{"id":39870,"date":"2016-08-31T09:48:11","date_gmt":"2016-08-31T13:48:11","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=39870"},"modified":"2016-08-31T09:48:11","modified_gmt":"2016-08-31T13:48:11","slug":"why-the-convoluted-message-from-yellen","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2016\/08\/why-the-convoluted-message-from-yellen\/","title":{"rendered":"Why The Convoluted Message From Yellen?"},"content":{"rendered":"<p><strong>By: Gary Tanashian of <a href=\"http:\/\/biiwii.com\/\" target=\"_blank\">Biiwii.com<\/a><\/strong><\/p>\n<p>Why the tough talk out of one side of her mouth and <em>\u2018other policy tools\u2019<\/em> language out of the other (ref. <a href=\"http:\/\/www.wsj.com\/articles\/janet-yellen-lays-out-tools-for-next-recession-fight-1472307123\" target=\"_blank\">Yellen Lays Out Tools<\/a>\u2026 )?\u00a0 Oh, I don\u2019t know.\u00a0 Maybe it has something to do with this\u2026<\/p>\n<p>The stock market has merrily followed money supply aggregates upward since 2009.\u00a0 When money supply decelerates the market corrects.\u00a0 When money supply ramps upward the market ramps upward.\u00a0 Money supply has been rolling over since 2014, which was not coincidentally when the first tremors began for the stock market in its recently completed top (that wasn\u2019t).\u00a0 From <a href=\"http:\/\/slopeofhope.com\/socialtrade\/chart\/editor\" target=\"_blank\">SlopeCharts<\/a>\u2026<\/p>\n<p><a href=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/sp500base.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-49755 size-full\" src=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/sp500base.png?w=840\" alt=\"s&amp;p 500 and monetary base\" width=\"514\" height=\"477\" \/><\/a><\/p>\n<p>But something is out of whack here.\u00a0 Let\u2019s dial in for a closer look.<!--more--><\/p>\n<p><a href=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/sp500base3.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-49756 size-full\" src=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/sp500base3.png?w=840\" alt=\"s&amp;p 500 and monetary base\" width=\"505\" height=\"469\" \/><\/a><\/p>\n<p>When you see pictures like these that are not open to argument, and then you hear a powerful policy maker blabbing on about the strengthening economy and increased chances of a rate hike\u2026 and then you hear her slip in punch lines about <em>\u2018other policy tools\u2019<\/em>, and then you look at a chart like the above\u2026 you laugh in a <em>\u2018what else am I gonna do, cry about it?\u2019<\/em> kind of way and you move forward.<\/p>\n<p>Our policy makers are so transparent as to be funny, like Rosco the Clown\u2026<\/p>\n<p><a href=\"https:\/\/nftrh.files.wordpress.com\/2016\/03\/clowncar.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37720 size-full\" src=\"https:\/\/nftrh.files.wordpress.com\/2016\/03\/clowncar.png?w=840\" alt=\"clown car\" width=\"645\" height=\"260\" \/><\/a><\/p>\n<p>\u2026and scary, like Twisty the Clown.<\/p>\n<p><a href=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/twisty.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-49757 size-full\" src=\"https:\/\/nftrh.files.wordpress.com\/2016\/08\/twisty.png?w=840\" alt=\"Twisty the clown\" width=\"670\" height=\"430\" \/><\/a><\/p>\n<p>Subscribe to <a href=\"https:\/\/nftrh.com\/nftrh-premium\/\" target=\"_blank\">NFTRH Premium<\/a> for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the <a href=\"https:\/\/nftrh.com\/free-eletter\/\" target=\"_blank\">free eLetter<\/a> for an introduction to our work. Or simply keep up to date with plenty of public content at <a href=\"http:\/\/nftrh.com\" target=\"_blank\">NFTRH.com<\/a> and <a href=\"http:\/\/biiwii.com\" target=\"_blank\">Biiwii.com<\/a>. Also, you can follow via Twitter <a href=\"https:\/\/twitter.com\/intent\/follow?original_referer=http%3A%2F%2Fnftrh.com%2Ftestimonials%2F%C2%AEion=follow_link&amp;screen_name=BiiwiiNFTRH&amp;tw_p=followbutton\" target=\"_blank\">@BiiwiiNFTRH<\/a>, <a href=\"http:\/\/stocktwits.com\/nftrh\" target=\"_blank\">StockTwits<\/a> or <a href=\"http:\/\/feeds.feedburner.com\/nftrh\/YDgV\" target=\"_blank\">RSS<\/a>.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By: Gary Tanashian of Biiwii.com Why the tough talk out of one side of her mouth and \u2018other policy tools\u2019 language out of the other (ref. Yellen Lays Out Tools\u2026 )?\u00a0 Oh, I don\u2019t know.\u00a0 Maybe it has something to do with this\u2026 The stock market has merrily followed money supply aggregates upward since 2009.\u00a0 [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1840,7308,4273,5092,4785,5442],"class_list":["post-39870","post","type-post","status-publish","format-standard","hentry","category-general","tag-biiwiicom","tag-federal-reserve-chair-janet-yellen","tag-gary-tanashian","tag-nftrh","tag-notes-from-the-rabbit-hole","tag-the-federal-reserve"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why The Convoluted Message From Yellen? - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2016\/08\/why-the-convoluted-message-from-yellen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why The Convoluted Message From Yellen? - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"By: Gary Tanashian of Biiwii.com Why the tough talk out of one side of her mouth and \u2018other policy tools\u2019 language out of the other (ref. 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