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Market Reaction To Bernanke Speech: Disappointment

Tyler Durden's picture


Alas, the market still refuses to acknowledge that the S&P will need to drop below 1000 (and whatever the appropriate level for the RUT is) for Bernanke to greenlight QE 3 which will in turn send everything to the moon (better have those collocated algos ready and steady). Judging by the post-speech reaction, markets may finally be getting it, just as Bernanke is also getting that he is dealing with a heroin addict who will not settle with methadone (aka "extraordinary" and "extended").


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Tue, 06/07/2011 - 16:07 | 1348143 Diablo
Diablo's picture

long SDS, bitchez!  :)

Tue, 06/07/2011 - 16:15 | 1348185 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Panacea.  Goddess of healing.  He alludes to the fact hes not healing anything.

Tue, 06/07/2011 - 16:19 | 1348211 66Sexy
66Sexy's picture

Sounds to me like no formal QE3

Tue, 06/07/2011 - 16:12 | 1348188 Clueless Economist
Clueless Economist's picture

I may be in my pajamas, but I studying for my PHd

Bill Schaefer made a financial gain with his invention.

Attention parents and grandparents with Gerber's life insurance


and the genius of Steve Liesman all brought to you by CNBS!

Tue, 06/07/2011 - 16:19 | 1348214 TruthInSunshine
TruthInSunshine's picture

Bernank is killing it as a comedian! Killing it!

That's his real calling in life! Shit, who knew the bearded Keynesian mutant could be so damn hilarious?


Tue, 06/07/2011 - 16:18 | 1348231 Bindar Dundat
Bindar Dundat's picture


Tue, 06/07/2011 - 16:35 | 1348320 SheepDog-One
SheepDog-One's picture

HEY all we need is the nations #1 employer McDonalds to hire 250,000 new part time min wage workers monthly, and we're all set!

Tue, 06/07/2011 - 16:46 | 1348357 bigdumbnugly
bigdumbnugly's picture

yeah but steven wright has already copped the deadpan, depressed, rambling delivery.

Wed, 06/08/2011 - 00:51 | 1349707 Peak Everything
Peak Everything's picture

Maximum employment and price stability sounds pretty good. Why only the medium term? Why not short and long term also?

Wed, 06/08/2011 - 07:51 | 1350082 ms1408
ms1408's picture

I didn't think I'd laugh but that is HILARIOUS.

Tue, 06/07/2011 - 16:57 | 1348420 SheepDog-One
SheepDog-One's picture

But those results are not typical...

Tue, 06/07/2011 - 16:24 | 1348244 zeek
zeek's picture

until they deem the bear ETFs as a threat to the 'stability' of of the financial system...


I'm still waiting for them to vaporize my holdings!!!

Wed, 06/08/2011 - 00:12 | 1349654 66Sexy
66Sexy's picture

the only true equity is inverse equity derivatives

Tue, 06/07/2011 - 16:11 | 1348144 DoChenRollingBearing
DoChenRollingBearing's picture

That was a nice swoon!

Tue, 06/07/2011 - 16:22 | 1348235 Cdad
Cdad's picture

Looks like the S&P found support...aka the closing bell  :)

Tue, 06/07/2011 - 16:39 | 1348323 SheepDog-One
SheepDog-One's picture

Heh heh heh...

Tue, 06/07/2011 - 18:14 | 1348715 Steelpulse
Steelpulse's picture


Wed, 06/08/2011 - 00:41 | 1349703 hungarianboy
hungarianboy's picture

haha fantastic comment. laughing my ass off here :D

found support, aka closing bell :-)


Tue, 06/07/2011 - 16:11 | 1348149 PicassoInActions
PicassoInActions's picture

What is the definition of temporary? Transitionary? IN time frames?

3-6 month? 6m-1 year? 2-4 years? Any ideas?

Tue, 06/07/2011 - 16:10 | 1348172 Temporalist
Temporalist's picture

Until the Chairman is no longer Chairman and doesn't have to address these issues anymore.

Tue, 06/07/2011 - 17:08 | 1348464 The Profit Prophet
The Profit Prophet's picture

"Transitory" is a relative is the term "solvent"...neither of which apply to the US/World economy.

T.E.I.N. everyone!

Tue, 06/07/2011 - 18:17 | 1348724 Steelpulse
Steelpulse's picture

T.E.I.N.??? New to zero hedge. Thanks.

