Sunday, August 30, 2015

Slow Saturday Special: Fed to F**k Us All

I don't what el$e you can call it (as blog editor tilts head with open palms upward, begging understanding):

"Fed vice chairman leaves door open for September rate increase" by Binyamin Appelbaum New York Times  August 28, 2015

JACKSON HOLE, Wyo. — The Federal Reserve will give serious consideration to raising its benchmark interest rate in mid-September, particularly if volatility subsides in financial markets, a number of Fed officials said Friday.

The comments suggested that some investors and analysts had been too quick to discount a September rate increase, particularly as markets finished the week on a relatively quiet note Friday.

That rate hike, whatever it is, will come, and then an October crash will follow. I've seen this before. It's in my hi$tory books.

"Well, that was exciting. Days after China threw the biggest scare into Wall Street in years, US stocks came surging back, ending the week on a placid note that suggested the worst may be over for now. But investors are buckling their seat belts for more turbulence ahead. Stocks went into their swoon last week, mostly over signs of a slowdown in China. But they soared at midweek, cutting the Dow’s losses nearly in half, a rally analysts attributed to bargain-hunting and a new report that said the US economy is growing at a more robust rate than previously believed. Still, the concerns that triggered the sell-off remain: slumping oil prices, a slowing Chinese economy, weak corporate earnings forecasts, and uncertainty over interest rates. That means there’s likely to be more market volatility ahead. Stay tuned."

So many mixed me$$ages (all meant to rea$$ure).

“We haven’t made a decision yet, and I don’t think we should,” Stanley Fischer, the Fed’s vice chairman, said in an interview with the cable network CNBC. “We’ve got time to wait and see the incoming data and see what exactly is going on now in the economy.”

He just contributed to the uncertainty, and don't they know? Why are their optimistic pronouncements always wrong? 

At least the $elect elite got richer. That's all I really care about any more. Are the lords and ma$ters $ated?

"Plummeting stock prices have taken a toll on US consumer confidence, though there are signs the setback may be temporary. The University of Michigan says its consumer sentiment index fell to 91.9 this month from 93.1 in July. The index is still up 11.4 percent from a year ago. The figures provide an early read of the impact on consumers from the 1,900 point drop in the Dow Jones industrial average over six days through Tuesday. Stock prices have since recovered some of those losses. The University of Michigan surveys consumers throughout the month and so some of the responses were tallied as stock prices plunged. The University said it extended its interviews until Aug. 23. The survey also found that Americans remain confident about the US economy and their personal finances."

Yeah, gotta have "confidence" in the markets (meaning Wall Street).

The Fed’s policy-making committee is set to meet Sept. 16 and 17. 

This September will be a month to remember.

Fischer offered an upbeat assessment of the domestic economy. He described job growth as “impressive” and said there had been a “pretty strong case” to raise rates in September before the latest global turmoil.

He's quoting fried figures, but whatever.

"US consumers increased their spending moderately in July, as wages and salaries made their biggest jump in eight months. Spending rose 0.3 percent in July, helped by purchases of big-ticket items such as cars, the Commerce Department said Friday. June’s result was revised up to a matching 0.3 percent gain. Incomes rose 0.4 percent in July. The key category of wages and salaries rose 0.5 percent, the biggest advance since last November. The report suggests that consumer spending, which accounts for 70 percent of economic activity, got off to a good start in the third quarter. Economists, who believe the economy will be fueled in the second half of this year by solid income and spending gains, were encouraged by the July results. ‘‘All of the data are heading in the right direction,’’ said Jennifer Lee, senior economist at BMO Capital Markets in a note to clients. ‘‘Except for inflation.’’

So says your banker's mouthpiece, I mean "main$tream" media pre$$.

“We’re getting back to normal, and at some point we will want to show that, by beginning to normalize interest rates,” he said, speaking during a break at the annual conference hosted here by the Federal Reserve Bank of Kansas City. 

It's the "new normal," of course, and how do you like the former head of the Bank of Israel(!!) sitting right under Yellen

Btw, forget about president; looks to me like women are in positions of power already. 

Better start focusing on cla$$, guys, even though the propaganda pre$$ uses every trick in the book to divert and divide.

Dennis Lockhart, president of the Federal Reserve Bank of Atlanta and a centrist on the Federal Open Market Committee, told Bloomberg that he saw roughly even odds of a September rate increase.

Where can I bet on a derivative regarding a Fed rate increase?

James Bullard, president of the Federal Reserve Bank of St. Louis, said in an interview that he was reserving final judgment, but that he did not see strong reasons for the Fed to delay.

So, kids, those college loan payments -- gonna balloon!


RelatedInterest rate hike a tougher call after a volatile week in the markets

Also see: Bonus Coverage

It won't be as much as before:

"Fast-food’s new target: The snack attack" by Candice Choi Associated Press  August 29, 2015

NEW YORK — Forget the Big Mac attack. Now is the time of the snack attack.

After years of slinging super-sized servings, some fast-food chains are starting to see the benefits of offering daintier bites. That includes mini-hot dogs, little chicken sandwiches. and shakes that are smaller than a small.

You $ee the benefit in the reduced portion?

It’s all intended to entice people who are searching for a small treat between meals, a cheap bite, or a little something extra at mealtime.....

I'll let you look at the menu.


You kids will be eating a lot of that stuff, I'm sure (unless it's Ramen noodles all the time).

RelatedUSDA to approve Simplot’s genetically engineered potato

Are you sure you want fries with that?

Looks to me like all that obesity and health talk is simply to fatten government coffers. Other than that, pre$$ is promoting this stuff all the time (#Tweet). It's enough to drive you nuts.

Speaking of which:

Merger report boosts Ariad stock

I wasn't buying, but I'm floored (must have been the drink), and a wynnah has been declared (and I'm not going to waste another breath on it)!

UPDATE: The party is over.