35 | 2818585 machineh
machineh's picture

... and they're gonna bang butts until U.S. unemployment improves ... or the vice squad kicks down the door.

Fri, 09/21/2012 - 12:50 | 2818399 mayhem_korner
mayhem_korner's picture

 

 

The game is almost over, folks.

Fri, 09/21/2012 - 12:56 | 2818402 Cult_of_Reason
Cult_of_Reason's picture

Employment is just an excuse for monetizing the debt.

They cannot say Geithner asked us to monetize the debt, so they use the unemployment excuse.

 They know the unemployment is structural and it will not improve anytime soon.

Fri, 09/21/2012 - 13:01 | 2818450 Dr. No
Dr. No's picture

Exactly right.  Its propaganda 101.  Bait and switch.  Create the illusion they actually care about employment when the primary reason is to line their shareholders pockets.  BTW, they must be overflowing by now?

Fri, 09/21/2012 - 12:53 | 2818414 Sofa King Confused
Sofa King Confused's picture

The Fed will buy toxic MBS shit off the bankers books until U.S. Employment improves or until banks are made whole again.

Fri, 09/21/2012 - 12:54 | 2818417 miker
miker's picture

These people are playing "hardball" but it only shows you how serious the situation has become.  Bernanke wants and needs inflation; more than what he has gotten to date.  Alot more.  He sees it as the only way out of this huge mountain of debt and inflated morass of assets.  If things turn south (and they are turning as we speak), and momentum builds, it's game over.  The whole, stinking pile will collapse on itself.  Still, I don't think he can get the inflation without further driving the economy into the ground.  The harder he monetizes, the lower the economy goes.  I personally think it is game over already.  But Bernanke probably feels like he has to try something, anything.

 

Sat, 09/22/2012 - 20:48 | 2821161 lotsoffun
lotsoffun's picture

oh.  the day i wish i could meet him on the street.  he just keeps emptying my pockets from a very long distance.  its' brilliant.

Fri, 09/21/2012 - 12:55 | 2818419 buzzsaw99
buzzsaw99's picture

1) housing is overbuilt

2) mortgage rates haven't budged. if they went to 2% there would be another spate of refis and that's about it.

clearly the fed is only helping banks and other bond/stock holders.

Fri, 09/21/2012 - 13:06 | 2818469 sgorem
sgorem's picture

"housing is OVER-RATED", there, sounds better.

Fri, 09/21/2012 - 13:19 | 2818524 ParkAveFlasher
ParkAveFlasher's picture

Housing is overrated?  Try living in a teepee.

Fri, 09/21/2012 - 12:54 | 2818420 whaletail
whaletail's picture

You know you read ZH too much when your planned comment based on the front page summary of this article is exactly what TD states in the article. 

Fri, 09/21/2012 - 12:57 | 2818424 sgorem
sgorem's picture

"lockfart says Fed will buy bonds until the US economy improves (snicker)", or when the cow jumps over the moon, or when pigs fly, or when we have a democratic government, when politicians are'nt bought off, when we can vote for someone who has our interests at heart, when the central banks collapse, when the shit hits the fan, when the extreme socialist/liberal media is defunct, when the sheeple wake the fuck up, when chickens have lips, or when Jesus walks through the door. Did I miss anything? What a sham, farce, joke, this whole eco-political world is today. Invest at your own risk. Stack em while you can, and supplement that with 308's, 223's, & 45's. (and also with something to deliver said supplements with).

Fri, 09/21/2012 - 13:24 | 2818545 Nehweh Gahnin
Nehweh Gahnin's picture

Ya, you did (forget something):  When Fox News starts reporting news.  Seems to fit in there...

Fri, 09/21/2012 - 12:55 | 2818428 evolutionx
evolutionx's picture
Security Cameras Can Now Identify People By The Way They Walk

The technology can be used to track individuals through areas monitored by CCTV (i.e. security) cameras by analyzing their "gait signature," or specific way of walking.

 

http://www.secretnews-compact.com/index.php?option=com_content&view=article&id=8388:security-cameras-can-now-identify-people-by-the-way-they-walk&catid=1:latest-news&Itemid=50

Fri, 09/21/2012 - 12:59 | 2818446 PiratePawpaw
PiratePawpaw's picture

They can tell by the way I use my walk, Im a womans man, No time to talk.