Tue, 06/07/2011 - 18:27 | 1348750 The Profit Prophet
The Profit Prophet's picture

The End Is Near (I'm the resident ZH doomsday and a few thousand others!)

It's an homage to Tigger's famous departing phrase: T.T.F.N.

Tue, 06/07/2011 - 16:13 | 1348174 Dreadker
Dreadker's picture

it is somewhere between a nanosecond and a light year... (and i chose a small unit of time and large measure of distance on purpose answering that one... straight from Der Benanks handbook - smoke and mirrors... and printing presses)



Tue, 06/07/2011 - 18:00 | 1348651 mynhair
mynhair's picture

A light year is distance, moron.

(Sorry, couldn't resist.  Just in a bad mood, and you were handy.)

Wed, 06/08/2011 - 00:35 | 1349697 StychoKiller
StychoKiller's picture

Shoulda been parsec...

Tue, 06/07/2011 - 16:14 | 1348178 achmachat
achmachat's picture

For your information... Nixon was saying in his infamous speech that they were going to take the USD off the gold backing temporary. That was 1971.

Tue, 06/07/2011 - 16:29 | 1348265 NYPoke
NYPoke's picture

What is the definition of Transitory? 


Doing the same thing over and over, expecting different results.

Tue, 06/07/2011 - 16:11 | 1348151 MrButtoMcFarty
MrButtoMcFarty's picture



Tue, 06/07/2011 - 16:08 | 1348152 Dreadker
Dreadker's picture

Its ok... its only transitory... lol

Tue, 06/07/2011 - 16:23 | 1348251 TruthInSunshine
TruthInSunshine's picture

Murder, rape & pillaging are transitory events.

Tue, 06/07/2011 - 16:52 | 1348400 bbq on whitehou...
bbq on whitehouse lawn's picture

Your transitory events have lasted since pre-history. 50,000 years since there has been anything to pillage but stealing goes back much further.

Sunshine is as true as the breeze. Both are needed for plants and plants are needed for every other living thing.

Tue, 06/07/2011 - 16:45 | 1348351 BobPaulson
BobPaulson's picture

Life is transitory. Is the FED?

Tue, 06/07/2011 - 16:11 | 1348153 Xibalba
Xibalba's picture

those pesky 'speculators'....

Tue, 06/07/2011 - 16:12 | 1348155 rajat_bhatia
rajat_bhatia's picture

we'll get heroin on the moon too, not much oxygen though

Tue, 06/07/2011 - 16:12 | 1348161 SDRII
SDRII's picture

1st comes debt ceiling lift

next comes a main street stimulus "jobs" program

then comes the Fed

Then comes elections 2012 

Tue, 06/07/2011 - 16:37 | 1348308 SheepDog-One
SheepDog-One's picture

So everything thats already failed, just do-over again! Wow should work great and fool lots of people into believing their Ramen noodles are lobster and filet.

Tue, 06/07/2011 - 16:41 | 1348340 TruthInSunshine
TruthInSunshine's picture

Ramen noodles have less saturated fat and are lower in calories than lobster and filet mignon dinners, so The Bernank, Jeethner & NerObama know what's best for us.

We're richer and healthier!

Tue, 06/07/2011 - 16:47 | 1348377 Rainman
Rainman's picture

Timmay wants to make us richer all right. Looks like he is furiously searching for the greater fool to better his dumping price on GM.

Tue, 06/07/2011 - 16:55 | 1348411 SheepDog-One
SheepDog-One's picture

Thats all...everything now is just trying to find a greater fool to dump the bubble to.

Tue, 06/07/2011 - 16:09 | 1348162 Clueless Economist
Clueless Economist's picture

I have advised Chairman Bernancke that QE3 is only a start.  We also need a $5 trillion stimulus to create or save millions of shovel-ready jobs.

Tue, 06/07/2011 - 16:17 | 1348199 aheady
aheady's picture

Shovel this.

Tue, 06/07/2011 - 16:49 | 1348386 Dr. No
Dr. No's picture

In your defense, I can see the logic of spending $5T asap.  May as well get some dirt moved while you still can buy a shovel with $USD!  Preempt the FED and bankers!  If we are going to drop money from helicopters, at least hover over mainstreet rather than wallstreet.  burn.

