Hello, maybe bank reserves are the problem, not the solution?

I don't think I've ever seen Jeff Snider shake his damn head: Tbills are the very best collateral in repo and the Fed has decided to lock them up

This is going to be highly . . . educational, but the Fed will still flunk out in the end.

When aiming your gun at the ground, make sure your foot is not in the way when you pull the trigger.

Welcome back to the same stupid shit: Quantitative Easing, Round IV, with a half twist back flip

The long-promised balance sheet unwind stopped in early September, never getting it even remotely close to pre-Great Financial Crisis levels. Maturing securities then began to be used to purchase more of the same again, increasing the balance sheet, as plainly shown in the graph.

Now that will get even worse as the Fed begins buying $60 billion a month outright in new Treasury securities on top of this reinvesting of maturing securities. The Fed claims this is not QE because they're only going to buy Treasury Bills, not longer dated Notes. Money market rates, where many investors had parked lots of cash to take advantage of better returns than they could get on long dated securities, have already fallen. Now there will be no place left to get any decent return without tying up your money for ten years paying 1.76% and thirty years just 2.22%.

Thanks for nothing Trump! 

 

The FOMC voted unanimously to begin to purchase Treasury bills at an initial pace of about $60 billion per month starting Tuesday. The purchases will last at least into the second quarter of next year.

Read more here. 

Black coffee drinkers are more likely to have psychotic tendencies

The lawyers suck because their PROFESSORS are even worse

Claire Thomas is director of something called the Asylum Clinic at New York Law School

Smith is at DOJ, is adjunct at George Washington and George Mason Law, was a John McCain staffer

Washington Watcher II puts some lipstick on the Trump immigration pig

Trump is up against a 21st-century nullification movement. Trump does, of course, have options. As A.W. Morgan wrote recently, Trump could assert his authority as the executive, a co-equal branch of government, defy Congress and the kritarchs, and arrest sanctuary officials on federal obstruction of justice charges. He can’t enforce law, as is his duty, if judges and state and localities block him at every turn. ... Because of inexplicable staffing decisions, Trump’s foes now often work for him, with the inevitable result. The most recent Homeland Security chiefs—Kirstjen Nielsen and Kevin McAleenan— both privately oppose immigration patriotism. Both have proven inadequate. In other words, it’s Trump vs. the entire  Ruling Class.

No. In other words we have a president who is not serious. Just like the rest of the country.

Read it all here.

1992 NATURE rejection letter to current Nobel winner ended with an incomplete sentence

The same journal which went on to publish Michael Mann's climate hockey stick paper in 1998, which made past warming and cooling both disappear.

The world will end with neither a bang nor a whimper, but with gibberish.

 

 

Why you can't say "Good morning" to a liberal

He ain't up yet.

Fredo's so dumb he can't even SPELL hers

Beto's on a meeshun frum Gad

Greta Thunberg passed over for Nobel Peace Prize

"Believe in something, even if it means losing everything" (except your Nike shoe profits, right Steve Cur?)

Type 59 main battle tank deployed vs. Chinese civilians 1989

Type 56 assault rifle used vs. Chinese civilians 1989

Goddess of Democracy

Tiananmen Square protest for freedom 1989

Product of globalist liberalism, Steve Kowtow Cur is upset about American AR-15s, not Chinese tanks

Islamic Jihad assassinated his father in 1984 with pistols.

Fredo Cuomo homo is a long, long way from Veni vidi vici

Beto O'Rourke, candidate of the Gay Mafia, would take away tax exempt status of churches over SSM

We have 50 nukes at Incirlik Air Base, but why waste them on anybody else?

ESPN kowtows to China, reproduces China map with 9 dash line claim in South China Sea which International Court of Justice ruled against in July 2016

An international tribunal in The Hague delivered a sweeping rebuke on Tuesday of China’s behavior in the South China Sea, including its construction of artificial islands, and found that its expansive claim to sovereignty over the waters had no legal basis. 

More here.

Elizabeth Warren is now the Democrat frontrunner, by 0.2 points nationally

Way better than 0.0009765, otherwise known as 1/1024th!

All you need to know about impeachment: Attorney for whistleblower who lied, worked for Clapper who lied

Hillary spotted lurking among the 2020 Democrat candidates for president