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Ben Bernanke's Last Press Conference Ever - Live Feed

Tyler Durden's picture





 

The taper has begun... but the uber-dovish rate guidance is winning for now. We are sure there will be tears as reporters' emotions spill over at the loss of Main Street's all-knowing oracular savior. Once again, for the benefit of those not paying attention, "QE is for Main Street", "The Fed does not target equity market levels", "Tapering is not tightening", and "Forward guidance is effective." The king is dead, long live the queen...

 

While you prepare for that.. we wonder what these two are chatting about?

 

It would seem he has a lot of 'splaining to do...

 



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Wed, 12/18/2013 - 15:28 | Link to Comment HedgeAccordingly
HedgeAccordingly's picture

he is chilling.. bonds actually rallyhing - http://hedge.ly/18PkHkw

Wed, 12/18/2013 - 15:40 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

"so, what did YOU get after you destroyed the economy with easy money and letting the banks run amuck?, REALLY? Holly fuckin' shit, old man........I hope my parachute is THAT fuckin' big!!!"

Our legacies are sealed!!!

<High fives and goes to Scores>

Wed, 12/18/2013 - 15:43 | Link to Comment Four chan
Four chan's picture

OI!

Wed, 12/18/2013 - 15:48 | Link to Comment BKbroiler
BKbroiler's picture

wow do I feel dumb.  I keep reading this doomer site that says they'd never taper.  How's gold doing, btw?  Glad I got out at $1650

Wed, 12/18/2013 - 15:52 | Link to Comment The Juggernaut
The Juggernaut's picture

"You just can't move inflation to a place you want it.  It takes luck and good policy."  - Bernanke

 

...I shit you not, thats what he just said.  He probably doesn't know that the history of Fiat is on the opposite side.

Wed, 12/18/2013 - 15:57 | Link to Comment vmromk
vmromk's picture

Two bloodsucking parasites if there ever were any.

 

DEATH to the CRIMINAL Federal Reserve.

Wed, 12/18/2013 - 16:03 | Link to Comment dryam
dryam's picture

He keeps saying tool this tool that.  He doesn't get it.  He's the tool of all tools.

Wed, 12/18/2013 - 16:11 | Link to Comment General Decline
General Decline's picture

Last press conference EVER???  is he being executed tonight???

Wed, 12/18/2013 - 16:38 | Link to Comment Four chan
Four chan's picture

thats all bitch. gtfo

Wed, 12/18/2013 - 16:45 | Link to Comment Divided States ...
Divided States of America's picture

This is great...so now these central bankers and their Wall Street buddies have managed to make everyone think there is a NO LOSE situation. Tapering will now be the template for more 2% gains in the markets going forward.

This is unfuckinbelievable.

 

Wed, 12/18/2013 - 16:11 | Link to Comment Harlequin001
Harlequin001's picture

Can someone tell em what is the point in all this.

 

Wed, 12/18/2013 - 16:16 | Link to Comment Ruffcut
Ruffcut's picture

I was so bored. I guess bullshit is more tolerable that way.

Bernie will go back to being the fudge packee to the elite.

Wed, 12/18/2013 - 16:17 | Link to Comment General Decline
General Decline's picture

He does kinda have a weird, creepy, pedo look on his face, doesn't he?

Wed, 12/18/2013 - 16:23 | Link to Comment jbvtme
jbvtme's picture

the frontal lobe of the brain is the source of creativity and compassion. notice hair does not grow on their barren scalps...

Wed, 12/18/2013 - 16:18 | Link to Comment Harlequin001
Harlequin001's picture

Does anyone feel the urge to give up their lives in defence of press freedom after watching this?

I mean seriously, come on...

WTF.

Wed, 12/18/2013 - 16:19 | Link to Comment DaveyJones
DaveyJones's picture

Greenspan

I've never knew a face could capture an economic legacy:

nearsighted, worn out, pursed, and apathetic

Wed, 12/18/2013 - 16:32 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

Probably all true, but it's a face that also looks relieved that he no longer is in charge of reading the cards he's been given and is passing on the onus to someone else.

I bet he didn't even wash his hands coming out of the lavatory to congratulate Yellen on getting his old job...  My understanding is that is part of the Feds "secret handshake" ritual when the torch of chairman gets passed on to the next.

Hope Janet's right hand didn't come in contact with her mouth or open sores or blisters after that congratulatory "shake"!

Wed, 12/18/2013 - 16:42 | Link to Comment TheLoveArtist
TheLoveArtist's picture

You would have to be either the biggest whore or the uggliest JEW chick that ever lived to let these schmucks get their dicks wet.

Wed, 12/18/2013 - 16:12 | Link to Comment ToNYC
ToNYC's picture

Asset price performance is not Inflation, only when you measure from June 2009, and you add 3T USD to the denominator traded for 2nd motgages and 2-28s on underwater housing for a proper baseline, and then pony up the new, enhanced and enriched price of the original asset. Asset prices are not Asset purchases, nor could they have come from that money, of course says Ben, but it does all come out in the wash that I won't be around to face. A variety of tools indeed.