Tue, 06/07/2011 - 17:22 | 1348521 The Profit Prophet
The Profit Prophet's picture

Excellent advice Mr. Krugman. May I be so bold to suggest that your bastardized Keynesian brilliance be utilized to gain political support for the FED simply hiring every unemployed/underemployed person in America, paying them $30,000/yr each for a two year period. The FED would only have to extend its balance sheet by another 2T (which is less than the amount handed to the Elites) - and the 30,000,000 newly employed Americans can be put to work providing massages and hand-jobs to the about your economic stimulation!!!

T.E.I.N. everyone!   

Tue, 06/07/2011 - 16:09 | 1348166 mt paul
mt paul's picture

the bernanks speech was a

" boner killer "..


Tue, 06/07/2011 - 16:13 | 1348168 RobotTrader
RobotTrader's picture

ES at the lows right now.

12 points down in a flash crash.

IYR remains a safe haven, it was actually up today.

Resource stocks were totally destroyed in the last 10 minutes.

Tue, 06/07/2011 - 16:15 | 1348183 Deep
Deep's picture

Damn, you flip flop more than Cramer

Tue, 06/07/2011 - 16:16 | 1348217 oogs66
oogs66's picture

IYR will come down

Tue, 06/07/2011 - 16:47 | 1348360 homersimpson
homersimpson's picture

Even PDs don't flip as much as the RoboMondayMorningQB

Tue, 06/07/2011 - 16:26 | 1348252 Coast Watcher
Coast Watcher's picture

I think Robo gets paid by the number of junks he receives.

Tue, 06/07/2011 - 16:10 | 1348173 Yen Cross
Yen Cross's picture

 Ben is clearly in uncharted territory! Spasms in his voice are a CLEAR INDICATOR!

Tue, 06/07/2011 - 17:10 | 1348456 richard in norway
richard in norway's picture


Tue, 06/07/2011 - 16:14 | 1348176 max2205
max2205's picture

ah, Ben is the addict and the dealer....smoking his profits away

Tue, 06/07/2011 - 16:11 | 1348177 Clowns on Acid
Clowns on Acid's picture

Yeh...but it seems that as Unca Ben speaks about what we already know....seems like the Plunge Protection team has a sturdy ES bid in @ 1283.00.


Tue, 06/07/2011 - 16:14 | 1348180 AccreditedEYE
AccreditedEYE's picture

Now where's that deer in the headlights pic.....

Tue, 06/07/2011 - 16:16 | 1348190 Yen Cross
Yen Cross's picture

 Good post.

Tue, 06/07/2011 - 16:11 | 1348181 drswhaley
drswhaley's picture

BAC at two year lows.  Financial sector in good shape?  Thanks Ben.

Tue, 06/07/2011 - 16:11 | 1348186 I Told YOU So
I Told YOU So's picture

might be too soon to cluck, big drop (4 days) before this, I'll say bounce to 1315 by fri.

Tue, 06/07/2011 - 18:04 | 1348669 mynhair
mynhair's picture

Would luv TZA at 37, or 36.50

Tue, 06/07/2011 - 16:12 | 1348187 Hedgetard55
Hedgetard55's picture

The trillion dollar question: does QE3 ensure further stock market juicing, or does the debasing of the dollar ensure stock market Armageddon?

Tue, 06/07/2011 - 16:45 | 1348368 Federal Reserf
Federal Reserf's picture

Could it be both?  How about this?

The fiat juicing will cause an inital rise in the S&P.  The smart passengers flying in the Bernankhawk will be standing near the door with the ripcord in hand.  Soon after they bail out and land in Galt's Gulch, Cap'n Benny's fuel pump will start sucking air and the wreckage will be laid at Washington's feet on Wall Street.

Tue, 06/07/2011 - 16:51 | 1348378 SheepDog-One
SheepDog-One's picture


Tue, 06/07/2011 - 17:26 | 1348536 The Profit Prophet
The Profit Prophet's picture


Tue, 06/07/2011 - 16:17 | 1348195 buzzsaw99
buzzsaw99's picture

the bernank is full of crap.

Tue, 06/07/2011 - 16:14 | 1348197 There is No Spoon
There is No Spoon's picture

market didn't go down, it passed out from boredom.

