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Live Webcast Of Bernanke Testimony To Senate
At 10 am Eastern the Chairman will go before Senate to deliver his agency's semi-annual Monetary Policy Report to lawmakers. Tomorrow he will do the same before the House. Speaking before the Senate Banking Committee, Bernanke will face questions about the nation's current economic situation. He is also likely to field lawmaker's comments on how the nation's economy will be impacted by sequestration. Perhaps someone will inquire about the Fed's exit plans, but that is unlikely as there are none. Perhaps someone else will inquire what Bernanke's closing print target for the S&P and the EURUSD are. We, and numerous GETCO synthetic momentum algos, are looking forward to both.
- *BERNANKE SAYS BENEFITS OF EASING OUTWEIGH COSTS, RISKS
*BERNANKE SAYS FED HAS TOOLS TO TIGHTEN MONETARY POLICY
*BERNANKE SAYS MORE QE MAY ERODE CONFIDENCE IN FED EXIT ABILITY
*BERNANKE SAYS VERY LOW RATES `COULD IMPAIR FINANCIAL STABILITY'
*BERNANKE SAYS FOMC INTENDS TO SUSTAIN EASING AS LONG AS NEEDED
*BERNANKE: FED TREASURY REMITTANCES MAY DECLINE IN COMING YEARS
*BERNANKE: SEQUESTRATION COULD CAUSE SIGNIFICANT ECONOMIC BURDEN
Watch it live at C-Span-3 link after the jump.
Summing it all up:
Inflation 11, Risk 10, Debt 9, Cost 9, Balance Sheet 5, Benefit 3, Gas Prices 1,
Exit 1, Unicorns 0
Full bernanke speech:
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Fuck you Bernanke!
Let the mummer's farce begin!
who's in the starting rotation today against bernanke,,,,,no knuckleballs please just straight beer league softballs
I love you
You love me
This is co-de-pend-en-cy.
how about steve leisman? will he get to throw a pitch today?
I'd love to whack a liner right off his pasty dome.
meanwhile in the metals market.........right on schedule...whom could have possibly know?
If this keeps up, I might be able to afford more sooner than anticipated.
Change the channel to 'the price is right'.
Can we make a trade: chicks don't have to fight in the army if we can banish the male spokesmodels.
Ben has a belt and 2 pairs of suspenders. Also he thinks we should get rid of deflation.
When shit gets real, you have to LIE through your beard
Unless Bernanke's testimony is something like SEC porn...
I'm not wasting my time.
this is like watching those red bull events....where the first guy flys off the peir into the water, than the next and next all with the same result...except i am sure the only differences between those redbull dudes and benny and the inkjets is the redbulls know they cant fly.....
Can one of our gutless 'representatives' ask him what will replace the retirement wealth illusion from rising stocks when the scavenger in thief forces everyone's 401k's into t-bonds. Oh right, that's how he's going to unwind the private coalition that issues our currency's bond holdings. I've got to replenish my liquor cabinet soon!
He just called Corker a liar. We now have a fully developed Baghdad Bob on our hands. I can visualize him standing outside the smoking remains of the Federal Reserve building telling us how great things are -- while in the background the homelss stand around barrels burning bundles of 100 dollar bills for warmth.
We are pounding them
That was yucky. All he had to do was say "Lehman Brothers or AIG." Or any idiot who is going to get hauled off to prison to pay for "The debt held by the people including the federal reserve" + "the unfunded liabilities, which is our promises we made to people (see also IRS)" + "Well Fannie, freddie and sallie are not debts per say, they are garentees, but yeah, we tell our IRS agents to get it all and let God sort it out"
Liesman is in the closet, polishing his stinger to the sound of the Bernank's voice. This speech is going to ramp everything out of the mudpit...and then set the stage for a real ugly dogfight later in the week.
"I hate you, you hate me, this is a codependency..." Fixed it for ya.
