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Bernanke Lecture II Decrypted, Inflation 79: Deflation 0

Tyler Durden's picture


The word 'inflation' dominated the words and thoughts of the propagandist-in-chief as he described the Fed's role in the global economy post World War II this afternoon. The 11,400 word speech contained a record-breaking 79 uses of the term 'Inflation' and exactly Zero uses of the word' Deflation'. Subliminally, we notice that the word 'might' is randomized in between the words 'Prices' and 'Inflation' and the words 'War' and 'Risks' are uncommonly tangential. We know in our hearts that the 8 uses of the word 'Paul' was Volcker-related but its proximity to the word ' bit' and 'inflation' leaves us questioning the deus-ex-machina that is Wordle and Bernanke. 'Monetary policy' and 'crisis' pop up a lot and it is evident that we have a 'financial economy' with the word 'Stable' only appearing 0.0015% during the speech.



Source: Wordle

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Thu, 03/22/2012 - 16:04 | 2281606 GeneMarchbanks
GeneMarchbanks's picture

Inflation 79 + Deflation 0 = 1.... Clusterfucklation


Thu, 03/22/2012 - 16:05 | 2281617 resurger
resurger's picture


all is well

Thu, 03/22/2012 - 16:18 | 2281686 flacon
flacon's picture

Where is the "Nobel" or "Prizewinner" words?

Thu, 03/22/2012 - 17:23 | 2281872 Thamesford
Thamesford's picture

no "Helicopter"? :(

Fri, 03/23/2012 - 01:05 | 2282567 comrade pravda
comrade pravda's picture

I am curious to know the date (past or future) on which Ben Shitter realizes that all along he has simply been a stupid tool used by the likes of vampire squid to provide them with the wealth of the American people.

Ben yaps in public to attempt to provide a little academic cover for blatant theft by the worst criminals in the country.  Ben, how cheaply do you sell yourself?  Are you a $20 crackwhore or a $2000 a night hooker?

And by the way Ben, when you stop being useful, they'll throw you out with less grace than a $20 whore enjoys.

And by the way two Ben, it will be your name in the history books connected to the destruction of the American economy.

For those who are wondering where the name "Ben Shitter" comes, it turns out that Ben no longer rates a helicopter for his money drops.  Instead, he is expected to just shit Benjamins.  Hence, "Ben Shitter".

One final question, Ben Shitter.  We know that Rubin made a huge pile by stealing from America.  We know that Summers got to be fat and and president of Harvard and took a nice pay-out from the Shaw folks.  We know that Greenspan got laid and convinced a few people that he is not a total fucking moron.  So my question is,  "Ben Shitter, what are you getting by being a whore?"

Thu, 03/22/2012 - 16:07 | 2281618 Pladizow
Pladizow's picture

Manage expectations by inflating the use of the word inflation.

"Think of the press as a great key board on which the government can play." - Joseph Goebbels - Nazi Minister of Propoganda

Thu, 03/22/2012 - 16:13 | 2281660 SHEEPFUKKER

Yup, ZERO is my score for Bernanke as well.  

Thu, 03/22/2012 - 16:16 | 2281682 Gully Foyle
Gully Foyle's picture

Going back to the Chinese coup mentioned the other day.


Chinese coup watching

Last week, controversial politician Bo Xilai, whose relatively open campaigning for a seat on China's top ruling council shocked China watchers (and possibly his elite peers, as well), was removed from his post as Chongqing's party secretary. He hasn't been seen since. Rumors of a coup, possibly coordinated by Bo's apparent ally Zhou Yongkang, are in the air.

Western media has extensively covered the political turmoil: Bloomberg reported on how coup rumors helped spark a jump in credit-default swaps for Chinese government bonds; the Wall Street Journal opinion page called Chinese leadership transitions an "invitation, sooner or later, for tanks in the streets." The Financial Times saw the removal of Bo, combined with Premier Wen Jiabao's strident remarks at a press conference hours before Bo's removal as a sign the party was moving to liberalize its stance on the Tiananmen square protests of 1989. That Bo staged a coup is extremely unlikely, but until more information comes to light, we can only speculate on what happened.

Reading official Chinese media response about Bo makes it easy to forget how much Chinese care about politics. The one sentence mention in Xinhua, China's official news agency, merely says that Bo is gone and another official, Zhang Dejiang, is replacing him.  But the Chinese-language Internet is aflame with debate over what happened to Bo and what it means for Chinese political stability.