Wed, 12/18/2013 - 15:59 | Link to Comment willwork4food
willwork4food's picture

actually BK, some astute commenters on ZH DID forsee this coming and I agreed. They had no choice but to taper a little, otherwise no one would ever believe them again. And $10B only? Huh! They'll just ADD $10B onthe backside. Wake me when the numbers mean something.

http://www.ieet.org/images/uploads/my_precious_bitcoin.jpg

 

Wed, 12/18/2013 - 16:07 | Link to Comment Harbanger
Harbanger's picture

He doesn't realize that taper talk is a mind fuck to further fleece the Market by creating controlled swings.  THERE CANNOT/WILL NOT, EVER BE ANY REAL TAPER UNTIL BUST.

Wed, 12/18/2013 - 17:11 | Link to Comment DaveyJones
DaveyJones's picture

well said

they're just being consistent, there hasn't been anything REAL for some time. 

Wed, 12/18/2013 - 16:22 | Link to Comment BKbroiler
BKbroiler's picture

ohnoes, people don't like my post.  Good thing I have software that converts downvotes into bitcoins.

I'm so glad I listened to ZH and didn't buy into the stock market while it doubled.

@Harbanger, re: He doesn't realize that taper talk is a mind fuck.  Call it what you want friend, but made up statistics cause real world jumps in the market, and it's all talk and ones and zeroes until you look at your portfolio and it's decimated.  I love ZH and have been here longer than most but for a financial blog to have made 2 such horrible calls is frustrating when some of us took them seriously.  Fortunately, I have a few fires cooking and a few ears to bend before putting money anywhere, and didn't get crushed like many of you $50 "last chance" silver buyers.

Wed, 12/18/2013 - 16:36 | Link to Comment Harbanger
Harbanger's picture

ZH doesn't make calls.  They tell you what's going on at the time and you use your own logic to make a decision.  I sold BTC @ 1150 and bought the same amount @ 650 + 3 monster boxes.  Last night at about 3am I bought another 100 btc at $495.  I've been trading bitcoins and stacking silver like a bandit.

Wed, 12/18/2013 - 16:39 | Link to Comment BKbroiler
BKbroiler's picture

that's a nice trade, but ZH not making calls is a stretch.  How many $5000 gold articles have we seen?   How many "the market crashes" tomorrow articles?  How many Phoenix Capital Research clone articles are published daily?  give me a break man, not even Tyler Durden can fight the Fed.

Wed, 12/18/2013 - 16:47 | Link to Comment Harbanger
Harbanger's picture

I've seen $50,000/oz articles.  Most articles are not even written by ZH.  They let you know what people with knowledge in different fields are saying about the economy and prospects outside of the MSM spin.  What else do you expect?  No one is going to hold your hand and make decisions for you.  Besides, you would only blame them if they were wrong, so better you be wrong on your own.

Wed, 12/18/2013 - 17:07 | Link to Comment BKbroiler
BKbroiler's picture

well your trades are better than your logic apparently.  They don't have to write the articles, they publish them.  There are people outside the MSM that think all sorts of nonsense, but ZH caters to a viewpoint.  When that viewpoint turns out to be wrong as fuck, only sheep don't call them out.

Wed, 12/18/2013 - 17:17 | Link to Comment Harbanger
Harbanger's picture

So I'm just a lucky fool with no logic?  You're from Brooklyn right, BK?  You should know better than to talk like a schmuck.  When what viewpoint turns out to be wrong?  Who are you calling out? 

Wed, 12/18/2013 - 17:28 | Link to Comment BKbroiler
BKbroiler's picture

No, sir, you are not just a lucky fool, but the recepient of Tyler Durden ass-kissing award, Special Olympics 2013.  Your logic that publishing articles is not support for what those articles propose is stupid.  Your logic that ZH just presents articles counter to the mainstream, not a specific viewpoint, is also stupid.  So you made a good trade and I told you congrats, if you just didn't make it up in the first place.  

When what viewpoint turns out to be wrong?

The viewpoint that gold is going to the moon, that the world will crash back into midieval times in 2010, 2011, 2012.... those viewpoints.  and yeah, I'm from Brooklyn, so friggin what. next caller.

Wed, 12/18/2013 - 17:37 | Link to Comment Harbanger
Harbanger's picture

There will be another even bigger crash, guaranteed.  Just Like 2007 + 1000.  The viewpoint you see here (based on fact) is that the USD and it's reserve status is on it's way out, not that Gold is going to the roof so therefore you should "invest".  Other assets inverse to the USD will also rise.  Are you investing based in King Dollar, bitchin about losses in manipulated PM prices, happy about bitcoins, happy in manipulated equities, looking for a happy statist median or what?

Wed, 12/18/2013 - 17:46 | Link to Comment BKbroiler
BKbroiler's picture

Are you investing based in King Dollar, bitchin about losses in manipulated PM prices, happy about bitcoins, happy in manipulated equities, looking for a happy statist median or what?

none of the above.  I sold gold in January and bought a house in cash with the profit.  The rest of my money is invested in my small business of turning downvotes into bitcoins. I'm like a miner without all the overhead.

Wed, 12/18/2013 - 17:52 | Link to Comment Harbanger
Harbanger's picture

"The rest of my money is invested in my small business of turning downvotes into bitcoins."

 

Thank you, Who pays you in bitcoins for posting bullshit here?

Wed, 12/18/2013 - 18:01 | Link to Comment BKbroiler
BKbroiler's picture

yo mama

Wed, 12/18/2013 - 18:10 | Link to Comment Harbanger
Harbanger's picture

Was a nice fuck, Son.  Remember Who your Daddy.

