They call him BUBBLE ben bernanke for a reason. Did you really think he was going to say something the markets didn't want to hear. This guy is just feeding the market what the market wants because if wallstreet doesn't get what it wants it cries like a little bitch. So BUBBLE ben bernanke bows down and keeps the money printing going and going and going. And guess what there is NO exit plan. Nothing like an inflated market created on the back of cheap easy money policies ....
King Bernanke
- Thread starter pikachu9
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Exactly, but this follows the same sort of bullshit we've seen over the past few years. They turn "hawkish" at a perceived target (or if oil prices get too hot), then within a few months they reverse course and go back into hyper inflate mode.
The f'd up thing is that people fall for it over and over again. It's nothing more than pure manipulation.
And just a week after a better than expected NFP number, mind.
He's gone wobbly because of the reaction to the tapering talk. Seems that what he will say has less to do with economics and policy, and more to do with what he wants from the markets.
One eye on his legacy perhaps, as in "everything was fine when I left".
I think this is the most angry I've ever seen you at both the Fed AND the Bearded Blunder.
I've never personally believed in the taper. It's all a bunch of bullshit. Ben can say that raising rates and scaling back QE are two different things, but he knows that's horseshit. Any tapering will scare the market into believing the end of the expansion of the Fed's balance sheet is underway (even if it technically is still expanding slower). God forbid they ever try to shrink the balance sheet, which will have the same effect as raising rates.
They're screwed, and so are we.
Quote from Tsing Tao:
I think this is the most angry I've ever seen you at both the Fed AND the Bearded Blunder.
I've never personally believed in the taper. It's all a bunch of bullshit. Ben can say that raising rates and scaling back QE are two different things, but he knows that's horseshit. Any tapering will scare the market into believing the end of the expansion of the Fed's balance sheet is underway (even if it technically is still expanding slower). God forbid they ever try to shrink the balance sheet, which will have the same effect as raising rates.
They're screwed, and so are we.
It's not the impact personally (relatively neutral delta), but the complete whorish nature of the clown. To say we gotta taper and then to pull the 180 due to the market reaction.
I understand, but why is this surprising? Bernanke has been a clown since day one, and pandered to the markets every time any hissy fit was thrown. The man is on record saying that one of the nice "side effects" of QE is that the markets go up from it.
We all know in which bed he sleeps, so his being a whore isn't anything new.
Think of the upside, though: The "Surf Report" thread will be much more entertaining.