Now FED official Stein comes out today and says QE3 could
start winding down at the FED meeting in Sept.
I almost fell out of my chair!!! No way FED would announce a scale down in Sept. of ALL months. Markets like to crash for no reason in Sept/Oct. If you GIVE it a reason it will REALLY CRASH during those months.
Just amazing how these jackals come out day after day, week after week and jack the Market around so the computer algos can skim $Trillions from all the Market rolls.
Just makes you want to throw in the towel to the whole game.
Since 2000 this economy has been a matter of adding zeros to any number given. There has been no growth except for financial additions of those zeros to all assets while actual growth and production have been destroyed for 30 years. This has become a form of demand economy based on tax write offs and extraction of value that has failure as the only end. .
I don't think they have any choice. They can't let interest rates rise. It seems that no President is willing to have the consequences of that on their watch because the country would do a hard reset of its economy. You saw how perplexed that Bernanke acted that the market was reacting so irrationally as to bid up treasury rates when they haven't even started to taper yet, just talking about it. That was just an act, but that is their biggest fear. I think they are also yo-yoing the market through jawboning so that their too big to fail investment bankster buddies can make a killing in the market. Ron Paul had it right - abolish the Fed. In the meantime, these guys have become like rockstars or something. They should only be able to speak publicly at rare intervals, and only in a unified manner, not like this BS that is going on.