Tue, 06/07/2011 - 16:15 | 1348198 disabledvet
disabledvet's picture

the blow ups have been in the sovreign space.  has government changed?  "it's just an interest rate" still seems the "modus operandi" to me.  i can live on 25% Greek interest rates--but obviously "i prefer 25% closer to home."  not IN my home nor running it of course!  in the meantime "the forever upward sloping demand curve for oil still remains intact."  who am i to argue with a bond market inversion should it occur?  i mean "i won't be the one saying the social security check is in the mail" when the time comes.  God help me if it's "all about the Weiner" when that hits.

Tue, 06/07/2011 - 16:14 | 1348200 SchroedingersCat
SchroedingersCat's picture

Did Bubble Ben just say that there was "no cost to the taxpayer" ? I think I need to go clean my ears....

Tue, 06/07/2011 - 16:16 | 1348216 disabledvet
disabledvet's picture

Ronald Reagan famously said "all the nuclear waste that we need to deal with can fit under the chair i'm sitting in right now."  Just accept it and move on...

Tue, 06/07/2011 - 16:29 | 1348281 Caviar Emptor
Caviar Emptor's picture

Reagan also said "I have only one thing to say to the tax increasers. Go ahead--make my day." And then he raised the payroll tax. 





Tue, 06/07/2011 - 21:35 | 1349298 Urban Roman
Urban Roman's picture

What an excellent idea.

Term limits enforced by nuclear waste.

Tue, 06/07/2011 - 16:36 | 1348304 sbenard
sbenard's picture

How much scope for intervention does the Fed have left? As of June 1, according to the Fed's consolidated balance sheet, the Fed is now leveraged 53-to-1 ($2.79 trillion in assets / $52.6 billion in total capital). This is more extended than Bear Stearns and Lehman were just prior to their failure. The principal difference being that the U.S. Treasury, and by extension, the U.S. public, is on the hook for any losses incurred by the Fed. -- John Hussman, Phd., CEO of Hussman Funds

No cost to taxpayers, indeed!

Tue, 06/07/2011 - 17:01 | 1348436 ebworthen
ebworthen's picture

"no cost to the taxpayer" in Ben's world means that with a few keystrokes he can create money that is infinitely floated, shuffled, and flipped.

On the actuarial table everything balances, but that is the lie of accounting.

Sophistry with numbers is a drug.

Equivocation with databases is porn.

Ben will debauch the currency and induce stagflation (if not more) and on his binary abacus there will be "no cost to the taxpayer".

Tue, 06/07/2011 - 16:18 | 1348206 RobotTrader
RobotTrader's picture

The "Dear Jim" letters must be burning up General Jim's fax machine....

"But Jim, you promised QE to infinity!!"

Poor David Duvall has to get the fire extinguishers out again.

Tue, 06/07/2011 - 16:23 | 1348241 Internet Tough Guy
Internet Tough Guy's picture

lulz. You are still the perfect fade, Momo. Gold held up while your bank stocks tanked. You must be puking up blood. But Momo, you promised.....

Tue, 06/07/2011 - 16:29 | 1348261 TruthInSunshine
TruthInSunshine's picture

Momo and his mom are in the ultralong (25x) 'We Own Every Diseased & Herpes Pustule Encrusted Whore of a Bank & Financial' ETF.

Tue, 06/07/2011 - 16:48 | 1348362 Spalding_Smailes
Spalding_Smailes's picture

So did Turd ( must be a QE3 )


Goof, should pay for Santa's dry cleaning after riding coattails last few years ( rustle, pirate, embezzle, pluck, plunder ect ... )

Tue, 06/07/2011 - 17:01 | 1348422 topcallingtroll
topcallingtroll's picture


Tue, 06/07/2011 - 16:56 | 1348401 SheepDog-One
SheepDog-One's picture

I thought YOU said 'QE to infinity' youre trying to put it on some guy named Jim? How are your bank stocks doing?

Tue, 06/07/2011 - 16:19 | 1348213 The Axe
The Axe's picture

The banks lead us down in 2008....same deal over.....I see

Tue, 06/07/2011 - 16:17 | 1348224 TheFantasticMonkey
TheFantasticMonkey's picture

Gotta love it - according to the chairsatan himself - while commodities are way up, price inflation is low because people cost less now. Prices going up, income going down, what could possibly go wrong?

Tue, 06/07/2011 - 16:17 | 1348226 Arnolds Love Child
Arnolds Love Child's picture

Perfect two day double bottom.