Wed, 12/18/2013 - 17:29 | Link to Comment DaveyJones
DaveyJones's picture

"but ZH caters to a viewpoint."

unlike you?

viewpoints are what we have, we collect them and form more

ZH, unlike you,, seems concerned (and wise) about things beyond "our" markets. Real things. Real math 

Last time I checked, even markets are subject to reality...at some point.

faulting ZH for a slight inability to predict this exact timing or strategy of this unprecedented criminal and global behavior to flood, manipulate, lie and steal tells us more about your shortcomings than theirs  

Wed, 12/18/2013 - 17:33 | Link to Comment BKbroiler
BKbroiler's picture

well I guess I pissed off the herd... again.   I like ZH's viewpoints on most subjects, which why I've been coming here for 5 years.   I just think that in this case, they were epically wrong about the direction of Fed policy, just as they were wrong about gold, and the stock market.  Those aren't exactly three minor issues.  I like the political and military coverage, but from now on I take the financial prognostications as nothing more than pandering to its base, which seems to be devolving into hunter gatherers.

Wed, 12/18/2013 - 17:51 | Link to Comment Harbanger
Harbanger's picture

"I've been coming here for 5 years."

The site is not even 5 years old yet, schmuck.  You're concerned about pissing off what herd?  Maybe the battle is between you and your cognitive dissonance.

Wed, 12/18/2013 - 18:04 | Link to Comment BKbroiler
BKbroiler's picture

it used to a blogspot jackass.  

Wed, 12/18/2013 - 21:40 | Link to Comment Angel Face
Angel Face's picture

If you look, I've been on here 4.5 years...and as BK said, ZH started as a blog.  I started reading ZH early 2008...so, 5+ years is about right.

Wed, 12/18/2013 - 18:11 | Link to Comment DaveyJones
DaveyJones's picture

Excuse me while I "gather" my thoughts and "hunt" for the right words

So to clarify, ZH underestimated the global efforts to manipulate the price of GOLD & the Stock Market and continued criminal moves of the Federal Reserve who, even by historical precedent, continue to outdo themselves and cause former federal prosecutor experts like William Black to reel back in shock.

and exactly how did ZH not predict the stock market inflation response triggered by QE and other conscious efforts to hide the truth 

Once again, ZH deals with the big picture and the long term and continues to be honest and accurate. You seem only interested in buying and selling. For that, you're right, there are other sites who will pander to you and you to them.   

Wed, 12/18/2013 - 18:19 | Link to Comment BKbroiler
BKbroiler's picture

ZH underestimated the global efforts to manipulate the price of GOLD & the Stock Market and continued criminal moves of the Federal Reserve

exactly.  You could have stopped right there.  And where is the inflation we've been promised?  It never materialized because they didn't take into account that there are so many trillions of USD sloshing around out there in weaker economies that the little bit of inflation that we did experience was mostly exported to them.  Same reason gold got crushed, same reason stocks soared. epic bad call. period.  

I generally enjoy your posts but disagree with you that it couldn't have been predicted.  It was in fact predicted by everyone except the bears, and a lot of bears got their asses handed to them.  And when you piss of a bear they tend to react.  That's what my posts today are about.  Don't piss on me and tell me it's raining.

Wed, 12/18/2013 - 18:39 | Link to Comment DaveyJones
DaveyJones's picture

"many trillions of USD sloshing around out there in weaker economies that the little bit of inflation that we did experience was mostly exported to them.  Same reason gold got crushed, same reason stocks soared. epic bad call. period."

Almost but not quite. We are trying like any fat fiat empire to export our inflation. But not all those economies are "weaker" and many of them are pissed and fighting back. The wars have just begun. You said we exported the inflation but you also admit we also intentionally imported it as well - to the markets. If you think gold (and numerous other things) got manipulated simply by "flooding" and no other criminal, techincal and modern means, including a criminal financial media, you are unfortunately naive OR not listening to a wide enough variety of experts and infromation.

I admit, like you, I come with a bias and a point of view, criminal law. I am not alone in saying the level of criminal behavior and DIRECT manipulation has never been seen on this level, scale or intensity. So are our fundamental economic and resource problems.

Or do you disagree?

You miss my other point as well, it's not that this was "unpredictable," the criminal coordination was "underestimated."  I can't tell you how many honest experts continue to say they are astounded by the same thing. The math is going to cave in, no one can predict when. It depends on so many factors including ones that have little to do with math and more to do with history and human nature and its tolerance.  

   

Wed, 12/18/2013 - 19:05 | Link to Comment BKbroiler
BKbroiler's picture

You said we exported the inflation but you also admit we also intentionally imported it as well - to the markets.

I think you're confusing asset bubbles with inflation, and may have misunderstood what I wrote.  The price of everyday goods going up is inflation.  The stock and RE markets doubling is an asset bubble. When we cut rates to zero, money had nowhere to go but stocks and RE, but it did not cause inflation in cars, furniture, shoes etc...

This is where the ZH crowd got it so damn wrong.  Deflation took a hold instead of inflation, and anyone who has looked at money velocity over the last few years knows that Bernanke is desperately trying to avoid deflation.  His (stupid) solution was to print money, but instead of that holding up the prices of daily goods and causing the little bit of inflation he wanted, it went right to RE and stock bubbles for the simple reason that the super rich people who benefited from QE don't need new cars, furniture, shoes etc.

you are unfortunately naive OR not listening to a wide enough variety of experts and infromation.

I might be offensive from time to time but I'm not naive, Mr. Jones.  

