Bernake: All in. Me: Oh sh#t.

[Tape Reader]

Bernake: All in. Me: Oh sh#t.

From memory: Bernanke will keep rates low even after recovery. He wants the stock market higher.

Today: Market was down after a proclamation by the Fed Chief that (supposedly) "Nobody fights the Fed."

Me: Oh sh#t. Is the "Fat Lady" singing?

Your views:

[Saratoga_Mike]

Is this some sort of cryptic message? If so, could you please translate it into English?

[ArlJim78]

If I understand him correctly, and I think that I do, he thinks we might be in trouble since the market went down today so soon after Bernankes announcement of QE - to infinity and beyond.

[Saratoga_Mike]

If I understand him correctly, and I think that I do, he thinks we might be in trouble since the market went down today so soon after Bernankes announcement of QE - to infinity and beyond.

Oh, well he's the TapeReader - maybe he can tell us the answer.

[Mike at A+]

One big boost followed by slow decline. QE defined.

[Saratoga_Mike]

One big boost followed by slow decline. QE defined.

What's your stock market prediction?

[PaceAdvantage]

If I understand him correctly, and I think that I do, he thinks we might be in trouble since the market went down today so soon after Bernankes announcement of QE - to infinity and beyond.Pay no attention to what the market did today...it was nothing...didn't matter one way or the other.

In fact, the DOW could drop close to 500 points and it wouldn't mean anything...

Drop over 500 points, then I would start paying attention, but even then...

Plus the volume was low today due to the holidays...

It's most likely the month of October (as it usually is) when the real action is going to take place...

[ArlJim78]

Pay no attention to what the market did today...it was nothing...didn't matter one way or the other.

In fact, the DOW could drop close to 500 points and it wouldn't mean anything...

Drop over 500 points, then I would start paying attention, but even then...

Plus the volume was low today due to the holidays...

It's most likely the month of October (as it usually is) when the real action is going to take place...
I was only trying to interpret tapereaders comment, not to say that there was any significance to todays small decline.

I do wonder though if the Fed has over played its hand, if they are out of bullets so to speak.

[pandy]

Everyone knew that QE3 was coming for months, the market may have already made the adjustment. The whole thing is so stupid because QE3 is a hail mary that could have severe repercussions for our economy in the long run. It's bizzare when you think about it, 4 years ago the banking industry would have collapsed if we didn't bail them out, now we are buying their debt. It's like we're buying back our own money, and we're doing it with money that we don't have. Insanity.

[Ocala Mike]

I do wonder though if the Fed has over played its hand, if they are out of bullets so to speak.



Did the printing presses at the Treasury break down?

[OntheRail]

Did the printing presses at the Treasury break down?
Waiting for more ink from china.. :rolleyes:

[Valuist]

Did the printing presses at the Treasury break down?

We can hope they will.

[sammy the sage]

who-ever's 1st...actually wins....Japanese followed suit today...

by the way...hope this wasn't Lambo...perhaps one day in the future tho...

http://screen.yahoo.com/7-million-worth-of-gold-found-in-deceased-man-s-home-30632855.html

[Steve 'StatMan']

Let's see. QE1 didn't work, didn't reduce unemployment. QE2 didn't work, didn't recude unemployment. Now they're commited to keep on doing QE3 until they fell it reduced unemployment. Something seems very wrong. All the while, the value of our money falls with every QE. They may not take all our money in taxes, but they sure are good at making it buy less. That may hurt some of the wealthy who don't invest well, but that hurts the lover and middle classes, struggling to get by. And the poor who chould work but get unemployment and/or welfare will always struggle, and likely not want to work a job that pays them say 450 a week if they are getting say 350 a week for doing nothing. That extra 100 isn't worth all that effort vs doing nothing.

[Valuist]

Let's see. QE1 didn't work, didn't reduce unemployment. QE2 didn't work, didn't recude unemployment. Now they're commited to keep on doing QE3 until they fell it reduced unemployment. Something seems very wrong. All the while, the value of our money falls with every QE. They may not take all our money in taxes, but they sure are good at making it buy less. That may hurt some of the wealthy who don't invest well, but that hurts the lover and middle classes, struggling to get by. And the poor who chould work but get unemployment and/or welfare will always struggle, and likely not want to work a job that pays them say 450 a week if they are getting say 350 a week for doing nothing. That extra 100 isn't worth all that effort vs doing nothing.

That's exactly right. But there's a lot of people who can't, or won't, read between the lines. They see their 401(k) and/or IRA is up, so they think things must be going well. They are unaware that it was monetary shenanigans that likely orchestrated that gain.

[so.cal.fan]

Bernacke is all in. He had no choice to follow Mario in Europe.
He knows it's not going to work, but is trying to slow down the inevitable.
The world will eventually have to deflate and default, hopefully orderly.

[dartman51]

Let's see. QE1 didn't work, didn't reduce unemployment. QE2 didn't work, didn't recude unemployment. Now they're commited to keep on doing QE3 until they fell it reduced unemployment. Something seems very wrong. All the while, the value of our money falls with every QE. They may not take all our money in taxes, but they sure are good at making it buy less. That may hurt some of the wealthy who don't invest well, but that hurts the lover and middle classes, struggling to get by. And the poor who chould work but get unemployment and/or welfare will always struggle, and likely not want to work a job that pays them say 450 a week if they are getting say 350 a week for doing nothing. That extra 100 isn't worth all that effort vs doing nothing.

The definition of INSANITY. When you keep doing the same thing over and over, and expect a different outcome. Reminds me of the last time I went to Kentucky Downs. I was walking back to my seat, and noticed a man standing by himself staring at a monitor, snapping his fingers and yelling, COM'ON 6, COM'ON 6, HANG ON 6. I stopped to watch the race, and realized he was watching a replay of a race that had just run, where his 6 horse was leading halfway through the stretch, before fading to 4th. This guy was watching the replay, urging his horse on, I assume, hoping for a different outcome. Sounds like our Government. :ThmbUp:

[ArlJim78]

Did the printing presses at the Treasury break down?
what I meant was in terms of them having any kind of positive impact on the economy, that they are out of bullets. Interest rates have been near zero for so long now, and will continue to stay near zero. they've been printing dollars now too and not in a small quantity either. what has that achieved which is postive?

Of course they can keep printing more dollars, but how does that benefit anyone and are they sure there is no downside.
The people at the Fed always seem so confident and talk about all of the "tools" they have to manage the economy. I don't buy into a lot of what they're selling at the Fed.

[sammy the sage]

Look...a ONE time history lesson...which 99% of you will blow-off :rolleyes:

The Fed...ie...the Central bank...was abolished...why....well look it up...you'll appreciate IT MORE by having to WORK for it...

Then you'll comprehend EXACTLY what THE bankster's are up too :faint: :bang:

[badcompany]

This quote by the great Ludwig Von Mises explains exactly what the Fed is trying to do and why it is failing:


"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

[PaceAdvantage]

But there IS a way out of this. And it's very simple.

You CUT SPENDING and start to PAY DOWN your debt.

It's basic economics.

The problem is, all these congressmen are BOUGHT AND PAID FOR, and everyone of them will vote "NOT IN MY BACKYARD."

The first step is finding a leader with a set of brass balls. That certainly ISN'T Obama. Is it Romney? He's the only other choice, so if you want even a CHANCE at a "way out," then you must vote for him.

[Tom]

We can't do that.
Might hurt some loser's feelings.

Money was made to be printed and spent.
This is your president's legacy.