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Bernanke Does Senate: Day Two Of The Chairman's Humphrey Hawkins Testimony

Tyler Durden's picture


Bernanke's prepared remarks to Senate in the second day of the bi-annual presentation monetary policy presentation will be identical to those from yesterday. The only difference will come in teh Q&A, which is not so much Q&A as political grandstanding by a bunch of muppets. For those who wish to listen as QE3 is priced in for the third time in as many days, and express other masochistic tendencies, tune in to the C-SPAN webcast below.


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Thu, 07/14/2011 - 10:12 | 1455813 Thisson
Thisson's picture

Are we now at the point where pop music is subtly telling us we should be killing bankers?  You be the judge:

Also the top bookmarked item on my Tumblr:

Here are some of the lyrics

Un, deux, trois
Bang, bang, bang

Feathers, i'm plucking feathers
one by one, by one
no more skylarking, around my head
your information
but there's no hiding, behind moulting feathers

On the plane, on my brain, 'bout to do the sho'
40k contract, take it out the do'
dice, symbolise my life, roll 'em on the flo'
from your grubby hands, as you hand the grand stand
you live a shitty life, we live a bon, bon vie
hotter than the book, while we watch the tv
think you got us fooled, ooh never again
first time, shame on me, second time, your time will end

No way, bang your dead, here's your silhouette
je te plumerai la, tête
je te plumerai la, tête
bang your dead, alouette, here's your silhouette
je te plumerai la, tête
je te plumerai la, tête

No way, no, (the clock) it's ticking forward
no way, it's just a cruel, cruel world

Cruel world is fittin', they got us all hittin'
with late night divisions, and lab app decisions
but based with decisions, to fight a fricassée
and you've clearly decided, on how to handle me
difficile, immbocile, is it fake, is it real
are we dying on our feet, are we trying in our sleep
there's a rumour goin' 'round, 'bout the suits runnin' town
if you look into the sky, them birds fly high, high, high

Numbers, you got that number
you're looking outwards, and don't see the big picture
over your shoulder, you'll get no last words
because it's too late, you've clipped your own wings (your own wings)
No way, bang your dead, here's your silhouette
je te plumerai la, tête...

We're never gonna, believe in, the stories, that you're weavin'
we're never gonna, believe in, the stories, that you're weavin'
we're never gonna, believe in, the stories, that you're weavin'
we're believin' in the proof, we're believin' in the truth
we're believin' in each other, not you, you, you

no one ever does it like that anymore
bang, bang, bang (alouette)
when feathers fly, you deny everything yo

Thu, 07/14/2011 - 10:16 | 1455841 snowball777
snowball777's picture

I prefer the less oblique...

"We gonna rock down to....Electric Avenue..."

Thu, 07/14/2011 - 10:53 | 1456001 TheTmfreak
TheTmfreak's picture

Man when Bernanke is given ANY kind of non soft serve questions he gets really quivery. He is very easily startled. I bet he just loves democrats and their "we love you" "questions."

Thu, 07/14/2011 - 11:21 | 1456130 Manthong
Manthong's picture

I greatly prefer this secret video of elite progressives making monetary policy.

Thu, 07/14/2011 - 11:55 | 1456301 snowball777
snowball777's picture

You think progressives make monetary policy; that's cute.

Thu, 07/14/2011 - 10:09 | 1455814 dbach
dbach's picture

Don't all traders (and even "investors" these days) have masochistic tendencies?

Thu, 07/14/2011 - 10:22 | 1455873 bigdumbnugly
bigdumbnugly's picture

Bernanke's prepared remarks to Senate in the second day of the bi-annual presentation monetary policy presentation will be identical to those from yesterday.


are you sure?  its bveen a whole 24 hours and all...

Thu, 07/14/2011 - 10:10 | 1455817 I Am The Unknow...
I Am The Unknown Comic's picture

Quivering Lips, bitchez!

Thu, 07/14/2011 - 10:16 | 1455839 malikai
malikai's picture

I love this guy. I wish he would lie more!

Thu, 07/14/2011 - 11:24 | 1456147 TheTmfreak
TheTmfreak's picture

At this point as I listen to this, I dislike bernanke less than these moronic democrats attempting to use bernanke for sensational political points.