Mainland media sites have begun to strongly censor discussion of Bo Xilai and entirely unsubstantiated rumors of gunfire in downtown Beijing (an extremely rare occurance in Beijing). Chinese websites hosted overseas, free from censorship, offer a host of unsupported, un-provable commentary on what might have happened in the halls of power. Bannedbook.org, which provides free downloads of "illegal" Chinese books, posted a long explanation of tremors in the palace of Zhongnanhai, sourced to a "person with access to high level information in Beijing," of a power struggle between President Hu Jintao, who controls the military, and Zhou, who controls China's formidable domestic security apparatus. The Epoch Times, a news site affiliated with the Falun Gong spiritual movement (which banned in China), has published extensively in English and Chinese about the coup.

Speculation is rife: A Canadian Chinese news portal quoted Deutsche Welle quoting the Hong Kong newspaper Apple Daily quoting a netizen that a group of citizens unfurled a banner in a main square in Chongqing that said "Party Secretary Bo, We Love and Esteem You," and were subsequently taken away by plain-clothes security forces. A controversial Peking University professor Kong Qingdong, a 73rd generation descendant of Confucius, said on his television show that removing Bo Xilai is similar to  "a counter-revolutionary coup;" one news site reported his show has since been suspended.

The Wall Street Journal reports that searching for Bo Xilai's name on Baidu, China's most popular search engine, lacks the standard censorship boilerplate ("according to relevant rules and regulations, a portion of the search results cannot be revealed") that accompanies searching for top leaders like Wen Jiabao and Hu Jintao. A recent search for other Politburo members like Bo rival Wang Yang and People's Liberation Army top general Xu Caihou were similarly uncensored. Conversely, searching for Bo's name on Sina's popular Weibo micro-blogging service now doesn't return any relevant results. A censored fatal Ferrari crash on Sunday  night has raised suspicions of elite foul play, possibly realted to Bo. The bannedbook.org reports that Hu and Zhou "are currently fighting for control of China Central Television, Xinhua News (the official Communist Party wire service), and other ‘mouthpieces,'" which have been eerily but unsurprisingly taciturn about Bo Xilai.   

What we do know, as one message that bounced around Sina Weibo said, is that "something big happened in Beijing."

Thu, 03/22/2012 - 20:35 | 2282221 WhiteNight123129
WhiteNight123129's picture

You will see a coup in the US  before you see one in China, nice try NSA troll.

Thu, 03/22/2012 - 16:32 | 2281746 AgShaman
AgShaman's picture

79....elemental number for gold on the periodic table

Thu, 03/22/2012 - 16:04 | 2281609 Dr. Richard Head
Dr. Richard Head's picture

Word iCloud.

Thu, 03/22/2012 - 16:05 | 2281614 AL_SWEARENGEN

That cocksucker Bernake might say inflation a lot, but he never defines it.

Thu, 03/22/2012 - 16:25 | 2281712 VulpisVulpis
VulpisVulpis's picture

I would like you to know that I appreciate your use of accurate Al Swearengen verbiage and vernacular in all of your posts.


I loved that show.

Thu, 03/22/2012 - 16:35 | 2281759 AgShaman
AgShaman's picture

I second that emoticon (thumbs up!)

"Free....Fuckin Gratis"!!!!!!

Thanks for the memories

Thu, 03/22/2012 - 16:07 | 2281624 LawsofPhysics
LawsofPhysics's picture

Surpirised to see that the word "sustainable" wasn't a bit more prevailent.

Thu, 03/22/2012 - 16:09 | 2281635 lizzy36
lizzy36's picture

And he stated about 4x that monetary policy did not play a role in the housing boom/bust/bubble.....phew.

Thu, 03/22/2012 - 16:11 | 2281652 Paul Atreides
Paul Atreides's picture

Bernankatank....I don't know why I just typed that....

Thu, 03/22/2012 - 16:12 | 2281656 LongSoupLine
LongSoupLine's picture

"Much Fed Inflation Policy" is what I read...

Thu, 03/22/2012 - 16:15 | 2281672 csmith
csmith's picture

Deflation...the great unmentionable that he is FRANTICALLY trying to forestall with every fiber of his printing press...

Thu, 03/22/2012 - 16:27 | 2281720 kito
kito's picture

@csmith----not really....right now hes sweating, hoping to get through the year without any further printing, he is fully aware of the possiblity of jacking oil and gold to new record highs once he unleashes the next round.....so for now, he waits, hoping for deflation to set in a bit more, without triggering a market panic first.....bridgewater capital discussed this "balancing act", trying to allow printing and deleveraging to maintain equilibrium................

