-------- Original Message --------
| Subject: | Fed President Evans: "Labor Market Is Consistent With Recession… We Are In Liquidity Trap" |
|---|---|
| Date: | Tue, 30 Aug 2011 05:26:15 -0700 |
| From: | Jas Jain |
Fed President Evans: "Labor Market Is Consistent With Recession… We Are In Liquidity Trap"
He means the current labor market conditions of 9%+ unemployment rate. If we go back 11 years we have lost jobs during that period while the population has grown by 10%. That, ladies and gentlemen, is depression. But, worse is yet to come, lot worse, as in Greater Depression. Deflationary depression is unavoidable and the US Treasuries have a lot more to go, lower yields and higher prices.
He also admitted that we are in a liquidity trap, i.e., the Fed policyy has been rendered impotent. Only those who are ignorant of how the economy functions could be made to believe that the Fed gets the outcome it desires in terms of economic growth and employment. Manipulations of the Fed, other than strict focus on price stability and sound money, create lot of volatility and not much else.
Evans, like Hoenig, is lot more honest than Bernanke & Co. He was interviewed by CNBC's Liesman.
JasUS Treasury Rate Quotes
Current U.S. Treasury Rates
| | COUPON | MATURITY | PRICE/YIELD |
|---|---|---|---|
| 3-Month | 0.000 | 12/01/2011 | 0.00 / -0.01 |
| 6-Month | 0.000 | 03/01/2012 | 0.04 / 0.04 |
| 12-Month | 0.000 | 08/23/2012 | 0.09 / 0.09 |
| 2-Year | 0.125 | 08/31/2013 | 99-27¾ / 0.19 |
| 3-Year | 0.500 | 08/15/2014 | 100-17¾ / 0.31 |
| 5-Year | 1.000 | 08/31/2016 | 100-13½ / 0.91 |
| 7-Year | 1.500 | 08/31/2018 | 99-30+ / 1.51 |
| 10-Year | 2.125 | 08/15/2021 | 99-18+ / 2.17 |
| 30-Year | 3.750 | 08/15/2041 | 104-12 / 3.51 |
Posts
1 comment:
Bill Gross’s Horrible Record and Mia Culpa
7:03 AM
That is the big news on CNBC this morning. He is #501 out of 507 bond fund managers. Guess how much he gets paid for this record? He has also admitted to his mistake on the US Treasury bonds. He has been wrong on Treasuries for years; the mia culpa is way too late. As you know, I have been advising to not listen to Mr. Gross. The same applies to Warren Buffett. Both are dope dealers (in propaganda business) and born-and-bred American dopes.
The single biggest handicap in understanding the US economy, the political system, and the future of America is being a born-and-bred American. Why? The extreme prejudice in favor of his, or her, identity. All his, or her, life a born-and-bred American is subjected to pandering by self-serving dope dealers. And it shows. The Age of Propaganda has sealed America’s fate by breeding irremediable dopes.
Bill Gross is a parasite and people like him have been sucking financial blood out of the economy.
Jas
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