As you may have noticed from your Facebook and Twitter feeds this morning, last night was the 86th annual Oscar Awards, and Ellen Degeneres stole the show.

In her hilarious opening monologue, Ellen manages to call Liza Minelli a drag queen, insinuates that all actors were uneducated, was slightly ageist towards June Squibb, and embarrasses Jennifer Lawrence for falling over AGAIN on the Oscars red carpet (below).

Watch Ellen’s full monologue below.

http://www.youtube.com/watch?v=xmc_8u15egs