Thu, 07/14/2011 - 12:37 | 1456480 malikai
malikai's picture

Yea that was pretty funny. They're just a bunch of pandering self-serving asshats who like to hear themselves talk. But I guess that's politics.

Thu, 07/14/2011 - 12:37 | 1456485 trentusa
trentusa's picture

i saw ben's quivering lower lip yest on Sen Maxine's last question about BAC mortgage settlement. Its true hes not a good deer in headlights. Not like Rangel, the best liari ever saw...

Thu, 07/14/2011 - 10:12 | 1455821 Xibalba
Xibalba's picture

He's gonna craaaaaaaaack!

Thu, 07/14/2011 - 10:13 | 1455828 Cash_is_Trash
Cash_is_Trash's picture

Yahweh shall speak to him and tell him to be cool.

Thu, 07/14/2011 - 10:15 | 1455833 Xibalba
Xibalba's picture

Not Yahweh, but Baphomet.  

Thu, 07/14/2011 - 10:16 | 1455843 SMG
SMG's picture


Thu, 07/14/2011 - 10:20 | 1455858 Cash_is_Trash
Cash_is_Trash's picture

Move over Mao, Ben will end more lives than you ever dreamed of!

The Great Print Forward

Thu, 07/14/2011 - 10:19 | 1455851 malikai
malikai's picture

Calm down. He said transitory again. Everything's going to be OK.

Thu, 07/14/2011 - 11:12 | 1456090 Vendetta
Vendetta's picture

Baal speaks to him

Thu, 07/14/2011 - 10:15 | 1455832 Quintus
Quintus's picture

Yeah.  He sounds a bit like someone under a lot of stress.  Someone who might just stop halfway through, say 'Fuck it!' and leave, kicking over some chairs on his way out.  Not a happy chappie at all today.

Thu, 07/14/2011 - 10:16 | 1455840 Xibalba
Xibalba's picture

Like President, like Fed Chairman.  


father and son.  

Thu, 07/14/2011 - 10:20 | 1455859 DonnieD
DonnieD's picture

The role of Fed Chaiman is a kamikaze mission at this point. He knows he's probably going to get lynched at some point in the future.

Thu, 07/14/2011 - 10:23 | 1455879 Cash_is_Trash
Cash_is_Trash's picture

Greenspat should then be hanging by the balls.

The gallows does well -- that frame shall outlive a thousand banksters.

Thu, 07/14/2011 - 12:41 | 1456429 Zero Govt
Zero Govt's picture

I'm not sure anyone has quite 'got' the full gravity of Bernank's statement yesterday amongst all the very valid mockery when Bernank said Gold is not money (God give us strength!!)

I just want to point out this guys job: Chief of the Central Bank of America

Yes just a small trivial point, Bernanke is the Chief of Americas Central Bank and this fuking tool does not understand, or blatently lied in public yesterday to Ron Paul, that Gold is not money and Central Banks only hold the stuff out of "tradition"!

Is this moron making this stuff up as he goes along? Has any minute of any Central Bank in history ever stated they hold Gold for "tradition" or will buy more Gold or sell their Gold because of "tradition"?? This statement is from outer space, away with the fairies, complete LaLa Land!!!

Every Central Banker in the World will either be pissing his pants or slapping his forhead while swearing profusely... or calling Doctors to go and check on Bernanks mental health

Pray if Gold is not money then can Ben clarify what the fuck he thinks is???

Any 'normal' central banker would be out on his bloody arse TODAY having painted himself into a corner with the most moronic of statement of any Banker in the history of moronic Central Bankers. 

Bernank is toast, we can only guess at the hysteria behind the scenes yesterday as Bernanke came off-stage!... he will be gone before year end, they'll make it look like 'retiring' but yesterday the midget muppet lost the plot and signed his suicide note

Thu, 07/14/2011 - 12:44 | 1456514 JohnG
JohnG's picture

Two "sort of" opposing views:

(so we could have legions of monks pounding eagles into gold leaf....)

What "sort of" worries me is this portion of yesterdays Casey Report interview:

"DG: Yet, historically gold and interest rates and inflation all tend to move up together. Not to get all tangled up, but if interest rates in the U.S. move up and the dollar starts to strengthen, shouldn’t gold then start moving down? But again, that's not the historic case.

