This page has been archived and commenting is disabled.
Same prepared remarks, different audience, identical theater. Watch the full thing live and commercial free here (CSPAN).
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Testy Money did you say?
ORI
http://aadivaahan,wordpress.com
From your blog. Very interesting comments. I was thinking about "shallow" self reflections on the way to my office this morning and then what do I see but someone else thinking the same thoughts. Karma connection.
I kept reading comments yesterday that Bernanke was really looking like shit. I finally saw a pic of him giving testimony yesterday on the internet, and he looks just as shitty as he always has. Am I missing something?
Yes, meth and hookers
Well, here we go again... market going up exponentially prior to the show.... Tyler, where is the deer picture?
HAHAHAHAHAHAHA +1000
"They" are desperate to move the S&P above the 50 dma. They failed yesterday, they are trying again today. When there is an agenda behind certain daily moves, reality and the market are strangers.
S&P 1088-90 is the line in the sand today. Gotta move above it with strength. Since it took a huge leap just to get there, and they are there as of this post, it will be interesting to see if "party pooper Ben" has an effect today.
+1
They scored with a stunning example of market manipulation and ramping on so-so (LEI) to bad news (housing starts and unemployment). Now let's see if they can keep the levitation steady as she goes.
http://www.youtube.com/watch?v=opIL3Yt0Un8
Drugs (of any kind).......don't do it, don't do it.
http://www.youtube.com/watch?v=EWjteKYxIM8&feature=related
But... but... I gotsta have me another hit of QE... just one more, man, I swear I'll quit after one more... really... c'mon, dude, I know you're holding...
Bernanke: "I'm holding all right........you, by your blue balls."
vix < 25 ... just one word... straddles
im sure his minders coached him not to spoil another beautiful rally of the their glorious market
I wonder if Benron is going to leave his trading iPad in reach of the grandkids like he did during yesterday's 'reality TV' appearance.
Not after he came home and busted them I-Dosing to his econ-euphoria track.
http://www.youtube.com/watch?v=qVJDe5q5eh8&feature=related
As long as we have Mr. Mel "I like to dip my balls into the banker's Federal Reserve Notes" Watt chair of this committee, we can just change the channel of this "hearing".
Thank God, Allah, Budda, etc. for Ron Paul.
ron rips him a new one. go ron...
Wow, ben looks like sloppy seconds this morning (sorry couldn't resist).
Trouble in the land of the Ph.D's?
From my sexist male perspective, I've never ever considered a male to be capable of being a sloppy second. That shows the world how Neanderthal I am. :>)
BTW what just happened to Gold? Or maybe I should say, looks like they're beating the shit out of the dollar to ramp the market......again.
Cd, your thinking is consistent with that of ALL the males i have ever known.
Good thing neanderthals are amusing :)
Give us a little nookie every now and then, pat us on the head constantly because of our insatiable need for reassurance, make sure we shower at least once a week and you have a somewhat house broken Neanderthal. :>)
I wonder what the current 50 dma for nookie is by married and single.
Depends on whether the married in question has a significant other(s) .
USA, Employed, married, one partner: .07
Banker, Employed, married, zoosexual: 2.6
You forgot to add after the nookie, tell us that it was great and that we have a big penis.
LOL
That was all covered under the "pat us on the head constantly because of our insatiable need for reassurance" item. But you're welcome to be more specific. Just let me leave the room first. :>)
Katie - look - sush with yer carpin and bitchin. Look - Da man speaks and the markit is up 150. Money talks- bs walks OK . QED.
As the bond market gets lulled into a deflationary mindset and endless ZIRP - all it will take is for oil to go to 90-100-and beyond for inflation to make a raging appearance. Core inflation has been running above 2% already. Wont take much - or much time - for sentiment to turn 180 on the inflation question.
Tyler,
Same prepared remarks, different audience, identical theater(Agree)But,
Those late night Q&A preparations with his wife are certainly taking their toll on poor Ben.
His facial appearance looks much worse than yesterday's session,surely eCONomic conditions could not have deteriorated so quickly.As we all well know his face is good indicator of the state of the eCONonomy.
OK Ben,am a inceas'n your daily dosage of amphetamines to 20 pills and lay off the alchohol dude.
Gold up past 1200 again. Hmmm....
Ben is gonna hate the word " exceptional" and "extended" within months as oil skyrockets and out of control inflation staggers his neo-keynsian output gap nonsense.
ben considering reducing the interest on reserves from 0.25% to Zero? hahahahaha. Right.
Jesus Christ, it looks like he's been drinking heavily.
Ben is totally clueless about the economy, better to appoint a monkey for the post, could do better!
Is he still talking? I had a smoke and a piss and came back to his droning on and on.
"Ben is totally clueless about the economy, better to appoint a monkey for the post, could do better!"
What the hell do you think Barny Frank is for ? Duh, Barny's cock lisp is to cover up Ben's 'handicap' lisp.
Zewohedge, 1st you offend bwind men... now thith?
Yesterday Ben opens his pie-hole and everything tanks except bonds. Today he again opens his pie-hole saying the same gibberish and everything goes parabolic except bonds. WTF!
Well, that was a truly amazing artificial market lift we just witnessed at 10 AM. I'm stunned how they can spike the markets precisely as all that news is being digested. Housing starts are down......spike. LEI's are so-so.......spike.
We must always keep front and center in our understanding that the reason the Ponzi is still alive and well is because the people/entities it feeds are insatiable. Greed....apparently....is good.
I am starting to think that they will be able to keep this going for a long, long time. How many lives does this dead cat market have?
Rep. Frank - "We will be working very closely with you on the implementation of the financial regulation bill."
I am sure you will considering the bill gave the Fed more power than it has ever had in its long and drawn-out life.
Wait, I thought the Fed didn't want to be politicized. I thought they were independent of CONgress.
Yes, I know I am talking to myself.
The Pederast's time has expired. Yeah!!!!
Edit: I can't stand listening to any of them. Too staged and agenda driven, nothing is really being said. No one is trying to solve any problems. Ergaugh!
Wow PONZIPALOOZA this morning.
See kids when one fires 37,000 people (see CAT), the world, as reflected by the favored metric of the Federal Reserve and Treasury (Dow Jones) is a better place.
Does Ben have any social IQ?
deleted
OT: Fucking SOBs!
General Motors to Buy AmeriCredit for $3.5 Billionhttp://www.cnbc.com/id/38358573
You mean "we" just bought AmeriCredit for $3.5 billion. But it's good, right? Now we can sell more cars to ourselves.
Right? Right???
A bankrupt semi-nationalized company on taxpayer life support is buying a financing company so it can make "loans to people with low credit scores." It's not enough to enslave us, they have to have us beaten and whipped every now and then just to remind us who the masters are.
I didnt think GM had any money. I thought they had to pay back the US? I know, Im an idoit for thinking that. What is more upsetting is seeing "AIG" on those Champion's league soccer jersey's over in Europe. How much AIG have to spend on that? Can we get our $180 billon back please.
Didn't you hear? GM has paid in full and is now free and clear.
Except for the marching orders from DC not to shut down for summer retooling nor the huge increase in orders for government "fleet" renewal that's been accelerated by a few years. But that's all page 36 of the WSJ stuff.
That was my WTF moment this morning. Why the hell is GM buying a new finance arm when the last finance arm drove the company out of business and onto the Sugar Tit?
But Ally has those funny commercials. (blood boiling)
Where's MY chocolate ice cream cone. I'm new too!
.
Watching this gives me that unsatisfying cock tease feeling of a titty-bar.
They are giving me hope and in the end... nothing.
In the end of what?
No, on second thought, don't answer that. I'm afraid of what you'll tell me. There are just too many "ends" we could be discussing here. :>)
They've already given you something in the end.
Blue balls and an empty wallet.
What is this "wallet" you speak of?
