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Bernanke: "There Is No Bubble"
It was only two weeks ago that Fed governor Jerremy Stein delivered a speech titled "Overheating in Credit Markets" in which he observed the obvious and warned that a new credit bubble was forming (not to mention housing, tech, student loan, GM channel stuffing and much more). And it was only yesterday that we learned that Bernanke, after a 6 year hiatus, just had his latest "everything is contained" moment. From BusinessWeek:
"Federal Reserve Chairman Ben S. Bernanke minimized concerns that the central bank’s easy monetary policy has spawned economically-risky asset bubbles in comments at a meeting with dealers and investors this month, according to three people with knowledge of the discussions.
The people, who asked not to be identified because the talks were private, said Bernanke made the remarks at a meeting in early February with the Treasury Borrowing Advisory Committee. Fed spokeswoman Michelle Smith declined to comment.
The Fed chairman brushed off the risks of asset bubbles in response to a presentation on the subject from the group, one person said. Among the concerns raised, according to this person, were rising farmland prices and the growth of mortgage real estate investment trusts. Falling yields on speculative- grade bonds also were mentioned as a potential concern, two people said.
For those who are confused, the TBAC, or the Wall Street-committee, headed by a Goldmanite and a JPMorganite, that effectively runs the Treasury, warns Bernanke that new bubbles are forming (although certainly not in government bonds - that would imply the US government is a Ponzi scheme of course), and the Chairman promptly brushes it off.
In other words: "it's all contained", and just as when Maria Bartiromo asked him in July 2005 "what is the worst case scenario if prices come down substantially", so now his response, as then, is "I guess I don't buy your premise, it's a pretty unlikely possibility. We have never had a decline of house prices on nationwide basis." Of course, three years later the Fed had to do everything it legally could, and also much more, to prevent the modern financial system from terminally imploding.
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He was talking about the jobs market. Stawks are good to go up forever.
Man, would I love to jam a toilet bowl full of shit right into Beranke's SCUMBAG mouth.
SUCK IT BERNANKE !
when things get serious, you have to lie
Everything is good..
as long as he continues to not monetize the debt like he said over a year ago and there is no chance that our credit rating is lowered like Secretary Geithner said back then and we get the 10 Trillion dollars in deficit reduction like Obama is promising now.
There is no bubble, and I AM THE MALTESE FALCON. Can you prove that I'm not?
What a fucked up world the Jew media live in.
These are not the droids you are looking for.
I was hoping someone posted this. Thanks :-)
He's a first rate liar.
"I assure you that the Fed will not monetize their asset purchases."
-Ben
"Current talk and fears of inflation are largely overstated. Rising food prices in developing nations can be attributed to the citizens of those nations seeking more sophisticated diets."
-Ben
<Central banks hold gold because> "of tradition, I guess."
and my favorite.....
"current demographics support higher house prices."
-Ben
LMAO
He was wrong over and over again. And he is still the Fed Chair 5 years later. Interesting.
The King holds the throne only as long as the King's court allows him to.
He is the public puppet of the court.
"Fundamentals are up very strong. We got a growing economy, jobs, incomes..."
Did anyone notice his nose getting larger?
"Did anyone notice his nose getting larger?"
Someone should ask him if he is wearing a hot pink thong. When he says no and his nose grows, then we will all know the truth about everything.
Everything is contain, not to worry.
Just don't open your eyes at all
Layoff/Closing List
http://www.dailyjobcuts.com
-
Who needs a job?! Its much easier to get paycheck from .gov without the work hassle. Dont ya know our .gov has magic printer and can pay us all?
Bernanke: "There is no bubble."
THIS IS THE THIRD FIRM SELL SIGNAL.
We've had the shoeshine boy moment --> http://video.cnbc.com/gallery/?video=3000146541&play=1
(Background of 1929's shoeshine boy for those in a coma: http://en.wikipedia.org/wiki/Joseph_P._Kennedy,_Sr.#The_Crash)
We've had the "stocks seem to have reached a permanently high plateau" moment --> http://www.zerohedge.com/news/2013-02-15/greenspan-ignore-economy-only-s...
