Banksta Bernank takes ‘questions’ from the leashed hounds we call the free press 2:15pm EST

Update: 3:56pm EST: Oh did I say Gold was at 141522? It is now at $1529.40 SLV $48.10 Oil $113. USD down, down, down 73.30. Equities continuing to mainline from the punchbowl Bernanke is clearly not taking away. DOW up 101.15. The TBTF Bankstas are gonna ride the USD right into the ground if TPTB let them.

Update: 3:08pm EST: Foreign Presse France asking about the concerns many nations have about the results of the Fed actions on the sovereign currency..cough, cough, Now Ben spinning the Geithner STRONG DOLLAR TOTAL BS LINE.

Reagan and Clinton had strong dollar in my lifetime. No one else. Hey they had that super growth thing too didn’t they? Don’t try telling the Ivy League Economics Club that though.

Update: 3:06pm EST: An hour in and another nominal record for Goldilocks~ $1526.20. Yowsa. Ben has used the buzz words ‘transitory, moderate’ to describe inflation so many times I would have alcohol posinoning were I playing the drinking game.

Update: 11:08am AZ Time– GOLD at $1522.80, USD at 3 yr low as Ben takes stage.

ZeroHedge will be liveblogging in case ANYONE asks a REAL question.

I would ask:

Ben do you like the American Middle Class?

What purpose does the Middle Class serve in the American economy?

How has QE and ZIRP ‘helped’ or ‘harmed’ the Middle Class?

If the Middle Class is the largest % population in America, doesn’t your dual mandate for full employment/stable prices apply to this population cohort above all others?

Is it your intention to drive down wages for the Middle Class while allowing prices of food and energy to continue to spike year after year, all while claiming there is no inflation?

WHY ARE YOU KILLING THE MIDDLE CLASS?

PS- Why did the Federal Reserve bailout QADAFFI and leave the American Middle Class to twist in the wind?

Advertisements

April 27, 2011. Tags: , , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, journalism, Labor Department, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. 3 comments.

Update: Bernanke gets his Joe Cassano on…

Update: 4/17/11~ Question Asked, Question Answered~ (emphasis from original)

Stunningly, today we learn that to keep long rates low, the Fed may have resorted to nothing short of the same suicidal trade that destroyed AIG FP and brought the entire system to its knees. Namely, Ben Bernanke is now quite possibly the second coming of Joe Cassano, since in order to keep rates low, Bernanke is forced to a last resort action of selling billions upon billions of Treasury puts to “pin” rates low contrary to natural supply-demand mechanics…


(more…)

April 15, 2011. Tags: , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

President Clueless tells people if gas is too high, get a new car cuz it will take ‘years’ to ‘adjust’ prices aka ‘Let Them Eat Chevy Volts!’

Good Gawd. IOW Let them eat Volts!

Clearly he is pixxed and advisers are telling him no re-elct with $5 gas for you chump~and in his usual passive aggressive way, he is mad at US for being broke due to HIS asinine plan

And Barry doesn’t like when all his carefully dreamed up plans cause him aggravation.

Recall, he said in 07- ‘under my plan electricity rates will necessarily skyrocket’. Yeah electricity, heating oil, gasoline. And he hasn’t even gotten his cap and trade yet, imagine the future with another 4 years of this guy.

Mad Max anyone?

YahooNews and a better interpretation from ZeroHedge:

…”I’m just going to be honest with you. There’s not much we can do next week or two weeks from now,” the president told workers at a wind turbine plant (one operated by Spanish company Gamesa). “Gas prices? They’re going to still fluctuate until we can start making these broader changes, and that’s going to take a couple of years to have serious effect.

And we doubt Obama’s hard core union electorate will be happy at the following stab at Channel Stuffing Motors: “If you’re complaining about the price of gas and you’re only getting 8 miles a gallon, you know,” Obama said laughingly.You might want to think about a trade-in.“…

…As to the core question, we were surprised Bill Dudley was not present at Obama’s side explaining how deluded complainers should just have a chilled glass of unleaded 98 Octane with their main course of deflationary iPad 2....

April 6, 2011. Tags: , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Thar’s Goooold in them thar IRAs! New record $1462…

Benny and the Inkjets cant hold the precious down~and Sister Silver is right behind

And don’t forget WTI Crude ~  $109 baby…..demand destruction coming to a local economy near you!

(more…)

April 6, 2011. Tags: , , , , , , , , , , . Economy, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. Comments off.

Fed’s BS Core Inflation Data~ Ron Paul Hearing on Inflation LIVESTREAM

CSPAN linky here. Hearing has begun.

Finally. Yeah the ‘core’ number is total BS and Jim Grant, a witness, will testify to just that!

ZeroHedge has it:

..The much anticipated hearing on “The Relationship of Monetary Policy and Rising Prices” chaired by Ron Paul..

witness list consists of:

Inflation is the 500 lb bear in the room

March 17, 2011. Tags: , , , , , , , , , . Economy, FDIC, Finance, Labor Department, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Big Ben testifies before Paul Ryan and the House Budget Committee

CSPAN has the feed here

Just heard Ben tell Ryan there is LOW INFLATION here. Ryan is pressing him on the HEADLINE CPI not the BS Core #…

Ben says he is ‘unwavering in his determination to provide price stability’ Exc ept when it impacts STOCK PRICES negatively right Ben? frakker.

Judge N on FoxBiz just said he has Ron Paul on his show tonight talking about the SUBPOENA Paul is sending Ben to testify before his subcmte…

KARMA…

Inflation is coming and Benny and the Inkjets are willfully blind to it

 

February 9, 2011. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

Marc Faber 2/2/11 ~ CNBC Reporter, ‘You heard it here first, Bernanke is a Liar’

Courtesy of CNBC

See ZeroHedge for full video of Faber and Taleb at the Russia Conference this week as well~

money quote-

…”before they can’t pay they would print money like there is no tomorrow so the dollar would continuously depreciate which would obviously be good for assets that you can’t multiply such as commodities and precious metals.”

“I also think it they print money what then usually happens is that standards of living of the middle class and the working class go down, because the cost of living increases faster than wage gains, and so the population becomes very distraught and dissatisfied and eventually the government to stay in power or distract the attention of the people, either goes to war or blames a minority for the mishaps, but usually after a period of very heavy money printing war follows.”…

Commodities baby

Faber on Bloomber 1/25/11~

February 8, 2011. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

The Best of Rick Santelli

Thanks for telling it like it is Rick! Keep up the great work!!

Clips courtesy of CNBC, MRC, and CommonSenseCapitalism

February 6, 2011. Tags: , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Comments off.

Next Page »

%d bloggers like this: