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The Punchline In His Own Words: Bernanke Advocates Blowing Asset Bubbles As The Antidote To Depression
If there was one absolutely must see moment exposing everything that is broken with the Fed's brand new policy of QE-nfinity, it was this exchange between Reuters' Pedro da Costa and the Chairman. It explains, beyond a reasonable doubt, that the only goal the Fed now has is to reflate the stock market bubble to previously unseen levels, to focus on generating jobs although not for everyone but only for Wall Street, consequences be damned, because by the time the consequences arrive, and they will (just recall that subprime is contained) they will be some other Fed chairman's problem. Bernake's term mercifully runs out in January 2014.
From the official transcript:
QUESTION: My question is -- I want to go back to the transmission mechanism, because speaking to people on the sidelines of the Jackson Hole conference, that seemed to be the concern about the remarks that you made, is that they could clearly see the effect on rates and they could see the effect on the stock market, but they couldn't see how that had helped the economy.
So I think there's a fear that over time this has been a policy that's helping Wall Street, but not doing that much for Main Street. So could you describe in some detail, how does it really different -- differ from trickle-down economics, where you just pump money into the banks and hope that they lend?
BERNANKE: Well, we are -- this is a Main Street policy, because what we're about here is trying to get jobs going. We're trying to create more employment. We're trying to meet our maximum employment mandate, so that's the objective. Our tools involve -- I mean, the tools we have involve affecting financial asset prices, and that's -- those are the tools of monetary policy.
There are a number of different channels -- mortgage rates, I mentioned other interest rates, corporate bond rates, but also the prices of various assets, like, for example, the prices of homes. To the extent that home prices begin to rise, consumers will feel wealthier, they'll feel more -- more disposed to spend. If house prices are rising, people may be more willing to buy homes because they think that they'll, you know, make a better return on that purchase. So house prices is one vehicle.
Stock prices -- many people own stocks directly or indirectly. The issue here is whether or not improving asset prices generally will make people more willing to spend.
One of the main concerns that firms have is there's not enough demand. There are not enough people coming and demanding their products. And if people feel that their financial situation is better because their 401(k) looks better or for whatever reason -- their house is worth more -- they're more willing to go out and spend, and that's going to provide the demand that firms need in order to be willing to hire and to invest.
And there you have it.
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What a cock Bernanke is. Can't he be posted to the vacant Libyan ambassador vacancy?
Dealer Ben has made the crack head, AKA Mr. Market, happy again!
But the quest for that virgin high will never again be attained!
I 100% guaranteed QE3 to all my clients so they could get filthy rich too, or they could put a bullet in my head should I fail.
Thank the Creator I'm off the hook now.
Bernanke's Royal Mess!
http://www.youtube.com/watch?v=8DsSmMBWBdE
Quantitative Easing Explained
http://www.youtube.com/watch?v=PTUY16CkS-k&feature=fvwrel
This is my fucking Plan!
To have the Federal Reserve Corporation stuffed to its fucking rafters with mountains of stinking toxic waste fecal matter, that it destroys itself from within and blows itself up.
It's a very complicated plan. I've been working on this plan for a very long time.
Now just go along with it and shut the fuck up about it.
My close friends call me Bubbles, so Ben can blow me.
RON PAUL WILL BE ON BLOOMBERG IN 5 MIN: http://www.bloomberg.com/tv/
http://miami.cbslocal.com/2012/09/12/tsa-worker-charged-with-possession-of-child-porn/
http://www.drudgereport.com/
Fuck everything the Fed does is a mother fucking bubble. What else can they do? Its not like it’s a legitimate organization, it’s the fucking mafia with a printing press. McKinley was killed so these motherfuckers could print.
Cop Drags Woman, 77, From Car after ID Refusal
http://usnews.nbcnews.com/_news/2012/09/13/13842894-cop-drags-woman-77-from-car-after-id-refusal?lite
Is 77 km/h or mph? Is not so fast for drag race, no!?
Tony Blair Appointed Senior Advisor to JPMorgan Chase
Tony Blair Confronted At Leveson Inquiry
http://www.youtube.com/watch?v=hmKHUjYDqCI&feature=relmfu
Another sheep is awoken to life in a totalitarian police state.