TC: It’s not as tangled as you think. The answer you are going to come to for gold depends on what is causing interest rates to move up. If interest rates are moving up because the expectation of inflation is moving up, then that won't hurt gold, it will help gold. On the other hand, if interest rates are moving up because the Federal Reserve is tightening, then that is bad for almost everything that people have been borrowing to buy, which includes gold and silver and stocks generally."


So the dollar price may change, the value won't, but I am unconvinced that the market will know the difference.

Thu, 07/14/2011 - 13:05 | 1456594 JohnG
JohnG's picture

Oops! Forgot:

I own gold because IT IS money.


Thu, 07/14/2011 - 15:03 | 1457016 Zero Govt
Zero Govt's picture

Gold is money is a matter of fact. It has been money for pretty much every society in the World and for thousands of years dating back to the Pharoahs

For any Central Banker to make such an ignorant statement, especially one coming from the Chief of Americas Central Bank, is quite beyond credulity... was this guy 'Ben' drafted in from kindergarten and given the job yesterday??? 

...look at his face after the Ron Paul grilling.. i think he knows he just signed his suicide note

J.P. Morgan, "Gold is money, everything else is credit."

Right now i can assure you the establishment are scheming up ways to wheel this crone away over the next few months without raising public suspicions Bernank is absolutely dead in the water as a central banker of any standing/intelligence ...i'm also certain his statement will top every list of most stupid quotes made by central bankers in history

Ben Bernanke RIP (Wed 13th July, 2011)

Thu, 07/14/2011 - 10:12 | 1455822 Cash_is_Trash
Cash_is_Trash's picture

Who says it passes 1,600 before the end of questioning?

I do, bitchez

Thu, 07/14/2011 - 10:14 | 1455830 I Am The Unknow...
I Am The Unknown Comic's picture

1,599  I say, and then watch the Furies and Flying Monkeys unleashed

Thu, 07/14/2011 - 10:12 | 1455823 Quintus
Quintus's picture

He's only started reading his prepared testimony and he already sounds nervous.  Maybe he's concerned that he may be on the receiving end of some more questioning regarding the nature of money.

Thu, 07/14/2011 - 10:15 | 1455836 sabra1
sabra1's picture

Bernank: "i meant to say that if you hold gold in the USA it's not real money because it will be confiscated and taxed at 60%. but, if you keep your gold as i do outside the USA, then you keep full value"!

Thu, 07/14/2011 - 10:16 | 1455838 InconvenientCou...
InconvenientCounterParty's picture

"The only difference will come in teh Q&A, which is not so much Q&A as political grandstanding by a bunch of muppets."

nailed it.

Ron Paul didn't do much to differentiate himself.

He's got a fascination with gold that seems to go beyond finance into self gratification. I wonder how many cretins he would throw to the lions for one gold coin?

Thu, 07/14/2011 - 10:51 | 1455992 Beau Tox
Beau Tox's picture

Cretin; I would throw a single one of YOU to the lions for ONE gold coin.

Thu, 07/14/2011 - 11:39 | 1456223 MrPike
MrPike's picture

I would throw him to the lions for free..

Thu, 07/14/2011 - 10:16 | 1455842 I Am The Unknow...
I Am The Unknown Comic's picture

Q: Why does The Bernankster wear gym shorts in the shower? 

A: Because he doesn't like to look down on the unemployed.  


Thu, 07/14/2011 - 10:17 | 1455845 SheepDog-One
SheepDog-One's picture

I wouldnt be surprised to hear Bernank downplay QE today to put a lid on PM's.

Thu, 07/14/2011 - 10:19 | 1455855 Sudden Debt
Sudden Debt's picture

could very well be.

No QE's anymore in 2011 and poof.

I would like to see that actually :)

but on the otherhand, PM's will go up will go up just because of the debtceiling increase.


Thu, 07/14/2011 - 10:22 | 1455876 SheepDog-One
SheepDog-One's picture

Really in a bind here, they have to do QE and debt ceiling raise, and also cant do it. Sucks to be them I guess.

Thu, 07/14/2011 - 12:48 | 1456525 JohnG
JohnG's picture

Never feel sorry for the man with the plane.

Thu, 07/14/2011 - 10:47 | 1455974 SheepDog-One
SheepDog-One's picture

And there it is. Backing off on QE, says it may be there at some point in the future if need be blah blah.

Pretty interesting how their careful BS engineering higher of the house of cards at each level those underneath get rebuilt, and the equities never fall. Just gold, silver, dollars, but never stocks.

Thu, 07/14/2011 - 11:00 | 1456033 I Am The Unknow...
I Am The Unknown Comic's picture

Good call SD-1.  I just traded that and have a morningwood boner.  Might just call it a day and kick off early today and see if I can find Obama (and Nicole Simpson's killer) out on the golf course. 

This shit can be fun if I can keep first and foremost in my mind that it is all a big fucking manipulation to encourage volitility so that banksters can make more money churning.  

Thu, 07/14/2011 - 10:17 | 1455846 Fix It Again Timmy
Fix It Again Timmy's picture

Sometimes it is better to remain a professor and therefore thought to be intelligent rather than entering the real world and removing all doubt about that illusion....

Thu, 07/14/2011 - 10:17 | 1455847 Sudden Debt
Sudden Debt's picture

So silver at 42$ today whenever he starts to speak...



Thu, 07/14/2011 - 10:17 | 1455848 sabra1
sabra1's picture

Bernank: "i meant to say that if you hold gold in the USA it's not real money because it will be confiscated and taxed at 60%. but, if you keep your gold as i do outside the USA, then you keep full value"!

Thu, 07/14/2011 - 11:39 | 1456226 Marco
Marco's picture

It will have full value outside of the US, but if they decide they want to tax you when you re-import it or goods bought with it they can still get their 40% ... unless you have enough gold to buy yourself a tax holiday.

Thu, 07/14/2011 - 10:19 | 1455852 ThoughtCriminal
ThoughtCriminal's picture

Outsource CONgress, then round up the banksters

Thu, 07/14/2011 - 10:22 | 1455874 snowball777
snowball777's picture

They're already working for multinational corps.

Thu, 07/14/2011 - 10:35 | 1455918 ThoughtCriminal
ThoughtCriminal's picture

Oh, agents of foreign powers?!

Arrest CONgress at once!

Thu, 07/14/2011 - 10:22 | 1455860 Problem Is
Problem Is's picture

Nice dyed rug comb over job, Shelby...

You worthless, bribed, bankster puppet bitch...

The US Senate
No greater collection of senile, worthless, corrupt old white men on planet earth...

Thu, 07/14/2011 - 10:41 | 1455953 Bay of Pigs
Bay of Pigs's picture

Shelby: "Tell us what's wrong with everything. So we aren't going to have a robust economy?"

This guy is out of it. Send him to the old folks home. He's all done.

Thu, 07/14/2011 - 11:08 | 1456075 SoNH80
SoNH80's picture

Shelby = faux-folksy cracker tool

Frank = faux-intellectual fudge packer tool

Schumer = schmuck on wheels tool

They all suck, every last one of them, except for Ron Paul.

Fri, 07/15/2011 - 02:21 | 1458549 Problem Is
Problem Is's picture

"Cracker tool"... LOL... permission to use that one...

Shmucky Schumer... My all time favorite Madoff campaign bribe taker...

Travelled all the way to the Lip-Dick building to give a rousing Schmuck-Speech at BMIS...

Probably showed Shana Madoff his Weiner by the water cooler...

After all, Schmucky IS Weiner's mentor...

Thu, 07/14/2011 - 10:20 | 1455861 WoodMizer
WoodMizer's picture

Taking odds on the Bernak drinking Vodka vs. water?

He his Poker face is failing GS gave him lockjaw.

Thu, 07/14/2011 - 10:20 | 1455863 alien-IQ
alien-IQ's picture

anybody doubt that the USD will go into free fall when Von Havenstein resumes speaking?

Thu, 07/14/2011 - 10:27 | 1455890 snowball777
snowball777's picture

+++ LOL

Thu, 07/14/2011 - 10:22 | 1455866 monopoly
monopoly's picture

Tyler, unless you are giving a test at the end of the QA period I think I will pass. Hate to waste electricity on useless dribble.

Thu, 07/14/2011 - 10:27 | 1455888 SheepDog-One
SheepDog-One's picture

Again Bernank states 'The FED stands by should conditions deteriorate' blah giddy markets price in free Hefty bags of crack rocks however many times over. 

