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Santelli Blasts Bernanke: "Whatever You're Doing, It Isn't Working"
While some would look at the surge in government spending in Q3 last year (ahead of the election) and subsequent plunge in Q4 as conspiratorial, CNBC's Rick Santelli takes a step slightly further back as he draws the analogy between the mystical monetary experimentation of Ben Bernanke and his horde of central bank cronies and the "bloodletting of leeching" of medieval medicine providers. The point being that if you were sick in the middle ages, leeches were applied; and if you returned weeks later (still sick), more leeches and blood-letting took place - with no lesson learned. The fact that we borrowed $300bn in Q4 and managed a dismally dire drop in GDP growth offers little hope as the world glares agog at the Dow Jones Industrial Average index while Bernanke, six years on from the start of the recession continues to apply the same medicine that has done nothing to resurrect our economy. In Rick's words, "Whatever you're doing; It isn't working!" and in fact the monetary support could potentially hurt the economy in the medium-term as debt piles up exponentially. An epic rant...
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<--- Santelli > Bernanke
<--- Bernanke > Santelli
Bernanke has lost control of the economy. That is a fact. The rest is fluff.
the fluff has lost control of Bernanke; that is a fact!
Rick, PLEASE!! Don't you see that market indeces have never been higher??? How can you say that all the money printing hasn't done anything??? It's not all about GDP or earnings and PE, you know.
BTFD, MF
Today’s GDP figure was actually a result of Trickle Down Economics and deregulation, which Santelli supports. You idiots need to read a bit of economics and history before you pretend to understand the economy. Look up toxic derivatives and read up on the OWS movement. You morons have a lot to learn, I'm afraid.
Come on, Ben, fess up to being MDB. Maybe change your login to TrillionDollarBonus.
Reminds me of a Steve Martin sketch from SNL:
Theodoric of York, Medieval Barber
http://www.hulu.com/watch/3529
"You'll feel much better after a good bloodletting."
"But I'm already bleeding..."
"Hey, who's the barber around here?"
"You look familiar. Do I know you?"
Belushi as the Humpback: "You worked on my back."
MDB could be in either party--only their scripts are different, but their backbiting dipshit economic rationale's are the same: it's the other guy's fault. Both parties hope that you don't notice in the scrum that they are equally fucking incompentent where it concerns economic policy as they try to perpetuate the false premise that there's only two shitty choices. We bitch about the public alot on this site, but give 'em the credit that tuning out of this dipshit dialogue is a rational choice. Fuck you MDB and all who you represent.
OT... Germany wants it's gold, why not send them a $1T coin or 2. Shipping costs would be minimal, and I bet that they could have it within a month instead of multiple shipments over several years. Added bonus - no need to figure out who/where it is and "clean up" the books. The only real problem would be designing the coin and determining the "bust" that will grace the coin. The Bernak? BHO? How about Alfred E. Newman and his famous quote "What? Me Worry?"
More like trillion$platinumcoin
MillionDollarBonus, I can't figure out if you are a fraud-committing, criminal, socialist, moronic, elitist hypocrite, or if you are just getting your jollies by pushing the buttons of Zerohedge readers.
@ Supernova Born, when it comes to GOLD:
BTFD! BTFS! Just buy it!
Of course he knows, he is a trader. Pushing paper, skimming a living while producing nothing of real value. He is entertaining however. Now where's my bread?
next to the circus tickets on the table.
He is NOT a trader, you fucking dipshit!
Looney
Hmm.. I just watched that video and didn't think Santelli was nearly bearish enough. He seemed downright positive about the economy and the markets, and slightly miffed at Ben Bernanke. Not sure what to make of these once-bears like Santelli and Bass that are increasingly bullish...
popo new meme...ain't cha heard?
Oil from rocks will restore the country. All that worry about unpayable debt...that was just doomers selling advisory letters. Now, without explaining how the old meme (we are doomed) has been resolved, we are instructed to prepare for Obama's third term (because things will be so good every voter will get a pony and a blowjob). Apparently everything is OK now and the prior panic was just a test. Time to sell your gold, surrender your guns and love the coming utopia.
can I get that blowjob upfront?
