"Dollar falls again against euro, yen" by Associated Press / October 15, 2010
WASHINGTON — The dollar keeps falling against other major currencies....
Stock and oil prices have surged. Commodities like gold, silver, and corn have risen. Treasury yields have slid. Mortgage rates have sunk, too, along with yields on money market and CD accounts. The steep decline has even raised worries of a global currency war, with nations competing to keep their currencies from rising as the dollar sags.
Yesterday, the dollar fell to a 15-year low against the yen and touched its lowest level against the euro since January....
What does this mean for consumers and businesses?
For one thing, imports can cost more. So does travel abroad. Goods from US companies become cheaper for foreigners, and oil tends to cost more. Even the likelihood of some new price bubble in investments, such as stocks or real estate, could rise.
That's why the stock market looks good.
But the US economy is so weak the Fed considers a cheaper dollar to be a good thing, especially when interest rates are low, too.
Is that GOOD FOR YOU, American?
Those cheaper rates could help rejuvenate the economy.
But have not.
Consumers and businesses would be more likely to borrow and spend — at least those who are able. The idea is that higher spending would course through the economy, boosting corporate revenue and creating jobs....
It's done the first, not the second.
Eventually, the low dollar should help boost US exports.
But has not.
Yet so far, there’s little evidence it has....
But KEEP DOING the SAME FAILED THINGS anyway!
I mean, BANKERS are doing JUST FINE!
--more--"
And the Fed LIKES the HIGHER PRICES!??!
"For Fed, a little inflation may be a good thing" by Jeannine Aversa, Associated Press | September 23, 2010
WASHINGTON — It might seem like prices are rising wherever you look, from medical care to college tuition. Yet to the Federal Reserve, they might not be going up fast enough.
What f***ing a**holes!!!!
That blade ain't coming down fast enough.
The Fed says a little more inflation might be just the thing to start a chain reaction that would ultimately create jobs — and avoid a spiral of falling prices that could damage the economy.
These guys have f***ed this thing up so much after ripping us all off it is OUT-FUCKING-RAGEOUS!!!!!!!!!!!!!!!!!!!!
In a statement Tuesday, the Fed avoided directly mentioning the dreaded word “deflation,’’ but it signaled its concern that today’s very low inflation might lead to actual price drops....
Yeah, PRICES are STILL GOING UP, but.... I guess they just expect us to buy the banker's bullshit -- or be buried by it.
Once deflation takes hold, it can wreck an economy. Workers suffer pay cuts. Corporate profits shrivel. Stock values fall. People, businesses, and the government find it costlier to pare debt. Foreclosures and bankruptcies rise.
You know which of those they care about and which they do not, don't you?
And people spend less, convinced that prices will fall even further if they just wait....
Yeah, it is ALWAYS the FUCKED-OVER CONSUMERS FAULT!
The Fed’s statement Tuesday made clear that it’s prepared to intervene to prevent deflation. One way would be to make big purchases of government bonds to drive down long-term interest rates.
Yup, PRINT MONEY to BUY UP and PAY OFF BAD DEBT -- and STICK American taxpayers with the INTEREST PAYMENTS and s*** "assets."
“The average person may be bewildered by the Fed’s concern about deflation,’’ said Allen Sinai, chief economist at Decision Economics. “But part of its job is to be educational. The Fed wants people to know it is not going to let this rare disease happen.’’
Oh, the American people have gotten quite an education after the massive mortgage securities fraud that destroyed this country and their savings.
The last time the country endured a destabilizing case of deflation was during the Great Depression of the 1930s.
That is why THIS EXPONENTIALLY WORSE CRISIS will be known as the GRAND DEPRESSION and the END of the AmeriKan Empire in the history books!
And you can "thank" the PRIVATE BANKING CONSORTIUM known as the Federal Reserve for it!
Japan is still fighting deflation years after its 1990s financial crisis, even as it has kept its key short-term interest rates near zero, as the Fed has for nearly two years. So far, the Fed’s ultra-low rates have failed to rejuvenate the economy.
Yup, the FED has FAILED!
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And yet it STILL DOES the SAME THING OVER and OVER AGAIN?
Isn't that INSANE?
"Fed expected to renew purchasing securities; But economic impact uncertain" by Sewell Chan, New York Times News / November 2, 2010
In theory, the Fed could print trillions of dollars to achieve its aim, but it is far more likely to start with a smaller amount — perhaps a few hundred billion — and gradually buy more bonds as conditions warrant.
ALREADY HAS and it DIDN'T WORK -- unless you wanted to stick it to American taxpayers while reaping billions for your Wall Street friends!
That open-ended, conditional approach would be a departure from the Fed’s first, $1.7 trillion round of debt purchases, which lasted about 15 months and ended in March.
The Fed’s chairman, Ben Bernanke, seems to be under no illusion about the potency of the new purchases, having declared in August that “central bankers alone cannot solve the world’s economic problems.’’
Yeah, they CREATED THEM, you f***!!!!!!!!!!!!!!
With inflation well below the Fed’s unofficial target of 2 percent, unemployment stuck at nearly 10 percent, and gross domestic product growing at a lethargic rate, Bernanke has evidently concluded that doing nothing is not an option.
But economists seem to be in broad agreement that no matter the magnitude of the Fed’s actions this week, the economy will remain challenged for some time.
AS PLANNED!
“There is a substantial chance that the US economy is headed into a lost decade, similar to what Japan has experienced in the past 15 years, possibly with zero inflation instead of actual deflation,’’ said Robert J. Gordon, of Northwestern University, who serves on the committee that determines the start and end dates of recessions.
And by the end of it you will have LOST YOUR COUNTRY, Americans.
But WHAT DO YOU CARE? There is "Dancing With the Stars" or a football game to watch!
“But the consequences for the US population will be much more severe than in Japan,’’ he added, “because of our higher unemployment rate, our lack of a social safety net, our system that ties medical insurance to employment instead of making it a right of citizenship, our greater inequality and our higher level of poverty.’’
Yeah, TOO BAD the government didn't set up a SINGLE-PAYER, UNIVERSAL HEALTH PLAN and instead gave you a HEALTH TAX you will be UNABLE TO PAY!
But hey, at least Wall Street and the bankers are doing fine!
What the chairman has not managed — or necessarily tried — to do, however, is to quell the dissenting voices within the Fed who believe that additional action is a grave mistake.
The most prominent dissenter, Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, has argued that additional quantitative easing could lead to imbalances and volatility, undermine the Fed’s independence, and unmoor inflation expectations.
Oh, IN-FIGHTING at the FED!? Then the SYSTEM is CLOSE to COLLAPSE!!!
In his most pointed language to date, he recently called the plan a “dangerous gamble’’ and a “bargain with the devil.’’
That is WHAT YOU DO when you are DESPERATE!
As for deals with the devil, we know who they are and what they wear now.
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And the result of the bargain?
"Central Banks prepare responses to Fed's decision; Falling dollar may affect recoveries in Japan, Europe" by Pan Pylas, Associated Press | November 3 2010
LONDON -- Monthly asset purchases of around $100 billion a month over the next six months are intended to boost growth because they create new money, a move that could also undermine the dollar.
Create new money? Out of what, thin air?
Anything more than that $100 million a week figure could hurt the dollar even more. Though the prospect of more dollars in the financial system has been a boon to stocks over the last few weeks, the dollar has tanked....
But he is looking out for YOUR INTERESTS, American consumer!
While the US economy has stuttered, the eurozone economy has outperformed expectations despite ongoing debt problems in a number of countries."
Looks like you are being left behind, 'murka!
I couldn't provide a link because that story was scrubbed from the Globe's website.
"Fed to spend $600b on Treasury bonds" by David E. Sanger and Sewell Chan, New York Times / November 4, 2010
WASHINGTON — The Federal Reserve moved to jolt the economy into recovery with a bold but risky plan yesterday to pump $600 billion into the banking system.
Didn't work the first time.
Actually, it did if you were a bank; you got to stuff your pockets with the stuff and hand out billions in bonuses.
The action was the second time in a year that the Fed had ventured into new territory as it struggles to push down long-term interest rates to encourage borrowing and economic growth.
We don't want to borrow anymore, assholes.
The Fed said it was acting because the recovery was “disappointingly slow,’’ and it left the door open to even more purchases of government securities.
The Fed is an independent body, its policy decisions separated from the political pressures of the day.
Yeah, RIGHT! The Fed is ABOVE POLITICS!
But it acted with a clear understanding that the United States, like many other Western countries, seems to have taken off the table many of the options governments traditionally use to give their economies a kick, particularly deficit spending.
Yeah, Benny warned us about that.
WASHINGTON — The Federal Reserve moved to jolt the economy into recovery with a bold but risky plan yesterday to pump $600 billion into the banking system.
Didn't work the first time.
Actually, it did if you were a bank; you got to stuff your pockets with the stuff and hand out billions in bonuses.
The action was the second time in a year that the Fed had ventured into new territory as it struggles to push down long-term interest rates to encourage borrowing and economic growth.
We don't want to borrow anymore, assholes.
The Fed said it was acting because the recovery was “disappointingly slow,’’ and it left the door open to even more purchases of government securities.
The Fed is an independent body, its policy decisions separated from the political pressures of the day.
Yeah, RIGHT! The Fed is ABOVE POLITICS!
But it acted with a clear understanding that the United States, like many other Western countries, seems to have taken off the table many of the options governments traditionally use to give their economies a kick, particularly deficit spending.
Yeah, Benny warned us about that.
In stepping in so aggressively, the Fed is taking risks. The action not only expands the Fed’s huge portfolio of Treasury bonds but makes it a target of a Congress whose new members include some who are hostile to the Fed’s independent role.
That is the NEW TEA PARTY CROWD that the corporate media worked so hard to turn America against.
Ordinarily the Fed’s main tool for spurring economic growth is to lower short-term interest rates. But those rates are already near zero. With no more room to go, it has to find another route.
Translation: The FAILED FED is OUT of TOOLS!!
That route is to buy government bonds, which increases demand for them and raises their prices, pushing long-term interest rates down....
Didn't work the first time.
The Fed said it would also continue a program of using proceeds from its mortgage-related holdings to buy additional Treasury debt, at a rate of about $35 billion a month.
In other words, all the MORTGAGE SECURITY SHIT the Fed bought up is allegedly being used to underwrite the addition of more shit debt!
Readers, this HAS TO BE the MOST MASSIVE RIP-OFF in the HISTORY of the WORLD!!
So in total, the Fed will buy $850 billion to $900 billion, just about doubling the amount of Treasury debt it currently holds.
And we were told $600 billion.
If the Fed’s bet is right, lower long-term rates should ripple through the markets, pushing down rates for mortgages and corporate bonds.
If? IF? Their track record is NOT SO GOOD!!
That could encourage homeowners to refinance into cheaper mortgages.
But did not before.
It could push also businesses to make investments.
And my grandmother could have been a bicycle if she had wheels.
Coulda, woulda, shoulda, SHIT!!!
--more--"
"Fed set to buy $105b in bonds; Move is first phase of strategy to give economy a boost" by Jeannine Aversa, Associated Press / November 11, 2010
WASHINGTON — The Federal Reserve will buy a total of $105 billion worth of government bonds starting later this week as it launches a new program to invigorate the economy....
However, some Fed officials and economists do not think the program will do much to rev up the economy and lower unemployment....
And there are fears inside and outside the Fed that the program could lead to new problems: runaway inflation and inflated prices for commodities, bonds, or stocks, creating new speculative bubbles.
That is what Benny wants because it makes the Dow look good -- and how can the economy be bad if the 30 largest and hand-selected companies are doing great?
Gold prices have jumped. Some investors see the precious metal as a hedge against inflation.
The Fed’s program also has struck a nerve overseas. China and other countries have complained that the Fed’s program could hurt them. Because the program could weaken the US dollar further, that makes other countries’ currencies more expensive, cutting into their exports, and fueling inflation.
That is why THINGS COST MORE every MONTH with NO INFLATION!