Sorry guys, but when I look at the 4-year chart of the S&P, all I'm seeing is up up up. When, and ONLY when, I see that chart going down, will I change my outlook for stocks.
To MDB:
~~~
- The DJIA had a low [in Dec 2008] of 8148 & a high of 8934... Making a median of 8541
- The DJIA, now, is 13845
- The median price of gasoline in Dec 2008 [nationwide] was $1.65
- The EIA 'projects' the median price of gasoline for the rest of 2013 to be $3.57
Sincerely,
BLOW ME you cocksucking sycophant moron
PS ~ How are you doing with that 'double dip' you took on Facebook at $30?
That's because of speculators, moron. What free marketers don't understand is that if you regulate the speculators, gas prices will fall and stocks will rise even more.
are you running for Congress in 2014?, or just trying to get a job on CNBC?
You didn't know? MDB is Steve LIESman.
That explains alot ~ But all I really wonder about this:
~~~
To get his beard so neatly trimmed, does Bernanke use the SUCK KUT
http://www.youtube.com/watch?v=_b4Z5Kg08PY
Or, does he actually have to look at his own image in the mirror & say "I SUCK"?
On a more serious note, everytime I hover my mouse pointer over Tylers avatar, it looks like he's showing the finger.
Now, where are those configuration options...
You want to end speculation. Go ahead and make margins 100% motherfucker. Make everyone take delivery, then who will you blame for the rising cost of food and fuel you ignorant shit? Wages matter, the vast major of folks don't have any investment in the casio, they depend on wages, period.
Tell me MDB, what's the "price" of something that you need to survive but that I refuse to sell or that is not available at all? You eCONomic theories are not based in reality, supply lines have very real and very finite inputs and the world is tired of paper promises.
You know, there's an article on Tim Geither hosting seminars on Financial Crises (now & future). Your commentary is sorely missing there!
Bet you said the same thing in 2005 about real estate prices, you douchebag.
Check the value of the dollar dickhead
Yeah, Bogus, the 4 year SPX chart is up. In fact, it looks EXACTLY like the SPX chart from 2003 to 2007. By the time you "change your outlook", it will mean you dinked around until your gains are gone and you realize it wasn't time to "buy the dip". Because BTFD means Buy The Fed's Depression.
Take a shot for each mention of inflation being well contained.
There's 30% less alcohol in my alcohol and it costs 40% more! WTF!
Use two glasses and drink them at half-speed.
See? No inflation.
My scotch is made with horse meat. Helluva kick, I tell you.
I always seem to be face down in the grass whispering "moo".
And another shot for each suggestion that QE may end at some point in the near or distant future...
He and the Fed are just doing the job Congress asks them to do.
Fuck you Krugman! (sorry, had to get that off my chest)
Paul, you must mean: "He and the Fed are just doing the job Congress asks them to do. And given the Prime Directive of the Fed's crypto-shareholders and their goals". There, fixed it for you. Always remember the think or say "and to increase the value of the shareholders", and you won't stray far. ;-)
The Fed is an independent establishment that uses the science of economics to determine proper monetary policy.
That's fucking IT Krugman ! We let sit at the adult's table once , and you come out with this shit. Get back to your glory hole.
"...uses the science of economics..."
LULZ.
You're The Best Around & Nothing's Ever Gonna Keep Ya' Down
How independent is it when it's the governments enabler to print to infinity? This Fed is political. Unlike the fed of the past it lacks integrity. Bernanke perjured himself when he testified that he wasn't monetizing debt.
The Fed will continue monetize until the US dollar collapses to pacify the politicians in DC and Wall Street.
You are using the term "monetizing" too loosely. Bernanke is using the tools he has to stabolize the economy, and he is purchasing bonds. When they come due, yes, he gets the priciple, and then he is able to reinvest. WHen we have a recovery, then he will unwind his positions, but we are far away from a recovery, and so the Fed needs to continue with its easy monetary policy, less we wind up in a worse spot then we are in currently.
What does he use to buy the bonds? Where does that come from?