Tue, 06/07/2011 - 16:33 | 1348286 SheepDog-One
SheepDog-One's picture

Bottom? You aint seen shit yet...wait until this crackhead market goes into real seizures!

Tue, 06/07/2011 - 16:21 | 1348233 squib
squib's picture

How do I get back into Mom's Womb?

Tue, 06/07/2011 - 16:26 | 1348253 Cognitive Dissonance
Cognitive Dissonance's picture

Isn't that what every male (myself included) tries to do from the moment Mom starts pushing?

"Wait a minute, I didn't sign up for this."

Tue, 06/07/2011 - 16:41 | 1348344 sabra1
sabra1's picture

the bernanks mother pushed, but he came out the other end instead!

Tue, 06/07/2011 - 16:43 | 1348355 TruthInSunshine
TruthInSunshine's picture


Wait a minute...wait a was warm and quiet in there. I don't like these piercingly bright light and this ridiculous noise...and the cold, the cold!!!

Tue, 06/07/2011 - 16:43 | 1348332 Internet Tough Guy
Internet Tough Guy's picture

I'll be out in an hour.

Tue, 06/07/2011 - 16:24 | 1348243 falak pema
falak pema's picture

disappoint is not panic... the market just wants a glimpse of what's round the doesn't want a moon shot...

Tue, 06/07/2011 - 16:30 | 1348295 SheepDog-One
SheepDog-One's picture

Crackheads do not deal in subtleties, its either crack feast or crack famine.

Tue, 06/07/2011 - 16:22 | 1348248 Caviar Emptor
Caviar Emptor's picture

Awww..playing coy with us Ben? 

We know you have to be so very, very serious and salute the stock market, Wall Street and King Dollar. So you have to be like a parent and say:

 "No desert until you eat your vegetables!!" 

But we want desert now! The whole thing will swoon: the market, the dollar and maybe even bonds too unless you give us desert! 

And like an indulgent parent who just gives up on the bratty kids you'll give it to us...if we bug you :-)

Tue, 06/07/2011 - 16:27 | 1348256 carbonmutant
carbonmutant's picture

The solution to the problem is to spread the blame...

Tue, 06/07/2011 - 16:58 | 1348406 topcallingtroll
topcallingtroll's picture

I nominate you.for best post of the day.

There have been so many good ones it has been hard to choose.

Tue, 06/07/2011 - 16:28 | 1348262 Caviar Emptor
Caviar Emptor's picture

QE3 is just a transitory treatment for a transitory condition! 

Tue, 06/07/2011 - 16:33 | 1348290 wombats
wombats's picture

kind of like valtrex is a transitory treatment for herpes...

Tue, 06/07/2011 - 16:29 | 1348268 kumquatsunite
kumquatsunite's picture

 The above link is for a book review on the new book: The Ripple Effect, The Fate of Fresh Water in the Twenty-First Century.

If we don't stop immigration, all immigration, and scour those who've been let in under the guise of "family reunification" (so many false records?...) then it just doesn't matter. This is the circus to have you miss the point. The point being that nothing anyone does matters if this country is not saved from the reverse colonization as the third worlders are forced upon us to save us from our "white succes."  Look at any other country and no one else (well maybe the French) have agreed to genocide themselves and give their country away. Everywhere else people fiercely protect their borders and their country. And for those of you who think we are "helping" the Mexicans? Are you kidding? Mexico is one of the richest countries in the world, brilliant in having us pay for the births of their citizens, feeding and clothing and educating their children, and providing dual citizenship (based on the lie that you can steal citizenship by stealing the Constitution that is th  right only of the people of the United States. You see at any time, mexicans can run for the border and be taken in by a country whose natural resources include non-genetically modified crops, mining (coal, silver, gold), a fierce and undying loyalty to their own country seared by the heat of the Mexican sun and the heat of those wonderful pablo peppers. 

Meanwhile, the United States plays carnie with this glorious country, giving it away to the world's floatsam under the guise of "compassion", which is just another world for self-genocide/self country-genocide.

Good luck.

Tue, 06/07/2011 - 16:30 | 1348271 butthead
butthead's picture

long SDS, bitchez!  :)


I went 1000 long DXD at 18.05...we'll see.  :)


Taking a break from long silver...maybe at 30?

Tue, 06/07/2011 - 16:31 | 1348275 SheepDog-One
SheepDog-One's picture

Sure Mr Market the crackhead is disappointed, no giant bag of crack was handed over to them by Bernank!