If its in the back its not a blowjob.
Actually, what Bernanke's doing IS working.
The question is it intentionally being done? Or is he being told what to do??
Because if you want to put down a large swath of the population, this is exactly how you do that.
It is working flawlessly i might add.
Not too much longer now, we are nearing the home stretch.
He has been very succesful at his job, that is enriching the other banksters.
I'd love to know what readers of this site do for a living. Seems to me many that post here have very little understanding of markets, derivatives and economics
That's the second time this month you have pondered the vocations of members of ZH. Some are butchers. Some are bakers. Some are candlestick makers. Some are in the Biz and some are not. There are farmers, office workers, machinists, programmers and analysts. There are many traders and entrepreneurs. What difference does it make! We do not adhere to generic labels. We are all here to learn and we are all here to teach. Many know more about Economics than those I have interacted with in my career. They may not conform to the selected schools of economic thought sanctioned by the acolytes in Ivory Towers, but I have found that most everyone here brings something to the table.
Apparently WarHorse works down in the data mines.
Do I need a fucking resume to post now WarHorse? Do I need to call you for approval before I snark? Dipshit.
@ warpony u first .... oh , and blo me
Bernanke has a fluffer? Is it little Timmy G?
Nope. Krugman.
As always, Santelli is spot on. This is the definition of insanity.
http://schiffblog.blogspot.ca/
your statement assumes the bernank had control in the first place...
Early on, Bernanke admitted that he was in uncharted territory. I think he never claimed to know how to fix the problem. He was just interested in trying to keep things from getting worse.
Or....Bernanke is in full control and knows exactly what he is doing, that is usurping for his controllers and the .001%
Follow the money.
He never had control of the economy, just the world's biggest magic checkbook.
To state that he "lost control" only empowers his ability to destroy further as you add to the fiction.
You mean the illusion of control don't you?
He never had control. He is just a half-witted shill for the London/New York banksters.
He is just not doing enough!
That's what we will be told anywys. What the Bernenk is doing isn;t working so the scale of his non-working plan must be increased by magnitudes to really work!
Isn't that right Paul Krugman?
I was in DC at the National Association of Realtors meeting and saw this guy mention the bad GDP numbers. But he also put up a chart of Fed Funds Target against the Case-Shiller index. And then lumbers costs rising over 50% in one year. YIKES! Here is some of what he said:
http://confoundedinterest.wordpress.com/2013/01/30/mortgage-purchase-app...
Thät is why he now wants "Out".
Bernanke is a fluffer.
Here is the poroblem with Rick Santelli. As most people out there do, I watch CNBC on mute. I assume everyone else does as well. So what happens is every once in a while I happen to look up and I see Santelli screaming and waving his hands. I look around for the remote and look up again and he is humping a watermelon or sticking a tube of toothpate up his ass. Finally I find the remote and unmute it in time for him to yell "Back to you".
I wish I had some device to give me a heads up before he comes on.
fonz, do what I do when there is something objectionable on CNBS:
Head for the can...
EDIT:
Especially the NYT ads...
But i'd spend all day in the can, no?
It DEPENDS...
on how strong your stomach is
on how strong your prostate is
on how strong your sphincter is
...
...
...
FWIW it is the freakin scooter store commercials that are going to take me down.
But, you can LEARN a lot from the scooter store ads... Social Security Disability Abuse Alert! I mean they practically scream "Scam the government!".
Next time you go to Wal-Mart, you will see what I mean.
"I didn't pay a penny for my Power Chair. Medicare and my insuranced covered it all".
I'd love to thow that bitch down a flight of stairs!
"You've fallen, and you can't get up --- and I don't give a damn!"
(Referring to the welfare state, of course.)
you shoud make bearings for those scooters... just sayin'
They see me rollin'.
They hatin'.
We agreed to ban CNBC from the office. No more TVs. Instant productivity boost.
Anything on the web, including ZH, still perfectly acceptable, though. Might have to get rid of all the computers and put in an old ticker spittin' out quote tape to address that little productivity vamprie, though.
Get a DVR and push <<
why not hit rewind on the dvr?
Tivo? Won't alert you before he comes on, but you can rewind.
