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According To Bernanke, This Was The "Biggest Impact Of QE"
Are you ready for this... are you sitting down... you better be sitting down. Here it comes
- BERNANKE SAYS BIGGEST IMPACT OF QE WAS TO 'CREATE JOBS'
just :0
From "hope" to "nope"...
"Peak Self-Delusion" or just another Big Lie?
Charts: Bloomberg
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Yeah create billion dollar jobs for Jamie and Lloyd.
Just when you think our favourite academic couldn't say anything dumber, he opens his mouth and removes all doubt.
The qualifications for rising to power in this country seem to be
1.
1 Delusional sociopath.
2. Zionist.
3. Dumb.
Those second houses in the Hamptons don't simply run themselves.
pods
He hasn't lost his touch.
Help!
I've fallen out of my chair and can't get up.
Hey that is not funny. I worked with a guy once who fell out of his chair. He was on short term disability for several weeks.
I'm sure the gov-scum consider being unemployed in the private sector as now being employed by the government since they pay them social security, disability, unemployment benies, and EBT cards. And 2+2=5 still also. ;-)
Either Bernanke is a complete idiot who has no idea what is really going on, or a really evil pschyopath who cares not for his subjects. If the latter is the case, justice must be served one way or another.
Things you will be able to (briefly) buy with the helicopter money: 7-11 Super Big Gulp, cheap cigars, condoms, chewing gum, Doritos.
Things you will not be able to buy with the helicopter money: Gold, silver, Bitcoin, a Bell helicopter.
You were on the right track Tylers. You could've called it Peak Total Self-Delusion(PTSD) since you went thru the trouble of going there.
Does anyone who knows him, want to ask him where the jobs are?
Since June of 2007 - the US hasn't created a single net new Full Time Job and wages have gone nowhere...US has created 4 million shitty part time jobs in that time.
In that time, the US population rose by 20 million.
55+ yr/olds added 4 million new full time jobs...16-54yr/olds lost 4 million full time jobs
The link makes it clear that from a jobs perspective, this is the worst recovery in US history.
http://seekingalpha.com/article/3538366-u-s-economic-recoveries-in-perspective-and-why-this-is-the-worst
When the economic crisis eventually materializes, I fullly expect this Jackass to get one of the first bullets between the eyes.
You have it but it is actually worse.
QE DID CREATE JOBS...IN GOVERNMENT AND ALSO GOVERNMENT CONTRACTORS HIRED AS A RESULT.
But the WHOLE TRUTH is that QE DESTROYED MANY MORE JOBS than it ever created. Furthermore the PRIVATE SECTOR JOBS which it destroyed were QUALITY and were replaced by INFERIOR PART-TIME JOBS...so that employers would not be responsibleforpaying the OBAMACARE INSURANCE BILLS....that which the Republican Led Congress FUNDED...thus...FINANCIALLY SUPPORTED...which is SUPPORT.
So FUCK YOU REPUBLICANS.
FUCK YOU DEMOCRATS.
OBAMACARE IS WHAT REALLY KILLED OFF THE JOBS.
YOU ARE THE REASON THAT BERNANKE COULD DO WHAT BERNANKE DID.
YOU ARE THE REASON THAT OBAMA CAN DO WHAT HE DOES BEST...FUCKS EVERYBODY OVER.
YOU ARE THE REASON FOR THE DISMAL FUTURE FOR THIS NATION.
YES YOU...YOU AND YOUR "VOTING".
FUCK ALL OF YOU. I WILL FIGHT YOU TOOTH AND NAIL AND DO MY BEST TO BRING YOUR CORRUPT GAME TO COLLAPSE.
Bernanke is not dumb. Calling him dumb lets him off the hook because it's an excuse for his actions. He's not dumb. He's a criminal lying fucking sociopath
I would argue that he and his ilk are idiots because the path they know so well leads to extinction.
EPIC FAIL
For the rest of us.
It's like Val and Huma combined into a super staff.
I can see your point in this. However, they are convinced that they will escape the consequences. They are certain that the agenda they're following leads to godhood for them and enslavement for everyone else.
So, no, I'm going with pure evil. 200% sociopath/psychopath.
I'm not sure about that SuperRay, but he certainly is an academic fuckwit.
I really must stop using language like that but when it comes to Bernanke, Yellen, Greenspan, Geithner, et al it becomes so difficult to resist...
DavidC
=D
I hear you. A rose by any other name.....
Call him a gentleman or shcolar, but he's (they) is still a f***wit.
The oligarchy knows that the sheep need a "person" to focus their anger on. He did exactly what the planners told him to do. QE was not "his idea" that he had to sell and convince others was the way to proceed.
It was QE and massive printing/liquification or massive write offs and deflation. Those with the most assets never choose the latter.
"Calling him dumb lets him off the hook because it's an excuse for his actions. He's not dumb. He's a criminal lying fucking sociopath"
Why settle, How about: Dumb, lying, sociopath criminal.
I am pretty sure Bernanke is a "cloud" dweller. Look at his confrontation with Peter Schiff (about 6 months ago). Bernanke had the "deer in the head-lights" momement when Peter question him. He appeared to been completely blank minded. Bernanke is more or less just a puppet. It was Hank Paulson pulling the strings and telling Ben what to do. Also consider Bernanke also took out a ARM loan to buy his home.
After all those cock-sure calls of a rate hike, I can certainly see why...
You MOOK...!!!
The job is really cut out for historians when guys like Bernanke can say stuff like this and not be laughed off the stage.
I am not optimistic.
Mr Bernanke, when you find you need to repair your legacy, it’s too late.
< Liar
< Made a mistake
'Victor's' write the history books...then hypothecate and rehypothecate them. Looking forward to the Ecclesberg Trials...
“We’re an empire now, and when we act, we create our own reality. And while you’re studying that reality — judiciously, as you will — we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out. We’re history’s actors . . . and you, all of you, will be left to just study what we do.” - Karl Rove
That is funny. And just wait for tomorrow or next week.... HE will havve another wonderful pronouncement from on high. Either him or Greenspan.
mtl4 said: "Just when you think our favourite academic couldn't say anything dumber, he opens his mouth and removes all doubt."
Sure, that graphic makes the Sorcerer's Apprentice's words seem idiotic, but I'm certain he believes that "but for" QE it would have been worse. You see, taken in that light he comes off just a tad less deranged. I wonder how big an advance he got on that book. Someone has to pay him back for their QE lucre.
Dogma from the cult of monetarism.
If there ever was a WORTHLESS PIECE of SHIT that deserved the electric chair, it's the MOTHERLESSS PIECE of SHIT, Bernanke.
Clearly you all misunderstand poor Mr. Bernhankey. What he was talking about was "Govt" jobs...and plenty of them have been created,
;-D
That's not totally true, most of your jobs if not all that were "created" were in the Federal Gov't, if you look at your local Municipalities, the Gov't that provides most of the services that are actually used by the people, water, roads, parks, garbage, sometimes cheap power, etc. They have been struggling and cutting jobs. The Feds who do really nothing other than take and restrict/control/diminish our freedoms. Have grown while the others have shrunk and cut.
+1 for you, I sit on my fat ass corrected... In return for your consideration, I will give you some advice. Start a yoga practice now. when you learn to meditate, all will become clear. Why do you think ragheads can outwit the stupendous United States of America??? Because they meditate...
;-D
Why hasan't someone slapped that silly F'in grin off his face?
Decrease of labor force doesn't necessarily contradict with increase of jobs, Tyler ;-)
Is cutting out a person's tongue illegal?
See Chechin kid in boat some place west of Boston for answer.
Yes.
Luckily central bankers aren't people.
Are you trying to say that QE succeeded in creating jobs?
Of course, not.
