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smaulgld
2013 Jul 21, 9:57pm
BTW-this comment went largely unnoticed. google Ben's quote and you won't find any mainstream media coverage of it
smaulgld
2013 Jul 21, 10:47pm
Here is an ABC Australia story that covers the quote in the article but not in the headline
http://www.abc.net.au/news/2013-07-18/global-markets-buoyed-by-bernankes-stimulus-comments/4827224
Astonishing given the Fed chairman explicitly admitted the US economy is supported entirely by printing money
smaulgld
2013 Jul 22, 12:32am
The economy is weak and would crash without QE- sounds like something Peter schiff would say not ben bernanke!
Bubbabeefcake
2013 Jul 22, 12:43am
The economy is weak- Ben Bernanke
Terminally ill is more like it!
...And if he keeps printing consumer confidence is going to TANK!
smaulgld
2013 Jul 22, 1:08am
QE3 is already bigger than QE1 and 2 so a little taper for show would be meaningless.Ben is attached at the hip to the printing press
smaulgld
2013 Jul 22, 1:20am
IF he keeps printing the risk is the world loses confidence in the dollar but that is a lesser risk now than the economy cratering if he stops printing
smaulgld
2013 Jul 22, 1:36am
Google bernanke's quote and you will find no main stream media references to this astonishing admission
Bubbabeefcake
2013 Jul 22, 10:07am
IF he keeps printing the risk is the world loses confidence in the dollar but that is a lesser risk now than the economy cratering if he stops printing
So he'll keep printing even if there's a contraction?
Underlying economic reality remains much weaker than Fed projections. As actual economic conditions gain broader recognition, market sentiment should shift quickly towards no imminent end to QE3, and then to expansion of QE3. The markets and the Fed are stuck with underlying economic reality, and, eventually, they will have to recognize same. Business activity remains in continued and deepening trouble... - John Williams, Shadowstats.com
Fed can not exit from its quantitative easing (QE)
It's over , USA is Japan.
You want to profit from this , go learn about what Japan has done over the last 25 years .
They will never recover regardless of productivity and neither will anyone else using the same crap strategies.
smaulgld
2013 Jul 22, 10:23am
So he'll keep printing even if there's a contraction?
Yes The Fed car only goes in one direction-toward the cliff
smaulgld
2013 Jul 22, 10:25am
puhim
correct and now look at where Japan is-forced to quintuple their money printing-like pumping increasing jolts of adreneline into a corpse and getting excited when it moves
it's laughable if it wasn't actually all true!
I shake my head daily like every other economist.
The dissociation of the minds of the market makers and the real world is not delusional it's criminal.
It's more about message and manipulation than the real world.
The question they ask is : How long will they buy it?
A: As long as we shovel it.
It's safe to say that every market in the world is now criminally manipulated.
So he'll keep printing even if there's a contraction?
They will not stop by choice and not by the markets
Infact the so called market said "NO"
They are all addicted. It will not end.
smaulgld
2013 Jul 22, 10:46am
puhim markets SHOULD be about supply and demand but when the price is "set" on an exchange that allows naked short selling and when money is given to banks to get bad assets off their balance sheets so they can buy good ones for cheap-there is no market dynamic just favors and manipulation
It's now more than ever blatantly obvious that it is one rule for them and another for us.
I wish I could borrow $1M from the window for $2500 and not have to pay it back! ever!
SHOULD be about supply and demand
smaulgld
2013 Jul 23, 12:07am
We just have to remain exuberantly rational! http://smaulgld.com/exuberantly-rational/
smaulgld
2013 Jul 23, 8:57pm
Just prior to making the statements about the economy tanking, Bernanke also talked about gold. In this just released clip with Ron Paul they show Bernanke's muddled comments about not understanding gold.
Ron Paul: US Government Will Be Similar to Detroit, Gold Price Will Explode
http://youtu.be/mnaaH4sj3o8
smaulgld
2013 Jul 23, 11:30pm
I can note find the video or audio of Bernanke talking about weak economy and it tanking with higher rates. Any one have a link?
Without Bernanke, we would be in stone age right now !
More printing is needed.
Without Bernanke, we would be in stone age right now !
More printing is needed.
MOARRRRRR!
Bubbabeefcake
2013 Jul 24, 2:10am
Without Bernanke, we would be in stone age right now !
More printing is needed.
What Is A “Liquidity Trap†And Why Is Bernanke Caught In It?
smaulgld
2013 Jul 26, 6:32am
Bernanke has created a Frankenstein and can't put that large genie back in the bottle!
“I don’t think the Fed can get interest rates up very much, because the economy is weak, inflation rates are low, if we were to tighten policy, the economy would tank.†Ben Bernanke testifying at the House Financial Services Committee last week.
With those words Ben Bernanke confirmed what we have been saying for months on the Smaulgld blog-the Fed can not exit from its quantitative easing (QE) program because to do so would cause the economy to collapse (we never used the word “tankâ€).
http://smaulgld.com/bernanke-warns-of-tanking-the-economy/