<---- blame Bernanke for the economy
<---- blame Obama for the economy
Now HERE is where we need a third option!
Green for the principal of the matter...
Bernanke's main goal is to keep the Ponzi scheme rolling along.
To that end, he's a great success.
http://www.angrysinner.blogspot.kr/2013/01/yesterday-i-made-egg-rolls-and-steak.html
Correction Santelli: It isn't working for you.
lol, the dichotomy; we and them...
Liesman......I know you read this.....Fuck YOU!!!
Liesman's a moron with guile
He's constantly spewing out bile
His Keynesian art
Till debt do us part
Is evil, disgusting , and vile
How about just LIESman is a bald headed, fat, lying, fuckwitted, dick licking, pus filled boil on the ass of society- CNBC
Excellent, Your Majesty!
The bankster snakes are all molting,
The errant knight Rodney is bolting,
I think this may sting,
So who’ll tell the King
The peasants are pissed and revolting?!
Long live the King!
Everyone in that fucking jersey studio should be raided and arrested under the RICO act.
This kike shit has gone on for YEARS.
LIESman, cramer, ira ross sorkin, faber, greenberg, kaminsky, rovell, finerman, kudlow the born again "Christian", boorstin, melissa francis, "zach" karabell, jane wells, wapner
such a mitzvah in englewood everyday, itz!!!!!!!!!!!!!!!!!!!!!
Itz almost as if they are in place running/protecting a criminal enterprise (fellow "jews)
How “Financial Innovation” In US Financial Markets Stymied Real Innovation
http://gregchase.com/2013/01/30/how-financial-innovation-in-us-financial...
After all the financial shenanigans by Wall Street that have been uncovered over the past decade, it’s a wonder we aren’t all back to stuffing our mattresses with bills.
who says we're not?
Nonsense. Look at AMZN. We have at least a few more hours before this thing blows sky high. Party On.
Fuck you Ben zona Bernanke
Sometimes I feel sorry for Rick.
He still believes what he was taught about markets and America.
Santelli's overt anger is just a manifestation of his discomfort due to the fact that he simultaneously holds two or more conflicting beliefs. This is called...well CD, you know.
Cognitive Dissonance on video:
http://www.youtube.com/watch?v=79HLnTPxMho
Just look at Macke's face even before he begins to speak.
He realizes that it is all bullshit, and that he either goes along when nothing makes sense, or he just comes out and says "This is all a crock of shit and you are all insane."
He is caught between the two, essentially says that it is all madness in the only way he can muster in the moment, and appeals for someone to make sense out of the senseless. Sorry Jeff, you won't get any help on CNBC.
The Mad Hatter's are everyone EXCEPT Macke.
“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” sputtered J.M. Keynes ... by way of an excuse, I guess.
It seems that both the attraction and the potential to cause harm of groupthink increase in direct proportion to the apparent intelligence of the group in question.
That was really worth watching. I really can't wait for this to become more of daily thing. I am going to laugh my ass off.
Increasing anger cannot be felt by me alone...
The cd and attendant anger must be bubbling up all over...
Comments on my notion? Are we getting more pissed off every day?
Yes.
Yes
I've had 2 conversation in the last 24 hours about stuff in general with 2 different groups.
One was a couple old accountant buddies of mine- older than me, I think of them like Grandparents almost. The calming "voice of reason". They were concerned that any money you put in a Roth IRA or 401k was just going to be taxed by the government in the near future regardless of strong promises to never do so. I was floored.
Next was a group of Cub Scout dads from my pack. One beer into the conversation and it turns out every single one of them bought at least one gun in the last year for then day when government benefits dry up and the gangs start to riot and pour out of the cities in an armed search for anything they can eat, steal or kill. They're preparing for "the day the EBT cards die". I shit you not. Serious as a heart attack.
I thought I could conceive of some really high level disaster scenarios from my readings on ZH. Figured I could easily out-crazy any idea they came up with. Nope. They were all over this- at my level or beyond- and not one of them had ever heard of ZH.
Draw your own conclusions.
thanks for sharing. good to hear what all manner of people are thinking and feeling out there...
Also wanted to say thanks for sharing.
