This page has been archived and commenting is disabled.
CTRL+SPIN 2: The Fed Propaganda Tour Live (Again)
A mere two days ago we were enlightened on the glory of the central banking system and the general denigration of sound money and the gold standard as Part 1 of Bernanke's re-education lecture series. Today we are treated to Part 2 - a historical perspective of how the fed has saved the world since World War II. As we watch the stream below, we suspect the word 'inflation' will outpace 'deflation' and 'monetary policy' will dominate 'intervention' or 'picking-winners' as the Chairsatan presents his view of the world-according-to-central-planners.
Some headlines from his speech:
*BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE
»
- 8114 reads
- Printer-friendly version
- Send to friend
- advertisements -
Get your popcorn ready...the kernels are ready to inflate
how is this speech anything but ANTI-CAPITALISM? How is Teh Fed anything but ANTI-CAPITALISM? Bernank only speaks here of straight-up market manipulation and the student-sheeple take notes -- if that's the future, then folks we deserve what we get!
"inflation is a thief in the night..." then bernank is a thief-rapist all day and all night.
There are so many jobs out there that apparently there is going to be a labor shortage soon... hmmm(*)...
http://finance.yahoo.com/blogs/breakout/too-many-jobs-look-ahead-next-labor-market-144556623.html
(*) Note to self: Is it possible that the world around me has gone insane ?
I sincerely hope that there will no disruptions to this educational initiative by rowdy libertarian college students or Ron Paul loonys. Bernanke is under absolutely no obligation to spend time with the general public. He has a very hectic schedule, and he is making a large sacrifice by spending time with the ignorant public who still do not understand even the most elementary concepts underlying modern monetary policy. So for the sake of decency and humility, why not show some respect.
I haven't been keeping track of which pretend trolls are posting jokes like this. Are you Harry Wanger? Haven't seen that psuedonym in a while. If you want to bait some honest flames you're going to have to tone it back a little. Too obvious.
Live blogging in the chat! Bernanke: Blow by Blow. Came chat dudes and dudettes!!!
Haaaa..there in lies the rub, you bit and then took the time to write something.
IGNORE TROLLS...DO NOT EVEN JUNK THEM....it SHOWS YOU READ THEM!!!!
And, THAT IS what they want.
poor mdb, he took that whole "opposite day" prank in 5th grade way too seriously..........................
"I swear to tell the lie, the whole lie, and nothing but the lie, so help me Greenspan."
now that's what I call concentrated #winning
Keep it up kito you made me laugh twice today.
Respect? Respect indeed, respect for hard working people that save in fiat currency, oblivious to the fact that they are being raped, respect for those that call on this madness to stop, respect for your fellow man, respect for those that stand up for civil libertys. IN NO WAY DOES BEN B SPANK ME WARRENT ANY RESPECT any that is due begind with dis, disrespect this toenail clipping from satans big toe.
This morning I finally figured it out...
MDB is NOT a brilliant master of parody as many have reasoned.
MDB is, in fact, CNBC's Steve Liesman.
Again, MDB showing he is the supreme king of all trolls. How can you not bask in the shear brilliance of his work. His writings are perfect contradictions to all that's logical, decent and accurate. It's difficult to write like that, and all you other hack trolls need to take notes if you wish to remain in the good graces within these halls of truth. I for one salute his presence here at ZH...other than the fact I pee myself every time I read his literary art.
holy crap folks...it's sarc!!
Dude, you forgot the <sarcasm> </sarcasm> tags.
dude, apparently on ZH the use of "milliondollarbonus" is equal to /sarc :D
'.. why not show some respect'?
Because people who actually understand whats going on, know he represents evil. He is an enemy of human life, and does not deserve to live.
Money is a commodity - its the the most marketable of all commodities, everyone needs it, and has almost unlimited demand for it - but these guys have created a total monopoly on money (with pure and naked force) and have the nerve to say the system is a capitalist (free) system. Seems to me, if the state decided that they were the only ones lawfully allowed to supply you with water, you would say 'lets give them a little respect' while they manipulated the water supply, killing thousands, destroying entire societies for their own ends.
Make no mistake, these people know exactly what they are doing - and I don't care what suit you wear, or how you brainwash people into thinking you have some authority - murder is murder, and this guy is an integral part of a murderous group who have nothing in common with the human beings that they are destroying.
