The Phaserl


Thoughts on a “too quiet” Labor Day

from gpc1981, Gains Pains & Capital:

The stock market is closed today for Labor Day.

A few thoughts on the preceding week:

1) The US Federal Reserve disappointed in a big way during its annual Jackson Hole meeting. It was in 2010 that Fed Chairman Ben Bernanke hinted at QE 2, which kicked off a large rally in stocks and other risk-on assets.

Investors and the mainstream financial media are desperate to claim he did something similar this time around. He did not. Instead, he issued the same message the Fed has issued for over a year: we stand ready to act if things get bad.

However, this has not stopped the media from proclaiming that the Fed has left the door wide open for announcements of QE at its September 12-13 FOMC meeting. This however is virtually impossible due to a) food prices, b) gas prices, c) the upcoming US Presidential election election and d) the fact that the banks don’t need QE, they already have ample liquidity sitting around (this is a solvency crisis, not a liquidity one).

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2 comments to Thoughts on a “too quiet” Labor Day

  • Ed_B

    Both the banks and the depositors have trillions of US dollars sitting on the sidelines, waiting for some show of competence and confidence. So far, neither has appeared. I cannot understand why the 2012 election is perceived as being “so close”. On the one hand, we have an absolutely failed administration that has tried its socialist policies for more than 3.5 years. Like everywhere else they have been tried, they have failed and failed utterly. There is no known example of such policies succeeding in the history of this planet. On the other hand, we have a new possible administration that understands both business and numbers. It is physically impossible for them to do worse than the current administration, yet the voters are said to be “hesitant to choose” between them. Hesitant? What is there to lose? A possible failure vs. a KNOWN failure is no choice at all. Possible failure also means possible success. If the choice is between slim and none, then slim IS the ONLY real choice there.

    Not that either of them can avoid the impending collapse but the Repubs will likely keep things going for another couple of years and that is enough time in prepping to make ALL the difference. If you’re still capable of voting, then vote Repub. We desperately need all the time we can get, so even if they can only buy us a year or two, that will be time WELL worth having.

    • Glitter1

      I agree with you.I can’t stand the lying of Obama and the deception of what he and his administration stands for.I’m not happy with Romney for various reasons, but I can’t swallow Obama being there for another 4 years.

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