The following summary was the lead story on the front page of CNN.com a couple weeks ago:
Bernanke says recovery will begin next year
Federal Reserve Chairman Ben Bernanke says government officials are laying the groundwork for an economic revival and that a depression can be avoided. “We’ll see the recession coming to an end probably this year,” he told CBS. “We’ll see recovery beginning next year. And it will pick up steam over time.” The key to recovery, Bernanke says, is stabilizing the banking system.
Way to go, guys. Tell all those naturally impatient, panicky Americans that we’re screwed for the next nine months, at least. This could end up screwing us for good, maybe even inciting revolution.
Or maybe it’s just the “grownups” who are running things now telling all the petulant, still-learning children the truth about how it’s gonna be. I’m really not sure anymore. I’m not a big fan of the Obama Cabinet, so far.
Oh, Bernanke’s not IN the Cabinet? Ah, that’s right. Didn’t GWB appoint Ben Bernanke? Are we looking at another Reagan/Greenspan thing here, with a mess it’s gonna take a decade to untangle? So where’s the “hard news”, press corps? What are the real philosophic underpinnings of Bernanke’s approach? Is he another trickle-down Friedmanite in moderate clothing?
Furthermore, why do we put such turds in positions of power? In the interest of breaking with tradition, can we fire the entire Federal Reserve board and let Mrs. Anderson’s fifth grade class take over? They sure wouldn’t do any worse…
“Tomorrow is not promised…”
I’ve been reading the biblical book of Jeremiah lately. His is the kind of strident, clear-thinking, ass-kicking voice we need in the world these days. He would never put up with all the false idols and false prophets we’ve built up in the past thirty years.
Where are you when we need you, Jerry?
[Side note: If you did not see any of Jon Stewart’s debates during Jim Cramer Week (two weeks ago?), go to comedycentral.com now and link to some Daily Show highlights. CNBC’s Cramer, one of the predictor/prophets of the new profiteering class, was put in his place BUT GOOD by the smartest comedian on television.]