What I have been really floored by lately is the changing attitude on all sorts of mainstream forums and commentary sections. Frankly I am surprised that that most MSM outlets have not disabled comments. They are getting flamed for every piece of bullshit they publlish. It's everywhere now. People are talking. Yeah, there is still alot of right-left, red-blue, etc. sort of stuff out there... but even that facade is starting to get thin. This may not seem like much - but it is entirely different than the attitude in the same places a few years ago.
@ NoDebt
My thanks as well. So it's now everywhere.
The answer is gold and guns. And whatever preparations you pile on top of that. Cub Scout dads is an interesting segment to comment. Bravo reporting.
so these guys have left the denial phase and have moved into the Anger phase. seems like they still have a long way to go.
luckily for alot of 'us' here, we are in the acceptance phase and moving on with our lives and preparing for the future....the toughest part for me was the Depression....it set in as i thought i could do nothing to change my position and noone around me understood. then i found outlets such as ZH.....
I try and let it go, as emotion only works to undermine intellect, and can be used as a trap. Here, for example, all it takes is a single troll to divert someone into an emotional rant, which will be seen by others as undermining the inegrity of what likely started as a more intelligent discourse.
This sort of activation energy is the oldest trick in the troll book. Once the emotions start flowing, it isn't hard to lead someone into a seeming incoherence.
Ask Rick, I'm sure he knows this by now. OR at least he should.
On, not off, fixed it for ya
I would respect him more if he just stuck to his position, not this "I agree with LIESman" bullshit. One day spell it out, "My colleague Steve LIESman is a dimwitted journalism major who knows nothing about money, other than the pennies Bernanke gives him for the blowjobs" or something like that.
I've seen b-cups Burnett cut a guy off cuz he was telling too much truth. Santelli has to stay within certain margins, or he'd have no job.
Ordered a new Blackberry on Amazon on my Apple iPad........P/E's apparently don't matter until they do.
Well.....you saved the stock for 2 seconds.
And it's gone. :)
<Thanks for playing though.>
what's the worry, its not like interest rates are rising or anything.
Interest rates?
Oil just hit $98. Err, sorry, the real price of oil hit $115.
Just can't wait for day Santelli tells Bernanke to fuck off and die. I will personally catch a flight to Chicago to shake his hand.
Until then...fuck you Bernanke, eat fucking shit asshole.
Leeches at least thinned your blood a little.
Bernanke is "Dr. Lancet", relentlessly bloodletting with his rusty unsterilized blade and wondering why the patient keeps coming back paler and weaker.
Hope Rick does'nt have a stroke during one of his rants, I would miss him!
i hope he does i am tied of him
watched Santelli for the last time moving on to Bloomberg
RICK SANTELLI - God Bless You Man! How do you put up with those fucking idiots on a daily basis. I think you are a centrist......where does it put the talking fuckheads. Rick, I pray for you to keep your wits about you each day.
this is all i think about when i watch CNBC and Rick versus the idiots.....
http://www.youtube.com/watch?v=hSCrcar-V5E
I don't even watch CNBS on mute anymore. Just knowing that those sociopathic shills and their guests are on in the background, makes my hair stand up. I would rather use my electricity, on something productive. I'll watch santelli rant on Z/H vid caps.
I just go to cnbc.com and click on the video section and look for Santelli, Faber, Schiff, Grant, etc. to see if they were on.
Marc Faber was on yesterday if you guys missed it. Faber is the shit.
http://video.cnbc.com/gallery/?play=1&video=3000144537
santelli is the only guy on cnbc who has a clue. everyone else on that network r clowns, including flip flop jim cramer
Really? I am really to believe that Santelli is this beacon of light out in the giant matrix of an ocean that CNBS has somehow overlooked?
All those bond auctions that he gives an "A plus" to knowing full well there is only one buyer in there?
All that data that he begrudgingly (no fucking idea how to spell that) admits is a positive sign the economy is on the right track
Every once in a while he rants like a crazy person who just got out of being locked in the basement for 2 minutes.