Decrease of labor force is probably worse than a simple decrease of available jobs
I miss Bernanke's glory days - every time he opened his mouth gold would gap it up ten twenty or even fifty bucks. Somewhere something happened - he lost the mojo - now he speaks and no one gives a fuck.
Spitting in our face is bad enough but shitting in our face is over the top
I think what he's talking about is...with 94 million Americans out of the work force, means more jobs left for those that want to work...right?
I think what he's talking about is...with 94 million Americans out of the work force, this means more jobs left for those that want to work...right?
And congress buys his bullshit because they have no freaking clue what he's talking about.
as he takes his million dollar payola
The Federal Reserve is stuck in QE quicksand until a currency crisis.
No way out now. Just more and larger doses of QE.
Hey, look, guys, these were high quality good-paying (upper) middle class banking jobs he's talking about here. Tens of thousands of them. Don't be so quick to scoff at this.
Ferrari salesmen up 300%?
Someone's got to clean those cars as well. Trickle down I think they call it :)
Jobs from all those green shoots.
Thanks for all those barista jobs!
BARTENDER jobs.
there, fixed it for you.
ye ye, give him a break, he meant well paying jobs in the banking sector.
Where? At the Fed?
Jobs in China, Viet Nam, Mexico, Lesotho. Peru, etc.
OK. now, hang this fcuker.
Yep, he sure created a job for himself later.
I almost had the bad luck to see him on Jimmy Fallon.... Fortunately I turned it off and don't have to buy a new TV.
I believe all the criminals at Lehman et al....have jobs...Obama propaganda machine is fully employed.
Awesome. It's true 'cause he says so.
Bounty on Kickstarter anyone?
Opening bid, $0.01.
Bounty on Kickstarter anyone?
Assasination Market: Bernanke tops 'kill list'
From the site - “Killing is in most cases wrong, yes. However, as this is an inevitable direction in the technological evolution, I would rather see it in the hands of me than somebody else. By providing it cheaply and accurately I hope that more immoral alternatives won't be profitable or trusted enough. This should primarily be a tool for retribution,”
Wow.
The bounty on Bernanke is already at $90,000 USD or 124 BTC
(Not bad considering the length of time and popularity of the website...Now if they were in the top 1% of all websites frequented, like ZH, I am certain that the pool will grow exponentially.)
Don't sweat it. He has Secret Service Protection for the rest of his life...that you, as a taxpayer, are paying.
But perhaps it will be cheaper for the taxpayer to add some Bitcoin or Satoshi to the pool?
US Treasury Agents can be bought off if the price is reasonable, after all.
Somebody will try to do it when the price...is...right.
Ironic how the market fades me in every aspect and the entire world fades all of these central bankers. With all their "power" and "resources" and wishful thinking, the world went the other way.
We're all howling, but Steve Liesman will repeat it with a straight face.
i find it hilarious how some of these guys pronounce their names
LIES MAN is LEASEMAN
BOEHNER is BAY NER
Right...it's Lies man and Boner no matter what you say
What a buffoon
Prison Guards, Repo guys, Mexican construction labor, Marijuana Growers associations, oil development, urban renewal architects............
redacted
Shalom loves the taste of his own koolaid
That ain't koolaid.
Dillusional, so he definitely fits well into obammy's 'american exceptionalism'!
... and jobs for illegals as gardeners and maids.
He could also have the argument that if it was not for him, things would be so much worse. However, taking 10 million people out of the labor pool and killing middle class jobs is nothing to be proud of.
I liked the first photo better.
It just depends on what your definition of "jobs" is. For example, put a descriptor in front of "jobs" like, oh say, "blow", and you get plenty of those among the Fed chiefs by their adoring minions...
-Argenta
Saw a tweet that he wears an apple watch...
That says it all......
Butlers, maids, personal chefs, landscapers, yacht staff, high-end escorts....
Good job Bernank!
Knocking down 250k a speech......we call that deferred compensation from Wall Street
Hayek said "presumed knowledge"....and that is all these academics possess....and they reassure each other
each and every day.
