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LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!

 
Luisport

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02/27/2013 09:50 AM

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LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Business Insider‏@businessinsider

LIVE: Ben Bernanke Testifies Before The House [link to read.bi]

Last Edited by Luisport on 02/27/2013 11:10 AM
Luisport (OP)

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02/27/2013 10:04 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke Testimony Day Two Webcast - This Time Before The House Committee [link to www.zerohedge.com] …
Luisport (OP)

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Business Insider‏@businessinsider

Ben Bernanke Blew Two Big Holes In The Sequester Debate [link to read.bi]
Luisport (OP)

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02/27/2013 10:18 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Bloomberg News‏@BloombergNews

WATCH LIVE: Fed Chairman Ben Bernanke testifies on the economy before House committee | [link to bloom.bg]
Luisport (OP)

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02/27/2013 10:24 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke:"transitory" - chug
Luisport (OP)

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02/27/2013 10:41 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke: "predicting the future is always dangerous"... especially when the Fed does it
Luisport (OP)

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02/27/2013 10:42 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke has belts... suspenders [link to www.zerohedge.com] …
Luisport (OP)

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02/27/2013 10:44 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Waters: I am unhappy with you when you bailout banks, but I love you when you fund the US deficit
Luisport (OP)

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02/27/2013 10:51 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke praising the low rates his latest credit bubble has created, saying it benefits main street
Anonymous Coward
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02/27/2013 10:51 AM
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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
what the summary
Luisport (OP)

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02/27/2013 11:00 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke 2005: "A house price decline is a very unlikely possibility. Never happened on a nationwide basis" [link to www.youtube.com] …
Luisport (OP)

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02/27/2013 11:09 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

The NY Fed just injected $5.016 billion of wealth effect into the S&P [link to www.newyorkfed.org] …
Anonymous Coward
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02/27/2013 11:11 AM
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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
I think 0 wants to inject him.
Luisport (OP)

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02/27/2013 11:12 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
I think 0 wants to inject him.
 Quoting: Anonymous Coward 35264555


tounge
Luisport (OP)

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02/27/2013 11:17 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke Cites ‘Paradox’ of Needing Low Rates to Get Higher Ones. Need the San Fran Fed to write a paper on thisbanana2
Luisport (OP)

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02/27/2013 11:29 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke in response to saver slaughter: "the stock market has doubled"
Luisport (OP)

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Maybe Bernanke will answer why foreign bank hold more than half of all excess reserves created by the Fed
Luisport (OP)

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02/27/2013 11:43 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Just in case you’re not freaked out enough by political dysfunction, take a gander at this little gem cooked up by R’s on the Hill to avoid—well, not avoid, but rejigger—the sequester.


Under the Republican plan, Obama would be required to offer a sequester alternative by March 8. Congress would have until March 22 to pass a resolution of disapproval, which would done by a simple majority vote.

If that resolution is signed by the president, the original sequestration order would be restored. But the process is subject to a veto, requiring two-thirds to prevail and overrule whatever plan the president comes up with.

The President’s proposal must have the same level of cuts as the sequester, and no more than half can come from defense (in the actual sequester, half the cuts are from defense).

So, lemme get this straight. President Obama gets to own the sequester by himself, unless a majority in the Congress doesn’t like what he comes up with. In that case, they can formally disapprove.

If he then agrees that he doesn’t like his plan either—even though he just came up with it—then we default back to the original sequester. But if he does still like it, he gets to implement it unless two-thirds of the Congress doesn’t like it either. In which case…you guessed it…back to the original.

You can’t make this stuff up, folks.

I was on the Rachel Maddow Show tonight and I found Rachel’s intro to be an extremely effective critique of not just the horrible economics of the sequester (and check out that amazing legislator from Alaska!), but the opportunity costs of dickering around with madness like the above when we’ve got real problems to deal with.

I get that they’re not going to do anything useful. I’m starting to get that neither will they take the Hippocratic oath to at least do no harm. But how they can come up with ideas like the above with a straight face is still beyond me.