While money, food, water, information and energy are controlled by secret monopolies, through the use of force - then all men will remain slaves to those who they foolishly allow to have such powers.
Right, because we all know we should show respect to our fuedal overlords who rob us blind to pay their buddies.
mini-B, only -40? Keep trying...
# According to Conor Sen of Minaynville.com, the country's worries may be overstated
its according whatever his idiotic name is...
its called propaganda.. read Orwell 1984 , truth is lie , lie is truth..
nothing is new under the sun
alx
ps
i got a few friends from former USSR, back then in late 80x, there was pretty much nothing to eat.. so on TV experts constanly said "SUGAR IS WHITE DEATH, MEAT IS RED DEATH, BUTTER IS CAUSE OF HEART disease" ..
Wait a minute...There WAS NO HOUSING BUBBLE to go bust, at least according to The Bernank's absolute conviction ("housing prices have never fallen on a YoY basis...blah blah blah") as of 2005...I'm confused...WHAT????? - see 1st link below.
Barking, blathering, bullshitting, bubble blowing Bernanke; why the need to go on the 'Defensive Disinformation [Propaganda] Campaign' with such zeal and fervor, Bernank?
Maybe if The Bernank keeps repeating the lies & bullshit often, openly & insincerely enough, he can stoke even more hatred and vitriol towards both he and the fractional reserve pyramid schemers even more fully than he has already done, and if so, I say Godspeed Bernank!
-
Bernanke: "There's No Housing Bubble to Go Bust" - The Washington Post
Washington Post -- Thursday, October 27, 2005
The Creature from Jekyll IslandFor a little instant gratification.
http://www.archive.org/details/Creature_From_Jekyl_Island
None of us can understand how the good people of Washing DC think because they DO live in a different world and have NO concept of yours.
The chairsatin is right...there was NO housing BUBBLE IN DC, all 10 square miles of it,...the prices held and went up actually. It is beyond the beltway that the housing collapse happened but, unlike Sara who can see Russia from her porch, the chairsatin can't see beyond the bottle of champaigne on his desk. Cheers !
The problem is MSM will keep the truth under control just the way corporate America wants...150 channels of mindless, worthless, simplistic garbage for the masses to chew on.
I am providing & raising funds to buy large batches of The Creature From Jekyll Island and Bubble Blowing Bottles w/Wand, so that the recipients of The Bernank's nervous, stuttering lies will have something worthwile to read and something recreational to do as an worthy alternative to have to listen to The Beard who confidently made all the right calls on cnBSc interviews (all the gang of diligent reporters like Liesman, Bartiromo & Joe Kiernan did the interviewing) a few years back <sarc>:
Ben Bernanke's Brilliant Forecasting (on housing, banking sector health, employment and inflation)the students are completely screwed if this is what they're paying for. Something is wrong with Bernanke, he seems to be hypnotized or out of it all the time. Maybe he was mkultra'd in the service of operation mockingbird.
pffft Capitalism
from now on we can all have Cheezeburger
I wonder if the wankster will talk about how the value of the USD has lost over 90% since the Fed was created.
The sad part is the Fed wouldn't be doing this if the average American lemming didn't soak it in like corn bread to gravy.
my neighbor's aunt makes $67 hourly on the laptop. She has been fired from work for ten months but last month her check was $20142 just working on the laptop for a few hours. Here's the site to read more .... http://lazycash9.com
fuck your Grandma
I think that's the idea.... no teeth
long GUMZ ?
So if she made $20k and gets paid $67 per hour, Aunty had to work on the laptop for 10 hours per day, every day of the month?
Sounds like a fun gig. /sarc
If you are going to spam, please say something about how Aunty now had a porshe and a pool boy.
We are a bit smarter here.
Can someone throw a shoe at him? no I mean throw a 100$ bill at him?
or an ATM machine?
Automated Teller Machine Machine? ;) Former bank teller.
picky, picky, . . . well, then someone please push the button and send one of those pneumatic drive-thru carriers with a brick in it at the honourable lectern. :-p
Automatic +1 from me for the avatar.
I hate that, so I usually say "I need a cash machine machine."
tvix down 16%
due to natural causes of the market
/s
Meanwhile VIX is up WTF?