Wed, 12/18/2013 - 21:02 | Link to Comment DaveyJones
DaveyJones's picture

you sure all Bernanke is doing is "desperately trying to avoid deflation?" He's going well beyond that and intentionally inflating. There are only two ways to respond to unpayable debt- default and inflation. They are doing both in underhanded ways - messing with CPI and restructing promises to their own citizens are a form of default. Flooding the system is a form of inflation - any system. But its more complicated, inflation and deflation are both happening. As people realize money is losing value, money continues to move toward the short end. Consistent with that, inflation is indeed in the small things like food or cans of food for instance. There are lots of ways to hide it, like reducing the size, or quality or....   Cars and other big ticket items for the middle class are price suffering because no one can afford them. Cars carry more unique baggage as people fear the increasing cost of fuel etc...   

Wed, 12/18/2013 - 22:53 | Link to Comment Rantabulous
Rantabulous's picture

I just want to thank you all for sustaining an interesting and lively debate.

I enjoyed reading your thoughts and will probably read them again later and reflect further upon them.

Wed, 12/18/2013 - 21:56 | Link to Comment Angel Face
Angel Face's picture

Inflation is a monetary phenomenon that may or may not have an immediate impart on prices.  The monetary base has been inflated (quadrupled).  It remains to be seen to what extent this will translate into inflated prices because banks have parked most of the free money they've been handed to prop up their balance sheets and are content to collect interest from the Fed for excess reserves.  At the same time, there has been a lot of deflationary pressure on prices due to offshoring and technology.  What do you think the dollar is going to be worth when all the jobs have been offshored and a kiosk is taking your order at Mickey D's? 

Wed, 12/18/2013 - 17:09 | Link to Comment trader1
trader1's picture

upvoted so that no bitcoins get mined by you.

i was not a $50 "last chance" silver buyer.

but, now i would be a $19 "last chance" silver buyer.  

Wed, 12/18/2013 - 17:15 | Link to Comment BKbroiler
BKbroiler's picture

$19 only if it's $20 with the premium, ie 10K for a monster box.  that's my in anyway, and I'd be right back out at $26, not stacking it in some basement waiting for the "Great Reset" that happens in ___ years.

Wed, 12/18/2013 - 18:22 | Link to Comment trader1
trader1's picture

well, what's more interesting to me right now is why cnbc is talking about ar-15s, aurora shooting, and gun control...?

i was expecting cramer

 

Wed, 12/18/2013 - 18:35 | Link to Comment trader1
trader1's picture

holy crap.  there are some crazies out there in america.  

why do people feel the need to have to buy assault rifles to protect their families?  

that's the faintest thought in the country where i live.

 

Wed, 12/18/2013 - 18:40 | Link to Comment BKbroiler
BKbroiler's picture

god i hate that bald bastard.  cnbc is talking ar-15s because sex and violence sell and the only "investors" left are machines, and they only scan websites, not listen to the teevee.   What's crazy to me is that Silver went from 8 bucks to 50 without anybody noticing in the MSM.  When I told people I owned silver they asked for the stock ticker.

Wed, 12/18/2013 - 16:28 | Link to Comment TheLoveArtist
TheLoveArtist's picture

,,,VEY

Wed, 12/18/2013 - 15:53 | Link to Comment Harbanger
Harbanger's picture

If there's one thing I have engrained in me from my ancient DNA, it's that cowards will never win in the end.

Wed, 12/18/2013 - 16:44 | Link to Comment Skateboarder
Skateboarder's picture

The test of faith is the final test.

Wed, 12/18/2013 - 17:06 | Link to Comment Harbanger
Harbanger's picture

Amen.

Wed, 12/18/2013 - 15:42 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

WHAT IS GOING ON HERE ???? Is today opposite day?

Everything is reacting counter to what was expected.

Something strange is afoot.

Wed, 12/18/2013 - 16:00 | Link to Comment nwowatcher911
nwowatcher911's picture

Global Currency Reset, within 90 days.

Wed, 12/18/2013 - 17:01 | Link to Comment SDRII
SDRII's picture

No Volatility Anywhere:

US test minuteman ICBM destination atoll

Russia relaunches rail based nukes after deploying nukes to NATO frontier

China cuts off Bitcoin

China halts GMO Corn imports

Russian bombers in Latam

China reveals sub fleet

Japan coaxed into print and rearm

Saudi says ready to act without US

Make of it what you will. Remember that Russian/Georgian war during opening ceremonies....

 

Mon, 12/23/2013 - 04:15 | Link to Comment nwowatcher911
nwowatcher911's picture

204 Countries have agreed with the IMF and world bank to do this..

Wed, 12/18/2013 - 16:28 | Link to Comment NotApplicable
NotApplicable's picture

The word you're looking for is "rigged."

Facade Maintenance 101.

Wed, 12/18/2013 - 16:27 | Link to Comment TheLoveArtist
TheLoveArtist's picture

Why does the tribe have to put such ugly schmuks in top positions?  I mean there are tons of good looking JEWS in JEWLLYWOOD in LA that they can get to stand in as they carry out the directives of the World Jewish Congress.  Why these ugly, vile looking f**ks

Wed, 12/18/2013 - 16:36 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Note that "Bonds" = Bondage ---> Debt-based fiat-Currency (USD).  IOW...

USD = Currency not backed by (A) PMs, nor (B) Goodwill of Free Markets, but (C) backed by Global Petro Sales + DoD + US LEAs.  Which all results in institutionalized shakedowns (by the private cartel that owns the Fed), known as "taxes".

