Bernanke question: is he a moron or in denial? Or...

does he think the rest of us are? :shrug:

http://www.cbsnews.com/stories/2007/03/28/business/main2619947.shtml?source=RSSattr=HOME_2619947

AP) Federal Reserve Chairman Ben Bernanke told Congress on Wednesday he doesn't believe the economy will slip into a recession and rejected the notion raised by his predecessor, Alan Greenspan, that the economic expansion, which started in late 2001, could be running out of steam.

"I would make a point, there seems to be a sense that expansions die of old age. ...I don't think the evidence supports that," Bernanke said in testimony to Congress' Joint Economic Committee.

--snip--

On the other hand, consumers, who proved "quite resilient" despite the housing slump and increases in energy prices, could continue to keep spending at a pace that would make the economy grow faster than currently expected, he said. And, there are other forces, including a still-good jobs market that is producing fatter paychecks, that could push up inflation.


:rofl:

I don't think you will ever see a Fed Chairman downplay the economy unless a Dem is president. He has to keep up the illusion, at least as much as he can to help his buddies out.

If he came out forcefully and said "Houston, we have a problem" we would see a big panic, IMHO.

and the home team is down by multiple touchdowns. The cheerleaders are pretty moot at that point.

Sure....to the average observer, who has been watching the game, the score should be lopsided. However, upon looking at the scoreboard, it appears much closer.

The reason? The manager of the team, the owner of the team, the management at the stadium, the "paid" officials.....have added a bunch of points to one team's score, to cover up the facts.

By the time anyone realizes the truth....the cheerleaders, players and stadium workers, will have all been laid off due to the "SURPRISING" reports from the league that something is amiss.

first came up (in some int'l meeting), lots of foreigners there were saying 'stupid americans, getting themselves into these ARMS' and ol' ben just sat there looking smug, not voicing or showing any concern for the stupid americans that had gotten themself into this fix. He's a jerk!

Every single day...bernanke takes my pay

cool video:

http://www.youtube.com/watch?v=3u2qRXb4xCU

I can't remember the original lyrics anymore - this has been imprinted in my brain.

I wouldn't want his job for anything right now. If he drop interest rates, he's gonna set off a full-blown dollar crisis. If he raises rates, say hello to a huge housing market crash and a depression. He's been treading water, but he can't do it forever. I say he finally chooses to risk the dollar crisis.