Well at least we can find some total certainties such as sanity has clearly left the building.

Thu, 07/14/2011 - 10:40 | 1455947 sabra1
sabra1's picture

QE3 is here in the form of statements and thoughts only. words get better results than HFT's!

Thu, 07/14/2011 - 10:28 | 1455891 props2009
props2009's picture

Interesting chart: College grades keep rising.

Thu, 07/14/2011 - 10:34 | 1455915 Long-John-Silver
Long-John-Silver's picture

Attention whores are ugly. If you can't post something on topic how about not posting at all.

Thu, 07/14/2011 - 11:15 | 1456107 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Like how the Senators keep talking about the debt ceiling instead of asking Bernanke, oh, I don't know, why we loaned the Bank of Libya billions, or how POMO operations work, oor why he does not understand what his best performing asset does for the Fed's balance sheet.

Thu, 07/14/2011 - 10:28 | 1455894 euphoria
euphoria's picture

QE 3 is on bitches. 

Thu, 07/14/2011 - 10:33 | 1455909 Arttrader
Arttrader's picture

5 mins ago from the Bernanke "since we WILL NOT BE BUYING NEW SECURITIES".  Somebody hold him to this statement!  We'll see.

Thu, 07/14/2011 - 10:59 | 1456030 SheepDog-One
SheepDog-One's picture

Just proves how meaningless all this sophomoric jawboning really is! No ones ever held to what they say at the Sadie Hawkins dance or Humphrey Hawkins jawbone session or whatever theyre called.

Thu, 07/14/2011 - 10:29 | 1455897 Sandy15
Sandy15's picture

OMG, this congressman is reading this info??  He sounds like a 4th grader reading.......

Thu, 07/14/2011 - 10:32 | 1455906 rubearish10
rubearish10's picture

It's the required education level for our leaders!

Thu, 07/14/2011 - 10:35 | 1455919 SRV - ES339
SRV - ES339's picture

No worries... he's just the Chairman of the Senate Finance Committee... maybe he's having trouble reading Lloyd's writing!

Thu, 07/14/2011 - 10:49 | 1455985 RobD
RobD's picture

The guy had a stroke a few years ago, so he is even more imparied then the average Senator.

Thu, 07/14/2011 - 10:30 | 1455898 digalert
digalert's picture

The Bernank still has that bewildered Lloyd Blankfein "what do you mean?" looks, makes you want to smack him.

Thu, 07/14/2011 - 10:32 | 1455904 Long-John-Silver
Long-John-Silver's picture

I've seen this show before. It's script recycling with better CG. I know how it all ends so I think I'll pass.

Thu, 07/14/2011 - 10:32 | 1455908 Milton Waddams
Milton Waddams's picture

With all due respect to the Senator, but why is there someone with serious brain damage chairing the Senate Banking Comittee?  The question is rhetorical of course..

Thu, 07/14/2011 - 10:37 | 1455930 WoodMizer
WoodMizer's picture

Big fish in the South Dakota pond.

Thu, 07/14/2011 - 10:38 | 1455936 Long-John-Silver
Long-John-Silver's picture

This must be used as evidence that term limits should be imposed.

Thu, 07/14/2011 - 10:36 | 1455922 Arttrader
Arttrader's picture

The Bernanke just said default may destroy the confidence the world has in the security of US treasuries.  A little late for that, isn't it.  Confidence is not the reason China holds them.  UST= investment of last resort.

Thu, 07/14/2011 - 10:41 | 1455949 Bastiat
Bastiat's picture

Ya think, Bennie?  Default does tend to have that effect.

Thu, 07/14/2011 - 10:39 | 1455935 MachoMan
MachoMan's picture

Every time I see him after his tradition comment, I can't help but to think of this from fiddler on the roof:

I'm just waiting for all the clowns (fielding questions, asking questions, and those staring at their shoes/everyone else in attendance) to break out into song and dance.  TRADITION!

Thu, 07/14/2011 - 10:42 | 1455957 rdenner
rdenner's picture

Senator: Should we continue building palace after palace for the rich.. Or help build houses for the poor???




Senator: Very good....


History of the World Part I..... Why didn't Mel make Part II   ... Bastard...

