Morning Coffee: Economic & Earnings Calendar for September 14, 2012

Posted on September 14, 2012


Yesterday Ben Bernanke did what I previously thought was unlikely, he initiated another round of quantitative easing or QE3.  He said this is a main street policy. My initial reaction to this was that I did not see how removing mortgage-backed securities from bank balance sheets would help the labor market. After pondering this I now realize that the Fed is not trying to create jobs, they are trying to save them by keeping non-farm payrolls from going negative in the short-term. In other words, he is using intervening in a free market in trying to avoid recession.

Recession is a natural part of the business cycle, in my opinion using unnatural intervention to extend a business cycle will eventually result in what would be the 3rd straight crash landing of this century at some point. When is the big question.

As always, respect your capital, protect your capital, and keep your head in the game. Today’s economic calendar is below.

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All times EST.

Today’s Global Economic Calendar
05:00 AM European Union EMU: Harmonized Index of Consumer Prices Up 0.4% MoM; Down 2.6%
08:30 AM US Flag US: Consumer Price Index  
08:30 AM US Flag US: Retail Sales  
08:30 AM Canadian Flag Canada: Manufacturing Sales  
09:15 AM USA Flag US: Industrial Production  
09:55 AM USA Flag US: Consumer Sentiment  
10:00 AM USA Flag US: Business Inventories  

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No notable earnings announcements today.

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Posted in: Morning Coffee