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SEE3772 · 03-20-2013, 10:50 PM

When someone tells the Fed Chairman, Ben Bernanke CFA, Series 7 and 63, certified, that "the stock market has been hitting all time highs, it's recovered all of its losses from the financial crisis" and then proceeds to ask, even jokingly, during the Q&A of the most important monetary policy conference in the world, if he "still has time to get in," you know it has all become, quite literally, one big joke.

The joke gets even funnier when the abovementioned chief stock market strategist of the Fed responds: "we are not targeting asset prices", in direct refutation of his numerous prior statements which confirm the Fed is doing precisely this, and that he is not "measuring success in terms of the stock market" or that he does not see "anything that is out of line with historical patterns", then you know the joke's on you. Because this exchange, joke or not, is most comparable to this hypothetical one from 2007: "Mr Chairman, Bernie Madoff asset management is up 100% so far this year. Is there still time to get in?"

zerohedge

Ben Bernanke, Then And Now

Stone & McCarthy Research Associates: 12/31/2013 The Federal Reserve Will Start Losing Money (Negative Net Interest Margin)

Monetary Policy Alternatives At The Zero Bound: An Empirical Assessment (The Federal Reserve Playbook)

SEE3772 · 03-22-2013, 06:02 AM

So... no comment?
Ben admits the stock market is not at a real time high but at a nominal high...
Looks like the FED chairman is lying about the 2% inflation rate.
If the inflation rate is at 2% the stock market would not be at the current inflated levels.

Iaintliein · 03-22-2013, 08:37 AM

Quote:

Originally Posted by SEE3772

So... no comment?
Ben admits the stock market is not at a real time high but at a nominal high...
Looks like the FED chairman is lying about the 2% inflation rate.
If the inflation rate is at 2% the stock market would not be at the current inflated levels.

I'm not an economist, but, to my mind, printing money around the clock has to be inflationary. A big part of the price of the market simply reflects the lowered value of the dollar IMHO.

LovingKayla · 03-22-2013, 09:21 AM

I love most of the shit you post SEE, including this. I'd love to know exactly how they are artificially holding up the market with everything going on. Don't get me wrong, we are banking on this but it can't possibly last forever.

And of course he's lying. If I see someone on TV that is a given.

Texas Contrarian · 03-22-2013, 10:12 AM

Quote:

Originally Posted by SEE3772

So... no comment?

What do you expect?

Many of this forum's participants are completely ignorant of anything involving economics, finance, or markets. To members of the National Sandbox Ignorance Brigade, all that matters is party politics. Bad economic policy is outrageous when it's shoveled by the opposing party. But when their party crams it through, that's perfectly OK. Winning the "blame game" is all that counts.

To wit:

http://www.eccie.net/showthread.php?t=697565

See what I mean?

That's the sort of thread you get when you mix a toxic cocktail of intellectual vacuousness and bald-faced hypocricy.

If that sort of ignorance, cluelessness, and hypocricy were characteristic only of forums like this, it wouldn't be a big deal.

But it pervades the rhetoric and actions of the administration and congress, and that is why the most critical of our challenges are not being responsibly addressed.