All the countries problems come from the area codes 212 and 202
The efforts to 'revise history' will fail when the market does. On a long enough timeline...
QE did create millions of jobs. But Bernanke forgot to say that those jobs were by U.S. companies that took the cheap money and built new factories in Asia and Mexico!
Job openings are jobs, so technically he is right, and Nancy Peloisi said unemployed are good for the economy SO QUIT HATING
The Warm Yellow rain keeps falling on my head, smells tho
There is no way these crooks are going to be able to walk away scott free.
They may think they will but history suggests otherwise.
Nooo, you don’t understand. If we hadn’t printed three trillion in QE, we would have lost even more quality jobs than we did. It’s all relative you see.
BB (aka Edward Quince).
Ergo, the best part of being a highly paid economist isn’t the rare occasions that you appear to be right, it’s that you can never be proven wrong.
We are dying out here. I'm in construction, and there is work to be done. But at the end of the day, after the " boss" has ran his ass off trying to get the work, collect the money, pay his labor and bills, he is standing there with pockets inside out.
Spoke to my drywall supply salesman yesterday. $ millions off expected sales, to date.
Most labor anymore is Hispanic. They work hard, get paid cash, have very little " baggage" to support.
The really big guys, you get to the end of the job, and hand them an invoice for $250,000. They drag you out, and offer 175,000, take it or sue us. After that contractor goes under, there are 3 more lined up to take his place, thinking they hit the mother lode with a million dollar contract. Only to get monkey hammered in the end.
It's always been rough. This time it's differant.
Literally, 1 out of 50 is making anything out here. Most of us are just treading water of backsliding.
I'll say it again... If it's not government, your dying.
I was in a warehouse yesterday. A government supplier. Shit stacked to the rafters. The manager stated they were swamped. Can't get stuff out the door fast enough. Zero. ZERO sales to private industry.
How long can the government keep paying people and contracts, if the private economy is dying up? And it is.
I'm in Maryland, by the way. We expected a nice round of retirees to settle our area. Every project has been shot down. Fees and requirements are in the stratosphere. Across the line in Delaware, it's boomtown. No sales tax, and very modest income tax.
There is a major artery, Rt 301, that goes up Md's eastern shore, into Delaware. For 30 miles in Maryland, ther is nothing but farm fields, and vacant commercial buildings. Nothing. Not even a service station, or 7-11. As soon as you cross the state line, into Middletown De., it's BOOMTOWN! Amazon distro, Home Depot, lowes, every chain restaurant, every chain convince store. Movie theaters, SAMs club, Costco, Wal mart, and houses.
Amazing.
Thanks. I'm speechless. I can't make a joke here at all.
I know it is true.
Afraid that government can keep printing like last 13 years at a faster rate like since 2002.
They are building something. Dystopian Society of like 6 classes, Criminals, Illegals, poor, those in debt, Middle class with little debt, Government & Private Executive Class, Elite Class.
http://www.craigbhulet.com/
An American Caste System.
The 'progressives' will take any idea from anywhere, if it concentrates their own power over the masses.
http://www.islam-watch.org/home/132-alamgir-hussain/1179-islam-and-marxism-soul-buddies.html
Spot on. Just driving around here you would think it's busy, but, it is almost all roadwork being paid for with gov. "grants" All new apt. buildings are tied to some gov. programs
We do civil infrastructure and service municipalities, tribal governments, state, oil & gas and private development. Before 2008, we were probably 60% private development. After 2008, we were almost exclusively municipal. We have a few private clients, but not many. I'm still working on some small oil & gas projects, but those appear to be tapering off now.
I suggest moving southward. Here in SC, I speak with people who have just moved from MD just about every week. They know taxes are low, land/housing are much less expensive (for the same home), and the weather is great from Oct-April. I keep in touch with my contractor, and he's really busy doing commercial jobs (doctor's offices). He's been working in this area for 30 years, and seen the boom/bust cycles. Now is a good time for him. Even though the national economy is flagging, SC's is booming as folks recognize they can live better lives here than MD/IL/NY/MA/WI.
