Bernanke's Talk Kills Stock Rally (unexpectedly????)

WSJ ^ | 6-7-11 | STEVEN RUSSOLILLO And BRENDAN CONWAY

[radioone]

NEW YORK—A gloomy economic assessment from Federal Reserve Chairman Ben Bernanke erased an earlier stock rally, sending major indexes in the final minutes of Tuesday's session to their fifth consecutive drop.

[radioone]

However, the BIG news today continues to be "der Weiner Schlinger".

[Viking2002]

Ol' 'Buzzkill' Bernanke went to the 'Plugs' Biden school of yelling "Fire!" in a crowded theater. Schmuck.

"But know this, that in the last days perilous times will come: for men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away, for his name is Obama."

[Signalman]

DJIA is about to sink into 11K territory.

[Kenny500c]

The stock market is in a downtrend now, the news does not matter, morning rallies end up as down days, not a good sign in my experience.

[wiggen]

It was a ugly close with the down move being pretty sharp right at days end. If we had another hour we could have been off 50-100.

[familyop]

Yet oil is still high, while the dollar is low. You can be sure that Bernanke will soon take his helicopter to the air. It will rain free money. ;-)

‘Cause big government won’t willingly shrink herself.

[beethovenfan]

Bernanke doesn’t know WTF he’s doing - he’s just making it up as he goes along.

[masadaman]

Bump. And today he used the phrase ‘worst recession since the Great Depression’ more than once, a broad hint that he is hopelessly over his head and should only be held responsible for ‘average recessions.’ OTOH and in his defense, he has vastly more experience in economic matters than the TOTUS having worked as a teen in his father’s grocery in SC. Sadly, we are being led, no ruled, by the least among us.

[Revel]

Why anyone would listen to what that guy says if beyond me. Now what he does is another story.

[Neidermeyer]

Why anyone would listen to what that guy says if beyond me. Now what he does is another story.
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His words are important in that they prove beyond a shadow of a doubt that he is CLUELESS , his action are predictable ,, he does what GS tells him to do.

[Mariner]

"Bernanke doesn’t know WTF he’s doing - he’s just making it up as he goes along. "

I think he knows what he's doing. I think he knows the end of all QE efforts, the sale of all assets and an increase in the Funds rate to 4% is the right answer. I think he also knows that would make a lot of very rich, very powerful people very very angry.

Not to mention the 100s of thousands in the streets of every major city with torches and pitchforks.

Of course, after 12-18 months at the bottom of that abyss there would emerge green shoots.