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FLY ON THE WALL PRODUCTIONS
Obama: The market tanked today Ben.
Bernanke: Yes. In line with our expectations.
Obama: Yeah I know. How far can we let it drop to see if it will stabilize?
Bernanke: We project that it could drop all the way back to 10,000 if we don’t intervene. It is possible that sub 10,000 could come around shortly thereafter.
Obama: How did we get into this mess?
Bernanke: On the bright side. We did pump up the Dow for the past few months in anticipation of this plan.
Obama: When did we start that again?
Bernanke: Well, after we decided to do “Operation Training Wheels Two” the Dow was at around 11,700.
Obama: So we’ve inflated a roughly 1300 point cushion?
Bernanke: Approximately.
Obama: Is the market going to continue dropping through the election?
Bernanke: No. If the S&P hits 1030 I’ll do another round of QE.
Obama: That’s having less and less of an effect isn’t it?
Bernanke: Yes. Unfortunatley, it is.
Obama: How much time are we buying here before meltdown?
Bernanke: Another year, tops.
Obama: We’re just flying by the seat of our pants here Ben aren’t we?
Bernanke: Yes Mr. President. I’m afraid we are.
Bernanke: Are you sure you really want to be President again this year?
Obama: Look Ben, just try not to give me any more QE until AFTER November if you can, huh? I've been taking a lot of heat for $4 gas prices you know.
Bernanke: I'm not sure that will be possible Mr. President.
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Insightful and Useful Comment!