Video - Bernanke speech on the Fed's exit strategy
Who Needs QE2 - Watch An Overconfident Bernanke Talk About Shrinking The Fed's Balance Sheet
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Your Debt Lord speaks...
But to whom will he sell the exalted MBS...
Ben seeks to reassure those concerned that the Federal Reserve does indeed have an exit strategy for its massive asset purchases and ponzi-inflated balance sheet. The only 2 things the failed Chairman got wrong in this presentation were the the timing and the direction.
What he meant to say was that the recession would last a decade, unemployment would skyrocket and then would plateau instead of subsiding, that housing prices would fall an additional 30%, and that he the great Bernanke would in fact increase asset purchases not decrease them, let alone, god forbid, actually sell a pile of crap or two, and that he might even consider creating a brand new national debt monetization program with proceeds from the previous $1. 5 trillion mortgage backed securities debt monetization program, and that still nothing would work, but not to worry because the helicopter was not working right and as soon as he got it fixed, that all would be well.
These are must-sees:
Lord Bernanke spake, thus the sheeple listened and went shopping - part 1...
Lord Bernanke spake, thus the sheeple listened and went shopping - part 2...