• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Ben Bernanke: Economic Recovery May Not Be Self-Sustaining, May Buy More Bonds Depending On Inflation

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Sun, 12/05/2010 - 20:26 | 780389 David99
David99's picture

Ben is a mad guy. Should be in the hospital for rest of his life.

Sun, 12/05/2010 - 21:31 | 780673 VegasBob
VegasBob's picture

No, Bernokio is a shifty-eyed goddamn liar (with apologies to Harry S Truman, who used this terminology to describe Tricky Dick Nixon).  If his nose grew a foot for every lie he told in the interview excerpt, it would be dragging on the floor.

Bernokio is someone who should be tried for economic treason against the US, convicted, and hanged.  And plenty of other banksters should follow him to the gallows.

Sun, 12/05/2010 - 21:53 | 780743 B9K9
B9K9's picture

How can Ben be tried for treason since he was working under direct consent from the other 3 branches of government? When will people begin to realize that the USG was, and has always been, the central player in this saga?

Think 5, 10, 25, 100, 1,000 bankers stood to profit? Try 1, 2, 5 million federal, state & county employees, not to mention the massive welfare program known as the MIC. Wake up! This has always been about preserving the power in which the government had garnered on their own behalf for their own benefit.

But, remember, there isn't any reason to get all worked-up & emotional about these events; tyrannies require vast resources. But the 2nd law (entropy) dictates that diminishing returns doom all efforts. So just kick back and watch as nature bats clean-up.

There is no way to jump start the present economic model without some amazing new energy source. It isn't sufficient to merely have adequate fossil fuel resources for 50, 100,  250+ years. No, what we need is something that can handle a 5-10% CAGR ie that which would cover the Ponzi's accumulated debts. (Including $100+ trillion of promised, but unfunded, future benefits.)

Where is this amazing resource? Sorry, fellas, but it doesn't exist. Ben's little game, played on behalf of those so utterly dependent on his success, was simply a means of extending closing time until maybe a cute chick finally walked through the door.

Sun, 12/05/2010 - 22:37 | 780906 anonnn
anonnn's picture

...no way to jump start the present economic model without some amazing new energy source."...

Truth?

Unfairness begets chaos.

Mon, 12/06/2010 - 00:50 | 781233 JLee2027
JLee2027's picture

Treason is treason. Doesn't matter who authorized it.

Mon, 12/06/2010 - 01:47 | 781326 Minion
Minion's picture

I'm starting to wonder if Ben is regretting taking the job in the first place.  He's just a minion like all of us.  He's a front man for someone else.

Mon, 12/06/2010 - 01:58 | 781334 cosmictrainwreck
cosmictrainwreck's picture

Oh, I have no doubt he regrets it, but probably got an offer he couldn't refuse...cleverly disguised as fame & fortune & the corridors of power. Poor bastard is stuck now, though, ain't he? Well, I guess he could quit, but sadly those wound as tight as he is usually blow their brains out.

Mon, 12/06/2010 - 02:33 | 781365 UninterestedObserver
UninterestedObserver's picture

Yup and if he is is right handed he will shoot himself with the left while drowning in a bathtub filled with an inch of water... damn suiciders

Sun, 12/05/2010 - 21:35 | 780693 Herd Redirectio...
Herd Redirection Committee's picture

Zimbabwe Ben is a g*ddamn Psycho, is what he is.  He is worried about the dangers of 'not acting', what, like, bankruptcy?  Taking risks, and having those risks backfire should entail some kind of risk/reward.  If there is no risk (i.e. TBTF get bailed out) then we are rewarding failure!  This encourages fraud!  He will destroy the US dollar.  We just have to make sure that Ben and his cabal of friends ARE NOT the ones we allow to institute a new currency when this is all over!

A return to Sound Money!

Read our latest PsychoNews story: "Funny Money, Manic Markets, and Obsolete Media"

"Senator Bernie Sanders from Vermont delivered an amazing speech in the Senate on December 2nd that was right on the money in regards to the problems America (and by extension, the world) faces.