The Fed is in charge of regulating the money supply, and that is how he makes the purchases.
He uses regulations to buy bonds? Regulations actually serve as legal tender in Washington?
Sure. Mandate this, ordain that, without funding it. Just fund enforcement of it. Coercion. Make people do things you want or stop them doing things. Little money is needed. You do need "gun" control though.
attempting to "stabilize" by reverting to the bubble years prior to the housing collapse isn't exactly thinking long term.
Go easy on Dr. "K", he's a first year community college student taking eCON 101.
ANOTHER SHILL FOR THE ZIONIST MURDERING THIEVES, OBVIOUSLY.
WWW.SYNAGOGUERISING.COM
"The Fed is an independent establishment that uses the science of economics to determine proper monetary policy." The Fed is an insolent cabal of shit-for-brains little twerps that use tarot cards & voodoo economics(?) and listen to the fucking nonsensical drivel spouted by other oxygen wasting fuctards like YOU to undermine the already Alice in Wonderland monetary policies of the USA. Trust me when I say, WE WON'T RUN OUT OF ROPE WHEN THIS CIRCUS SHUTS DOWN, ASSHOLE!
"The Fed is an independent establishment that uses the science of economics to determine proper monetary policy."
Is this a contest to see how many misnomers, falsehoods, and lies can you cram into a single sentance?
"The Fed is an independent establishment that uses the science of economics to determine proper monetary policy."
Lost my lunch there - fucking moron, FUCK YOU Dr. dickhead!
hint: the Fed is a dog and pony show for the BIS and the Vatican, LOSER.
called a Ouija Board
"science of economics"
bah ha ha, bah ha ha, bah ha ha ha ha ha ha.
Now, go wash the chairsatan's seed out of your mouth you dirty girl.
Dr Paul Krugman,
Are you really my dangerously dim anagram?
Paul. There's not much point trying to reason with zerohedgers. This site is great for mildly entertaining artcicles with an humorous conspiratorial flare. But if you want to find intelligent people who believe in democracy and forward thinking economic and social policy, it's probably best to look elsewhere.
I was pointed here by a colleague who read Tyler correctly - we are in the midst of a depression. However, I do agree, sometimes the loons on the comments are misguided and/or ill willed; yet I find it important to have the debate so we can find reason where reason lies, and reason, truth, and logic lie in the study of economics.
You want truth penis breath? Truth is treason in the empire of lies.
This game is over.
Troll Krugman and MDB posting in sequence??? Isn't that dangerous - like crossing the streams to take out the Sta-Puft marshmallow man?
Never cross the streams
This is classic- MDB and PK blowing Bernanke together. Tag Team
"But if you want to find intelligent people who believe in democracy and forward thinking economic and social policy, it's probably best to look elsewhere."
Exactly. Start with the French industry minister and then proceed with advocates for the economic benefits of alien war.
'believe in democracy'
Sorry, but you are misguided if you still think you live in a democracy. Should I be bothered by this? Well, actually, yes - if more people understood the illusion of choice that is the dual party system, and were bothered by voter fraud and fairness then maybe, just maybe, we might be in a better, more free position today. It is not conspirational wackiness that you are seeing here (for the most part), but people who are actually willing to look past what is fed to them and question what is real and what is right.
Forward thinking? Well, your comment reveals your apathy, that you are only interested in engaging with people who share your viewpoint. Is it not mental laziness to not challenge your own ideas every day? If there is so much forward thinking going on, why are we moving backwards into debt and loss of generational prosperity?
Holy shit a liberal circle jerk on ZH. Is this a first???
Congress doesn't ask the Bernank to do anything. They are not his master. If you read (can you read?) the statement, the Bernank is telling Congress what to do. He has just made Friday's sequester deadline a war zone.
Everyone knows cutting the budget right now is the wrong thing to do. If growth is already stalled, it would be highly unreasonable to cut growth even more.
