Posted on 09/07/2012 6:05:37 AM PDT by blam
GOLDMAN: Bad Jobs Report Puts Odds Of QE Next Week Above 50%
Joe Weisenthal
August 7, 2012
BOTTOM LINE: With today’s August employment report showing a nonfarm payroll gain of 96,000 and an unemployment rate of 8.1% because of a drop in the participation rate, we expect a return to unsterilized and probably open-ended asset purchases at the September 12-13 FOMC meeting.
MAIN POINTS:
1. We now anticipate that the FOMC will announce a return to unsterilized asset purchases (QE3), mainly agency mortgage-backed securities but potentially including Treasury securities, at its September 12-13 FOMC meeting. We previously forecasted QE3 in December or early 2013. We continue to expect a lengthening of the FOMC’s forward guidance for the first hike in the funds rate from “late 2014” to mid-2015 or beyond.
(Excerpt) Read more at businessinsider.com ...
Bernanke would have made a great medieval barber -
bleed ‘em till they get better!
print money until the economy improves!
I urge President Romney to nominate Dallas Fed President Richard Fisher (Inflation Hawk) as head of the Federal Reserve.
Between Obama spending money to “stimulate” the economy and Bernanke printing it like it is going out of style, they have created a hyper artificial economy that that is divorced from any semblance of reality. They refuse to attack the systemic problems but rather kick the can down the road, make things worse and pray they are not sitting in the chair when hyper inflation and credit defaults set in.
If “ - - - print money until the economy improves - - - “ is not counterfeiting, then what is?
BTW, isn’t counterfeiting illegal?
Think about it...
It’s ALL counterfeit. It only has value because the federal government has the power to enforce that it has value.
You have succinctly summed up the essence of it. Well done.
The report's weak tenor was also underscored by revisions to June and July data to show 41,000 fewer jobs created than previously reported. The labor force participation rate, or the precentage of Americans who either have a job or are looking for one, fell to 63.5 percent -- the lowest since September 1981.
And the Wall St. hustlers are cheering the fact that a pathetic 96,000 jobs were created last month and July was revised down to a truly horrible 46,000....not even 1,,000 per state! These dependents of the Fed know that Ben, the Bartender, will be serving another round of Fed borrowing booze soon, so they can feed their habit of playing the rigged stock market backed by taxpayer money. Make money, it’s mine. Lose money, it’s yours. What a rotten system.
Give the addict another hit.
” - - - It only has value because the federal government has the power to enforce that it has value.”
Not so. The “value” is only in the minds of those who choose to buy our Federal Government Bonds.
However, you may have a point if the Federal Government continues to Nationalize Industries for its own account.
And if 50% plus one person decides that it’s all conterfeit the whole house of cards comes down.
I know I ma not the only one on here who knows people who are near retirement age and have lost their jobs and now are just trying to get by on what they have till age 65.
People are going back to school after being laid off, but of course the MSM will of course again cheer at 8.1 and not tell their sheep the real reason why it is down.
If anyone is on FB which I ma not anymore then expect to see people spouting off how great 8.1 is to teir pals but never telling them the real reason why.
Bump so I can find this later.
The fact is if we count the people that have given up their hope of finding a job or we counted the students that have graduated and are unable to find their first job and all the retirees that have lost their nest egg and need to but cant find a job to reenter the work force. The real unemployment rate would be approaching 20 percent.
I heard something new the other day.
People are reporting that their “new 401k plan” has no cash equivalent money market option,
and that the “safe harbor fund” that is offered is heavy in gov’t treasury bonds.
Backdoor nationalization of 401k’s, anyone?
That is an interesting graph. Looks like the last three recessions have been a lot slower recoveries for job losses. That should “stimulate” some discussion.
If they keep this up, then a loaf of bread is going to cost $6.
“They refuse to attack the systemic problems but rather kick the can down the road, make things worse and pray they are not sitting in the chair when hyper inflation and credit defaults set in.”
Which is what I think Hillary and Bill are banking on for 2016. I think they feel that things are inevitably going to worsen, and that they would rather sit back and position themselves as potential saviors for 2016 than to be in the chair when financial meltdown occurs.
That said, I really believe that the whole mess could turn around rapidly if Romney (or anyone who actually believes in capitalism) takes office. At that point the money on the sidelines jumps back in and things start working again.
exactly, but we all know how this media covers and lies foer their messiah and their party.
What pisses me off is that we have so many dopes that they actually think they are being told the truth about this unemployment figure, they see an AD and tey saw oh great things are better.
Is the fed buying gold?
The good news is that any easing won’t take effect for months. Too late to help The Disaster.
He is going down like the Titanic.
Now you’re talking. Too bad you didn’t give the RATs that idea a week ago, it could have been a major plank in their platform.
Don’t bet on “hyper-inflation”. When construction is dead and housing prices not recovering there won’t be any inflation defined as a rising general price level.
Issuing money by legitimate issuers has nothing to do with “counterfeiting”.
I have seen many predictions out there that QE3 will put us over the edge. Everybody get ready.
$2,000/oz. by Xmas or Bust, Baby!
1 Trillion Yuan ??
what’s that, 25 bucks? ;-)
I visited a company today and they were concerned about a rumored East Coast Dockworkers strike said to be coming the end of the month. They are already experiencing delays in container availability and expect that to get worse.
In other words, Obama has caught Carter, economically.
“Hyper-inflation” is a phenomenon in which everyone has lost faith in the currency in question and anyone who has it is trying to unload it for whatever they can get for it, leading to 100%-per-week price increases, not mere “10%-per-year” increases.
If our government keeps spending a terabuck per year that it doesn’t have, hyperinflation is coming here.
” - - - nothing to do with “counterfeiting” - - - “
Really?
When the GDP is flat or negative, year to year, and some jerk-water Princeton Professor prints paper/rag “money” at a faster rate than the year before, Enema Ben is not trying for “quantitative easing,” he is just adding money with no value to a constipated system that can’t budget.
The only thing worse than a non-Goverernment counterfeiter is a Government counterfeiter.
In other words, between the 9/11 attacks and their effects, Bush's mistakes (yes, he made some big ones), and Obama's anti-American policies, we have lost all the gains since the start of Ronald Reagan's presidency. Those who accuse Obama of being incompetent should look at Obama's goals and accomplishments. Obama is celebrating. As the community organizer says: "our plan is working!"
Carter ReduX — I’m waiting for the ‘chill wind’ and wool sweaters ads.
Whatever happened to Tim Robbins anyway? Where is Sean Penn? oh wait, they have jobs.
Gold - COMEX
1,741.00 Up 33.10(1.94%) 3:07PM EDT
That's it in a nutshell. It's all about funding government - not fueling the economy.
Socialists Union backed by their fascist so called “banking” and “insurance” benefactors, haven’t got their bailout, so Qe continues until planned 2014 HillaryRomney Extortion-Care.
That’s right, and that funding is flooding price pressures on all essentials, food, fuel, etc., The reason for the fascist plan and their enablers for the 2014 Extortion-Care heist of HillaryRomney.
I agree that QEW(hatever) is about funding....funding O’s campaign and paying off what few large donors they have.
Read The Creature from Jekyll Island . . .
QE coming! Wall Street gonna be so happy!
The government will go after you for counterfeiting in the same vein as when one mafia organization will go after another for working its home turf.
If GS says go long, it’s time to go short.
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