To quote:

"There is a war going on, and I'm not referring to the war in Iraq and Afghanistan"

"Against the disappearing and shrinking middle class of this country."

"Their [billionaires/Oligarchy] greed has no end"

"[there seems to be] very little concern for the people if it gets in the way of accumulating more and more power"

"top 1% of all earners earn 23% of all the income in this country"

"Exxon made $19 billion last year and paid $0 in taxes.  They got a refund..."
(12 minutes into video)

Sounds like Senator Bernie Sanders has been reading PsychoNews! 

http://psychonews.site90.net

Sun, 12/05/2010 - 23:49 | 781108 Rider
Rider's picture

A hospital with bars you mean?

Sun, 12/05/2010 - 23:50 | 781110 Rider
Rider's picture

...

Mon, 12/06/2010 - 00:39 | 781205 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Wasnt this the real 60 minutes interview with Ben?

http://www.youtube.com/watch?v=5_dH3GjyVLc

Mon, 12/06/2010 - 01:31 | 781264 Thanatos
Thanatos's picture

You are right.

Can you see his facial ticks get going. His mouth quivering.

Those are the kind of responses you see from a person who knows its all over but has to "keep up appearances".

Thanks for the good stuff ZH.

Sun, 12/05/2010 - 20:30 | 780395 Racer
Racer's picture

A: It doesn’t seem likely that we’ll have a double dip recession

Quote: Sub prime... well contained... NOT

Sun, 12/05/2010 - 20:30 | 780401 RobotTrader
RobotTrader's picture

The insufferable, condescending Bob Brinker is predicting spectacular stock market performance based on a 1 - 2 year extension of the Bush tax cuts.

Says the naysaying short sellers have been riding on Don Gibson's "Sea of Heartbreak"..

Interest rates remain at "rock bottom levels"..

LOL...

About 7 minutes into the broadcast...

http://vaca.bayradio.com/kgo_archives/01400.mp3

Sun, 12/05/2010 - 20:58 | 780550 cosmictrainwreck
cosmictrainwreck's picture

Robo - you're getting cryptic on me - I'm getting confused! What do I dooo? Oh, lawdy, what do i dooo?

Sun, 12/05/2010 - 21:05 | 780572 Hulk
Hulk's picture

Bob gave great advice and led many to the land of "critical mass" in normal times, but he is a bit lost now, crisis of 08 caught him completely by surprise...

But he is essentially telling folks the same thing you tell them, which is don't fight the fed, which is good advice...

Sun, 12/05/2010 - 22:04 | 780777 billhilly
billhilly's picture

Hey Robut, where are those futures charts(posted so gloriously on an earlier thread) NOW?

Sun, 12/05/2010 - 22:28 | 780871 Miles Kendig
Miles Kendig's picture

All the more reason to go long COH & GUCG :)

Sun, 12/05/2010 - 22:55 | 780966 Dr o love
Dr o love's picture

This is the same Mr. Brinker that was bullish all the way from S&P 1550 to 666.  ALL the way down.

Sun, 12/05/2010 - 20:30 | 780402 scatterbrains
scatterbrains's picture

Did I miss the part where he suggested he may have to do more ?

 

Sun, 12/05/2010 - 20:41 | 780463 asteroids
asteroids's picture

I thought Ben was going to cry or piss his pants. His lips were trembling. For a man 100% confident... Nice suit though.

Sun, 12/05/2010 - 20:53 | 780526 Jones79
Jones79's picture

i thought he looked a lot worse during the first 60 minutes interview.  more composed this time but not wholly confidence-inspiring despite his 100% level.

Sun, 12/05/2010 - 21:53 | 780642 Whats that smell
Whats that smell's picture

I noticed that also. He did not have a very strong demeanor.

 

Anyone else see this?

