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"No Tapering" - Bernanke's 'State Of The Economy' Testimony - Live Webcast
Update: Bubbles Bernanke slams any hopes for tapering goodbye, as long predicted: PREMATURE TIGHTENING RISKS SLOWING OR ENDING RECOVERY
Bernanke's quarterly hearing with the Joint Economic Committee this morning will be today's must-see event (with FOMC minutes a close second). It seems the equity market has no fears but many in the high-yield market are anxious for the words 'frothy', 'taper', 'bubble', 'clueless', and 'I plead da fif'. While Bernanke's words will be the most important, these hearings typically include their fair share of ironic ignorant 'humor' from the politicians who sit in awe of the most powerful man in the world and his CTRL+P prowess.
Speech highlights:
- BERNANKE: PREMATURE TIGHTENING RISKS SLOWING OR ENDING RECOVERY
- BERNANKE REPEATS POLICY TO STAY ACCOMMODATIVE AS LONG AS NEEDED
- BERNANKE SAYS MONETARY POLICY PROVIDING SIGNIFICANT BENEFITS
- BERNANKE SAYS POLICY CAN'T FULLY OFFSET FISCAL DRAG ON ECONOMY
- BERNANKE: HIGH RATES OF UNEMPLOYMENT `EXTRAORDINARILY COSTLY'
Full speech:
The real Iron man:
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Fuck you, BernanQE!
Burnyankme
The fukin fuk
Liesman with his nose up his ass, thinks he's important
I hope one day in the future with my merry motley crue, i have the opportunity to cross paths with some of these fucks (criminal elite & traitors) in the forest when it all goes to shit...
.
See you guys by the giant red oak.
I think our Federal Reserve's involvement in the modern economy has given the markets more structure. The chairman's policy decisions now act as a reference point for consistent valuations across global stock and bond markets, which allows investors and money managers to make more informed decisions. Also, inconvenient market phenomena such as 'volatility' are slowly being phased out in the modern economy, with the VIX making new lows almost every month.
That you even dare to speak of "markets" shows quite clearly that you haven't noticed anything since 2008 at least ...
Yeah really what a douche. Go home
Theres gonna be a Oklahoma type disaster in the financial markets one day....no one will see it coming and most people will become casualties...well except the J-holes in the know.
i dont advocate violence - at all - but your comment about "running into these guys" someday reminded me of Scarface and the "ReBENga" scene...
Job Economic Picture...
No no...1way...
.
Would just want to ask them a few 'questions':)
The people "in the know" are not Jewish.
SMG, that was a very enlighting non-racist comment. Surprised to see it was still downvoted.
Structure? You mean like one of them high rise buildings in China they throw up in 3 days & then wonder why its foundation moves and eventually collapses?
from the politicians who sit in awe of the 'most powerful man in the world' and his CTRL+P prowess.
.
But just remember - 'most powerful man in the world' is the guy that whispers into Ben's ear...
What the MSM perceive as the "wealth effect" falling on the masses like a gentle rain in fact is Ben urinating all over them.
The New Federal Reserve
“One vast and ecumenical holding company,
For whom all men will work to serve a common profit,
In which all men will hold a share of stock,
All necessities provided,
All anxieties tranquilized,
All boredom amused”
Network, 1976
Unfortunately, we all know how this ends for Howard Beale, the voice and spirit of the truly free and independent. He gets sacrificed on live TV taking five slugs to the chest in a blaze of gunfire.
MDB you said it well!
Bond market is not playing along Bernanke. Ouch...
You can THIS "structure"?
http://2.bp.blogspot.com/-TtARcmxZzN4/UZzX_G29YzI/AAAAAAAAOtA/zxoHDpUuwu...
Most people with half a human brain call it a BUBBLE!
This is the dumbest thing I have ever read.
Yet look how many suckers he caught. Seems that no matter how many times he trolls these waters, plenty still take the bait.
The really sad/funny thing is that the .fed d-bags who monitor this site say, "We really need a guy like MDB to help with our 'social media outreach'. He's good. Real good."
MDB the chum king of ZH. A true gift. I +1 you for the frothiness.