Greenspan: "this means that it's going to be very difficult to get stocks down. it's very much like saying the earnings price ratio is at a level which it cannot basically go down very much"
Same thing in 1929: http://en.wikipedia.org/wiki/Irving_Fisher#Stock_market_crash_of_1929
Prepare for the great crash of 2013.
All the devils are here.
But he is telling the right lies, at least if you are a dick sucking bureaucrat.
"Fed" is just a label for a criminal mafia banking cartel/elite. And Bernanke is just a figurehead doing what is ordered and spewing bullshit in his spare time. If you look at things knowng this then it all makes sense, and you can even "predict" what they will do/happen next.
No, no. He’s not lying ... he’s ensuring that expectations remain anchored, because if a sufficient majority of people can be convinced that something is true, then - in Keynesian-Krackpot-land - it IS true by definition. So if “everyone” comes to believe that it’s true, then how could he have been lying?
The “everyone” that believes is, of course, the obverse of the “nobody” who actually saw this whole shit-storm coming. See how that works?
Really Benny? Perhaps we should take a page from Iran.
Iran to Execute 4 Bankers on Fraud Charges
Iran’s judiciary system recently worked through the biggest banking fraud case in the nation’s history.
According to The New York Times, the outcome of the case was made official on Monday. Results were dramatic to say the least.
Judiciary spokesman Gholam-Hossein Mohseni-Ejei told reporters that four people had been officially sentenced to death on charges of corruption and “disrupting the country’s economic system.”
The guilty party was responsible for mishandling $2.6 billion of funds – using forged documents in order to receive credit from banks, permitting them to purchase state-owned companies.
From PressTV:
According to the indictment, the owners of Aria Investment Development Company, which is at the center of the controversy, had bribed bank managers to get loans and letters of credit. The company has more than 35 offshoots which are active in diverse business activities.
http://www.infowars.com/iran-to-execute-4-bankers-on-fraud-charges/
If only.
But in the west:
FRAUD = NATIONAL SECURITY
A vicious proposition doomed to end in spectacular failure.
You didn't build that bubble..... Or in this case, you did.
The high priest of the banking cult simply cannot deny the premise for its own existence without denying the cult itself.
<It all falls down after that point.>
Just wondering. Who lives in a cave, and doesn't know that Jews and only Jews decide every damn thing that goes on the Boob Tube 24/7? Sometimes reality chafes your ass, but the truth is it's own defense.
never thought I would say or even think this but...............
Credibility score;
Bartiromo - 1
Bernanke - 0
/s
bruv your probably right but still the only thing i'd like to give Fartiromo is herpes.
Fish cant see the water that surrounds them!
Looks like only bonafide nut-jobs make it to the top.
The game is not over. It remains to be seen who will be on top when the tower collapses into a heap of rubble.
"Britain's central bank has been eyeing such a deal for some time, saying last month it was ready "in principle" to adopt a currency swap line with its Chinese counterpart as the yuan starts to emerge as a world reserve currency."
http://www.telegraph.co.uk/finance/currency/9888141/Bank-of-England-clos...
There has always only been one WRC. Will there be two, or is the US Dollar finished, and that's why America is for sale to the highest bidder?
It's for sale because the world is awash in fiat paper dollars. They spend real good in the Ol' US of A.
There are tons of nut jobs out there. Many of them are in prison, or institutions, or just annoying everyone around them.
Only a very select few possess the proper credentials to rise above the ordinary nut jobs and slither to the top.
Nope, Timothy Geithner and Honk Paulson r going to cash the next Nobel Prize for Economy and assure their intellectual superiority over the Muppets ....
Surely you mean The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel?