--more--"
Related: Rosengren sees signs bond buys working
Yup, the dollar is getting weaker by the day.
"Low inflation bolsters Fed bond buy" by Associated Press / November 18, 2010
WASHINGTON — Consumer prices barely changed for the third straight month, strengthening the Federal Reserve’s hand at a time when it is defending a plan to boost the economy by buying more government debt.
Really? Where?
What a PIECE of BULLSHIT -- just as the FED NEEDS IT, huh?
Extraordinarily low inflation was a major impetus for the Fed program to spend $600 billion buying Treasury bonds. A report yesterday from the Labor Department showed that inflation remains super-low.
Yeah, because lying government says so it must be true.
A steep rise in gasoline prices drove the consumer price index up 0.2 percent in October, the fourth straight monthly increase.
And here I was told prices would be coming down:
Gas, Gold, and Garbage
Hey, what's ONE MORE LIE in a NEWSPAPER FULL OF THEM EVERY DAMN DAY!!!!!?!!!!!!!!
But excluding volatile food and energy costs, core consumer prices were unchanged for the third straight month....
Yeah, if you FUCK with the FIGURES there IS NO INFLATION!
--more--"
And about that oil:
"Oil prices lifted by stocks, weak dollar" by Associated Press / October 21, 2010
Oil bounced back yesterday as a weaker dollar, strong corporate earnings, and rising stock prices brought buyers back....
Meanwhile, retail gasoline prices continued to climb, with the national average at $2.831 for a gallon of regular, according to AAA, Wright Express and the Oil Price Information Service. It’s up 10.5 cents from a month ago and 25.4 cents from a year ago.
This as supplies have grown!
For weeks traders have dismissed the fact that oil and gasoline supplies remain plentiful, focusing instead on the movement of the dollar and stock markets as they buy and sell oil for future delivery....
Yeah, your "free market" is BROKEN, AmeriKa!!!
Gasoline inventories grew....
The dollar fell against other currencies yesterday. Since oil is priced in dollars, a weaker dollar means traders who buy with foreign currencies can get more for their money.
While YOU get LESS for YOURS, Americans!
--more--"
Related:
"For one day at least, the price of both oil and natural gas was dictated by supply and demand....
--more--"
Oh, PRICES WENT UP AGAIN, huh?
"Oil prices continued to slide yesterday on lingering concerns about economic stability in Europe and a possible slowdown in China’s robust economy....
Then WHY DO THEY KEEP going UP at the PUMP?
--more--"
"Oil prices fall amid economic fears" by Matthew Daly, Associated Press / November 23, 2010
Oil prices retreated yesterday as concerns grew about economic stability in Europe after Ireland sought billions of dollars in financial assistance from its neighbors....
Meanwhile, the national average for a gallon of regular gasoline was $2.876 yesterday, according to the Energy Department’s Energy Information Administration. That is almost 2 cents less than a week ago and about 24 cents more than a year ago....
Sorry, but they are NOT GOING DOWN AROUND HERE!!
Ireland’s action follows a multibillion dollar European bailout approved in May for Greece to prevent it from defaulting on its debt. Now, traders and investors are concerned that heavy debt burdens in Spain, Portugal, and Italy may lead to other bailout packages, slower global economic recovery, and weak demand for oil and gas. Some traders are selling contracts to reduce their risk ahead of the Thanksgiving holiday weekend.
Efforts by China to tighten its monetary policy, which include higher bank reserve requirements, also weighed on energy prices. China’s rampant growth and thirst for energy have driven oil prices higher even as economies in the United States and Europe have been sluggish....
Yeah, I thought I would end it with another lie from the banker's media.
Yup, EVERYTHING is CHINA'S FAULT!
Or Korea's fault!
Or Iran's fault!
Or Iraq's fault!
Or Afghanistan's fault.
Or Pakistan's fault!
Or Venezuela's fault!
Or ANYONE'S FAULT other than the Federal Reserve, Washington D.C., and Wall Street!
--more--"
I was told we have been in recovery for over a year.
Also see: Sunday Globe Special: State Economy Sucks