Sorry, I may have become totally jaded and have a complete mistrust for everything. But I ain't buying it.
fonz +1 These rants have gone on for so long, I'm even tired of him. Nothing ever changes and CNBC needs to have Santelli as a counter to all the Bernanke ball lickers on their station. Rick plays his role well. If it wasn't just a role, he'd have been gone long ago
haha, exactly! Santelli is to CNBC what Biderman is around here...
Santelli essentially got lucky the one time his first "epic rant" happened to get lumped in with the tea party.
I really wish zh would ban the words "epic rant" sometimes. They really arent all that epic when you get one evey couple of days
Not much luck involved when he's the mouthpiece for the Kochs.
Sanrally is holding his dick, knowing his 401k is the only one that is sustainable. The 80/20 rule on cnb whatever. +1
I think it also has to be the fact that he may be the only one on there with a conscience. The rest are souless farm animals that have been taught how to wear clothes and speak.
Helping the economy would be desirable, but it is incidental to the Fed's two main goals: enrich the big banks, and help fund the US government.
Bingo!
did it really take ol' rick this long to figure it out?
or maybe it is just going exactly as planned...
http://silvervigilante.com
The only thing the FED, ECB and IMF have done thus far is keep the derivitive dominos from falling. They will print another 20 TRILLION if they have to just to keep the 600 TRILLION DOLLAR DERIVITIVE CASINO from blowing up. What a fustercluk these compulsive gamblers have got us into. Problem is, they are runing out of ways to keep a lid on the scam.
Doesn't matter. The disaster is far enough along, they can let the whole thing blow, and nobody can stop it.
Obviously, it's not working, but Rick's paradigm is also wrong. The whole idea that we need to (or can) GROW out of this system collapse is pure folly. We, as a society STILL ARE IN DENAIL about the fact that this game is over. It's time for society to collectively figure out a DIFFERENT, and SUSTAINABLE way to live.
Why can't people figure THAT out? None of this debt even matters at this point because 100% of it will be DEFAULTED!
Oh ye of little faith in ZIRP. Defaults are part of capitalism, and thus have no place in our future.
All of that debt will be rolled up into one big black hole, so powerful, why, they'll base a new currency on it.
And now stocks close in the red?????
Potter, this is your one warning. One more down day and you're done.
cnbc makes me sick. they r saying how the gdp report means nothing, buy stocks, economy is recovering, its comical.
fuck them all
In A Right World One Could
Make Banks Suck Up Their Own
Losses And Where They'd Be Systemically
Dug In One Could Run Them Temporarily On
The Basis Of 2 Sets Of Books:
Business As Usual
Business Per Force Majeure
In A Right World ObamaCare's Protected
Cartel Combined With Elaborate Profit
Formula That Actually Serves To Maximize
The Profitability Of Cartel Status, With
A Dearth Of What Makes Sense For Doctors
And Patients, A True Castles On The Rhine
System, Is Busting The Trust Immunity,
Requiring By Charter Shows Of Public Benefit,
Requiring By Charter Physician And Patient
Committee Material Decision Making Input,
And Risk Equalization Such That There's No
Such Thing As Dodging Or Gaming Risk.
Having No Way To Make Money But The Right
Way, Carriers May Yet Then Have Trouble
Making An Affordable System. Provider
(Physician) Last-Mile Committees Can Adjust
Practice Standards To Fix That Last Bit.
ZH: Not seeing. Please delete per taste any double post.
In A Right World One Could
Make Banks Suck Up Their Own
Losses And Where They'd Be Systemically
Dug In One Could Run Them Temporarily On
The Basis Of 2 Sets Of Books:
Business As Usual
Business Per Force Majeure
In A Right World ObamaCare's Protected
Cartel Combined With Elaborate Profit
Formula That Actually Serves To Maximize
The Profitability Of Cartel Status, With
A Dearth Of What Makes Sense For Doctors
And Patients, A True Castles On The Rhine
System, Is Busting The Trust Immunity,
Requiring By Charter Shows Of Public Benefit,
Requiring By Charter Physician And Patient
Committee Material Decision Making Input,
And Risk Equalization Such That There's No
Such Thing As Dodging Or Gaming Risk.
