Last week the Fed bought over $10 billion of the $32 billion in Treasury purchases it is aiming for this month. FCBs were also net buyers, but were selling GSE paper. Their reductions in GSE holdings have now reached $100 billion since mid August. This is bad news, and has gone unreported in the mainstream…
Tag Archive for Mainstream Media
Liquidity Trader Complete
We Don’t Need No Stinkin’ QE2
by Lee Adler • • 0 Comments
The Fed increased the monthly QL1.5 (Quantitative Leveling 1.5) purchase quota to $32 billion from $27 billion as predicted by yours truly in the Fed Report. That means an average of roughly $7.25 billion per week. We don’t need no stinking QE2. Look out above. The only operation this week will be on Friday, settling…
Take My Stock Please
WTF?
by AGs Nightmare •
No, this is not a fake headline. This has been making the rounds on a lot of blogs and finally hit the mainstream media. I have been trying to figure out why we still need QE 2 and this just answered my question. There is no rule of law left in the ba…
Economics, Housing
The Trouble With Case Shiller
by Lee Adler • • 0 Comments
The mainstream media wasted hours reporting on and analyzing the Case Shiller Housing Index today. Did even one pundit mention what’s wrong with the Case Shiller data? If Dow Jones used the methodology to report the Dow Industrials that Standard and Poors uses to construct the Case Shiller Index (CSI) the Dow would be reported…
Liquidity Trader Complete, Professional Edition
Seeing What They Want To See- Professional Edition
by Lee Adler • • 0 Comments
The tax data for the month of July is now complete and it shows an economy that has not grown at all since July of last year, thanks to a sharp slowdown this July. It’s clear now that the government, including the Fed, was caught flatfooted by this slowing. We were not because we steadfastly…
Economics
How Durable the Economic Goods
by Lee Adler • • 1 Comment
Economists touted today’s manufactured goods gains as the linchpin of the economic recovery. Considering that manufacturing accounts for only 11% of the US economy, and durable goods is about half of that, that’s hanging a lot on this one sector. Is there any reason for bullishness on this?
Latest Business Headlines, Liquidity Trader Complete
Tax Revenues Plunge Again, More Supply Ahead- Professional Edition
by Lee Adler • • 0 Comments
The Fed’s balance sheet shrank again last week as it settled only a couple billion in securities purchases which wasn’t enough to offset declining levels of alphabet soup. The Treasury market got whacked by big supply. Even though bid covers were strong, buyers wanted higher yields as they bought into the economic recovery story, which…
Housing
We Got It Right, Wall Street Media Gets It Wrong
by Lee Adler • • 3 Comments
A few of us were reminiscing this weekend over on the Stool Pigeons Wire about certain calls on the housing market made by yours truly back in mid decade, the biggest one being that I sold my house in Florida in June of 2005–actually April, with a June closing. Sold it myself in fact, by…
Economics, Latest Business Headlines
What They Don’t Tell You
by Lee Adler • • 9 Comments
There are 2 points I’d like to make about today’s economic data. The Bureau of Labor BS released the official unemployment rate this morning. It was 7.6%, which is bad enough. The first point I want to make is that what they don’t emphasize is that the real unemployment rate is 15.4%. This rate includes…