Keep collectng your bonus dollars for posting such idle drivel. I just wonder who it is exactly that signs your checks? Perhaps it's ACORN or the SEIU?
And Again....Still counting
http://www.youtube.com/watch?v=nBg1Z3Qsm1c
When BS Bernanke talks, people listen.
http://www.business-superstar.com/super-tools/10-business-blogs-that-you-need-to-be-reading/
Why, I don't know.
I bet the Bernanke can't stop jerking off to that Geico commercial...yoiu know the one(s) where the "money man" cruises around on a boat (or motorcycle) just handing out money. Except the Bernanke probably imagines handing out money in this fashion to his butt buddies Dimon, Blankfein, and/or pretty much everyone on the special list who get the "private" meetings details.
http://www.youtube.com/watch?v=kCeEN-VVSac
Pretty sure this entire video speaks to Bernanke on a fundamental level ("gotta keep speedin" = "gotta keep printin"), but :43 - 1:30, with the cash literally being chucked into Miami's Intercoastal Waterway, seems to be the real intent of his behavior. He just really loves the power in what he's doing, and doesn't actually give a fuck what the effect is.
Premature E-Jerk-ulation
Naw, I doubt that he ever spends more than five minutes a month thinking about monetary policy, and that time is spent trying to remember his instructions before a press conference.
Bernanke is not sure if his head is in or out of his ass or if he will or will not remove it in the future
BB: "We're fine.
Thanks for coming."
ben will not pull the oxygen cord yet! forget about ending qe3, that's all they got in place to hold the carnival together...Yesterday we predicted a rally in PM's..and here it is: silver up 75+ cents already, let's hope the bottom is in place...
http://zysites.com/silververitas/
"let's hope the bottom is in place"
I would prefer a collapse in USD prices of gold/silver personally, because we know what comes after.
from 2011 levels, price of AG/AU has collapse already quite a bit, so, let's hope what comes after is sooner...
ben will not pull the oxygen cord yet! forget about ending qe3, that's all they got in place to hold the carnival together...Yesterday we predicted a rally in PM's..and here it is: silver up 75+ cents already, let's hope teh bottom is in place...
http://zysites.com/silververitas/
I apologize for the double post, my pc is messing up
This scam is fumbling, you can tell by his shaky voice answering the questions. He sounded clueless as ever! Struggling BS.
Bubbles Bernanski!
This will come to be known as Bernanke's Folly!
http://2.bp.blogspot.com/-TtARcmxZzN4/UZzX_G29YzI/AAAAAAAAOtA/zxoHDpUuwu...
Memorize that term: Bernanke's Folly!
Fire up those engines...on your mark....set....GO!
Bernocchio the liar - jittery, nervous, shaking, voice crackling - because he KNOWS the real state of the economy and what a farce his policy is right now.
Ms. Vice Chair..... who gives a shit about Realtors? WTF...... you've got to bring asset sucks into this now too? Realtors are an unproductive part of the economy, like bankers. They produce NOTHING. Shows how stupid you are, beyotch!
"Bernocchio the liar - jittery, nervous, shaking, voice crackling - because he KNOWS the real state of the economy and what a farce his policy is right now."
The perfect front man for the nearly invisible elite. Ben has an excellent ability to mimic human emotions in front of a camera.
The Bernank will never stop printing, unless they are ready to pull the plug on the whole system.
One day, one of these days, one fine day, someday - the day will come!
No it will not. The Fed will never stop printing. It can never stop printing and it will print more and more and more until the country implodes in a hyperinflationary mess.
Probably won't happen this decade although I could be wrong. I think we have a long way to go but we will get there on the only path available - the road paved with ever more fiat currency.
That bernankinator is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until we are all dead.
word
they will pull the plug, its only a matter of time, that's why the banks are going all in on buying up assets for the long haul through the next dark ages. 22nd century feudalism, it's the new drink
They wont pull the plug. The reason banks are buying assets is they know that the printing will continue forever and they got the money first. they can buy all those assets before the effects of the inflation hit them. With money printing the winners are always the first recipients of the fiat dollars. The losers are those that receive the dollars last (think us).
thats 21 century feudalism, I'm talking 22nd century, think your kids and their kids future, they're the ones who are truly fucked
I heard a story, maybe true maybe not, that in New York City they have to keep the water system at full pressure all the time, because the pipes are so old they'd all collapse if the water was turned off. I think QE is like that water.