As long as the world keeps using the USD and we have almost 200 DoD, NSA and CIA bases around the world -- who make sure they keep using it -- we can print FRNs, T-Bills and Bonds till the cows come home.

p.s. "Transparency", my ass.  It's pretty 'transparent' what you guys are up to.  What's NOT so 'transparent', is exactly who owns you.  Names, rank, SSN and citizenship please.

pps. People dropping out of the Labor Force does not bring down the Unemployment Rate.  It brings down the U3 curve, not the U6 curve. 

Plan, Hedge and Allocate accordingly:  BTFATH, BTFD.  But... hedge with a mix of assets for Wealth Preservation + Growth (slow + speculative), e.g., Real assets and PM bullion, Global Stocks (where YOU hold the Certificates, not your Broker), Cash (liquidity), and a bit of BTC (speculation).

Wed, 12/18/2013 - 16:35 | Link to Comment TheLoveArtist
TheLoveArtist's picture

http://www.americanbanker.com/issues/178_195/fed-frees-israeli-bank-from...

I bet you they are comparing the size of their accounts in bank Hapoalim in Israel.  Why is that cesspit of a country allowed to continue to be the world's biggest money launderer and we make such a big stink about the Swiss.   Ahhh I get it just like we fight the Arabs for the JEWS we are supposed to destroy their banking competition in Switzerland for them also.

After all we are the goyim jackass slaves their Chief Rabbi Ovadia Yosef called us.

Wed, 12/18/2013 - 19:11 | Link to Comment ZH Snob
ZH Snob's picture

I wonder if Ben has groupies.

Wed, 12/18/2013 - 15:29 | Link to Comment Charles Nelson ...
Charles Nelson Reilly's picture

fuck you Bernanke... and fuck you to the alien old fuck sitting next to him.

Wed, 12/18/2013 - 15:58 | Link to Comment Divided States ...
Divided States of America's picture

If you stick J-bitch Yellen into that picture, it will complete the Three Zionist Filthy Pigs.

Fuck, basically today confirmed that the markets have been sabotaged for good. You either join the ride or watch everybody flying pass you on the road that leads to a cliff a few miles down.

Wed, 12/18/2013 - 16:04 | Link to Comment Keyser
Keyser's picture

Yep, the last three bears on wall street threw in the towel and went long on this news. 

Wed, 12/18/2013 - 16:11 | Link to Comment D7z
Wed, 12/18/2013 - 16:28 | Link to Comment TheLoveArtist
TheLoveArtist's picture

You would think she'd print some extra cash to fix those UGLY TEETH.  But I guess when you have so much money and can print trillions it doesn't matter you can always get LAID no matter what you look like.

Wed, 12/18/2013 - 15:59 | Link to Comment krispkritter
krispkritter's picture

They look like a pair of balls, all they'd need is Obie standing between them as a big dick and it'd be perfect symbolism; we're getting fucked because of these three clowns...

Wed, 12/18/2013 - 16:09 | Link to Comment dracos_ghost
dracos_ghost's picture

Yeah, and anal is not sex.

"Tapering is not tightening"

Wed, 12/18/2013 - 16:47 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

And to add to that splendid visual...

The scrotum that houses those two testicles is "bone dry" and has been since early 2001.  At this late stage, maybe sterility should be looked at as an added bonus?

Wed, 12/18/2013 - 16:55 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

As to the reduced Participation Rate...  What he is NOT addressing is the effects of

 

(A) Off-shoring, and

(B) Hiring H1B1 visa students through the front door, and quietly laying off older workers (who also have Masters and PhD degrees, and way more experience than the H1B1 crowd, but lack the foreign language skills for trips to China and India).

Companies are thus opting for cheap, young students from India and China getting hired, and letting go aging workers (with higher pay).  All done VERY discretely and in a very legally-correct and politically-correct, to avoid bad press and litigation, of course. 

The sad joke/truth and dirty little secret on top of that, is that while many of these multi-national/global companies blackmail/pressure local governments into all kinds of tax breaks to "hire" people, and while they do 'hire' (H1B1 visa students!), they simultaneously 'dump' the local US workers onto these same Local and State governments.

Isn't it grand to be a global multinational?  Or part of the ideal/preferred demographic profile, to get on board and stay on board?

Wed, 12/18/2013 - 15:30 | Link to Comment FuzzyDunlop21
FuzzyDunlop21's picture

Greenspan is so fucking ugly. 

Wed, 12/18/2013 - 15:40 | Link to Comment Charles Nelson ...
Charles Nelson Reilly's picture

no, Tom Petty is ugly.  Alan Greenspan is a fucking mutant monster that should have been aborted... 

how bout that?!?

Wed, 12/18/2013 - 15:46 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

Don't forget lies-man. He got the 1st question again.

Can we place him in the ugly contest?

Wed, 12/18/2013 - 16:00 | Link to Comment giggler321
giggler321's picture

giggler321 with ZH - WTF are you doing?   Since interest rates are your primary tool; with ZIRP what's next?

Wed, 12/18/2013 - 16:21 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Greenspan is so ugly he's skugly

Wed, 12/18/2013 - 15:52 | Link to Comment superflex
superflex's picture

Lemmy and Geddy Lee are ugly too.