This can't be said often enough ... there is NO Nobel Prize for Economics. That which is so-called is an example of Central Bankers "pushing in" so that they may be seen by association to be among "those who ... shall have conferred the greatest benefit on mankind" as the stipulation in Alfred Nobel's will has it. Then again, Nobel invented dynamite, so the whole deal looks pretty dodgy anyway.
More like "those who shall have inflicted the greatest detriment on mankind may thereby salve their tormented consciences" with the hearty huzzahs of similar hypocrites who have done likewise, all washed over with generous lashings of ill-gotten loot. It seems - certainly with the "political" awards - less so perhaps for the "hard science" ones - to become more of a sick parody of self-adulation with each passing year. The economic boyz no doubt think that their category is among the latter but, of course it's as political as it gets right from their cloven hooves to the tip of their pointy horns. Evil always masquerades.
You're correct! However, i hereby nominate Mr Durden for services rendered to economics & human resources &&&&&. Without his devotion to Democracy many of us would be as lost in a sea of horseshit sheepledom. The struggle continues.
So few are willing to take the blinders off. It turns your world-view on its head, so cognitive dissonance is preferable.
Better the tissue of comforting lies than to face the ugly truth.
@Plad,
The fem-bitch reign of censorship terror seems to be lifting a bit.
Check out F22 in the article below this one. Since you were the reigning champ, I thought you should know;)
So, basically, he's acknowledging that the shit is about to hit the fan. Thanks for the heads-up, Bennie.
Stop the Bernank Bashing! This is a "Gift Horse" (or Gift Horse's ass depending on your view). This wonderful idiot is about to hand those in-the-know traders / investors one of the greatest opportunities to generate wealth in the past 100 years. Long puts, long "the precious one" at just the right time and, thanks to this certified economic moron of galactic proporations, you will have little to worry about for the rest of your life (other than hiding cash and "the precious one" from the libtard dumpster divers). Let this bond market correct with some aggression and with a little vigilante and European help...the sleigh ride begins. It simply can't be far off. There is dissention in his own ranks and the country is in an unrecognized depression. Its coming.
Fate the Magnificent
"Push the Button, Max"
The Fed policy has many errors and risks. However, on this occasion seems it them if they are right in what they say.
That is a tender notion but you're forgetting something very important.
Unless you cut off his horns he and his ilk will just come back to life as a politician.
His human horn?
He said that there is no bubble? Ben, yes there is, right between your ears!
He is a disingenuous sack of shit. Their whole business model is one of creating bubbles. He's an obfuscating liar, It's what they do, it's what he's paid to do.
There's always a bubble.
No bubble = no debt (now known as "credit") = no USD = no "war on terrorism" = no more global empire =
"?????????????????"
Look people it's the long lost constitution, we found it at last after all this time..
Ha, the article was released to jack up the markets the usual 1.5% or more but it went over like a lead balloon.
Bernanke is fading fast. In the photo, he looks like a scared little girl.
Fuck you, Bernanke.
It would be appropriate to caption run the ensuing collapse and its costs over the next four years as streaming headlines while Chairman Bernanke - with all the information and resources at his fingertips - is spectacularly wrong about the collapse.
From the Princess Bride:
Vizzini: Inconceivable!
Inigo Montoya: You keep using that word. I do not think it means what you think it means.
No REALLY there's no 'BUBBLE'....and we just had a spectacular 'once in a lifetime' -100 point 'dip' in equities from all-time highs....BUY BUY BUY you damn muppets BTFD BUYYYY!!!!!
It's not muppets in the sense of mom and pop day traders who drive markets. It's hedge funds churning our accounts and skimming our savings. I expect there are other nefarious players providing the inflation screen but the fund guys are the ones who are pissing me off the most. Whether or not they are muppets is debatable too.
DId anyone at the meeting confront the chairsatan about his previous prediction and say to his face that his present prediction is full of shit?
No, of course they did not. Because they're all chicken shit yes men and women, who quietly place bets opposite to what the chairsatan predicted.
