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What It's All About
Decrypting the subtle nuances of Bernanke's speech this morning was hardly a surprise. The key is 'unemployment' and whether its structural or cyclical - we'll ease anyway (just in case). Debase first or most or lose... 86 mentions of 'unemployment', No mention of 'inflation', and no mention of 'oil-price-inspired-consumption-slump' or 'debase'. 'Structural' 16: 'Cyclical' 8
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Ass Monkey also came up 14 times...
But that might have been me saying it.
Hialrious! My laugh of the day, thanks!
DavidC
JPMHater001 FTW! :>D
Lindsey Williams right again!
http://www.youtube.com/watch?v=keffJctMMQE
Snot my fault!
It's about spooking the market to go up. L-eurO-L!
Look at all the idiots jumping on...as if ECB will not have to hit CTL+P
So -- next week does Ben tell everyone he's changed his mind and gold actually is a good idea now?
Will anyone have the balls to ask why now after four years of his monetary policy failures we still need more QE.
remember the saying about the man who has a hammer?
should also have bought nails?
no need if everything around you is atomatically a nail ;-)
So what are you saying? People should hit everybody arround them with a claw hammer?
It's a good way to make it into the evening news but for the rest....
...and this is exactly how Bernanke made it into the evening news. Nevermind that his magic hammer is called "The Printmaster 2000"
because it's for the children sir...
Must be incredibly successful or he wouldn't keep doing it. I think.
He's obviously expecting a different result!
INSANITY
print you fuckers print
Get your Silver and Gold, while they are still on sale. Buy physical and stop the paper scams!!!
I'm obviously a clueless moron. Someone please explain to me how yet more printing will lead to all these fabulous new jobs?
Please talk slow and don't use big words.
Lumberjacks?
All you need now is two fingers: Ctrl + P
So unless Ben gets carpal tunnel and needs a team of physical therapists - I don't see any new jobs being created.
You beat me to it!!!,,I like the part about the tunnel, but he must have an assistant..Right? Maybe just a continuous .bat file. OK you can go on vacation Ben everything has been automated...cheers and from now on keep your fucking mouth shut!!
Nice try,,, But our new and innovative masters of the printing press have gone binary, 110010110001001011010100 to my account please and bypass the poor fucking lumberjacks. muhahahahahahahahah!!! Jamie Dimon JPM Swinde division...
OK It was funny I'll give you a 1 up.
Don't forget that printing also helps the coke dealers & hookers...
A thousand points of light.
They'll have to replace all those machines you put your credit card into, so they can cope with more digits...
Here... I'll... explain... with... a.... video... http://www.youtube.com/watch?v=grbSQ6O6kbs - Note the guys both pushing and pulling carts.
Every time I hear Bernanke speak, I realize how dumb he is. He has no clue why companies hire. He cannot envision a scenario where we have potential negative growth? Does he not grasp the power of government policy? He wants to blame unemployment on lack of skiills?
The only reason businesses expand is to chase potential profits. He mentioned this how many times? Busunesses would train their own workers if the potential profit was there. He needs to be asking why it isn't.
Zero.
No! He's not dumb, he just has different motives than you or me. It's a mistake (huge) to think that he's dumb.
You are correct in that, just like Jon Corzine, Ben is one of the "best and the brightest". Why no one expects a military coup in a country that has been at war for the majority of the last 40 years is beyond me. Must be all those jobs vets are coming home to.
The elite still belive the military will stand behind them, just like BATS, this will be an epic fail. Unfortunately, just like Rome, it all will end with a slow decline or a wimper and not a bang. Hedge accordingly.
What, academic over reliance on research papers and this great macro economic theory vs that nobel prize winning theory is not the way to SUSTAINABLE growth.
Shocking.
The ONLY mandate the Fed is using is "wealth effect", which is based on some silly notion of trickle-down economic theory. Which has worked wonders since 1985 right?
Exactly.
Interestingly enough, Monster Worldwide has been tracking statistics on job postings and hiring for over a decade. Over the past two years, the people at Monster noticed something very curious-- job postings were actually growing at a pace of 5%-10%, but long-term unemployment continued to mount.
What Monster found was that many of the job postings weren't being filled. The jobs were there. But the skills required to meet the job requirements weren't.
To me, that screams structural unemployment.
Obviously, Uncle Ben is looking at a totally different set of academic research. You know, the ones that anchor his misguided theories.
All one needs to do is look at what types of jobs are being added-- and perhaps more importantly-- the jobs that are NOT being filled.
You come up with a completely different picture that the one Uncle Ben is trying to paint.
Is there a link to any type of report about this?
Once you realize he is only trying to save the banks and is being forced to support government spending, you will understand him better. When Greece defaulted and CDS paid out, before gold was allowed to rise to reliquify the system and back debt, that was the end of the system. The dominos are going to start crashing down. Gold will rise anyway, but it is now too late for them to benefit from it.
Happy Hunger Games!
luckely... most Americans have fat reserves to get through the next 10 years without eating so this movie is still science fiction...
Optimist!
It looks like Bernanke's dog ate his home work.
What self-respecting DOG would put up with Bernanke?
He's more likely to have a CAT!
Structural, hah, more like Foundational unemployment.
Prison + welfare + Government Pensions = US economy
It's all just a big cover to add more support to the banks...period.