Wed, 12/18/2013 - 16:42 | Link to Comment moonman
moonman's picture

But Lemmy is god 

Wed, 12/18/2013 - 15:56 | Link to Comment Goldbugger
Goldbugger's picture

I know that's why I use his pic for my account.

Wed, 12/18/2013 - 15:33 | Link to Comment ...out of space
...out of space's picture

ok ben something is wrong. silver didnt fall

Wed, 12/18/2013 - 15:53 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

..out of space.....As soon as Ben gets back to his desk today, he will orchestrate the

daily monkey-hammering of PMs to close out the day.

Wed, 12/18/2013 - 15:32 | Link to Comment Racer
Racer's picture

That look on the ChairSatans face sends shivers down my back.

Not looking forward to Satan'sEcho next time....   : ((((

 

Wed, 12/18/2013 - 16:38 | Link to Comment TheLoveArtist
TheLoveArtist's picture

I am surprised they didn't bring their DEVIL'S PITCHFORKS = THE MENORAHS for this photo op

 

Wed, 12/18/2013 - 15:32 | Link to Comment ExecutionParty
ExecutionParty's picture

The only way Bernanke should be able to leave the fed is if he can cram all the money he printed over the years up his ass

Wed, 12/18/2013 - 16:00 | Link to Comment spiral galaxy
spiral galaxy's picture

But the $$ is all digital and can fit on a small chip.  So how 'bout several trillion volts in the ass?

Wed, 12/18/2013 - 15:32 | Link to Comment Silver Garbage Man
Silver Garbage Man's picture

Small taper.......big false flag(in a little while........Big new QE......

Wed, 12/18/2013 - 15:54 | Link to Comment BLOTTO
BLOTTO's picture

Yes, queue in a big false flag event via from either a man made 'natural' disaster or a war or a pandemic disease...

.

A long shot at 1/1000 - is a faked alien invasion.

Wed, 12/18/2013 - 15:35 | Link to Comment tony wilson
tony wilson's picture

my dearest benjamin.

please take yourself and your saturnic satanic tribe and swim and drink the pacific mineral waters off fukishima dachi.

failing that just jump off larry silversteins insurance con tower put a message up before so we can video it just like mossad 911

 

Wed, 12/18/2013 - 15:50 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

Damn, Tony......for those that get it.................+1

Wed, 12/18/2013 - 15:35 | Link to Comment wisefool
wisefool's picture

Nice to hear he still knows how to put that wither in his speeches. I am going to miss the half crying stuff.

Wed, 12/18/2013 - 15:35 | Link to Comment gratefultraveller
gratefultraveller's picture

Why is his voice sooo shaky? Scared shitless???

Wed, 12/18/2013 - 15:40 | Link to Comment X86BSD
X86BSD's picture

I've always wondered that. Every time he speaks its a dry throated nervous speech. You can hear how dry his mouth is when he takes pauses. He needs more jizz in his mouth from his masters to moisten it up.

Wed, 12/18/2013 - 16:29 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

 

That spectacular abundance of oil just went over $98 enroute $100+.

Maybe he'll get inflation, but not the kind he wanted.

Wed, 12/18/2013 - 16:32 | Link to Comment NotApplicable
NotApplicable's picture

Some people just aren't good liars.

In other news, at least he isn't a total sociopath.

Wed, 12/18/2013 - 15:36 | Link to Comment blacktusk
blacktusk's picture

Is it just me or does Ben voice quiver like he's trying to lie his way out of trouble like a kid explaining something to their Principal?

Wed, 12/18/2013 - 15:43 | Link to Comment Ms. Erable
Ms. Erable's picture

Probably thinking: "I'm thiiiis close to getting away with it... don't fuck it up now! Then they can blame it on the old hag".

Wed, 12/18/2013 - 15:38 | Link to Comment Yen Cross
Yen Cross's picture

     They're chatting about all the gold and silver they have stashed in their converted missile silo bunkers.

Wed, 12/18/2013 - 15:37 | Link to Comment Iam Yue2
Iam Yue2's picture

@Laspeyres: Fed cut unemployment forecast for 2014, to 6.3%-6.6% from 6.4%-6.8%. If that's right markets will be thinking about rate hikes fairly soon.

Wed, 12/18/2013 - 15:40 | Link to Comment rlouis
rlouis's picture

What BS ... is that a talking pile-of-sh*t? 

Wed, 12/18/2013 - 15:39 | Link to Comment sbenard
sbenard's picture

It's a "non-taper" taper!

Wed, 12/18/2013 - 15:41 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Time to get small Ben. "If they can't see ya....they can't get ya."..............Monty Python

Wed, 12/18/2013 - 15:42 | Link to Comment rodocostarica
rodocostarica's picture

have to have inflation. Must have.

Wed, 12/18/2013 - 15:42 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

who the fuck is buying and driving the Dow up over 200 fucking bullshit points...

WHAT THE FUCK MAN??????

Wed, 12/18/2013 - 15:46 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

WHAT THE.....?

Everything is manipulated, preplanned BS...that"s what.

Wed, 12/18/2013 - 15:59 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

"The sharp drop in the price of gold and silver in early 2013 unleashed a wave of pent up demand, which was clearly seen in the sale of silver coins. The U.S. Mint, Royal Canadian Mint and the Perth Mint all reported extremely high sales of their silver coins. “The import restrictions in India were focused primarily on gold so consumers ended up turning to silver,” he said. Keith Weiner, president of the Gold Standard Institute and chief executive officer of Monetary Metals, said the banking crisis in Cyprus earlier in the year highlighted the fragility of the banking system.  

