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?
The Be the Wave Tsunami was VERY REAL in AZ!!
AZ looks like a real sweep for the GOP!!
State Legislature heavily GOP now~
Jan Brewer wins Gov~
McCain wins Senate~
AZ-05 DAVE SCHWEIKERT WINS!!!!WOOT!!!!!11!! by over 10%~ 15,000 votes!
Prop 106 Health Care Freedom ~ not calling it yet but 72% Precincts in ahead 55%/45%
Prop 107 Banning Affirmative Action passes 60%
Prop 113 Protecting Secret Ballot passes 61%
Prop 203 Med Marijuana tied right now 50/50
Kirkpatrick lost her seat, Quayle won his race, McClung is close to Grijalva but Giffords is holding on against Kelly
The rest of the statewide races are a sea of red
As Matt would say, Dovie’andi se tovya sagain. It’s time to toss the dice.
Our previous posts on Wheel of Time, Robert Jordan and Brandon Sanderson here.
Book 13 is out today!!
The Last Battle has started. The seals on the Dark One’s prison are crumbling. The Pattern itself is unraveling, and the armies of the Shadow have begun to boil out of the Blight.
The sun has begun to set upon the Third Age.
Perrin Aybara is now hunted by specters from his past: Whitecloaks, a slayer of wolves, and the responsibilities of leadership. All the while, an unseen foe is slowly pulling a noose tight around his neck. To prevail, he must seek answers in Tel’aran’rhiod and find a way–at long last–to master the wolf within him or lose himself to it forever.
Meanwhile, Matrim Cauthon prepares for the most difficult challenge of his life. The creatures beyond the stone gateways–the Aelfinn and the Eelfinn–have confused him, taunted him, and left him hanged, his memory stuffed with bits and pieces of other men’s lives. He had hoped that his last confrontation with them would be the end of it, but the Wheel weaves as the Wheel wills. The time is coming when he will again have to dance with the Snakes and the Foxes, playing a game that cannot be won. The Tower of Ghenjei awaits, and its secrets will reveal the fate of a friend long lost.
This penultimate novel of Robert Jordan’s #1 New York Times bestselling series–the second of three based on materials he left behind when he died in 2007–brings dramatic and compelling developments to many threads in the Pattern. The end draws near…
Update 2 ~ John Boehner’s moving speech~
Update 11/3 ~ Marco Rubio and Rand Paul’s Acceptance Speeches~
62+ net and Im off to dreamland~ I wanted more~82 min. I think Reid is a thief (but am weirdly glad SCHUMER is not majority leader, heh)and Carly should have been allowed to keep going without calling it, it looks tied to me at 50% still ~ CA is in deep blue shxt!! JERRY BROWN to negotiate with labor and Boxer to bring back jobs? Dear Gawd!
So Obama is now ‘unprecedented’, he has lost the most seats in his first midterm in modern Presidential history! erasing Big Dawg’s previous record of a loss of 52. Loves it!
Best moment of the night outside the local races- Marrrcoooo RUBIO!!!