Fed’s Fisher Admits Stocks Are At ‘Eye-Popping Levels’

Fed’s Fisher Admits Stocks Are At “Eye-Popping Levels” /ZeroHedge, March 6, 2014):

While Janet Yellen fell back on the ubiquitous central banker statement that she “would do all that [she] can” it was Dallas Fed’s Richard Fisher who raised the most eyebrows yesterday. In a speech in Mexico City, the central banker said he was concerned about “eye-popping levels” of some stock market metrics warning that the Fed must monitor the signs carefully to ensure bubbles were not forming. While other Fed members have paid lip-service to bubbles, Fisher explicitly discussed stocks in the context of the dot-com boom of the late ’90s warning of “the ghost of ‘irrational exuberance'” and worried about corporate bonds too.

Via Fox,

In his speech in Mexico City, Fisher said some indicators like the price-to-projected forward earnings, price-to-sales ratios and market capitalization as a percentage of GDP, are at levels not seen since the dot-com boom of the late 1990s.

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Fukushima Fallout: Japanese Fishing Boats Catch Radioactive Rockfish

Fukushima fallout: Japanese fishing co-op catches radiated rockfish (Voice of Russia, Feb 28, 2014):

Japan’s agriculture minister on Friday said that fish caught off the coast of Fukushima prefecture showed radiation levels above the country’s accepted limit.

“The Yumekasago type of fish caught for testing purposes had radiation levels above the allowed limit. Simple tests showed the amount of caesium was 112 becquerels per kilogram and detailed analysis showed 110 becquerels (per kilogram),” said minister of agriculture, forestry and fisheries, Yoshimasa Hayashi in a regular news conference.

Yumekasago is a type of rockfish found around the Far East, ranging from Japan to southern China.┬áJapan’s limit is 100 becquerels per kilogram.

The fishing cooperative in Iwaki city, Fukushima prefecture was surprised as they did not expect to find radiation in the fish, according to a representative from the Japanese media. The cooperative has suspended all shipments of the rockfish.

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Dallas Federal Reserve Bank President Richard Fisher: US Approaching Insolvency

The United States is on a fiscal path towards insolvency and policymakers are at a “tipping point,” a Federal Reserve official said on Tuesday.

“If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. “The short-term negotiations are very important, I look at this as a tipping point.”

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