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Agreed......the new jobs/jobless numbers, housing, etc. are cooked & booked numbers....anyone who thinks the economy is in good shape and people are doing just fine are delusional at best and overly medicated on mood enhancers at worst.
Where are you calling a bottom??....I'm thinking DOW at 10500 - 11000 and S&P maybe 1300.
You should listened to some Democrats grilling Janet Yelling today. Everything is rosy, they don't know why people said the economy is bad.
You should listened to some Democrats grilling Janet Yelling today. Everything is rosy, they don't know why people said the economy is bad.
It takes a certain kind of liar to claim that everything is fine and we may need to go to negative interest rates. What was really precious was Yellen being grilled on market moving leaks in the Fed and she refusing to hand over documents. Someone from the Fed in trouble? You betcha.
It takes a certain kind of liar to claim that everything is fine and we may need to go to negative interest rates. What was really precious was Yellen being grilled on market moving leaks in the Fed and she refusing to hand over documents. Someone from the Fed in trouble? You betcha.
I saw part of that hearing where he was raking Yellen over the coals about failing to provide the information and she looked like "why is this guy not sticking to the script?"
It was great to watch and there should be much more scrutiny & tough questioning of her and the FED but I suspect it'll once again work in their favor via some backdoor shenanigins.
The Fed boxed themselves into a corner with too much rhetoric about raising rates. The market gave them a window a couple years back, and they blew it by not raising. Now they "had" to hike, or look really quite foolish. (not that they don't look like they are lost in any event).
Now they are raising into a slowing economy, when they should be doing exactly the opposite. The economic news is horrible, both here and abroad (Japan just went to NEGATIVE interest rates). Don't look at the jobs numbers, the Feb has already said they are unreliable (check the record). Real unemployment is in the teens, growth is anemic or less, and consumers are dead in the water (look at Xmas sales...or the lack of them).
The stock market has figured it out. And yes, we are in a bear market. No new high after the September bottom, and subsequently lower highs, and lower lows. Follow the money...and it is leaving stocks.
Except following the money flows show investors are wrong.
That is why investors always fail to even get the returns the funds they were in got.
Just look at morningstars investor returns tracking money flow , investors as a group end up wrong over and over.
The story always repeats itself over and over as things not even on the radar yet alter what they thought was a given
Yup,
already heard several people nowhere near retirement say they are sick of the market and pulling it all out. Tough to match market returns when you pull out after every correction and get back in when the bull market is in full effect.
The tricky thing with NIRP is that it removes the natural floor on bond yields. There is no floor all the way down to negative infinity. Investors will just keep piling into long-duration Treasuries in the hope that they make capital gains that exceed the interest paid. It could create quite a vicious cycle.
Yellen suggested yesterday that negative interest rates may not even be legal. I'm glad that she understands that negative rates should need Congressional approval since it is in fact a tax without representation and that revenue from stealing money from people's bank accounts is in fact stealing, especially when it goes straight into the Fed's dirty hands.
Legality has never stopped Central Bankers who fully believe they are above the law.
In any case, ZIRP had been a 100% tax on savings interest for 7 years. Like all bureaucrats, the Fed's answer to all problems is an even higher tax on the middle class. After all, the money for the Billionaire Class had to come from somewhere.
What about the 1/3 of all years over the last 45 years cd's had negative real returns even without zirp? Guess that don't count
Do you understand the differences between market forces and theft? The Fed directly stole money from savers with the stated purpose of levitating assets which for the most part are owned by the top 1%.
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