WHO DOES BENNIE WORK FOR?

11 comments

Posted on 24th October 2012 by Administrator in Economy |Politics |Social Issues

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Ever heard of the law of diminishing returns? Bennie announces QE to Infinity and this is all we get? It looks like one of SSS’ tee shots.

11 Comments

  1. Eddie says:

    I’m a follower of several cycle trading gurus. According to what I read, both the dollar and the S&P are set to form bottoms and head back up…The S&P is predicted to bottom more or less on election day…and the dollar around Nov 20 or so. I’m not sure how compatible those two events would be, if and when they do occur…but,we shall see, Perhaps it’s a little early to call QE3 to be DOA.

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    24th October 2012 at 12:42 pm

  2. Administrator says:

    There are no trading gurus – just shysters and scammers

    Some friends who are technicians are all hot & bothered by the above 3 Peaks and a Domed House pattern.

    As I have said in the past, I have no idea what the long term track record of this pattern is is; I saw some good calls of TP&tDH in 2000, and bad calls of such in 2003 and 2005.

    I present the above chart without opinion other than to say it is interesting.

    Barry Ritholtz

    Like or Dislike: Thumb up 1 Thumb down 0

    24th October 2012 at 12:51 pm

  3. Eddie says:

    I don’t have any skin in the equities game, and the shorts killed me in the metals last year. Id be the last to predict anything. All I know is what I read on the intrahwebs.

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    24th October 2012 at 12:59 pm

  4. Muck About says:

    @Admin: sez he,”There are no trading gurus – just shysters and scammers”.

    You forget about me? If I’m not a trading guru, then there might not be any, but I’m here and my wee, sold by WOM only MRO works just fine, thank you..

    Careful with your generalizations..

    MA

    Like or Dislike: Thumb up 4 Thumb down 1

    24th October 2012 at 1:04 pm

  5. AWD says:

    Thanks for that chart.

    Bernake supports rich pricks like Warren Buffett, who’s been running his mouth again. “I think Bernanke has done an absolutely superb job,” Bernake’s done a superb job of making buffy even richer. Everyone else is struggling to survive.

    “I would say this. I would listen very carefully to Bernanke, but my instincts would probably be to go the other direction. But I would listen to his arguments,” Buffett told CNBC, when asked if would have voted for further easing.

    “It’s much easier to acquire $2.7 trillion of securities than it will be to unwind that operation, and you can expand it indefinitely. If he wanted QE3 to be $100 billion a month, he’s the one guy that can do it,” the Berkshire Hathaway chief executive officer said.

    While flooding the financial system with liquidity to jolt the economy may be relatively easy to do, mopping that excess money supply up may be a tougher task once recovery gains steam.

    “He has unlimited buying power. Unlimited selling power could be a little different. You need some cooperation on that,” Buffett said.

    News reports have surfaced that Bernanke may step down after his term ends in January of 2014 regardless of who wins the upcoming presidential elections.

    Republican presidential candidate Mitt Romney has suggested he would oppose Bernanke staying at the Fed.

    “I think Bernanke has done an absolutely superb job,” Buffett said, especially his quick decisions to prop up the economy during the 2008 financial crisis.

    “If Ben Bernanke hadn’t been there in 2008, I’m not sure where we would be now. I have enormous respect for him.”

    “I would never bet against him. I still would say that I get a little worried about continuously expanding the balance sheet of the Fed.”

    monopoly-buffett.jpg

    Like or Dislike: Thumb up 3 Thumb down 0

    24th October 2012 at 1:15 pm

  6. Administrator says:

    Too bad the MRO doesn’t predict wars with Iran.

    Like or Dislike: Thumb up 2 Thumb down 1

    24th October 2012 at 1:43 pm

  7. Kill Bill says:

    Gee Bus, Sun Ob Gawd, Say Bus

    ~~~

    Screw Buffet with a cinder block

    Like or Dislike: Thumb up 2 Thumb down 0

    24th October 2012 at 1:57 pm

  8. AWD says:

    “Too bad the MRO doesn’t predict wars with Iran.”