Can't say she didn't have it coming.
Meanwhile, Fortunata has broken Gensler's ribs just in time to prevent the prevention of the next MFG PFG.
http://dealbook.nytimes.com/2012/09/10/with-gensler-in-hospital-agency-s...
As the PNAC document stated, you cannot make any big changes unless there's a BIG KABOOM somewhere.
I have ALWAYS felt that the Fed was going to act as the black hole and swallow all the SHIT up, and that, because it's actually NOT part of the US govt, it IS a big element of govt deniability.
We'll eventually get the part of our wish that asks for the Fed to go away. The thing is, however, that that which replaces it will wield the power of a drone (exempt from legal parameters, commandable by the Executive- don't like what they tell you to buy? suck on this you terrorist! back to work on those Volts, China has an order coming...).
I'm curious if this whole QE-nfinity thing has more to do more with China then anything else..
Where is Xi?
More like TINA.
Without QuEnfinity the ZIRP regime blows up quick like.
This way, they still have time to steal everything they don't control (before it blows up anyway).
since the congress will do absolutely nothing to address the situation: the bernank has no choice but to pull out the bazooka.
Bernanke as Marvin the Martain? Perfect!
"Where is the big kaboom? There's supposed to be a big kaboom! You are making me very, very angry!"
So far treasury bond prices aren't too happy with the Fed's renewed dollar debasement or the commodity bubble it's reinflating. Guess we'll see whether they've succeeded in creating an echo "kaboom" in the bond market...as yet another unintended consequence.
This is a bank bailout of almost $2T, $40B*12*4. Buy MBS securities, that are worthless on the open market at par from the banks and bails them out. The FED will in effect become the worlds largest slum lord. The debt to be transfered to the US citizen, at par! What an outrage.
The debt accumulated by The Federal Reserve Corporation doesn't belong to the American people.
It belongs to the share holders of the privately owned Federal Reserve Corporation.
Yes, and it would take just one MOU to transfer all that debt to the US Treasury, perhaps via one of Fanny/Freddy. Failing that, the US Congress could "get religion" and "abolish the Fed" as so many seem to want -- and in the runup to elections there might be incentives -- and with 100% certainy Congress will then create a bad bank run by the Treasury to liquidate those surrendered assets at mark-to-market.
There is no way around the conclusion that The Fed will one day off-load this toxic crap at par onto the unwary American public, all in the name of "accountability".
You're correct, however the depreciation of the "dollar" or Federal Reserve note is in fact a tax upon any holder of that debt. Thanks to the Federal government mandating the use of Federal Reserve notes for pretty much every transaction, the citizens are left holding the bag. So yes -- Its all Americans and people overseas holding dollars that end up feeling worse off.
Yep.
Their "liability," our problem.
Of course with the FED being the UST buyer of last resort, and largest hold of said UST's, it has a lot of sway over the Treasury and Congress to ensure that it gets what it wants.
Of course, we are all furious and preaching among our (converted) selves. But what I'd like to know is the hell is happening at the political level in the U.S.? Is Bernanke getting away with this completely? If so, I find this equally outrageous, as this means that the entire political system is corrupt -- which I actually suspect is the case...
OT not really..
Raul
paul. live on bloomberg ROCKING. , justperfect...
If i remember correctly , he was way sloooooooower in the debates. , i reckon he was druged , garanteed!!!
not politics i'm frenchi living in patagonia , don,t take sides but i like HIM.
1% of media minutes are not BS.
A truly elaborate punishment for a jew, indeed
Q: Why is the central banker's playbook only a single sheet of paper?
A: To save paper for printing money!
Hey, I resemble that remark.
.....
My name is Ben Bernanke and if you don't want to spend we'll try to coerce you into spending.
Kind of like a fat guy stuck on a deserted island is coerced to go on a diet.
"We will artificially inflate the price of an asset you have a loan against, so you will feel richer and spend money you do not actually have." Brilliant, can't go wrong.
"Au contraire" (get it Au, snigger) to merely further inflate the stock bubble.
Dr. Knukies thinks it's much more nefarious and dangerous than that...
Knuks thinks it's a complete and undercover surrender to targeting NOMINAL GDP.