Tue, 06/07/2011 - 16:34 | 1348293 Franken_Stein
Franken_Stein's picture


Cold turkey, withdrawal symptoms.

Mr. Market's body is jittering.

Reality is so cold and biting when the party is over.


Tue, 06/07/2011 - 16:43 | 1348335 SheepDog-One
SheepDog-One's picture

People seem to think now the crack junkie can now just go about his day with no more crack, and lead a pretty stable and productive life....

WRONG! Crack addicts need ever increasing amounts of crack every day or they fly into fits and cause mayhem and murder. Cant have it both ways people!

Tue, 06/07/2011 - 16:27 | 1348276 praps
praps's picture

Fed playing hardball with the Treasury. You won't do anything fix it so we won't.

Tue, 06/07/2011 - 16:44 | 1348339 SheepDog-One
SheepDog-One's picture

So now the arm in arm Siamese twins are supposed to be squabbling combatants? Sorry not buyin it.

Tue, 06/07/2011 - 16:27 | 1348277 hejss
hejss's picture

He did point out that inflation is a concern if commodities continue up..

Tue, 06/07/2011 - 16:32 | 1348287 sbenard
sbenard's picture

Bernanke should do us all a favor and make HIMSELF transitory!

Tue, 06/07/2011 - 16:32 | 1348301 buzzsaw99
buzzsaw99's picture


Tue, 06/07/2011 - 16:32 | 1348288 GottaBKiddn
GottaBKiddn's picture


The patience of the ChairSatan is bubbling over. He wants QE more than anyone, because his Nobel Prize depends upon it, but he knows that with just a little more time the squirmy rats will be begging him for it. He just wants to know that his Precious loves him.



Tue, 06/07/2011 - 16:34 | 1348294 Re-Discovery
Re-Discovery's picture

I am not sure what to make of the speech/answers.  I think the metals are acting as if he is very close to extending QE although not ready to admit it.

Stocks are going down, but for how long.  I think I hear a guy who wants to QE but needs shelter from that dreaded commodity inflation. 

Consistent with trying not to move markets, but I think the right bet is commodity long, stocks short term short, but ultimatley long on inflation trade.

Impossible to ead hawk into these comments, so game on for commodities.  OPEC meeting will drop prices tomorrow.

Tue, 06/07/2011 - 16:31 | 1348299 Caviar Emptor
Caviar Emptor's picture

Just in time : slumping in to the long hot summer

Tue, 06/07/2011 - 16:45 | 1348348 SheepDog-One
SheepDog-One's picture

Slouching ever closer to Gamorah...with no crack.

Tue, 06/07/2011 - 16:34 | 1348313 buzzsaw99
buzzsaw99's picture

the bernank is a one trick pony. funnel profits to the banks while spouting psychobabble.

Tue, 06/07/2011 - 16:38 | 1348315 Caviar Emptor
Caviar Emptor's picture

If we all yell for QE3 at the same time, we'll wear him down. 

Join the Wall Street crowd as they descend on Washington in the march of the overprivileged underachievers . 

Tue, 06/07/2011 - 16:35 | 1348316 LawsofPhysics
LawsofPhysics's picture

As I stated this morning; "Easy money, short indices ahead of the bernanke's speech."

Tue, 06/07/2011 - 16:36 | 1348319 HarryWanqer
HarryWanqer's picture

This is such a setup to QE3...

On an unrelated matter... Why does Bernanke always sound like a high schooler doing his first speech?  Is he that nervous?  He's been chairman for how long now?

Grow some balls and print the sh*t already.

Tue, 06/07/2011 - 16:42 | 1348353 Let them all fail
Let them all fail's picture

Its hard to say whats going on without saying what is going on and not mentioning all of the real problems, wouldn't you get nervous lying to hundreds of millions of people on TV?

Tue, 06/07/2011 - 16:46 | 1348358 SheepDog-One
SheepDog-One's picture

Great I hope he does do QE then we can finally bury the Fiatsco dollar and gold will be $1,700 overnite...bring it on.

Tue, 06/07/2011 - 16:52 | 1348385 topcallingtroll
topcallingtroll's picture

Dang i was nostalgic.for the real harry wanger. Been so long since ive seen the real one i mistook you for him, harry wanqer.

