The Next Shoe Drops ~ The Fed launches QE2, departure at 2:15pm ET

Update : FOMC announces $600B targeted toward the ‘long end’ 5-6 yrs, if they do it all yr + the reinvestment of previous purchases per NYFRB they should hit 1 Trillion.

ElErian says it will backfire and lead to QE3, PIMCO seems pixxed.

Update 11:15am ET: Gold is getting absolutely hammered. Down $25 to $1331.70. Appears the street thinks the Fed will pull its punch and disappoint. You know what I say? Good time to buy!

Were I the Fed I would move big now before Rand Paul takes my money printing machine away. Of course I think we should end the Fed at this point, they are propping up TBTF balance sheets and killing the middle class.

_____________________________

QE2 is expected to depart the Federal Reserve steaming toward the TBTF balance sheets at a clip of $500B and further purchase announcements ‘as needed’ at 2:15 pm ET!

All Aboard for falling US Dollar and rising commodities!

I for one cannot WAIT for Ben Bernanke to face the righteous wrath of Senator Rand Paul on this monetizing and taking on worthless paper to bail out TBTF.Senator Paul will no doubt ask where Bernanke thinks he gets this authority and how it helps fulfill his dual mandate of price stability and full employment, which it does not.

Since the Dems were letting the middle class go down I say we all go down or not on our merits. Let the chips fall where they may, Damn the torpedoes! Full speed ahead! Let the TBTF frakkers fail~

As the guys on the street say, we need Potted Palms on the Trading Floor now that we are monetizing the debt a la Argentina pre collapse~

And the TERRIBLE AWFUL economic data continues to roll in. What will Team Obama do now?

November 2, 2010. Tags: , , , , , , , , , , , , . Economy, FDIC, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. Leave a comment.

Market Update: Averages make a run on upbeat Fed forecast….

DOW up over 200 on FOMC forecast. D-E-N-I-A-L.

Intel reported kickass earnings (Intel gets 85% of their profit from overseas)..the banks earnings (outside Golden Slacks, which do not reflect the TOXIC ASSETS we heard oh so much about) are not worth the paper  they are written on…

The FED (FOMC) meeting minutes were released along with their new economic outlook which has a higher call for GDP and a call for higher unemployment than previously forecast. MiM thinks they are off on both, even the inventory build everyone is expecting to push us to a positive GDP for the 3Q 09, is for MiM anyway in doubt..

Were I the manufacturer, producer, retail chain store inventory manager I would NOT build an inventory right now..ahead of the CONSTANT, ENDLESS ASSAULT on capital from, well the Capitol…

They are now proposing a WATER SURCHARGE on businesses that use a lot of water, to rebuild infrastructure…

Take your profits and bury them in the yard, sheeeet, maybe we will get a chance to spend those dilly dollars before the inevitable inflation bites us in the axx….assuming the Man doesn’t come take it first for the GREATER GOOD…frakkers..

I cannot think of a worse time to propose an individual mandate than when people are cutting back on FOOD out of necessity, NOW is not the time to tell them they MUST pay for insurance….

DOW up over 200 right now, on a serious tear people….Have I mentioned that TOTUS felt the need to make an appearance on tv to support the House Health Care bill (the one that is counter to everything he said in the primaries) just as Hill’s first big speech was starting, he sucked the air out of the room for her like he sucks the animal spirits out of the marketplace...have to go to MSNBC, ugh to get highlights of her speech which even they the He Man Woman Haters Club says was great, too bad none of us got to see it cause the publicity HOG was on …AGAIN…people are writing FREE HILLARY! pieces already….

We got ONE SENTENCE on Hillary’s speech from Reuters:

“Success in Afghanistan also requires close cooperation from neighboring Pakistan, which I will visit this fall,” she said in a speech at the Council of Foreign Relations think tank.

U.S. Secretary of State Hillary Clinton, who visits India later this week, said on Wednesday she will go to Pakistan in the fall.

GOLD back up over 940 BTW…

and PS TOTUS now considering BUYING peoples homes and letting them RENT them back, so Uncle Sam would own the house. But he wouldn’t do HOLC when it would have helped and attacked Hill for suggesting it (she proposed HOLC this in September 2008). some day’s the hypocrisy bothers me more than others…..

July 15, 2009. Tags: , , , , , , , , , , , , , , . Politics. 1 comment.

Follow

Get every new post delivered to your Inbox.

Join 479 other followers