It doesn't get any crazier....

[iamwhatiseem]

There is no price to pay for central banks and major finance companies. The system is not allowing losers - thus there are no winners. Only a continuance of the mad-mad propping up of a long failed system. Every week the government takes money from your earnings and makes it the earnings of the central finance corporations in the form of asset purchases and free loans.
This has got to stop.

Bernanke Defends Asset Buying as Benefits Outweigh Risks - Bloomberg

 

[emptystep]

The most definitive statement Bernanke made in an answer to some of Corker's questions: (9 sec)
Response - C-SPAN Video Library

The whole Corker time: (7 min) (Corker is a moron. This is what the Democrats have to deal with? No wonder there is gridlock. Get rid of these idiots and we might get somewhere.)
Corker - C-SPAN Video Library

That Bloomberg gives a terrible representation of the hearing. It quotes Corker a couple times like he knows what he is talking about. It also uses Warren's questioning like they are disagreeing. They are actually agreeing and Warren was making a point that the issue needs to be addressed although it is a legislative issue not a monetary one as far as who has the power to fix it.

A little background about everyone's friend, Corker,
Bob Corker - Wikipedia, the free encyclopedia

In 2003, Osborne Enterprises, an affiliate of the real estate company Corker Group, sold protected wetlands near South Chickamauga Creek in Chattanooga to Wal-Mart for $4.6 million.[83] In July 2003 environmental educator Sandy Kurtz filed a restraining order to stop the construction of the Wal-Mart. After briefly being upheld, the lawsuit was dismissed on July 15, 2003. The Wal-Mart opened in May 2004.

On September 9, 2006, The Commercial Appeal reported that official records from both Corker's 2001 to 2005 service as mayor and his 1996 service as state finance commissioner are missing.[87] The missing records include letters written and received by Corker during a six-month period in 1996 and e-mails written and received by Corker in his official capacity as mayor between 2001 and 2005.

Shortly after taking office as mayor, Corker voluntarily placed his Hamilton County real estate holdings and businesses into a blind trust to avoid "even the perception of any conflict". Corker stated that the visibility of his properties and public knowledge of his ownership in them served as another check on his actions as mayor.[89]

On October 11, 2006, The Commercial Appeal reported that the blind trust that Corker set up to run his businesses to avoid conflicts of interest while he was mayor "may not have been all that blind".

 

[waltky]

Yea, is `bout time for the stock market to tank again...

... so's the SEC can go home with ever'body's money.

 

[emptystep]

Yea, is `bout time for the stock market to tank again...

... so's the SEC can go home with ever'body's money.

I don't know. Absolutely no reaction to the sequester. It trended down during the whole Bernanke testimony and then the minute it ended market headed up for the rest of the day and you can see what it is doing today. Completely illogical.(I guess someone has confidence in our government to pull it off.) Although there has been nothing but strong data all week. Except for that Marissa person over at Yahoo.

President and party leaders meeting Friday. Don't think they will let C-SPAN in unfortunately.

 

[waltky]

Fed gonna go insolvent?...

The Fed Is Starting To Prepare For A Future PR Nightmare
Mon, Mar 4, 2013 - Everyone wants the Federal Reserve to say how it will unwind the $3 trillion balance sheet amassed from years of quantitative easing.

Indeed, this was something of a hot topic in Fed Chairman Ben Bernanke's testimony before Congress last week. One of the big issues the central bank faces is the inevitable loss it will have to take when interest rates rise and the value of the Fed's bond portfolio declines. Although not an economic problem — as "losses" for a central bank are more of an accounting issue — there could be a PR problem when the Fed stops making payments to the Treasury from the interest income it receives on its bond portfolio.

Deutsche Bank strategist Stephen Abrahams recently explained why this could be such a nightmare: The possibility of suspending remittances and carrying unrealized losses could complicate the Fed’s relationships with the rest of Washington and the public. While remittances help the federal government pay down debt, any shortfall in operating income leading to a suspension of remittances would require the Fed to borrow from Treasury.

And while unrealized losses have no effect on Fed operations because of the way government accounts for them, they would leave a private company technically insolvent. It is unclear how Washington and the public might react to these circumstances and whether the Fed’s independence might be challenged.

The Fed appears already to be preparing for this problem. Below is the explanation Bernanke provided in his Congressional testimony: Another aspect of the Federal Reserve's policies that has been discussed is their implications for the federal budget. The Federal Reserve earns substantial interest on the assets it holds in its portfolio, and, other than the amount needed to fund our cost of operations, all net income is remitted to the Treasury. With the expansion of the Federal Reserve's balance sheet, yearly remittances have roughly tripled in recent years, with payments to the Treasury totaling approximately $290 billion between 2009 and 2012.

The Fed Is Starting To Prepare For A Future PR Nightmare - Yahoo! Finance

 

[Jos]

 

[blackcherry]

There is no price to pay for central banks and major finance companies. The system is not allowing losers - thus there are no winners. Only a continuance of the mad-mad propping up of a long failed system. Every week the government takes money from your earnings and makes it the earnings of the central finance corporations in the form of asset purchases and free loans.
This has got to stop.

