The Fed Is Laughing At You – Literally

Zero Hedge brings us yet another epic article that highlights the fact that the Fed knew all the way back in 2005 that the housing market was getting totally out of hand.

Toss the consumer under the deficit wheel of the bus and laugh about it:

“–I offer one more piece of evidence that I think almost surely suggests that theend is near in this sector. While channel surfing the other night, to the annoyance of my otherwise very patient wife, I came across a new television series on the Discovery Channel entitled “Flip That House.” [Laughter] As far as I could tell, the gist of the show was that with some spackling, a few strategically placed azaleas, and access to a bank, you too could tap into the great real estate wealth machine. It was enough to put even the most ardent believer in market efficiency into existential crisis. [Laughter]

~David Stockton, Dec. 13, 2005, economist and Fed comedian.

Rob the consumer and then toss them under the currency tire and laugh about it:

“Absent a dollar depreciation that’s now probably on the order of 8, 9, or 10 percent, the deficit is going to steadily worsen. If the dollar were to start depreciating, that would slow the rate of deterioration. If the dollar depreciation that we put into the forecast were to get as high as 8 or 9 percent, that might plateau the deficit”.~Johnson

“One thing we can be sure of is that the value of the dollar will be worth 100 cents.” [Laughter]

~Greenspan

Of course, Greenspan and his band of henchmen knew exactly what effects their policy would have ahead of time. Greenspan used to be an ardent advocate of the gold standard, a follower of Ayn Rand, and a fellow Austrian traveler, which means he had to know with total certainty what effects his policies would have.

In the above commentary, we can see that not only did Greenspan fully understand the implications of his policy, but so did his merry band of comedian thieves – and they laughed about it.

They are laughing at you.

The sucker who still believes in the State.

He who laughs last, laughs loudest.

Those associated with the Fed realize they are on a sinking ship and most of us will only throw them a line if an anchor is attached.

Best of luck to them...well, not really. May they all rot in the darkest pits of hell.

Originally posted by bozzchem
He who laughs last, laughs loudest.

Those associated with the Fed realize they are on a sinking ship and most of us will only throw them a line if an anchor is attached.

Best of luck to them...well, not really. May they all rot in the darkest pits of hell.

I've realized in my short time here that the mentioning of faith on ATS can elicit something akin to a backlash, but for me my faith does include a great equaling (I included the above quote because I think it's also what he's referring to). I don't believe that lies can persist to perpetuity, that truth will always prevail and justice is natural to the order of all things. Or in other words...Karma is a bitch!

reply to post by robinmorningstar


The market will put an end to the lies by destroying the currency.

The market always wins in the end.

Just ask the former Soviets.

Originally posted by mnemeth1
reply to post by robinmorningstar

 

The market will put an end to the lies by destroying the currency.

The market always wins in the end.

Just ask the former Soviets.

Sure, I guess that the way that I would look at it more esoterically (just trying to find a word that somewhat describes going outside of conventional thought) is that whatever the mechanisms of equalization, they will inevitably come, and that there might be many such mechanisms all occuring simultaneously, so that when the children of tomorrow look at how the world came back to sanity, the study of that process is as multifaceted as is the study of science and theology today.