It might make more sense if you envision all those leaks and users syphining water from the system. They have to pump more and more and more water into the same system to counteract all the leaks. Eventually there is just water everywhere and so it will be with money.
everyone will end up with all the money they can handle but they will not be abe to buy anything with it.
He will keep enriching his corrupt crony TPTF untill they have enuff money to live in Mars.
Tapering? No, no, no. There will only be "tapeworming" - sucking the real wealth out of the system.
Doc, you are 100% correct...the economy (which means housing to Ben) is in stall speed right now with sales plunging and prices slowly falling again.....if QE slows and rates start to rise....just the thought hurts Ben's head. QE will not end on his shaft..he dopes not want to go down in history as the Guy who Pulled the Plug.
Our Leader Will Speak. Quiet Everybody. And BTFD.
Picture caption: "I find your lack of QE disturbing..."
Fuck you Benron and the Fed board of criminals.
"I LOVE YOU BEN!!" Bartiromo screamed as she threw her panties at Bernanke from the audience.
Icky!
Predictably the panties stuck to the ceiling due to a viscous tacky discolored malodorous discharge.
Minutes later the room was evacuated due to a suspected sewer backup.
Maria Fart-aroma.
What an image... Very gross.. I want to pluck my brain out of my head.
i print money for a living. no education required. just hit CTRL-P.
I graduated Princeton and all I got was this sore thumb and index finger...
Of course they will keep printing. Why ask a question you already know the answer to?
The algos' response to trigger words must be tested. That's the only reason for these press conferences.
Forver
Let them eat QE
... and the lowly pony he rode in under, too!
You know what they say. Central bankers can stay insane longer than you can stay solvent.
I don't want to fuck Ben, he has been fucking me so long I am sore. Make the rape stop, please!?!
Bernank and company dance to the Treasury ESF/PTB tune.
Snore... Bloomberg TV is covering this testimony complete with talking and bubble head input. They have nice makeup for the shoot. http://www.bloomberg.com/tv/
Investment tip: BUY AMMO in sealed crates. Zero risk for loss (sans moral hazard from the shit staines in D.C.), returns of 20%-100%+ within 6-24 months. I'll be offering allocated cases in secure storage. I promise I won't lease it out to the Department of Homeland Insecurity. ;)
"zerohedge @zerohedge 1m
BERNANKE: PREMATURE TIGHTENING RISKS SLOWING OR ENDING RECOVERY - lol tapering"
What recovery???????????????????????????????????????????????????????????????????
Comatose patients are forever recovering. Don't you pull that plug until someone finds the gold I mean the Will.
Moaaar son of a bitch, give us MOOOOOOAAAAAAAAAR!
Meh, who cares... the muthufucking DOW is going straight to the freeeking moon!
Breaking out the 16K hats bitchezzz
Can't find it, I'll just use the prepared DOW 17000 hat, that should do ...
GS shares jusst jumped .60 on nice volume ... might as well ride the gravy train while the ride'n is good !
this guy is such a fucking asshole, i really hope this man ends up in jail one day and never sees the light of day again.
this jackass continues to say lies after lies, he continues to fuck over every american not in the 1 percent, and he actually believes his fucking qe shit is working.
hey jackass, ur plan sucks, all it does is inflate stocks prices while doing NOTHING FOR THE WORKING MAN IN AMERICA.
MR BERNANKE, IF YOU ARE FOUND DEAD ON THE STREET ONE DAY, I WILL NOT FEEL BAD ONE BIT FOR YOU, YOU ARE A TERRIBLE FUCKING HUMAN BEING, WHO ONLY CARES ABOUT SUPPORTING WALL ST, BECAUSE YOU ACTUALLY BELIEVE THAT IS ALL THAT MATTERS.
i hope one day you and your banker buddies are lying in the street with lots of blood u fucking asshole.
