Hat Trick Letter summary comments on the US Federal Reserve: . The USFed is a band full of liars. They will continue Quantitative Easing to Infinity or collapse. They are backed into a corner, with no policy options left, and are grand operators of a crime syndicate. ******************************************* QE IS NOT OVER, EVEN THOUGH THE CLAIM IS MADE WITH FANFARE... THE RUBBISH SPILLS OVER IN MONETARY POLICY RATIONAL THOUGHT AND JUSTIFICATION... THE HACKS ON THE COMMITTEE SEE THE RISKS TO THE OUTLOOK FOR ECONOMIC ACTIVITY AND THE LABOR MARKET AS NEARLY BALANCED... THEY SEE IMPROVEMENT WITHIN THE CHRONIC DEEP RECESSION BETTER DESCRIBED AS DEPRESSION... THEY DRINK THEIR OWN KOOL-AID AND HAVE DEEP DISTORTIONS, MIXED WITH COMPROMISED BRAIN FUNCTION. $$$ The latest FOMC statement showed that the USFed sees labor market conditions improving further since its last meeting, with solid job gains and a lower unemployment rate. Both are nonsense, based mostly in part-time jobs, double counted jobs, absurd Birth-Death Model fiction, and other rubbish well-founded in propaganda. The USFed promises of considerable time to elapse until its first interest-rate hike. The Jackass agrees, but like forever. To be sure, the collapse will happen before forever, guaranteed. Only Minneapolis Fed President Narayana Kocherlakota offered dissent, preferring to stay the course and keep the monetized asset purchases rolling along. The errant perceptions are astonishing. The official statement included the following items. The economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that under-utilization of labor resources is gradually diminishing. Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has continued to run below the Committees longer-run objective. Market-based measures of inflation compensation have declined somewhat. Survey-based measures of longer-term inflation expectations have remained stable. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for economic activity and the labor market as nearly balanced. Although inflation in the near term will likely be held down by lower energy prices and other factors, the Committee judges that the likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year. The Committee judges that there has been a substantial improvement in the outlook for the labor market since the inception of its current asset purchase program. Moreover, the Committee continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the Committee decided to conclude its asset purchase program this month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committees holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions. Pass the barf bags. Rubbish, wrong on all counts, poor perception, acceptance of false data, dangerous hints, failed policy. They did not tell how the $4.5 billion balance sheet filled with farm manure would be disposed of. Progress toward maximum employment is a total unholy joke. The crude oil price has been slammed down for an anti-Russia motive, but also for a US-based cost benefit. The Jackass will not waste words refuting every single item above. The entire Hat Trick Letter report contradicts such shallow policy explanations and absurd perceptions . The USFed appears to be declaring victory on a totally ruinous battlefield, and moving on like with Vietnam 30 years ago. The USFed is a band full of liars. They will continue Quantitative Easing to Infinity or collapse. They are backed into a corner, with no policy options left, and are grand operators of a crime syndicate. They move more heroin packets than business loans. They will continue the Zero Percent policy and continue the QE asset purchases in hidden manner, using proxies and conscripted sources.
Posted on: Wed, 19 Nov 2014 02:33:16 +0000
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