Bernanke Speaks - Who Cares!

Do we need Uncle Ben to make us feel better about the economy?

online.wsj.com/article/SB125301730771311713.html

www.nytimes.com/2009/09/16/business/economy/16bernanke.html?_r=1

Can we really take anything this guy says seriously anymore?
Why should we even care what his recession forecasts are? Based on his track record with bubbles and his rigid acumen regarding the economy, his views on the economic landscape are irrelevant.

tradersutra.blogspot.com/2009/08/opposite-ends-of-reality.html

Sub prime is not a problem. Sub prime is contained. Housing won't spill over to the rest of the economy. Bear Stearns was a one time event. Wall Street can do a better job of regulations then we can.

I cant get on Ben too much, the rest of his meat head profession got it wrong as well, and he has to somehow justify his salary, but the strange thing is economics as a profession failed to forecast what was actually happening, so why would we care to waste time on what he says about the future?

Also this piece from Bloomberg:

www.bloomberg.com/apps/news?pid=20601087&sid=alF.pwEn.muQ

This goes back to my issue of an inevitable death spiral in the lending/banking sector. On one hand you say lend, but on the other you are telling the banks to raise capital requirements. The banks are not lending because they lied about the toxic debt on their books. Once capital was injected into the banking sector, the banks used the money not to lend but to rebuilt there bad balance sheets. Now you are telling them to raise even more the requirements. This is not good.

I also have been reading and listening to Bernanke on consumer spending. He seems to be under the assumption that government doesn't exist.

How can anybody say that the consumer is back? NO MORON! The government subsidy machine is back and here to stay. We now have a Corporate Welfare State in America.

I am so glad to have someone like Ben Bernanke at the helm.

Full Speed Captain Smith.

tradersutra.blogspot.com/2009/07/deck-chairs-have-been-moved.html

Just shut up and continue to print.