Read more: [link to jaredbernsteinblog.com]
Luisport (OP)

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02/27/2013 11:46 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bank Deposits Decline Across Europe In January [link to www.zerohedge.com] …
Luisport (OP)

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02/27/2013 11:56 AM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke: "our tools now are better" ... cue suspenders

4 min zerohedge‏@zerohedge

Bernanke hopes Congress realizes interest rates will eventually rise... which is why the Fed is allowed to monetize the deficit now.
Luisport (OP)

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02/27/2013 12:41 PM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke says it may take until 2016 before unemployment falls to 6%. At which point the Fed will own 50%+ of all ten year bond equivalents
Luisport (OP)

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02/27/2013 12:44 PM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
zerohedge‏@zerohedge

Bernanke Says ‘Still Good Bit of Slack’ in U.S. Economy. Which almost explains the rising labor costs.
Anonymous Coward
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02/27/2013 12:53 PM
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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Just in case you’re not freaked out enough by political dysfunction, take a gander at this little gem cooked up by R’s on the Hill to avoid—well, not avoid, but rejigger—the sequester.


Under the Republican plan, Obama would be required to offer a sequester alternative by March 8. Congress would have until March 22 to pass a resolution of disapproval, which would done by a simple majority vote.

If that resolution is signed by the president, the original sequestration order would be restored. But the process is subject to a veto, requiring two-thirds to prevail and overrule whatever plan the president comes up with.

The President’s proposal must have the same level of cuts as the sequester, and no more than half can come from defense (in the actual sequester, half the cuts are from defense).

So, lemme get this straight. President Obama gets to own the sequester by himself, unless a majority in the Congress doesn’t like what he comes up with. In that case, they can formally disapprove.

If he then agrees that he doesn’t like his plan either—even though he just came up with it—then we default back to the original sequester. But if he does still like it, he gets to implement it unless two-thirds of the Congress doesn’t like it either. In which case…you guessed it…back to the original.

You can’t make this stuff up, folks.

I was on the Rachel Maddow Show tonight and I found Rachel’s intro to be an extremely effective critique of not just the horrible economics of the sequester (and check out that amazing legislator from Alaska!), but the opportunity costs of dickering around with madness like the above when we’ve got real problems to deal with.

I get that they’re not going to do anything useful. I’m starting to get that neither will they take the Hippocratic oath to at least do no harm. But how they can come up with ideas like the above with a straight face is still beyond me.


Read more: [link to jaredbernsteinblog.com]
 Quoting: Luisport


So, no sequester on March 1st.?

hiding
Renegade (Me too)

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02/27/2013 01:24 PM

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Re: LIVE: Ben Bernanke Testifies Before The House!!! The NY Fed just injected $5.016 billion of wealth effect into the S&P!!!
Just in case you’re not freaked out enough by political dysfunction, take a gander at this little gem cooked up by R’s on the Hill to avoid—well, not avoid, but rejigger—the sequester.


Under the Republican plan, Obama would be required to offer a sequester alternative by March 8. Congress would have until March 22 to pass a resolution of disapproval, which would done by a simple majority vote.

If that resolution is signed by the president, the original sequestration order would be restored. But the process is subject to a veto, requiring two-thirds to prevail and overrule whatever plan the president comes up with.

The President’s proposal must have the same level of cuts as the sequester, and no more than half can come from defense (in the actual sequester, half the cuts are from defense).

So, lemme get this straight. President Obama gets to own the sequester by himself, unless a majority in the Congress doesn’t like what he comes up with. In that case, they can formally disapprove.

If he then agrees that he doesn’t like his plan either—even though he just came up with it—then we default back to the original sequester. But if he does still like it, he gets to implement it unless two-thirds of the Congress doesn’t like it either. In which case…you guessed it…back to the original.

You can’t make this stuff up, folks.

I was on the Rachel Maddow Show tonight and I found Rachel’s intro to be an extremely effective critique of not just the horrible economics of the sequester (and check out that amazing legislator from Alaska!), but the opportunity costs of dickering around with madness like the above when we’ve got real problems to deal with.

I get that they’re not going to do anything useful. I’m starting to get that neither will they take the Hippocratic oath to at least do no harm. But how they can come up with ideas like the above with a straight face is still beyond me.


Read more: [link to jaredbernsteinblog.com]
 Quoting: Luisport


What a mess.
Who is John Galt?

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