Meaning to hell with the 2% implicit inflation target, the whole world is going to hell in a handbag, everybody knows it full well, nobody's that stupid, we're all caught in one hell of a Liquidity Trap(due to the Credibility Trap)so the default is to reflate in hopes that both nominal and real GDP accelerate since where we be the Immediate Risk is Deflation.
Just sayin' that's what they's believes and is consistent with such a policy undertaken just before an election......
Oh down the road when V picks up, it's gonna end really fucking bad.
Gonna make the '70's that Volcker dealt with look like kid's make believe Lego Land shit.
What MORE could go wrong?
Sooooo we're trapped?
Essentially.
The only way out is to simply let the De-leveraging process take it's full course. While everything being done's the opposite, trying to vainly prop up real and nominal economic activity, asset prices, anything and everything.
In the near term, it's deflation being the enemy (or else they'd not do what they're doing, a QED.)
But once for whatever reason, the Velocity of money rebounds it's gonna be Katie Bar The Door, all ya'll gonna wanna own are real assets.
But that ain't tomorrow... V must rebound before the Big RepricingTM
Yes, we're miserably, irrevocably, damnably and forever, trapped, fucked, sucking the 1%er's cock.... since all the high powered money once again flows in to insured depository institutions which will take tons of risk to produce exceedingly large bonus pools and campaign contributions while Playing Grand Theft Country, with Impunity.
Unfortunately, I think you're right.
Yup yup.
The only kicker is Euroland. And ChIndia. If things go absolutely ape-shit in the rest of the world then hot money might flow into the US as a flight to (relative) safety reinflating the banks and asset classes, meaning Ben could then withdraw QE.
I think QE3 this time is less a strategy and more a tactic, with a window of about 3 months to be effective. Ben is keeping a window of opportunity held open a little longer than he might have been able to without QE, and he's hoping it is just long enough to witness the total collapse of everything else in the universe.
In a race to the bottom, who arrives last is the winner.
I'm very confused! I must have a very low IQ because Ben's Plan appears to be to get home prices to rise so people will "FEEL" wealthier. But if home prices rise don't those who are buying need a larger deposit with saved money (not earning interest) If homes are more expensive won't you need a bigger loan to pay for them? Does this not punish the borrowers? I would have thought that lower home prices would mean less cash spent on renting from the bank and more available to spend on consumer goods.
I am confused as to why he would want to "Push on a string" because I know if all house prices rise, there is no advantage only larger debts to be repaid by the next owner of the debt. Higher stock prices mean nothing if you haven't sold them, perceived wealth does not exist until its realized in usable assets.
One thing for sure, Ben is following , to the exact letter, what he wrote about all the tools a Central Bank could use. Its His script and he is sticking by it. Pity it's Fiction and nothing to do with real economics. But its a good Theory that has failed over and over again throughout the History of Fiat money.
We and all we own belongs to the Bearded Bubble Blowing Retarded Narcissit who makes the "Greenspan Nightmare" seem like a childs dream.
When it blows up its going to spatter the entire World with a stench of burnt paper and broken dreams
Who could have thought that things are so bad that they would risk financial Armadagon to save a few lousy Banks for a while longer?
Time to build a deeper and wider Moat
Question for Tyler: when does the S&P start going down DESPITE QE (like the Nikkei did)?
From now. He's used his last bullet and and the wrong time. The market is going to realize he's maxed out in terms of assets he can buy and none of this puts any of the money were it needs to be, nor will it create jobs.
The market won't ever go down cause the Fed will just buy stocks/futures/options.
Hyperinflation here we come!
http://silverliberationarmy.blogspot.ca/
Maybe in some things.
But listen ... you hear that grinding, devouring, soul-stealing sound just around the corner? That is the death-spiral of massive global deflation.
Not much will endure once it is in the grip of deflation. Euroland is probably right on the event horizon. That entire complex could implode over night and not return to a civilized state for a generation. China -- who the hell really knows what is going on in China. Nobody is buying, so how long can they keep channel stuffing their way to 8% GDP growth? Not very long now.
Ben has seen the future, and it is a black pit of run-away collapse. He is going to re-flate like a mo'fo' now, damn the critics. If he has to mumble useless crap about jobs and Main Street, then fuck you he will. From where he's sitting, in a year or less everyone will be too busy scrambling to hold him or anyone else to account for what was said.
