MERCATO LIBERO

Contare sul QE sara' come l'attesa del Deserto dei Tartari. Prepariamoco al peggio. MD

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June 1, 2012
Sorry Folks, QE 3 Ain't Coming... Even the Fed Doves Admit It
Once again the US economy is tanking and everyone is talking QE 3. Sorry folks, it ain't coming. Bernanke said point blank that it was less attractive as a monetary tool as far back as May '11!!!

Q. Since both housing and unemployment have not recovered sufficiently, why are you not instantly embarking on QE3? -- Michael A. Kamperman, Waco, Tex.
Mr. Bernanke: "Going forward, we'll have to continue to make judgments about whether additional steps are warranted, but as we do so, we have to keep in mind that we do have a dual mandate, that we do have to worry about both the rate of growth but also the inflation rate...
"The trade-offs are getting -- are getting less attractive at this point. Inflation has gotten higher. Inflation expectations are a bit higher. It's not clear that we can get substantial improvements in payrolls without some additional inflation risk. And in my view, if we're going to have success in creating a long-run, sustainable recovery with lots of job growth, we've got to keep inflation under control. So we've got to look at both of those -- both parts of the mandate as we -- as we choose policy"
http://economix.blogs.nytimes.com/2011/04/28/how-bernanke-answered-your-questions/

Even the biggest monetary doves are now agreeing with Bernanke. Bill Dudley, of the New York Fed, who's been braying for more QE for over a year had the following to say on Wednesday:
Fed's Dudley: If Growth Continues, More Fed Stimulus Unwarranted
The leader of the Federal Reserve Bank of New York repeated Wednesday his expectation that the U.S. central bank will not need to provide additional stimulus to the economy, even as he left the door open to further action.
Acknowledging the options before the central bank each have costs and benefits, New York Fed president William Dudley said "as long as the U.S. economy continues to grow sufficiently fast to cut into the nation's unused economic resources at a meaningful pace, I think the benefits from further action are unlikely to exceed the costs."
http://online.wsj.com/article/BT-CO-20120530-712819.html

Folks if you're buying into the whole QE 3 is coming on June 6th argument you're out of your minds. This is an election year. If the Fed announces QE 3 now, Obama is done. Do you really think this is going to happen when even the Fed's biggest doves are noting that the consequences of QE outweigh the benefits?
With that in mind, Europe will be collapsing as no one (not the ECB, not the IMF, not the ESM, and not even the Fed) will be stepping in to prop it up. The reason? NONE of these entities have the funds (Europe's banking system is $46 trillion in size) to do so (bank runs are pushing leverage levels even higher in Spain, Greece and elsewhere).
Moreover, the political environments for their organizations (the US for the Fed and IMF and Germany for the ECB and ESM) will not permit a massive intervention. If the Fed cranks up the printing press, Obama loses any hope of re-election. If the ECB cranks up the printing press, Germany walks. End of story.

Phoenix Capital Research
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Egr. dott. Barrai pensa che l'oro abbia possibilità di scendere ancora, come da lei detto qualche giorno fa, oppure la sua discesa si sia ormai fermata?
Saluti

Gia',ma i politici hanno questa faccia,credono che quando una cosa la dicono loro, la gente pensa che e' una novita'.Comunque pare abbia fatto marcia indietro sotto consigli e pressioni, ecco perche' i politici stanno al potere anche se c'e' gente che capisce piu' di loro:quest'ultima non si rimanga le cose dopo 2 secondi.

Francesco Carbone di Usemlab continua a dire cose giuste,ma valide per i tempi di pace.Che bello poter idealmente sotterrare una moneta e dopo oltre un secolo , i nipoti poterla spendere con lo stesso potere di acqusto.Fu cosi nel passato.Questa sola cosa e' moralmente edificante.Ma la guerra e' la guerra,devastante in tutto, e noi siamo in guerra da oltre 90 anni.Speriamo che un giorno il mondo possa ispirarsi alla scuola austriaca, cosi' vorra' dire che sara' in pace.

Il Berlusca non è un pirla, semplicemente non è ancora riuscito ad entrare nella stanza dei bottoni e quindi minaccia, manda segnali: "Attenzione, se non mi fate accomodare anche a me alla tavola imbandita io parlo, spiego come funzionano realmente le cose, possiedo tre reti e giornali vari, tutto quello che dico, cazzate o non cazzate che siano lo usano come titoli di giornali e telegiornali. Fate tutto quello che volete ma datemi il giochino anche a me!!!"