Thu, 07/14/2011 - 10:44 | 1455958 I Am The Unknow...
I Am The Unknown Comic's picture

....aaaannnnd it looks like here begins the day raid on silver.   This shit is getting wonderfully predictable! 

After all, SLV puts expire tomorrow and we all know JPM has to get that price down.

Thu, 07/14/2011 - 11:25 | 1456150 Vendetta
Vendetta's picture


Thu, 07/14/2011 - 10:49 | 1455984 SheepDog-One
SheepDog-One's picture

Bernank backs off on QE, PM's take a hit, but equities stay right where they are. 'QE' lets pop it 100 points....'No QE' lets pop it another 50. What a puppet show.

Thu, 07/14/2011 - 10:51 | 1455991 Arttrader
Arttrader's picture

Wow - Pat Toomey is bringing it to the Treasury and the Fed.  The Bernanke and Timmy need to change their undies!

Thu, 07/14/2011 - 10:52 | 1455997 SheepDog-One
SheepDog-One's picture

'Oh, that QE thing I said yesterday? Oh yea, NOW I remember....well that was just a 'what-if worst case scenario type thingy....we certainly didnt put it out there to get priced into EQUITIES or mash down the DOLLAR or anything'!

Thu, 07/14/2011 - 11:15 | 1456103 hazek
hazek's picture

Hahahaha n1

Thu, 07/14/2011 - 10:54 | 1456007 Arttrader
Arttrader's picture

Bernanke:  "The Federal Reserve has a mandate".  Isn't there a dual mandate?


Thu, 07/14/2011 - 10:54 | 1456008 inkarri9
inkarri9's picture

I thought Ben said that QE did not put money into the economy?  They just posted an explanation in that blue bar saying that $600B was added to the economy through QE.  Did anyone else catch that?


Thu, 07/14/2011 - 10:56 | 1456012 SheepDog-One
SheepDog-One's picture

Yes but you have to be looking at it thru the FED's eyes, 'the economy' means their own pockets.

Thu, 07/14/2011 - 10:55 | 1456011 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

All these damn Senetors are talking about is the debt ceiling.  How about monetizing the debt?  Ask Bernanke how he flips bonds to PDs and then accept them back within days, you blowhards know-nothings.  How the hell did all these people get elected?

Thu, 07/14/2011 - 10:56 | 1456016 SheepDog-One
SheepDog-One's picture

Bunch of fluffers.

Thu, 07/14/2011 - 11:03 | 1456038 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I think Kirk just implied he would pull a Jeff Gannon if Bernanke bailed Illinois out like Europe will Italia.

Thu, 07/14/2011 - 11:03 | 1456041 Bay of Pigs
Bay of Pigs's picture

I think Akaka just passed away.....oh wait, he's just napping. Time to change his Depends too.

Thu, 07/14/2011 - 11:06 | 1456057 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I want to know who let the girl chewing gum in the room.  She must be an aid, because she was sitting behind Kirk.  I mean, chewing gum?  Really?  No one told her to not chew gum in the Senate?  I don't think anyone is taking this seriously.

Thu, 07/14/2011 - 11:14 | 1456099 SoNH80
SoNH80's picture

It's Warshington, Dee Cee.  Spartanburg, S.C. is a shining beacon of high culture by comparison.

Thu, 07/14/2011 - 11:34 | 1456196 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Corker will no longer fluff Bernanke!

Thu, 07/14/2011 - 11:28 | 1456164 Vendetta
Vendetta's picture

"How the hell did all these people get elected?"

The political system is filled with politicians who are selected by the parties as interchangeable parts on a globalism engine.  Only choices, except for a scant few, are exact replicas of whomever they might replace.

Thu, 07/14/2011 - 10:59 | 1456029 Sandy15
Sandy15's picture

Did someone wake up the senator from Hawaii before he started speaking?  Geez these guys are terrible.........    Only Toomey asked hard questions so far.

Thu, 07/14/2011 - 11:07 | 1456066 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I think Kohl did, too.  Recess for nap time!

Thu, 07/14/2011 - 11:03 | 1456042 MrBinkeyWhat
MrBinkeyWhat's picture

I live in Alabama, and I am sorry to admit that Shelby is "mine". On the "plus" side, so is Lew Rockwell.

