Saturday, August 28, 2010

Bernanke's Jackon Hole Speech

The speech he just delivered, in the land where Dick Cheney roams, was almost John Wayne like in its frankness. Perhaps, after his visit with the horse whisperer, he considers himself a cowboy. Whatever he may think of himself ,though, clearly the label "mad scientist", with the emphasis on "mad" fits best...

It should be noted that the three basics were never seen in a "benefits and drawbacks" manner. This is really all about the new "tools", which really brings to the forefront and, the question: Why are all these new tools being developed and implemented, to varying degrees, in the middle of a financial crisis? Mad.

In conclusion, one has to ask: Is implementing all these new 'tools' in the middle of a financial and economic crises the work of a sane man, when former Fed chairmen managed control of the money supply with proven tools for decades? Is Bernanke a mad scientist using the United States economy as his laboratory to experiment with new "tools"?

While Bernanke stargazes and watches a horse whisperer perform, it is probably time for the rest of America to focus on the speech he just gave in Jackson Hole and realize that this is not the work of a man that can be classified as anything other than a mad scientist.

It's really time for Ben to take his helicopter and new tools and go.

read the entire essay

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