A lot of people ended buying other assets to preserve their wealth and because of its lower price to gold, silver has always been a popular alternative as another currency, he added.
Although the crisis has abated since March, Weiner said there is still a strong distrust of the global banking system, which is why consumers and investors are buying on price drops. “If you hold a silver coin you aren’t a creditor to the banking system,” he said. “You are holding a real piece of money.”

http://www.forbes.com/sites/kitconews/2013/12/16/world-mints-sees-unprec...

KEEP TALKING LYING ASS BERNANKE.....

 

Wed, 12/18/2013 - 16:30 | Link to Comment TheMayor
TheMayor's picture

The US government is.

Weldome to Atlas Shrugged where everything is centrally planned, for the good of the people of course.

Wed, 12/18/2013 - 15:44 | Link to Comment ebworthen
ebworthen's picture

"We will address inflation that is too low, as well as too high."

Which means my money and labor has ZERO affect on markets.

Thanks asshole, burn in Hell.

Bullshit, bullshit, bullshit.

Low rates forever.

Bankers win.

Proles lose.

Wed, 12/18/2013 - 15:45 | Link to Comment X86BSD
X86BSD's picture

Also when the hell am I ever going to get to see this unfold after a speech? "And now I'll open it up for questions."
"Tyler Duden, zerohedge, when are you going to choke on a cock and die you fucking parasitical criminal worm!"

Wed, 12/18/2013 - 15:49 | Link to Comment ebworthen
ebworthen's picture

Would a bomb under the desk with a question mark stenciled on the C4 be a question?

Wed, 12/18/2013 - 15:43 | Link to Comment delivered
delivered's picture

Ford warns on 2014 earnings (could it be they have too many 2013 models they need to dump?). Shibor short-term rates spiked overnight. GOFO went negative today again. Stocks jump on the taper news. USD unchanged as well as 10yr rates. Housing starts rocket higher (but mainly driven by rental units) while mortgage applications plummet. All in roughly 24 hours. Go figure this market or maybe not. 

The bottom line is nobody has any freaking idea what's going on with the only certainty being one simple concept - Prepare for the unknown as risks are elevated to almost extreme levels in basically every asset class and throughout the entire economy and is centered on one simple concept - Leverage and excessive debt! Never higher and never better until everyone comes down off the drug induced high. 

Wed, 12/18/2013 - 15:46 | Link to Comment B2u
B2u's picture

I think LIESman just creamed in his underwear...he got to ask  a question...

Wed, 12/18/2013 - 16:13 | Link to Comment Keyser
Keyser's picture

That's his reward for letting Ben pack his fudge on a regular basis. 

 

Wed, 12/18/2013 - 15:47 | Link to Comment orangegeek
orangegeek's picture

central banks buying up everything that moves - we are a prosperous economy - see?????

 

 

should be interesting to see what happens tomorrow - follow through won't be there

Wed, 12/18/2013 - 15:47 | Link to Comment tarsubil
tarsubil's picture

He's leaving right? He can say he tried making the hard decision and not have to worry about the subsequent implosion.

Wed, 12/18/2013 - 15:46 | Link to Comment ebworthen
ebworthen's picture

LIESman then Hilsenrath get questions in early:  PROPAGANDA MACHINE!!!

Wed, 12/18/2013 - 15:47 | Link to Comment Fiat Burner
Fiat Burner's picture

Hilensrath is at the fucking press conference AND wrote a thesis on the taper within 3 minutes?   Damn this guy is superman.

Wed, 12/18/2013 - 15:48 | Link to Comment ebworthen
ebworthen's picture

He must have that new Blackberry (wink-wink).

Wed, 12/18/2013 - 15:48 | Link to Comment gratefultraveller
gratefultraveller's picture

"healthcare costs have been unusually low, and that might reverse"... no shit Sherlock

Wed, 12/18/2013 - 15:50 | Link to Comment Reference Variable
Reference Variable's picture

Leaving just in time. I think there's a special place in hell for Ben.

I wonder if Yellen is conscious of the impending doom. Things get interesting when the rats eat one another.

Wed, 12/18/2013 - 15:49 | Link to Comment BudFox2012
BudFox2012's picture

What's the over-under on how long it will be before the Fed has to un-taper (+ some)?  I've got 4 months (when 1st quarter results come in)

Wed, 12/18/2013 - 15:54 | Link to Comment The Econ Ideal
The Econ Ideal's picture

“Inflation significantly below its objective could pose risks…the committee is committed to avoiding inflation that is too low…”

{famous last words}

 

Wed, 12/18/2013 - 16:00 | Link to Comment SheepDog-One
SheepDog-One's picture

Wi Tu Lo!

Wed, 12/18/2013 - 15:55 | Link to Comment gratefultraveller
gratefultraveller's picture

no tools for a direct infusion into the economy? and what about the helicopter, Ben???

Wed, 12/18/2013 - 15:58 | Link to Comment fonzannoon
fonzannoon's picture

anyone listening to these questions? "When are you going to enact a more direct stimulus?"

translation "when are you going to start sending out some checks to joe sicpack, motherfucker?"

Wed, 12/18/2013 - 16:36 | Link to Comment slightlyskeptical
slightlyskeptical's picture

If they really wanted economic growth that is exactly what they would do. Why rely on trickle down when you can get directly at the source? What they are doing is like watering the plants by hosing down the roof and letting the water run through the gutter. Of course it doesn't get to where it is needed.