And if you could read me correctly, then you would see that I wrote "the job Congress asks him to do", because the Fed is mandated by Congress to perform proper monetary policy, as the Fed is an organization of economists who have given their lives to the science.
Go back under your rock, f'ing tool.
Yes, of course. And the budgets that actually COUNT are everone's except the government's. And the thing that is cutting into those budgets - the ones that support actual, positive growth - is the inflation that Ben is printing to cover up the decades-long failed Keynesian experiment.
The Fed is actually an organization of shills who have given their souls to the Ponzi-masters.
(I wonder if the real Krugman is dumb enough to believe himself a scientist?)
first off - the budget will NEVER be cut. the one politician who actually does cuts will mean his party will never get back in.
as for the job "the congress asks him to do" is bording on insanity. congress was being threatened with marshal law and equivalents by the treasury, which was essentially run by a goldmanite.
What is this "cutting the budget" thing you talk about? How about we start by just not spending more this year than we did last year. That is not a cut.
The growth of .gov spending must stop.
Oh yeah, and you're a fucking idiot Krugman.
Hopefully soon to be dead fucking idiot.
I'm sorry, I may not have a Nobel Peace Prize, but I find it hard to beleive that more spending and more debt and more ransoming our future is the solution to this banker induced problem. How in the world does the government, the dollar, and the US economy hold up under these conditions? Do you think that Greece and Italy and Spain are just stupid and that we can make the same poor decisions and have it turn out differently?
How: hypothecate 30+ million Illegal Aliens, er, "undocumented workers"
er. "undocumented Democrats" FIFY
;
I'm just waiting for dick head Bernanke to destroy the dollar so then I can destroy dick heads like Krugman.
"the Bernank is telling Congress what to do"
“You know very well, and the stupid Americans know equally well, that we control their government, irrespective of who sits in the White House. You see, I know it and you know it that no American president can be in a position to challenge us even if we do the unthinkable. What can they (Americans) do to us? We control congress, we control the media, we control show biz, and we control everything in America. In America you can criticize God, but you can’t criticize Israel…” Israeli spokeswoman, Tzipora Menache
"Every time we do something you tell me America will do this and will do that... I want to tell you something very clear: Don't worry about American pressure on Israel. We, the Jewish people, control America, and the Americans know it." -- Israeli Prime Minister, Ariel Sharon, October 3, 2001
"the Bernank is telling Congress what to do"
“You know very well, and the stupid Americans know equally well, that we control their government, irrespective of who sits in the White House. You see, I know it and you know it that no American president can be in a position to challenge us even if we do the unthinkable. What can they (Americans) do to us? We control congress, we control the media, we control show biz, and we control everything in America. In America you can criticize God, but you can’t criticize Israel…” Israeli spokeswoman, Tzipora Menache
"Every time we do something you tell me America will do this and will do that... I want to tell you something very clear: Don't worry about American pressure on Israel. We, the Jewish people, control America, and the Americans know it." -- Israeli Prime Minister, Ariel Sharon, October 3, 2001
Not to mention the rhetorical hummers...
...but his name sign clearly says: "Charming Bernake"...
I thought it stood for 'Charmin', because he's so full of shit...
Fucking conspiracy! C-SPAN unavailable. BULLSHIT!!!!!!!!
Who put Igor in charge of this committee? Sanctuawy!
I kinda wonder when people, a significant amount of people, realize they are under attack by the bankers.
i can smell the shit stench from his fucking mouth from here.
fuck you bernanke, you fucking bank ass eating fucking keynestard. i hoppe your next fucking flight is on a fucking dreamliner with exploding fucking batteries mounted directly fucking under your asshole you fucking dick.
Who junked the "Fuck you Bernanke"? Is that you Geithner?
Meh, arrows mean nothing when the article goes to archive so why pay attention now.
The high priest presents before the court of the cardinals to give his state of the dis-union speech.
<This ought to be a barrel of laughs.>
Where there's smoke there's fire. And there is a whole lot of smoke coming from the Fed's mouth piece.
oh good, our monthly dose of empty rhetoric
It has been a while since I caught a fragrant whiff of fresh bullshit.
pods
This is going to get interesting: Bernanke telling us that he wants to keep printing and at the same time thousands of sell contracts in gold to test the lows....???? Why not? Did it not happen on Feb 29 of last year at 9:40am?
Bernanke vs Ron Paul 2/29/12: http://i44.tinypic.com/21o66bm.png
If I had known last week that Bernanke was to speak today, I wouldn't have called a big recovery int he gold price.
It's as if you can do your TA simply by charting when this guy talks. He opens his mouth and gold & silver hop on a double luge.
So, homework for me, figure out when this guy talks, superimpose vs. key market dates, rinse, repeat.
I GUESS I WAS WRONG!!! WTF?????
BERNANKE SAYS FOMC INTENDS TO SUSTAIN EASING AS LONG AS NEEDED
1600+
Arrest him before he gets away.
BUY! BUY! BUY!
Hello there you furry faced little cunt...How's that helicopter plan working out?
die with festering boils you maggot muncher
This Bernanke dog-and-pony show really is the stupidest thing. He'll mumble along about how things are improving and look pretty good, but the QE must continue lest we jeopardize the recovery that is strengthening but delicate at the same time. And the housing market shows how well the Feds plans are working. And Congress really needs a long term plan to curb the deficit as long as spending is not cut on anything right now. Some members of Congress will ask what seem to be tough questions, but they'll all pat each other on the back at the end.
And does he really need a fucking name tag at this point?
Kevin, quit down-ticking and get back under Ben's desk.
I think LIESman is under the desk now, no room for Kevin
Stabilité! Fraternité! Oh, hey, send in the clowns, eh?
Gold live while he blathers:
https://www.quantsig.net/live.html
This may be the first time John Kerry got something right:
"In America you have the right to be stupid- if you want to be"
http://www.reuters.com/article/2013/02/26/us-usa-kerry-liberties-idUSBRE...
I voted IN FAVOR of MDB's comments before I voted against them...
Liberals rely on stupid Americans for their votes.
Well, you're half right.
pods
It seems to me that it's not only liberals rely on stupid Americans,because our choices are:government expanding banker bnlowing "conservatism" or government expanding banker blowing "liberalism."
I cannot tell a fact.
HAHAHA. Obama's shill.
"Sequestration will be the end of the world!" They should let it happen so that EVERYONE will see the world doesn't end.
Dear Senate: "We are now in a irreversable downward debt spiral." No wait...am I actually here.... sorry. Um what I meant to say is: "The economy continues to improve...."
$1,589 already...and counting down....Ben hasn't even started to speak yet
May The FARCE Be WIth You.
Can someone go get Krugman out of the committee men's room Glory Hole? Shows about to start.
That T Johnson musta had some cocktails last night, still slurring. (I've been there, too. Not blamin', just sayin', long as US taxpayer didn't pick up the tab ;)
What a scam of a market. Honestly this is a joke that just keeps getting funnier.
Kid Gloves? check
Softball questions? check
Pandering voices? check
Curtains in place? check
Media at the ready? check
With reality contained, Project Menagerie may proceed. Good luck ladies and gentlemen.
Pretend to believe that The Fed is independent of Congressional oversight? Check
Who's the retard from S. Dakota - I don't think he even understands what he is reading. We are doomed!!
Mr. chairman after thoughtful examination of the issues concerning my constituencies my question to you is.....Boxers or briefs?
$1586/oz and Ben hasn't talked yet...
And the Aussie getting hammered, too, for no reason I can see.
:/
Listen up bernspanke,
There are a fair, and moving higher by the day amount of folk who know who you are, what you have done and where you reside you fucking poisenous little dwarf cunt.
You remember the old saying you fucking puke? "You can run, but you cannot hide"?
When this shit show ends, so do you.
Peel this fucker alive boys, and throw his stinking rotten fucking cunt carcass to the dogs. He deserves no less.
