kaltbaum premarket

I do not usually use expletives when I write but calling the fed assclowns is well-deserved. They know that their minutes are going to come out and will move markets. So…just when you think something is going to happen, we get this earlier this morning:

 

On tv this morning, Fed’s Bullard says ‘Fed has seen more encouraging data since the Fed meeting; says Fed is being vague on timing of possible stimulus; says if 2% growth resumes with lower unemployment, likely Fed will stay on HoldSays Fed is keeping all options open and economy has not recovered as much as the Fed would like to see. Says Fed determined to act if the economy deteriorates further; not clear if that action is needed right now. Says, should note that the latest FOMC minutes are a bit stale; says he is in the ‘late 2013 camp’ for raising rates.

 

The fed is not just a bunch of assclowns, they are much worse. I will not use any worse words but you get the hint. The fed knows their minutes are coming out and know they will move markets…and now a fedhead comes out today and contradicts everything. So what happens, futures drop. These people do not seem to give a crap that investors are making moves based on information at hand. The problem is that we have never seen so much information. We have never seen so much manipulation. We have never seen so much interference in the markets. These people refuse to shut up. They refuse to get out of the way. They refuse to let markets be free. Maybe I am just ranting but the outcome of all this cannot be good. After all, the fed is being led by a man who missed the whole financial/housing/lending debacle that was in part caused by his ridiculously easy monetary policy and how does he try and fix it? With even more ridiculously easy monetary policy. This is the same man that said subprime lending was good. This is the same man that said housing would be fine and would not affect the economy. Only when the economy and housing were already heading south in a big way, did he acknowledge it.

 

Everything the fed has ever done ended in bubbles and then crashes. I will leave it at that.

 

Futures down…and sitting back today. We are heading into month-end action.