Must be getting near Election time.......the Fed and White House have focused so much on Jobs on Wall Street Skydeck now for 4 years so I suppose they want to know how the poor Schmucks can be induced to jump through a few more hoops to keep the milking machines fully occupied. Bernanke's problem is he has never had to get his hands dirty in real jobs. Just a pity he shared his dorm at Harvard with Lloyd Blankfein - looks as if the tide washed them both inshore as it swept others out to sea
Well, I guess we know why Cheney just got his new heart (from a "donor") so he'll be in tip top shape to start construction of the Fiat Death Star.
Fick Dheney! He's Big Brother incarnate.
I guess we're to assume he had a heart to begin with. My first instinct was that they just replaced the oil pump that pushes the black shit through that bastard's veins...
I love the smell of semantics in the morning... Though in general, think Bernanke's words stink...
Come oooon Tyler, Bernanke may have mentioned 14 times 'structural' and 8 times 'cyclical' but the moron insists unemployment is cyclical and that more stimulus would do good to the economy. It is because of this BELIEF and what it implies (Ctrl+P) that people keep buying this market...
Was he still sleeping?
SAY HELLO TO MY LITTLE FRIEND, $4.00+ GAS!(edit)-$5.00+ GAS!
Buck Fernanke determined not to repeat the Great Depression. Then, the country was not destroyed.....he's going to make sure it is.
Four pre-65 quarters will get you six gallons of gas @ $3.93 per gallon (melt value).
Nice work Bernanke!
Just got another sack of pre-65 quarters yesterday...this might be the tipping point that causes my boat to sink though
Go to any gas station and see if they will take that deal. Not.
QE is a nice way of saying "looting spree".
QE steals wealth from everybody using US dollars. QE devalues the US dollar, draining a little wealth from you, me, everyone else. The more dollars and dollar-based assets yoiu have, the more wealth you lose.
Bernanke never mentions this aspect. Wall Street banks never mention this aspect when they receive hundreds of billions of dollars of newly printed money. The government never mentions this aspect when they receive $150 billion of newly printed money each month.
Bernanke's job is to loot America and give all that wealth to Wall Street banks and the government. They keep the economy down so they have more reasons to print money, but printing money is looting wealth from the people, plain and simple.
AND YES FOLKS IF GOLDMAN DIG DEEPER INTO THE EMPLOYEE'S EMAILS THEY WILL BE FINDING THAT AT LEAST 95% OF THE EMPLOYEES THERE WOULD HAVE REFEREED TO THEIR CLIENTS AS MUPPETS IMPLYING US UNEMPLOYMENT TO GET WORSE IN THE US IN THE DOUBLE DIGITS
Dual Mandate! = ctrl+P baby.
I am not an Economist so this may sound very naive but if there is inflation and input costs go up this affects the Companies profit. As most Companies are having trouble raising their prices to cover their input costs for their products. Which lowers their profits.
Companies with lower profits will in many cases cause employees to be fired or laid off to balance their bottom line. I do not understand how this would create more jobs. If anyone knows please enlighten me. Thanks.
Deflationary depression or inflationary depression. There is nothing the central banks can do to solve the situation created by an absurd monetary system... there are only "less bad" options that act merely to prolong the inevitable, which is the destruction of said system... it's been baked in right from the start. The thing is... they've known from the start that it's baked in... so there is likely a plan, no? I'm not expecting to like the plan.
So, all the suckers who shorted their gold?
Wait! Warren Buffet said that Gold is overrated! Warren? Beuller...ANYONE..?
Am I missing something? Or is Bernanke really signalling QE3 when gas is almost $4 per gallon nationally? We've known QE3 is "necessary" for a while now...Do we seriously think we'll get it Brent where it is at the moment?
Home Depot will need to sell extra wheelbarrows so their customers can carry around their Reichsmarks to buy Wonder bread.
Funny that a dopey Ph.D economist, completely does not understand human psyche.
Further he is creating policy perscriptions for 20% of the country that owns equities.
The rest of the country....not so much.
Funny, if people had confidence that their saving would yield risk free returns they would consume more. The notion that spending will lead to growth which will increase their savings is just dumb academic justification for stupid policy.
I also do not understand how printing of Money or keeping interest rates low how that will stop Jobs from going Overseas to lower paid workers.
I think we all know why there are no Jobs in America. All you have to look at are all of the new Jobs created in India, China, etc.
That is also why there is so much Money held by Corporations Overseas that is not being Taxed in America to help with the revenue needed by the Government thru Taxation here in the United States.
The only way to create more Jobs in the US is to penalize the Corporations who hire workers outside the US.
It's a race to the bottom, that's what it's all about.
lizzy we are all in equities..mut funds, insurance policies, pension funds one I think starts with cal something, gov pension funds..they all need to be pumped up by equity inflation..as there are fewer and fewer able to put earnings into savings and 401k's for retirement..BEN must inflate securities..invest accordingly. PM's should stage a big rally on this little zero hedge tidbit..congrats ZH.
water one does not need to penalize corps, just pass rational tariffs on the import of manufactured goods..one way I like is to start a 5 year plan (thanks mao) of increased tariffs from 10% in first year to 30% at end of 5 years..then get out of the way as jobs return to USA..not so good for the current lot of exporters who stole the jobs in the first place.
I understand that you people are looking for a new Fed Chairman.
I have practicing with the current fed chairman, and am now ready to take over.