A review of Fed Chairman Ben Bernanke’s performance is entitled Is Ben Bernanke A Liar, A Lunatic Or Is He Just Completely And Totally Incompetent?
Mr. Bernanke’s recent testimony before Congress brought forth this characterization:
Bernanke seems to believe that if he just keeps on repeating the same mantras over and over that somehow they will become true. Bernanke insists that the economy is getting much better, that quantitative easing will lower long-term interest rates, that all of this money printing by the Federal Reserve is not causing inflation and that the Fed knows exactly what needs to be done to dramatically reduce unemployment inside the United States.
The article provides support for its unfavorable conclusion:
Well, as I see it, there are three primary alternatives….
1 – Bernanke knows that what he is telling us is wrong and he is purposely trying to deceive us. That would make him a liar.
2 – Bernanke actually believes what he is saying because he is completely delusional. That would make him a lunatic.
3- Bernanke actually believes what he is saying because he simply does not understand economics. This would make him completely and totally incompetent.
In any event, someone with Bernanke’s track record should not still have such a high level job. He should have been asked to resign long, long ago.
For anyone wishing to have a review of ridiculous forecasts and statements, the article is worth a read.
For those who read the article, I believe that Mr. Bernanke is probably more talented and honorable than most government officials.
Doesn’t that make you feel warm and fuzzy about our future?
