He was just a figure head.
Today, the Master Wizard of Monetary Policy, Sir Ben Wizzie himself, spoke to Dorthy and Toto, the Tin Man and the Cowardly Lion. He did what all Wizards do before they are exposed as frauds-- kept everyone believing in magic.
Bernanke said NOTHING in his meeting today. He has said NOTHING in the last 10 meetings.
By saying nothing Bernanke may have made some new enemies opposed to friends.
Wizard Fed-Speak nothing today
“Extended period is conditioned on resource slack, on subdued inflation and on stable inflation expectations,” Bernanke said. “Once those conditions are violated or we move away from those conditions, that’s the time we need to begin to tighten.”BEN WIZZIE'S NEW ENEMIES???
As for enemies, Ben wizzie now has on his list:
- Every U.S. Consumer that has been told the economy is recovering
- Anyone in the world that has to eat
- Anyone in the world that has to use fuel
- Every central banker in the world that has to try and wrestle the exploding costs of infaltion
Fun: USA 2011: $5 gas, homes dropping 10% this year, flat job growth and $19 apple-sauce. RECOVERY!!!
This was also a big F-U to Austrailia, Canada and other currencies that have exploded with commodity prices. Who is going to buy your 'stuff' when the US crap is cheaper? China? Ha ha.
The only thing that was definite was that Ben Wizzie said that QE was done in June.
Expect the last MANIA portion of the equity bubble to take off here shortly, but be ready. No Stimulus shimulus in June = stronger dollar = Equity markets and commodity prices watch out below.
Bonds should continue to strengthen as well. When bonds strengthen while equity markets explode higher, don't believe the panelist on Cavuto that tells you 'Stronger Bonds mean we are recovering faster." It means, there is shit being shot out of a bazooka and it is heading towards the fan at the speed of light.
Ben Wizzie will play his last Ace as QEIII before 2011 is over. Will it work again? Maybe he should just send everyone 'live' stimulus checks like Bushie Duex, or pay off our mortgages.
Maybe, just maybe, Ben Wizzie is playing us all into his trap. He inflates to crash the economy and they unloads TRILLIONS of QE crap to the masses at a premium.
...Maybe he is just a man behind a machine and has no clue what he is doing...
Probably the second scenario...
Regardless, I'll wait until Christmas 2012 to buy gold-dipped UGGs for everyone-- should be cheap, just like Australian Real Estate at that time...