Unfortunately, most of those Northeast voters who move to escape the economic hell they created in their own states bring their "Progressive" voting habits with them, eventually killing the good economies of new states they take refuge in.
I see a bit of what you describe, but as my House rep tells me, 75% of people moving to SC from other states are more conservative than the average American. Call it self-selection.
The really big guys, you get to the end of the job, and hand them an invoice for $250,000. They drag you out, and offer 175,000, take it or sue us.
"Take it or sue us"?! Mother fuckers. Goddamn silk-suit parasites.
When the response starts being to execute their worthless asses - and their parasite lawyers - that will change.
And not one moment before.
The only thing a sociopath respects is direct threat of certain death.
"I was in a warehouse yesterday. A government supplier. Shit stacked to the rafters. The manager stated they were swamped. Can't get stuff out the door fast enough. Zero. ZERO sales to private industry."
And this, my friend, is Fascism. Welcome to the new America; brought to you by the Big Corporations (e.g. 'persons') whose home offices are on Wall/K St.
If the brain-dead 'American' ever awakes from their slumber, they may be able to affect this abberation in the human consciousness. Sadly, most of us will be dead by then.
Audit, then end the Federal Reserve. Starve the Beast of ALL corporations with a ticker symbol and those who employ more than 500 people. This will do the trick albeit there will still be parasites at the lower levels..
Sure there was job creation. In his Keynesian models. Not in the real world.
BLAME BEN BERNANKE
If the Fed uses "official" US government data, they would have cognitive dissonance.
And were they to use the "Real" data, they would stroke out. Let's get the "Real" numbers in front of them nd watch the fun!
It is true, just not jobs in America.
They have to keep the fed employees fooled. I was talking to some fed employees that were convinced the FED was helping the economy. I just laughed.
Spare a thought for all the RESERVE BANKS around the world that are COPYING THE US FED...... you yanks are debasing your economy, go right ahead, but it seems our RBA (FED) and other reserve banks are even dumber in following you guys to oblivion
If you're not the lead dog, the scenery never changes.
No point in dwelling on this. The FED saved the banks from themselves at the savers expense. Next subject.
The big picture is US living standard is plummeting and ROW is rising. US is a dead horse. This is pretty much the NWO game plan. Probably had to happen and some people are making good money at it.
Separately it would seem that reality has shown that Democracy is a failed experiment. We are too easily misled and distracted by large breasts.
I wonder what percent of americans would welcome a military overthrow at this point.
Our Constitutional Republic was infilltrated by phoney/corrupt politicians who at the end of the day Do Not represent We The People. It's been a slow process that has now come to light. The masses are getting restless and the 1% are getting extremely nervous. That's why they wan Gun Confiscation via a Civil War. They may get a civil war but the gun confiscation will not happen and will eventually be their downfall. 1% of the population can easily be overrun by the rest of society. They just need a Push. That push is really close now. Lock-n-load, get your Prep's ready, this thing is going down! Verified by Obama's look of Desperation with regards to Gun Confiscation, Trade Agreements, War on Christians, Etc...
Except your use of "the 1%" is in error. It's not the 1%, it's the 0.01%. The 0.99% are actually not only the scapegoats, via such propaganda as "the 1%," they also foot the majority of the bill for the 0.01% AND the poverty classes. Who do you think pays most of the taxes? The top 4.99% of wealth earners and wealth holders. And the 0.99% pays the biggest chunk. They don't QUITE make enough to buy off Congress and offshore their wealth.
The 0.01% are the ones fleecing everyone. Don't go after the person driving a nice car. Go after the person being DRIVEN.
If you have $100k in a savings account at the current rate at my bank you would earn $300 a year in interest.
But, we're supposed to be happy with that.
and lose $5,000 of purchasing power to inflation.
