March 24, 2012
Despite every critical forecast he made resulting in the exact opposite of what he predicted, the mainstream media, government officials and financial institutions continue to trust him to inform us of the state of our economy, our country’s fiscal health, and the stability of our monetary system (all of which are doing just fine, by the way).
The Great Forecasts Gone Wrong, By Ben Bernanke (Via The Daily Crux):
Mr. Bernanke maintains that inflation is under control, the Fed’s loose monetary policy was not responsible for the housing bubble (or any historical price bubbles, for that matter), and full recovery is dead ahead.
Nevermind that 11 of 13 leading economic indicators have missed consensus estimates, home sales are trending down again, food stamp participation is rising, alternative unemployment statistics are above 20%, gas prices are about to break new records, and our national debt is up over 50% since President Obama came into office.
There is absolutely nothing to worry about here.
Ben Bernanke, Tim Geithner, and President Obama have everything under control.
This article was posted: Saturday, March 24, 2012 at 4:34 am