Actually the 'no bubble' comment was for the muppets -
A good bubble burst is Exactly what these financial coup plotters want - then they can jam any corporate wetdream they want thru in order 'to save' the system.
Of course after 2008 average wages and wealth for the bottom 99% went down - but the wealth of the richest faacists went up -
So these coupers will gladly destroy $10 of your wealth to make an extra nickle for themselves -
Funny but we hung these fascists from the nearest petro station lamp posts after WW2 - here they get to have dinner with the leaders of both parties.
As for the comment - who could have seen it coming - vis a vis the housing crash - well look no further than the shorts these very same predators engaged in - making money fraudently on the way up and then using free jack to buy up real assets on the cheap after it implodes.
Time for a Hanging Party!
Bubbleyum : The no stick bubble..that won't stick to your face
How's that for a Gum...i mean Bernanke commercial
Two Words - "EPIC FAIL"
http://youtu.be/zJ6VT7ciR1o THERES NO PLACE LIKE FRAUD, THERES NO PLACE LIKE FRAUD. REPEAT AFTER ME, MEDIA, THERES NO PLACE LIKE FRAUD
How about the huge bubble in gold? Surely, he must have mentioned that, at least?
He is diligently working on that bubble.
The Chinese and Russians should send him a "Thank You" note. Keep pushing it down, and he might get a "Thank You" note from me. Silver under $20 one more time would be really nice.
BooYAH bitchez! Got some locked in at exactly $27.50 and damn happy about it. Great weekend to all!
I'd love to ask Ben if he could actually describe "a bubble".
He would say it is a barbarous relic from Atlantis.
With a name like Bumfracke, he should know all about bubbles.
im pretty sure he makes bubbles in the bathtub
Bernanke is a criminal, and a liar.
If destroying the US dollar's reserve currency status as the currency in which to trade nearly all of today's global trade is his goal then I'd say that's cause for treason.
Ha! Selling Horse and Donkey meat: Inflation contained.
CPI: "While the prices of Chicken have risen recently, consumers have switched to Donkey and Horse meat. Because of this transition, there is no need to adjust the CPI for this change. We also believe this trend will continue in the near future as conumers switch from horse and donkey meat to road kill. We strongly believe inflation will be contained for a very lengthly period as consumers continue to make adjustments to thier purchases." </SARC>
Montana Bill Would Legalize Roadkill Dining
http://abcnews.go.com/Health/montana-bill-legalize-roadkill-dining/story...
You don't like flat possom stew? Hellsthematterwhichya?
Ben Bernanke... Home of the Whopper!
(aka, if you're gonna lie, lie big, like entire financial system big)
Ok Bubbles, the jig is up! Drop the ink and come out with your hands up!
He's serving up shit sandwiches, Billy. Will you have fries with that?
Gold @642 and silver @13 flashing across as he spoke makes me feel even dumber today for not putting it together then.
Better yet, Look up the gold price in 2002 when he gave his "glorious" helicopter speech. When Ben starts denying a bond bubble and says "Gov't debt is contained" Load up the wagon!
the best part about that video is around the 1:35 mark where he says he's confident that bank regulators will pay attention to the loans made
Central bankster telling the truth? About as likely as a bankster being arrested for fraud.
Ben Shalom Bernanke, dutifully serving his masters. The only kwerstion is... who are his masters..
END THE FED... Oh wait!
It hard to see the bubble when you are inside it.
or
Actually, this one is so big the entire globe is inside it!
or
Welcome to Bubble World. Altogether now: blow!
I'm convinced humanity never invents time travel.. cause if they did, i'm pretty sure they'd come back and take out Bernanke, cause i'm pretty sure his policies are eventually going to ruin the world.
Wrong, wrong, wrong, all wrong. And he is still in charge?
he's very good at following orders
he doesn't get paid to be correct. he gets paid to lie.
Just like he testified to congress he wasn't monetizing.
