Bernanke Speaks and says.....

Not much.

He did try to blame Congress for their lack of insight and political games, but that doesn't fly when looking at the debt crisis debate. It is laughable that Bernanke is chastising Congress for their lack of transparency when the Fed has done everything they can to avoid having their books examined by Ron Paul. No mention of QE III but, if you look at the M1 and M2 tables for the 2nd quarter you will see a huge amount of money being infused into the economy. So regardless of Mr. Bernanke's comments today at Jackson Hole, Wy. he is using other tools to prop up the economy. The FED Link here or see chart below.

What does it mean?  Heavy inflation heading your way. It means that The Fed is increasing the money supply and trying to increase liquidity to the markets or a under the radar QE III, just like the mysterious 1.2 trillion The Fed lent to various favorite banks in the US and europe. SUPRISE!  Screwed again!  No one asked you. You couldn't vote on this, they - The Fed and your elected officials are trying to add a little more juice to the system to keep a dead hors going. So the reaction on Wall Street to Mr. Berneke's comments were kinda... Oh Hum, he has got our backs?!?! Markets up, DOW up 130 plus point and the TV shills were all happy, but distracted by Hurricane Irene threatening to wash out Congress and then move on to NYC and scrub down the Wall, Street as well as COney Island, battery park and quite a bit of lower Manhattan and Brooklyn.

Hurricane Irene should be good for the markets, lots of things bought and sold, all of that damage to be fixed. Bad for insurers, but lots of jobs to fix the damage. A first a earthquake and smaller damage and now a hurricane QE for the East coast! Thank you Mother Nature!

Should be interesting to see what Monday brings. WIll Wall Street still be there? Will the markets be open if Manhattan is flooded? The subway closed and major damage?  Or is Irene all bluster and potential or another miss?  Better to be prepared and not need to be rather than not and get hammered.