People always assume ‘governmenteconomists’ know what they aretalking about….particularly thechief one, the chairman of the Federal Reserve. ‘Taint so, and ifthey DID know, what they say willbe politically motivated. Mr.Bernanke is SO far removed fromthe cares of the middle (andlower) class, that I’d venture tosay he just doesn’t know what he’stalking about….that he wouldn’tknow a recession if it bit himon the butt. It’s a safe bet hedoesn’t have health care concerns,and I can also surmise he doesn’tknow that (for instance)spaghetti has doubled in priceover the last 8 months….. |