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STOCKS SEE RED …Hoenig stated: "In particular, what are the
hazards of holding the Federal Funds rate target close to zero? The
risks of raising too soon are clear and compelling. My comments,
however, concern the risks of raising rates too late. Such risks also
can be significant but all too often seem more distant and less
compelling, and therefore hold great long-term danger for us all...I
have dissented at the last two FOMC meetings specifically because I
believe the 'extended period' language is no longer warranted and I
am concerned about the buildup of financial imbalances creating
long-run risks....And, the market appears to interpret the extended
period as at least six months. Such actions, moreover, have the effect
of encouraging investors to place bets that rely on the continuance of
exceptionally easy monetary policy. I have no doubt that many on
Wall Street are looking at this as a rare opportunity." At least he's
articulating what many are thinking--an asset bubble is brewing and
it's being fed by current easy money policies. Lacking other news and
with volume light before his remarks, investors took his words to
heart Wednesday and started selling…
April is upon us. I need to take a moment to re-analyze the data to see what
might happen now that the stimulus money has worn off, and, more
importantly, now that the Federal Reserve's massive Mortgage Backed
Security [MBS] purchase program is over. This is important for a variety of
reasons.
• The first is that the enormous flood of liquidity that the Federal
Reserve injected into the financial system has found its way into the
Treasury market, supporting government borrowing and also
lowering interest rates for the housing market. How will the Treasury
market respond once the liquidity spigot is turned off?
• The second is that this flood of liquidity has supported all sorts of
other asset markets along the way, including the stock and
commodity markets.
• What will happen to these when the flood stops? Will the base
economy have recovered enough that the financial markets can
operate on their own? Will stocks falter after an amazing run? Or will
the whole thing shudder to a halt for a double-dip recession?
Back in August of 2009, I wrote that the Federal Reserve was basically just
directly monetizing U.S. government debt by buying recent Treasury
issuances as well as Mortgage Backed Securities [MBS]. Here's the
conclusion from that report:
My surprise at all of this has been twofold. The shell game has continued
this long without the bond market calling the bluff, and I am baffled by the
extent to which the other world central banks have both enabled and
participated in this game. Part of the explanation behind this unwavering
support for the dollar and U.S. deficit spending by other central banks lies
in the fact that other Western and Eastern governments are equally
insolvent…
Fed Governor Dares Say 'Bubble': Dave's Daily The Fed's Shell Game
Continues... Senior SEC Employee Warns of Potential Municipal
Bond Market Collapse Volcker: Taxes to rise to tame deficit Fed:
Recovery to lose steam FED ELDER SEES RATES RAISING...
Bernanke Says Joblessness, Foreclosures Pose Challenges to
Recovery... 'We are far from being out of the woods'…duuuuuh! ...
Fed Says “Recovery” May Lose Steam CNNMoney | Federal Reserve
policymakers are worried that the economic recovery may lose steam
going forward, despite recent moderate improvements. Bernanke
Says Americans Must Pay Off “Public” Debt_… Riiiiight! … Sounds
like a plan … until … with what, they ask! Wall Street Journal | Health
spending is set to increase over the long term as the U.S. population
grows older, posing challenges to the country’s already strained
finances, the Fed chief warned.
Poll: George W. Bush still blamed for economy Former Fed Mob Boss
Calls for VAT and Carbon Taxes Kurt Nimmo | If Obama and his
“economic advisers” have their way, you will be paying significantly
higher taxes directly to international bankers.
(4-7-10) Dow 10,897 -72 Nasdaq 2431 -6 S&P 500 1,182 -7 [CLOSE- OIL
$85.88 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS
$2.75 (reg. gas in LAND OF FRUITS AND NUTS $3.09 REG./ $3.26 MID-
GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,137 [video] Gold
Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER
$18.20 (+47% for year 2009) PLATINUM $1,713 (+56% for year 2009) /
DOLLAR= .74 EURO, 93 YEN, .65 POUND STERLING, ETC. (How low
can you go - LOWER)/ 10 YR NOTE YIELD 3.86% …..… AP Business
Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly
Recap – Stocks / Bonds / Currencies - Domestic / International
MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD
PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6
Theories On Why the Stock Market Has Rallied 3-9-10 [archived
website file] Risks Lurk for ETF Investors The bull market that
never was/were beyond wall street b.s. when measured in gold
Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The
Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010
01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE
COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer
(01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-
22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not
Going To Recover Current Economic / Fiscal Charts
Trendsresearch.com forecast for 2009 1-7-10 Crash is coming!
‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic /
Financial Data This Depression is just beginning The
coming depression… thecomingdepression.net MUST READ:
JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850
on the S&P) by TPC The Next Wave of Collapse is Coming Sooner
than you think Sliding Back Into the Great Recession
ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS
WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
israel using Facebook as ’spying tool’ in Gaza Hamas has accused Israel
of using Facebook to recruit spies from among the Palestinian
community in the Gaza strip.
Jihad Jamie: Corporate Media Hypes Another Blond Terrorist Kurt Nimmo |
The government will need to come up with terrorists who are not so
obviously mentally or emotionally disturbed in order to sell us on an
interminable war on terrorism. “JihadJane” was laughable, Web
watchers say Philadelphia Inquirer | For years, “JihadJane” had been
a joke to those who kept tabs on her online.
Drudge vs. the Senate? U.S. SENATE WARNS ALL STAFF TO AVOID
DRUDGE... Senate Tells Employees Not to Read Drudge Report
Drudge Report | Just as the healthcare drama in the capitol reaches a
grand finale, congressional officials are warning employees to avoid
the Drudge Report.
Senate declares Drudge Persona Non Grata, Internet Jihadist!
DRUDGEREPORT:
CBS: President Approval Rating Hits New Low...
GALLUP: 50% say Obama doesn't deserve re-election...
Underemployment Rises to 20.3% in March...
Automaker Pensions Underfunded by $17 Billion...
FED ELDER SEES RATES RAISING...
Bernanke Says Joblessness, Foreclosures Pose Challenges to Recovery...
'We are far from being out of the woods'...
OBAMA'S ODD 17-MINUTE, 2,500-WORD RESPONSE TO WOMAN'S SIMPLE
CLAIM OF BEING 'OVER-TAXED'... CONFUSION: 'WHERE DO WE GET
THE FREE CARE?' 18 states now challenge... Viagra for rapists! Sex
offenders!
FOUND: MISSING LINK BETWEEN APES AND MAN....
HILLARY MESS: Karzai Slams the West -- Again...
Afghan leader threatens to join Taliban...
Accuses USA of 'massive fraud'...
OIL NEARS $87...
Santelli: $4 Gas, $150 Oil Coming This Summer...
Dr. Murray's Defense: Michael Jackson Killed Himself...
VERIZON Expects to Incur $970 Million Expense From Health-Care
Legislation...
California's last auto plant shuts its doors...
OIL NEARS $85... Unemployment rate remains 9.7%...
Congressman: 'I Don't Worry About the Constitution'...
FLASH: Arctic sea ice grows back to 'normal' for first time since 2001...
Dozens Arrested At NEW JERSEY High-Rise Where 7-Year-Old Was 'Gang
Raped'… mob infested jersey is obscene … They said they would kill her if
she screamed....
Police: NEW JERSEY teen sold stepsister, 7, for sex party for seven men,
boys...
Obama takes a piece of the rock; PRUDENTIAL to take $100M healthcare
charge...
COPS TOTE MACHINE GUNS ON NYC SUBWAYS...
USATODAYGALLUP: DISAPPROVAL RISES TO 50%...
HILL: DRUDGE and the Republican delusion...
Rove Shouted Down, Called 'War Criminal' At Book Signing...
Troop deaths double in Afghanistan...
Approval/disapproval gap starting to widen again on health spending bill...
GALLUP: OBAMA APPROVE MATCHES LOW; COUNTRY SPLIT 46-46...
FBI terror raid of Christian militia group in Michigan...
Agents conduct raids in Ohio, Indiana...
'It was like a small army had descended on the area'...
Feds confirm 'activities'...
Gun charges...