First it was Jim Bullard in October, after US equity markets had fallen almost 10%, dropping the only word that matters to headline scanning algos, i.e., "QE4" and suggesting that asset purchases will make a comeback if the market drop continues. And now, with stocks fractions-of-a-percent off record highs, Minneapolis Fed president Narayana Kocherlakota spouts this idiocy:
- KOCHERLAKOTA: THERE IS EVEN A THEORETICAL ARGUMENT TO BE MADE FOR MAKING ASSET PURCHASES NOW IF ECONOMY FALTERED
Stocks, rather stunningly, appear to have finally given up responding to this utter farce... and are falling.
- Kocherlakota Says Debate About Raising Rates Is Drag on Economy (NOTE: not the rate hike itself... but the DEBATE about a rate hike is a "drag")
Stocks are not loving it.
[7]
But oil is...
[8]
Artist's Impression of the new normal...
Narayana Kocherlakota says not to worry about anything pic.twitter.com/B3WexYFg72 [9]
— StockCats (@StockCats) April 7, 2015 [10]
* * *
Somewhere we suspect Rick Santelli just had an aneurism!
UPDATE: hahahahahaha!
[11]