 

http://www.youtube.com/watch?v=2N8gJSMoOJc&feature=player_embedded

Mon, 12/06/2010 - 02:15 | 781356 trillionaire
trillionaire's picture

I didn't pay much attention to what he was saying because I knew I would be able to read / view it again later.  I paid attention to his appearance and mannerisms and I am very scared.  His lips were quivering, he stuttered on saying "inflation" (I think) and his hair and beard were trimmed to perfection, a well polished turd indeed.

Mon, 12/06/2010 - 05:21 | 781515 ViewfromUnderth...
ViewfromUndertheBridge's picture

Hey, don't insult Turds...

Sun, 12/05/2010 - 20:30 | 780405 rosiescenario
rosiescenario's picture

Hope the public tunes in and realizes this guy is clueless...

Sun, 12/05/2010 - 20:43 | 780479 Max Hunter
Max Hunter's picture

LMAO... You're funny

Sun, 12/05/2010 - 20:31 | 780408 samseau
samseau's picture

So wait...

"a recovery that isn't self-sustaining"

let me think about this, in terms of logic....

*looks up what a double-negative is*

hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

 

 

isn't a recovery that isn't self-sustaining just doublespeak for

 

"not recovering"?

Sun, 12/05/2010 - 20:39 | 780452 LeBalance
LeBalance's picture

Attempt at logical conclusion detected!

Sending MIB team and Rendition Team ASAP!

ETA 20 minutes.

Glad we caught that one!

Sun, 12/05/2010 - 23:10 | 780884 Miles Kendig
Miles Kendig's picture

An observable absence of absence doesn't quantify an absolute absence of absence, or an implied absence of near or medium term moderation of absence absent quantifiable or qualifiable absenceism - Jean-Claude Trichet's notes on his planned 60 minutes interview

This absence of logic simply cannot be equaled, let alone bettered.  So let not his absence of sense be questioned...

Cheers Hedgie & make sure that MIB helicopter is a sky crane for that flying long short bus pick up in Brussels

http://www.youtube.com/watch?v=6QX7F72FT1c

Sun, 12/05/2010 - 20:43 | 780470 Billy Shears
Billy Shears's picture

double plus, good!

 

Sun, 12/05/2010 - 20:58 | 780546 CheapKUNGFU
CheapKUNGFU's picture

errrr, ummm, a negative X (times) a negative is surely a positve

havent you been practicing your CAPTCHA math?

Even Robo has figured that equation out

Sun, 12/05/2010 - 20:32 | 780410 Shameful
Shameful's picture

I'll give it to Ben he sure is not afraid to go into public and tell whoppers.  Unemployment is education based?  Tell that to the college kids with student loans and no jobs.  Buying securities is not money printing,then why not buy ALL Treasuries issued? Hell he probably will at some point and self reference this interview.

I guess can't be surprised.  Man lies under oath in Congress and gets away with it, so why the hell not!

Sun, 12/05/2010 - 20:44 | 780482 Caviar Emptor
Caviar Emptor's picture

Hehe. He was using that to skirt the question about income disparity. He didn't want to talk about 'Trickle Down'.

Sun, 12/05/2010 - 20:53 | 780524 Phineas Gage
Phineas Gage's picture

Exactly.  I expected soft journalism, but that was absurd.

Sun, 12/05/2010 - 21:00 | 780560 Bastiat
Bastiat's picture

Only "trickle down" happening involves Bennie's pantleg . . . and it ain't nothin nice.

Sun, 12/05/2010 - 21:12 | 780605 Caviar Emptor
Caviar Emptor's picture

Right! He won't take any responsibility for the effects of his policy. That's all Congress's headaches. I just print the bills and count de money, man. 

Sun, 12/05/2010 - 20:50 | 780508 Phineas Gage
Phineas Gage's picture

When I heard his response to the income disparity question I got annoyed.  The appropriate rebuttal to the dodge should have been "I didn't ask you about unemployment, I asked you about income disparity.  Aren't your policies benefiting a small percentage of the population disproportionately?"

Sun, 12/05/2010 - 21:32 | 780680 SRV - ES339
SRV - ES339's picture

That would be journalism... there is a law against that now, isn't there!

