As a country, we have no sense of self-worth. The same can be said about every single market in the world, especially the Chinese. For a country that is supposed to be on the verge of super-power status, supplanting us as supreme economic power, the fucking Chinese markets suck dick. Perhaps the amateurs and interns at SeekingAlpha can educate us on this situation through scathing articles, to be featured on Yahoo finance.
Truth be told, I literally wish both Yahoo finance and SeekingAlpha nothing but the very worst. Both of those stupid websites represent everything that is wrong with the internet: the old, weak and irrelevant. There is a reason why Yahoo’s stock is in the shitter and their former subsidiary, Alibaba, shits on them in a very public manner. Yahoo is a fat, disgusting organization, built from sloth.
The Federal Reserve’s “twist” is not enough to buoy stocks prices. It is a sterile program that adds zero dollars to the money supply. I cannot figure out why Bernanke would do such a thing, unless he knows something we don’t. For example: maybe Ben knows Europe is going to crumble, like blue cheese, and is saving his ‘big guns’ for a later date? If the EU breaks up, this market is going to need all the QE it can get its filthy hands on: qe3,4,5,6,7,8,9 and 10.
With futures flat and Europe weak, I am not enthused to buy equities today. Should EXK drop 10% from current prices, I will double down. Other than that, I am waiting for momentum to take hold of this tape and give me direction.
http://www.youtube.com/watch?v=AAakrVq__eU
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There is facebook clutter sullying IBC
what are you talking about?
A service disruption on FB can affect websites that link to it.
http://www.pcworld.com/article/256694/as_facebook_service_goes_so_goes_the_internet.html
beside the qe345689019 part awesome song u c now i’ll remember u post it on june =]
“I cannot figure out why Bernanke would do such a thing,”
I reckon two reasons. Politics and the fact that the Fed gets so much crap from the right over this.
The right is on his back all the time over this that he possibly wants to wait until it gets hairy. He knows what he’s not doing is wrong.
I think that nails it. Have you been secretly reading Paul K.? He said the same thing recently. 😉
I recall that it was Yahoo that paid Mark Cuban $5 billion for his company Broadcast.com. Five years later, Yahoo took a $5 billion dollar writeoff of the entire company. Cuban collared all of his stock and laughed all the way to the bank.
Cuban’s partner in that venture is building a grotesque home up the street from me. Scarring the TN landscape. All the money came from broadcast.com, dude got lucky and he flaunts it here. Lambo ripping down the street. Douche.
When the Fed buys bonds it overcharges, when selling it undercharges, telling the PD’s to “keep the change”. I dont know how large or how little this mini QE is as I can find no one in the know who has quantified it.
*overpays
My take, because you’ve all been waiting for it: Ben wouldn’t launch QE3 before the Euro crisis is settled one way or the other. Even QE3 could not hold back the wave of selling that the worst case scenario there would cause, and it would then be wasted. Maybe Ben knows it’s coming, or fears the worst.
I agree.
Then let’s get on with it and get it over with already.
No mo momo, just dirty south trill
I love the comment about the Chinese markets. One of our greatest achievements is our deep and liquid financial markets. No one in the world even comes close.
“I cannot figure out why Bernanke would do such a thing.”
My guess is that he did the math on US interest payments and had a Rut Roh moment. I also believe that – deep down inside – Big Ben has thrown in the towel on preventing deflation. At this point, he’s just doing his part to keep the US government financially viable. He’s just keeping ‘er afloat for as long as possible, in hopes that some undefined future events conspire to bail us out.
What does QE have to do with interest payments?
Answer: not a damn thing
Exactly. Quantitative Easing was originally introduced as Now We’re Going To Increase The Money Supply. “Operation Twist”, as you noted, does not achieve that goal – but the Fed hasn’t put a lot of effort into correcting the general public’s incorrect belief that it does. It’s just moving money around on the yield curve (and reducing interest liabilities of, and payments by, the US govt).