Bubble Bernanke and the rest of the fed members are so used to lying they don't know how to tell the truth.
Recently Bernanke was asked about an exit strategy. He fumbled. They have no exit strategy.
Bernanke and the Fed print until the US dollar collapses and all faith in it as a viable currency is gone.
"Of course, three years later the Fed had to do everything it legally could, and also much more, to prevent the modern financial system from terminally imploding."
Seems to me they did a bunch of illegal things as well.
Osmium:
That was the meaning of the phrase, "and also much more . . ."
But for libel law purposes, you can't say it in so many words. As aggressive as ZH is, I have trouble believing they don't have an on-duty libel lawyer reviewing nearly every post they write.
-30-
Tyler never leaves home without a pack of condoms. #Wikileaks
It's all going down man. Let the chips fall where they may.
After seeing that
1. Why would anyone ever respect his word ever again
2. Allow this scumbag to ruin their lives. And not storm his office and arrest him. We are a very sorry group indeed.
Hyman Minsky was right. BernanQE should read up on Mr. Minsky's Financial Instability Hypothesis. Here is Minsky writing about Frederick Soddy's 1926 book, Wealth, Virtual Wealth and Debt:
Same as in 2007 when he said that there's no housing bubble, he is just trying to lure as many suckers as possible.
This is the clearest sign to me that Obama has signed the executive order for the next market flushout.
Mario Bartiromo, it all makes sense now. I always thought she was kind of mannish.
Arab spring, my ass...
Budding Egyptologists should read this:
http://www.thenational.ae/business/economy/egypts-wheat-buyer-nomani-removed
and realize that Egypt no longer generates hard currency from net oil exports...
... and spends £1.7m on teargas
http://www.guardian.co.uk/world/2013/feb/22/egypt-17million-teargas-econ...
BS Bernanke.
Whenever they say there ISN'T a bubble......THAT is when I start to get scared.
Some think Bernanke, Dimon, et. all are nefarious manipulators behind the scenes.
I actually disagree; I think they are selfish, moronic fools who simply refuse to NOT go down (while taking the system with them) and refuse NOT to admit their wrong.
I think that is why these people are allowed to stay in the places they are: they smile and wave, looking as if they have the noblest of intentions...looking all super smart with the Ivy League degrees....where really, they ARE actually the dumbest people in the room - and that to me is FAR scarier than a colluding set of "elites" trying to game the system.
I am terrified beyond the capacity for rational thought.
This is a bubble in the reserve fiat currency. What can we say? The biggest bubble of all, right in his face and he can't see it. He thinks he can print away to his heart's content forever, there will be no unintended consequences and it will create wealth.
khakuda:
Never forget that the helicopter raining money upon the society is Bernanke's thesis for how the Great Depression could have been ended.
Why does it surprise anyone that he is doing exactly what he said be believes is the answer? He told you what he thinks needs to be done, and that is exactly what he is doing.
The people who amaze me are the ones to whom he tells what he is going to do in this situation, and then act surprised - and often filled with hate - becuase he does it. Those are the people that are whacked out . . .
-30-
MarsInScorpio
You're right. BernanQE has been very clear about his objectives, so much so that I only write his name as "BernanQE." What is truly marvelous, though, is his inability to see that his thesis, his policy prescription is seriously flawed. He is clinically delusional. He is pathologically demented. His mental condition is so fragile that it warrants his immediate removal from office by men in white coats. Yes, I said that and I highly suggest that course of action.
The Ben Bernank is more deluded and psychotic than Alan Greenspin
Deluded? Yes. Psychotic? I don't think so; Alan Greenspan is one of the most evil people on this planet. Plus he looks like someone you'd find in a "Faces of Death" video.
Bernanke is just a tool who thinks he knows everything; Greenspan is a economic tryant who wants everything.
He is the monkey head every sits around the table with and smashes with a hammer.
Not deluded. Psycho...yes.