Having No Way To Make Money But The Right
Way, Carriers May Yet Then Have Trouble
Making An Affordable System. Provider
(Physician) Last-Mile Committees Can Adjust
Practice Standards To Fix That Last Bit.
Did Rick call the Bernank an invertebrate, blood sucking moron?
I concur.
If you understand that Bernanke's real goal is not to improve the economic well-being of the average American, but to continue to strengthen and enrich the banking elite by consolidating their power and control (particularly of the government) and converting their bad assets to national taxpayer debt, while they and the MSM tell us it is good for us, then you understand that his approach is working quite well.
CaliGirl - Spot on.
So if we cut Fed Gov't spending that will take the price of assets down, if Ben stops printing (buying MBS) price of assets come down (bonds included here).
If we don't allow illegals full amnesty then our economy will suffer (who will pick the lettuce and work in NYC restaurant kitchens?)
If we don't increase Homeland security there will be an attack in a lrage US city.
According to Bernank and the Lame Stream media ....if we don't continue the dream of insanity then reality will be worse.
So lets all dream. Dreaming is good for the banking elite, the Media elite, and the Gov't elite. Very bad and getting worse for everyone else.
And if we criminally prosecute Wall Street banksters, then the financial system will collapse....
Pure B.S. meant to shut us up so they can run all over us!
If I were President, I would not look to destroy banks with massive fines or otherwise, taking down pension plans and other innocent parties along the way. I find it insulting that Breuer thinks we are stupid enough to fall for his the-world-will-end B.S. A bank is not going to collapse because they have to get a few new executives and upper management folks to replace the crooks, though the bank may collapse because of high risk gambles entered into by the crooks. However, that is the case either way, whether or not fraudulent accounting hides the truth.
As a customer, I would have more confidence in a bank that replaces its crooks than one that keeps them in place, and whose reckless and criminal behavior just might result in another massive, nasty earnings surprise and stock price plunge.
The banks did not create the problems. It was the People that ran the banks. Any miscreant behavior by their employees was also management's fault for not putting a proper control structure and personnel in place, and for not setting the proper tone at the top.
The DOJ needs to prosecute the executives and upper management, as well as the individuals directly involved in the fraud. The consequences of their criminal behavior should be forfeiture of their ENTIRE wealth (all physical and monetary assets) and lengthy jail sentences. If they don't have enough money left over to buy a cup of coffee then they should not have committed fraud in the first place. They won't need money in jail anyway. And if they can no longer pay for their kids college education, well, too bad. They should have thought about their kids and spouses before they threw their ethics out the door. Many parents cannot pay for their kid's schools. I worked 30 hours per week through college and managed to graduate in four years debt free and with multiple job offers. In the long run, numerous prosecutions (as a deterrent) will save significantly more taxpayer money than trying to claw back a few billion of hundreds of billions of continuing fraud, with little or no consequences to incentivise banksters to change their behavior.
Either Bernanke, Holder, Breuer, etc. are complete idiots, which I doubt, or they are intentionally trying to scare us into submission because they think we are all morons and easily fooled.
I made this analogy months ago:
http://dareconomics.wordpress.com/2012/07/06/bloodletting/
FUK U BERNANK!
Rick is kept on cnbc to be the capitalist clown but the real joke is on the network and the nation that believes the crap they push. Think of how many "realists" on this website thought the Q4 was going to suck and just ridiculed by media types. All you had to do was go x-mas shopping to see that the media was wrong talking about how good the shopping season was. Now we find out that inventories were a reduction to gdp which means that the business community expected it to suck. FU Obammer and Ben! and double FU to the media trying to spin this as good news!
Wait, people went Christmas shopping last year?
We just passed a twenty around amongst ourselves.
Congratulations and thank you NA. You and your people generated a contribution to economic stimulus. :-)
Reminds me of this story. It's long but worth the read.
$100 Bill
It's a slow day in the small town of Pumphandle and the streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.
A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.
As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.
(Stay with this.....and pay attention)
The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.
The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op.
The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.
The hooker rushes to the hotel and pays off her room bill with the hotel Owner.
(Almost done...keep reading)
The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.
At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.
No one produced anything. No one earned anything. However, the whole town now thinks that they are out of debt and there is a false atmosphere of optimism and glee.