I am trying to remember the days of QE when the market traded up on a daily basis. Talk about easy trading! Now we are living with the endless hangover
I’m with Fly ont this. Powder is being kept dry, and likely next response will have to go nuclear and all CBs involved – that is is EUro breaks up
How come you use yahoo finance for the ppt stats?
Ugh. Finance as done by a bunch of Yahoos. At least you could filter out the robogenerated articles from a news source best described as a poorly-dressed court jester.
Now it appears they’re taking MONEY from a NEW provider who WRITES its HEADLINES like THIS, but because the person who maintained the “filter news sources” page died ten years ago in his cubicle (his dessicated corpse is probably still there, the janitorial staff having been outsourced fifteen years ago), there’s no convenient way to filter those out.
“As a country, we have no sense of self-worth.”
I guess it starts at the top…
“Got a birthday, anniversary, or wedding coming up?
Let your friends know how important this election is to you—register with Obama 2012, and ask for a donation in lieu of a gift.”
http://www.barackobama.com/news/entry/the-obama-event-registry
And I’ll be on Yahoo Finance Breakout sometime next week…
I think Bernanke is waiting on the EU to see how the ESM fares in early July. If Merkel finally capitulates then we can look forward to a glorious experience of global QE, coordinated by China, US and EU central banks. If Merkel continues resisting then Bernanke is able to go it alone as best as possible.
Like Jim Sinclair says: QE to infinity.
My read on both Bernanke and Draghi is that they see a wider crisis coming that can only be prevented by the political leadership and so they save what power and credibility they have for the point when they have to stabilize the financial system.
Agreed. Ben was dealt a bad hand by Bush, Obama and the congress.
We don’t need no stinking QE. It’s like heroin for a junkie. You gotta get off sometime or you will die.
Free markets!
Bank of England is the next to decide whether to spend money.
Where is Jake Gint? I miss his musings.
QE effect will be less now – like a drug addict is less affected by the same amount of drugs. It’s the election, stupid. If the Obamanator is re-elected, have the Big Short ready to go.
Stocks have DOUBLED under Obama. They FELL 40% under Bush.
Historically, stocks do twice as well under Dem presidents as the do under GOP presidents.
Where do you get your misinformation, which leads to your misanalysis?
SELL EVERYTHING on Inauguration Day of a Republican, and BUY everything on inauguration day of a Dem. And you will become a rich man.
Stocks do better under Dems because the previous Repub administration got things squared back around after the Dems made a mess of it all.
I don’t give a shit if stocks do better under Dems if Dems set up a whore house in the National Cathedral, and the whores buy S&P Index Funds, driving up stock prices.
The FACT is stocks do better under a Dem President.
I graphed this false rumor.
Untrue.
Until you can attack my daily charts (going back to major index tabulation), with fully texted and tech.’d time periods, this statement is false.
This includes unit and percentage basis.
“Gulp”…I mean “YELP”…
12-12-12
Obama is a communist and a fool like all communists. Are you one of those, uh, demorats, by chance?
Yeah. A COMMUNIST who has doubled stock prices, and has corporate cash and corporate profits at record highs.
We need MORE such Communists.
You give every indication that you are a home-schooled Fox Watcher.
mmmmm…..I wouldn’t quite call him a commie. Maybe a community organizer with socialistic leanings.
And. As anyone who has made a study of the foundational documents and history of this country knows, socialism is incompatible with the American way of life, personal liberty, personal responsibility. Hence. He has to go.
Rigged……Anyone who would sacrifice personal financial gain for their liberty and freedom does not deserve to live in the USA..
JMHO
You mean Obama set up the Department of Homeland Security, and the farce known as TSA (Transportation Security Agency), that harasses Grandma and fails to screen cargo?
I’d say fuck ’em both. Get rid of them. Who gives a rat’s ass if we lose a building every decade, or a plane every year?