I think if Uncle Ben were to have answered the panel yesterday in a similar fashion as the youtube cut... "You Can't Handle The Truth!"; we would be sitting back at 980.
When grilled about what tools he had to offer.... He was vague and I believe for a really big reason...
1). He is using the only tool that he can use right now to effect the market.... Hopium... A Euro style Kick the Can down the road... A QE promise without implementation...
Can you imagine what the exchange would have looked like if he released his anger at the idiots who were at the root of the evil empire...
Why didn't he answer the one question, "Why not implement now?"....
BECAUSE, IT DOESN'T CREATE JOBS YOU IDIOT!
Posted by Market Pawn on July 18, 2012 (08:30AM)
Also, maybe putting the pressure on Congress to cut a fiscal deal. Will he play chicken with them through the fall?
Posted by Patches O'Houlihan on July 18, 2012 (12:02PM)
Too bad Printer Ben doesn't have the stones to tell the Parliament of Whores that he can't do anything. Oh how I wish I could live in a world where turning on a printing press creates wealth. That would be cool.
Posted by treeHamster on July 18, 2012 (12:46PM)
Haha, Benny needs to show Congress the episode of DuckTales where the kids decide to use a magic copying device to copy a dollar bill. It then keeps copying itself (each new bill would also copy itself, aka logarithmic growth) until the market is flooded with money and inflation skyrockets. If only they'd learn you can't make money just appear without consequences. Someone's gotta pay for it.