Or they would turn around and refinance all the debt they hold from the American people. If you took out a mortgage in the last 5 years there is a good chance that the Fed owns it and will make 2-3 times your principal over the term of the loan. All with money created from thin air.

 

Wed, 12/18/2013 - 16:34 | Link to Comment kito
kito's picture

where is doc? i deserve a sandwich!!!!!

Wed, 12/18/2013 - 15:59 | Link to Comment SheepDog-One
SheepDog-One's picture

$10 billion less a month....oh GOOD NEWS now! Everything no matter what is good news now, no matter what good news was an hour ago, the opposite is still good news!

Wed, 12/18/2013 - 15:57 | Link to Comment ToNYC
ToNYC's picture

Who is featured in more cartoons, they discuss.

Wed, 12/18/2013 - 15:58 | Link to Comment thetruthseeker
thetruthseeker's picture

May Benjamin Shalom Bernanke have a retirement fit for a Rothschild central banker.  May he find peace in his post-FOMC years before burning eternally in Hell for his financial crimes against humanity.

Wed, 12/18/2013 - 16:04 | Link to Comment eclectic syncretist
eclectic syncretist's picture

BS Berstanke bull-shitting his way to the very end.

Wed, 12/18/2013 - 16:00 | Link to Comment explosivo
explosivo's picture

He looks like a man who is lying. 

Wed, 12/18/2013 - 16:02 | Link to Comment smcapmachine
smcapmachine's picture

bernanke just rammed you all once again.   he's about 30 for 30 now.

Wed, 12/18/2013 - 16:10 | Link to Comment FieldingMellish
FieldingMellish's picture

"Look at the goy over there. I bet he still has his foreskin."

Wed, 12/18/2013 - 16:14 | Link to Comment gratefultraveller
gratefultraveller's picture

Q: Why not more new jobs in the recovery?

A: We don't understand... bad luck...

 

Sure Ben - you can't possibly tell people that all you have been doing is about making the top 1% richer, and *not* about helping the little guy in the street.

Wed, 12/18/2013 - 16:15 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Bank Stress Tests?  Make it stop!

Wed, 12/18/2013 - 16:13 | Link to Comment lostintheflood
lostintheflood's picture

he started talking about stress testing and i just couldn't take it anymore...can't sit here and listen to lies with a straight face...i'm going outside...

Wed, 12/18/2013 - 16:18 | Link to Comment ebworthen
ebworthen's picture

The FED is not audited!!!

Who runs the FED???

The FED is not Federal!!!

OMFG!!!  LIAR!!!  Central banking is unethical and immoral!!!!

Wed, 12/18/2013 - 16:18 | Link to Comment Mugsie
Mugsie's picture

When is the Nuremberg trial for these idiots.

Wed, 12/18/2013 - 16:24 | Link to Comment TickTickTick
TickTickTick's picture

He says they have done everything that can think of to do - how about ADMITTING you don't have a clue what you are doing!!

Wed, 12/18/2013 - 16:31 | Link to Comment ebworthen
ebworthen's picture

Bernanke paraphrased:  "Well we've thrown some taxpayer money at the banks here, and at the banks over there, and according to government statistics things are o.k., and Wall Street sure to hell is happy so we must know exactly what we are doing.  I mean, it's only several Trillion$ that we've thrown at banks and speculative leverage chasers in financial centers so it must have helped employment."

Wed, 12/18/2013 - 16:37 | Link to Comment WillyGroper
WillyGroper's picture

He hopes he lives long enuf to read the text books???

Freudian slip?

He just said the Fed was an independent agency "within" the government. 

Someone put me to sleep, I can't take this lying shit show anymore.

Wed, 12/18/2013 - 16:23 | Link to Comment Q-Q-Q
Q-Q-Q's picture

Policy of "not on my watch" continues.................................................it's like musical chairs!

Wed, 12/18/2013 - 16:33 | Link to Comment ToNYC
ToNYC's picture

The right people get the money still works.

"While you prepare for that.. we wonder what these two are chatting about?"

Wed, 12/18/2013 - 16:26 | Link to Comment QQQBall
QQQBall's picture

whocudda node and I didnt get here to 2006, so its nobody's fault. 

 

Signed, 

 

Obomber  

 

err Ben

Wed, 12/18/2013 - 16:24 | Link to Comment Racer
Racer's picture

"Bernanke Says Dual Mandate Has Served Fed Well"

Excuse me while I swear...

F*cking Criminals

Wed, 12/18/2013 - 16:26 | Link to Comment B2u
B2u's picture

That being said....

Wed, 12/18/2013 - 16:26 | Link to Comment TheMayor
TheMayor's picture

The government has been "priniting" money and buy stocks and other assets. 

I totally am serious.

There is no way out.

This is going to be calamitous when all is revealed. 

Wed, 12/18/2013 - 16:30 | Link to Comment thismarketisrigged
thismarketisrigged's picture

wow, is this guy a fucking douche or is he a fucking douche?

 

ya, he said the word taper, but he could not go without saying how he would not give his boys on wall st more money whenever needed.

 

of course, this market is not manipulated or anything, dow up a ton, s&p up a ton, nasdaq with a 70 pt turn around, and sure enough gold and silver flat to down.

 

makes so much fucking sense, o and the 10 yr of course not shooting up.

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