He knows exactly what he's doing and he's on prozac or sth like that.
I am quite convinced that the reason he won't be re-elected is because he cannot handle the situation any longer MENTALLY.
re-elected?
ok,ok
re-appointed
Ye Dowth Question thy king? INSOLENT FOOL.
I do not think that word (bubble) means what you think it does...
He should have been fired. Anyone in any job anywhere would have been fired being THAT wrong.
Jews are different
Maria is a little inflated from the waist down .... talking head syndrome ?
Bloated. She is getting older . Shit gets real after 40. She is 40+
Who better to know how to get the US out of this mess than the one who helped put us in it?
You think theres is a way out of this ?
Whose demented now ?
What a sham this guy is. He's talks with such confidence back then, and as he actually does today...and back then he was EXACTLY WRONG. Today....HE IS EXACTLY WRONG. We are going to see a bond/equity/dollar meltdown like never before...and they've grown this problem so large now...that once it starts tilting that way...central banksters themselves will see their own corrupt portfolios imploding before their eyes and will not be able to kill enough trees to stop it
...and back then he was LYING. Today....HE IS LYING.
Fixed it for you.
Thanks man.
The Bernanke 2015: "We WILL NOT devalue the dollar."
Mission Accomplished!
Did you catch LIESman wiping the Bernanke jizm off his mouth?
LIESman is just a fluffer, banksters and politicians get the money shot.
Heckuva job xxBrowniexx Bennie!
It doesn't matter what market-calming Bernanke says, it matters what he does and is the primary reason why he was chosen long ago to head the Fed.
Demographics is the primary driver of the structural problems and even Japan has demonstrated that fact. Europe is following Japan's path and the U.S. isn't too far behind. Bernanke is fooling himself believing that more money printing will correct the demographics problem.
Must be getting pretty hot in there Benny, why don't you give yourself up. You and the Droner, put your hands up and come out.
You bastards want to mark my house to market take this.. ratttatttt. (sound of the printing press)
Nobody wants your funny money Benny, and nobody wants the Droner flying over their neighborhood. It's all over.
You all lied, everbody lied, they told me I was independent. The next thing I know I'm travelling to China, making speeches about the dollar. That wasn't my idea..
Put the Droner on, Benny..
Hey, I think we can compromise on this.
Knew you'd be reasonable, Droner. Now tell Bubbles to throw down his printing press and you two come out together, hands up.
We can't do that. I promised a lot of people I'd fix their student loans.
Oh come on Droner, you're moonwalking on me again.
I'm not worried I took the bullets away from those Marines, just in case. Hahhha
These aren't Marines. They're widows and orphans. Savers you screwed out of their money, now they see you want to screw them out of their Medicare, and blame the Republicans.
Let me see that PP Bubbles, I want to print some phony bonds off balance sheet. But the backdoor is covered Droner, we'll never get out alive. The backdoor is never covered, I know these guys Okay? Let's go. (cue the Butch Cassidy and the Sundance Kid music)
Rattatattttaaaa. Ohhh Ahhh. Damn that didn't hurt as much as I thought.
Oh, my goodness sakes... he is, afterall, supposedly the foremost expert on what had formerly been known as The Great Depression. In the future will be known as just a bump in the road.
In the Great Depression, TPTB pumped up the stock market and then got themselves and all of their buddies out just in time. Then they bought everything back at pennies on the dollar and became mega-retarded rich. FDR pushed the New Deal, gave himself more control of the economy, which made things worse, prevented a true correction, and caused the actual Depression.
The only thing that got us out of the misery was war (let that marinate for a minute).
Do we see a pattern developing here?
The only reason we were able to recover and grow after the waste and catastrophe of war was that nearly every other industrial economy on the planet was bombed to rubble.
So, we encourage the Chinese, Japanese and Koreans to really go at it, then we, the rest of the Anglosphere and Europeans clean up. Oh, and we promise a little to the rest to the B, R and I of the Brics to keep them quiet.