Will the new ruler still distract us with large breasts? Frankly, I, for one, could not live without being distracted by large breasts by government, and the MSM. Large breasts have political utility IMHO.
Large breasts? Where?!
How does a Jew say "Fuck You?" "Trust Me"
Nope indeed. Assh*le.
< Bernank is a Small Asshole (o)
< Bernank is a Big Asshole (( O ))
<------Bernanke is the biggest arsehole.
<------Bernanke is the arsehole of the World.
upside down by the heels, naked in public square right now.
Sure BERNANKE. That's why there are now 46 Million people on food stamp up from 24 Million in 07'. what bullshit.
Look at the positive side : The average compensation (salaries & bonus) of Wall Street employees has risen 14% this year. A great year to be in the securities industry thanks to the FED policies. You'd think the motherf*ckers had nothing to do with the financial crisis necessitating the need for QE, ZIRP and all the other sh*t shoveling money their way.
I'm up here in NH surrounded by stinking pandering politicians all over the place. What a waste of time presidential nomination politics is when it is the FEDERAL RESERVE in service to the financial industry that is running the economy (or better, destroying it)
'CREATE JOBS' well yes, in the gov't and financial sectors
Get the rope.
Like any sociopath, he isn't lying. He didn't say what kind of jobs, or how many jobs. He never said that QE was supposed to create high paying jobs.
QE did create millions of part time low paying jobs. It also created millions of H1B jobs.
Yes millions of high paying full time jobs were lost, but that was the objective.
Can you deny that since QE1 was unleashed millions of low paying jobs were created?
Look beyond the words to the sinister intent. Then you will understand.
Of course this will work since millions upon millions of (informed) Americans still believe the FED came to the rescue.
QE did have an impact on jobs. And if you notice he does not affirm that it was a long term good impact.
I have long held that there is a correlation between year over year profit growth and year over year job growth one year later.
Once QE started that correlation changed drastically.
If I study that profit data and the jobs data since the onset of QE, that correlation returns, though not as strong as prior to QE.
Here is what I posted just last week on my own site-once I had the third quarter jobs data.
Quantitative Easing and the Impact on Jobs-Disaster Looming Straigh Ahead
http://ejmoosa.com/blog3/2015/10/02/quantitative-easing-and-the-impact-o...
FUK U BERNAK!
The Fed can not measure ANY successes until UNTIL they accomplish an exit.
Otherwise, it is a permanent stimulus and a permanent deviasion from normalcy and free markets...
in short a failure disguised in phony rhetoric and managed markets.
QE
Another term for stealing wealth and giving it to the banksters.
As Peter schiff and Richard Duncan says, the Fed cannot exit QE now until a currency crisis occurs.
So QE goes on until a financial reset.
Fed's stuck in QE quicksand. And at 0 or negative rates.
It's not even a question of being really informed of the underlying data and having to sift through the evidence to determine he's wrong. Even a passingly interested person can tell the man is flatout wrong. Janet Yellen HERSELF admits that there is still significant "slack" in the labor market, and part of their rationale for postponing the hike is due to labor force participation and part-time workers wanting full-time employment. He is literally saying the opposite of what the Fed itself says today. If you are going to lie, at least try harder...this is just LAZY!
Sure has. Police keep getting hired everywhere I look. Paid by the taxpayers of course to protect Bernanke's cronies and generate revenue. I am still shocked evetyday people allow this Ponzi to continue.
Created or SAVED - so without QE all the current jobs would have been lost - so it was a win.
/s/
He says this shit knowing full well he is full of shit. It's a kind of " fuck you poor slobs" jab at everyone. I hope this man dies at the hands of an angry street mob.
Notice Bernanke's initials....
BS Bernanke.
Another way to interpret this criminal's statement is "If we didn't get our way we would have made sure millions more would have lost their jobs." Because if we do not do as we are told these people will no doubt do as much harm as they can. Not only financially but militarily.
