Posted on 09/19/2013 7:07:11 AM PDT by SeekAndFind
Ben Bernanke just pulled the biggest fake out in the history of the market. Now he and the Fed will have to pay for it.
The Federal Reserve's exit from its bond-buying experiment in monetary policy was never going to be pretty. It just got a lot messier.
If you were watching the market on Wednesday afternoon, you might have gotten the impression that the Fed made another great move. The Dow shot up over 150 points on news that the Fed was not in fact going to pull back on its bond purchases. But if you were watching Ben Bernanke's press conference, you would have seen something very different: a train wreck.
(Excerpt) Read more at finance.fortune.cnn.com ...
Kicked d can outta sight.
Bernyankme is a short sighted idiot.
Bernyankme is our street pusher, our drug pimp.
News to me.
I was unaware that the FED had any credibility to lose.
My continuing question never changes and is never really answered: Does the majority of the “market” truly and honestly believe the inflation and jobs numbers?
On one hand, it’s quite depressing to think that they are so cynical that they just want to ride the wave of funny money and the consequences be damned. On the other hand, it is truly *frightening* to think they are so utterly stupid as to believe 7.3% unemployment and less than 2% inflation.
Either way, I wake up each day wondering when the sh1tstorm is going to hit.
"Well, the endgame is a total collapse, but from a higher diving board. The Fed will continue to print and if the stock market goes down 10%, they will print even more. And they don't know anything else to do. And quite frankly, they have boxed themselves into a corner where they are now kind of desperate."
$85 Billion for another 12 months ==
$ 1 Trillion, 20 Billion.
More smoke & mirrors from the Obama administration.
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