I'm thinking about all of the people driving to work with big smiles on their faces after they just looked at Yahoo finance and saw the DOW go up again. They're so happy that they raised their 401k contributions because this time it's different. Retirement will be sweet.
You can't spell DOW without OW!
I'm still trying to figure out if he's just a bold face liar or just really that stupid? I mean afterall he was educated by liberal theoretical economist professors who most of them have never worked a real job a day in their life.
He's no dummy. Another complacent and complicit actor and liar.
World is being controlled by them, surprisingly, still
Liquidity-inflated bubbles are just the foundation. The derivatives written on those bubbles is where the true "multiplier effect" lies. Just ask the shills that went on a spending spree on the backs of their collateralized debt obligations trading book.
2008 was just a warm up...
Makes me sick the psychological tricks these jokers use....
"We have a growing economy"..... Okay, if he says so.
But he continues to follow that by just saying, "jobs, income..."
You're supposed to assume that he meant those are growing too but he NEVER SAYS IT.
So yeah Bernank. We Have Jobs, We Have Income, I agree...
Ah, the wonder called "FedSpeak."
legally???? according to the crime boss of the century, of course
No second bubble now, that's why he's throwing $85 Billion/month at Mortgage Backed Securities.
It means that everything is fixed and is just fine, just like he said in 2005-2007.
(/sarc)
You know what this means people?
This is the infinitely growing can't lose never gonna burst bubble.
This is IT! ALL IN!!!
Hes full of it again, the hot air its escaping.
He's either a liar or stupid, or both.
Where's the fucking silver Bernanke, you stupid motherfucker?
Where's LongSoupLine to tell off this motherfucker when you need him!?
Isn't there supposed to be background music when there is so much dancing going on?
I think Bernanke takes special pills to stay so cool and not twitch like Hanky did.
He uses lots of botox
They believe the levels reached in 1999 were justified and representative of the true value of the economy. In thier eyes the 2000 crash wiped out justifiably gained wealth. Buubles Greenspan didn't care how he got the wealth back for his circle of worthless cronies, only that he got it back.
Just like cheating to win, as long as you don't get caught, you're still a winner. Cheating your way to riches is the preferred and oficially endorsed method of the upper class.
You cheat and make $100 million. For your crime you pay a $5 million fine. Somehow I don't see that as an adequate deterent.
The bankster class and the rest of the uberwealthy can not create wealth through work. They must rely on the transfer mechanism of the stock market. Since wealth can not be produced through productivity, every single tick higher in the stock market is a breath into the bubble.
I remember them talking about Angie Hicks who created Angie's list. They said now after all her hard work creating her site she will become a millionaire and get repaid for all that work. NO, HORSESHIT!!
Her hard work and flawed business plan created a site that couldn't make a dime. Even after 100 years, if she could last that long, she couldn't have paid herself a few million dollars. Without the "help" of Wall Street banks looking to find some new suckers, she never would have made a dime. Her millions are blood money paid to her for allowing her company to be used. The $100 junkheap that some guy got $1000 cash for so it could be used as the getaway car for the bank robbers.
Venture capital isn't about investing in productive business, it is about finding new vehicles for financial fraud to support the wealth transfer mechanism of Wall Street. The Ponzi needs new blood to take the place of the bubble corporations that popped. To keep the game going.
Is it no wonder that the most heavily invested corporations are the ones with the least amount of infrastructure required?
Plus infinity and beyond for the best post I've read in quite a while.
"All is well"
"Deficits don't matter"
"Risk asset bubbles don't matter"
"Everything is contained"
Now go back to your jobs and earn some income so you can pay those taxes.
WHen you gonna smack down silver again so my bid gets hit Bernanke, you parasitic piece of maggot shit?
There is no beard.
ben shalom is fucking terrible at lying.
just the fact he has to come out and address it, proves contrary to his deceitful intentions.