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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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No tapering, just tampering.
Dare I say, Tampaxering
Mr. Sander,
The Answer is NO Sir, excellent question
Also ask him how much leverage they have?
Bernanke to Sanders: "Bankers like Jamie Dimon being on the board of the FED like a Fox gaurding the hen house? Keep laying eggs taxpayers, the Fox's are hungry."
FUCK BASEL III , DODD FRANK you mother fucker!
LIER SON OF A BITCH!
Moar fiat to rev up the depressed economy with house sales stagnant, joblessness rising, boarded store fronts, food stamps highest ever, and on and on.....
I wish someone would ask that jack-ass about the $1T of Fed. cash that foreign banks have on their books.
The suspension of the free market price setting mechanism is amazing. The implication is that they want prices to be incorrect, but only if they are higher than they would otherwise be, not lower. Unreal. For some unstated reason that will work better in terms of resource allocation in the economy versus the free market price mechanism. How do these guys call themselves economists or even believers in markets?
"zerohedge @zerohedge 37s
Bernanke on the bubble he has created: "our sense is that prices are not inconsistent with the fundamentals" "
Arrgggh, another "sub-prime is well contained" moment to go down forever more in history.
Why DOES this FOOL have the job he has?
Bullshit.
Fed + Primary Dealers own the market, hence market CANNOT, I repeat cannot, go up and down if the owner of the markets merelys SAYS something.
ekm you have it right. Bernanke is just orchestrating his own tribe of banksters all of whom have agreed to play together for their greater good. They own the majority of the market and they wont be selling off. The only thing that he fears is the little island in the Pacific that has its own bizarro agenda.
why work? seriously? just sit in front of a terminal and trade leveraged long all day. there is no systemic risk, bernanke's got your back.
bring on zimbabwe.
We still have one more year of bull markets. I guaruntee once this guy leaves, the market will implode.
That's why they'll hire Yellen to replace him. Then they can just blame everything on a woman.
ChairPomoSatan still seething mystifying mumbo jumbo algo impulses to the HFT masses of confused but loyal electrons. Arrest him before he gets away.
So pundits (PhD potatoes like Krugman, and inveterate wankers like Steve LIESman) claim that the ramp in equities has nothing to do with FED intervention but an economic recovery; yet when Ben speaks the market and commodities gyrate, spike, and crash with every sentence out of his mouth? DOES NOT COMPUTE.
it just goes to show ppl who r invested, u guys will lose everything so quickly once its plugged.
just look how fast those mini sell offs happened, no retail investor can exit fast enough once it happens.
all bernanke cares about are the bankers, he will never let this thing die. even if he did, he would prob come out and say publicly, ok we are going to exit this day at this time, please dont panic, we cant have this market tank.
only closeure to this would be this man in prison
Check this insanity out! This is what Nikkei CFDs are currently trading at.
Japan NI225 [15,956.00] 15,627.26 15,986.00 15,649.00 [ 328.74] 2.10%
do the fed minutes even matter anymore today?
the dictator said no tapering in sight, so even if it shows many fed members want to, its irrelevant, no?
Bernank is going to print money endlessly, put it all into housing at crazy low interest rates and YOU taxpayers are going to be left holding the mortgages come hell or high water no matter what. You see it never was the crazy banks that lent the money to begin with. The real wizard behind the curtain was always the Fed.
Sound familiar?
WTF is wrong with this picture?
Enslave your young adult today permanently to .gov debt!
It's the American Way.
Borrow low interest rate loans and not repay? There is no such option for any taking their money. That debt is permanent to each and every holder no matter what. It's just like a student loan now. There is no way out. Well, a living way.