This whole episode is giving me the creeps. If Ben had wanted to telegraph to the world that our collective ass is grass, well he just did it.
By kicking the can this far they effectively ran out of road.
Both ECB and FED pulling out all stops can mean only one thing.
WE ARE TRULY FUCKED BEYOND REPAIR
People are getting their underwear in a 'twist' about something that doesn't matter very much. Monetary policy solves nothing: at this point easing is fatal, so is not easing. There is nowhere left to turn ...
As usual, watch petroleum prices. Monetary policy either has diminishing effects ... or unintended consequences. It's likely the crude prices won't rise much if at all. Which means the central banks have run out of bullets and there are no means to end bank/currency runs which will in turn accelerate.
That in turn means declining crude prices, shut in supply (permanently shut in supply) and shortages (permanent shortages).
THEN the shit will hit the fan.
It might be different this time. The tell will be an unexplained drop in crude prices with increasing stocks, as demand for anything and everything simply falls off a cliff.
I have long held that humans will greedily devour every last drop of crude oil at any price, and that the price will in response go through the roof over time. But what if people simply give up? What if deflation steals their livelihood and then every liquid asset they have, leaving them nothing?
There is a reason why they call deflation a death-spiral.
What, and deny US citizens the opportunity?
BLOW my gold asset bubble, bernanke!
And don't forget our silver and platinum bubbles!
These three pm's are my biggest "investment" after Treasuries. So keep it up Ben. You keep printing and I'll keep counting my metal gains.
Today was a VERY good day!
Wages matter you stupid fucking print-monkey.
When this shit began, Ben said the Fed balance sheet could safely expand up to 19 Trillion.
In what parallel universe?
What he meant was, to go beyond 19 Trillion, we need to improve on safety measures.
I must have missed that, can you post up a link of a number of that magnitude? I need that kind of nightmare fuel...
Ah but bonusii mean more.
Yeah big hole in 401k argument Benny; it can be as large as you like but it will return a pathetic amount with ZIRP or NIRP...
Yup, and worse: If people try to cash out of the ponzi it crashes it.
Luckily we have no demographic changes occurring that will lead to increased retiree cash outs.
I pity any mom and pop that decide to go all in up here. Really Ben?
Dr Benway you are correct Sir. There are NO Demographic changes Occuring.... None I can think of.... OH Fuck You nailed it. Hat tip and up point for the subtle humour.
He's obviously not taking relative return into account due to dollare buying power drops (ie. inflation). What a cocksucker.
Exactly. A renewed asset market bubble is the goal. It's not okay that stocks have more than doubled over 3.5 years, it's not enough. This was the most telling and honest interchange of true intentions.
I repeat my previous comment:
I love when Bernanke says he wants people to feel wealthier by raising stock and house prices so people spend more. What an idiot.
You're not actually wealthier in a sustainable way, we just want you to feel that way so you stupidly spend money you don't have once again.
He should pass out Brad and Angelina masks so we can wear them and feel pretty, too. We won't be, but damn, we'll feel that way and who cares about reality anyway.
Oh, they will spend more alright. They will spend more for gas, food, electricity, clothes etc.
The immutable laws of economics will not tolerate this bullshit much longer. There will be no mercy, no probation, no shortened sentences. It will be punishment with extreme prejudice and to the full extent of economic laws.
I just love how BenYankMe thinks he is a god and capable of suspending the laws of economics. We will see what tune he whistles when the laws of economics have kicked his teeth out and he drowns in his own blood.
Remember the SAT?
"LAWS are to ECONOMICS as CALCULATION is to POETRY."
I will spend some of the paper money i made today buying...
more land, animals, wine, water,scotch, stored fuel, cans.
I STARTED a year ago BUT I MIGHT STILL be stacking mermelaids in TEN YEARS .
pure Ponzi rationalizing
you think you have more than you really do, for some reason, and you spend
no savings, no downpayment on alleged QE stimulated new home purchases, increased unemployment directly attributable to QE and inflation = Tyler i think you are WRONG here and that the problems will come well before 2014 and hence be wholly on Bernankenstein's watch.
problem with the wealth effect.....real inflation is surging. people feel poorer when they go to the grocery store or when they fill up the tank. real wealth (or lack of) vs illusionary wealth.