A Liberal politician in Ontario claimed his government created 22 thousand jobs with Green Energy [solar panels & wind mills], but when investigative reporters investigated it turned out to be a lie. The only job that could be found was a part time job for a lawn cutter to remove debris buildup from around the solar panels once per week during lawn cutting season. All the other jobs were actually installation contracts, but no real full time jobs for anyone in our community.
Die, die, die, Bernanke.
don't forget Fischer and Yellen!
<"...The Fed can not measure ANY successes until UNTIL they accomplish an exit. Otherwise, it is a permanent stimulus and a permanent deviasion from normalcy and free markets...">
Absolutely true, and $5 Trillion in bad debt still "hidden" on their books. They claim, it would have been worse if they had done nothing, but when they try to get out, it will all collapse. So, they can NEVER get out, Ben has said as much. QE and zero rates forever, until it all slowly falls apart. Government mega-spending is holding it up too, as others have posted. but many contractors are just keeping people working and barely make anything on government contracts. They nickel and dime everyone to death. Yes, some in the MIC do get filthy rich on death and destruction.
And also true the big corporations created a lot of low-paying jobs or offshored even more...but to the Fed it is still a "success". Their main concern is to keep the markets elevated forever. Lousy earnings=more buybacks, more layoffs and more QE, bears get gored.
does Bernanke receive those $200k speaking fees for publicly spouting this delusion?
QE enabled .gov to spend a lot more nominal dollars on free shit for the 'gimmiedats'. Also, it allowed them to spend more on black op programs, war, snd tyrannizing the US populace. Double plus good, that, removing the power of the purse from the citizen's elected representatives. Nobody talks about the deficit anymore. They know that the printing press is ever-vigilent.
+100 for "gimmiedats"
he he heeee
I like benny, he's such a Wit, a F Wit.
I think each Job "they" created only cost $10,000,000 to Implement. Imagine if General Motors decided to create the Ultimate car that only cost 1 Million dollars to make each one but your going ro sell it for 30 thousand dollars, does that make any cents at all.
George Constanza "its not a lie if you believe it"
Question: What would Bernanke's IQ be if he was beheaded?
Answer: The same as it is now.
Just another clown that has failed his nation badly and irreversibly.
How did he fail Israel exactly?
Oh look, he came out and it isn't even Groundhog Day.
Did he see his shadow or do we have 6 more years of QE?
This is how we know we are *ucked. The people in charge suffer from groupthink and overconfidence. They have these academic theories that make no sense and can't actually be proven out (how does printing money create innovation and jobs when it seems to lead to M&A and layoffs, how is a higher cost of living PCE/CPI good when wages aren't growing as fast and who really believes the idiotic theory that lower prices cause people to delay purchases). They presume they are smarter than the markets, do dumb stuff then FAIL miserably by their own measures (remember, GDP has missed the Fed's forecasts every year and Japan is still a disaster after 20 years of ZIRP and QE).
It's just unbelievable that they still have the keys to the car.
this is no overconfidence or groupthink, this is an outright blatant (and sadly largely successful) exercise at damage control, the economy being in deep shit, and the economists and reporters of the presstitute media outlet playing in accord at covering up just how much deep the shit is. The advertised unemployment rate in the job reports includes only the people looking for a job under a year long, when you count in the so-called long term discouraged people, who don't look for a job anymore, and thus don't appear on the balance sheets of the employment agencies, you get a number somewhere closer to 25-30 per cent of the total US workforce all across the nation.
Well, there you go, by his own official admittance Bernanke is Frankenstein: QE in order to 'Create Steve Jobs'.
I mean, this is what he must have meant.
yesterday you had Steve Jobs, Bob Hope and Johnny Cash...today you have no jobs, no hope, and no cash...
>"Peak Self-Delusion" or just another Big Lie?
Both. And it takes a real man like Ben to do both at once.
Wait a minute, "create jobs", well, don't you feel you've been jobbed?