Bernanke Defends Asset Buying as Benefits Outweigh Risks - Bloomberg

And what do you suggest as another way to delay America's bankruptcy being formalised ?

 

[jwoodie]

The stock market will hold up as long as it remains a "safe haven" when compared with riskier foreign investments and low interest securities. If/when that changes, look out!

 

[iamwhatiseem]

The stock market will hold up as long as it remains a "safe haven" when compared with riskier foreign investments and low interest securities. If/when that changes, look out!

Well it is obviously going to change.
Mark my words - history writers in the future will write about this decade as the decade of government corruption via the FED, SEC and the entire Wall Street apparatus.

I have absolutely no doubt we are headed for a depression-like fall. It is inevitable.
The markets are over sold and over valued like never before.
But, like I said in the OP - no one is losing due to the FED propping the system up, so the markets just keep buying because if they fail - they get bailed out.

 

[Paulie]

The stock market will hold up as long as it remains a "safe haven" when compared with riskier foreign investments and low interest securities. If/when that changes, look out!

Well it is obviously going to change.
Mark my words - history writers in the future will write about this decade as the decade of government corruption via the FED, SEC and the entire Wall Street apparatus.

I have absolutely no doubt we are headed for a depression-like fall. It is inevitable.
The markets are over sold and over valued like never before.
But, like I said in the OP - no one is losing due to the FED propping the system up, so the markets just keep buying because if they fail - they get bailed out.

The markets are over sold? You mean overbought, right?

 

[editec]

There is no price to pay for central banks and major finance companies. The system is not allowing losers - thus there are no winners. Only a continuance of the mad-mad propping up of a long failed system. Every week the government takes money from your earnings and makes it the earnings of the central finance corporations in the form of asset purchases and free loans.
This has got to stop.

Bernanke Defends Asset Buying as Benefits Outweigh Risks - Bloomberg

You are absolutely right.

Socialism for the BANKSTERS, predatory capitalism for the rest of us.

 

[iamwhatiseem]

The stock market will hold up as long as it remains a "safe haven" when compared with riskier foreign investments and low interest securities. If/when that changes, look out!

Well it is obviously going to change.
Mark my words - history writers in the future will write about this decade as the decade of government corruption via the FED, SEC and the entire Wall Street apparatus.

I have absolutely no doubt we are headed for a depression-like fall. It is inevitable.
The markets are over sold and over valued like never before.
But, like I said in the OP - no one is losing due to the FED propping the system up, so the markets just keep buying because if they fail - they get bailed out.

The markets are over sold? You mean overbought, right?

Well...yeah...I wasn't talking in market terms, moreso in terms of commerce - for something to be over bought - it has to be sold first.
At any rate - I am going to be so pissed when it collapses in the next year or so. All so these oligarchs can make a fortune - we will all suffer.

 

[Avorysuds]

You nailed it. As long as Obama and the FED keeps pumping money into the markets the bubble will build. At some point it will pop and it might be worse than 2008, sad seeing we never even recovered from the 2008 crash.

Many Progressives and liberal people were happy to see the markets going up, now we are seeing concern. As people start to realize it was all fake, it was simply another fake bubble just like the housing bubble only worse because THERE IS NO PHYSICAL TANGIBLE PRODUCTS being produced with this debt.

This is all thanks to Obama starting off his first term with some of the worst Presidential policies in world history. Starting off with the ridiculous Stimulus, then following through with Bush's bail-outs and then followed by and massive deficit building entitlement (Obamacare ACA.) Not even getting into expanding old wars and starting new wars.


The woorld is already turning on Obama and Progressive policies on never ending debt.

 

[Paulie]

Well it is obviously going to change.
Mark my words - history writers in the future will write about this decade as the decade of government corruption via the FED, SEC and the entire Wall Street apparatus.

I have absolutely no doubt we are headed for a depression-like fall. It is inevitable.
The markets are over sold and over valued like never before.
But, like I said in the OP - no one is losing due to the FED propping the system up, so the markets just keep buying because if they fail - they get bailed out.

The markets are over sold? You mean overbought, right?

Well...yeah...I wasn't talking in market terms, moreso in terms of commerce - for something to be over bought - it has to be sold first.
At any rate - I am going to be so pissed when it collapses in the next year or so. All so these oligarchs can make a fortune - we will all suffer.

It was supposed to be 'the next year or so' now for like 20 years.

We've probably got more time than you think. I'm hoping so anyway.

 

[Avorysuds]

There is no price to pay for central banks and major finance companies. The system is not allowing losers - thus there are no winners. Only a continuance of the mad-mad propping up of a long failed system. Every week the government takes money from your earnings and makes it the earnings of the central finance corporations in the form of asset purchases and free loans.
This has got to stop.

Bernanke Defends Asset Buying as Benefits Outweigh Risks - Bloomberg

And what do you suggest as another way to delay America's bankruptcy being formalised ?

Why would anyone want to delay the Bankruptcy when the way Bush/Obama have done it is by making it incredibly worse and more painful for everyone? Fact is we could have fully recovered by now if Reps/Dems just let the rich eat their losses rather than dump it on the middle class and poor. Thanks to Obama for impoverishing tens of millions in a short span of time, we'll end up with a lost generation or two.