Thursday, February 11, 2010

What the Federal Reserve and Seattle Security Guards Have in Common

After Fed Chairman Helicopter Ben spoke on Wednesday, investors were again confused about the direction the Fed is leading them. There was a lot of talk (Joe Seattle Security Guards into their walkie talkies), but not a lot of action, (Joe security guards, watching while the poor girl's head was getting stomped on) and seemingly not even a plan of action for the future. (Joe Seattle Transit General Manager Kevin Desmond, who said the security guards were not trained for combat, but might be in the future) Indeed, the Fed and Seattle Security Guards have a lot in common.
  • Both stand still as beatings happen right in front of their eyes
  • Both have names that are misleading
  • Both appear to the uneducated/unsuspecting sheeple as if they're performing a service
  • Both are condoning criminal behavior
  • Both turn their backs on the little guy
  • Both are siphoning public money
  • Both should be immediately closed down and thrown in jail
Investors were looking for more information regarding the Fed's exit strategy from so-called "quantitative easing" or easy and cheap monetary policies. Security Guards all over Seattle are also looking for an exit strategy, or a rock behind which to hide, or a hole in which to jump.......where they'll have to be careful not to trip over other Seattle Security Guards (Joe oxymoron) who may have found the best hiding places first.

Moving on, since the market dropped 80 points after Helicopter Ben's speech, could it be that the market actually wants a rate increase? Could it be that investors are "Fed" up with the Fed coddling big banks and blowing asset and debt bubbles? YES! The Fed is creating a win-win-win for big banks, giving them cheap money with which to chase high yield bonds at no risk because we keep bailing out failing institutions. They're off the hook with taxpayer freebies so why not chase high risk bonds. (Greece, Portugal, Ireland, Spain, etc) For more depth on a previous post, click here.

And speaking of debt bubbles, where are the credit rating services when you need them? (I don't know Joe, where were the Seattle Security Guards when you need them?) Yes, these same credit rating agencies that stood by as subprime mortgages were getting sliced up and sold all over the world with AAA ratings. The same credit agencies that told us Bear Stearns had plenty of liquidity weeks before they crashed. Yes, these agencies that are supposed to protect us are again turning their backs as bubbles are getting blown all around us.

What does this mean for Joe? Joe, who is currently trying to get JoAnn to settle down with him in Joetown, reminded JoAnn that there has never been a head stomping incident in bus terminals in Joetown -never mind the fact that there are no bus terminals in Joetown, OH. Regardless, Joe also informed JoAnn that he'd never behave cowardly like a Seattle Security Guard and watch while 15 year old girls get their heads stomped in bus terminals. Indeed, Joetown is a safe place. Seattle apparently is not - not only do you have to worry about the Federal unReserve Banking Cartel and blind credit agencies, but ALSO head stompers and defunct security agencies.
Artwork courtesy of Deesillustration.com.

5 comments:

  1. Very interesting story! I like the photo you used too.

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  2. I wonder when will this bubble end?

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  3. Karen, this bubble will end very soon because this economy is sick. We keep treating the symptoms instead of the cause. Sometimes you need to just get some good rest instead of over-medicating. We have a sick patient that we're not allowing to heal because it's drowning in its own medicine. Too many untrained pharmacists!

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  4. ha ha, good stuff Joeshareholder. Once again, you combine humor with facts.

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