    We got the Muckster for that.

    I’m eagerly awaiting his next prescient prediction on a war with Iran.

    Like or Dislike: Thumb up 2 Thumb down 0

    24th October 2012 at 2:22 pm

  9. Muck About says:

    @Admin: Hey! Nobody is purrfect… So my April 1 prediction fell through.. If I predict something and keep predicting it, sooner or later it’s bound to happen in the nutty place.

    I’ll predict that gold will climb to over $3,000 an ounce by the end of 2014 or before but maybe a little after and keep saying it. That’ll give the idiots in the Fed plenty of time to get it done for me, sooner or later, maybe..

    MA

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

    24th October 2012 at 2:26 pm

  10. AWD says:

    Bernake is the biggest philanthropist in history, giving away trillions to the rich.

    Ben Bernanke’s Secret Philanthropy
    Submitted by Simon Black of SovereignMan blog,

    Legendary oilman T. Boone Pickens famously calls America’s oil imports ‘the greatest transfer of wealth in the history of the world.’

    Pickens is referring to the money that is paid each year to oil exporting nations, particularly those in the Persian Gulf which raked in around $100 billion last year.

    No doubt, this is an enormous transfer of wealth. But it’s a drop in the bucket compared to the TRILLIONS that Ben Bernanke gives the world’s elite.

    Over the past few years, central banks have created trillions of dollars, most of which they loaned to commercial banks at 0%. The commercial banks then loaned this money to their best customers (and governments) at a slightly higher rate.

    The end result is that a huge chunk of those trillions ended up in the pockets of a small handful of people. The banks and their best customers get sweetheart deals to make even more money, while the vast majority of people get screwed with inflation.

    For example, the banks here in Singapore loan investment capital to their wealthiest customers at astoundingly low rates, between 0.25% and 1%! And with borrowed funds, they buy cash-producing assets which make even more money– stocks, real estate, and high-yield bonds.

    Essentially they borrow at less than 1%, but generate a yield of 8% to 10% on the investment. The bank is practically giving them free money. I call this ‘philanthropy of the wealthy.’ And it starts with Mr. Bernanke.

    Naturally, the average guy on the street doesn’t get these deals. Instead, he gets hit with inflation and watches his savings erode. Just this morning, in fact, they announced that Singapore’s inflation hit 4.7% in September, up from 3.9%.

    This issue isn’t about rich vs. poor. Creditworthy investors are very sharp to take advantage of the opportunity. And it’s not about Singapore either, this is worldwide.

    The issue lies within the system itself– that our ‘free society’ has awarded a tiny elite the supreme power to control the price of money. And in doing so, central bankers steal purchasing power from the many and benefiting the few.

    The scale of this theft is in the trillions of dollars. It constitutes, by far, the greatest transfer of wealth in history, vastly exceeding America’s energy imports.

    It’s an unconscionable, immoral, ridiculous game. But there’s good news– we can stop playing whenever we want. We don’t HAVE to hold their worthless currency. We don’t HAVE to keep transferring our purchasing power to an elite group. We can “opt-out”.

    You see, the power they have is printing currency. So one easy way to opt out is to stop holding their paper, stop holding savings in dollars, euros, etc. Trade as much of their paper as you can for something REAL, especially physical precious metals

    bernanke-time-man-of-the-year1.png

    Like or Dislike: Thumb up 2 Thumb down 0

    24th October 2012 at 2:58 pm

  11. specie says:

    youze guys need to read lee adlers stuff at the wallstreetexaminer

    QE3 hasn’t even started

    first money to hit the dealers is Nov 14th

    http://www.capitalstool.com/forums/index.php?showtopic=11786&st=60

    market might crater till the new juice hits

    Like or Dislike: Thumb up 1 Thumb down 0

    24th October 2012 at 3:32 pm

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