iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,520 Blog Posts

Fed Day: Does it Really Matter Anymore?

Most people I know don’t care anymore about the Fed, or anything else for that matter. Nihilism is strong in America — after a decade of unbelievable fuckery. The timeline was altered and changed forever when the banks were bailed out in 2008. I’ve always argued for it — because who in their right mind would want to die right away, if you could delay the inevitable or even suspend it indefinitely?

Not only have we delayed the inevitable, but we’re thriving now and some people just can’t to grips with it — because it’s new and different and they do not believe printing money is a solution to moral hazard.

Speaking of hazards, I ventured off into my DVR last night and perused a film I had recorded months ago — The Toast of NY. I’m a big fan of the silver screen and like just about all Cary Grant films. This one was a pleasant surprised because it was about Jim Fisk, a famed robber baron who made his fortune dicking around with stocks. The movie told the tale of when Fisk, Drew, and Gould schemed to steal $6m from Commodore Vanderbilt. If you’re looking for an old school Wall Street flick — go watch The Toast of NY. It’s a true story.

Futures are strong and today Powell bends the knee to Trump, or gets fired.

When Federal Reserve officials meet this week, they are expected to clear the way for a July interest rate cut by downgrading their economic forecast, tweaking the language in their statement and reducing their interest rate forecasts.

The Fed is expected to remove the word “patient” from its statement, signaling that it is ready to move on interest rate cuts to help the U.S. economy make it through a period of slower growth and the potential impacts of trade wars.

Fed funds futures are pointing to odds of about 80% for a July cut and about 20% for a June cut.

No whining and no complaining about things we can’t control. Man up and trade.

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15 comments

  1. irma vep

    Thanks for the movie suggestion. Will definitely watch.

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    • irma vep

      Fed day apparently matters to investors playing the game; I borrowed this from
      [email protected]_ROB. 22h22 hours ago

      https://www.dropbox.com/s/nlib6rib4osqvi7/Screenshot%202019-06-19%2009.49.15.png?dl=0. borrow

      “Not only have we delayed the inevitable, but we’re thriving now and some people just can’t to grips with it — because it’s new and different and they do not believe printing money is a solution to moral hazard.” —- It’s greed but ppl could still end up with stocks that will bounce back. RISK! How much can you risk within one’s own personal timeframe.

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  2. gsofield

    What would be nice is if Jerome just does his job and tunes out the noise coming from his boss. How would the markets react if he thumbs his nose to his boss? I’ve worked for some mentally unstable people and had a real fear of being fired. When you are not at the top of the food chain you are on the menu and subject to be eaten. I had always wished I had fuck you money and told the powers that be to go shit in their hat. Ole’ Jerome has fuck you money and I’d love for him to grow some balls and tell his boss to fuck off. Now that would make headlines.

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    • irma vep

      Economists by nurture and nature do not tell their boss to “Fuck Off” in public. They tell their advisor in University and then go out and found deliciously rich Investment Firms, like Gundlach. They are more dignified. Besides, would you want to waste your time acknowledging this potus. He’s looking for dirt on Powell. Powell is probably looking forward to his next job.

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      • irma vep

        Or, holding out for a new POTUS. A rational POTUS who respects our Constitution as oppossed to a potus who believes we should reinvent the wheel to suit him. What on Earth did the people who voted for him think they would get?

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        • irma vep

          This is my own personal vent. Very personal. Can’t potus be brough up on charges of a “Crime Against Humanity” , even though he is potus, when he separated families at the border. I do think that most of us know more now and how heinous and dangerous this is.

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          • ferd

            The BushBama administration killed, displaced, and maimed millions of people on the other side of the planet. People who did nothing to us. I empathize with families in distress at the border, but compared to our ongoing mid-east slaughter, they are mere misdemeanors against humanity.

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    • irma vep

      I agree.

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    • cancel19

      All Fed Chairmen have puppet strings attached.

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  3. ferd

    Doubt that it’s up to Powell. The people who run the place will do everything they can to keep things duck-taped together until a can’t-take-your-eyes-off-of-it scapegoat is in place. Powell may leave a word out or put in a word in that the market will spaz about for a moment, but they are determined to engineer more theft through inflation. And if you are a Fed member of the no-reset-on-my-watch persuasion, you’ve told yourself that you have no choice.

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    • irma vep

      I accidently hit the “thumbs up”. I disagree that it is a mere misdemeanor. It’s a lack of morality, It’s sociopathic. It’s narcissistic and despotic but I think we all know this about potus and his ilk. More than the “The thin edge of the wedge” has already been applied.The fact that these were refugees, not terrorists, on our own border makes it all the more compelling for action and charges to be brought against the potus and his despotic, warlord-like act and lack of disregard of our national values.

      Were you ripped from a parent or family as a child?

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      • ferd

        Perhaps you aren’t aware, but politics are not permitted on Lord Fly’s site. Anyway, I was not arguing that things are handled perfectly at the border, I was simply SHARING my personal FEELINGS about how absurd it is that MSM-programmed sheep, who congratulate themselves for their superior virtue, don’t seem to give a sweet fuck about millions of dead, maimed, birth-defected, and displaced humans, but get all exercised about a only the precise issues that MSM highlights..

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        • irma vep

          M. Fly, He must be busy elsewhere. I’ll tie it back to economics and quote M. Fly “Not only have we delayed the inevitable, but we’re thriving now and some people just can’t to grips with it — because it’s new and different and they do not believe printing money is a solution to moral hazard.”

          potus doesn’t want, his cacausian, lower to upper middle class base to believe that we are doing well, the bogie man is out to get us. so he’ll pick on poor refugee families and order an act of inhumanity, to get what he wants. So he can tell us that he “saved the day”

          It’s connected.

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      • juice

        I bet you’re one of those who only started caring about what goes on at the border between nations and the camps set up to deal with the whole thing after January 2017 — when Obama was no longer in charge of them.

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