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Thursday, June 18, 2009

Mortgage Lift Off: Checkmate Bernanke

FN: This is a really important development if it doesn't immediately reverse... and I mean immediately things will get ugly quickly.

Tyler Durden over at Zero Hedge caught the disaster with pretty pictures in We Have Mortgage Lift Off.

This may have something to do with the fact that the Fed just drained the liquidity swamp some today. Karl Denninger over at the Market Ticker has all the gory details in Fedwatch.

Bernanke is stuck and he doesn't have many options left.


Anonymous said...

Game, set, match.

Dave Narby said...

Yes, but what does this mean for equities? I'm a tard when it comes to bonds (other than if people buy bonds, they can't buy other instruments, and vice versa)...

Anonymous said...

There is a rumour circulating that equities will take a crap in order to prop up bond prices.

Anonymous said...

A theory being put forth by the rumor mill is that the Fed is draining liquidity to provoke an equities sell off/mini crash so there is a move into bonds so that the Fed can sell low all that debt that will never be paid in full. O r so I read somewhere in blogland

Tord Steiro said...

I just saw that some of my other news services claimed that US stocks where bouncing on good macro numbers and 'surprising numbers' regarding the industrial output in philly.

And further that this where pulling Europe up.

I am still not an expert on this, but this do sound slike a bunch of BS to me. Any comments?

Will good or surprising macro numbers, if that is what they where, be able to extendwhat I see as an inevitable drop in the near future?

Anonymous said...

Obama is just like Chance the Gardner in the movie Being There.
Obama having never left the public dole, wonders through life saying strange and vacuous stuff, which many other dumb people perceive as profound and important! All the while bumbling along believing in his own simplistic reality and ignorance.

Our economy is screwed!

Doug said...

Maybe the economy is doing better.

I was at the mall for lunch and it was packed. Soccer moms everywhere buying anything they could get their chubby little fingers on.

The line for Iphones was 1/4 mile long.

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