I'm having a twittergumet with Brian Wesbury about this right now. He maintains it is within 1% of the government stated rate. I say no way! Much higher than that, and yes I feel poorer.
iPhone 5. End of argument.
exactly right. what's that crazy idea economists have? virtual price reduction, or something like that?
Yesterday we get a new iPhone that is faster for the same price. That virutal price reduction (you get "more" for the same money) offsets the more you have to pay for all other real assets.
You may be hungry, but at least Angry Birds runs more smoothly!
No question, this is the last desperate gasp, not buying them YEARS of time, this is to get them maybe to Nov thats all.
"the problems will come well before 2014 and hence be wholly on Bernankenstein's watch"
Well it couldn't happen to a nicer guy.
ehh...double post
China revolution while The Bernank keeps on pumping. Fiddling with himself while Rome burns?
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019918/ch...
I would not want to smell that finger!
Rubber gloves are key policy equipment
Marxism clearly works.
And now let's all stand and sing The Internationale.
http://m.youtube.com/watch?v=ZLB8e62BulU
Try the Norwegian version. United We Stand (together we sink):
http://www.youtube.com/watch?v=_0d_0WoWEx8
Dude, where ya been? Seekingalpha hasn't been the same without your unique brand of sarcasm.
I've been right here Paul Meth.
Where I can say Fucktard and such without the SA thought police deleting my comments.
So, fuck fuckety fuck here I am.
Fuckin free speech, it's deliciously good..
What an idiot. So spending creates jobs? I think it is the other way around.
Your not on the Planet BEN. on that Planet.. bad is good, up is down and all tools work exactly the opposite way they were intended. On that Planet you can push a string any time you feel like it
Fiction Moon orbits that Planet at an ever increasing rate (until it doesn't)
I've said it before many times in the years past that the Fed has pushed all its chips in on RE. Fannie, Freddie, all the mortgage lenders and brokers, REITs, builders, contractors, tax revenue, commercial properties...one stop shopping by throwing money at RE.
People are much more comfortable with stocks inflating and popping but housing, they don't like that.
Is there a 'Survivalist Mutual Fund'.
You know ... a mutual fund made up of gold, guns, PitchForks, Schthes, and seeds.
Yeah, I want that one.
You forgot the rope!
and schnitzels....
We all know it's the bankers he's blowing.
His management of perception economics talk at the end worried me much more:
sentences like "..by then we will have created a reserve in credibility"
Ha!
That was right when I tuned into the webcast...I couldn't believe it.
Although I thought he said mainstream policy...which I guess it is anyway.
At least he also admited -later on- that there are some areas of the economy outside the Fed's sphere of influence.
Ok, this prediction and related previous ( last sentence to be taken into account about timing shift 1-2 days) based on logperiodic oscillations along rising price were..spot on:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=2440#p39478No kidding.
I wanted to understand that. I failed.
No Kidding.
Puffer Fish? I wish...<>
This maddness will end like a "tripple "d" Muslim cartoon"...
Puffer Fish, fry it up whole Ben.
well done!
Fuck you, Bernanke.
Simply unbelievable. The only question is whether he really believes his own bullshit. I say no -- it's just cover for enriching the banking sector. Ben is a smart man whether you love him or hate him, and these are the words of a terribly stupid man.
I don't think he believes all the bs that he spews either, but I don't think he is all that smart. Let's not forget some of his predictions and assessments of the past.
http://www.youtube.com/watch?v=INmqvibv4UU
Blowjobs help my depression too.
This is the single biggest policy mistake in human history and assures complete and total economic destruction.
Even bigger than moving off the gold standard? Or creating the Fed to begin with? Tough choices.
They system is spinning out of control, coming a part at the seams, and those supposedly in charge are running around, flailing their arms wildly, screaming with their hair on fire.
We are a society run by criminals, incompetent criminals at that, and based on fake news, fake money, and a fake reality.
A society this completely fucked up, from top to bottom, has ZERO chance of survival. There are cultures and societies out there that are watching us like wolves and we are sick, three legged, semi retarded, blind deer. They are going to eat us for lunch and use our own dinner ware, our own kitchen and our own seasonings to cook us.