Thu, 07/14/2011 - 11:25 | 1456149 SoNH80
SoNH80's picture

Shelby is no Heflin, not by a long shot.

Thu, 07/14/2011 - 11:06 | 1456058 realitybiter
realitybiter's picture

The subprime loan situation is contained.


Housing has never fallen broadly across the nation.  I don't buy the premise.


I was just helping that sheep over the fence.  Honest.

Thu, 07/14/2011 - 11:06 | 1456059 WoodMizer
WoodMizer's picture

The more the Bernak waxes bout angels and pinheads, the more equities slip.

The emperors birthday suit is getting noticed.

Thu, 07/14/2011 - 11:09 | 1456078 Sandy15
Sandy15's picture

The Bernack, "Last jobless recoveries was in the 90's"........uh, wasn't that when Dems where in charge of the House, Senate and WH.  Republicans came in and changed it for business.

Thu, 07/14/2011 - 11:10 | 1456081 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

In other news, Liz Warren is testifying in the House.  About anything of relevance I am not sure.  What a disappointment she has been, but I guess I should not have had hopes for the Hawvawd Prof.

Thu, 07/14/2011 - 11:11 | 1456085 Bay of Pigs
Bay of Pigs's picture

Oh look, here comes Herb Kohl. Now we'll get some tough questions. They don't take any shit in Wisconsin.


Thu, 07/14/2011 - 11:11 | 1456087 Hikapo
Hikapo's picture qe3 please.

Thu, 07/14/2011 - 11:18 | 1456119 inkarri9
inkarri9's picture

Technical difficulty??  Hmmmm....

Thu, 07/14/2011 - 11:18 | 1456121 Dreadker
Dreadker's picture

OMG a senator just told Bernanke that its MATHS!!!  Bernanke is boned now lol

Thu, 07/14/2011 - 11:19 | 1456125 I am Jobe
I am Jobe's picture

hari kari baby. Ben needs a sword to fall upon.

Thu, 07/14/2011 - 11:20 | 1456129 entendance
Thu, 07/14/2011 - 11:21 | 1456137 Dreadker
Dreadker's picture

Haha - "we're in the 21st century now chairman" lol he's cracking

Thu, 07/14/2011 - 11:23 | 1456144 I Am The Unknow...
I Am The Unknown Comic's picture

Aaaaand on topic, here's a good clip starring Bruce Willis as "The American People" The Bernankster as "The Gimp" and can you spot Jamie and Lloyd in this clip?

I thought it would bring comic relief to the testimony...

"...mmmm, mmmh, mmmh, my bernankster"

Thu, 07/14/2011 - 11:28 | 1456163 Arttrader
Arttrader's picture

Michael Bennet (D) Colorado.  "If we've driven this car over the cliff" sounds strangely similar to Obama's "The economy is like a car and the Republicans have driven it into a ditch.  You put the car in "R" if you want to go in reverse.  If you want to move forward, put it in "D".  D for douche.

Thu, 07/14/2011 - 11:42 | 1456178 John McCloy
John McCloy's picture

Always easy to decipher why a puppet is speaking pro banking, spending , MAD rhetoric when you look at the contributors. For example Blackstone #2 contributor to Bennet

Thu, 07/14/2011 - 11:35 | 1456200 WoodMizer
WoodMizer's picture

Clip the FED's wings; use a 10 ga. side by side.

Thu, 07/14/2011 - 11:35 | 1456201 John McCloy
John McCloy's picture

Menedez one of the most captured lovers of The Fed. I can already tell you before he begins he is going to congratulate and ask for more "Assistance" to prevent a depression.

Thu, 07/14/2011 - 11:38 | 1456220 Arttrader
Arttrader's picture

Menendez (D) New Jersey

"Given 2 wars raging (unpaid for) and a Wall Street that was not a free market, but a free-for-all market.  Classic!"

Thu, 07/14/2011 - 11:40 | 1456230 Sandy15
Sandy15's picture

Menendez from NJ is an idiot......... READ history and real numbers, we are in a depression.  Policies of the administration, FED, etc has made it worse.  We would have had a better outcome if every person got 17K.  Government would have gotten tax revenues off it.  Sheeple would have purchased tech stuff, others would have purchased gold, silver, guns and food.