Fri, 09/21/2012 - 13:02 | 2818457 ParkAveFlasher
ParkAveFlasher's picture

Walk Like, an Egyptian.  (think about it)

Fri, 09/21/2012 - 13:03 | 2818460 sgorem
sgorem's picture

Sounds to me like a job for BLACK SPRAY PAINT MAN! Could be a future answer to this dilemma, no? reminds me when i was a kid, we'd shoot street lights out with BB guns and/or pellet guns. The city would send their man out to replace the lights and we's shoot em out a week later. Job security for him:)

Fri, 09/21/2012 - 13:34 | 2818584 pods
pods's picture

I would be happy if the security cameras would just capture all these false flag events.

Like the London Tube bombings.

pods

Fri, 09/21/2012 - 14:41 | 2818880 viahj
viahj's picture

gonna need a Ministry of Monitoring Silly Walks then

Fri, 09/21/2012 - 16:41 | 2819239 Panafrican Funk...
Panafrican Funktron Robot's picture

Well, we're all going to be high stepping pretty soon anyways, so...

Fri, 09/21/2012 - 12:57 | 2818435 PiratePawpaw
PiratePawpaw's picture

Kinda like fixin' a flat tire by lettin' the air outta the other three.

Fri, 09/21/2012 - 12:58 | 2818443 lizzy36
lizzy36's picture

They need to send K-Y to each citizen in US.

Fri, 09/21/2012 - 13:04 | 2818461 Bastiat
Bastiat's picture

A gratuitous courtesy -- don't expect it.

Fri, 09/21/2012 - 12:59 | 2818445 the not so migh...
the not so mighty maximiza's picture

infinity bonds....no maturitity

 

Fri, 09/21/2012 - 13:04 | 2818456 dizzyfingers
dizzyfingers's picture

Quote: If the Fed keeps buying MBS, and people once again start to default, wont the Fed become the worlds biggest landlord? Print up all the magic paper you want and end up with all of Americas real estate! Unquote

Yes, and no jobs. The endgame...what it always was all about. Totalitarianism and slavery. It's why no matter who's elected, this is what we'll get. Every vote of my lifetime brought us closer. Now it's over.

Fri, 09/21/2012 - 13:41 | 2818576 Bam_Man
Bam_Man's picture

Yes, absolutely.

And the irony is at that point, the dollar will no longer be "backed by nothing". It will be backed by most of the residential real estate in the US. Quite a plan they have.

Fri, 09/21/2012 - 13:04 | 2818463 Guns N Metals
Guns N Metals's picture

Our Keynesian masters are all drunk on their own kool-aid.

Fri, 09/21/2012 - 13:37 | 2818592 machineh
machineh's picture

If we'd only spiked it with wood alcohol, our problems would be over.

Fri, 09/21/2012 - 13:05 | 2818467 Jim in MN
Jim in MN's picture

I guess I gotta blame excessive Slurpee consumption cuz man, this is like epic brain freeze.

Fri, 09/21/2012 - 13:06 | 2818471 JR
JR's picture

These people have got the Fed, they’ve got the currency, they’ve got the Congress; the way to stop them is to reveal to the people that this is a private cartel that takes all the value they can possibly get from the economy for themselves.

You can’t run a country when you have thugs in charge, thugs that can’t stand to take just windfall profits; they’ve got to have it all, to see it all broken.

They think they’ve got it, but you know what?  They don’t; the concrete beneath their feet is breaking. The people are figuring it out, and ZH is the leader.

 

Fri, 09/21/2012 - 13:14 | 2818501 dcb
dcb's picture

You have just pointed out the irony of the fed statement, they pick something as a measurement indicator that their policy seems to cause things to be worse, and then can justify unlimted qe, so one has to ask what the real purpose of the qe is. "INFLATION"

Fri, 09/21/2012 - 13:40 | 2818607 JR
JR's picture

QUOTE (pointing to rising prices as “the effect” of inflation)

"Inflation tends to reverse the rules of economic behavior: where once it was prudent to save money, it becomes expedient to spend it; where once it was good business to supply customers with durable goods, it becomes profitable to delay the sale for the rising prices; where once creditors were those who were better off generally, it now becomes good business to borrow money and repay it with currency that is less valuable than when the loan was made.

"The solid citizen who is cautious and prudent can do well over the years by hard work, careful investments, and savings, when the money supply is stable.  His prosperity may even by described as virtue rewarded.  Inflation sets the stage for wealth to be gained in a different fashion: by borrowing, by holding on to goods for the inevitable higher prices, and by attending closely to the swift changes in the value of money.  Of course, there are many losers in this gain; those who have saved for old age may find their life savings wiped out, and so on."