In short: WE ARE FUCKED.
Plan accordingly.
+1 A nice summary. Jim Willie CB has it right as always, ZIRP forever, QE forever, the pail's bottom has rusted out, but by golly Billfold Ben will keep filling it with a fire hose. Meantime, the natives are getting restless over in ASIA.
That's an insult to retarded three-legged deer.
Hey Zap Powerz, are you my brother?
Yes, but with more Powerz.
Most if not all politicians own stocks (both very directly and very indirectly) and so Bernanke has ensured no politician will want to end (at the very least audit) the fed and any action against them will just be a show for the peasants on foodstamps.
Any outrage about QE from the republicism's? the democrapcy?
I want to hear that Catholic/Randian VP's reaction - I really do. STIR THE FUCKING POT!
Interesting. But I don't think this is a significant factor remembering that right after the Paulson "total collapse & riots" congressional briefing a bunch of Congressmen put sell orders in to their brokers. They plan on getting an early warning this time too.
Err.. well you guys wanted Gold to the moon, now that you've got it, you're still moaning and whining. There's no pleasing you lot!!!
Every hard asset but silver has hit and surpassed their highs at some point recently. Why is that the oddball out?
Maybe its a shitty investment?
Maybe there is a shortage of Silver and there isint enough available for trading to new highs?
Maybe its not hard enough to be a hard asset?
Maybe you bought at too high and cant break even?
Maybe rest of the world doesnt really give a shit about Silver?
Maybe its the oddball out?
WTF do I know. Im not a politician or a banker?!
Maybe you need to just watch more football, drink more beer and check your fantasy football league team. You know, the really important stuff.
I think there's a new judge on American Idol or something. I hear she has big tits and a bouncy ass.
Gold hasn't gone to the moon yet. Neither has silver. Not yet.
IMO It's not so much whining, as much as it is bemoaning the terrible net impact upon humanity wrought by the Fed and it's printing.
Unless you're unemployed.
How does one have a 401k when inflation consumes an entire paycheck? HMMMMMM?
How does one buy a house or maintain a house when inflation consumes an entire paycheck? HMMMMM?
Ben is the best looking retard I have EVER seen.
"jews" are economic and social terrorists.
Yeah.. how convenient! Blame it on the juice!
Next you'll say Ben Bernanke is a juice.
Follow their trail: from russia, to poland and germany, to the ussa.
The world's misfortune.
The Poisonous Mushroom.
They have used the same mo everywhere they have been allowed to fester.
Hitler was right, after all.
The overwhelming majority of Jewish people are ordinary law abiding citizens that abide by the same principles as the rest of us. What you may be referring to is a small hardcore section of Jewry that constantly recreate the fear of another holocaust amongst their people so as to justify constant agression, constant interference and constant profit at all costs.
Follow their trail: from russia, to poland and germany, to the ussa.
The world's misfortune.
The Poisonous Mushroom.
They have used the same mo everywhere they have been allowed to fester.
Hitler was right, after all.
Your 401k and your house has no value when measure in a debt based fiat system. It's just an illusion of value that can be wiped away in the blink of an eye.
No doubt, 401K's and pensions and assets are only just a promise to be paid back in fiat currency which today we see means nothing.
I disagree.
In the right hands, employed at the right time, everything has some value.
CNBC has a big link up to 401(k) reform. Just a matter of time...
Ben is a Ponzi, Keynesian, bearded fuck-face.....oh, and wrong too.
And Pedro, pumping the banks full of free money and hoping they'll lend aint' "Trickle-Down", you ball sniffing, media shill.
Yeah. He also talked about the "other" tools in his box about "fixing" our unemployment problem. I'm guessing he was talking about the hammer and sickle tools in his old Soviet chest. Everybody had a job in that shit hole. Maybe he wants congress to save his clownbucks on all the welfare payments and put the American slobs to work washing and detailing his Rolls Royce for thier clown coupons. Fuck that. I bought gold so I wouldn't have to be a Soviet Style sucker.
"consumers will feel ... more disposed to spend."
You expect me to believe the broke-ass consumer is currently disposed to saving, Benny?
how many more US ambassadors will die due to CTRL-P? errrr, i mean a u-boob video.