Tue, 06/07/2011 - 17:25 | 1348523 PhattyBuoy
PhattyBuoy's picture

Sure glad you aren't pining for harryweiner ...

Tue, 06/07/2011 - 16:36 | 1348321 fonestar
fonestar's picture

You gotta love Ben. 

The man with the Midas mouth, turning equities into Gold.

Tue, 06/07/2011 - 16:44 | 1348363 SheepDog-One
SheepDog-One's picture

One thing Ben has done is to turn a lot of Fiatscos into gold!

Tue, 06/07/2011 - 16:48 | 1348364 TruthInSunshine
TruthInSunshine's picture

In 2008, those golden equities lost more than half their value, on average, in a few short months.

Midas Touch & Bernanke Put, indeed!

Tue, 06/07/2011 - 16:40 | 1348336 wombats
wombats's picture

Where is the clown with the seltzer bottle when we need him?

Tue, 06/07/2011 - 16:41 | 1348342 Let them all fail
Let them all fail's picture

seriously jamie? what is the point of this stupid question? Hi, I'm Jamie Dimon, I'm on TV, yeah!

Tue, 06/07/2011 - 16:50 | 1348374 oogs66
oogs66's picture

that had to be the longest strangest question ever

Tue, 06/07/2011 - 16:47 | 1348379 swissaustrian
swissaustrian's picture

JD: Hi, my name is jamie and i´m a moneyholic

Crowd: Hi, Jamie.


Tue, 06/07/2011 - 16:56 | 1348416 buzzsaw99
buzzsaw99's picture

as if they don't talk at the orgies.

Tue, 06/07/2011 - 16:42 | 1348347 GOSPLAN HERO
GOSPLAN HERO's picture

Just let Max Keiser ask a question or two!

Tue, 06/07/2011 - 16:46 | 1348354 Rynak
Rynak's picture

I'm confused...... what was THAT supposed to be good for? It changed nothing at all regarding the market, except perhaps letting it for one day open and close at the same price.

Tue, 06/07/2011 - 16:44 | 1348361 ebworthen
ebworthen's picture


Jami "Demon" Dimon just talked himself breathless with a stream of bullshit about the great recovery and a list of lies while fawning before the FED Chairman and pretending to ask a question which was really a statement that said:

"You WILL let the TBTF banks create another bubble and rape the responsible households of the world all over again in 10-20 years if not sooner."


Tue, 06/07/2011 - 16:48 | 1348366 Quinvarius
Quinvarius's picture

He is also afraid someone will write a book in 10 years criticizing him.  LOL.

Tue, 06/07/2011 - 16:49 | 1348387 SheepDog-One
SheepDog-One's picture

Theyll be writing about Ben in pictographs on cave walls in 10 years.

Tue, 06/07/2011 - 16:49 | 1348370 GOSPLAN HERO
GOSPLAN HERO's picture

Waugh is sucking Bernanke's weiner.

Tue, 06/07/2011 - 16:46 | 1348372 pdizzle
pdizzle's picture

Bernanke looks like he has lost more hair...

Tue, 06/07/2011 - 16:46 | 1348373 Quinvarius
Quinvarius's picture

I heard QE3 announced in the form or reinvesting principal payments on the Fed's existing portfolio.  That whole "stock is the flow" thing.

Tue, 06/07/2011 - 16:48 | 1348384 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Beautifully put T. D.!


Tuco Benedicto Pacifico Juan Maria Ramirez

Tue, 06/07/2011 - 16:49 | 1348388 Highrev
Highrev's picture

BTFD is going to become JLTB.


Tue, 06/07/2011 - 17:07 | 1348390 Event Horizon
Event Horizon's picture


Hotel Bernanke

Welcome to the hotel Bernanke
Such a lovely space
Such a lovely pace
They easin’ it up at the hotel Bernanke
What a nice disguise, bring your goldman alibis

Mirrors on the debt ceiling,
The green cocaine on price
And she said ’we are all just prisoners here, of our own entice’
And in the chairman’s chambers,
They gathered for the feast
Then stab it with their fiat knives,
But they just can’t kill the beast

Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
’Q E’ said the Fed man,
We are programmed to deceive.
You can checkout any time you like,
But you can never leave!


