7 votes

Debut: Janet Yellen / Federal Reserve News Conference

Live on CSPAN at 2:30pm ET
www.c-span.org/live

NEW YORK (MarketWatch) — U.S. stocks were generally flat on Wednesday as investors remained on sidelines ahead of the policy announcement from the FOMC meeting and a news conference by Federal Reserve Chairwoman Janet Yellen.

The Fed is expected to continue tapering the bond-buying program at a pace of $10 billion a month, though there might be changes to the way it targets unemployment and inflation.

Live market reaction:

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Michael Nystrom's picture

There is an ultimate reality: Price.

Wow - that was really boring!

Ultimately, her words don't matter. Just a bunch of blah, blah, blah.

What ultimately matters is how the markets interpret those words. That is the basis of technical analysis: That all the aggregated wisdom and opinions of all the market players and non players are distilled down to a single number. Price.

What matters most is the prices of the three assets depicted in the three charts above: The Dow, The Dollar and Gold.

I have no doubt that the Fed and the USG can manipulate the markets, but they can't do it forever. I don't believe they can. The market is bigger than any individual player, including the Fed & USG, even if they combine their considerable powers.

The debt bubble has grown so big, so massive, that eventually it has to pop. And when it does, there will be hell to pay. I know everyone has been saying it forever - that the crash is coming - and it is taking its own sweet time. To the point where people are starting to doubt that the implosion will ever come.

Why did I bother listening to Janet Yellen today? Because it was her first press conference. This is a changing of the guard. Changings of the Guard are always fraught with peril, because there is the chance that something could go wrong.

The Fed is all a confidence game. A con game. Once the jig is up, there will be no putting it back together again.

The market took a dump today. Gold fell, and the dollar rose. How will Ms. Yellen respond? If nothing else, this is a test for her - for her leadership.

Whether this little drop today is just a speed bump, or the start of something bigger remains to be seen. But whatever you do, don't take your eyes off the ball.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

So there is very little

So there is very little connection between inflation, government debt, and the value of gold.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

True. Very little. Until there is one:

True.

Very little.

Until there is one:

http://archive.lewrockwell.com/orig13/hewitt-m1.1.1.html

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I am talking about the US

I am talking about the US situation. The US dollar. Which is not convertible currency.

You can literally see that there is no connection between the prices, money supply, government spending, etc.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

Well, as I've pointed out, when we do the math:

Well, as I've pointed out, when we do the math:

http://www.dailypaul.com/144648#comment-3363719

... we're on par to see our dear central planners needing almost a decade (2008 - 2017) to inject counterfeit money into the markets just "to keep the economy going".

What does that tell us?

How long will it take to "heal" that thing after its next crisis? (coz' "we never know", right?)

Two decades? Three?

Longer?

"Ô Temps ! Suspends ton vol, et vous, heures propices !
Suspendez votre cours :
Laissez-nous savourer les rapides délices
Des plus beaux de nos jours !"

http://poemsintranslation.blogspot.com/2010/04/lamartine-lak...

"Suspend your Trek O Time! Suspend your flight
O favoring hours, and stay !
Let us pause, savoring the quick delight
That fills the dearest days !"

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

There is an ultimate reality: dots.

The commenters at marketwatch seem unimpressed as well http://blogs.marketwatch.com/capitolreport/2014/03/19/live-b...

To think - you could've watched 'Pinky & the Brain' instead...

Don't feed the pandas. Ever.

Michael Nystrom's picture

In the future I can have my robot watch Pinky

In the meantime, I'm hungry.

CNBC is also yapping about how she "screwed up" and "caused" the market to crash.

Moral of the story: NEVER TALK ABOUT DOTS!

Just eat them. That's what they're for.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Ben-Yellen

LoLoL!

Geezus Christ...

Is Yellen American-born or a daulie?

If you don't know your rights, you don't have any.

Hillarious

I just spit beer all over my windshield!

see - this is why you should never drink and drive...

you might hit a bump and spill your beer - and that's called alcohol abuse my friend.

Don't feed the pandas. Ever.

Title Correction

Live Stream: Janet Yellen / Federal Reserve News Conference

Sewage Stream: Janet Yellen / Federal Reserve News Conference

"Inflation well below our target"

Wonder where Janet shops?

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

Michael Nystrom's picture

Not at Whole Foods!

I can tell you that much.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
Michael Nystrom's picture

Taking questions now...

.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

So if rates

remain at zero until end of 2014, and rates finally start to rize by end of 2015, will we still see no increase to bank rates (such as CD's) for another 2 years? tired of earning only 1%, makes more sense to just buy collectables at the moment than to horde my cash (though I guess that is the intent?)

Michael Nystrom's picture

There is no way of knowing

Markets rarely do what they're 'supposed' to do.

Keep your eyes peeled.

The Fed doesn't really control interest rates. That is more MSM BS. The Fed follows the market - it doesn't set rates. The market is already pushing up rates on the 10 year:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?s...

- - -

But to your point, yes, probably. Because the Fed doesn't want you "hoarding" your money in the bank. They want you to be terrified of losing your purchasing power to inflation so that you'll spend it. Your words indicate that their plan is working:

tired of earning only 1%

Invest in real estate! Invest in beanie babies! Buy stocks! Get that money out moving around in the economy. That is what the Fed wants.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

I've been investing in fine

I've been investing in fine art for about 20% of my portfolio. Not big on stocks. More prefer safe bets like CD's, but I figure with art at least if I like it and it doesn't earn value, I have something to look at.

Michael Nystrom's picture

Party time!


http://youtu.be/iO6VpLeMOVE

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Bump +1

The market go BOOM!

Is English your native

Is English your native language? I see a lot of incorrect grammar in your posts.

The correct grammar is "The market GOES Boom."

Thank You.

Wow.

Dick of the Year over here....

If you don't know your rights, you don't have any.

no being a dick is letting it

no being a dick is letting it happen over an over again

You're Welcome!

Boom!

Michael Nystrom's picture

The Dow just fell out of bed

Can't even get to kitco.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
Cyril's picture

1,331 Au, 20.60 Ag (APMEX bid)

APMEX small chart last updated 2:18pm EST shows all four PMs Au, Ag, Pt, Pd still pushed down, Au 1,331, Ag 20.60, etc.

The retracement seemingly goes on.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Michael Nystrom's picture

Thanks!

Still can't get through to kitco. But I found these charts, from Urban Survival:

Another $10B taper. The dollar is catching a bid. They have to be worried about a dollar collapse... They've got to slow it down on the pumping...

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.