"I have come here to blow financial bubbles and to kick ass, and I'm all out of ass"
--Benjamin Shalom Bernanke
After inflation wipes out what is left of the small business sector and main street looks like a old abandoned mine, demand for I-pads will soar forever!
Buy the bicycle for transportation. Soon, our transportation system will remind people of Asia in the 1970s.
"Stock prices -- many people own stocks directly or indirectly. The issue here is whether or not improving asset prices generally will make people more willing to spend."
More willing to spend??? What fucking planet are you on Ben? Most people are willing to spend. The problem is they can't. Good GOD you fucking idiot.
I want what he is smoking, some strong shit!
'I think therefore I am' - Ben Bernanke
'I toke therefore I am' - Ben Bernanke
Ben can toke all he wants. But isn't there some involuntary commitment petition we can sign to get this deranged egghead taken off the streets?
Oh, and where's the acronym? Draghi has OMT (Outright Moonbat Transactions), but QE3 sounds like just another beached ocean liner.
http://www.classicliners.net/QUEEN_ELIZABETH_2.html
Print You phuc ... rs.
Wow. $125B per Month.
Title is wrong.
S/B Blowing Bubbles is the Solution to Blown Bubbles.
Fits right in with more debt solves debt.
This moron gets paid? My fukking cat is smarter.
Too bad Bernanke can't read this, as he is currently frothing at the mouth as today's stock price rise prompts a Pavlovian reaction and serotonin floods his brain. "Price go up, chairman good" he continuously mutters to himself as he is rubs his cheek on the soft carpet of his fed office.
The obvious logical fallacy here is that he is doing something because he can and it is the only option left to him, without acknowledging the other option of doing nothing. That option is discarded because of a bad job market. Yet, he assumes rising prices are good for the jobs market, he is well aware that the retail investor has been exiting stocks en masse and further price increases would benefit them minutely and he is well aware of the excess reserves help by the banks at the fed which show that the lack of lending is not due to inability but is rather is done by choice. This policy is transparently aimed at helping banks and he is doing it anyways....
on second thought why are we surprised?
"Member go up, chairman good" Ben continuously mutters to himself as he rubs his ass cheeks on the rough concrete floor of his zoo cage.
The other monkeys jeer and hurl feces at him.
This is only a last gasp head fake.
Why didn't he wait until 9:10 am on OPEX Friday to make this announcement?
cuz he's a cunt.
The President said things are getting better so why is Ben printing?
If last month's positive jobs report is to believed then why is Ben printing?
If basically extending the current QE program another year how is it going to improve the current trend? Just like the stupid logic that extending the tax cuts is a cut when it isn't.
How can anyone not see this as a blatent political ploy to keep this shitty economy afloat for two more months?
Ben is not stupid but he is nothing but a puppet. Since this won't really do anything to help Obama (and might hurt him because it looks so blatantly political and besides it wont stimulate the economy in the next 4 weeks), maybe this is nothing more than cover for the financial elite to loot as much as they can before the sytem implodes. I gotta beleive that Wall Street is dreaming of a very green X-Mas.
How long do you think the QE bounce will last?
motherfucker
http://youtu.be/2c3Y2i-1mD0
Time to Go to School Son, $ 3 Trillion is cheap for an election, its in the bag, now.
Someday, when you Fellas grow up, you are going to figure out how utterly Elitist your world viewpoint has become.
Rich countries' "asset bubbles" are poor countries' explosive growth and chance to catch up.
The developed world had its Industrial Revolution almost two centuries ago.
It is high time to allow the Rest of Humanity to have theirs.
And it is not going to happen without higher inflation here, so there can be lower inflation there.
Dollah! Dollah! Dollah! NEEDS to be dethroned as King, Emperor, Pope, and Larry Kudlow's Pet Poodle.
Empires are bad per se. Even in Market terms.
You can choke on your fake social justice and die.
So when current rich countries are poor and current poor countries are rich will that make you feel better? Does that satisfy your need for social justice?
Real social justice can only occur when there is no market or social manipulation.
Eloquent, toots. I like your style.
"higher inflation here, so there can be lower inflation there."
I think you are slightly confused...
Someday? Boyz are silly over Girlz. (complaints can be lodged@ yen cross) P.S. I gave you a greeny!