Bernanke Conference Recap: "Mr. Chairman: Do I Still Have Time To Get In The Market?"
When someone tells the Fed Chairman, Ben Bernanke CFA, Series 7 and 63, certified, that "the stock market has been hitting all time highs, it's recovered all of its losses from the financial crisis" and then proceeds to ask, even jokingly, during the Q&A of the most important monetary policy conference in the world, if he "still has time to get in," you know it has all become, quite literally, one big joke.
The joke gets even funnier when the abovementioned chief stock market strategist of the Fed responds: "we are not targeting asset prices", in direct refutation of his numerous prior statements which confirm the Fed is doing precisely this, and that he is not "measuring success in terms of the stock market" or that he does not see "anything that is out of line with historical patterns", then you know the joke's on you. Because this exchange, joke or not, is most comparable to this hypothetical one from 2007: "Mr Chairman, Bernie Madoff asset management is up 100% so far this year. Is there still time to get in?"
Fast forward to 29:48 in the clip below
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BTFD!
Hubris... it's a wonderful thing for those who need to crash.
What evil mind is Bernanke can smile and lie together.
In related news, lawsuit accuses 'Elmo' muppeteer of throwing crystal meth sex party for teen boy.
And the Bolshoi Ballet was 'one huge brothel' (BBC this evening)....ain't it grand?
Black Swan Lake would be apropos.
http://farm8.staticflickr.com/7154/6821543733_c38da558ed_b.jpg
Black swans ganging together with cargo ships in the distance, near Melbourne
Your lips move, but I can't hear what you're saying.
You're only coming through in waves.
This Wall is bigger than they could have imagined.
The Wall Street.
Wow, what a fucker Barnanke is.
The absolute fact that Bernanke not only can't deny, but has admitted; and yes, folks, the equity markets are now in an artificially induced bubble, inflated specifically to offset the housing bubble bursting, where that housing bubble was intentionally inflated to offset the prior equity bubble bursting...and so on and so forth... the equity markets, bonds, and many, many other asset classes are mis-priced to the point of being radioactive (don't touch the shit, just walk away)
Boris is finger like two balloons.
Combining a ballet and a whorehouse is a good idea. They are bending over backwards for their customers.
B/c he knows he is better than anyone else.
The evil mind lies everywhere around. Bernanke just knows he can smile and lie together by getting away with consequences. 'Do always the same but expect difference' propaganda is still a viable and profitable strategy (for bankers) and will be such as long as it pays off. It simply works. There is no viable alternative gaining a broader support. Bernanke talks and the others submissively listen. There is no chance for change until this submissive mentality transforms. Nevertheless, the sole fact that the cradle of democracy can decay in such a way is shocking. The same is valid for Europe.
The problem lies within the people, not Bernanke. Bernanke et al just mirror people's own incapability to face and handle their affairs. If this changes the oligarchic elite can go.
Man, don't run a Voice Stress Analyzer on that clip - the Bernank's shaky voice is painful to listen to. Like scared-for-his-life shaky.
He's a puppet bitch and down deep he knows it
He's a DEAD-MAN-WALKING puppet bitch and down deep he knows it - Fixed it for ya!
Ben makes Captain Queeg of the Caine look calm on the stand.
Send Ben a couple ball bearings for his next appearance.
Ben's voice is so shaky 'cause he's about to erupt into a spontaneous expression of the
Harm'em Shake
http://www.youtube.com/watch?v=lZa71FOWnxc
probably shaky from sucking banker cock for a living... fixed it for ya!
probably shaky from taking a break from sucking banker cock for a living to give a speech ... fixed it again!
That's not stress in his voice, just large amounts of bull shit trying to come out his gob at once.
This picture of Havenstein makes me sick.
Tyler, get it out of here.
Fuck you bernanke
Fuck it dude, let's go bowling.
"But seriously"
I actually thought that it was great that this question, whether in jest or not, was thrown out there. I'm just not thinking that this would have been pre-approved.
Sometimes humor is the best weapon... kind of like when Stephan Colbert was invited to the Bush press club event.
Uncomfortable laughs are fun to watch!
Ahmeexnal, we're still waiting for the dip.
And now, on a completely different channel...
What would happen if they gave a conference, and no one came?
What if, they put these videos on to count how many times they are viewed, and nary but a few watched?
What if people just ignored them as much as possible?
Like, you are disqualified from playing the game anymore, we are taking our marbles and going over here. Play alone.
Eh, it's cloudy out. May be some of those chemtrails attacking in combination with the ELF Gwen system again. Dang. Hearing that funny no-sound. Maybe it's time to get the drone out to water the lawn, and chase the gofers around.
