TALKING HEAD SAVES THE DAY
Well ole talking head Ben Bernanke made nice today by talking down former Federal Reserve Chairman Allen Greenspan’s dark view of our economy.
After a drawn speach were members of the House Budget Committee asked pointed questions about the 416 point plunge of the stock market the other day. Bernake responded with what one reported called, “Plain Vanilla Statements” to an worried committee. Sadly, by the time his speach was done, reporters noted many committee members had already left the meeting.
How could you blame them. After reading his drawn answerless speach I could see the futility of their queries. Here’s are some excerpts that I found interesting;
Discussing market operations, he said,
“They SEEM to be working well, normally.”
They seem to be working well or normal? They seem???? That’s like a doctor telling you that you seem to be healthy even though a cancer is eating your brain, gawd!! Sorry dude, it’s all in your head.
“There didn’t seem to be any single trigger of the market correction we saw yesterday,”
Is this “Double Speak” for, “Ah, we don’t know what happened, don’t have a clue, doi!”
Then for Bernanke to get rave reviews from Bush minions like Mark Zandi, chief economist at Moody’s Economy.com. He gave Bernanke great praise for doing an excellent job. Well, what did he do anyway?
To top it all off, when the nation needed a word of imspiration over the looming economic situation. Maybe even a glimmer of hope during these troubleed times. And since George W. Bush used the stockmarket and it’s sky rocketting figures as one of his success stories throughout his presidency, you’d figure Ole King George would use this opportunity to make one of them inspirational speaches like Roosevelt and his New Deal.
When “Yes Man To The Stars” and White House Press Secretary Tony Snow was asked if the leader of this nation could offer some insight or direction in this time of plight.
“The president does not give advice to investors in the stock market.”
So if you asked me who I would place my sore buck behind as far as insight and direction regarding the true state of affairs of our economy. I put my money on the man with all the experience in the world, Allen Greenspan.
As for Ben Bernanke, he’s only a talking head and by far does not have the insight nor experience Allen Greenspan has. And I hate his taste in ties.
Your Devil’s Advocate
Creativity is the byproduct of a fertile mind