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Bernanke Press Conference: Live Webcast
With markets now showing their true colors (pricing in the inevitable beginning of a taper), the next hour or so of double-speak and talking out of both sides of his mouth may well be the most important in the career of Ben Bernanke.
*BERNANKE SAYS JOB GAINS, HOUSING INCREASED CONSUMER CONFIDENCE
*BERNANKE:MOST FOMC PARTICIPANTS DON'T FAVOR SALE OF AGENCY DEBT
*BERNANKE REITERATES THAT THRESHOLDS AREN'T TRIGGERS ON RATES
*BERNANKE SAYS MONETARY POLICY WILL CONTINUE TO SUPPORT RECOVERY
*BERNANKE SAYS FOMC `MAY VARY' PURCHASE PACE ON ECONOMIC DATA
*BERNANKE: FOMC MAY `MODERATE' PACE OF PURCHASES LATER IN 2013
*BERNANKE SAYS FED MAY END PURCHASES AROUND MID-YEAR 2014
*BERNANKE SAYS FED WILL EASE QE PACE IF ECONOMY IMPROVES
*BERNANKE SAYS PURCHASE REDUCTION REPRESENTS FOMC CONSENSUS
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The 7, 6.5, these are guideposts to tell you how we are going to be shifting the mix of our tools as we try to [crash] land this ship on a -- you know, on a smooth -- in a smooth way into the -- onto the aircraft carrier.
I just can't keep up with all these AMAZING analogies.. cars with gas and brake pedals.. and now ships landing on calm waters.
Watch out because if he gets any more nervous, he'll be pulling out his pecker, waving it about, pants about his knees singing God Bless America while the guys with the white coats and nets come for him...
Q: We're wondering why you think somebody out there ain't getting your message!
Oh, fuck me.....
Quote of the day.
I thinking he might end up going full-Dwyer.
My aircraft carrier is in a ditch. I will move to the back of the bus while looking for a landing strip after I eat my peas.
These fucking idiots always lose their train if thought when using the landing on aircraft carrier analogies. LOL
Squirm baby squirm... Bullshit inferno!!
Squirm baby squirm..
"Inflation that is too low...." nice
What the Fuck is Bernake talking about? My health care insurance is by itself enough to cost me 2% more this year for my overall expenses. I juat did the calculation and with my new premium, I am going to spend three per cent more this year than last....and that's IF everything else stays the same- which it isn't.
Insurance, food, gas - none of that matters to the elites because it is such a small expense for them, and that is precisely who Bernanke and the FED are working for.
Its not a Live webcast...its a Lie Webcast!!
As the ancient Greeks would say (before they defaulted) : it's all one gigantic theater play and enjoy the show while it lasts. Soon the curtain will fall and that's te right time to get those rotten eggs ready
This is a last call at the bar, free drinks ending at 3am, any drunk degenerates who want a last few rounds, come now while they are still being served, we have a ship to sink after-all, I wonder how many life-boats this shit has.
we are seriously fucked.
BEN! You cannot increase confidence by propping the markets with debt!
BEN! This is the heroin scenario! You can't get an addict to quit with more heroin!
BEN! Heroin or a fifth of whiskey do not give you confidence, they make you a wasted fool!
Bernanke Live Shitcast.... It don`t stick on me man..
Could this be the day? 10 year yield @ 2.33% and climbing!! Dow has had a 332 point swing from top to bottom, 4 times in the last hour - Could it be the market barfing its guts from so much Bernanke FINGERING???? BTW, he sounds like he's on the verge of breakdown.
THE BEST PART OF THE DAY IS NO MORE MEN'S WAREHOUSE COMMERCIALS WITH ZIMMER!!!!
Uh, how do you like the way you look now?
aaaahhh haa haha ah ha.
The sharks are eating each other. Gonna be a bloody pool this summer.
Btw, if you need to drink a bit more, JPMorg has called for the EU to become, essentially, a non-democratic power block:
...strong executives; strong central states relative to regions; no constitutional protection of labour rights; an end to consensus-building systems; and no right to protest if unwelcome changes are made to the political status quo. "The Euro area adjustment: about halfway there"
You can find a non-client only version here. If you need a translation, my fellow Americans, JPM expects that these will be in place in America before Europe, if they're not already being structured.
Might want to look a little closer into what the Red Governors and so on are actually doing: ending the power of the Unions is only phase 1 of the plan. Phase 3 and you get no Constitutional protections for right to assembly and so on.
"Phase 3 and you get no Constitutional protections for right to assembly and so on."
If (when?) that happens the comments board here at ZH will be designated a point of assembly.
nice reading between the lines of that report.
i had to re-read that section on pages 12-13, and now i understand how you revised the text:
"..it has become apparent that there are deep seated political problems in the periphery,
which, in our view, need to change if EMU is going to function properly in the long run."
the irony is that JpMorgan is using Germany as the exemplar/leader of EU forward, yet Germany has very strong unions (relative to peers) and strong constitutional protections of labour rights. freedom of assembly is also a basic right [pdf], although police will be police...
Ben - What if you go to land the jet on the aircraft carrier, you find out that the Chinese have already bought it and deny you access ?
"...in ther career of..." ?
I guess even criminals have "careers".
Every time he says he "hopes," I get worried. Well, happy.
Ben just fumbled the MBS question.
Badly, badly badly badly badly badly badly badly.
He's buying the shit and can't expalin it.
No no no no no no no
NO
Well, he just made Bill Gross's day, no?
They may do this, they may do that...
Hmmm well after some careful consideration I think I will Buy The Fucking Dip.
WOW! The fraudulent MBS market is quite healthy and functioning well? What the hell is this guy talking about, the MBS market is what crashed the goddamn system.
I cannot get out of my mind that past press conference where Bernanke defended the Cyprus bail-in's (deposit confiscation), and didn't say that it wouldn't happen in the U.S. when he was asked directly, twice.
I think it's entirely possible that if there's a major change in the government's role in the mortgage market that we might see a different structure in mortgages. And you know, other countries have different structures, and they have, in many cases, the same or similar homeownership rates as we do, so it's possible that we may find that a different structure is better for some people.
Hint, wink, nudge..
this guy is destroying, decimating any confidence anyone might have still had left in the Federal REserve. We are so, so, so screwed.
it is...time to get out of the system. this is a train wreck
Debt deleveraging would have occurred in 2008 and even before if the FED and the CONgress hadn't fueled the debt bubble then bailed out the banks and corporations that created the leverage to begin with!!!
And since 2008 you have created another debt bubble and encourged leverage all over again!!!
This is not rocket science!!!
Hello Mr. PhD!?!?!
I got here late...was it Hilsenfuck, then Krugman on the train?...er...not that there's anything wrong...yada
We learned absolutely zero new things
As usual, Benny said nothing of any value. We are joining Japan and Europe as a bug in search of a windshield. How can the FED ever make logical decisions based on statistics and data that are warped and manipulated?
Fuck you bernake, corrupt POS!!!!
Lying little monkey..
Life in prison for Bernanke.