Thu, 07/14/2011 - 11:51 | 1456281 TheTmfreak
TheTmfreak's picture

At first when he started talking i was like ok maybe he isn't as big of a moron. By the end, I was like this fucker is beyond belief stupid.

Profits being a new entitlement class? Either a complete and total lunatic or just a political shill.

Thu, 07/14/2011 - 11:40 | 1456233 Bohemian Clubber
Bohemian Clubber's picture

Am just 30 and i'm loosing all my hair with all this shit.

Thu, 07/14/2011 - 11:45 | 1456253 WoodMizer
WoodMizer's picture

Preaching to the choir; everyone in charge refuses to do anything but wax pathetic.

Thu, 07/14/2011 - 11:54 | 1456296 TheTmfreak
TheTmfreak's picture

Corkers statements were about the only thing worth listening to thus far. Whether or not he is just trying to play the "role" of being above it all, I don't know, don't care. But his statements were certainly true.

Thu, 07/14/2011 - 11:58 | 1456317 realitybiter
realitybiter's picture



Corker sounds reasonable and rational.

Strangely, he is one of a minority of Senators that has actually ran a business outside of the FIRE industry.  

Weird how getting a law degree (to avoid Vietnam, primarily), a stint as a city council member or staffer, and then this or that public office hasn't prepared 805 of these retards for obvious common sense policy.

Thu, 07/14/2011 - 11:44 | 1456246 KickIce
KickIce's picture

Shouldn't the title read Bernanke and Senate does America, again?

Thu, 07/14/2011 - 11:51 | 1456278 walküre
walküre's picture

That Wildebeest pic would be quite fitting today.

Thu, 07/14/2011 - 11:57 | 1456298 buzzsaw99
buzzsaw99's picture

I keep hearing that horrible cereal noise in the background.

Thu, 07/14/2011 - 11:59 | 1456319 ArrestBobRubin
ArrestBobRubin's picture

Bennie's got a corner on stupid.

Thu, 07/14/2011 - 12:05 | 1456345 YesWeKahn
YesWeKahn's picture

Sorry, I just can't watch or listen to Ben the idiot.

Thu, 07/14/2011 - 12:08 | 1456351 Caveman93
Caveman93's picture

Long rope...short Treasuries.

Thu, 07/14/2011 - 12:08 | 1456353 wang
wang's picture

here comes sChumer

Thu, 07/14/2011 - 12:17 | 1456399 realitybiter
realitybiter's picture

grab your barf bag

Thu, 07/14/2011 - 12:11 | 1456367 jointhewave
jointhewave's picture

Watch the YouTube Video 'Global Debt Crisis & WW3!'


In my opinion, we are months away from a false flag terror event...

Thu, 07/14/2011 - 12:12 | 1456377 candyman
candyman's picture

Is the real reason Ben says "spending cuts to derail the economy" because of his failed other words he is covering his ass.

Thu, 07/14/2011 - 12:15 | 1456387 I Am The Unknow...
I Am The Unknown Comic's picture

China get paid first!  Old people second!  You got that roundeye?

Thu, 07/14/2011 - 12:17 | 1456396 Bay of Pigs
Bay of Pigs's picture

Schumer clearly wants a big raise in the debt ceiling to kick it out until 2013.

On the other hand, it's nice to see he admitted to being blindfolded and walking towards the cliff. 

Thu, 07/14/2011 - 12:17 | 1456398 Eagle Keeper
Eagle Keeper's picture

Nice. The Bernank's last answer was to confirm that their priority was to put China over US Citizens! 

Thu, 07/14/2011 - 12:21 | 1456414 RobD
RobD's picture

He also had a hard time admitting that the FED is right up there with China as biggest holders.

Thu, 07/14/2011 - 12:21 | 1456413 Eric Cartman
Eric Cartman's picture

Q: What is the difference between a Demarcate and a Republican? 
A: About $500 million dollars in the national budget and a few fetuses!

Thu, 07/14/2011 - 12:27 | 1456435 YesWeKahn
YesWeKahn's picture

Does this idiot still have any credibility left?

Thu, 07/14/2011 - 12:34 | 1456467 dbTX
dbTX's picture

"Does this idiot still have any credibility left?"


Not on display today.

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