The rich and powerful have firewalls built to protect them from the mobs that will certainly want to form:
WASHINGTON (AP) -- The Supreme Court won't let Americans challenge the expansion of a surveillance law used to monitor conversations of foreign spies and terrorist suspects.
The high court on Tuesday agreed with a government request to throw out a lawsuit from a group of American lawyers, journalists and organizations challenging the 2008 expansion of the Foreign Intelligence Surveillance Act (FISA). The organizations said Americans who think they're getting caught up in the government monitoring should be allowed to sue to stop the law's expansion.
A federal judge threw out their lawsuit, but the 2nd U.S. Circuit Court of Appeals reinstated it. The Supreme Court overturned that ruling on a 5-4 vote.
The court was not considering the expansion's constitutionality, only whether lawyers can file a lawsuit to challenge it in federal court.
If you get a chance, click on this link. Greece: Blackwater mercenaries guarding Govt and overseeing police; coup feared WTF?????
holy shit dude....
The pause in real GDPgrowth last quarter does not appear to reflect a stalling-out of the recovery. Rather, economicactivity was temporarily restrained by weather-related disruptions and by transitory declines in afew volatile categories of spending, even as demand by U.S. households and businessescontinued to expand. Available information suggests that economic growth has picked up againthis year.
What a fucking sad bunch. That chair reading the rules and introduction makes me cringe.
Perhaps he can speak better than he reads.
Is that Marco Rubio's water bottle? This alien species requires very small amounts of hydration....
$1,584/oz and we're already $20/oz down from the high, when the manipulation began at 4am ET
Thank you Benny, thank you Benny,thank you Benny.... Meeting adjourned.
Next up : public speaking 101
Where are the muslim extremists when we need them to fly into this building. They could take out the real terrorists!
It's painful to listen to Sen. Tim Johnson (D) SD, with his choppy, halting speach. How do people like this get elected?
Agree, this motherfucker is awful...wtf "i look forward to hearing your vooooows"
Senator: Who are you?
Bernspanke: Who am I? I'm the guy flying around in an unmarked helecopter and carrying a gun, asshole. You can call me mifwic.
Senator: Mifwic?
Bernspanke: Yeah, mifwic - mother fucker what's in charge.
If listening to this drivel doesn't convince you to buy gold and silver, nothing will and you deserve what's coming!!!
Oh. I forgot. FUCK YOU BEN BERNANKE! AND FUCK YOU TOO JON CORZINE!~
Is Sen. Tim Johnson developmentally challenged?
Yes. He is a retard. Sorry for the retards that he is part of your special club.
Seriously. He reminds me of the movie Ted after he had his ears ripped off.
Armstrong is right on the ball.
Who the fuck is this retard ? I've pissed more ocherent patterns in the snow while shit faced.
The international bankers have taken the morality out of economics: instead of a study of producing, distributing, and consuming goods for the common good, it has become a religion, a political system of extraction whose sole inhuman purpose is “making” money, at any cost – for the bankers and politicians – who produce nothing.
In general, the university and government-connected economists are nothing more than useful idiots for the Fed. Theirs is a recipe for disaster. Whereas the American government once interfered with the economy less than the government of any other great nation, the Fed now interferes with the country’s economy more than did Stalin with the U.S.S.R's.
“Economics…has allowed itself to become captive of the technical tools that it employs without keeping track of what the tools are used for. In a very real sense, the economists of the 1980s (onwards) are illiterate in basic principles of their own discipline…they seem to get their kicks from the discovery of proofs of propositions relevant only to the own fantasy lands.” – Nobel Laureate James Buchanan
The Fed is morally bankrupt, insolvent, destroying by confiscation America's material prosperity, built from scratch in a market economy by work diligence and a humane spirit.
Who the fuck is this retard ? I've pissed more coherent patterns in the snow while shit faced.
Ok...this is wild...this guys name is Crapo!!!
Tell 'im, Crapo!