Posted by
tony in brazil on Thursday, February 14, 2008 7:46:49 PM
With the good news of the past couple of days (i.e. mostly positive earnings, retail sales beating expectations, initial claims down, trade deficit less than expected), it looks as though Bernanke wrote his testimony over the weekend and wasn't alert enough to modify it for his Capital Hill testimony this morning. A couple of word changes could've made all the difference.
And so... the markets and economy will suffer needlessly, the doom and gloom gang blathers on and all the talk of "the incipient recession" aren't dashed.
It would seem Bernanke isn't up to the job. He doesn't realize that it's just as much about perception as it is about economic statistics.
His numbskull is showing.