"According to a 1982 Air Force review of biotechnology, ELF has a number of potential military uses, including "dealing with terrorist groups, crowd control, controlling breaches of security at military installations, and antipersonnel techniques in tactical warfare." The same report states:
"Electromagnetic systems would be used to produce mild to severe physiological disruption or perceptual dis- tortion or disorientation. They are silent, and counter- measures to them may be difficult to develop."
Darn off the wall stuff...keeps falling off.
http://educate-yourself.org/dc/gwentowersbybyronweeks.shtml
Don't stare at the roots, just pick the fruit
- the bernak
wouldn't be the MSM if they didn't lob softballs at these assholes. I get more critical questions out of my 3 and 5 year olds than you'll ever hear at these circle jerks.
You are right. I know I shouldn't expect more from them or the event, but I watched as much as I could stomach and just couldn't get past the ambiance of the thing. There was our monetary king Benjamin and his jesters, shills, and assorted other sycophants doing their bit questioning without questioning. I couldn't even get beyond the chair he was sitting in, where in hell did that come from?
Barnes made both PSU and Wharton look bad with that question.
half the questions today were asked by stuttering 12 year olds.
we're fucked. Totally fucked. Panic.
LOL....fonz....panic.................wayyyyyy past that already.................shit at least if i could panic id know i had some emotion left....................this long drawn out ordeal has left me flat and jaded.................................
I fear I am starting to become skeptical....
ha ha....................nothing to fear about anything anymore.............all is well......................uncle ben is taking care of us...................move along..............take out a home equity line.................lease a new car.......................add to your 401k....................all is well.....all is well.....................
Here is the good news Kito...me and Doc Engali thought you disappeared a while back and went off the deep end but you are back now. Here is the better news for you, I am now concerned at Doc's lack of presence. Here is the worse news. I am pretty sure you guys are fine and I am whacked out.
Relax fonz......all is well......we are all fine.......your house value is rising and your new bathroom adds much equity.....go buy a 12 pack....with your visa.....0% Apr till April 2015......
I trust the number of ellipses are equivalent to the number of lines you're doing
If you aren't whacked out at this point, you aren't sane.
My way of thinking is that if central bankers really could control everything we'd already be at DOW 36,000. These myopic bastards only know how to blow bubbles and manipulate every metric until it all collapses around them - look at the market for the past 15 years, a rolling series of bubbles. Central banks are now all in and they know it - they have to bang EVERY close and sell the vix hard daily. The vix dropped 10% today...why? The market is not allowed to correct - there are no sellers because the hedge funds are closet indexers leveraged to their eyeballs.
It will give way. I'm willing to wait the bastards out.
I forgot to wait. Am distancing myself before they fire the signal flares, because... what are we waiting for, REAL unicorns?
Anyway, you're absolutely right, if they really could levitate things we'd be WAY up. There's a BIG difference between levitating and propping!
Took Ben four trillion just to reflate from 2009 - he doesn't have another four. Fed can't print jobs - or growth. When the market rolls over what will we have to show for all that money?
Labor participation rate is screwed. This country can neither afford nor stomach any more "value" than it already has at the current minimum price of labor. Hire any kid, or anyone for that matter, for anything, and that means greater input cost for whatever you're selling -- and the common consumer's household budget is already struggling as it is. So that's a big weight against job growth.
I tell people my age to just forget about jobs, go into entrepreneurship. Do or make something that increases efficiency on your customer's scale. (Nevermind that they're usually too focused on an amusement-centric existence to fathom the concept...)
What else is there? Eliminate the minimum wage? I've already circumvented that by working under "non-employee compensation" here and there...
Grey, and then more so, black, markets will abound.
"Grey, and then more so, black, markets will abound."
Just a few days ago I had a long conversation about what happens when people feel they no longer benefit from participating in the system. Once people start to work under the table, barter and pay cash they realize how liberating it is to be off the grid and not obsess about their FICO score.
Now, I want to open my own business. I really do. But it SUCKS to be a small business right now.
Same goes for having kids. I'm single with no kids. But it SUCKS to be a kid right now. And a parent.
I'm young enough that I'm willing to gamble on holding out for awhile in both cases here, should things improve. Or collapse, and then improve.
But for now, temp jobs and whatever else I can manage on the side. Bare minimum to get by on this system. Its days are numbered. Better to just invest in my own skillset for the time being.
If you're young, single and healthy the world is your oyster. It goes fast, don't worry too much and find a woman that loves to cook.