Tue, 06/07/2011 - 17:17 | 1348480 Spalding_Smailes
Spalding_Smailes's picture

I Pledge Allegiance to the Chicago School
of the United States of America
and to the Primary Bankers
for which it stands,
one Nation under Ben,
with dollars and treasuries for all

Tue, 06/07/2011 - 17:50 | 1348617 The Profit Prophet
The Profit Prophet's picture

QE 3 (As sung by Barack Obama)


When I find myself in times of trouble, Ben Bernanke comes to me

Speaking words of wisdom...QE 3

And in my hour of darkness, he is standing right in front of me

Speaking words of wisdom...QE 3

QE 3..QE 3.........QE 3....QE 3

Whisper words of wisdom...QE 3

And when the broken hearted sheeple, living in the world agree

There wil be an answer...QE 3

For though they may be blinded, there is still a chance that they will see

There will be an answer...QE 3

QE 3..QE 3.........QE 3....QE 3

Yeah..there will be an answer...QE 3!!!!!!!!!!!!!!!


T.E.I.N. everyone!

Tue, 06/07/2011 - 22:44 | 1349499 TruthInSunshine
TruthInSunshine's picture


The fresh new hit by Ben 'Bubbles & Bananas from B52s' Bernanklecide & The Insane Clown Keynesians

I never meant to cause you any sorrow.

I never meant to cause you any pain.

I only wanted to one time see you laughing.

I only wanted to see you laughing in the easy fiat rain.


QE Rain, QE Rain.

POMO Rain, POMO Rain.

Tue, 06/07/2011 - 16:52 | 1348402 RobotTrader
RobotTrader's picture

Nothing but "Pure Pain" for:

- John Hathaway

- Rick Rule

- Eric Sprott

- Eric King

Another horrid day of underperformance from the PM stocks, and another "nightmare" day of overperformance of REITs and retail stocks today.

I'm sure these guys are at their wits end.

They will probably will dump the PM stocks for good and buy bullion and Treasuries tomorrow, and we'll soon hear of many gold funds closing down.

Tue, 06/07/2011 - 17:00 | 1348417 Highrev
Highrev's picture

Good eye Robot. Thanks.

Tue, 06/07/2011 - 16:57 | 1348421 swissaustrian
swissaustrian's picture

Silver is up 1 %

Tue, 06/07/2011 - 17:06 | 1348435 SheepDog-One
SheepDog-One's picture

Robo fading the subject about your great bank stocks?

Tue, 06/07/2011 - 17:11 | 1348472 Spalding_Smailes
Spalding_Smailes's picture

Can you post the video of the doomers™ getting tossed out of the pickup ( Gonzo Lira, J. Williams, R. Prechter, P. Farrell ect ... )

Tue, 06/07/2011 - 19:18 | 1348883 CompassionateFascist
CompassionateFascist's picture

No, but by the by we'll be able to post one of you cleaning the streets...with a toothbrush.

Tue, 06/07/2011 - 17:20 | 1348487 lieutenantjohnchard
lieutenantjohnchard's picture

projecting his own "pure pain" onto others robottrader thinks that those of us who own gold and silver can't look at our own accounts and see green.

btw: tzoo when you were boasting about it at $103 is now at $60.

robottrader: projecting daily his own failures in life onto other successful men.

Tue, 06/07/2011 - 21:51 | 1349345 Urban Roman
Urban Roman's picture

Silver was at 17.36 a year ago. Where is it today, again?

Tue, 06/07/2011 - 16:54 | 1348405 bbq on whitehou...
bbq on whitehouse lawn's picture

So in other words the gamblers broke even.

Tue, 06/07/2011 - 16:54 | 1348407 MrTrader
MrTrader's picture

QE III, QE III, QE III, QE III, QE III....Skynet out....zzzzzzzzzz

Tue, 06/07/2011 - 17:00 | 1348419 jmcadg
jmcadg's picture

Handbags at dawn.

Was I the only one listening to Jamie Dimon, both squaring up and ultimately crying, because he's not getting his own way.

Suck it up Dimon, my heart fuckin' bleeds for you. It's such a hard life at the top.

Tue, 06/07/2011 - 17:14 | 1348463 ebworthen
ebworthen's picture

Posturing from Dimon, fake question, making certain he publicly pressures Bernanke to not hurt his profit margins from 0.25% money at the back window and creating another credit bubble to feed the bonus, swap, fee, bankster gang-bang rape party of responsible households still rockin' and rollin' in the Babylon of U.S.A. on the Hudson.

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