Five Out Of Five Economists Agree: QE3 Is Coming

Faber, Roach, Rosenberg, Roubini and Shilling...

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Source - WSJ

How’d you spend your weekend? Some of the biggest (and most bearish) guns in economic and market prognostication put their heads together at a small confab on Lake Winnipesaukee in New Hampshire this past weekend. In attendance: David Blanchflower, formerly of the Monetary Policy Committee of the Bank of England; Swiss doom-and-gloomer Marc Faber; Fred Hickey, the bearish editor of the High-Tech Strategist newsletter; Morgan Stanley exec Stephen Roach; and economic forecasters David Rosenberg, Nouriel Roubini and Gary Shilling.

The conversations were spirited with lots of debates. The consensus was quite pessimistic about the outlook for the US and global economies.

Everyone seemed to agree that the Fed would most likely leave the federal funds rate at zero for a long time and that a third round of quantitative easing is likely later this year. David Blanchflower, who is a former member of the MPC of the BoE, is in favor of QE-3.0. The rest of us were against it. Most agreed that it would probably boost stock and commodity prices again, though not as much as QE-2.0.

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[DailyBail]

SAN FRANCISCO (MarketWatch) — Shoppers paid 4% more for a basket of 16 food items at the supermarket in May compared to February, the American Farm Bureau Federation said Thursday in its latest informal survey.

The total average cost of 16 items used to prepare one or more meals was $51.17, up $2.10 from the previous survey, with sirlion tip roast, russet potatoes, sliced deli ham and bacon increasing the most in price.

http://www.marketwatch.com/story/food-prices-climb-further-at-grocery-stores-2011-06-09?dist=afterbell

[DailyBail]

SAN FRANCISCO (MarketWatch) — Corn futures and stocks in agricultural companies rallied Thursday after the U.S. Department of Agriculture forecast tighter supplies, as poor weather hurt crop production.

Corn futures for July delivery C1N +2.62% gained 22 cents, or 2.8%, to settle at $7.86 per bushel on the Chicago Board of Trade, after touching $7.94. Prices have more than doubled in the last year as demand for livestock feed and ethanol biofuel continue to grow.

http://www.marketwatch.com/story/corn-futures-rise-after-usda-cuts-crop-outlook-2011-06-09?dist=afterbell

[DailyBail]

WASHINGTON – The entire top echelon of Newt Gingrich's presidential campaign resigned on Thursday, a stunning mass exodus that left his bid for the Republican nomination in tatters. Gingrich publicly shrugged off the defections, vowing defiantly to remain a candidate.

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[DailyBail]

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[DailyBail]

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[DailyBail]

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[DailyBail]

Kadhafi ordered sex drugs for Libya rapes: prosecutor

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[DailyBail]

Once in a blue lobster

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[DailyBail]

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great story...

[DailyBail]

Sarah Palin film to get nationwide release

http://www.politico.com/news/stories/0611/56634.html

directed by ex-goldman banker

[Texas Dar]

Im afraid DB it will be the straw that breaks the American Peoples Back........

[ios]

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