Thu, 03/22/2012 - 16:22 | 2281703 Benjamin Glutton
Benjamin Glutton's picture

the Q & A rattled the quivering lipped Professor.

Thu, 03/22/2012 - 16:23 | 2281708 THECOMINGDEPRESSION

No word of GOLD today? Must have blown his cookies yesterday.

Thu, 03/22/2012 - 19:50 | 2282131 Papasmurf
Papasmurf's picture

No way.  He's been dead stick for a while.

Thu, 03/22/2012 - 16:25 | 2281714 the not so migh...
the not so mighty maximiza's picture

Save us all, inflation will.

Thu, 03/22/2012 - 16:35 | 2281753 akak
akak's picture

Does this really surprise anyone?

When has a central banker EVER, under a fiat currency regime, allowed deflation to actually happen and the currency to APPRECIATE in value?  Zero times. 

Now, how many times have central bankers done the exact opposite: monetized the debt and debased their fiat currency, often to the point of monetary collapse, particularly during times of national fiscal distress?  More times than I can count.

Literally BILLIONS of people in just the last century have had their savings (and standards of living) destroyed by inflation --- not ONE has ever suffered the same under any deflation.  So for those still fearing the possibility (however remote) of deflationary ripples on the pond, I suggest you guard yourselves against the inevitable 100 foot inflationary tsunami instead.

Thu, 03/22/2012 - 18:30 | 2282003 jimmyjames
jimmyjames's picture

Literally BILLIONS of people in just the last century have had their savings (and standards of living) destroyed by inflation --- not ONE has ever suffered the same under any deflation. 


Take for one example the housing market-

The people who were sensible and did not go 100% into hock to buy a home were destroyed by banks giving money to the no money credit buyers who in competition with real money buyers drove the values to unsustainable levels (inflation of asset prices) and when the bubble popped and house prices fell by 50% (deflation of asset prices) ie: personal balance sheet loss--that deflation hurt all home owners and it killed the banks which taxpayers had to bail out-

Theft = first by inflation and then by deflation

Fri, 03/23/2012 - 05:03 | 2282783 akak
akak's picture

You raise an interesting point here JJ --- thank you for making it.

Thu, 03/22/2012 - 16:59 | 2281816 drbill
drbill's picture

Do you think that The Bernank actually believes what he is saying, or is just saying what he's been told to say?

Thu, 03/22/2012 - 17:05 | 2281826 Quinvarius
Quinvarius's picture

"Make price 2000s"  Is that AAPL or gold  he is talking about?  He won't have any luck keeping gold down in the 2000s.

Thu, 03/22/2012 - 17:17 | 2281858 Everybodys All ...
Everybodys All American's picture

Common sense - 0

Thu, 03/22/2012 - 17:45 | 2281928 slaughterer
slaughterer's picture

Obama is going to fire Bernanke.  That is why Bernanke is getting his feet wet with teaching again.

Thu, 03/22/2012 - 17:52 | 2281939 r00t61
r00t61's picture

But I thought the Federal Reserve was "independent"...so it could be free and unencumbered by politics.

Or so sayeth kindly bankers.


Thu, 03/22/2012 - 20:50 | 2282253 Dingleberry
Dingleberry's picture

Obama ain't firing anybody. He doesn't call the shots. Or do you believe otherwise? Let Obama fuck with the "bansters boyz" and see what the fuck happens....

Thu, 03/22/2012 - 17:51 | 2281933 bobola
bobola's picture

Falun Dafa (Falun Gong) constantly uses the word cultivation;  http://www.falundafa.org/book/eng/dymf_1.htm

If anyone here knows a devotee of Falun Dafa, you understand why cultivation is used over and over and over....

Inflation apparently permeate's Bernanke's mind

Thu, 03/22/2012 - 19:07 | 2282057 Bansters-in-my-...
Bansters-in-my- feces's picture

I see Bernanke did not talk about himself or the word "delusional" would have had to come up.

Thu, 03/22/2012 - 20:23 | 2282198 lsbumblebee
lsbumblebee's picture

"Stable" was used a second time in proximity to "horseshit", but the last 18.5 seconds of the speech was mysteriously deleted.

Fri, 03/23/2012 - 02:50 | 2282739 StockMarketBott...
StockMarketBottom.com's picture

Stock market bottom 2012


Fri, 03/23/2012 - 14:09 | 2284373 tyrone
tyrone's picture

any TRANSITORYs in there?

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