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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (68309)8/30/2007 10:08:17 PM
From: Sunny Jim  Read Replies (1) of 116555
 
<Bernanke proves he cannot distinguish problems from solutions.>

Bernanke is obviously smart enough to sort out what the problems are and come up with solutions. My opinion is that he is perfectly capable of balancing such things but he acts far too much like a politician. For example, his job description doesn't include providing housing for the poor. His job description doesn't include providing credit for over-exposed hedge funds. His job description doesn't include ensuring that the stock market never corrects more than 10%. His job description doesn't include aiding and abetting asset bubbles. However, he watched Alan Greenspan do all these things (and get praised and re-elected) so I guess he just assumed that's what he needs to do to be considered successful in the job. He, like all politicians is striving for his place in history - he better be careful what he wishes for.
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