Strong stuff from Sean Corrigan – I’m sorry, I haven’t a clue! » The Cobden Centre:
It was a signal feature of the week that one of the few Grand Wizards of the global Oz in which we live not to give vent to a risible display of reality denial and sophistry was none other than ‘Blackhawk’ Ben Bernanke.
The occasion for the Fed Chairman’s uncharacteristic distinction in this regard was the post-FOMC press conference when he not only openly confessed to not having a clue about why the US economy seemed to be stuttering, once more, but when he next ruefully responded to a Japanese interlocutor that, yes, it had been easy enough for him to make an academic name for himself by pontificating on what the BOJ should and should not have done to escape the clutches of the country’s (supposed) economic stagnation, all those years ago, but that his experience as a policy-maker had since taught him to be far more forgiving of his predecessors in office.
Read the rest of the article here.