FUCK YOU BERNANKE YOU FUCKING JACKASS, DIE DIE DIE
He thinks moar printing helps the econ when in fact it's killing it.
He thinks moar printing is lowering unemployment when all the BLS does is lower the denominator.
Not one politician will say a word cuz they know Benny butters their muffin.
We are so screwed.
The Beard's hands are tied. Even if he did not enjoy it, which I am sure he does, the man does not want to end up suicided by a double tap to the back of the head.
Bernanke is a tool is every sense of the word, the puppeteers pulling his strings would not hestiate for a split second to snuff that motherfucker out. He thinks about that every time he presses Ctrl-P.
I'll remind you, that as a board member of the BIS, Bernanke is IMMUNE FROM PROSECUTION BY ANY LEGAL BODY.
There is no entity on the planet with jurisdiction over the BIS, by design.
So, not only will he never see a jail cell, he'll never even see a courtroom.
https://en.wikipedia.org/wiki/Bank_for_International_Settlements
wohooo recovery happening.. everybody can wipe his arse with money
and you dont need fueling your car with gas because the price will so d*mn high, put your money into the petrol tank
Hes a destructive prick who should be dethroned, and imprisoned along with about 600 of his butties
...dethrone the "dick-taphone', hit it in its funny bone, thats where they expect it least....
(apologies to Manfred Mann and to Bruce Springsteen)
The face of the faceless cartel that ruins countries for ill gain.
Ye commenters are very negative on Bernanke, but he's doing it for the children. Think of all the hungry mouths if the Fed couldn't print dough and feed it to the welfare class.
QE4EVAMFers
Listening to these clowns make me want to find something to off myself.
If you're going to off yourself make sure you take some of the more destructive members of society with you.
Politicians, i trust you all to remember to pet him with the grain of his hair and not against. Never against. Now carry on.
this new normal is grerat. stocks and bonds go up indefinitely. everyone can be a genius. nothing like small cap gaining 10% in 3 weeks. its obvious the value of the american economy is worth more now than just a short while ago.
Sharp Fucking Contractions
IF THIS JACKASS WILL NOT TAPER UNTIL THE ECONOMY RECOVERS, HE WILL NEVER FUCKING TAPER, BECAUSE THIS ECONOMY WILL NEVER RECOVER UNDER QE.
WE NEED FREE MARKET, NORMAL INTEREST RATES FOR A RECOVERY TO BEGIN. UNTIL THEN, NO RECOVRY, SO KEEP PRINTING YOU JACKASS, BECAUSE WE WILL NEVER RECOVER.
AT LEAST GOLD IS UP 30 PLUS TODAY.
FUCK YOU BERNANKE
"They" don't need a recovery. They merely need diversions while they steal the remaining wealth not already in their hands.
We have lift off, lift off...god speed.
I'm convinced now ... QE will never end.
Fuck you Bernanke, Geithner, Paulson. and Obama. Jail cells would be too kind.
Jail cells would be too kind.
That depends on who all, or what all, is in there with 'em.
I'd love to see the Bernank caged up with Charles Manson and Elmo Blatch:
http://www.youtube.com/watch?v=MtnDFS0RhuY
...and throw in our buddy Bearwagon for comedic torture.
Tyler knows 'Chair Satan', better than he knows himself. ;-) That rat bastard is never going to take away the punch bowl.
What happened to diminishing returns? The Fed doesn't even have to do anything now and the market just goes up 250% a year.
there is nobody left to believe their bullshit except the ones who espouse it with a full marching band.
In professional propaganda it doesn't matter much if people believe what you say. It works nonetheless.
You have proof of that claim
I don't need to reinvent the wheel every fucking day, dude:
http://www.whale.to/b/bernays.pdf
There, that should fix it!
BERNANKE: BANKER BONUSES WILL BE HUGE AGAIN THIS YEAR. FUCK THE REST OF Y'ALL
Absolute power corrupts, absolutely. Those with access to the "free money" spicket are "smarter than you". This will certainly accelerate the debt-fueled collapse of civil society and black markets. Fine with mine. bring it!
