Posted on 06/20/2013 7:12:05 AM PDT by AngelesCrestHighway
NEW YORK (MarketWatch) — U.S. stocks tumbled Thursday, along with Asian and European equities as well as gold and bonds after the Federal Reserve signaled its bond buying could be scaled back later this year Downbeat Chinese manufacturing data and worse-than-expected U.S. economic reports further weighed on sentiment.
(Excerpt) Read more at marketwatch.com ...
was about time for them to release some new rabbits to chase
That’s what happens when the Fed is telling them they are going to taper down on buying 40 Billion a month in stocks and printing up $45 billion in scrip per month to buy T-bills (paying with one credit card with another) so it looks like Obama has a stash.... Good luck fighting against the computers and insiders in the stock market....
The market will seek its natural level, the level it would have been at were it not for the infusion of trillions of “Bernanke Bux”(tm).
I’m not a finance guy and don’t understand most of it but doesn’t this support the argument that the “booming stock market” of the last couple years is purely a result of the Fed printing money and pumping this imaginary capital into the financial sector?
Yes indeedy!
The "0bama Recovery" is nothing more than an overinflated economic balloon filled with YOUR MONEY pumped in by the Fed. Stop the pumping, and watch how fast it collapses.
The guy on Fox News this morning said he thought the Fed would continue to prop up 0bama with continued pumping of money. Maybe the Fed is signalling that they too are Fed up with the commie usurper.
Last call to get the hell out of the Market!
Absolutely. It's a huge pipeline delivering free money to the already-wealthy. And to think the liberals still call true capitalism "trickle-down" economics.
When the Dow reaches 9500, I’m jumpin back in!
That's probably enough to get them designated as possible terrorists.
There will come a point...not sure when or how long it will take.
Circuit breakers may well kick in today..
“Bartender Ben issues last call...”
That’s a good way to put it.
“Maybe the Fed is signalling that they too are Fed up with the commie usurper.”
There are 7 governors of the Federal Reserve System including Bernanke. While Bernanke was appointed by George W. Bush, he was reappointed by Obama. 5 of the other 6 governors were appointed during the Obama Administration.
One might presume the Fed is a tool of the administration.
Janet Yellen, the Vice Chairman appointed by Obama, is rumored to be in the lead to replace Bernanke. She is another Ivy League establishment progressive. She has an undergraduate degree from Brown University and PHD from Yale. She taught at the University of California at Berkeley before being appointed to the Fed for the first time by Bill Clinton. Later she was chair of Clinton’s council of economic advisors. Prior to being appointed Vice Chairman of the Fed she was President of the Federal Reserve Bank in San Francisco. Early in her academic career she taught at Harvard.
Far from being “Fed” up with Obama, the Fed governors appear to be supporters of the progressive globalist agenda as is Obama.
Yep, but can anyone savvy answer why gold/silver are also getting hammered? (Which I’m fine with - might just buy some more).
yeah bayyybeeee!
Both are tied to QE and if that is starting to end, then the party ends there.
Both are continually making new lows so it’s hard to stand up for them but if the stock market continues to crack while the middle of the US Curve moves higher coupled with stagnant labor growth and less than 2% GDP....at some point the Fed will back off this tapering talk, Ben will step aside for Yellen who is the ultimate dove and gold/silver should rebound.
This ending QE comes at a serious price, one Obama is not going to be willing to pay. Ben is no Volker and Obama is the anti-Reagan so we all get to suck on this one.
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