Is "blue balls" slang for this "wallet"?
http://www.youtube.com/watch?v=VLnWf1sQkjY
CNBC Producer: Wait...it's Ron Paul's turn to speak?
Bernanke Covering Analyst: Yes.
CNBC Producer: QUICK! AND NOW BREAKING NEWS FROM SIMON HOBBS!!!
OMG, they switched back for the last few minutes of Ron Paul. Gotta maintain some type of credibility that there is an actual loyal opposition they're willing to give some sloppy seconds.
Sorry but that seems to be "the" word today.
That stunt CNBC pulled was fucking lame, too bad for them when Hobbs goes back to Europe he seems to put his sceptic hat back on and brings on Mr "All the Europe banks are full'o'shit" Manduca.
Hilarious.
'we the people' own gm. and they have a great idea to buy a subprime lender, so they can finance people with no money buying cars. it worked the last time, until lehman had to muck things up. finreg will make sure no more lehmans, meaning we can print money and hand it to everyone safely. this really is a wonderful life in a wonderful land with a wonderful obama. no need to refer to him as president, as he is so much more. and no need to read ZH anymore. you guys just don't get it, bunch of bears. next - atm's on every corner, no password needed. just need to explain what you want to purchase. apples gets no cash out. ipads gets all the cash you want.
Exactly, Americredit takes the worst of the worst creditwise and provides financing at exorbitant rates. So, the solution is to mimic housing and encourage everly deadbeat to buy a car they will let go back before term. The money gets created out of thin air and injected into the economy; a lame sneaky stimulus of sorts. Then, all the bad notes will be moved off balance sheet with trick accounting. Next, when the SHTF its just like the last time with GMAC financing. Then, company declares bankrutcy screwing all the bond and shareholders and TBTF kicks in and the whole mess is foisted off on taxpayers. Rinse and repeat to infinity. 20 executives leave with their pockets full and joe gets stuck with the bill. But I guess this is last desperate way to create growth in America.The new normal.Sad state of affairs really. I am encouraging my kids to start thinking about careers abroad, but minus a few islands and 200,000 bucks I don't know how to advise them to escape the huge tax burdens that will be placed on them.
lmao cnbc keeps cutting off the senators that mention the fact the Fed is the one fucking things up
watch Ben try to care about unemployment....
Ben Bernanke: I am not aware of any specific threat.
Rising unemployment, Expiration of the Bush tax cuts, Cap and Trade, unintended consequences of Financial and Health Care Reform, for starters.
Let's not forget State and Local governments on the verge of bankruptcy. Don't forget Ben, you'll need to bring your own TP when you visit Newark, NJ. They can no longer afford it.
Anyone know the last name of that Chip guy that was on CNBC about a half hour ago? I had the delay on TIvo and missed his full name.
Thx.
Mr. Chairman: The new CPA will be overseen by you?..No, it will be housed in the FED and funded by the FED but be independent???? WTF!
Tank yesterday, ramp today?
Seems a bit improbable given the move(s) already today but who knows?
What really gets me is that, like the US, this morning's UK move was partly due to the expected good results of the (lack of) stress tests tomorrow (after the London close!) when NOTHING HAS CHANGED!
DavidC
Barney Frank was lame duck pathetic at party bashing with his remarks.
The Congressmen was looking to Ben to state a position, so they would not have to think on their own. We need political will and cooperation between the congressmen in order to govern effectively. But to think our fate is in the hands of these people is very depressing.
God help us.
----------
The threat to Ben is a loss in confidence in markets and sovereign debt. So he needs intelligent congressmen to understand the problems in order to take effective actions, and what he is presented with is a public display of political in-fighting.
----------
It is very interesting in listening to Ben. Beyond the academic Kaynesian theories, what I see is Ben's priorities seem to be market focused like Greenspan. But, in action it seems that the priorities for the FED are (1 = highest);
1) Bank Profits
2) Equities
3) Rates
4) Economy and Price stability
5) US Dollar
6) Employment
In light of the facts and the priorities, the congressmen somehow think that Ben acts on behalf of the economy.
Mark Beck