The VIX has little meaning anymore..like so many things.
VIX is up? All the way up to 16! What a hoot! That's still as low as whale shit on the bottom of the ocean!
True - but Vix is up 5% and TVIX down 16% for the day ?
At what point does this become a criminal offense?
Straight 'A's, bitchez!!!
muppet show
again
"Keynsian Youth" re-education--administered by our cherished leader. DVD copies will be mandatory viewing for all citizens of the USSA.
Did he just say "pump up the economy before an election"?
Did the Bernank just say "inflation is a thief in the night" ?
Focus group results show biblical phrases have greater impact w/NASCAR demog --
And Bernanke is a rapist by day.
Did the Bernanke just say "you didn't need to work anymore...just keep checking real estate listings" ?
Did the Bernank just say, "the value of the CDS, or whatever these things are" ?
Did the Bernank just say, in relation to the financial crisis, "I was obviously too late" ? If so, then should we be concerned about his ability to not be "too late" regarding snuffing out inflation, that he still does not see, in a NY minute?
Did the Bernank just get punk'd by a 20 year old on the matter of Fed controlled interest rates being part of the problem per deteriorating credit standards?
Did The Bernank just summon FDR and say "a Federal Reserve Note dispensing machine in the kitchen of every best friend of the FRBNY?"
Hmmm? I did not hear that...but I bet J. Dimon did.
If THIS is 'the pumped up economy for happy-happy smile time elections'....WOW are we fucked!
If their software is working correctly they hope to be able to pump the economy with the vapid drivel that pours out Benny's mouth like sewage from an outfall. Newsflash: "The IMF will be liquidating a google tonnes of gold any minute, only suckers would hold precious metals."
Are Centralbanks Buying Gold Secretly?
Confusion about alleged increase in British gold reserves .There were rumours again yesterday that a western central bank had restocked its gold reserves or is planning to do so.
more:
http://www.mmnews.de/index.php/english-news/9763-are-centralbanks-buying-gold-secretly
Roosevelt
"It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat."
"Inflation is like a thief in the night".
Muppetonomics 101
WTF is up with TVIX today????
Likely going to resume issuing "Creation units" over at the creaction unit machine, where the criminal syndicate known as Wall Street prints infinite units over a finite set of underlying....ummmm....issues....ummmm...options on options...over top of...ummm....swaptions....ummmm...whatever. It is currently a broken instrument.
yes! you cant even hedge your long positions anymore!!!
Who created these things.....SEC aliens TVIX broken like the rest of the market...
Someone's unwinding...
Certainly not its price, although volatility is higher on the day. CS issued a statement yesterday saying it "has temporarily suspended further issuances of the Velocity Shares Dail 2x VIX Short-Term ETNs... due to internal limits on the size of the ETNs."
the lady doth protest too much, methinks
alx
Most evidence shows the FED didn't see the Housing crisis coming...
esp. that good VIDEO evidence of Ben's famous quote
Not until 2008 anyway - LOL
Bernanke is GD moron. No matter what he won't make the connection between money creation and inflation. He thinks it is all about rates. Newsflash. High rates have never stopped inflation anywhere on the planet...ever. Not even here in the 1980's. It is all money creation.
No, he's not a moron. He's a professional liar.
With no one left except morons or Jr High School kids left to believe him.
*BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE
This sentence makes no sense. Most evidence doesn't show that US has high employment rate. I have a job, my friends all have jobs, i don't see jobless people on the street, ...
*BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE
This statement is technically correct! Depends on what you count as evidence....the fact that I am not homeless could be considered evidence that the Fed didn't cause the housing bubble...
"Bubble...what bubble?"
---Ben Shalom Bernanke
PHUCK the PHED !
key: PH = no, you bend over
Most evidence shows that most evidence is manipulated and interpreted by the Fed, their banker friends, and academic sycophants that they fund, directly or indericty
oh, and of course, in spite of dollar up, yen up, bonds up, commodities down, foreign stocks down ... guess what? Nasdaq 100 going green. Thank your friendly neighbourhood central banker. Is the PPT part of the lecture?
Well, theyre about out of time obviously with this bizarre FED indoctrination tour of Jr High kids. Whats next on the FED tour list, Special Ed classes?
why does he do this shit? doesnt he know tptb are setting him up for the fall?