High unemployment is needed to temper inflation. That is why banks are holding and not passing on the free money. High unemployment is policy. Covering it up is policy. covering up high inflation is policy. Squashing PM's is policy. They simply do not care about people. Maintaining power and control trumps all other considerations PERIOD
The end game is now.
Blunt truth is that lending money in the form of ordinary high street loans to SMEs or individuals for business expansion is not the best guarantee for returns right now. The Yen carry trade is, or stocks, or commodities. All are being driven inexorably higher by the twin stupidites of ZIRP and loose money (in the US, Japan, Europe and the wider world- pretty much everyone is at it).It's not making anyone richer (except the traders), it's bleeding the man on the street dry to pay for the rising cost of food, fuel and minerals in everyday goods which are vital to all economic activity.
Eventually there is only one end point: Default - both personal/business and national.
i dont understand why the market is up triple digits on this non news.
the market did not drop a point thinking tapering was going to happen, so why would the market act like its a surprise that he did not mention tapering in the future?
did anyone actually think he was going to go infront of all of wall st and say he is going to taper?
he knows that would send the market down 700 pts. he will never say anything like that, this should be a non news.
o btw, s&p to 1700 by friday dow 15,800 by friday and nasdaq 3,600 by friday.
FUCK U BERNANKE PLEASE DIE ALREADY
HE IS A DEAD MAN. HE SOLD HIS SOUL LONG AGO. HE BELONGS TO "THEM" AND ALWAYS HAS.
If I was ben..and everyone of these meetings I knew I had spent billions more that I can never repay from growth proceeds....I would be scared to death to speak....I can´t lie that well....but he can...and unfortunatly he is getting very good at it...i would think at some point your soul means something...your life and what you did with it....he knows what he is doing...does he really believe he is doing what is right....????? I doubt it...I would find it hard to sleep at night knowing what I was doing....time will tell...but we can´t spend our way into a great economy...it takes desire and people with that desire to make an economy...to fulfill their dreams....printing money is not how you do it...
Gold is off like a bat out a hell. Wow, something that actually looks normal.
And it was crashed just as fast. It's a joke watching this action as the Bearded Clam lies through his teeth some more.
We can see just how addicted the markets are to QE. Look at this 'blow off top' on shitty housing numbers, and basically no news other than Bernanke today. F**king sickening!
If you listen really closely, you can almost hear the simpering sigh of the Kleptocratic State as billions more wash gently into its coffers, at the expense of price discovery and the people, everywhere.
If you liked the S&P at 1350 when you knew the Fed was buying everything, you'll LOVE IT at 1700 when the Fed is still buying everything! Now that's an effushunt markit!
Edit. Oh yeah. FUCK YOU BERNANKE, DESTROYER OF WORLDS. They set the sheep up for this so good, with their Modern Markiting/1984 Techneeks, that they be led gently to slaughter. Forever. The people don't know how to take a position, much less fight back. Post-modernism and every "consumer innovation" since 1950 was just a tool to destroy values, so the rich could do what they want, TO whoever they want.
Bubble Bernanke: We will follow Japan. Our economic policy is an academic experiment with Japan. If Japans blows up we will realize we were wrong.
WHAT FUCKING RECOVERY?
I suppose it would be refreshing if Berstinkie came clean and said something to the effect of:
"We are doing our damnest to maintain the illusion that we working for the benefit of the people of the United States of America while we suck the life out of them. We will chose the time of the next leg of the collapse which will lead to a global technocrat controlled government, global currency and slimming of the elitist ranks. Until then, while it looks as if our actions do not follow the words that we speak, they do in fact follow the path toward our ultimate goal."
The most GROSS of ironies is that the vast majority of elitists who have been conned into believing that the (overly used) "New World Order" that they seek will bring in an era of peace, prosperity, preservation and equality for all humanity. The plan, as designed by its creator, has been intended all along to bring in oppression, death and tyranny as never before seen on earth.
The conned elitists will suffer the greatest as they are ultimately betrayed.
Like I said before, if you see gas close to $5.5/gal for 3 months, then sell everything because then QE will end, otherwise just forget current noise.
What a bunch of wet blankets. This party is going to last forever!