And that, my friends, is how a "stimulus package" works!
Rick... SHHHhhhhhhhsh!! Uncle Ben the bone-Smokin' Butthole will help our gold go to $3000!!! keep it on the down low, bro...
In short, the emperor has no cloths.
How about - the emperor has clothes, but there is no one inside of them?
what about
the emperoress....
6 years and no progress.....wow.
More like 100 years of predation.
i disagree completely, what the Bernank is doing is working 100% as planned, want proof? DOW at a 5 year high.
end of discussion.
Bernanke is doing exactly what he set out to do:
Devalue the dollar, propping up asset prices so that pensions can return a nominal amount to keep GDP positive....
....wait, GDP went negative?
Oops!
GDP down, probably the story of the day (though kind of MSM-like).
Wonder why the Tylers missed this one.
In previous decades they called what Bernanke is doing "healing the banks' balance sheets". At least that was straightforward. Quantitative Easing is Owellian Disinformation.
Of course, no amount of printed money given banks to collect a risk free spread can work now. The banks are long dead, in spite of all the life support tubes from the Fed. No one in power wants to post the obit..And most of the rest of us don't want to face it.
To embrace todays reality, is to dance with chaos.
We live within the confines of a collective fanasty. Just because you see the world as it is, does not mean that those with everything to lose will choose to do so.
Those who extend and pretend are trapped, there is no escape, there is no other option.
As bad as things seem, consider the alternative.
CNBC and all the financial networks are doing there best to ignore everything that is "negative" for the market. Bloomberg and Fox are only slightly lesser cheerleaders for this craziness. It's not going to change. This game just gets more and more exposed as the farce that it is until even these psychopaths can't stomach their own nonsense.
Of course I'm being sarcastic, I think, or maybe not, I don't know cause maybe I'm getting old, but if you want to be a real patriot, why don't you quit you're job? Go on welfare, food stamps, section 8, and anythng else the government is giving away. What would happen if everybody starting doing this? I'd guess, martial law, forced labor, FEMA camps, rationing food, health care, death panels, etc. Then perhaps the people will garner enough courage to say no more, we are the government, not you.
Change isn't going to come without sacrifice.
OMFGSTFRWTFROFLFOMCBBQ SRS!
I am debt free as of this month. I also have $600 in coins at home. I will NOT be paying any of "YOUR" debts if I can help it. I WILL continue to cash any govt cheques sent to me. I hope the system collapses TODAY. Maybe the people in debt will be the ones laughing in the end but I wouldn't want to read in the morning paper that interest rates have gone to 18% over-night.
Why do people believe these numbers yet disbelieve good numbers?
Pretty sure they can't stop printing at this point so everything is massaged (either good or bad) to justify that behavior and slow down or speed up markets. Seems like that to me at least.
Oh it's working alright.
party like it's 1999...
with the Silver Liberation Army...
at...
www.ZIRPinUSA.com
yep if GDP is down, it's bad data according to LIESman, if it was up 3%, LIESman would pull his teeny prick out and jack off on TV
It's working just fine for the banksters, Santelli, either wake up or go away!
Santelli is an eliitest blowhard.... where was the great Santelli when Paulson/Geitner/Banking elites screwed the country's treasurey/citizens with OTC derivatives, high speed trading, and unlimeted illegal short selling?
What about advocating for criminal charges for his ultra rich buddies!
He blows a lot of smoke but NEVER creats any real fire.... 'cause he's an overpaid, CNBC blowhard.
So sayeth the Fox!
Totally agree, fox. Santelli like all the rest are either dumber than rocks or a bunch of lying spineless whores.
Lol,
Nobody controls the economy you dumb bastards.
Financial markets are NOT the economy. Prices are not activity.
Bernanke is just taxing everybody, via inflation, to plug the gaping fiscal deficit. The only way to avoid the inflation tax is to get out of USD and into assets, any assets.
So as long as the deficit is there USD will sink and all other prices will trend higher.
Sort your books out you dumbfucks. What is the point of striving to earn money in an environment of negative real rates?
The US deficit is an Albatross around your necks. It's killing your economy by killing any motivation to earn and save.