--Clarence Carson, Ph.D., Basic Economics p.101

 

Fri, 09/21/2012 - 13:29 | 2818565 rayban
rayban's picture

Eventually in the next 50 years employment will pick up, and the FED will be able to say that they were right and that QE-infinity was successful. What a brilliant strategy! Bright minds indeed.

Fri, 09/21/2012 - 13:31 | 2818571 Pairadimes
Pairadimes's picture

Some future historian will have to choose the moment at which Western Civilization finally ended. This one is as good as any other.

Fri, 09/21/2012 - 13:34 | 2818581 helping_friendl...
helping_friendly_book's picture

MBS is killing the economy. Building more houses that won't sell built by illegals. How does this help the consumer?

MBS generation just devalues, my already devalued, house. We need to end the GSEs.

Fri, 09/21/2012 - 13:34 | 2818583 Joebloinvestor
Joebloinvestor's picture

HAHAHAHA

 

Yeah, the beatings will continue until moral improves.

Fri, 09/21/2012 - 13:39 | 2818602 BanksterSlayer
BanksterSlayer's picture

Lockhart just described the Ouroboros: the cycle of the Snake eating its own Tail.

 

The Ouroboros often represents self-reflexivity or cyclicality, especially in the sense of something constantly re-creating itself, the eternal return, and other things perceived as cycles that begin anew as soon as they end (compare with phoenix).

 

http://en.wikipedia.org/wiki/Ouroboros

 

Fri, 09/21/2012 - 13:40 | 2818610 vintageyz
vintageyz's picture

Every small business guy I know, as well as myself, are in complete gridlock now.  No hiring, no capital purchases, and to some extent, no customers.  The only thing that is increasing is requests for donations to charitable (?) organizations.  

Fri, 09/21/2012 - 13:41 | 2818614 RopeADope
RopeADope's picture

Last time I checked giving free money to every group that wants to compete with your business (f.k.a. money printing) means the old capital invested in your employees is devalued drastically, thereby making it more likely you will not retain your current employees.

 

So what the FED is saying is they will print money to destroy employment levels and will stop printing money once employment levels are healthy.

*Aflaac double-take*

Fri, 09/21/2012 - 13:49 | 2818640 jubber
jubber's picture

How must does this clown get paid? Gisajob

Fri, 09/21/2012 - 14:11 | 2818729 ekm
ekm's picture

I do not think it is humanly possible this guy be such an idiot.

He must be talking a book somebody gave him, but I refuse to believe he actually believes what he says.

I mean, there is idiocy, but it can't be, it can't be..............

I refuse to believe it.

 

Fri, 09/21/2012 - 14:41 | 2818879 glittering
glittering's picture

Why does the Fed think that, the result will be any different this time round, than the 1st QE when it bought $1.25 trillion  agency MBS?

 

http://www.newyorkfed.org/markets/mbs_faq.html

Has there been a lasting effect on the housing market or employment?

Fri, 09/21/2012 - 14:48 | 2818915 Scalaris
Scalaris's picture
  • LOCKHART SAYS FED WILL BUY BONDS UNTIL THE FED WILL BUY BONDS UNTIL THE FED WILL BUY BONDS.

Ad aeternum

Fri, 09/21/2012 - 15:04 | 2818960 tongue.stan
tongue.stan's picture

Here's The Quote of the Week:

"Considering that employment is bad because of Fed "bond buys", which are preventing price clearing and discovery, and perpetuating the worst capital misallocation environment in the history of the world (if not for Apple's professional line waiters), one should just replace "buy bonds" with "continue beatings" and "U.S. employment" with "morale."" ZH

 

 

Fri, 09/21/2012 - 15:41 | 2819055 Bunga Bunga
Bunga Bunga's picture

Fed should just buy jobs. $40 bln a month can feed 20 million.

Seriously.

Fed could buy those 7,980 structurally deficient or fracture critical bridges and rebuild them.  http://saveourbridges.com/

But instead they try to to inflate the value of uninhabited houses. Next they buy Atlantis to create wealth.

 

Fri, 09/21/2012 - 15:42 | 2819080 Urban Redneck
Urban Redneck's picture

Lockhart is pretty arrogant to assume the FED will still be around after HELL FREEZES OVER.

Fri, 09/21/2012 - 16:08 | 2819137 msnrochny
msnrochny's picture

LOCKHART SAYS THE BEATINGS CONTINUE UNTIL U.S. EMPLOYMENT IMPROVES

Fri, 09/21/2012 - 22:57 | 2819792 JGambolputty
JGambolputty's picture

Dr Bernanke will keep applying leeches until the patient improves.

Economics is about the same place medicine was 400 years ago.

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