Bernanke Is A Lying Criminal

That's a no-brainer. But this market, which of late doesn't give a fukk about what you and me think, seems to believe otherwise. Bernie might be a badass with the biggest as well as the longest nose, but I rather believe in his pinocchio BS than to get screwed by the market.

 

Instead of relying on "headlines" you'd be best served by reading over his testimony from today.

"The financial markets are still fragile, we don't want to take anything for granted, but we have come a long way since last fall."

“The most recent information on the labor market -- the number of new and continuing claims for unemployment insurance through late April -- suggests that we are likely to see further sizable job losses and increased unemployment in coming months,” Bernanke said today.

His remarks echo last week’s Fed statement that, while the outlook has “improved modestly” since March, the economy may “remain weak for a time.”

 

"The subprime is contained." is in there someplace too...

But frankly, what's the guy going to say - "The sh!t's going to hit the fan everybody! Duck!!"????

 

Look, this guy's been saying that since this whole fiasco erupted and I wouldn't be surprised if he were to spit out the same crap in the future testimonies. It works like a charm for him every time!

 

Talk is cheap.
Please post a screen-shot of your BEARISH positions. Thank You.

 

Already being done. Also the only way the Fed will run out of ammo is if their printers run out of ink or paper.

 

Then why was he cutting rates when SPX was above 1500 against what appeared to be inflationary pressure in commodities? Just for kicks?

All you had to do to gauge trader sentiment of future Fed actions was to look at back month Fed Fund futures. They were pricing in 150bp of cuts throughout the fall of 2007. I and many said the Fed will NEVER cut that dramatically. Yes they did......

 

He's a politician. What do expect? LOOK AT THE DATA. It's appears to be bottoming.

And the share market saw it 2 months ago.

 

You make the rather poor assumption that I am a registered Democrat or Republican.

As far as Bush is concerned, please name me ONE SINGLE APPOINTEE that was not incompetent or least case, mediocre . . . I can't name a single one.

Alberto Gonzales?
Condi "Mushroom Cloud" Rice?
Pat Wood, III?
Gayle Norton?
Christine Todd-Whitman? .
Don Rumsfeld?
Hank Paulson?
Ben Bernanke?
Christopher Cox?

 

I, on the other hand, don't understand why the Congress holds these stupid testimonies. It's not like they'll get any in-depth analysis, let alone god-fearing truth, into what the hell is going on:

"The subprime is NOT contained and we're more screwed than initially thought. But thanks to the stupidity of the generous tax payers, we're able to save our buddies on Wall Street," so sez Bernanke.