He's raises his right hand and promises to tell the truth.
LMAO!
Hey, umm, is there something wrong with the financial system?
Oh man, that stinks. Oh well, I'm sure they'll fix it soon.
FED has to try to indoctrinate children as a last resort of anyone who might possibly be left to believe them.
If I had a kid at a school one of these lectures was being shown in I'd be raising holy hell.
I WOULD CALL HIM IN SICK
No you shouldn't. Just take the time to calmly explain to him later what the real deal is.
The kid should sooner or later understand that any info that is presented to you on a platter is suspect, even if it's advocate has nice beard and looks respectable.
If you really want to understand something you need to go digging yourself or at least hear out everyone, including the nutters. The sooner the kid understand that, the better.
If he is in front of the public why isn't he in handcuffs? Arrest that evil murderer and thief of retired persons medications. Call the cops. He is spreading financial Terrorism. Call the FBI. He's stealing the Grandson's tuition. Call the DHS the demon that breaths with the death of Armegeddon is out walking in public. Call his mother and have her tell him to stop it. Call his dominatrix. Somebody do something.
Here is Bernanke telling us how Volcker stopped inflation by raising rates at the same time gold rose to correct price to back the dollar. Gee. I wonder what really stabilized the dollar?
Volcker didn't do crap. The dollar stabilized when it was backed by gold at the correct historical ratios.
WTF TVIX? This is such a crock of shit. Situation normal. Everything's fine here...how are you?
that just caught my eye and I said wow
yeah i got screwed on the VXX as well!
All is rigged!!
agree market broken....shit is crazy lol
I thought the dog pooped in the house.
Then, I figured out it was Bernanke's bullshit stinking up the joint.
LOL wow....and all those young sycophantic sheeple just keep diligently taking notes. Taking everything the ChairSatan says as Gospel truth.
It would be laughable if this asshole wasnt in charge.
You can't see the crowd control guys in the back of the room with the big sticks.
Hey how about that fucking TVIX
Using the Nazi model of "telling a big enough lie long enough, and you will get mass belief in it" or words to that effect. Works like a charm with the masses and media, apparently.
The mosque being constructed in your city center will bring you peace and fulfillment.
Your fear is based on misunderstanding and prejudice intensified by radicals that don't represent the corpus of Islam.
Iran isn't a threat, they are a victim of circumstance.
God is great
Man I wish I was that smart. Biggest decisions in the history of the world and they have never messed up. All that studying of the great depression really paid off.
What's really mindboggling, he was the fastest swimmer.
Bernake:
most of the economists that are in my pay, depend on fed grants, publish in the journals the fed has editorial staff on, and want to at some time get a job at the fed state: the fed did not cause the housing bubble.
Well I guess that's another of his misstatements that is the truth but in fact a lie. after all the fed didn't do the lending directly. It also just happens to leaver out their regulation of the mortgage market
I'd beg to have 10 minutes alone in a locked room with this sociopath.
This is interesting... Bernanke's take on the housing bubble sounds like someone edited Peter Schiff's mortgage bankers speech, but cut out any reference to low Fed rates.
"If this were the last debt ceiling increase you could ask for, the final one, and you had to make it large enough for all current and future obligations, what would the request need to be?" Congressman Trey Gowdy (R-SC) asked Treasury Secretary Tim Geithner at a Capitol Hill hearing on Wednesday.
"I don’t know how to answer that question," Geithner said to Gowdy.
After being prodded by the Congressman, Geithner eventually told him, "it would be a lot."
“It would be a lot,” Geithner finally said. “It would make you uncomfortable," he added.
Its obvious that MillionDollarBonus is a paid govt/banker troll.
Fuck off douche bag.
Ps....what the fuck with silver....
Down over a buck...
Fuck you ben and timmy.
Gold and Silver both in backwardation, bitchez...
Buy the living hell out of both.
do people actually believe the government would pay people to troll zerohedge?? lol
they pay people to surf porn, don't they?
Good, buy some more. I did.
I'm taking this course and Palestine Never Existed 101 with Professor Dershowitz to complete my prerequisites.
Magical Misery Tour
They're probably passing the kids ADHD drugs before he speaks.
"BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE"
if you ask a room full of crack addicts and economics professors, then you can make that claim....otherwise bernankula is so full of shit that a single ex-lax tab would cause him to disappear into a mound of salt 2" tall - an inch longer than his dick...
Why is he ignoring from the time of the sept 11 terror attacks the fed was aggressive to lower rates, causing the housing price incline! The tail doesn't wag the dog. Unreal spin doctor, unreal! Peter shifts head would have exploded if he was there live.
He got a little aggressive on His side beard trim, I guess it wasn't him, but increased razor demand, because he or the fed can do no wrong
Right ChairSatan,,,,RISKY POSITIONS, like your pet, JP MORGUE and their $80 TRILLION in 'OFF BOOK' derivatives. Those types of 'RISKY POSITIONS'? He blames it all on Lehman and Bear Sterns. What a Fucking fraudulent con artist.
BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE
Too bad that the evidence that shows the Fed did cause the housing bubble happens to be correct!
Hey Chair Satan, tell all the little SHEEPLE how you, Paulson, and Bair had to collude with Jimmy Demon to STEAL WAMU through government fraud, in order to prop up and SAVE JPIG for the worldwide 2008 catastrophe that all of you frauds in charge created.
Lets hear that truth from you. Holding my breath, right now !
There is no way the fed in 2006 was discussing the overpricing of the housing prices as they were lowering rates and there is a quote by him later in time saying how there will never be a country wide decline in housing prices
BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE
Too bad that the evidence that shows the Fed did cause the housing bubble happens to be correct!
HA HA HA HA HA HA. Close to zero interest rates, community reinvestment act, Freddie, Fannie, FHA, tax deductibility of mortgage interest, tax free capital gains on home sales, etc, etc.
That's right delusional Ben, the government never did ANYTHING to promote real estate speculation ever.
Of course super low rates are a factor in the formation of bubbles. Only a liar would say they are irrelevant. Thou doth protest too much.
Ok now my views are "controversial" that's as good as "transitory"!
It is tradition that transitory views are controversial.
If people would have just a simple, basic understanding of money and policies related to money, the entire hell would & should break loose overnight...
Occupy WS should be really OCCUPY THE FED, but try to get even 300 feet away from that building and see what happens to you...
the fed is not federal, has no reserve, is not EVEN A BANK !!!
PEOPLE WAKE THE FUCK UP AND SMELL THE COFFEE BEFORE WE ALL SMELL THE SHIT THAT WILL PASS OUR HEADS....
"If inflation stays low, the fed has more leeway" ~ Bernanke
So PRINT, PRINT, PRINT motherfucker!
What troubles me and I believe the sentiment is shared by Zero Hedgers is the following.
If we as 'people' put a foot wrong. Lose a job or a business - we will still be called upon to pay up for our obligations. If not we may be brought before court, possibly arrested and so on and so forth. The small guy who is by definition teetering o the edge of potential financial failure must play by the rules and be strictly subject to the rules and laws.
We dont get to hide/delay our situation in off balance sheet derivatives. We don't get bailouts, tarps, LTRO, 0% money to re-invest and get by. This is why the system stinks, literally stinks. The bankers get to pay bonuses off loses, continue business, six seven figure bonuses etc. This is a rigged game.
I am employed in finance but finance is larger than the real economy with derivatives etc. Actually most of these insolvent banks should have shut down, let their employees go and potentially re-balance the economies somewhat away from these financial ponzi scheme excesses. The fact they did not do so indicates a) the collusion and lack of willpower or worse yet b) the belief that a rebalancing away from ponzi to substance is unachievable.
Find out who our real bosses are, how this benefits them, and you'll answer all your own questions.
Getting the "right balance". Which is exactly why the Fed can't do the job! Certainly not better than a free market. This guy doesn't even see his own arrogance.
It's always great to hear a central banker say that inflation was "almost zero" as if this is the worst thing that could ever happen to an economy, or his belief that inflation is OK as long as it doesn't cause wages to rise.
And if it's "all about balance", why does policy always favor the banks at the expense of the general public? The balance he strives to achieve is totally in the eye of the beholder, and the beholder resides on Wall St.
Inflation would be awesome if wages rose, you would borrow 1000$ when you earn 10$ an hour and a month later you would be earning 100$ an hour.
One could pay a mortgage off in a year!
The problem is they lend you 1,000,000 , inflate your cost of living and keep your wages down/force your wages lower.
So you just endup working for "moot" because you aren't going to get to keep anything you work for in the end.
The smart ones are the ones who live and work outside of cities.... dont depend on no one, dont have to work 12 hours a day just to put food on the table... lol you go outside to your fucking garden and grab food.
Fucking asshole banks.
Wow, some of the kids are asking some good questions. And of course, Bernanke responds by "duh duh duh, uh, uh, we didn't anticipate this!".
That's a good question! Next question?
"On a scale of 1 to 10, how much is your prediction about inflation complete bullshit?"
"We'll talk about that in the next session."
If the Secret Service is present then those students that ask harsh questions will be deemed "prostestors" and will be dissapeared!
beligerant of the state = guantinamo holiday. :)
Enjoy your Spring Break on Guantanamo Beach, bitchez!
He's very good at not actually answering the question..
I love how Bernanke kept saying "yes, another controversial question".
Of course they were. Your policies suck. Did you expect the questions to be a walk in the park?
Actually it seemed to me that based on the issues or catalyst that the students raised in their questions demonstrates that they may not be on board with the Feds opinions. I'm sure all questions were vetted and they were given stern instructions not to offend the honorable Bernank.
Yuk , if I hear "Mr. Chairmen" again im gona puke.
What is this shit? hes not royalty, he doesn't have any "title", hes not Government.
As far as I am concerned he should only be called "Mr. Burnbanke".
-
My favorite part was the question on transparency He was like "WO WO OOOO WOOOOO OFF TOPIC TAKE IT EASY THERE" then its like "well um transparency is important because BULLSHIT...
The fed is one of the most secretive organizations on the freaking planet.
I vote we assemble a counsel to restructure the monetary / financial system from the ground up, the first rendition of the Matrix has too many flaws when population / participation in the system rises too much.
This system only works under low volume... its not designed to handle the stress of 300 ~ 400 million people . . . the combined purchasing power of the masses causes too much fluctuation in the market.
not that bad, am i a sheep now?
To be fair, I don't think the Fed was the primary culprit causing the housing bubble. I think that banking deregulation (Gramm-Leach-Bliley, leading to widespread securitization of mortgages) and Fannie/Freddie mandates were the main causes.
But I think the Fed did nothing to stop the housing bubble from developing and in fact added fuel to the fire by not raising interest rates when it should have. Also, Greenspan implicitly blessed the bubble when he suggested that homeowners should consider switching to ARMs.
I agree with that, but did the banks make that legislation happen, too? My feeling is that any financial legislation must get their approval.
I agree with that, but did the banks make that legislation happen, too? My feeling is that any financial legislation must get their approval.
Only a Princeton professor with degrees from Harvard and MIT could make such stupid statements and not be laughed out of the room. These people are so consistently wrong that betting against them is a sure thing.
One day Ben will wake up to realize that there was a flaw in his logic, and, therefore, his entire life has been a fucking sick joke and waste of time. Similar to what happened to Sir Alan the Greenscam.
Holding interest rates low to counter the Dotcom collapse was THE proximate cause of the housing bubble. Ben may not have been Chairman (Greenscam was) but he was at the crime scene, and to think that the Central Bank would make money available so cheaply that housing speculation seemed like easy money did not create the housing bubble is the pinnacle of arrogance and denial.
The amazing thing about these lectures by the Bernanke is that he hurts himself by opening his mouth. He was much more powerful when he was the great and powerful Oz. Now he is just a short little bearded college professor and his answers don't seem nearly so impressive. Seeing the man behind the curtain is not an awe inspiring event.
Soon he will be just another discredited fool like John Law, Haverstein and Greenscam. Doom on the Bernanke. He is his own worst enemy.
The blogs are exposing Bernanke as the fool that he is, but the mainstream venues are still trying to make him look like a hero. MSM have already exposed themselves as frauds, nobody watches. Staged propaganda.
Deficits don't matter, Gold doesn't matter, Fed printing don't matter....
Just buy, buy, buy....right..?
[while dunking the Dude's head in the toilet]
Blond Treehorn Thug: Where's the money, Lebowski? Where's the fucking money, shithead?
The Dude: It's uh... uh... it's down there somewhere, let me take another look.