Have you ever watched someone lie to your face and know it the whole time? I’m sure you have, we all have, but if not get ready for a big one today as good old Ben puts on the performance of a lifetime.After that build-up, I wanted to see how Bernanke's performance went.
The reason the market just isn't doing much is simple. Bernanke will be out with his statement on interest rates, the state of the economy, and inflation at 12:30 EST today.
The market will be hanging on his every word. We all know that inflation is completely out of control. If you don’t agree with that your head is in the sand. The market is waiting to hear what he has to say with regards to future rate increases that many are now worried about due to this runaway inflation
After he makes his announcement he will then take on a question and answer session for the whole world to hear starting at 2:15 EST. It's going to be one of the greatest Academy Award-winning speeches as he looks in the camera and tells us that inflation has increased some, but it's not bad at all. Not that bad! I believe the real inflation rate is double the posted rate, but I’ll save that for another day.
You'll have to try hard not to laugh out loud, or cry out loud, whichever one seems to fit the moment. He'll also lie and tell us that things are improving quite a bit and maybe, just maybe, he can start to raise rates slowly.
Nothing dramatic, just that our economy is rolling along well enough that he can now raise rates a tad. If he told the truth he'd say that inflation is like a gasoline fueling a huge forest fire, and that he needs to increase rates so a gallon of milk won't cost $12 in the near future. He won't tell the truth because, if he did, the stock market would take a nose dive into a deep pit.
So stick around for later today if you want to see what a true boldfaced liar looks like in real life. In fact he will be so convincing that you might even find yourself believing him if you had not read this email. Inflation comes from printing money and the US does a ton of that, it’s really that simple.
It'll also be a most interesting day to see how the market responds to his lies.
So I went to Google and did a search on bernanke youtube.
For some reason, my eye was drawn to Bernanke - Every Breath You Take. Got to the page and hit play.
I was a bit nonplussed that it began with George Bush nominating him for the position. Clearly, there was some political commentary coming my way.
But then there was a picture of a cigarette burning, and a Wall Street Journal, and the music started: "Every breath you take."
Oh, yeah! This should be fun. Or good. Or something.
Uploaded April 27.
But . . . wait a second! 1,763,580 views!?!?!!!
In the last five years.
But, y'know. Somehow the commentary seems very up-to-date.