Mon, 12/06/2010 - 05:24 | 781518 ViewfromUnderth...
ViewfromUndertheBridge's picture

Well, calls for assassination are maybe not the law but...

Sun, 12/05/2010 - 21:26 | 780658 DarkMath
DarkMath's picture

"Unemployment is education based?"

Translation: If you're a blue collar worker who relied on any sort of domestic manufacturing then Ben Bernanke wishes you would just die already and take yourself out of the gene pool because you're not supposed to still be here now goddamit. All you factory workers should have gotten your degrees of the University of Phoenix online and invented a new Facebook app already. Fuck you if you didn't. It's not Ben Bernanke's fault your can't feed your family anymore. Sorry.

"Buying securities is not money printing"

This one really confused me. He seems to still be stuck on the previous QE where they just increased bank reserves which technically didn't show up in M2. But not anymore. Every dollar he buys of US Treasuries show up in M2. Right? I mean he creates money out of thin air, buys US Treasury Debt and allows the production of Food Stamps which can be taken down to the Walmart to purchase real goods. Am I right here? What am I missing. Did Ben Bernanke just fucking lie on national television?

 

 

Sun, 12/05/2010 - 22:28 | 780870 bob_dabolina
bob_dabolina's picture

He didn't "lie"

He didn't "print" the money he "created" the money by adding numbers digitally here and there. 

 

Sun, 12/05/2010 - 23:01 | 780981 dbach
dbach's picture

lol exactly! that bugged me too. benny's arguing semantics there. the reporter should have asked where did those $600B come from? they need to do a follow up report where we can send in questions for them to ask the bankster.

Mon, 12/06/2010 - 02:17 | 781358 merehuman
merehuman's picture

Any bartender would have done a better interview with or without the barnacle

Sun, 12/05/2010 - 22:29 | 780881 Captain Benny
Captain Benny's picture

I know a person holding a > $200k jobs without a college education.  Lets call him Oddball.  Well Mr Oddball says that you can't look at simple statistics to determine the ability for one to succeed in business.  Many of those that do not attend college and graduate are not because they are uneducated, instead it is because they may be uneducatable.  Or they may have financial problems preventing a college education.  Or they may have family situations that require more attention (think mentally ill sibling) than what they'd be able to do when attending college.

Mr Oddball had no reason not to finish college.  He just decided that it wasn't right for him and went on his marry way doing other things in life and striving for what he wanted to accomplish. What does Mr Oddball think about Ben Bernanke's comment?

"Bullshit.  The guy is a clear psychopath with no grasp on the basic statistics of formal education and employment.  He should assign some of the statistical turds down on Maiden Lane to write a paper with a really complex title revealing how ignorant he is.  But psychopaths don't use logic to make decisions."

Sun, 12/05/2010 - 22:49 | 780946 Shameful
Shameful's picture

My best friend makes a great living without a degree, because he has a marketable skill. He routinely busts on me for not making as much as him even thought I got my "education" at a sanctioned American school.

Ben is dancing. My take away on that phrase is "Go back to school and take on student loan debt". Problem is everyone graduates eventually or amass so much debt that even Uncle Sugar thinks you are a bad risk. Again I know people 200k+ in for student loans without any real job prospects. Might come out and be lucky to get 30k a year.

Sun, 12/05/2010 - 23:24 | 781043 Maiden Lane
Maiden Lane's picture

I don't want him either :)

Sun, 12/05/2010 - 20:32 | 780413 dantes1807
dantes1807's picture

The whole problem with Ben Bernanke and the banks is that banks should not be taking risks. Prudent underwriting means good collateral, borrower's equity, and personal liability against the borrower. Bankers were happy to play games before because they didn't get stuck with the hot potato. Now that they are being forced to take on underwriting risk, they are not going to make these poor loans.

Sun, 12/05/2010 - 20:46 | 780494 Billy Shears
Billy Shears's picture

Yeah it seems now that the moral hazard issue is no longer academic and TBTF has been enshrined by the Fed and the Feds they have cold feet and want to take their ball home. Crazy banksters!

 

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