Just like they always do!
Right?
I'm right, right?
He's saying nothing, absolutely nothing.
DavidC
JOKE OF THE DAY:
SELL ASSETS! hahahahahahahahaha
NO EXIT MOTHER FUCKER
If it's sustainable!
The $ can't decide what to do. First it sells off, which is what it should be doing, then it reverses because every C/B on planet earth is buying it to jump in the stock market. Risk currencies are getting crushed and they should be rallying with the equity markets. F/X knows it's all bull shit.
His voice is shaking.
DavidC
The Bernanke quavering voice again?
Must be that little bit of conscience that knows he is taking the Titanic into the iceberg on purpose.
Yeah, these guys rarely show any emotion. Oh well, fuck it. They will continue to print until inflationary expectations get out of hand and probably then too.
No one is guaranteed a savings rate. Fact is you are guaranteed no return courtesy of .gov repression of free markets. Y'all are, in effect, paying .gov to supress free markets.
Who has the problem here? Bernanke or YOU for being idiots who put up with it?
America, home of overweight Walmart shopping voters who don't know jack and don't give a rat's ass. And we think the Chinese laborer is abused? lol
QE has not worked. Bernanke HAS NO PLAN.
Wow that was close - someone asleep at the terminal let gold get above $1,400 for a few minutes. Slammed back down - all is fine now.
stateside
Massive slam underway now in US- paper-based fraud pits...
Entire continents to whom the future belongs rejoice.
/hint: none of those continents touch the atlantic ocean
That kind of super rapid spike then fall shows how paper gold trading algos have disconnected physical from it's true price point.
" PREMATURE TIGHTENING RISKS SLOWING OR ENDING THE VIRTUAL RECOVERY".....for the sake of accuracy.
All the evil ChairSatan is doing is making sure there is NO recovery for the 99.9% and their great great grandchildren
There is a positive correlation between the amount of quanitative easing and the amount of times Jim Cramer's voice cracks because his charitable trust is up so much money.
Pinocchio Ben back on stage to fake out the American public:
PREMATURE TIGHTENING RISKS SLOWING OR ENDING RECOVERY
No Ben, this is a lie, the truth is that you CANNOT stop buying bonds because there is no one who will buy our debt. That is a fact; the rest of this is bullshit! Only the American Congress would believe this nonsense! Slowing the "RECOVERY"?? Has anyone seen anything in the Macro news that indicates there is a recovery? Of Course not and yet no one questions him about this bullshit!
Greenspan would have tried to cool this market down, either Bernanke doesn't understand what he is doing, or he is reading his own press clippings, or he is wondering why he doesn't have a nobel in economics (this year)
LMFAO!!!
Dow Jones falls 100 points in 10 minutes.
Fire up the printers Beranke you fucking asshole.
....and off topic, but interesting:
"The DHS appears to have finally found a use for all those bullets it’s been buying. At a Tea Party protest outside an IRS building in St. Louis yesterday there were no regular police – only armed Homeland Security guards."
Just the brown shirts getting broken in; bet their guns were loaded with hollow points - not target practice FMJ's.
That's all he can do is HINT about it. He has no intention of significantly easing QE while he is Chairman.
The Bernank is doing such a wonderful job it won't be long before we're heaped with cash and we'll have piles of it around our homes, so much of it that we won't thing twice about burning it for heat or using it to wipe our arses. \sarc
lol - bullish for wheelbarrow sales.
Go long wheelbarrels and paper for burning.
they've jacked the market up 15% so far this year, i expect Congress will be giving him high fives, and the phony housing numbers support a phony rise in home values to go with the phony engineered profits on walls street. yes we still have to direct some money to consumers (fiscal drag) in order to keep the wheels turning, but it clearly is Greenspans supply side economy, build it and they will come, even if they come with borrowed, entitlement, fiat dollars. this rally and this meeting share the auspice of hubris, which always leads to the fall...
A cockroach keratin armour would be more suitable than the metal one considering the subject.
There is no exit strategy. I really think he is making this up as he goes along.
https://www.youtube.com/watch?v=rw2nkoGLhrE